Wejo Group Ltd (NASDAQ: WEJO) launched Wejo RTTI. It is a Real-Time Traffic Intelligence solution that can provide critical insights via an up-to-the-minute and holistic view of traffic conditions and safety incidents on roads using aggregated data derived from millions of connected vehicles.
Wejo is a global leader in Smart Mobility cloud and software solutions for connected, electric, and autonomous vehicle data.
What Happened: The Wejo RTTI solution offers several features, including ultra-low latency, highly granular traffic updates and accurate traffic events, and real-time speeds and travel times for roads.
Built for any developer or mobility service provider that looks to integrate real-time traffic into its solutions, Wejo RTTI is available via APIs.
This service enables quick detection of changing traffic conditions, identifying road closures and unexpected slowdowns, and helps manage the unpredictable.
Why It Matters? Public agencies, civil engineering firms, mapping & navigation providers, and logistics companies can utilize Wejo RTTI to understand better what’s happening here and now.
This insight allows for a real-world impact on road safety and congestion within a community using easily digestible real-time traffic data.
Wejo SVP Graeme Sandieson said, “Traffic and transportation agencies, as well as government departments, can utilize powerful, intelligent real-time aggregated data and insights from millions of connected cars to help accurately visualize traffic patterns, queuing vehicles, safety hotspots, and road incidents as they happen.”
It can help car/ride-sharing applications, logistics companies, and other gig-economy companies improve the estimated arrival time.
It also enables the ability to implement dynamic pricing for congestion charging on routes, tolls, and parking structures.
Wejo founder & CEO Richard Barlow said, “Wejo RTTI can empower our customers to shape the future of transport and road safety to drive the future of smart mobility, smart cities, and smart living.”
Price Action: WEJO shares closed lower by 4.42% at $3.68 on Monday.
