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6 Reasons to Connect the IoT to Electro-Hydraulic Systems

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Global Trade Daily, Technology

6 Reasons to Connect the IoT to Electro-Hydraulic Systems

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Electro-hydraulic systems are common in fleets across several industries, from construction to warehousing. However, they can also be more challenging to manage than some equipment, so businesses should optimize them wherever possible. That means capitalizing on electro-hydraulic automation technologies like the Internet of Things (IoT).

Like any new technology, IoT systems often incur high upfront costs and may require adjustment to get used to. Despite those challenges, the benefits of IoT connectivity far outweigh the potential obstacles. Businesses that can learn what these advantages are and apply them effectively can see considerable operational improvements as a result. 

Here’s what companies should know and the benefits they can reap from implementing IoT in electro-hydraulic systems.

Increased Uptime

Predictive maintenance is one of the most popular use cases for industrial IoT systems and an important part of electro-hydraulic automation. This practice uses IoT-connected sensors to monitor performance factors like hydraulic pressure, fluid viscosity or temperatures to determine when a machine needs repair. The sensors then alert employees when it’s time to maintain the equipment.

These real-time alerts enable faster responses to emerging maintenance concerns, enabling more effective fixes. As a result, companies can achieve previously unattainable levels of equipment uptime. Machine availability can increase by as much as 20%, and maintenance planning time can fall by 50%.

Even a modest improvement in uptime can translate into hours more of availability per year. That extra time gives companies more value from their electro-hydraulic systems, driving higher productivity and profits.

Lower Maintenance Costs

Fleets that implement predictive maintenance programs can enjoy benefits beyond uptime improvements. The most significant of these is a reduction in repair-related costs. U.S. companies spend $50 million annually on maintenance and repairs, so savings in this area can substantially impact the bottom line.

Using real-time IoT data to drive maintenance programs instead of running equipment to failure means companies can fix issues while they’re small. Electro-hydraulic repairs can quickly get expensive and complex, so preventing larger breakdowns like this is essential. Fleets will also raise operating margins by minimizing downtime.

The IoT also provides savings over conventional preventive maintenance. Because IoT-driven approaches are needs-based, they prevent unnecessary repairs and related downtime. As a result, they’re more cost-effective than reactive and standard, schedule-based repair methods.

Remote Accessibility

Electro-hydraulic automation in maintenance is not the only benefit of IoT connectivity. Connecting this equipment to IoT systems also makes them remotely accessible, so routine operations are much more convenient.

Some IoT setups let workers check on connected equipment from their phones. Managers could look at operational data or check maintenance logs without being physically near the machine in question. That leaves more time in the workday to focus on value-adding tasks.

Businesses can also use the IoT to control electro-hydraulic systems remotely. In some setups, that means letting employees make smaller adjustments for improved accuracy and performance, even from a distance. That level of control without the need to be close to the machine can significantly streamline operations and boost output quality.

Improved Safety

Being able to control electro-hydraulic systems remotely also makes operations safer. IoT technologies play a critical role in safety in several industries, and this accessibility is a key reason why. Workers who don’t have to be close to heavy equipment and hydraulic pinch points can use this machinery without worrying about its physical hazards.

Using the IoT for predictive maintenance will further improve equipment safety. These IoT-driven repairs will minimize the chances of an unexpected breakdown, preventing accidents that could endanger machine operators or nearby workers.

IoT sensors on electro-hydraulic systems can also communicate with other nearby sensors to avoid collisions. Machines that detect they’re getting too close to each other can alert workers or automatically shut off to prevent accidents. This electro-hydraulic automation will ensure even a lack of employee awareness won’t jeopardize workplace safety.

Machine-to-Machine Communication

This machine-to-machine communication has implications outside of safety. IoT sensors in electro-hydraulic equipment can send more than location data to other machinery. They can transfer a wide range of workflow data back and forth, letting every machine adjust to changing conditions in the equipment around it.

This communication helps businesses overcome one of automation’s biggest obstacles — a lack of flexibility. In a conventional setup, automated electro-hydraulic equipment couldn’t handle an error or disruption in an earlier part of the workflow. That’s because robotics operate on the assumption that factors remain consistent. IoT connectivity can alert these systems about incoming changes, letting them adjust ahead of time to stop small mistakes from causing significant issues.

Automated systems that can adapt like this are a safer investment. As a result, the IoT can make electro-hydraulic automation more practical and cost-effective for a wider range of businesses.

Long-Term Process Improvements

Fleets that implement IoT systems in their electro-hydraulic equipment to experience these other benefits will also unlock longer-term possibilities. IoT sensors provide hard data on the processes they monitor, and businesses can use it to learn where and how to improve.

Studies show that companies with mature data practices experience two and a half times better business outcomes than those without. That’s because having more information to base decisions on provides crucial context, informing more effective decision-making.

IoT data can show which electro-hydraulic systems require the most maintenance, suggesting what machines to replace and when to do so. Alternatively, it could show where this equipment is most and least effective, informing better usage practices. Companies that review and adapt to this information will become increasingly productive and cost-efficient over time.

IoT Connectivity Expands Electro-Hydraulic Automation

Electro-hydraulic automation is an important part of many operations, and IoT systems can take it further. Businesses that connect this equipment to the IoT can use it more safely, efficiently and in a wider range of applications.

Achieving these benefits starts with learning what this technology has to offer. Getting familiar with the IoT and its potential applications today can equip companies for a more tech-driven tomorrow. Capitalizing on that promise ensures businesses surge ahead of their less tech-friendly competitors.

 

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The Growing Adoption of Smart Cities and IoT Technology is also Driving Growth in the Digital Pump Controller Market

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Driving Innovation: Key Factors Fueling the Growth of the Digital Pump Controller Market

The growing adoption of smart cities and IoT technology is also driving growth in the digital pump controller market. As cities become more connected and data-driven, they are incorporating digital technologies such as digital pump controllers to optimize water management. These technologies enable real-time monitoring and control of water distribution systems, improving efficiency and reducing waste.

