Market Intelligence news desk

Airbnb – Disrupting the Travel Industry, One Partnership at a Time

Airbnb continues to gain traction in the corporate travel marketplace, as it announced in July 2017 that businesses users with access to Concur can make booking accommodations without exiting the expense management platform. This move represents an extension of the existing partnership between Airbnb and Concur dating back to 2014, when Airbnb integrated into Concur’s TripLink service. This partnership enabled business travelers to use TripLink to make direct bookings on Airbnb while their data automatically synced with Concur’s expense reports and travel itineraries.

Electronic Logging Devices (ELD) and Their Impact on the Trucking Sector

Electronic logging devices (ELDs) are an electronic solution connected to a truck’s engine to record Hours of Service (HOS) compliance and keep Record of Duty Status (RODS) while the truck is in motion, per the Federal Motor Carrier Safety Administration (FMCSA). A driver will be able to log in and select their driving segments status—on-duty, off-duty or on-duty/not driving—and can access the number of hours drove in a day. This device eliminates paper log books and relieves pressure to drive beyond the legal hours (60 to 70 hours for 7-8 consecutive days) of service limits.

Live Broadcasts on Social Media

It’s not breaking news that social media is getting into the live sports arena, but Facebook’s recent broadcast deal with FOX TV for UEFA Champions signifies one thing—advertisers should seriously consider shifting from TV ads to social media live streams.

The Missing Block in the Oil & Gas Industry

The oil and gas (O&G) industry has traditionally been one where innovations and developments are more focused on drilling and exploration, whereas office functions remain stagnant. The industry still relies on third-party supervision and paper-based contracting for joint operating agreements, lease agreements, and production sharing contracts exchanging trillions of dollars in revenue and expenses—with single deals and contracts pegged as high as US$ 130 Million.

Lenovo's ThinkSystem Product Launch: A Game-Changer in the Data Center Domain?

On June 20, 2017, Lenovo launched the most comprehensive portfolio in its history—encompassing servers, storage, networking, software and data center services. The launch took place at Lenovo's Transform conference in New York and is expected to make Lenovo a formidable player in the data center domain. The launch, the first of its kind, introduced 14 new servers, seven storage devices and five new networking fabric products.

Innovations in Healthcare by Major Technology Players

The healthcare industry is gaining increasing attention from major technology companies like Alphabet, Apple and IBM. By leveraging their expertise in domains like artificial intelligence and machine learning, they help pharma and medical device companies analyze big data generated in the healthcare value chain. This includes data collected from clinical trials, electronic health records (EHR), wearables and other sources. Companies can then use the analysis to understand patient behavior, reduce inefficiencies, improve current products and lifecycles, and develop more innovative products.

Impact of GST on the Logistics Industry

The Government of India rolled-out the much-anticipated Goods and Services Tax (GST) on the first of July, 2017. The “One Nation – One Tax” philosophy was conceived to streamline and ease the tax credit system. With a focus on eliminating the chaotic discrepancies in the taxation structure caused by the application of miscellaneous value-added taxes (VAT), GST seeks to introduce a common levy with the purpose of simplifying tax administration in the country. The implementation of GST is expected to benefit the logistics, fast-moving consumer goods (FMCG) and cement sectors.

After Relentless Cyber-Attacks on Businesses, The Cyber-Insurance Market Booms

With cyber-attacks becoming the norm these days, even threatening to expand into a global epidemic, cyber-risk insurers across the globe are seeing organizations and end users scramble for protection from possible data and information security disasters. While reported global incidences of cyber security breaches have been steadily rising at a year-on-year rate of 30-40% since 2015, cyber insurance companies have struck gold. Per experts, the annual global cyber-insurance premium spend stands at $2-3 billion in 2017 and is poised to touch $14 billion by 2022.

The Rise in Mergers & Acquisitions in Benefits Outsourcing

Today, acquisitions have become a key strategy adopted by corporations to increase market share, boost revenue and reduce overhead costs. Mergers and acquisitions are not only restricted to mainstream industries such as pharmaceutical, food/beverage, and crop sciences, but also in indirect spend segments such as HR, IT and Marketing. For example, Google has acquired more than 200 companies since the start of the millennium. The HR benefits outsourcing industry has also jumped on the bandwagon with acquisitions such as Ascender acquiring NGA’s Australia and New Zealand business.

Industry 4.0 and the Rise of IoT

We are in the midst of the Industry 4.0 revolution, which encompasses many technologies and business designs – including the Internet of Things (IoT) and digital business. IoT and Industry 4.0 together are set to create trillions in value. Its goal is to create value from the insights generated through assets connected across the product lifecycle, manufacturing and supply chain.

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