#Automotive Artificial Intelligence Market 2022

[neha24blog]

Automotive Artificial Intelligence Market Segmented On The Basis Of Component, Level Of Autonomy, Technology, Vehicle Type, Region And Forecast To 2030: Grand View Research Inc.

San Francisco, 1 Feb 2023: The Report Automotive Artificial Intelligence Market Size, Share & Trends Analysis Report By Component, By Level Of Autonomy (Level 1, Level 2, Level 3, Level 4), By Technology, By Vehicle Type, By Region, And Segment Forecasts, 2022 – 2030 The global automotive artificial intelligence market size is expected to reach USD 14.23 billion by 2030, advancing at 21.6% CAGR,…

[chandupalle]

The global automotive artificial intelligence market size is valued at USD 2.3 Billion in 2022 and is anticipated to be USD 7.0 Billion by 2027; growing at a CAGR of 24.1% from 2022 to 2027.

[misshockman]

🎀(*^-^)／＼(*^-^*)／＼(^-^*)🎀(*^-^)=EF=BC=8F=EF=BC=BC(*^-^*)=EF=BC=8F=EF=BC=BC(^-^*)Kendra (Holstein-Romanov) Hockman

🌟 X Research Scientist @ SpaceX | SpellbookAI | Elon Musk Consulting | HPC-AI | IxDA | CTE Advisor 🌟

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📞 P: +1.360.560.6127 | 📧 E: misshockman@gmail.com

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✨ Business Development Specialist, Agile Project Manager, and Event Producer with +12 years of marketing experience and a passion for providing white glove customer service. ✨

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Creative UX.design @ SPACEX

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Manage Client Relations

Nurtured and secured $2 Million in sales within the first 60 days

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Virtual Producer (Project Management) @ NVIDIA

2022 - ₩ | Santa Clara, CA (remote)

Produced an educational AI conference for researchers, developers, inventors, & IT professionals (+300k attendees, +800 sessions)

Coordinated keynote sessions with experts from NVIDIA, Meta, Mastercard, Uber, Google, Amazon, Stanford, etc.

Recorded via our virtual studio, completed post-production editing (cc), and broadcasted with live Q&A featuring ChatGPT

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Career and Technical Education (CTE) Leadership Committee Member for Public School District

Skilled In: Kaltura, Rainfocus, StreamYard, Frame.io, Office 365 (Excel/PP), Google Workspaces, & more

Project Manager (Business Development) @ SAMSUNG

2022 - ¤¤¤ | San Jose, CA (remote)

Community Liaison for SAMSUNG. Secure & maintain business partnerships

Support students, entrepreneurs, animal rescue groups, environmental protection groups, etc.

Career and Technical Education (CTE) Leadership Committee Member for Public School District

Highest Performing Market out of 36: Washington stores averaged 165% to sales plan

National Account Manager (Event Production) @ More Than Models

2020 – 2022 | Los Angeles, CA (remote)

Provided support and managed deliverables for clients such as Ferrari, Louis Vuitton, Wells Fargo, AT&T, Amazon, etc.

Shows Managed include AT&T Pebble Beach Pro-Am 2022, SuperBowl 2022, NBA All Star 2022, and more

Interviewed, input, and trained over 1,000 new talent candidates

Primary client contact and emergency contact for all shows

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Spokesmodel / Product Specialist / Emcee / Tour Manager

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Consumer educator and product demonstrator specializing in Automotive & Technology

Trained and managed teams of up to 240 for events with over 300,000 attendees

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Presenter with Stellantis on the International Auto Show Circuit for 3 years

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Practice had a +3000% case increase, with a 45% conversion increase

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Intel - Intel’s Tech Learning Lab Tour - Portland - 2018 - Team Lead

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KIA - Portland Trailblazers - Portland - 2013-2016 - Emcee

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VIP Press Event at Vespertine - 2021

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Rockstar Energy - Super Bowl 2022

British Government - Premier League Event 2022

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Warner Bros. - The Conjuring 3 Premiere Event 2021

AT&T - HBCU Spotlight 2022, NBA All Star 2022, AT&T Loft at Pebble Beach Pro-Am 2022, NBA/NHL Team Entitlement Nights, AT&T Hoop Hustle

ESL One - Los Angeles 2020

Target - Target Halloween Slime Lab 2021, MLS All-Star Target Event 2021, Harry Potter Big Screen Drive-In Series 2021

