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US Ride-Sharing Revenue Projected To Bounce Back in 2021 By 23% – $1.9B; Projected To Reach $3B By 2025

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Ride sharing - Investors King

The ride-sharing industry was one of the newest and fastest-growing industries in the world until the Coronavirus pandemic took hold in 2020. A year after the pandemic, the industry is starting to bounce back and looks poised to reclaim the momentum that it had lost.

According to data presented by TradingPlatforms, the ride-sharing industry in the US is projected to generate $1.9B in 2021, a 23% YoY increase from 2020.

Ride-Sharing Impacted By COVID-19 Pandemic in 2020; Recovery Expected in 2021

The global ride-sharing industry was badly hit as lockdowns were imposed all over the world, effectively halting global mobility. The US is the world’s largest ride-sharing market, generating almost $2B in 2019 but experienced a significant contraction in 2020. As a result of the pandemic, the US ride-sharing industry only generated $1.54B in 2020 – a 21% YoY decrease.

As of May 2021, the situation has improved in several areas in the US, albeit not to pre-pandemic levels yet. In 2021, the ride-sharing market in the US is projected to generate $1.9B in 2021 – a 23% YoY increase from 2020’s pandemic stricken revenue numbers.

Forecast For Ride-Sharing Industry Still Bright Despite 2020’s Pandemic Ravaged Year

The ride-sharing market is expected to pass 2019’s pre-pandemic revenue numbers by 2022 when it is expected to cross the 2B mark for the first time. Projections also have the US ride-sharing market generating at least $3B by 2025 on an impressive Compound Annual Growth Rate (CAGR) of 13.55% from 2021-2025.

The global ride-sharing market experienced a similar YoY revenue decrease to the US market as a result of the pandemic. In 2021 the global ride-sharing market is expected to bounce back by more than 27% and generate $9.37B. The industry is expected to surpass pre-pandemic levels and the $10B mark by 2022 when it is projected to generate $12.39B.

Globally, the ride-sharing market is projected to grow at a robust CAGR of 12.42% from 2021-2025, resulting in a projected market volume of just under $15B by 2025.

Rex Pascual, Editor at TradingPlatforms commented; “Despite the outlier that was 2020, the future of the ride-sharing industry still remains promising. While the pandemic situation still remains fluid in many parts of the world, there is strong confidence in the industry’s ability to pick up right where it left off once the global situation fully stabilizes.”

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

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Telecommunications

Nokia Launches Next-generation AirScale 5G Portfolio Powered by ReefShark Technology

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Nokia - Investors King

Nokia today announced the global launch of its latest range of industry-leading AirScale 5G products covering baseband, remote radio heads, and massive MIMO active antennas with digital beamforming. The innovative solutions are powered by the latest generation of Nokia’s ReefShark System-on-Chip (SoC) chipsets and deliver the highest capacity and network performance while enabling efficient deployments and operation. The rollout of the new products is already underway.

Nokia introduces its new generation of ReefShark-powered AirScale massive MIMO antennas with both 32TRX and 64TRX products, as well as 8T8R remote radio head solutions. The 32TRX is the industry’s lightest, at 17kg, simplifying and speeding up site deployments. Notably, this low weight is achieved at the same time as supporting high radio frequency bandwidth (200 MHz occupied bandwidth and 400 MHz instantaneous bandwidth) and delivering high radio frequency power output, without compromise. Both the new 32TRX and the new 64TRX massive MIMO antennas support both fragmented spectrum and network sharing cases.

Nokia also introduces its new SoC-based baseband plug-in cards to boost the capacity of the AirScale System Module. The new ReefShark-powered plug-in cards deliver up to eight times more throughput and serve up to eight times more cells compared to previous generations. They are easily installed and simplify the upgrade and extended operation of all AirScale deployments. Nokia’s baseband module can support 90,000 connected users simultaneously and has 84 Gbps throughput. The highly efficient ReefShark powered plug-in cards also reduce power consumption by up to 75 percent. Nokia’s modular AirScale baseband enables mobile operators to scale capacity flexibly and efficiently and as their 5G business evolves.

Nokia Single RAN software now includes 5G, accelerating 5G rollouts and cutting overall radio access network TCO (Total Cost of Ownership), by unlocking network efficiencies with common transport, common operability, common software delivery, and increased hardware sharing. The combination of Nokia’s Single RAN software and the new baseband plug-in cards offer multi-mode (2G, 3G, 4G, 5G) and multi-band and supports the latest fronthaul interfaces (eCPRI) on a single baseband platform, simplifying the network and lowering costs.

Nokia’s AirScale baseband architecture is designed to be future-proof and support the increasing demands for wireless traffic. By keeping the L1 and L2 (Layer 1 and Layer 2) computing separate from L3 (Layer 3) and Transport baseband plug-in units, capacity can be added when and where it is needed in the network. Network modernization can be simply achieved either by software upgrade or by adding new plug-in units into the existing baseband.

