The Internet of Things (IoT) is one of the world’s largest application markets for Global Navigation Satellite Systems (GNSS). The European satellite navigation system Galileo, which will reach global coverage by 2020, will play an important role in this emerging market. Real-time geolocation and timing information are crucial for IoT applications to connect physical objects to the network and improve the lifecycle in a sustainable, efficient way. With the Galileo Commercial Service (CS), IoT users will benefit from a high-accuracy service of less than one decimetre worldwide, allowing for increased robustness of professional applications.
By 2020, 8 billion navigation devices around the world will benefit from this unique service, which differentiates itself from other GNSS systems. Depending on the definition of IoT, the overall market is expected to generate up to EUR 7 trillion in revenue in 2020. “Manufacturing and Supply Chain” and “Smart Cities” are still set to be the most sizable markets with revenue of EUR 2.5 trillion and EUR 1.3 trillion in 2020, whereby “Healthcare” will be the market with the highest growth rate. Located at the crossroads of 4 global industries in information technology, telecommunications, automotive and microelectronics, an innovation boom in applications and new products using satellite navigation in IoT will be key to future development.
The “Galileo 5G IoT Challenge” aims to identify innovative applications, services and business cases for the 5G IoT market based on the Galileo satellite system. The challenge mainly targets start-up teams from all over the world as well as innovative companies wanting to enter the Galileo application market. In order to identify disruptive innovations at an early stage and speed up the implementation of emerging IoT business cases, the challenge calls for inspiring submissions in the following categories: Buildings, Energy, Consumer & Home, Healthcare & Life Science, Industrial, Transportation, Retail, Security & Public Safety, IT & Networks.
Further prizes coming soon….
The proposed submission will be carefully assessed as to its innovation and market potential as well as its success with regard to the Galileo application market.
The ranking will be conducted based on the maturity of the application, its commercial benefits and added value in comparison to current solutions.
AZO has established a global network for innovation and entrepreneurship.
AZO supports product innovation and company foundations in the field of commercial space applications along the entire value chain – from the idea all the way to market entry. The company has extensive experience in organising innovation competitions such as the European Satellite Navigation Competition, the Copernicus Masters (Earth observation), the StartupWorld Awards (laser photonics and robotics), as well as the INNOspace Masters (New Space Economy), app developer camps and conferences, and manages ESA BIC Bavaria.
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Ines Kühnert
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team@galileo-masters.eu
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