Frost & Sullivan’s recent analysis finds the integration of 5G in Industrial Internet of Things (IIoT) systems will accelerate the realisation of Industry 4.0., a key building block of service mobility progression.
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Jun 01, 2020 • News • 5G • frost & sullivan • Managing the Mobile Workforce • worldwide
Frost & Sullivan’s recent analysis finds the integration of 5G in Industrial Internet of Things (IIoT) systems will accelerate the realisation of Industry 4.0., a key building block of service mobility progression.
Wide-spread 5G adoption can benefit field service mobility
While the application of 5G-enabled IIoT is currently limited to quality inspections, supply chain management, and generic machine control, key system manufacturers are actively exploring other areas in industrial operations where the benefits of 5G connectivity can be leveraged for process optimisation and increased automation.
"Incorporating 5G in IIoT devices will enable low latency, increase data throughput, and reduce operation time, thus leading to improved overall process productivity,” said Mogana Tashiani, Frost & Sullivan Technical Insights Research Analyst. "Apart from enhancing the automation of industrial operations and control, 5G-enabled IIoT devices can also minimise the complexity of supply chain networks and warehouse management, helping businesses to efficiently operate in dynamic business environments."
Service leaders will be keeping a close eye on the the roll-out of 5G as widespread coverage should enhance technicians' mobility and bolster current practices such as remote working in the wake of the Covid-19 pandemic.
Tashiani added: "5G will play a key role in ensuring the sustainability of businesses in the wake of the COVID-19 pandemic. The low latency will aid in managing the high traffic to e-commerce by improving network accessibility at a faster pace, accelerating online purchases and order placements. Furthermore, 5G-integrated IIoT devices have the potential to disrupt traditional on-site job functions through remote working and virtual meetings. COVID-19 has led to a massive shift to remote working to maintain business operations on par with on-site job operations."
Key sectors that can leverage the growth opportunities from 5G-integrated IIoT include:
Banks, Financial Services, and Insurance: The BFSI sector deals with millions of transactions every day and most of them are mundane and repetitive. 5G-integrated IoT devices and systems allow transactions to be completed and recorded at a faster pace, increasing accuracy by reducing human errors in the process, thus improving the overall productivity of the system.
Retail: Businesses in the retail sector can automate in-store transactions with 5G-ready radio-frequency identification (RFID) tags, which can be attached to items or shopping carts to facilitate autonomous check-out in brick-and-mortar stores, leading to unmanned/cashier-less stores.
Automotive: 5G facilitates data transfer among AI algorithms, sensors, and mechanical parts to navigate self-driving or autonomous vehicles. In addition, 5G-enabled vehicles establish a connected system in which real-time data transferring and receiving can be achieved conveniently and effectively. Apart from vehicle-to-vehicle communication, interaction with traffic system is possible with 5G technology, which enables data transmission beforehand to achieve practical navigation for certain road conditions.
Further Reading:
- Read more information on Frost & Sullivan's report, Role of 5G Communication Revolutionising Industrial Internet of Things, @ https://go.frost.com
- Read more about 5G usage in service @ www.fieldservicenews.com/5g
- Read more about mobile computing in service @ www.fieldservicenews.com/mobility
- Read more about more about empowering field workers @ www.fieldservicenews.com/blog/tag/managing-the-mobile-workforce
- Read more about digital transformation @ www.fieldservicenews.com/blog/tag/digital-transformation
Sep 16, 2019 • News • Automation • Data • frost & sullivan • Marketing Services • report
Marketing automation solutions market to reach $6.36 billion by 2025, finds Frost & Sullivan
Marketing automation solutions market to reach $6.36 billion by 2025, finds Frost & Sullivan
Aug 22, 2019 • News • frost & sullivan • service supply chain • supply chain • report • Parts Pricing and Logistics
Frost & Sullivan’s latest analysis, Growth Opportunities in the Internet of Things-enabled Supply Chain Management Market, Forecast to 2024, reveals that end-to-end visibility, predictive analysis, transparency, and real-time insights are some of the benefits driving the adoption and implementation of Internet of Things (IoT) systems within the supply chain management (SCM) market. The trend toward IoT-enabled SCM is creating a convergence of disparate sets of providers and the rise of a new ecosystem that will have far-reaching benefits to users.
