Global fleet management market to hit $16bn by 2025

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verizon fleet management

According to a new report by Grand View Research, the value of the global Internet of Things (IoT) fleet management market is predicted to hit $ 16.86 billion by 2025 – at a compound annual growth rate (CAGR) of 20.8 percent.

Fleet management covers a range of systems and tools, with each sharing the aim of improving productivity and keeping both customers and company accountants happy. Many of these tools rely on IoT technologies, connecting vehicle-specific data to a central platform for tracking and analysis.

Read more: Feeling the chill: Bringing IoT to cold chain logistics in retail

The advantages of deploying fleet management solutions are becoming clear to logistics companies, and to any business with a highly mobile workforce. Benefits range from using GPS tracking to pinpoint where employees are at a given moment, to route optimisation, remote diagnostics, automated administration, and improved driver safety.

But arguably the biggest benefits lie in fleet analytics, especially for companies that have highly mobile workforces. With enough source data, usage patterns begin to emerge. This means that driver performance can be correlated with working hours, for example, and vehicle maintenance can become proactive rather than reactive.

The result is a double win: fleet operators can increase operational efficiency at the same time as reducing expenses.

Some of the sector’s biggest players have vast business experience in connectivity and transport, such as Verizon and TomTom, respectively.

Read more: Verizon launches connected vehicle management firm

Key findings from the fleet management market report

The Grand View Research report hinges on connectivity. For fleet management systems to offer benefits in real time, wireless connectivity and a supporting infrastructure are obvious essentials. This is why the technology has been adopted in Europe and North America faster and more widely than anywhere else, says the report.

It predicts that regional markets where connectivity is already established will continue to grow steadily in the coming years.

However, it is expected that countries with booming ecommerce markets, such as India and China, will also see a spike in fleet management adoption, as authorities and businesses develop more efficient transport and delivery systems. As a result, the report pinpoints the Asia Pacific IoT fleet management market as the most promising region over the forecast period.

Aside from geographical variations, the report suggests that, within the sector, device management – covering sensors, smart tags, and mobile devices – will be the fastest-growing hotspot, with a CAGR of 21.7 percent.

Read more: LeasePlan and TomTom partner on connected fleet management

Internet of Business says

The IoT’s smart mix of connected assets, dashboard management, and usage data is proving to have countless applications in business, of which fleet management is just one. But with most existing vehicles fast depreciating in value – a problem that may be solved in the long run by the on-demand use of autonomous vehicles – and with fleets being expensive to run, fuel, and insure, IoT insights could prove invaluable, not just on companies’ bottom lines, but also in terms of minimising the environmental impact.

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Smart cities market value to hit $2 trillion by 2025, says Frost & Sullivan

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The overall market value for smart cities will surpass $ 2 trillion by 2025, according to Frost & Sullivan – with artificial intelligence (AI) at the heart of it.

The analyst firm believes AI, alongside personalised healthcare, robotics, advanced driver assistance systems and distributed energy generation will be among the cornerstone technologies of future smart cities.

With more than 80% of the population in developed countries expected to live in cities by 2050, now is the time to act. According to a study from Counterpoint Research, which this publication examined earlier this week, there will be more than 125 million connected vehicles shipped by 2022.

The convergence of technologies – such as smart cars integrating with smart traffic lights – will be an important factor, but getting citizens engaged will also be key. Last month, Gartner put together a series of recommendations for local government CIOs in Asia, citing the importance of discussions between the government and its citizens. According to Frost & Sullivan, more than half of smart cities will be in China, generating $ 320 billion for its economy by 2025.

Europe will have the largest number of smart city project investments globally, according to the research, while the total North America smart buildings market – comprising smart sensors, systems, hardware and software – will surpass $ 5bn by 2020. The analysis also noted the rising importance in Latin America, citing Mexico City, Santiago, Buenos Aires and Rio de Janairo as active cities in this area. Smart city projects in Brazil will drive almost 20% of the country’s IoT revenue by 2021.

“Currently most smart city models provide solutions in silos and are not interconnected. The future is moving toward integrated solutions that connect all verticals within a single platform,” said Vijay Narayanan, senior research analyst at Frost & Sullivan in a statement. “IoT is already paving the way to allow for such solutions.”

You can find out more about Frost & Sullivan’s smart cities studies here.

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New report assesses global cellular IoT market through 2025

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A new report by TMR Research looks into all possible aspects of the global cellular IoT market through 2025 – trends, market shares, market strategies, growth drivers, restraints, opportunities, regional outlook and key players.

According to the report “Cellular IoT Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 – 2025”, Wireless area networks (WAN) will drive the growth prospects of the global market from 2017 to 2025. WAN, possible through cellular networks, is projected to connect majority of the devices.

