|By PR Newswire||
|December 10, 2012 04:01 AM EST||
- Report from INRIX and The Centre for Economics and Business Research Reveals Traffic Congestion Costs U.K. Households Nearly £500 a Year
LONDON, Dec. 10, 2012 /PRNewswire/ -- INRIX®, a leading international provider of traffic information and driver services, and the Centre for Economics and Business Research (Cebr) revealed results of a new report finding traffic congestion costs Britain's economy more than £4.3 billion or approximately £491 per car commuting household.
These costs are a result of the direct impact of traffic on drivers in terms of wasted time and fuelas well as indirect costs to U.K. households resulting from businesses passing these same costs on to consumers in the form of higher prices.
Direct Costs (fuel and time):
- Fuel: Over £426 million is wasted on fuel alone - that's £52 worth of fuel cost per-car commuter for 8.2 million British commuting drivers
- Time: Time is money, the average cost of time wasted in gridlock per commuter equates to £331 – that's a total national time cost of £2.7 billion
Indirect Costs (rising cost of goods and services):
- Household Goods: 19% of traffic during the daily commute is business or freight vehicles and as a result over £1.1 billion indirect costs are passed on to British households each year
- Per Household: Gridlock costs each Britishhousehold living in urban areas £107 annually due to the increased cost of goods and services passed on by British businesses
"Traffic congestion impacts everything from how long it takes us to get to work and the amount of fuel we consume in our vehicles to the costs of food at the grocery store," said Bryan Mistele, CEO of INRIX. "As the U.K. continues facing times of austerity and high unemployment, the study indicates the efficient movement of people and commerce across our road networks is essential to fostering a healthy, vibrant economy."
Gridlock Costs Soar in the Capital:
Just 33% of London's residents commute to work by car, however 40% of all UK gridlock costs occur in London, with commuting drivers spending 66.1 hours stuck in traffic jams annually. In fact the average Londoner travelling to work by car spends nearly two working weeks in traffic:
- Per hour the cost of idling in traffic in London is £15.19 compared to the UK national average of £12.51.
- Individual annual costs per commuting household are highest in London with gridlock costing households around £1003.58 annually in fuel, time and the indirect cost of household goods.
- In direct costs alone gridlock costs London car-commuters £1.65 billion in gridlock, put into context this means that for every £10 of direct and indirect costs caused by congestion in the UK, approximately £4 occurs in the capital.
The full report, including results for Germany and France can be found at http://www.inrix.com/pdf/Cebr_Economic_Cost_of_Gridlock_Report.pdf
The Economic Costs of Gridlock Report Methodology:
Cebr is an independent economics and business research consultancy established in 1993. It provides forecasts and advice to City institutions, governments and departments, local authorities and numerous blue chip companies throughout Europe. Below is an executive summary of the methodology used by the Cebr when conducting their analysis for the report:
- The Cebr used INRIX's proprietary data around traffic congestion during peak commuting hours in the EU's designation Large Urban Zones (LUZs) across the UK, France and Germany respectively, to calculate the average annual "wasted hours" per vehicle.
- The Cebr used its own transport, city and macroeconomic models to calculate and quantify the direct costs from higher fuel consumption and the lost value of workers' time spent in traffic. Direct fuel costs were calculated using fuel price averages for Euro-super 95 (regular unleaded petrol) and were based on an average of monthly fuel price reports from the AA in the UK and European Commission Oil Bulletin for France and Germany. Average fuel consumed per vehicle was assumed to be 0.5 litres per hour for the average medium-sized car.
- The Cebr calculated the value of 'wasted time' related to the full-time hourly wage that a worker is paid. The value of wasted time to the commuter is estimated to be worth 50% of the hourly national and city wage because a proportion of lost productivity in traffic is assumed to be recovered during the working week.
- The Cebr used business and commuter time profile data from the 2011 National Travel Survey (NTS) published by the Department for Transport (DfT) and freight statistics from the 2009 Travel in London report published by Transport for London (TfL) which state that approximately 12% of road traffic during AM and PM peaks is business and approximately 6% of traffic is freight. This data was used to calculate the indirect costs passed on to U.K. households by businesses. The value of "wasted employee time" is then calculated at 50% of the hourly national and city GDP per worker, because a proportion of lost productivity in traffic is assumed to be recovered during the working week. Of this wasted time the Cebr estimates that 80-90% of direct costs incurred in terms of fuel and employee time are passed on to households.
INRIX® is a leading traffic intelligence platform delivering smart data and analytics to solve transportation issues worldwide. INRIX crowd sources real-time data from approximately 100 million vehicles and devices to deliver traffic and driving-related insight, as well as sophisticated analytical tools and services, across five industries in 35 countries.