The digital pump controller market is experiencing exponential growth, driven by numerous factors. Advancements in technology, such as the increasing availability of IoT and cloud-based solutions, are providing new avenues for the development and implementation of digital pump controllers. The growing focus on energy efficiency and sustainability is driving the adoption of digital pump controllers, as they offer improved control and monitoring capabilities, leading to greater energy savings.

increasing demand for remotely-operated and automated systems is also driving the growth of the digital pump controller market. These factors, along with a growing awareness of the benefits of digital pump controllers, are contributing to the continued growth of this dynamic market.

Embrace the Future of Pump Control: Discover the Unlimited Opportunities in the Digital Pump Controller Market

The digital pump controller market offers significant growth opportunities for manufacturers and suppliers, driven by the growing adoption of smart cities and Internet of Things (IoT) technology, and increasing investment in water and wastewater treatment infrastructure.

The growing popularity of IoT and Industry 4.0 technologies is also contributing to the growth of the market, as digital pump controllers are increasingly being integrated with other smart devices and systems. The increasing focus on sustainability and energy efficiency is also creating new opportunities for the Digital Pump Controller market, as users look to reduce their energy consumption and carbon footprint.

Paving the Way for Progress: The Rapid Development of Asia Pacific’s Digital Pump Controller Market

The digital pump controller market in the Asia Pacific region is poised for significant growth, driven by factors such as increasing demand for efficient and cost-effective water management, growing adoption of smart cities and IoT technology, and increasing investment in water and wastewater treatment infrastructure.

Countries in the Asia Pacific region such as China, India, and Japan are leading the growth of the Digital Pump Controller market, as they focus on modernizing their water and wastewater treatment systems and improving the efficiency of their water management systems. The growing trend of smart cities and the adoption of IoT technology are also contributing to the growth of the market in the region.

The increasing focus on sustainability and energy efficiency is driving demand for digital pump controllers in the Asia Pacific region, as users look to reduce their energy consumption and carbon footprint. The growing investment in water and wastewater treatment infrastructure is also providing new opportunities for the Digital Pump Controller market in the region.

Harnessing the Power of Mobility: Exploring the Vast Opportunities in the Remote Pump Controller Market

The mobile/remote pump controller segment is the most lucrative in the Digital Pump Controller market, driven by the increasing demand for efficient and cost-effective water management, growing adoption of smart cities and IoT technology, and increasing investment in water and wastewater treatment infrastructure.

Digital pump controllers are designed with advanced technology of microprocessor-based system. They use electric sensors that deliver more precise data than traditional pneumatic sensors. Digital pump controllers provide a visible control panel which allow users to efficiently manage the functioning of the system. They can be effortlessly connected with a device and can be remotely operated via remote or mobile.

Additionally, digital pump controllers can be operated by SCADA systems, radio frequency, mobile Apps, and SMS/GSM. Therefore, flexibility concerning ease of usage and quick & easy set-up is projected to boost the growth of the market. Digital pump controllers are developed for automatically monitor and manage the water level, particularly in oil & gas industries, agriculture, and irrigation via remote and mobile phone.

Digital Pump Controller Market: Drivers, Restraints and Opportunities

Upsurge in water pumps installation worldwide is creating the need for pump controllers to manage the operations of water pumps. Digital pump controllers are the safest and complete failure proof solution for long life and trouble free operation of the pumps ensuring continuous and automated pumping operation.

This factor is estimated to bolster the demand of digital pump controllers. Digital pump controllers can function automatically. The controller also turn on or off when the water storing capacity reaches a certain level.

This ensures minimum water wastage and is one of the major factors pushing the demand for digital pump controllers. Additionally, government initiatives for water conservation and projects related to water & wastewater treatment are anticipated to further drive the growth of digital pump controller market.

The economies are focusing on increasing precision in agricultural activities which is estimated to help companies to develop pump controllers that are easy to operate and consume less energy.

Digital Pump Controller Market: Regional Outlook

Asia Pacific is estimated to account for largest share in the global digital pump controller market owing to increasing usage of solar pumps coupled with increasing penetration and introduction of advanced technologies in the region. Following Asia Pacific, Europe is also projected to have significant share in the global digital pump controller market by virtue of growing requirement to decrease the energy consumption of pump controllers.

North America is estimated to grow at a significant growth rate owing to increasing government initiatives in the water & wastewater treatment activities. Latin America and Middle East & Africa are anticipated to witness moderate growth rate in the digital pump controller market during the forecast period.

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IoT Development Kit Market at a CAGR of 17.3% during the Forecast Period of 2022 to 2032

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According to the IoT device management platform analysis by Future Market Insights (FMI), the demand in the market will increase at a healthy CAGR of 24.4% from 2022-2032.

The report states that the market is expected to reach a valuation of ~US$ 4,463.5 Mn by the end of 2022. Sales are expected to be driven by factors such as the overall development of IoT networks and systems, increasing concerns regarding network security, escalating need to track health, etc.

IoT devises management systems allow organizations to collect and analyze data. It also functions as the bridge between the edge network and the user’s downstream data servers and enterprise applications, which is anticipated to augment growth.

An IoT network and device management platform provide centralized management, uncomplicated provisioning, and real-time insights into all current devices and integrations to support organizations stay on top of their deployment. IoT device management platform is integrated with a strong and accessible wireless solution, which permits users to easily broaden their IoT network and solutions at reduced cost and complexity thus, all these advantages offered by the IoT device management platform are contributing to the market growth.

Wearable technology, like smart watches, has enormous potential in the IoT space and for numerous businesses. Fitness and lifestyle-based businesses will mainly find this trend advantageous, considering the fact that various smart watches and wearable devices are combined with health and fitness tracking options.

Wearable IoT devices could be utilized to protect and monitor heart attacks, monitor EMG sensors for stroke patients, and monitor asthma. IoT device management platform offers features such as real-time device tracking, secure connectivity and data collection, data integration across apps/devices, over-the-air software updates, and sensor data analytics for smart wearables. Thus, development of wearable IoT technology is increasing the demand for smart wearables.