Among the key drivers of the market are the growing demand for extended network coverage and outsized capacity to can connect countless devices.  TMR Research added that the growth of the NB-IoT segment is another driving force behind the global cellular IoT market. Also, the surging deployment of cellular IoT in smart meters and smart grids is likely to support the growth of the market.

On geographical basis, TMR Research has segregated the global market for cellular IoT into four regions: Asia Pacific, Europe, North America, and the Rest of the World. Further impetus to the global cellular IoT market will come from the mushrooming smart city projects in several Asia Pacific countries including India, China, South Korea and Japan. 

In the meantime, a RCR Wireless News story has complied four predictions for the cellular IoT market.  The first projection made by Berg Insight stated that the top 10 mobile operators globally account for 76% of the cellular IoT market. While Ericsson projected that the number of IoT devices with cellular connections is anticipated to touch 1.5 billion in 2022, Grand View Research estimated that the value of the cellular IoT market will go up to $ 9.65 billion by 2025 from almost $ 1.8 billion in 2016.

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Report Shows Half of Public Buses Will be Electric by 2025

Triple the Electric Buses

The total number of electric buses servicing the public will more than triple by 2025, according to a new report released by Bloomberg New Energy Finance (BNEF). In 2017, there were 386,000 electric buses in service. The BNEF report predicts that number will balloon to about 1.2 million in the next seven years, meaning approximately 47 percent of the global municipal bus fleet will be running on electricity.

Image Credit: Wikimedia Commons/LN9267
Image Credit: Wikimedia Commons/LN9267.

China is expected to dominate this push. According to Aleksandra O’Donovan, the study’s author and BNEF analyst: “China will lead this market, due to strong domestic support and aggressive city-level targets.” His analysis concludes that China’s buses will account for 99 percent of the world’s battery-powered buses.

International Effort

This is not a trend unique to China. New York City is also working to introduce more all-electric buses into service. The Metropolitan Transportation Authority (MTA) released information at the beginning of the year that it is currently testing a fleet of 10 electric buses to help modernize the city’s massive transit fleet. According to a 2016 report by Judah Aber at Columbia University, switching the entire MTA fleet of buses to electric buses would result in an annual reduction of 575,000 metric tons of carbon dioxide emissions within the city.

The biggest obstacle to the transition from gas-powered to electric-powered buses is the difference in upfront costs, which may discourage public transportation authorities from investing in envrionmentally-friendly fleets. However, the 2016 Columbia University report stated that, while electric buses typical cost $ 300,000 more than diesel buses, that cost is made-up over the electric buses’ lifetimes. Aber estimated that annual savings for an electric bus — thanks to reduced fuel costs — is $ 39,000, which would compound over the bus’ 12-year lifetime.

The environmental impact of switching to electric-powered buses is clear. Joining New York City and China’s efforts are mayors from 12 major cities — from London to Paris to Los Angeles — who have pledged to stop purchasing new gas-powered buses by 2025. Global commitments like this will make public transportation more sustainable, reducing the number of gas-powered vehicles on the streets.

Public buses are also ideal candidates for the switch to electric, because they travel along predictable, set routes. This means operators will not have to worry about how far their buses can travel on one charge, a common concern for owners of personal electric cars. As the obstacles for integrating personal and public electric-powered vehicles are systematically eliminated, the global community will be able to make strides towards more environmentally-sustainable means of travel.

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Trump administration wants to end NASA funding for the International Space Station by 2025

The Trump administration is preparing to end support for the International Space Station program by 2025, according to a draft budget proposal reviewed by The Verge. Without the ISS, American astronauts could be grounded on Earth for years with no destination in space until NASA develops new vehicles for its deep space travel plans.

The draft may change before an official budget request is released on February 12th. However, two people familiar with the matter have confirmed to The Verge that the directive will be in the final proposal. We reached out to NASA for comment, but did not receive a response by the time of publication.

Any budget proposal…

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Why IoT in agriculture is set to see ‘incredible’ growth until 2025

The use of IoT solutions in agriculture can bring in a revolution to the industry by enhancing productivity, minimising agriculture wastage, and overcoming climate related natural calamities, according to a new missive from Transparency Market Research.

Enhanced agricultural productivity implies a decline in the number of undernourished individuals, the count of which stands at 795 million between 2014 and 2016, as per the Food and Agriculture Organization data. 

