Mobility as a service (MaaS) incorporates the options/elements of an emerging and new transportation model—particularly in urban areas—that removes the need for private vehicle ownership by offering bundled transportation options as a service. Through an integrated effort of public and private organizations, riders can embark on personalized and optimized transportation routes using a variety of different transportation modes including cars, buses, trains, bikes and scooters. MaaS promises to revolutionize transportation by building and lkeveraging platform technology to connect and improve all aspects of travel. The philosophy can be applied across a broad range of technologies from autonomous cars through to connected cities. For businesses, MaaS initiatives aim to unify all modes of transport for a business into one simple and easy to use platform with the objective of improving cost and efficiency through shorter travel planning and cost comparison. For families or solo travelers, Mobility-as-a-Service aims to improve the planning and management of travel into a customized journey without the challenge of searching through multiple booking search engines.
Every business model requires a monetization method. Mobility-as-a-service on the surface has a straightforward model: MaaS providers charge either a fixed-rate or variable rate for different service options. However, things get complicated due to the interconnectivity of the system. While specific roles maintain traditional revenue models such as manufactures wholesaling, transportation providers rely on a complicated method for dividing up payments. This method hinges upon many variables including rides per day, distance traveled, cost per trip, etc. These organizations will need to evolve towards a equitable system that makes MaaS profitable for all those involved.
As the world experiences a quantum leap in the speed and scope of digital connections, industries are gaining new and enhanced tools to boost productivity and spur innovation.
Over the next decade, existing technologies like fiber, low- to mid-band 5G networks, low-power wide-area networks (LPWANs), and Wi-Fi 6—as well as short-range connections like radio-frequency identification (RFID)—will expand their reach as networks are built out and adoption grows. At the same time, new generations of these technologies will appear with upgraded standards. In addition, new types of more revolutionary and more capital-intensive frontier connectivity like high-band 5G and low-Earth orbit (LEO) satellites will begin to come online. Together, these technological developments will unlock powerful new capabilities across industries. Near global coverage will allow the expansion of use cases even to remote areas and enable constant connectivity universally. Massive IoT advances will be enabled as new technologies allow high device densities, and mission critical services will take advantage of ultra-low latency, highly reliable, and highly secure connections.
From healthcare and manufacturing to mobility and retail, there are hundreds of promising use cases for the emerging generation of enhanced connectivity. Together, advanced and frontier connectivity could help seven sectors add a total of $2 trillion to $3 trillion in additional value to global GDP.
According to B2B market research firm MarketsandMarkets, the remote asset management market is projected to grow from USD 16.5 billion in 2020 to USD 32.6 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 14.6% during the forecast period. The major factors driving the remote asset management market include the adoption of IoT-enabled remote asset management solutions to manage assets efficiency, decreasing cost of IoT-based sensors optimize asset life cycle through remote asset management solutions, and use of predictive maintenance to boost the adoption of remote asset management, thereby reducing operational costs of remote assets.
Other key findings of the research include
Solution segment to lead the remote asset management market in 2020
Analytics and reporting solution sub segment to grow at a higher CAGR during the forecast period
Mobile asset segment to grow at a higher CAGR during the forecast period
On-premises segment to lead the remote asset management market in 2020
Small and medium-sized enterprises segment to grow at a higher CAGR during the forecast period
Manufacturing vertical to lead the remote asset management market in 2020
North America is estimated to hold the highest market share of the remote asset management market in 2020.
In Asia Pacific (APAC), the market is projected to grow at the highest CAGR of 17.3% during the forecast period due to the demand for remote asset management solutions and services in countries, such as China, Japan, India, and rest of APAC.
New research suggests that we may be at the beginning of a new business model paradigm for industrial equipment.
Back in 2010, few people foresaw that the 2010s would see a major shift in business models towards what is now widely known as the “subscription economy”.
There is one underlying reason why these as a service business models thrive: consumers want outcomes, not ownership. And in the 2010s, subscriptions became the dominant model of choice to get rid of that ownership.
We believe that we are at the cusp of a new business model innovation that would disrupt enterprise equipment ownership: equipment as a service – where companies pay for outcomes, not equipment.