By 2027, ABI Research forecasts the installed base of Artificial Intelligence (AI)-enabled cameras to be 976.4 million, signaling a growing need for machine vision technologies. Today’s companies offering machine vision solutions are vital to the betterment of a number of applications, encompassing manufacturing, smart cities, building development, public safety, logistics, and transportation. An abundance of modern Machine Learning (ML)-based software products are embedded with edge ML capabilities that vastly improve a wide range of use cases, notably image-based inspection. This means a robotic system with an installed camera stacks pallets correctly or a flaw on a product's surface can be detected. To give you a better idea of how these systems work and who is providing them, this post highlights eight machine vision software companies that are helping enterprise customers work more efficiently.
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Consumers are showing a growing preference for contactless payments, which is pushing many regions toward a cashless economy. For example, Pew Research Center notes that 4 in 10 Americans (41%) have stopped using physical cash for weekly purchases, which is nearly double the number in 2015. Not only would a cash-free society make everyday transactions a lot easier for consumers, but it is also bound to reshape the banking and financial services space. As confirmation that the world is migrating to digital-first payments, consider that the global mobile wallet installed base will increase by 2 billion in just 5 years—climbing to a total installed base of 5.6 billion by 2027, according to ABI Research.
Europe, being one of the most developed and affluent regions in the world, will play a key role in the widespread 5G rollout. Europe is at the forefront of smart cities, campus lab testing, sustainability, and telecommunications innovation, not to mention the consumers, manufacturers, and various industrial enterprises that seek an improved mobile experience and/or must run automated systems on a private network. Each of these applications, among many others, will use 5G coverage as the backbone for myriad use cases.
Recently, ABI Research wrote a research report taking a deep dive into the current public safety network environment. One of the main highlights was that, while 4G/Long Term Evolution (LTE) cellular broadband is efficient in public safety use cases, 5G is fast approaching the emergency services space. The superior positioning, latency, and reliability of a 5G network will enable emergency services and emergency response teams to work more efficiently, gather better situational awareness, and accomplish the ultimate goal—save lives by reducing response times.
The first step toward the smart power tool was the advent of the connected power tool. These intelligent tool systems provide manufacturers, construction companies, and Do-it-Yourself (DIY) consumers with valuable data about their power tools, as well as various levels of automation like smart drilling/torque settings. Although the smart power tool market is immature, there are a number of reasons why the market will grow in the coming years, notably the practical application of tool data.
Upon hearing the word “metaverse,” many people think about gaming, virtual commerce, attending a sporting event, or other consumer applications. However, the enterprise metaverse—not the consumer space—has a greater incentive to take the plunge and invest in virtual solutions. This is because several substantiated use cases of the metaverse have already been demonstrated for business operations. Spanning everything from employee training to enhancing virtual conferences, and improving remote work to customer experience, the metaverse is not short on benefits for the enterprise. In this article, I will point out five of the most compelling use cases of the metaverse in enterprise settings.
Like virtually every other industry, the telecommunications (telecom) industry has been affected by current macroeconomic and geopolitical trends (war in Europe, high inflation, global warming, etc.), causing doubt about the future of their enterprise. In some areas, the influence of these key telecom trends may not be as severe as you’d think, but in other areas, there are some radical departures taking place. To help operators and ecosystem players understand the effects of ongoing global challenges, and how to plan for the future, ABI Research has compiled some of the most important developments surrounding the telecoms sector.
Although the COVID-19 pandemic put a hold on biometric payment card projects in 2020 and 2021, the industry has proven to be resilient. Numerous partnerships have formed and each one signals the intention of an eventual commercial launch. With contactless payment cards accounting for 82% of all cards issued this year, biometrics is the next step in payment solutions, as it provides a convenient, safer, and more secure way to transact. Biometric-based payments are also a key aspect of a cashless economy, something that many societies are aiming for in the future.