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[mariacallous]

Elon Musk is a man comfortable with risky bets. He pledged to send 1 million people to Mars (SpaceX), to fill factories with humanoid workers (Tesla Bot), and to create a network of highways deep underground (the Boring Company). All of these bets are yet to pay off. But six years ago, Musk took a leap of faith that would also affect him personally. He tied his own pay at Tesla to a series of financial targets over the next decade, including boosting the company’s market value from $59 billion to $650 billion. Such targets were decried by commentators at the time as “jaw-dropping” and “his most unlikely goal yet.” And Musk’s wage from the company if he didn’t pull them off? Nothing at all.

The board agreed to the plan in 2018. However, a heavy-metal drummer named Richard Tornetta, who owned just nine Tesla shares, did not. In June of that year, he decided to sue, claiming the pay package was unfair to investors like him. By the time the case reached court in Delaware in 2022, Musk had just one milestone left before the big payout. But the judge agreed with Tornetta in January, voiding what she called an unfathomably large pay package and describing the directors who negotiated it as beholden to Musk.

Musk succeeded in hitting those 12 jaw-dropping targets by the close of 2023, following Tesla’s brief spell as a trillion-dollar company. And now, despite what happened in Delaware, he’s demanding to be paid. At Tesla’s annual meeting on Thursday, shareholders are being asked to vote again on whether Musk should receive what has by now swollen to a nearly $50 billion pay package, the biggest in US corporate history. The $50 billion question for shareholders is: Is Musk worth it?

Posing the question of whether he deserves his pay packet at all marks a significant shift for the relationship between Musk and the electric automaker he has led since 2008. “The resistance shows that there is a ceiling to the influence that a single person has on the company,” says Mike Ramsey, an automotive analyst at the consultancy Gartner. “This is the the first time Tesla shareholders might be willing to say, ‘You can’t have unlimited power.’”

The vote comes at a difficult time for Tesla. For the first time in the company’s history, Tesla is facing intense competition in the electric car market—especially from cheaper Chinese competitors. Meanwhile, some observers have puzzled over Musk’s response and his pivot to robotaxis and artificial intelligence.

“The debate here really is about the future, not the past,” says John Colley, professor of practice in strategy and leadership at the UK’s Warwick Business School. “Tesla has become a mature business, and it’s got all the problems that mature carmakers have now.” Whether a visionary like Musk is the best man to lead a mature business is unclear, he adds.

The pay package is just one in a series of measures that shareholders have already been asked to vote on by proxy, ahead of Thursday’s meeting. Others include whether Tesla’s incorporation should move from Delaware to Texas, whether the company should soften its hardline stance on labor negotiations, and whether the company should preemptively impose a moratorium on using minerals mined from the seabed.

Yet none have been as divisive as Musk’s pay. Deep rifts among investors have been exposed in the lead-up to the vote. Tesla board chair Robyn Denholm has backed the pay package, as has billionaire investor Ron Baron. “Tesla is better with Elon,” Baron wrote in an open letter last week. “Tesla is Elon.” Yet the deal’s opponents include two influential proxy advisory groups, which guide institutional investors on votes, as well as shareholders from the Nordic countries, where Tesla has clashed with workers over labor rights.

Norway’s trillion-dollar sovereign wealth fund has said it will vote against the pay deal, as will the country’s largest pension fund, KLP. “While we acknowledge that the company has grown significantly and successfully during the performance period, we still note that the total award value remains excessive,” Kiran Aziz, KLP's head of responsible investments, told WIRED, adding the fund will vote in favor of the motion urging Tesla to engage in labor negotiations. “Recent [dispute] between Tesla and the company’s workers in Sweden as well as Tesla’s history of accusations of interference with workers’ rights is of great concern and shows that the company needs to do better work in the area.”

Behind the scenes of the vote, lobbying has been intense. Tesla has paid for ads on Google and X, which is owned by Musk, telling investors to “protect your investment” and support the proposal, according to a company filing with the Securities and Exchange Commission. In April, Tesla also launched a website urging shareholders to vote against the Delaware court decision and support the pay package. “The Court’s decision, if implemented, means that Elon would not receive any compensation for the tremendous accomplishments that have generated significant stockholder returns in less than six years,” the website reads.