With more than 200 customers and partners including Audi, ADAC, ANWB, BMW, the BBC, Ford Motor Company, the I-95 Coalition, MapQuest, Microsoft, NAVIGON, Nissan, O2, Tele Atlas, Telmap, Toyota and Vodafone, INRIX's real-time traffic information and traffic forecasts help drivers save time every day.
WebRTC converts the entire network into a ubiquitous communications cloud thereby connecting anytime, anywhere through any point. In his session at WebRTC Summit,, Mark Castleman, EIR at Bell Labs and Head of Future X Labs, will discuss how the transformational nature of communications is achieved through the democratizing force of WebRTC. WebRTC is doing for voice what HTML did for web content.
Jul. 3, 2015 10:00 AM EDT Reads: 723
The Internet of Things is not only adding billions of sensors and billions of terabytes to the Internet. It is also forcing a fundamental change in the way we envision Information Technology. For the first time, more data is being created by devices at the edge of the Internet rather than from centralized systems. What does this mean for today's IT professional? In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists addressed this very serious issue of profound change in the industry.
Jul. 3, 2015 09:00 AM EDT Reads: 1,252
Internet of Things (IoT) will be a hybrid ecosystem of diverse devices and sensors collaborating with operational and enterprise systems to create the next big application. In their session at @ThingsExpo, Bramh Gupta, founder and CEO of robomq.io, and Fred Yatzeck, principal architect leading product development at robomq.io, discussed how choosing the right middleware and integration strategy from the get-go will enable IoT solution developers to adapt and grow with the industry, while at the same time reduce Time to Market (TTM) by using plug and play capabilities offered by a robust IoT ...
Jul. 3, 2015 08:15 AM EDT Reads: 2,063
"We have a tagline - "Power in the API Economy." What that means is everything that is built in applications and connected applications is done through APIs," explained Roberto Medrano, Executive Vice President at Akana, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
Jul. 3, 2015 08:00 AM EDT Reads: 1,100
Internet of Things is moving from being a hype to a reality. Experts estimate that internet connected cars will grow to 152 million, while over 100 million internet connected wireless light bulbs and lamps will be operational by 2020. These and many other intriguing statistics highlight the importance of Internet powered devices and how market penetration is going to multiply many times over in the next few years.
Jul. 3, 2015 07:45 AM EDT Reads: 2,234
To many people, IoT is a buzzword whose value is not understood. Many people think IoT is all about wearables and home automation. In his session at @ThingsExpo, Mike Kavis, Vice President & Principal Cloud Architect at Cloud Technology Partners, discussed some incredible game-changing use cases and how they are transforming industries like agriculture, manufacturing, health care, and smart cities. He will discuss cool technologies like smart dust, robotics, smart labels, and much more. Prepare to be blown away with a glimpse of the future.
Jul. 3, 2015 07:30 AM EDT Reads: 960
The basic integration architecture, as defined by ESBs, hasn’t changed for more than a decade. Most cloud integration providers still rely on an ESB architecture and their proprietary connectors. As a result, enterprise integration projects suffer from constraints of availability and reliability of these connectors that are not re-usable across other integration vendors. However, the rapid adoption of APIs and almost ubiquitous availability of APIs amongst most SaaS and Cloud applications are rapidly redefining traditional integration approaches and their reliance on proprietary connectors. ...
Jul. 2, 2015 03:18 PM EDT Reads: 721
Today air travel is a minefield of delays, hassles and customer disappointment. Airlines struggle to revitalize the experience. GE and M2Mi will demonstrate practical examples of how IoT solutions are helping airlines bring back personalization, reduce trip time and improve reliability. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Dr. Sarah Cooper, M2Mi’s VP Business Development and Engineering, will explore the IoT cloud-based platform technologies driving this change including privacy controls, data transparency and integration of real time context wi...
Jul. 2, 2015 02:00 PM EDT Reads: 1,094
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at @ThingsExpo, James Kirkland, Red Hat's Chief Architect for the Internet of Things and Intelligent Systems, described how to revolutionize your archit...
Jul. 2, 2015 09:30 AM EDT Reads: 880
It is one thing to build single industrial IoT applications, but what will it take to build the Smart Cities and truly society-changing applications of the future? The technology won’t be the problem, it will be the number of parties that need to work together and be aligned in their motivation to succeed. In his session at @ThingsExpo, Jason Mondanaro, Director, Product Management at Metanga, discussed how you can plan to cooperate, partner, and form lasting all-star teams to change the world and it starts with business models and monetization strategies.
Jul. 2, 2015 08:00 AM EDT Reads: 2,331
SYS-CON Events announced today that BMC will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. BMC delivers software solutions that help IT transform digital enterprises for the ultimate competitive business advantage. BMC has worked with thousands of leading companies to create and deliver powerful IT management services. From mainframe to cloud to mobile, BMC pairs high-speed digital innovation with robust IT industrialization – allowing customers to provide amazing user experiences with optimized IT per...