Agriculture industry is one the major industries for adoption of IoT technologies for a wide scale of applications like smart irrigation, activating frost fans, automated feeding systems to tank and feed bin tracking, and other mechanized procedures. Predictive analytics feature offered by IoT device for smart farming is the major trend in the agriculture industry because its helps farmers to make plans concerning the production and storage of the crops, marketing approach, and risk management.

As per the report by Business Application Research Center (BARC), the adoption of IoT devices in the agriculture industry have reached US$ 75 million in the year 2020, growing at around 20% annually. Smart farming based on IoT technologies permits farmers to reduce waste and improve productivity ranging from the amount of fertilizers used to the number of journeys the farm vehicles have made, and enabling well organized usage of resources like electricity, water, etc.

“The demand for IoT device management platforms is increasing in the manufacturing sector as these platforms help in monitoring both equipment settings and the outcome of each production step which offers manufacturers stronger assurance of analyzing quality issues at the source. The adoption of IIoT (Industrial Internet of Things) in the manufacturing industry and increasing usage of technologies such as 5G, AI, and Big Data will continue fueling demand,” says an FMI analyst.  

Key Takeaways:

  • By solution, the IoT device management platform segment is anticipated to account for the leading share in the global demand for IoT device management platforms in 2022.
  • By enterprise size, the small and mid-sized enterprises segment is estimated to grow at a robust CAGR of 26.0% through 2032.
  • By industry, the healthcare segment is anticipated to grow at a CAGR of 33.1% between 2022 & 2032.
  • Europe is expected to progress at the highest CAGR of around 33.0% followed by South Asia and the Pacific in 2032.
  • The market in Japan is expected to progress at a CAGR of around 27.8% through 2032.
  • In India, sales are expected to grow at a CAGR of close to 34.0% over the next ten years.

Regional Analysis

  • North America is the market leader, expected to hold almost 35.6% of the market in 2022. The consumer electronics sector of this region is booming, which is fueling the need for IoT development kits. Due to the presence of several prominent players, North America is anticipated to maintain its lead in the IoT development kit market over the forecast period. The North American IoT development kit market has expanded as a result of rising internet usage in countries with developing technology as well as the expanding use of wireless sensors and networks in key end-use industries like healthcare, retail, consumer electronics, industrial, automotive, and transportation. The market is also expanding because of increased research and development (R&D) in the IoT space for new and enhanced technologies, as well as an increase in consumer demand for better lifestyle options.
  • With roughly 24.1% of the market, Europe is the second-largest market shareholder. Since IoT devices are being used more widely there, the region is predicted to develop rapidly throughout the projection period. Additionally, the market is likely to expand in the area as more IoT sensors are being adopted by sectors including automotive, food and beverage, transportation, and others for monitoring. Together with important stakeholders, the European Commission has been working hard to create the ideal European IoT ecosystem and has started a dedicated cluster of R&D initiatives to address security and privacy concerns and promote confidence in IoT solutions.

Competitive Analysis

Using data collected at the Intelligent Edge, IoT solutions for infrastructure, apps, and security enable new experiences and drive improved operations. Large organizations are concentrating their efforts on developers who want to construct Internet of Things devices. This kit includes the software frameworks, network stacks, and cloud connection capabilities required to reliably connect and authenticate devices to the cloud, in addition to the industry-standard hardware components required to quickly prototype a wireless IoT system from scratch.

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The Global Telecom Internet of Things (IoT) Was Forecasted CAGR of 21.9% from 2022 to 2032

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The global telecom Internet of Things (IoT) in 2022 was anticipated to be valued at approx. US$ 45,733.3 Million. With an increasing demand for improved connectivity solutions to connect smart devices, the market is estimated to reach a worth of nearly US$ 3,31,542.6 Million by 2032, with a forecasted CAGR of 21.9% from 2022 to 2032.

Telecom Internet of Things market is considered as the fastest growing market and it provide enhanced connectivity solutions to numerous smart devices.

Technology plays an important role in the development of Telecom Internet of Things market and especially with the innovation of Internet of Things, Telecom Internet of Things market is witnessing the rapid growth.

With the growing adoption of intelligent transportation system and rapid increase in number of smartphones and tablets, Telecom Internet of Things market is experiencing the rapid growth.

Internet of Things comes with the concept that everything around should be electronically integrated and interconnected.

Telecom operators are now using digital platforms that combine connectivity, analysis, mobile, security and cloud to support business and all these empower great revenue opportunity for them.

Major applications such as logistics tracking, traffic management, smart healthcare and others are contributing to the growth of Telecom Internet of Things market.

Key Takeaways

  • The growing adoption of the intelligent transportation system and the swift increase in the number of smartphones, and tablets, are some key factors promoting the growth of the global telecom Internet of Things market.
  • Internet of Things is introduced with the notion that everything around must be incorporated electronically and interconnected. Telecommunication operators are widely utilizing digital platforms which merge connectivity, mobile, analysis, security, and cloud to back business. These factors encourage great revenue prospects for telecom operators.
  • It has been observed and concluded that several key applications like traffic management, logistics tracking, smart healthcare and others are accounting for the overall market growth of telecom Internet of Things.
  • Several aspects contributing to the growing adoption of telecom Internet of Things are increasing penetration of smart connected devices and demand for automation in communication operations and network bandwidth management.
  • Moreover, the development of next-gen wireless networks and increasing use of smart technology and distributed applications are predicted to render considerable growth prospects for the telecom IoT market growth during the future.
  • Increased demand for mobile computing devices and network capacity to access connected services are some of the key drivers that are responsible for the growth of this market industry.

Telecom Internet of Things (IoT) market: Drivers and Challenges

Drivers

The major factor driving Telecom Internet of Things market is the growing need for enhanced connectivity solutions to connect smart devices.

