Road rage might not fix traffic problems, but these ASX small caps are trying to
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Sometimes problems with our roads are that bad, we get road rage. Congested streets, no parking, unexpected encounters with our fellow drivers.
But there are a handful of ASX stocks that feel our pain and are trying to solve some of the problems with our roads.
Sometimes parking can seem that difficult you feel like you spent longer trying to find a park than actually driving to your destination.
One ASX small cap focused on this area is Smart Parking (ASX:SPZ). This company makes parking sensors – including those coloured red/green lights which tell you when a parking spot is occupied or not.
These are all powered by an internet of things gateway called SmartSpots. These can also control lighting and air quality of the car park.
The company slumped to a $2.6m loss last year but has received takeover interest in recent months. So far it has rejected all offers and made it clear any buyer will be have to offer a premium.
Another company using the internet of things to improve traffic is Traffic Technologies (ASX:TTI).
It makes road signage, traffic signals and outdoor lighting. But its signature product is Traffic SmartCity Technology (TST) which monitors public assets such as street lights.
This year the company has gradually expanded into various overseas markets with significant orders coming from New Zealand, Singapore, China, Qatar and Mexico. As of October, 16,000 sensors were deployed globally.
Also helping traffic authorities is Redflex (ASX:RDF), which makes red light and speed cameras. And you can’t say you weren’t warned about speed limits because its lane management solution Red X does just that.
Park’d (ASX:PKD) builds entire car parks. Its structure, which can be up to six stories high, can be pre-fabricated off site and quickly installed where it’s needed.
While the company has only been listed for two years, it has won a number of tenders and is seeking more. One project it has bid for is the Mandurah (a southern suburb in Perth) station car park.
And when you need a lift instead of a carpark, that’s where Jayride (ASX:JAY) comes in.
Jayride compares airport shuttle, shuttle bus a private transfer companies and helps you find the best deal.