The need for IoT in the agricultural industry is driven by the need to monitor health and performance of livestock and the uncertainties in climate change, which negatively impacts agriculture production. However, the growth of IoT in agriculture market is restrained due to a lack connecting services in agriculture. It is anticipated that the IoT in agriculture market will witness incredible growth during 2025. The increasing use of internet and smartphones is anticipated to make significant growth opportunities for the IoT in agriculture market throughout the world.

The use of IoT in agriculture incorporates advanced technologies and solutions for real-time monitoring of agricultural fields via real-time collection and analysis of data. In addition, IoT can be used for several other agricultural tasks such as examining livestock, inventory management, soil monitoring, climate control, moisture monitoring, nutrient monitoring, crop scouting, yield monitoring, smart logistics and the list continues.

At a time when unfavourable weather conditions throughout the world are affecting production, integration of IoT is expected to show significant rise to surmount these issues.  Cisco Systems, AGCO, Semios Technologies, SenseFly, DeLaval and Advanced Ag Solutions are among some of the leading providers of advanced agricultural IoT solutions.

Meanwhile, a new report from ReportLinker has projected that the IoT market will grow to $ 561.04 billion by 2022 from $ 170.57 billion in 2017, at a CAGR of 26.9%. 

Read more: The Internet of Things in agriculture: A guide

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Prepare Yourself for the “Tsunami of Data” Expected to Hit by 2025

Data Tsunami

Our internet-connected devices could be impeding climate change efforts, according to an update to a 2016 peer-reviewed study on power consumption, as reported by Climate Home News. The billions of devices many of us use every day could produce 3.5 percent of global emissions within 10 years and 14 percent by 2040. This would result in the industry using approximately 20 percent of all of the world’s electricity by 2025. This growing problem threatens to disrupt progress toward climate change goals and exacerbate increasingly-stressed power grids.

These severe consequences are caused by one, major, underlying trend: the rapidly growing power needs of server farms which store data from billions of smart devices. As we acquire more devices and use data and these technologies more and more, these servers require significantly more power. And, as it turns out, we are asking a lot of these server farms, and current predictions say it’s only going to get worse.

Swedish researcher Anders Andrae, who worked on the study update, thinks that industry power demands will increase from 200-300 terawatt hours (TWh) of electricity per year to 1,200 or even 3,000 TWh by 2025. Andrae comments: “The situation is alarming. We have a tsunami of data approaching. Everything which can be is being digitalised. It is a perfect storm. 5G [the fifth generation of mobile technology] is coming, IP [internet protocol] traffic is much higher than estimated, and all cars and machines, robots and artificial intelligence are being digitalised, producing huge amounts of data which is stored in data centres.”

Digital Universe

We have known for years that things like driving, leaving lights on, and letting the water run too long wastes energy and resources, and we should take some personal responsibility for our impact on the planet. But as technology has progressed, the ways in which we affect the environment and contribute to climate change have also changed. The data that we use and the number of devices we own are also now major elements to consider when we think how we use resources. We can even take into consideration our financial investments, as it was recently revealed that the cryptocurrency giant Bitcoin, through mining, consumes more energy than 159 entire countries combined.

Renewable Energy Sources Of The Future [Infographic]
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But does this energy responsibility rest solely on us? The companies whose technologies use this increasing energy could also make changes in order to reduce energy usage or transition to better renewable energy sources. What these companies do, the technologies that they create, and the way we use them each have relative and specific impact on the environment. And, as many experts have agreed, we need to make every effort if we are to meet the climate goals that will prevent further life-threatening consequences of climate change.

So no, this does not exactly mean that we need to stop using our devices. The availability and easy access to information that the internet provides is not only a precious resource, it is a human right, according to the UN. The education that the internet can provide is an essential part of modern life. But as companies continue to advance technologies, and we carry on consuming them, it’s paramount for both sides to take into consideration what impact these devices will have on the future.

 

Disclosure: Several members of the Futurism team, including the editors of this piece, are personal investors in a number of cryptocurrency markets. Their personal investment perspectives have no impact on editorial content.

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Industry Minister Promises a Coal-Free Italy by 2025

Coal-Free Italy

Italy’s Industry Minister Carlo Calenda has proposed a plan to phase out the country’s coal power plants by 2025. This move is part of a broader strategy that will see 27 percent of gross overall energy consumption come from renewable sources by 2030.

To get to a coal-free Italy, the country’s government is consulting Terna Group, the company that maintains the Italian power grid, on what infrastructure will be required to put this plan into action. The country’s biggest utility, Enel, has already pledged that it won’t construct any new coal-fired power plants going forward.

The new energy strategy will also see a greater effort to encourage Italians to transition to vehicles powered by alternative fuels. While the program is still under discussion, it’s expected that the government will sign off on the proposal by the end of November.