Moreover, the increased demand of mobile computing devices and network capacity to access connected services are the drivers which are contributing to the growth of global telecom Internet of Things market.

Apart from this, the rising demand of telecommunication cloud for smart network bandwidth management and automation in communication operations are driving the Telecom Internet of Things market.

Moreover, the enhancement of smart technology and distributed application will increase the demand for Telecom Internet of Things market.

Challenges

The major challenge for the IoT telecom market is that the network operator should be able to offer fast, reliable and uninterrupted connectivity.

Also, with the increase of connected devices and management of personal data, the privacy and security of customer information is the significant issue for the companies in Telecom Internet of Things market.

Telecom Internet of Things (IoT) market: Recent Developments and Competition dashboard

In June 2017 AT&T and China Telecom signed an agreement to expand partnership to develop network services around the world. Telcos such as AT&T, Vodafone, Verizon and others have done various development in Telecom market.

For instance, in October 2016, Vodafone launches first live commercial NB-IoT network.

The key market players in Telecom Internet of Things markets include AT&T, Inc., Ericsson, Verizon Communications, Inc., Sprint Corporation, Vodafone Group, Plc., China Mobile Ltd, Swisscom AG, Aeris, Deutsche Telekom AG and others.

Telecom Internet of Things (IoT) market: Regional Overview

On geographic basis, North America will be the largest market due to stringent IoT regulations and the presence of large number of telecom Internet of Things service providers in this region.

The market in APAC is expected to witness exponential growth in Telecom Internet of Things market and it is the fastest growing region for the telecom Internet of Things service market due to growing smart devices market and smart technology and experiencing the large number of early adopters of smart technology.

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Managing Organization Device Fleet with IoT Device Management Solutions

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As global adoption of IoT grows in scale, size, and penetration, we are progressively seeing new industrial opportunities emerge. Almost everyone is now aware of the complex configuration of
a heterogeneous fleet of IoT-connected devices and platforms available via many touchpoints, such as self-operable portals, suppliers, and applications. The risk of dispersed and distributed
operating platforms can also be reduced with an IoT device management platform.

The global IoT Device Management market is expected to grow at a robust CAGR of 24.4% from 2022 to 2032 according to a recent report by Future Market Insights. IoT device management platform presently accounts for almost 55% of total IoT platform sales. The
growing need for linked devices will drive up the demand for IoT device management platforms.

The rising adoption of IoT technologies is also predicted to boost demand. According to the Ericsson Mobility Report, approximately 40% of cellular IoT connections are expected to achieve broadband IoT with 4G connectivity by the end of 2027. IoT device management platforms can work with IoT security features, IoT analytics software, and IoT platforms.

IoT device management also entails regularly maintaining and updating the device’s capabilities with firmware upgrades or security patches to guarantee they are working efficiently, securely,
and in compliance. Thus, the enhanced features offered by the IoT device management solutions can magnify the growth of various companies and increase their operational efficiency.

In this blog, we will discuss how these platforms are driven by the IoT intelligent solutions and gain effective insights on the functioning of the company, how the security of the various IoT
devices be enhanced with these solutions, and how companies are turning towards a new IoT device management platform by Amazon to increase the efficiency and security of the various connected IoT devices in a company.

Enhanced Inventory Management with IoT Device Management Platforms

An initial obstacle most companies experience when deploying remote devices is the cost of having qualified personnel in the field programming and maintaining them effectively. These expenses are then multiplied enormously when deployments are considered in other nations and places with stringent security and regulatory policies. Using an IoT device management platform, one may ship a hardware device anywhere in the globe, and a skilled professional can control the configuration of that equipment remotely as long as it can connect to the internet.

Some providers, such as Robustel, go a step further by providing a ‘Zero-Touch’ configuration technique, similar to the Device Templates feature in RCMS. This allows consumers to pre- configure devices with their preferred settings, firmware, and programs, and as soon as the device connects to an internet network, it will instantly download that profile, allowing it to be installed by anyone with no technical experience.

A common issue in the early days of the machine-to-machine (M2M) and IoT installations was that a large amount of device data was captured in spreadsheets or different locations. As a result, as staff members changed and record shifted, devices were misplaced or orphaned. Using a Device Management Platform provides another level of inventory management by recording every deployed equipment in the field along with its firmware, installed apps, and settings so that it can be easily found. For example, Robustel’s RCMS additionally has a geolocation component that allows the companies to localize their IoT devices on a map using GPS or cell tower triangulation. Manufacturers can reduce the amount of inventory on hand while satisfying the demands of the consumer at the end of the supply chain by using real-time data about the quantity and location of inventory items with this platform. This helps in better tracking and tracking the various devices. This is how the companies can support their IoT devices using such IoT device management platforms.

Enhanced Organizational Security for the IoT Devices

Accessing remote IoT devices with backdoors is simple for some people or hackers. As a result, the likelihood of exploiting a device’s operating system and firmware application security flaws is considerable. IoT devices, like PCs, mobile devices, and tablets, require software and firmware updates from time to time to guarantee that vulnerabilities are effectively resolved. Previously,
this was accomplished by flashing firmware with a computer connected via USB or Ethernet; however, an update to programs or firmware can now be supplied Over-the-Air (OTA). A device
management platform will be required to assist a corporation with these OTA upgrades.

A fundamental advantage of a highly integrated IoT device management platform, such as Digi Remote Manager, is its ability to identify and mitigate security breaches like attempted device
configuration changes, as well as to notify system administrators of these events. Digi Remote Manager® (Digi RM) is a technology platform that takes networks to the next level by enabling
networks – and the people who operate them – to work intelligently. It combines a large number of scattered IoT devices into a dynamic, integrated platform. Businesses can now quickly activate, monitor, and diagnose hundreds, if not thousands, of mission-critical devices from a single point of control. Digi RM monitors the network for disturbances and incursions and alerts workers when action is required. It sets up alerts for critical conditions. Reports on network
performance are also available. Configure, update firmware, schedule, and automate processes from your desktop, tablet, or phone. This provides improved protection for the many IoT-
connected devices in an organization against threats and dangers associated with the entire IoT system.

