Try and think of an industry that hasn’t been touched by connected technology becoming intertwined with the physical world. Odds are, if you can think of something, you’ve got the next big startup idea on your hands.
The rate of change for industries today is unprecedented, being ushered in by this new era of connectivity — what’s termed the Fourth Industrial Revolution. First came steam power, then electricity, then computational power. But now, from self-driving cars to drones to smart grids to biometric sensors, connectivity is powering businesses to revamp how they do things.
A term coined by Prof. Klaus Schwab, founder and executive chairman of the World Economic Forum, what’s really astonishing about the Fourth Industrial Revolution is that it is both global — not confined to certain cities or countries like past revolutions — and it’s growing exponentially — not as linear as the growth of electric-powered factories, the assembly line or even the personal computer. We used to imagine one car or one computer for every home. Now we imagine a sea of connected devices for every house and car, and more devices being worn by every person.
At CalAmp, we see how connected technology is proliferating and changing industries every day. From Internet of Things (IoT)-enabled automotive products that improve safety for vehicles and enhance customer service for fleets, to supply chain solutions that provide instant visibility into the condition of in-transit goods, to industrial equipment management, which enables businesses to optimize utilization and OEM manufacturers to refine engineering design, CalAmp’s solutions create change on many fronts in this revolution.
The rate of change for connected vehicles is particularly astonishing. We anticipate that 75 percent of the 92 million cars shipped globally by 2020 will have internet-connected hardware. But the effects of having connected, intelligent vehicles is apparent today.
This Fourth Industrial Revolution is evident in many of our products and services. Through our CrashBoxx® platform, for example, auto dealers, insurers and fleet managers can gain real-time insights, providing a detailed analysis of a collision in minutes. These key metrics can assure that these businesses know immediately if a vehicle needs to be towed or taken out of service. It can provide a reconstruction of an accident within minutes. It also can help accelerate emergency response, expedite repair and mitigate fraud. Companies around the world have adopted the solution, from Italy to Brazil, and we are seeing that worldwide momentum continue.
CalAmp’s IoT-enabled capabilities drive down costs, increase reliability and reduce waste in countless industries. It is all part of what we call The New How for the Fourth Industrial Revolution. Connected device data gives our customers the insights they need at scale, so they can deploy IoT solutions across a broad array of their business assets. Communication will no longer be a relay of information. It will be always-on, shining a guiding light that signals where this revolution takes us. It is going to make it difficult to imagine a day when all this data wasn’t immediately available and instantaneously insightful.
Watch for more announcements in the run up to Mobile World Congress about how CalAmp is shaping The New How for the Fourth Industrial Revolution.