Integrating Platforms and Accelerators to Drive OT/ IT Convergence in the Logistics industry
The Fleet management market is expected to grow to $35.35 Billion by 2019, at a CAGR of 24.0% from 2014 to 2019.By this time, Asia-Pacific will be the largest regional contributor in the global fleet management revenue. However, this growth is not without its challenges. While legacy processes and systems are the biggest hurdle for the infrastructure and technology currently used in its operations, the slow rate of adoption of newer technologies also slows down the transformation process.
The operations on this industry need a window to its distributed operational environment, in order to be able to assure solutions to make them smoother, cost efficient and faster. Besides, huge inter- dependency between stakeholders makes this problems circular, and creates a glut where resolutions need to be, while almost fully restricting real-time and near real-time collaboration within multi-level operations. As a result, the whole process is usually a viscous, slow moving, creating more issues than aligning the operations to the business objectives.
The industry needs is a transformation of technologies to amalgamate the latest solutions that have been ushered in by M2M and IoT functionalities in the operative process. But, given the present level of industrial maturity, enterprises are facing challenges in adopting innovative technologies that meet the modern automation needs. This is due to the substantial capital cost of any software and infrastructure upgrade. Even the solutions available over the counter, are very tightly coupled to very specific hardware and networking systems. This limits scalability and renders the system unable to function in a collaborative environment. There is a need for embedded intelligence and smart Monitoring solutions in the asset management industry need today, so it can be transformed into efficient operations at optimal cost.
The next generation M2M/ IoT solution infrastructure for global visibility of assets and control systems, remote management and real-time operational intelligence, will use actionable analytics. This will be a scalable and extensible architecture that meets diverse application needs, security & regulatory mandates. It will provide extremely cost effective solutions to realize critical business imperatives through optimum OT & IT convergence, and help enhance contextual autonomic behaviour by enabling remote intelligence to maximize situational awareness and perform mission critical operations locally.