Bolt relies on TomTom technology for more efficient delivery
The Dutch mapping and geolocation specialist TomTom will now provide its traffic data to the Estonian mobility company Bolt to improve routing for its ride-hailing and food-delivery services. Bolt operates in over 45 countries on 5 continents and 500 cities and has more than 150 million users. The goal is to increase operational efficiency, focusing particularly on route optimization tools that allow drivers and couriers on the Bolt platform to see the exact location of their customers and reach them on time. Travel time and estimated time of arrival (ETA) for each trip are expected to become even more reliable with TomTom, thanks to access to real-time speed data from over 600 million connected devices and billions of miles driven per day.
This is expected to lead to better time management and ultimately higher revenues for partners. As TomTom's products integrate well with Bolt's existing routing technology, Bolt can also use its own resources more efficiently, according to the provider.
“With TomTom Traffic, we were able to improve travel time predictions by up to 15 percent, leading to higher revenues for our partners and improved service quality and reliability for Bolt drivers and customers," explains Markus Zimmermann, Head of Platform at Bolt.
Mike Schoofs, Chief Revenue Officer at TomTom, believes that by integrating Bolt's local knowledge of traffic events and traffic disruptions into their own data, they can leverage the collective knowledge of the partners to provide high-quality and reliable location and traffic information.
Bolt is an Estonian technology company that offers mobility services such as ride-hailing, car sharing, e-scooter and e-bike rentals, as well as food deliveries. According to a report by the US market research company Grand View Research, the global market for ride-hailing services is estimated to be around 117 billion USD in 2023 and is expected to grow to over 160 billion USD by 2025; the global market for food delivery services is estimated to be around 254.52 billion USD in 2023 and is expected to grow to 505.50 billion USD by 2030.
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