VESTELLALAB Co., Ltd. (CEO Jeong Sang-soo) announced that it will participate in CES 2024 to be held in Las Vegas, USA in January next year and introduce ‘Zero Cruising’, a V2I autonomous driving solution.
Although the development of self-driving car technology is active, it is experiencing difficulties in the unmanned autonomous parking sector due to the parking status in GPS shaded areas, the location of empty parking spaces, and a lack of parking route information. Accordingly, VESTELLALAB developed a ‘Zero Cruising’ solution that transmits information collected from indoor infrastructure to autonomous vehicles through V2I communication.
Zero Cruising receives static and dynamic information from CCTV footage from parking lots equipped with VESTELLALAB’s infrastructure, analyzes the information collected from positioning sensors, and guides users to the optimal parking space for autonomous parking. In addition, real-time risk factors that can occur in blind spots during autonomous parking, such as unexpected situations and obstacles, are recognized, analyzed, and transmitted to the autonomous vehicle. VESTELLALAB expects that Zero Cruising will establish itself as a technology that completes fully autonomous driving by providing a solution to preemptively avoid blind spot risks.
VESTELLALAB is a company that developed the ‘Watch Mile’ solution that accurately identifies and provides the location of the driver’s personal vehicle using IoT (Internet of Things) and smartphones. Their solution, which integrates generative AI (artificial intelligence)-based vehicle recognition technology, parking space recommendation algorithm, and shortest path search algorithm, aims to create the optimal route to the parking space and provide it to drivers.
Typically, in a parking lot with many vehicles, drivers had to drive and wander around to find their own space. However, WatchMile significantly reduces this need based on core functions and enables parking up to 70% faster. This not only dramatically reduces wasted costs for individual drivers, but also provides optimized facility operation efficiency for parking lot management and business operators.
An official from VESTELLALAB said, “In a congested metropolis like Seoul, we will be able to save more than 100 hours of time per year by shortening the existing 20-minute parking time to 5 minutes.” He added, “In the United States, the hourly wage is $9; “Assuming the average parking fee is $6 per hour, this amounts to an economic benefit of more than $1,500 per year,” he added.
VESTELLALAB plans to introduce the characteristics and excellence of the Watchmile solution, which improves the efficiency of both individuals and businesses, at CES 2024 and seek overseas sales channels, including North America.
A company official said, “We selected specific segments as strategic targets to collaborate with key stakeholders in the U.S. market,” adding, “In the transportation sector, we mainly focus on introducing and improving smart parking navigation solutions by working with major airports in the U.S. “In addition, we are striving to provide innovative parking and mobility solutions that meet the needs of major shopping centers.”
In addition, VESTELLALAB seeks cooperation with major construction companies and hotels in each country to introduce its smart parking system to new urban development projects and hospitality sectors in various countries and regions.
An official said, “We have already introduced our system to department stores, airports, convention centers, etc. in Korea and secured more than 100 references, and with more than 40 global intellectual property rights (IPs), we are fully equipped for overseas business.” “As a global leader in smart parking systems, we will actively promote our strengths and features at CES.”
Meanwhile, ‘CES’, the world’s largest IT exhibition hosted by the Consumer Technology Association (CTA), is an exhibition where you can see the flow of innovative technologies around the world at a glance and is held every January in Las Vegas, USA. AVING News, which has covered CES for 18 consecutive years, has reported CES news around the world every year since 2006, and has been selected through ‘BEST OF CES’ and ‘BEST OF MADE IN KOREA’, which select the best innovative products, companies and technologies. has been in progress. In addition, CES on-site issues are vividly conveyed through ‘AVING LIVE’.
The CES 2024 Seoul Unified Hall will be operated at the largest scale in terms of exhibition area, number of participating companies, and number of participating supporters since Seoul City’s first participation in CES in 2020. The Seoul Integration Center, in which 13 organizations collaborate and participate, is an important step in Seoul’s efforts to make Seoul a mecca for startups, and 17 of the companies participating in the Seoul Integration Center proved this by receiving innovation awards. The participating institutions in the Seoul Unification Center are ▲SBA ▲Seoul Bio Hub ▲Campus Town ▲AI Yangjae Hub ▲Gwanak-gu ▲Yonsei University ▲Korea University ▲Chung-Ang University ▲Sogang University ▲Kookmin University ▲Hanyang University ▲Konkuk University ▲Kyunghee University. Not only the Seoul Metropolitan Government, institutions, and companies, but also supporters through industry-academia cooperation are matched 1:1 with companies, and 85 supporters, the largest number, will participate.
* Special reporters: Joseph Choe, Kidai Kim, Dongkwan Kim, Mokkyung Lee, Sangun Choi, Seung Hyun Nam, Sunghwan Kim, Taeuck Lim, Min Choi
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