Verra Mobility polled city technology leaders
who shared how they are turning to technology to navigate
revolutionary transportation trends such as AI, EVs, and
connected vehicles while improving road safety
MESA,
Ariz., June 26, 2024 /PRNewswire/ -- Verra
Mobility Corporation (NASDAQ: VRRM), a leading provider of smart
mobility technology solutions, today released findings from a new
urban mobility technology report which found that nearly all U.S.
municipalities (93%) anticipate they will need to be ready for
driverless autonomous vehicles on their streets within five
years.
In addition, 52% of city technology leaders surveyed would want
to use artificial intelligence (AI) to identify road safety
priorities.
Verra Mobility's survey of technology leaders from cities of all
sizes across the U.S., examined how they are navigating
revolutionary mobility tech trends such as autonomous, connected,
electric and shared (ACES) vehicles. The survey, conducted by
Wakefield Research, also examined how cities are utilizing data,
deploying advanced safety technology to reduce roadway fatalities
and their hopes for AI-powered solutions.
"This study confirms that cities are balancing many challenges
during this exciting transition period in the transportation
industry, and technology is at the heart of the solution," said
David Roberts, President and CEO,
Verra Mobility. "Autonomous,
connected, electric and shared mobility elements have already
arrived in some form and are continuing to evolve. While AI shows a
lot of promise, our survey revealed cities are still struggling to
collect or analyze the data they need to make informed mobility
decisions. City technology leaders need to harness these trends at
a pivotal time when fatalities on U.S. roads are at a nearly
16-year high."
Other insights from the survey included:
- Safety: 55% of municipal tech leaders have "reducing
road safety incidents" as a top 3 priority for tech-based
solutions.
- Electric Vehicles: 43% report their jurisdiction has
deprioritized support for EV infrastructure because consumer demand
for the technology hasn't kept up with predictions.
- Connected Vehicles: 81% anticipate some systems will
need to be updated before they're ready to incorporate connected
vehicles technology into their mobility initiatives.
- Shared Vehicles: The influx of e-bikes, e-scooters, and
other shared vehicles has complicated technology-focused mobility
efforts for 84% of municipalities.
- Data: 73% face analysis barriers that prevent them from
using their data to implement or improve their mobility and safety
initiatives.
"While survey respondents indicated the urgency in preparing for
AVs, the reality is there will be human-driven vehicles on our
roads for decades to come," said Roberts. "And even as AVs become a
more common fixture on our roads, we'll discover new safety
challenges as human drivers interact with advanced machines. Our
survey findings emphasize the need for city leaders, automotive
manufacturers, technology providers and safety advocates to come
together to find ways to make transportation easier, more efficient
and much safer than it is today."
Methodology
The survey was conducted by Wakefield Research between May 1 and May 8, 2024, using an email
invitation and an online survey. Wakefield surveyed 100 Municipal
CIOs and Deputy CIOs, who confirmed they work on or are familiar
with mobility or transportation related topics. More than one-third
of respondents represented cities with populations of more than
250,000.
To download the full report, visit:
https://www.verramobility.com/survey-urban-mobility-technology-2024
About Verra Mobility
Verra Mobility Corporation (NASDAQ: VRRM) is a leading provider
of smart mobility technology solutions that make transportation
safer, smarter and more connected. The company sits at the center
of the mobility ecosystem, bringing together vehicles, hardware,
software, data and people to enable safe, efficient solutions for
customers globally. Verra Mobility's transportation safety systems
and parking management solutions protect lives, improve urban and
motorway mobility and support healthier communities. The company
also solves complex payment, utilization and compliance challenges
for fleet owners and rental car companies. Headquartered in
Arizona, Verra Mobility operates
in North America, Europe, Asia
and Australia. For more
information, please visit www.verramobility.com.
Forward Looking Statements
We describe many of the trends and other factors that drive our
business and future results in this press release. Such discussions
contain forward-looking statements within the meaning of Section
21E of the Securities Exchange Act of 1934, as amended (the
"Exchange Act"). Forward-looking statements are those that address
activities, events, or developments that management intends,
expects, projects, believes or anticipates will or may occur in the
future. They are based on management's assumptions and assessments
in light of past experience and trends, current economic and
industry conditions, expected future developments and other
relevant factors. They are not guarantees of future performance,
and actual results, developments and business decisions may differ
significantly from those envisaged by our forward-looking
statements. We do not undertake to update or revise any of our
forward-looking statements, except as required by applicable
securities law. Our forward-looking statements are also subject to
material risks and uncertainties that can affect our performance in
both the near-and long-term. In addition, no assurance can be given
that any plan, initiative, projection, goal, commitment,
expectation, or prospect set forth in this press release can or
will be achieved. These forward-looking statements should be
considered in light of the information included in this press
release, our Form 10-K and other filings with the Securities and
Exchange Commission. Any forward-looking plans described herein are
not final and may be modified or abandoned at any time.
Additional Information
We periodically provide information for investors on our
corporate website, www.verramobility.com, and our investor
relations website, ir.verramobility.com.
We intend to use our website as a means of disclosing material
non-public information and for complying with disclosure
obligations under Regulation FD. Accordingly, investors should
monitor our website, in addition to following the Company's press
releases, SEC filings and public conference calls and webcasts.
Media
Relations:
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Investor
Relations:
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Eric Krantz
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Mark Zindler
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eric.krantz@verramobility.com
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mark.zindler@verramobility.com
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SOURCE Verra Mobility