The car-sharing platform provides customers with a wide range of benefits
Octo Telematics subsidiary Omoove, a leading shared mobility technology provider, is further developing Sharemine by opening the car-sharing platform to community managers and the public at large.
The Sharemine Platform
Sharemine is a web-based platform, which allows both companies and individuals to create and monitor car-sharing and ride-sharing communities, as well as act as community managers, which means they can offer vehicles for hire, share their cars, and share rides with each other. Sharemine helps customers save on car ownership costs, earn money, be greener and use telematics technology to make roads safer.
Car owners who share their vehicles with a community can profit from their vehicles when they do not need them. For example, commuters who normally park their cars at a train station can allow a local business or entrepreneur, acting as a community manager, to rent their car for use throughout the day, earning money and saving on parking expenses. Moreover, Sharemine can also be used by communities, such as sports fans arranging transport to games or parents looking to carpool for school drop-offs and pick-ups.
Sharemine has been developed by Omoove, a fully-owned subsidiary of Octo, which focuses on creating shared mobility solutions. The platform will be available in Italy, Spain and the UK starting in October 2017 (subject to local market regulations) with other EU countries to follow, while it will be launched in the United States at the beginning of 2018.
The Sharing Economy
Indeed, the global rise of transportation network companies, such as Uber, and other sharing economy pioneers, such as AirBnB, have heralded a rapid rise in the revenues of collaborative finance, peer-to-peer transportation, on-demand household services and on-demand professional services, the main sectors of the sharing economy.
In the UK alone, Price Waterhouse Cooper (PWC) expects a 60% or £8 billion increase through 2017 and expects the market to grow to £140 billion by 2025. In terms of revenue, peer-to-peer transportation is the UK’s biggest sharing economy sector, with over a third of UK platform revenues.
Globally, revenue generated by car-sharing and ride-sharing is expected to grow at CAGRs of 19.5% and 24.5% respectively. By 2025, revenue is expected to reach USD 9.2 billion from USD 1.5 billion in 2015. In Europe alone, more than 3.9 million people choose to share vehicles or carpool, sharing a fleet of 59,452 vehicles in 26 countries. (source: Frost and Sullivan)
“At its heart, the sharing economy is designed to help individuals create communities that benefit each other whether that is by saving money, saving time or creating new ways to earn by making their assets work harder,” explains Edwin Colella, Omoove Chief Sales and Marketing Officer. “In particular, the high cost of vehicle ownership means that this area has huge cost savings potential for car owners. Technology means ride- and car-sharing are increasingly accessible to everyone and Sharemine provides a simple-to-use way for everyone to be part of their community, while also doing their part for the environment. It enables anyone to become a shared-mobility entrepreneur through operating a car- or ride-sharing community.”
Jonathan Hewett, Chief Marketing Officer at Octo Telematics emphasised that “increased connectivity is opening up a range of options to facilitate ride-sharing and car-sharing and this is being enabled by telematics systems which provide tracking and monitoring of vehicles. Using these systems not only makes the roads safer by encouraging better driving behaviour though usage-based insurance, it also means that vehicles can be connected and easily managed via a single hub – the very core of Sharemine and the sharing economy.”
Omoove
Octo Telematics subsidiary Omoove provides end-to-end Shared Mobility, Fleet Management and Insurance Telematics technology and solutions for car- and ride-sharing operators, corporate fleets and peer-to-peer shared mobility communities.
Omoove is Europe’s leading shared mobility technology provider.
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