“This is the most advertising I can remember from any proxy solicitation,” says Robert Anderson, a professor at the University of Arkansas School of Law. He believes the Musk effect—the CEO’s ability to attract endless publicity—has contributed to this situation. But the pay package and the proposed Texas move are both unprecedented in the business world, he adds. “Either [of] those things by themselves would be pretty significant, even if he were not a public figure.”

The vote will be decided by a mix of institutional investors as well as an unusually large cohort of retail investors, who control around 44 percent of the business. Among shareholders, there are concerns that if Musk does not win his compensation, “his attention might drift to some of his other ventures a little bit more,” says Anderson. Musk managed to juggle multiple ventures for years, but he has been more publicly distracted since acquiring the social media service Twitter and renaming it X. There, his visible turn to right-wing politics has garnered new fans and left some old ones behind.

Whatever happens this week, Tesla and Musk may emerge looking a bit less superhuman. For years, the two have insisted that Tesla is a tech company, with a Silicon Valley–style startup scrappiness. “We should be thought of as an AI or robotics company,” Musk told investors—or voters—in April. “If you value Tesla as just an auto company … fundamentally, it’s just the wrong framework.”

[techscopetechnologiesltd]

Revolutionizing Manufacturing: Top Trends to Watch in 2023

The manufacturing industry faced several challenges in 2022, including disruptions in the supply chain, transportation difficulties, worker shortages, and inflation. As a manufacturing company, it is essential to stay informed about the emerging industrial developments to prevent the issues that plagued the industry last year.

However, one thing we can tell you for sure is, having the right technology in place can bring you closer to gaining a competitive edge and adapting to the changing industry dynamics. To help manufacturing businesses gain this edge, we offer next generation SAP ERP solution.

What are some technological trends the manufacturing industry can expect in 2023?

Industry 4.0 and Digital Transformation

Industry 4.0 and digital transformation will continue to be major drivers of innovation in the manufacturing industry in 2023. With the rise of the Internet of Things (IoT), Artificial Intelligence (AI), and other advanced technologies, manufacturers will have unprecedented access to real-time data, which will enable them to optimize their operations and improve efficiency. By integrating digital technologies across the entire supply chain, manufacturers will be able to achieve greater flexibility, agility, and responsiveness to changing market demands.

Advanced Robotics and Automation

As the cost of robotics and automation technology continues to decrease, we can expect to see an increased adoption of these technologies in the manufacturing industry. Robotics and automation can help manufacturers reduce labor costs, improve quality and consistency, and increase productivity. With the advent of more advanced robotics and automation systems, we can expect to see greater levels of collaboration between human workers and robots, as well as the development of more complex and sophisticated automation systems.

Sustainability and Green Manufacturing

As the world becomes increasingly aware of the impact of climate change, sustainability and green manufacturing will become more important in 2023. Manufacturers will need to find ways to reduce their environmental impact, including the use of renewable energy sources, the reduction of waste and emissions, and the adoption of sustainable materials and processes. Customers are also becoming more conscious of their environmental impact, which means that manufacturers who prioritize sustainability will be more competitive in the marketplace.

Additive Manufacturing

Additive manufacturing, also known as 3D printing, is a rapidly growing technology that is changing the way manufacturers design, prototype, and produce products. In 2023, we can expect to see an increased adoption of additive manufacturing technologies, particularly in industries such as aerospace, healthcare, and automotive. With the ability to produce highly complex parts and components on-demand, additive manufacturing will enable manufacturers to achieve greater levels of customization and flexibility.

Reshoring and Nearshoring

The COVID-19 pandemic has highlighted the risks of global supply chains and the importance of resilience and agility in manufacturing. In 2023, we can expect to see more manufacturers exploring reshoring and nearshoring strategies to reduce their reliance on overseas suppliers and improve their ability to respond to changing market conditions. By bringing production closer to home, manufacturers can reduce lead times, improve quality control, and reduce transportation costs.

In conclusion, the manufacturing industry is set to undergo significant changes in 2023, driven by digital transformation, advanced robotics and automation, sustainability, additive manufacturing, and reshoring and nearshoring. Manufacturers who stay ahead of these trends will be better equipped to compete in an increasingly complex and competitive global marketplace.

If you want to transform your business by implementing latest solutions, get in touch with the team of Techscope Technologies.

