Increasing population density has had a significant impact on traffic congestion in urban area, with every car driver wasting on average about 100 hours a year looking for a parking space, which accounts for one third of city center traffic. In addition, the overall attitude towards mobility has altered – with workers demanding for shorter work commutes and more environmental and sustainable programs. The demand for affordable, accessible, efficient, and convenient parking solutions is on the rise.
Nwave has taken advantage of the decreasing cost of sensors, cloud software, and mobile phones and payments to provide a desirable parking solution for parking facilities, municipalities, and enterprises. Nwave designs and develops LPWAN hardware and software technology that connects smart sensors at a fraction of the cost and power of existing wireless WAN technology. Using Nwave’s technology devices can transmit data securely over distances of 5-10km in urban areas, with power usage so low that they can operate on a single battery for up to 10 years. Focus areas are Smart Parking, Agriculture and Utilities.