LONDON, Feb. 15, 2018 /PRNewswire/ -- Based on its recent analysis of the Intelligent Parking Systems industry, Frost & Sullivan recognizes Robert Bosch GmbH (Bosch) with the 2017 European Technology Innovation Award for its driverless system, Automated Valet Parking (AVP) that uses connected technology to locate open parking spaces and safely park a car in parking garages.
"Bosch's driverless system, AVP, offers a seamless solution for parking garages that benefits both owners of parking garages and individual drivers," said Anirudh Venkitaraman, Senior Analyst.
The sensors for the parking garage infrastructure and the communications technology are part of the AVP system provided by Bosch. The driver uses a smartphone app to connect with the garage at a drop-off area. The system calculates the route to the next available parking spot and the infrastructure sensors guide the vehicle into the space. Drivers don't have to monitor the vehicles' movement and can already leave the parking garage, while the car is still on its way to the parking spot. The sensors installed in the parking garage monitor the driving corridor and its surroundings while technology in the car converts the garage sensor data into driving maneuvers. When ready to leave, the driver can summon the vehicle through the app. The Bosch system is designed to operate within mixed traffic as well, including both manually driven cars and pedestrians in the same garage.
Bosch's AVP allows for better utilization of parking garage capacity by ensuring the proper parking of cars closer together, thereby improving the garage's profitability through increasing the number of vehicles accommodated. Bosch's AVP also eliminates human error from the parking process, reducing potential infrastructure damage while ensuring vehicle and human safety. For the end customer, Bosch's AVP eliminates the time for searching for a parking space in the parking garage. As the system is automated and does not require the driver in the loop, it saves additional time for the driver by executing the parking maneuver. In addition to AVP, Bosch offers Community-based Parking to help drivers find real-time parking spaces available on the street.
"Bosch's AVP technology has applications beyond parking, and Frost & Sullivan has determined this technology opens up additional services and new business models, such as automated task fulfillment like bringing the car in for a wash or scheduled maintenance. The AVP is a vital milestone in the automated driving technology development roadmap and this innovative technology solution is perfect for safe garage parking and shows tremendous potential for future applications as well," said Venkitaraman.
Each year, Frost & Sullivan presents this award to the company that has developed a product with innovative features and functionality that is gaining rapid acceptance in the market. The award recognizes the quality of the solution and the customer value enhancements it enables.
Frost & Sullivan Best Practices awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research to identify best practices in the industry.
About Robert Bosch GmbH
The Bosch Group is a leading global supplier of technology and services. It employs roughly 400,500 associates worldwide (as of December 31, 2017). According to preliminary figures, the company generated sales of 78 billion euros in 2017. Its operations are divided into four business sectors: Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building Technology. As a leading IoT company, Bosch offers innovative solutions for smart homes, smart cities, connected mobility, and connected industry. It uses its expertise in sensor technology, software, and services, as well as its own IoT cloud, to offer its customers connected, cross-domain solutions from a single source. The Bosch Group's strategic objective is to create solutions for a connected life, and to improve quality of life worldwide with products and services that are innovative and spark enthusiasm. In short, Bosch creates technology that is "Invented for life." The Bosch Group comprises Robert Bosch GmbH and its roughly 440 subsidiaries and regional companies in 60 countries. Including sales and service partners, Bosch's global manufacturing, engineering, and sales network covers nearly every country in the world. The basis for the company's future growth is its innovative strength. At 125 locations across the globe, Bosch employs 62,500 associates in research and development.
The company was set up in Stuttgart in 1886 by Robert Bosch (1861-1942) as "Workshop for Precision Mechanics and Electrical Engineering." The special ownership structure of Robert Bosch GmbH guarantees the entrepreneurial freedom of the Bosch Group, making it possible for the company to plan over the long term and to undertake significant up-front investments in the safeguarding of its future. Ninety-two percent of the share capital of
Robert Bosch GmbH is held by Robert Bosch Stiftung GmbH, a charitable foundation. The majority of voting rights are held by Robert Bosch Industrietreuhand KG, an industrial trust. The entrepreneurial ownership functions are carried out by the trust. The remaining shares are held by the Bosch family and by Robert Bosch GmbH.
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SOURCE Frost & Sullivan