Nokia’s ReefShark chipsets will also play a critical role in future Artificial Intelligence (AI) and Machine Learning (ML) capabilities. Nokia has already introduced AI/ML features in areas such as predictive load balancing, anomaly detection, and intelligent traffic steering. All Nokia ReefShark platforms are AI/ML ready and Nokia is carrying out proof of concepts with customers this year in innovative areas such as Massive MIMO beam pattern optimization, energy-saving, advanced traffic steering, advanced packet scheduling, and alarm pattern discovery.

Patrick Filkins, Senior Research Analyst, IoT and Mobile Network Infrastructure, IDC, commented: “5G networks are absolutely critical for improving network capacity and performance, particularly when higher bandwidth is in demand. Nokia’s new portfolio addresses these concerns by enabling mobile operators to flexibly scale capacity while helping to smoothly transition to 5G from existing technologies easily and cost-effectively. The integration of Nokia’s ReefShark SoCs across both radio and baseband boosts performance and capacity and the new massive MIMO antennas set a new benchmark for low weight without compromising on performance. These solutions will help mobile operators to address the increasingly dynamic mobile services space that urgently requires more capacity.”

Tommi Uitto, President of Mobile Networks, Nokia, said: “Our new generation of ReefShark-powered AirScale radio and baseband products is evidence of the successful transformation of our business and ability to deliver market-leading products to our global customers. Nokia’s new portfolio enables communication service providers to offer both consumer and enterprise customers with cutting-edge 5G experiences with premium speeds, capacity, and connectivity underpinned by seamless, simple, and efficient ‘plug-in’ deployment. Our new AirScale products are O-RAN ready. They consume less energy and highlight our commitment to climate change. We’re excited to see our customers deploying these products and see the transformative impact of 5G technology.”

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Fintech

Visa To Acquire Swedish Open Banking Firm Tink For €1.8B

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Visa Inc

Card giant firm, Visa is set to acquire Tink, the Swedish open banking platform, in a deal worth €1.8 billion (roughly $2.15 billion).

The news comes less than six months after the termination of Visa’s planned $5.3 billion acquisition of Plaid, the San Francisco-based fintech firm – a deal that had encountered significant opposition from the U.S. Department of Justice.

Like Plaid, Tink’s platform allows customers to connect with more than 3,400 banks and financial institutions to access aggregated financial data, helping them to build innovative personal finance tools.

“Visa is committed to doing all we can to foster innovation and empower consumers in support of Europe’s open banking goals,” said Al Kelly, CEO and chairman of Visa. “By bringing together Visa’s network of networks and Tink’s open banking capabilities we will deliver increased value to European consumers and businesses with tools to make their financial lives more simple, reliable and secure.”

As part of the Visa deal, Tink will retain its brand and current management team, as well as its headquarters in Stockholm, Sweden.

Tink last raised money in December 2020, when it secured €85 million (roughly $101.5 million) in a round led by Dawn Capital and Eurazeo Growth.

The €1.8 billion transactions, which includes cash and retention incentives, are subject to approval from regulators. Visa will fund the transaction in cash.

Tink’s business model is in part enabled by the EU’s Revised Payment Services Directive (PSD2), which was put into effect in January 2018. The legislation requires banks to give third parties access to the customer data they store, with the aim of driving competition and innovation in financial services.

But the PSD2 framework also paved the way for new payment functionality that allows consumers to make payments directly from their bank accounts without having to rely on intermediaries, like card networks.

In recent months, account-to-account payments have garnered a lot of attention from crypto startups, which see it as a potentially cheaper and easier method of funding wallets.

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Telecommunications

Global Credit Ratings (GCR) Assigned MTN Nigeria Highest Possible Credit Ratings

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Karl O Toriola - Investorsking.com

MTN Nigeria Communications Plc has been assigned the highest credit ratings of AAA by Global Credit Ratings (GCR).

GCR affirmed MTN Nigeria’s national scale short-term rating of A1+, with a stable outlook.

Also, GCR upgraded the national scale long-term rating of the recently concluded N110 billion Series 1 Senior Unsecured Bond to AAA with a stable outlook.

These represent the highest possible long-term and short-term ratings on GCR’s national rating scale, and MTN Nigeria is the first mobile network operator in Africa to be accorded such ratings by GCR.

According to GCR, “the ratings accorded to MTN Nigeria reflect its very strong competitive position as the leading provider of telecommunications services in Nigeria, as well as its strong earnings and cash flow which has supported a robust financial profile.”

Commenting on the rating, Karl Toriola, Chief Executive Officer, MTN Nigeria, said, “We are delighted with the outcome of the GCR rating. This demonstrates the resilience of our business and positions MTN Nigeria as the benchmark of reference for the information and communications technology sector for long-dated, fixed-term instruments. As we continue to invest in our network and strengthen our risk management processes, we remain focused on sustaining and accelerating growth in line with our Ambition 2025 strategy“.

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