News

Technology adoption and growth rates outpace expectations: research

Some trends have accelerated within months for what was previously part of a 5-year plan

e-commerce tech

Technology adoption and growth rates outpace expectations: research. Source: shutterstock.com

From 2019 to 2020, global e-commerce revenues significantly rose over 20% year over year, making vehicle, robotic, and software automation to alter the supply chain landscape in a matter of months, ABI Research reports.

These changes are anticipated to continue to evolve and persist as both consumer and business digital and contactless behaviors become entrenched. Limited trials that began prior to 2020 are now attracting government exemptions, revenue-producing activity, and massive investment.

The pandemic laid bare existing gaps in digitization, integration, and tenuous contingency plans.  Additionally, labor shortages have been magnified from volatile product demand, employee quarantines, and seasonal peaksrn
Susan Beardslee, Principal Analyst, Freight Transportation & Logistics  

According to the research, technology adoption is growing rapidly across the supply chain with software and hardware to support vehicle automation, robotics, AI and Machine Learning, blockchain, and computer vision systems.

For instance, self-driving truck company TuSimple partnered with Navistar and Penske on an Autonomous Freight Network with 11,000 industry total SAE Level 4 autonomous commercial vehicles expected to ship by 2025 in North America. Asset visibility of vehicles, trailers, and cargo is increasingly required with a diverse list of providers from Verizon to Orbcomm, CalAmp, and Mercedes-Benz Vans’ CoROS with global asset tracking revenue expected to exceed $20 billion by 2025.

We’ve reported that in collaboration with Global Payments and NMI, Mastercard launched its initial cloud point-of-sale acceptance technology.

SEE ALSO:

Pay Space

6828 Posts 0 Comments

Our editorial team delivers daily news and insights on the global payment industry, covering fintech innovations, worldwide payment methods, and modern payment options.