MOUNTAIN VIEW, Calif., Aug. 22, 2016 /PRNewswire/ -- Based on its recent analysis of the commercial vehicle smart parking services market, Frost & Sullivan recognizes Truck Specialized Parking Services, Inc. (TSPS) with the 2016 North American Frost & Sullivan Award for Customer Value Leadership. TSPS's parking solution tracks and monitors truck stops and rest areas in real time to empower drivers and fleet managers with pertinent information. It has continuously enhanced its service offerings to emerge as the most valuable smart parking service in the commercial vehicle market. TSPS's solution is significant in the current market environment, as parking spot availability has not kept pace with the growth in freight movement across states.
"Utilizing the output of the TSPS platform, drivers can save on average, at least 15 minutes searching for parking, which translates to approximately $4.4 billion per year from the 400,000 daily parking events," said Frost & Sullivan Senior Research Analyst Sundar Shankarnarayanan. "Furthermore, fleet managers can save nearly two gallons of fuel per driver, reducing greenhouse gas emissions by 45 pounds per parking search."
Meanwhile, with the support and vision of the Michigan Department of Transportation, TSPS developed a wireless truck parking network to support truck parking at public and private facilities. It created a responsive and informative parking network by collecting real-time data through cameras and sensors from various parking sites. The system has been fully operational for two years in the important trade corridor that runs through Canada, Detroit, and Chicago, which sees the movement of 10,000 trucks every day.
TSPS has mobilized real-time location data, simplifying prioritization and ensuring smooth workflow optimization for truck drivers. In effect, TSPS parking data has provided access to real-time information through roadside signs, web sites, in-cab messaging and smartphone applications for over 35 million trips, enabling drivers to make well-informed parking decisions. This helps reduce driver fatigue and thereby improves highway safety. TSPS continues to work with public and private organizations to accelerate the reach of this critical network.
Each year, Frost & Sullivan presents this award to the company that has demonstrated excellence in implementing strategies that proactively create value for its customers with a focus on enhancing the return on the investment that customers make in its services or products. The award recognizes the company's extraordinary focus on enhancing the value that its customers receive, beyond simply good customer service, leading to improved customer retention and ultimately customer base expansion.
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.
Truck Specialized Parking Services, Inc. (TSPS) is addressing the national truck parking needs for the commercial vehicle industry, with its scalable and proven parking logistics software platform, set of standards, and best practices. Using ITS (Intelligent Transportation Systems) technology, TSPS provides real-time information from its national data network that is improving safety, productivity and environmental impacts. The TSPS specialized smart parking solution is modular in nature and is being implemented across the nation's busiest roadways and surrounding areas. Truck drivers, truck stop operators, Departments of Transportation and the general public all benefit from the TSPS services.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants.
Our "Growth Partnership" supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.
- The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.
- The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.
For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, mega-trends, breakthrough best practices, changing customer dynamics and emerging economies?
P: +44 (0) 207.343.8314
E: [email protected]
P: 844.879.8777 X 702
P: 844.879.8777 X 701
SOURCE Frost & Sullivan