“Current supply chains will be reinvented as IoT-enabled systems allow unprecedented end-to-end visibility, remote tracking, and control,” said Deepali Sathe, Senior Industry Analyst at Frost & Sullivan. “The increase in automation will significantly improve accuracy of predictions and speed of execution.”
The research identifies market drivers and restraints, offers strategic recommendations, and forecasts IoT revenues in the digital supply-chain management sector until 2024. The research also lists a variety of use-case scenarios across the various segments in supply-chain management.
One of the biggest impacts of technology adoption on SCM has been the introduction of new business models. As data siloes diminish, customers can focus on the benefits that can be achieved as a result of improved end-to-end visibility, ability to remotely control devices, and automated processes.
Vendors offering IoT-enabled solutions can tap into new growth opportunities by:
• Focussing on increasing demand for IoT-enabled, multi-function robots and cobots;
• Investing in the development of sensors and tags required for connected devices;
• Offering strong, multi-layered cybersecurity solutions to tackle potential threats;
• Harnessing data using AI and ML technologies to enable solutions such as chatbots or smart home speakers;
• Meeting customer preference for XaaS business models such as platforms and sensors.
“Technologies such as blockchain can create better and faster processes and prevent fraud, while robotics will enhance automation and precision for greater accuracy.”
Jan 29, 2019 • News • frost & sullivan • Future of FIeld Service
Passive RFIDs has a competitive edge over active RFID but technological advancements are helping to close the gap, finds Frost & Sullivan
Passive RFIDs has a competitive edge over active RFID but technological advancements are helping to close the gap, finds Frost & Sullivan
The growth of Industrial Internet of Things (IIoT) and cloud have given a huge boost to the adoption of radio frequency identification (RFID) technology in Manufacturing 4.0. The interconnectedness of devices has resulted in massive volumes of RFID data that needs to be managed and analyzed, prompting RFID manufacturers to develop high-memory tags that can hold more information, software platforms with a business intelligence layer, as well as cloud-based solutions.
"Due to the rising need for resource and cost efficiency, manufacturers are demanding complete visibility and adopting RFID solutions that aid the real-time location tracking and monitoring of their assets, business processes, and personnel,” said Nandini Bhattacharya Industry Manager for Measurement & Instrumentation at Frost & Sullivan. "Passive RFID has experienced high-volume deployments in the past and will continue to grow, especially in the ultra-high frequency segment, while active RFID, although a smaller market, has potential in real-time location system (RTLS) applications."
Frost & Sullivan’s recent analysis, RFID in Global Manufacturing 4.0 Market, Forecast to 2025, focuses on the trends, challenges, and factors driving the market sectors of tags, readers, and software and services. It provides product revenue and units forecasts, country-wise breakdown of each region, competitive analyses, and a list of key market participants, along with their respective market shares. The study also offers participants deep business intelligence to accelerate growth in a fast-paced market.
For further information on this analysis, please visit: frost.ly/32p
"As the total cost of ownership (TCO) of an active RFID system is prohibitive, small and medium enterprises opt for the more affordable passive RFID solutions," noted Bhattacharya. "Active RFID manufacturers need to focus on the standardization of active 433 MHz RFID to drive its growth. The rising ubiquity of ultra wide band (UWB) and Bluetooth low energy (BLE) RTLS solutions will give the solution an added boost."
Overall, the growing demands for automation and digitization are creating considerable growth opportunities for RFID vendors that:
- Offer solutions that can be easily integrated into the existing manufacturing infrastructure and can enable IoT connectivity.
- Provide precise and accurate RTLS solutions at competitive prices.
- Develop devices with faster read rate, ability to read more number of tags in a single read as well as highly sensitive antenna, compatible form factors, and increased mobility.
- Gauge customers’ requirements and re-structure their business models accordingly.