Companies can also quickly extend their network at scale with bi-directional, open integration and bring intelligence to the edge with custom code, APIs, and Python scripts with this technology. Meanwhile, software-defined security vigilantly protects the entire Digi ecosystem. At the same time, Digi Remote Manager provides all of the above at a lower initial and ongoing cost than other industry options. Above all, Digi Remote Manager will automatically monitor
and repair network device security by monitoring dozens, hundreds, or thousands of active connected devices that require network monitoring software. Human eyes cannot keep up with such a large number of files.

AWS IoT Device Management- a new platform by Amazon to help companies gain more Efficiency

AWS IoT Device Management is a cloud-based device software application that allows users to manage IoT devices securely throughout their lifecycle. AWS IoT Device Management allows
businesses to onboard device information and configuration, monitor their fleet of devices, organize device inventories, and remotely manage devices deployed across many regions. This
remote management includes device software upgrades delivered over-the-air (OTA).

AWS IoT Device Management assists businesses in registering new devices by uploading templates that they populate with information such as device manufacturer and serial number, identity certificates, or security policies via the IoT management console or API. Then, with a few mouse clicks, they may configure the entire fleet of devices with this information.

AWS IoT Device Management allows you to organize your device fleet into hierarchical structures based on function, security needs, or any other criteria. Companies can group one device in a room, devices that function on the same floor, or all devices that work within a building. They can then utilize these groups to administer access policies, see operational analytics, and conduct actions on your devices on behalf of the entire group. They can also use
dynamic thing groups to automate device organization. Their dynamic thing groupings will automatically add devices that fulfill their set criteria and eliminate those that do not.

For example, the Volkswagen Group produces around 11 million cars per year and imports 200 million parts per day into its factories—a tremendous scale on which to run an efficient global
supply chain. Volkswagen is collaborating with AWS to consolidate its 124 plant locations under a unified architecture: The Volkswagen Industrial Cloud. The Group will then connect Volkswagen’s global network of over 1,500 suppliers to the Industrial Cloud in the following stage. The company makes use of AWS machine learning services, which execute algorithms based on data collected from sensors on the shop floor, as well as AWS Outposts. Thus the
efficiency in the company can be accelerated and enhanced both with the help of smarter IoT device management solutions, like AWS.

Conclusion

IoT device management systems are frequently used to manage an organization’s device fleet by IoT professionals and operational managers. These platforms aid in the collection of devices, the
authorization and interpretation of reported data, real-time monitoring, and software updates.

Furthermore, these platforms serve to alleviate the strain of complex device administration, making the overall network more efficient in its totality. A device management platform may
connect to various devices, retrieve information about their condition, and even change the status as needed. Most of the time, these platform management solutions are supplied as SaaS or PaaS.
Using an IoT device, any type of developer can reduce time to market. However, if the companies use a device management platform to control such devices, the time can be reduced
even further. An IoT device management platform provides everything a business needs to set up and operate a network straight immediately. Furthermore, a future-oriented network architecture enables the rapid and scalable development of large-scale installations.

These factors have the potential to accelerate the future growth of the IoT solution. Overall, as businesses simplify and automate network system and device management processes, they
reduce the cost, and requirement for technology, staff, and knowledge. As a result, companies can increase their core skills while also lowering their costs.

Modern IoT device management platforms are scalable and provide a solid infrastructure for implementing IoT solutions at a low cost. More advancements in this discipline, as well as other
emerging technologies such as AI, are expected in the future. In the future, IoT and AI can produce powerful analytics and insights for even SMEs.

Author Bio : Aditi Basu, Marketing Head at Future Market Insights

Aditi is the Marketing Head at Future Market Insights (FMI), an ESOMAR-certified market research and consulting Market Research Company. The award-winning firm is headquartered
in Dubai, with offices in the US, UK, and India. The award-winning firm is headquartered in Dubai, with offices in the US, UK, and India. MarketNgage is the Market Research Subscription Platform from FMI that assists stakeholders in obtaining in-depth research across industries, markets and niche segments. You can connect with Aditi on LinkedIn.

Future Market Insights (FMI), is an ESOMAR-certified market research and consulting market research company. FMI is a leading provider of market intelligence and consulting services, serving clients in over 150 countries; its market research reports and industry analysis help businesses navigate challenges and
make critical decisions with confidence and clarity amidst breakneck competition. Now avail flexible Research Subscriptions, and access Research multi-format through downloadable databooks, infographics, charts, and interactive playbook for data visualization and full reports through MarketNgage, the unified market intelligence engine powered by Future Market Insights. Sign Up for a 7 day free trial!

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The emergence of logistics platform

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Since the start of the pandemic in early 2020, the logistics supply chain industry began to experience difficulties. Due to the air traveler restrictions in most countries, air transport was the first to reduce their normal scheduled flights which disrupt air transport shipments. Then, ocean transport experienced its own set of problems; vessels had to berth longer out of the ocean since ports were operating at half capacity because of the alternating work schedule of its workers. Problems worsened with an increased demand of containers capacity by Asian manufacturers due to an explosive demand by e-commerce. As a result, ocean liners were not quick enough to return empty containers back to Asia, which created a supply chain backlog and a price increase to the industry.

The International Trans-Pacific Ocean freight charges significantly increased over the last two years. For example, the cost of moving shipment from South East Asia regions cost $3,000 USD/container to the US. It gradually increased every other month and reached $11,000 USD/container by December of 2020, an increase of more than 300% in over a year. The cost reached $16,000 to (US-West Cost) and $19,000 to (US-East Coast) in main ports by December 2021. An inland transport to the final destination, for example, Atlanta, costs $26,000/container. Imagine, a container that has 1,000 items from Asia to the US with a transport cost of $3.00 had become $26.00/ item. It is why inflation has been unusually high.


