Wejo becomes one of a growing list of companies to join the Consortium in a united front for mobility innovation.
Wejo, a global leader in Smart Mobility for Good and cloud and software solutions for connected, electric, and autonomous vehicles, announced it has joined the MONET Consortium, an organization actively promoting collaboration and innovation for mobility services in Japan. As part of the MONET Consortium, Wejo will have the opportunity to work with companies selected from the hundreds of diverse and industry-leading members to drive forward mobility innovation and the mobility-as-a-service (MaaS) market, which could be worth $61 billion in 2030, according to Yano Research Institute.
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Bringing its groundbreaking solutions to the table, Wejo will provide new perspectives and ideas to the collective conversation while extending its influence in Japan which has the 3rd largest economy in the world and a high level of urbanization, making it naturally incentivized to develop smart mobility innovations. Japan, according to Statista’s “Automobile Sector in Japan” report, also produces 8.1 million vehicles per year, which aligns with Wejo’s aim to make a more globalized impact with its connected vehicle data and Smart Mobility for Good technology.
“With the anticipated growth of MaaS offerings in Japan, we see the potential for a nearly three-billion-dollar addressable market by 2030 for Wejo Smart Mobility for Good products and services,” said Richard Barlow, founder and CEO at Wejo. “We’re honored to be a part of the MONET Consortium and be part of the conversations that will help accelerate mobility innovation in Japan.”
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Founded in March 2019 by MONET Technologies, Inc., a jointly sponsored venture between SoftBank Corp., Toyota Motor Corporation and other mobility-focused companies, it includes organizations from a wide range of industries such as construction, finance, education, and real estate. With this assortment of member companies, the MONET Consortium takes advantage of a diversity of thought that can enhance and better serve the mobility technology used by governments and businesses today, as well as those being developed for the governments and businesses of the future. Through MaaS business development in anticipation of autonomous solutions, the MONET Consortium aims to drive next-generation mobility services, address social issues in mobility, and create mobility values.
Wejo’s role in the MONET Consortium will be to offer expert input for the betterment of the mobility ecosystem. In return for its contributions, Wejo hopes to draw valuable insights from fellow member companies to craft a more holistic suite of data analytics products so that they can better address the needs of potential customers.
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