Research and Markets - GrabTaxi Partner with World Bank for Real-Time Traffic Data Service

05 Apr, 2016, 07:11 ET from Research and Markets

DUBLIN, April 5, 2016 /PRNewswire/ --

Southeast Asia's largest ride-hailing company, GrabTaxi Holdings Pte, has announced a partnership with the World Bank to provide free real-time traffic data to the Philippine government to ease the heavy congestion found in the country's cities of Metro Manila and Cebu City. Southeast Asia is fast becoming a key region for car-booking companies like GrabTaxi and Uber due to its 620 million residents. Increasing numbers of people are moving to the region's cities, resulting in heavier traffic congestion. The global traffic management market is expected to reach a value of USD 17.64 billion by 2020, according to a recent report available from Research and Markets, suggesting heavy investment in this area. 

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GrabTaxi will analyze and visualize real-time traffic data gathered by their drivers, and provide this information to the Philippines' Department of Transportation and Communications so they can better manage the flow of traffic of the aforementioned cities of Metro Manila and Cebu City. Big data offers government agencies a detailed solution to the problems caused by rush-hour traffic jams and vehicle accidents, allowing them to quickly react and redistribute traffic before it builds up.

The global smart transportation market is set to grow at a CAGR of 18.5% during the 2015-2021 period, as forecast in an industry report. The report notes that Asia Pacific is the fastest growing market, so it's likely that GrabTaxi will expand their real-time traffic data services to more cities in this region.

The global Internet of Things in the transportation market is predicted to be worth USD 143.93 billion by 2020, as forecast in a market report. The report states that in the coming years the potential financial returns from the productization of IoT devices in this market will be the biggest incentive for businesses operating in this area, suggesting that GrabTaxi stand to benefit greatly from their traffic data service provision.      

For further information on this topic, and a full list of all related documentation, please visit the Telematics and Vehicle Electronics section at http://www.researchandmarkets.com/rm/NMJK.

Source: http://www.bloomberg.com/news/articles/2016-04-05/grab-to-provide-data-to-ease-traffic-congestion-in-philippines

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