 

The logistics company (transporter) has been operating an offline business method for decades. Operating business in an offline environment makes operation and administration slow, expensive and non-transparent. Quotations given by transporters listed too many itemized charges, making it difficult for shippers to analyze. Charges at origin and destination varies among transporters. Shippers who want to get five quotations must make inquiries to five different local transporters, requiring about 2-3 days for one quotation to be delivered. Companies using an offline business method lack efficiency and are far behind those who have adapted to technology. We are now living in an online world where platform news, social communication and shopping is done in an instant, and businesses should use a technology platform to its advantage.

Shippers who participate in Logistics Platform would be able to analyze available transporters at Origin and at Destination. Logistics service information is properly displayed and all questions can be answered directly by transporters with the chat feature in the platform. With just a few clicks, shippers will be able to confirm shipments to transporters with transparent detailed services: pricing, schedules, document requirements at origin and at destination. Once the shipment is accepted by transporters, work-order and reminder note are issued by the platform to alert everyone involved. A shipper that paid $26,000 from Jakarta to Atlanta in an offline environment, would only pay $22,500/container in platform business model.

Internet technology is an important factor in our daily lives. The relationship between transporters and their shippers is now more interactive with direct communication. A platform with its embedded algorithm into digitalization would speed up and minimize transporter manual operation and paper administration. The status of delivery in Bangkok can be instantly viewed by the Shipper in Amsterdam. The identity of the truck and driver is available for shippers in Tokyo to track before shipment is released. Digital Proof of delivery in Los Angles is transmitted to the transporter in San Francisco to speed up invoicing and confirmation of acceptance by Shipper. Warehouse space becomes easily searchable with the selection of available warehouse operators where the platform operates. Decision-making is faster with less human involvement and operation becomes simpler.

We are now able to do almost everything using our smartphone, and it has become our identity and trusted 24/7 companion. Any individual with a smartphone can create products and sell online from every corner in the world. There are now more individuals who have joined Global Digital Market as either Buyer or Seller, driving the demand of logistics services. A platform that fits into the Business-Consumer trend will open up new channels and bridge the transition from traditional systems would attract many followers. The integration of the Logistics Industry with Internet Technology will be beneficial for all parties involved. With no barriers, shippers in Jakarta able to make a seamless transaction to select transporter at Jakarta and at Atlanta via smartphone or computer in just a few clicks. Companies that fail to catch up with Digitalization and Automation will lose out their Development Growth to connect the Online World, which demands direct interaction, competitive pricing and consolidated services.

Traxens
Archives, Global Logistics, Global Trade Daily, News

Traxens Raises 23M€ and Acquires NEXT4 To Become the World Leader of Shipping Container Tracking

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TRAXENS, the leading smart-container service provider for
the global supply chain industry, announced today a new financing round of €23 million ($25+ million) from the company’s existing shareholders. The funds will be used to fuel Traxens’ international expansion starting with the acquisition of NEXT4, a fast-growing French supplier of removable and reusable shipping container trackers.

Traxens’ Internet-of-Things (IoT) solution is based on a breakthrough technology that enables access to the most comprehensive, precise and timely data for managing assets in transit anywhere in the world. In addition to tracking container geolocation, it detects shocks and monitors temperature and humidity, as well as the open-or-closed status of container doors.

The acquisition, confirmed today, will allow Traxens to streamline and merge NEXT4’s offering into its suite of solutions, providing customers with the best of both solutions — including shipments scheduling, collaborative risk management, and analysis reports. The newly consolidated company is now the market frontrunner in providing overseas cargo visibility and offers Traxens’ customers a technological edge in container tracking solutions.

“Integrating NEXT4 into our company dramatically increases our ability to serve the growing needs of our customers as they digitalize their business processes, while adding freight visibility, cargo security and goods integrity,” said Traxens CEO David Marchand.

Founded in Toulouse in 2018, NEXT4 provides trackers that can be attached to containers from point of origin to the final destination. This provides freight forwarders with a premium tracking solution and gives customers 24/7, real-time data on the status and location of their goods via sensors inside the containers.

Tens of thousands of NEXT4 trackers have been adopted by leading freight forwarders such as Bolloré Logistics and DB Schenker. Airlines have also approved the latest version of its trackers, a smaller and more versatile device, that allows them to be adapted to the needs of the air freight industry.

The €23 million round of financing follows a Series C funding round of approximately €20M ($22.7M) raised in 2019. This new acquisition will enable the consolidated French company to continue deploying its smart-containers worldwide, while building new relationships with major players in the supply chain, including companies focused on container leasing, insurance and
transport management systems.

As it moves into new markets in the U.S., South America and Asia, Traxens will also use the funding to further expand its portfolio of solutions to address the increasing needs of freight forwarders and beneficial cargo owners (BCO) for supply chain transparency.

“Joining the Traxens group enables us to market our innovative solution on an internationalNEXT4 will operate as a wholly-owned subsidiary of Traxens with offices in Toulouse. In addition
to remaining as CEO of NEXT4, Rosemont will serve as Traxens’ chief marketing officer. scale and to jointly develop new products and solutions with their team,” said NEXT4 CEO and founder Cédric Rosemont. “Our highly complementary solutions will meet the current and future challenges of shippers and their logistics providers. This means NEXT4’s customers also can benefit from Traxens’ solutions, which are now being widely deployed by container owners.”

NEXT4 will operate as a wholly-owned subsidiary of Traxens with offices in Toulouse. In addition to remaining as CEO of NEXT4, Rosemont will serve as Traxens’ chief marketing officer.

Both CEOs will be available for interviews about this strategic merger at the TPMTECH (Feb.24-25) and TPM22 (Feb. 27-March 2) trade shows in Long Beach, Calif.

infrastructure
Archives, Global Trade Daily, News

4 Major Trends Propelling the Growth of Automated Infrastructure Management Solutions Market by 2027

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There has been a significant rise in the number of data centers globally over the past few years, driven by the increasing storage and computation requirements to serve applications based on machine learning and AI. This has strongly influenced the adoption of automated infrastructure management solutions and systems across data centers worldwide. The demand for these systems is being further stimulated by the rising penetration of connected consumer electronic devices which is opening new growth opportunities for the automated infrastructure management solutions market.