End of the Road

The downsides to coal are well documented. As well as contributing to air pollution that kills a huge number of people every year, there’s evidence that it’s actually less cost-effective than renewable energy at this point.

With this in mind, many countries are already making moves to discontinue their coal power production. The Netherlands will close all of its coal power plants by 2030. France has an even more aggressive outlook, aiming to do so by 2023.

Meanwhile, India has closed 37 coal mines, and China is in the process of retiring older coal power plants and replacing them with facilities that produce less harmful emissions. Earlier this year, Great Britain went 24 hours without the need for coal-generated power–a good sign for its goal of ceasing its reliance on the fuel by 2025.

Coal certainly seems to be on its way out, and that’s good news for anyone that appreciates clean air.

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Futurism

Flying-car Company Aims to Make On-Demand Air Taxis Happen by 2025

Flying Cars

This past April, German company Lilium Aviation enjoyed a successful flight test of its full-scale prototype flying car. Now, the company behind this vertical take-off and landing (VTOL) aircraft has made more significant progress in building the business as this technology develops. Specifically, Lilium has hired two new executives who will focus on scaling the business as it advances successful commercial applications for its VTOL planes and on-demand air taxis.

Image Credit: Lilium
Image Credit: Lilium

Executive Remo Gerber will serve as Lilium’s chief commercial officer. Gerber has experience both in physics and managing a ride-hail business. It is this latter experience that he might be calling on more in his new role, as he will be instrumental to the success of Lilium’s long-term plan to become the flying version of Uber by creating an on-demand network of VTOL jets. The jets would take off and land from pads throughout cities where passengers could hail rides. In true startup style, Gerber will also be wearing the CFO/COO hat and managing finances and investor relations. Gerber told Recode that Lilium is “laser focused” on bringing its VTOL jets to market and the business is already starting to collaborate with regulators and commercial partners.

Ready To Transform Transportation

Lilium may not be the only company on the market with a dream of making this kind flying car service a reality. It is competing against the likes of Larry Page-backed Kitty Hawk and Uber. However, Lilium has the distinct advantage of a proven business concept and $ 11.4 million raised in venture capital.

Image Credit: Lilium
Image Credit: Lilium

Lilium plans to manufacture its aircraft in-house, which brings us to the other new executive: Dirk Gebser, who will serve as VP of production. Previously, Gebser served as VP of assembly at Airbus for two models and was also the director of manufacturing engineering at Rolls-Royce. At Lilium, Gebser will be lending his experience to the company as it strives to meet its 2019 deadline for launching its first crewed flight. Meanwhile, Uber hopes to demonstrate the abilities of its flying cars in Texas and Dubai by 2020. As more and more new modes of transportation come to market, we can expect to see a lot of progress in the field of flying cars.

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5G connections to reach 1.4 billion by 2025, says Juniper Research

5G connections will reach 1.4 billion by 2025, says Juniper Research

The number of 5G connections is likely to top one billion by 2025, according to new figures by Juniper Research. However, revenues from 5G IoT are likely to disappoint, analysts warned.

The forecasts represent an increase from an estimated one million in 2019, the anticipated first year of commercial launch. This will represent an average annual growth of 232 percent.

The analyst company’s new report, 5G Market Strategies: Consumer & Enterprise Opportunities & Forecasts 2017-2025, warned that to be successful, 5G fixed wireless broadband would need to meet expectations in real-world scenarios to compete with fibre broadband.

It said that China, the US and Japan would have the highest number of 5G connections by 2025; together these three countries will have 55 percent of all 5G connections.

The research found that the US alone will account for over 30 percent of global 5G IoT connections by 2025, with the highest number of 5G connections underpinning fixed wireless broadband and automotive services.

Read more: Wait for 5G? The IoT needn’t hold its breath

Disappointing IoT revenues from 5G

In terms of commercial IoT revenues, Juniper forecasts that  ARPC (average revenue per connection) will be disappointing, including those for smart city and digital health applications.

The firm says this is due to low data requirements and nominal duty-cycles. The research urged operators to develop new business models in order to minimize network operating costs, including software-based solutions to manage the diverse requirements of individual 5G IoT connections.

The research outfit added that maximizing connectivity revenues through 5G fixed wireless broadband would prove crucial to offset this disappointment, with ARPC from these connections forecast to remain above $ 50 until 2025.

“Operators and vendors must test their networks in a real-world environment at scale, ensuring speeds can compete with fibre services,” said research author Sam Barker. “Networks that can deliver the highest speeds and greatest reliability will command the highest ARPCs, hastening an operators’ return on 5G investment.”

Read more: IoB Insiders: The certain uncertainties of 5G

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