Wejo, a Smart Mobility for Good™ and cloud and software solutions provider for connected, electric, and autonomous vehicles, announced it has joined the MOET Consortium, an organization actively promoting collaboration and innovation for mobility services in Japan.
What does the partnership mean for Wejo?
Wejo will have the opportunity to work with firms 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 $61bn in 2030, according to Yano Research Institute.
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.
According to Statista’s “Automobile Sector in Japan” report, Japan also produces 8.1 million vehicles per year, which perfectly aligns with Wejo’s objective 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 three-billion-dollar addressable market by 2030 for Wejo Smart Mobility for Good products and services. We’re honored to be a part of the MONET Consortium and be part of the dialogue to help accelerate mobility innovation in Japan,” said Richard Barlow, founder and CEO, Wejo.
What is the market offering of the MONET Consortium?
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 firms from a range of industries such as construction, finance, education, and real estate.
With this assortment of member companies, the consortium takes advantage of a diversity of thought that can enhance and better serve the mobility tech used by gov’ts and businesses, and those being developed for the governments and businesses of the future.
Through MaaS business development in anticipation of autonomous solutions, the cohort aims to drive next-generation mobility services, address social issues in mobility, and create mobility values. Wejo’s role will be to offer expert input for the betterment of the 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. For more, visit MONET Consortium website.