Orcoda’s Intelligent Transportation Management Systems (ITMS) will collaborate with smart devices and infrastructure to aggregate and optimize transportation logistics.
— Geoff Jamieson, Managing Director of Orcoda
MELBOURNE, VIC, AUSTRALIA, December 14, 2022 /EINPresswire.com/ — Highlights:
– Orcoda’s Intelligent Transport Management Systems (ITMS) (ODA) will work with smart devices and infrastructure to aggregate and optimize transport logistics
– The smart city industry is expected to grow by 150 percent to more than $1 trillion by 2030
– Orcoda’s acquisition of The Betta Group allows it to provide infrastructure and smart technology to upgrade transport networks
– The installation and electrification of smart technology for transport corridors led to a 59 percent increase in sales for Orcoda in Q1 FY23
– ITMS solutions will be used to manage traffic flows to reduce congestion, which will help reduce carbon emissions
Technology is getting better, cheaper and more efficient – and governments and urban planners around the world are trying to improve our cities by turning them into ‘Smart Cities’ that will help decarbonize our energy use for good with a more sustainable future.
A comprehensive urbanization study carried out by the United Nations in 2018 set out that the world would be 68 percent urbanized by 2050 — that’s 2.5 billion additional people who will live in cities in just over three decades.
Those 2.5 billion people will need us to use our carbon-emitting transport networks, whether by road, rail or air, and it’s our smart cities that will enable more efficient and less polluting urban networks to create.
Smart cities are already being implemented, evolving our traditional networks and services to reduce our carbon footprint using cutting-edge digital solutions, including 5G technologies.
These technologies provide upgrades to water supply and waste disposal facilities, create more efficient ways to light and heat buildings, and fully integrate transportation, communication, and energy infrastructure processes.
To be considered ‘smart’ cities require three core components: connectivity, data analytics and electrification.
Connectivity refers to infrastructure that supports data communication between devices, platforms and network systems, while data analytics uses artificial intelligence to examine large data sets to identify trends and patterns to aid optimization.
While these first two components are important in their own right, electrification will play a key role in decarbonising energy consumption across sectors such as heating, cooling and transport.
Electrification is the conduit that enables our modern functionality to connect where people travel and where they live, in a fully electrified, digitized and energy-efficient network.
Traditional infrastructure such as road signs and traffic lights will be replaced by Intelligent Transport Management Systems (ITMS) that will work with smart devices and upgraded transport management platforms.
ITMS will be used to manage traffic flows to reduce congestion, which will help reduce carbon emissions from idle vehicles — making electrification critical to helping transition our world to a more sustainable future.
One such early mover in this space in Australia is ASX-listed Orcoda (ODA), which provides transport logistics software and transport services to help businesses streamline supply chains and become more efficient.
The technology company’s cloud-based software platforms enable businesses to generate next-generation logistics information about the movement of people, parcels and goods to optimize transportation efficiencies — an integral part of a smart city transportation ecosystem.
In November 2020, Orcoda moved to grow its business into a vertically integrated electrification solutions company by purchasing transport infrastructure services provider, The Betta Group, giving it the necessary assets to win infrastructure contracts and software expertise and implementing Orcoda management in projects.
Geoff Jamieson, Managing Director of Orcoda, said The Betta Group’s smart device installation and electrification capabilities had already made Orcoda stand out as a one-stop shop for implementing ITMS solutions in Australia.
“Our transport infrastructure services (through The Betta Group) deliver optimized electrification solutions primarily in major road, rail and air infrastructure projects and are a key part of achieving our smart city vision — a complete ecosystem of interconnected technology that provides big data for driving. continuous optimization,” said Mr Jamieson.
He said demand was currently coming from the electrification of its smart technology related to fiber optic networks and smart devices in transportation corridors, along with traditional revenue streams such as the company’s cloud-based optimization platforms.
“The installation and electrification of smart technology for transport corridors makes Orcoda unique in the market, and electrification [already] customer receipts for the first quarter of FY23 increased by 59 percent.
“Electrification is a key part of smarter cities and smarter highways that will help us move towards a more sustainable future.”
According to a recent report by the OECD Smart Cities and Inclusive Growth, countries such as Korea and many in Europe and South East Asia have long focused on connecting smart city services, with governments placing a strong emphasis on smart city ecosystems to create.
Driven by the global shift towards sustainable solutions and currently estimated to be worth more than 1 trillion worldwide, the smart city industry is expected to have an annual growth rate of 24.2 percent up to 2030.
Can Orcoda help electrify Australia’s move towards its own smart city goals?
Author: Cameron Drummond, Advisir and The Market Herald – original article: https://themarketherald.com.au/orcoda_oda_ready_to_-electrify_smart_city_transportation-2022-12-12/
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