Jun. 29, 2015 12:15 PM EDT Reads: 2,756
There will be 150 billion connected devices by 2020. New digital businesses have already disrupted value chains across every industry. APIs are at the center of the digital business. You need to understand what assets you have that can be exposed digitally, what their digital value chain is, and how to create an effective business model around that value chain to compete in this economy. No enterprise can be complacent and not engage in the digital economy. Learn how to be the disruptor and not the disruptee.
Jun. 29, 2015 11:00 AM EDT Reads: 2,226
The Internet of Things is not only adding billions of sensors and billions of terabytes to the Internet. It is also forcing a fundamental change in the way we envision Information Technology. For the first time, more data is being created by devices at the edge of the Internet rather than from centralized systems. What does this mean for today's IT professional? In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists will addresses this very serious issue of profound change in the industry.
Jun. 29, 2015 09:45 AM EDT Reads: 2,578
Business as usual for IT is evolving into a "Make or Buy" decision on a service-by-service conversation with input from the LOBs. How does your organization move forward with cloud? In his general session at 16th Cloud Expo, Paul Maravei, Regional Sales Manager, Hybrid Cloud and Managed Services at Cisco, discusses how Cisco and its partners offer a market-leading portfolio and ecosystem of cloud infrastructure and application services that allow you to uniquely and securely combine cloud business applications and services across multiple cloud delivery models.
Jun. 28, 2015 11:00 AM EDT Reads: 2,292
In his General Session at 16th Cloud Expo, David Shacochis, host of The Hybrid IT Files podcast and Vice President at CenturyLink, investigated three key trends of the “gigabit economy" though the story of a Fortune 500 communications company in transformation. Narrating how multi-modal hybrid IT, service automation, and agile delivery all intersect, he will cover the role of storytelling and empathy in achieving strategic alignment between the enterprise and its information technology.
Jun. 27, 2015 10:00 AM EDT Reads: 2,305
Buzzword alert: Microservices and IoT at a DevOps conference? What could possibly go wrong? In this Power Panel at DevOps Summit, moderated by Jason Bloomberg, the leading expert on architecting agility for the enterprise and president of Intellyx, panelists peeled away the buzz and discuss the important architectural principles behind implementing IoT solutions for the enterprise. As remote IoT devices and sensors become increasingly intelligent, they become part of our distributed cloud environment, and we must architect and code accordingly. At the very least, you'll have no problem fillin...
Jun. 26, 2015 12:00 PM EDT Reads: 2,295
Growth hacking is common for startups to make unheard-of progress in building their business. Career Hacks can help Geek Girls and those who support them (yes, that's you too, Dad!) to excel in this typically male-dominated world. Get ready to learn the facts: Is there a bias against women in the tech / developer communities? Why are women 50% of the workforce, but hold only 24% of the STEM or IT positions? Some beginnings of what to do about it! In her Opening Keynote at 16th Cloud Expo, Sandy Carter, IBM General Manager Cloud Ecosystem and Developers, and a Social Business Evangelist, d...
Jun. 26, 2015 10:00 AM EDT Reads: 2,170
Converging digital disruptions is creating a major sea change - Cisco calls this the Internet of Everything (IoE). IoE is the network connection of People, Process, Data and Things, fueled by Cloud, Mobile, Social, Analytics and Security, and it represents a $19Trillion value-at-stake over the next 10 years. In her keynote at @ThingsExpo, Manjula Talreja, VP of Cisco Consulting Services, discussed IoE and the enormous opportunities it provides to public and private firms alike. She will share what businesses must do to thrive in the IoE economy, citing examples from several industry sectors.
Jun. 25, 2015 02:00 PM EDT Reads: 2,087
In his keynote at 16th Cloud Expo, Rodney Rogers, CEO of Virtustream, discussed the evolution of the company from inception to its recent acquisition by EMC – including personal insights, lessons learned (and some WTF moments) along the way. Learn how Virtustream’s unique approach of combining the economics and elasticity of the consumer cloud model with proper performance, application automation and security into a platform became a breakout success with enterprise customers and a natural fit for the EMC Federation.
Jun. 25, 2015 01:30 PM EDT Reads: 2,225
SYS-CON Events announced today that the "Second Containers & Microservices Conference" will take place November 3-5, 2015, at the Santa Clara Convention Center, Santa Clara, CA, and the “Third Containers & Microservices Conference” will take place June 7-9, 2016, at Javits Center in New York City. Containers and microservices have become topics of intense interest throughout the cloud developer and enterprise IT communities.
Jun. 22, 2015 02:15 PM EDT Reads: 2,898