The market growth is also being accelerated by the growing proclivity towards renewable power generation. AIM solutions help in enhancing the grid efficiency, reliability, safety, and resilience for energy and utilities. They also aid in increasing decarbonization through cleaner electrification and real-time climate data management.

As per the recent report by Global Market Insights, Inc., the automated infrastructure management solutions market is projected to surpass USD 4 billion by 2027, considering the following trends:

New product launches by major companies

Various major companies active in AIM solutions industry are focusing on the development of innovative infrastructure management tools to effectively meet consumer demands and consolidate their position in the market. Quoting an instance, in 2021, RiT Tech, a leading provider of converged IT infrastructure management and connectivity solutions, launched automated infrastructure management tools, designed to bring real-time visibility, control, and monitoring of the entire network physical-layer components.

Burgeoning demand for device discovery solutions

Device discovery solutions find extensive application in various industries owing to their ability to manage the connected environments in real-time. These solutions help in the automatic correlation of performance in all infrastructure tiers for isolating the root cause of problems by detecting the exact device of concern. In addition, they also deliver information regarding the connected devices and their activities in IT infrastructure. Besides, they also help in storing and collecting information about cabling connectivity as well as its connection with other sources through Application Program Interfaces which is fueling the adoption of device discovery solutions further.

Heightened adoption in IT and telecom sector

Growing investments in 5G infrastructure with the shifting consumer preferences for next-generation technologies and smartphones is one of the major reasons driving the adoption of AIM solutions in IT and telecom sector. These solutions provide real-time insight into illegal IT activities along with the automatic recording of all modifications. This in turn helps in improving the asset utilization, reducing the troubleshooting time, offering faster service turn-up, and better network security. In addition, it offers a GIS service that facilitates visualization of locations, engineering architecture, and connections in the physical infrastructure levels as well as the service trail layers and the logical networks.

Expansion of data centers in North America

The continuous growth in the data center infrastructure in North America is largely contributing to the expansion of the regional AIM solutions industry. This can be ascribed to the factors such as increased usage of cloud computing, rise in IoT, and expansion of mobile broadband in the region. In addition, the shifting of numerous data centers and various companies from hardware to software-based services in the U.S. is driving the data center installations. Besides, the increasing penetration of automated connected devices is further impelling the adoption of data center management solutions, complementing the business expansion.

Briefly, the automated infrastructure management solutions industry is growing with the adoption of advanced technologies like AI, IoT, and machine learning, coupled with the expansion of data center infrastructure globally.

Source: Global Market Insights Inc.

 

logistics
3pls, Archives, Global Logistics, Global Trade Daily

Sales Digitalization Trends in the Logistics Industry

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The logistics industry across the globe is entering a new era. The accelerated development of digital technologies, combined with recent pandemic events, is the main catalysts for this change. With an increased demand for mobility and remoteness, digitalization is affecting all transportation segments, including sales processes that were firmly rooted in traditional procedures. As a result, companies worldwide are following sales digitalization trends in the logistics industry. They gather, process, and organize large volumes of information and work on making them easy to understand and use.

Current and future sales digitalization trends in logistics

This emergence of digitalization across various fields is bringing a lot of new players to the market. Once primarily dominated by large businesses, the transportation industry is experiencing a large influx of smaller distribution companies. The rise of modern, dynamic, remote-focused, and customer-oriented companies is now creating high competitiveness, which calls for a range of changes, from marketing to sales procedures, for many. The sales funnels need to go through a complete transformation to improve business operations.

What changes in technologies will have a breakthrough impact on the business now and in the next few years? Here are several sales digitalization trends every logistics company should be aware of:

-Online sales and automated pricings

-Shifting the focus to customer journey

-Automatization of procedures (AI)

-Customer acquisition changes

-Blockchain efficiency

Online sales and automated pricings

More than half of logistics companies are establishing online sales processes. However, not all the steps are touched equally. One example is the ability to provide online quoting and price estimates. Previously, they served more as an approximate estimate based on a specific set of static rules. Followed later by calls or contacts in person for negotiations. But, the ongoing digital sales revolution calls for a more dynamic solution. In general, by considering the type of goods, average delivery time, prioritization of shipments, and overall costs, the sales departments need solutions to provide instant and more precise results.

One way to solve this problem is to use dynamic automated pricing engines. They will collect real-time data by analyzing and combining different resources. Only then will you be able to successfully forecast and derive instant and precise rates. More likely, something similar to the software solutions airline companies are using today.

Shifting the focus to customer journey

The future of sales lies in their ability to focus on the customer journey. So far, it’s been proven multiple times that relationships with customers are what drive the best results. In essence, this requires specific tools like Customer Relationship Management (CRM) software solutions, which will allow you to better manage current and potential customers and communication with them. You will be able to gather behavioral and other data to help you increase sales through better customer service. In addition, CRM allows you to track and trace a variety of data – everything necessary to identify patterns so you can predict customer preferences. And prevent potential issues in the supply chains. There are also IoT tracking and tracing tools logistic companies can use to monitor shipments on both ends. Allowing such transparency will increase your company’s credibility, improve procedures, and make the transportation process more profitable.

Automatization of the procedures (AI)

Dealing with new technologies on a larger scale is never easy. Many companies experience difficulties when they need to adjust new salespeople to the changes. Fortunately, the training process can be much easier with the help of digital solutions. With Artificial Intelligence (AI) available today, we can automate many previously manual procedures, making the entire training and working system more efficient and less time-consuming. Rather than investing a lot of resources into slow mentor-like coaching, sales can use the capabilities of automation through upgrading their infrastructure and technology.

Another aspect of why AI is much better to focus on lies in these systems’ additional functionality. Features like tracking finances, anomalies, delays, and better delivery planning and predicting will reduce the overall logistical risks.

