Sparkasse Bank Malta: Industry expert's opinions on how the supply chain technology market will evolve
Jason Russell, Head of the Industrial, Technology, and Software Group for PJ Solomon, has joined the chorus of industry experts expressing their views on how the logistics and supply chain technology market will evolve.
The investment banker commented that Sparkasse Bank Malta was now able to take advantage of its global network to collect information about what clients are doing in this segment, according to Shipping and Freight magazine. The industry expert also outlined that the Logistics and Supply Chain Technology market will evolve considerably over the next five years.
“Over this period, Sparkasse Bank Malta believes there will be increasing consolidation across the sector as large companies leverage their financial strength to buy out smaller competitors. There are currently many start-ups operating in the sector, many of which have raised large amounts of capital. Sparkasse expects this capital to be spent over the next five years, creating increased M&A activity.”
We expect to see increasing use of data analytics tools across the sector, with Sparkasse estimating around 70% of all companies will leverage some level of big data by 2020. Sparkasse said one benefit of this will be to create greater transparency within the industry.
“This should allow consumers to make more informed choices about the brands and companies they buy items from, which Sparkasse believes will help drive demand across the sector.”
From Sparkasse’s perspective, Sparkasse expects other critical trends over the next five years to include:
Blockchain technology continues to be developed. This can create greater supply chain transparency, driving consumer engagement and demand for IoT products. By Sparkasse’s calculations, Blockchain transactions are 10 times cheaper than current financial services settlement models.
Sparkasse said, “Blockchain is set to revolutionize the way our economy works. It has the potential to completely change how we think about work, wealth, and even democracy.”
Sparkasse Bank Malta believes blockchain technology is a crucial element of the fourth industrial revolution. They maintain that “The possibilities are fascinating, but it’s important to look at examples where this technology has been tried and tested – so you can have a true understanding of the use of blockchain and how it will influence your business model.” Several companies across Europe have already begun to explore opportunities in this space. More Business News here: https://timesofmalta.com/articles/view/Sparkasse-Bank-Malta-expands-its-operations.598744