RFID in Global Manufacturing 4.0 Market, Forecast to 2025 is part of Frost & Sullivan’s global Mechanical Power Transmission Growth Partnership Service program.
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Jan 24, 2019 • News • frost & sullivan • Future of FIeld Service • digitalisation
Frost & Sullivan will host an interactive Growth Innovation and Leadership (GIL) briefing highlighting creative destruction and expansion of traditional business models.
Frost & Sullivan will host an interactive Growth Innovation and Leadership (GIL) briefing highlighting creative destruction and expansion of traditional business models.
Frost & Sullivan's Industrial team will host a live, complimentary GIL briefing, “The Paradigm of Digital Industries and Growth Opportunities - Creative Destruction and Expansion of Traditional Business Models” on Wednesday, January 30, 2019, at 8:00 AM EST (1 PM GMT). The interactive briefing will be hosted by Ram Ramasamy, Industry Director, Automation and IIoT at Frost & Sullivan. The briefing will help to identify the best path forward through digital chaos and avoid common pitfalls that many in the industry have experienced.
For more information and to register for the webinar, please visit: http://frost.ly/2zt
“Ageing workforce and rising complexity in technologies is driving a widening consumption gap between data extraction and value-creation. This is driving customers to adopt smart digital offerings that will augment the available workforce and drive more from less,” said Ramasamy. “Further, as customers focus on core activities – we predict the emergence of industrial subscription economy. A case in point: Customers will shed ownership of assets and shift to asset subscribership.”
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May 09, 2017 • News • frost & sullivan • Future of FIeld Service • Yiru Zhong • Internet of Things • IoT
Commercialisation of narrowband IoT technology is widening growth opportunities, finds Frost & Sullivan’s Digital Transformation team...
Commercialisation of narrowband IoT technology is widening growth opportunities, finds Frost & Sullivan’s Digital Transformation team...
Growth in the Internet of Things (IoT) market, as evinced by increasing launches, investments and partnerships, will accelerate in 2017 with the commercialisation of narrowband IoT (NB-IoT).
This cellular communications technology uses licensed spectrum and offers a standardised low-power, wide-area network (LPWAN) that can capture previously untapped segments of the market. Further, machine learning and block chain technologies are being integrated with different industries, such as financial services and energy.
In Europe, IoT connections are set to exceed 9 billion by 2021.
“IoT applications integrate the consumer into the wider connected system to reflect a truly intelligent society,” said Digital Transformation Research Analyst Yiru Zhong.
“Significant funding in the last 18 months suggests that the IoT market is poised for another shift. The next evolution will be from using data to react to events, to using sentient tools and cognition or ‘predictive computing. IoT 2.0 will thus eventually enable self-healing events in a connected system.”
European Internet of Things Market Outlook, 2017, new research from Frost & Sullivan’s Connected Industries Growth Partnership Service, summarises the IoT landscape in 2016 in terms of adoption, applications and key market players, and forecasts development areas. The study examines enterprise attitudes to IoT adoption and offers eight market predictions for IoT in 2017 and beyond.
IoT 2.0 will thus eventually enable self-healing events in a connected system.”
Five emerging growth areas for IoT identified by the research are:
“Q3 2016 witnessed a surge of large industry participants coming together to establish partnerships for promotion of the IoT ecosystem,” noted Zhong.
With it's impact on the field service industry rapidly shifting from huge potential to huge reality such conversations around IoT 2.0 and it's alliance to sentient tools is a vital focus for the evolution of our industry.
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Mar 01, 2016 • News • frost & sullivan • telematics • TomTom Telematics
TomTom Telematics has been announced as the 2016 European Fleet Telematics Company of the Year in the latest Frost & Sullivan Awards.
TomTom Telematics has been announced as the 2016 European Fleet Telematics Company of the Year in the latest Frost & Sullivan Awards.
The Frost & Sullivan panel commended the company for its successful implementation of industry best practices to innovate and meet changing customer needs. Its open telematics service platform, Webfleet, is enabling partners in different verticals to create applications suited to their individual sectors, which are available to TomTom Telematics customers through the .connect portal.