Customer acquisition changes

Like for many other industries, the logistics salesforce has to follow new arising trends in customer acquisition. This is the use of social media and other alternate networks. You can increase your business operations and provide better customer relations by using these digital platforms for engagement. Previously, social media channels were the mere focus of marketing teams. However, the need and goals of marketing and sales have to align and combine perfectly to give sales a chance to improve their operations. Whether we like it or not, this shift to social network communications is establishing itself as more than just a place of entertainment for customers. Active publishing means more quality leads for your sales in the future.

Blockchain efficiency

In addition, blockchain technology solutions can make your logistics process more effective. And improve your brand image as a whole. By allowing your customers to follow the delivery, you will increase the transparency and credibility of your services. It’s time effective and creates a better customer experience. Everything you will need to acquire more loyal customers.

Adopting all the digital solutions in your sales process doesn’t come without challenges, especially for older, larger, and more established logistics companies. When everything is firmly rooted in traditional approaches, transforming the entire business model is complex. Fortunately, scaling everything across your salesforce is everything but impossible. If you follow the best sales digitalization trends in the logistics industry, you can easily remain competitive in this new industrial revolution that is shaking the transportation world.

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Dave Atkinson is currently working with the Best Movers in Florida on providing helpful information and guidelines for researching, improving, and planning the moving business. His writings can be used by both transportation companies and their customers to better understand advanced technologies in logistics processes.

Supply Chain Industry
3pls, Archives, Global Logistics, Global Trade Daily

Factors that are Reshaping the Supply Chain Industry

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In the modern supply chain, the technology and software you use are as important as your strategies. Plenty of decisions and actions you need to take now happen in the digital world. So, you must pick the right technology if you want to see better efficiency in your chain. In essence, choosing the solution you want to use can make or break your position on the global stage. Hence, technology is and will stay one of the main things that define the game. But, what are the exact factors that are reshaping the supply chain industry? Well, that’s what we’re here to find out.

Last year, COVID-19 took the supply chain to a new place, but not all in a bad way. The changes that took place opened new opportunities and created new practices for companies. We found ways to improve agility and eliminate risks, and things are only getting better.

To figure out how to make them better for your system, take a look at the key things that are transforming the industry at the moment.

Artificial intelligence

Algorithm-based decision-making software and data analyzers are being adopted in every niche, so it’s clear that the era of useful AI has arrived.

When it comes to the supply chains, among other things, AI can help you eliminate human error and reduce costs. It’ll allow you to restructure workflows, so all your workers can be more focused and productive. The technology will support them and make their jobs easier. We’ll explain how this happens a bit later.

The pace of technological change

Technology is developing faster than we can learn to use it. Let’s take eCommerce as an example. It provided people with a whole new way of shopping and took the world by storm. All of a sudden, you’re able to find anything you need and have it delivered to your door without ever having to leave the comfort of your home. Thanks to it, customer demands and expectations have changed. Now, they expect quick and even same-day deliveries. So, the logistics industry has to respond to that to stay in favor of people.

As a company, the only way to stay relevant is to build a reliable infrastructure and learn how to use new technology developments. Experts believe that online and mobile shopping will be the preferred way of buying for the majority of people in the future. Even today, people are getting everything from groceries to appliances online, so why would that change in the years to come?

To update your system, try to make your processes more streamlined. That will give you a better chance of keeping up with modern timeframes.

The Internet of things

We can’t talk about the factors that are reshaping the supply chain industry and not mention the Internet of things. Although most people will associate the term with smart home appliances, this technology is actually invented to deal with sensors and tracking equipment.

So, the IoT is what you’ll use if you want to reduce commercial warehousing costs. However, it can help you do much more than just that. With it, you can connect all the products, people, and processes within your organization and share information among them in real-time. Just like that, everything becomes streamlined, and your productivity goes up.

Automation and robotics

Of course, people have been using task-specific robots for decades in industries such as automotive. However, the latest generation of robots can learn how to do multiple tasks, so they have much more potential.

In supply chains, you can find a use case for these almost anywhere. Add AI into the mix, and you quickly realize that robots can bring many new things to manufacturing processes and reduce staff costs. With time, more and more repetitive or dangerous tasks will be performed by these.

Big Data

Big Data is used to track data and measure the performance of factories in real-time. In past times, to survey workers, you had to put an entire factory under surveillance. But today, modern sensors and networks give us insights that we couldn’t get before. You can even collect data on each and every employee if you want to. This way, you’ll spot problems much more easily and fix them sooner.

When you remove the bottlenecks in the delivery process, you’ll also improve the lives of your workers. You’ll streamline their roles, and they won’t waste time on unnecessary or frustrating tasks. If you rely on Big Data-driven decision-making, you’ll create a leaner business model and reduce wastage.

3D printing

If we’re talking about prototyping new products and designs, there isn’t a tool as useful as 3D printing. Companies that invested in it say that they managed to halve their prototype production times, and that’s a huge thing. If you have to wait for weeks until you get parts to start working, that creates problems right down the supply chain. It lengthens the process and increases the costs. On the other hand, 3D printing alleviates supply chain weaknesses that already exist.

Use it, and you can apply design iterations to the molds within hours. So, you’ll be speeding up the process and encouraging the closer engagement of product designers and the manufacturing team. And for that, 3D printing is one of the factors that are reshaping the supply chain industry.

Factors that are reshaping the supply chain industry – delivered

Incredible advancements in technology are at the root of all factors that are reshaping the supply chain industry. If you fail to incorporate them, you will fall behind. Therefore, follow the latest trends and introduce the changes that will streamline your processes, make your business functioning more efficiently and productive.

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Deon Williams is a freelance writer with a degree in systems engineering. Although it’s not his main job, he loves to write articles and share his expertise. In the past, Deon helped companies like zippyshelldmv.com to streamline their processes and increase their earnings. When he’s not working, he loves to read in his comfy chair and play basketball with his two sons.