This allows fleet owners to incorporate a range of software applications that are specific to their industry, enabling them to make smarter decisions to achieve their business goals. Moreover, OptiDrive 360 fulfils the green requirements of customers, helping them reduce idling times, speeding and vehicle maintenance. The technology provides a complete approach to assist drivers in adopting a responsible driving style.
Sathya Kabirdas, Research Manager at Frost & Sullivan, said: “TomTom Telematics has strongly positioned itself in the European fleet telematics market on the strength of its expertise in developing diversified solutions that can help ensure optimum driver efficiency and contribute to operational cost savings for clients.”
Thomas Schmidt, Managing Director at TomTom Telematics, added: “It’s an honour to receive the Company of the Year Award as it is the most prestigious award that Frost & Sullivan bestows on any company. It has been an amazing year for TomTom Telematics and we look forward to driving ahead with our business in 2016, and helping our customers achieve even more.”
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Feb 13, 2014 • Fleet Technology • News • award • frost & sullivan • masternaut • telematics
Due to their recent research on the fleet management market Frost & Sullivan have presented Masternaut with their 2013 award for Competitive Strategy Leadership. Masternaut were selected after successfully differentiating themselves from their...
Due to their recent research on the fleet management market Frost & Sullivan have presented Masternaut with their 2013 award for Competitive Strategy Leadership. Masternaut were selected after successfully differentiating themselves from their competition through a mix of product quality, up-to-date functionality, unique offerings and significant cost savings delivered to their customers.
Frost & Sullivan Research Analyst Latha Rani commented:
“Being adaptive and resilient is a key success factor in the fiercely competitive fleet management services industry, and Masternaut has designed its strategies around offering better value to its customers”
“Masternaut’s product offerings help minimise the carbon footprint of fleets, improve safety, and augment efficiency, which ultimately translates to unparalleled customer value.” Rani added.
In particular it was Masternaut’s desire to collaborate with customers to establish a deeper understanding of their needs whilst simultaneously having their finger on the pulse of the latest market trends that went a long way to securing enhanced customer value. Leveraging market experience to innovate on an ongoing basis, developing truly customisable solutions that meet their clients demands and offering best-in-class after sales service were also key factors for them receiving the award.
With an investment of over €20 million to take forward their technology , their platform Masternaut Connect is designed to employ the latest advancements in telematics, with the aim of delivering superior real-time tracking and communications to improve driver behaviour and fuel efficiency, whilst reducing reduce carbon dioxide emissions. It is through this platform that Masternaut have helped their customers employee management and vehicle expenses, while giving them greater visibility into trends and strategic business data.
Delivering quality end to end service which ranges across hardware, software, communication gateways for data collection, data hosting, server hardware and technology and QA and web-delivered software, Masternaut also has highly experienced in-house customer service teams who specialise on specific sectors.
The company also has a deep pool of satisfied customers using their solutions who will vouch for their services and the fact that many of them have achieved savings as significant as 20% whilst benefitting from the added security fleet management provides.
"Masternaut currently holds an impressive market share in this highly competitive space," noted Rani.
"With over 300,000 vehicles across Europe, the company has achieved an excellent compound annual growth rate of 30 percent from 2009 to 2012."
Of course this would be expected with Masternaut being the largest fleet management services company in Europe, in fact they are now providing services across 32 countries. As the first telematics company worldwide, and with 16 years of experience in telematics, Masternaut have established an excellent brand presence in the market and made the most of their early-mover advantage. With a strong reputation and wide reach the company have built themselves an enviable position from which they can thrive in a competitive market.
The award is handed out each year Frost & Sullivan presents this award to a company that has utilised competitive intelligence to successfully execute a competitive strategy resulting in stronger market share, competitive brand positioning and customer satisfaction.
Frost & Sullivan’s Best Practices Awards recognise companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research in order to identify best practices in the industry.
Many congratulations to Masternaut for achieving this award. A shining beacon for the telematics industry.
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