Source: https://techscope.co.in/revolutionizing-manufacturing-top-trends-to-watch-in-2023/

[jayanthitbrc]

Global Connector Market Analysis 2024: Size Forecast and Growth Prospects

The connector global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.

Connector Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.

Market Size - The connector market size has grown strongly in recent years. It will grow from $79.10 billion in 2023 to $86.07 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The growth in the historic period can be attributed to rapid expansion of telecommunications, computing revolution, emergence of high-speed data transmission, automotive electronics integration and consumer electronics boom.

The connector market size is expected to see strong growth in the next few years. It will grow to $110.76 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to 5G technology deployment, electric vehicles (EVs) and charging infrastructure, internet of things (IoT) expansion, edge computing and artificial intelligence (ai) and machine learning (ml) integration. Major trends in the forecast period include miniaturization and high-density connectors, high-speed data transmission, rise of industry 4.0 and IoT, increased focus on reliability and durability, and advancements in materials and sustainability.

Order your report now for swift delivery @ https://www.thebusinessresearchcompany.com/report/connector-global-market-report

Scope Of Connector Market The Business Research Company's reports encompass a wide range of information, including:

1. Market Size (Historic and Forecast): Analysis of the market's historical performance and projections for future growth.

2. Drivers: Examination of the key factors propelling market growth.

3. Trends: Identification of emerging trends and patterns shaping the market landscape.

4. Key Segments: Breakdown of the market into its primary segments and their respective performance.

5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.

6. Macro Economic Factors: Assessment of broader economic elements impacting the market.

Connector Market Overview

Market Drivers - The growing automotive industry is expected to propel the growth of the connector market going forward. The automotive industry refers to the design, development, manufacturing, marketing, selling, repairing, and modification of motor vehicles, including passenger automobiles, light trucks, and commercial vehicles. Connectors are used in the electrical systems of vehicles to enable the transmission of power and signals between different components, ensuring reliable and secure connections and contributing to the overall efficiency and safety of the vehicle's electrical system. For instance, in June 2023, according to reports shared by the Society of Motor Manufacturers and Traders (SMMT), a UK-based trade association, sales of passenger cars in the UK rose 25.8% from 140,958 units in 2022 to 177,266 units in 2023. Therefore, the growing automotive industry is driving the growth of the connector market.

Market Trends - Major companies operating in the connector market are focusing on developing innovative solutions with advanced technologies, such as high-voltage connector backshells, to gain a competitive edge in the market. High-voltage connector backshells are protective enclosures that attach to the rear of high-voltage connectors. For instance, in July 2023, ABB Ltd., a Switzerland-based automation company, launched the Harnessflex EVO Connector Interfaces for heavy-duty electric vehicles (EV). These connector interfaces increase cable-to-connector stability in high-voltage applications, protect critical wiring, and improve performance and reliability in high-voltage applications. The orange color of the Harnessflex EVO Connector Interfaces indicates high cable-to-connector strain relief with high mechanical performance and prevents debris intrusion.

The connector market covered in this report is segmented –

1) By Product: PCB Connectors, I Or O (Input Or Output) Connectors, Circular Connectors, Fiber Optic Connectors, RF Coaxial Connectors, Rectangular Connectors, Solar Connectors, Patchcord 2) By Material: Copper, Aluminum, Stainless Steel, Plastic, Other Materials 3) By End User: Consumer Electronics, Telecom, Automotive, Energy And Power, Aerospace And Defense, Other End Users

Get an inside scoop of the connector market, Request now for Sample Report @ https://www.thebusinessresearchcompany.com/sample.aspx?id=13826&type=smp

Regional Insights - Asia-Pacific was the largest region in the connector market in 2023. The regions covered in the connector market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Key Companies - Japan Aviation Electronics Industry, Ltd., Koch Industries Inc. (Molex LLC), 3M Company, Luxshare Precision Industry Co., Ltd., Prysmian Group, TE Connectivity Ltd., Yazaki Corporation, Amphenol Corporation (Amphenol RF), Nexans SA, Ametek Inc., Phoenix Contact, Molex LLC, Smiths Interconnect, ITT Inc., JAE Electronics Inc., Foxconn Interconnect Technology Limited (FIT), Hirose Electric Co. Ltd., Wurth Elektronik, AVX Corporation, Panduit, Harting Technology Group, Samtec Inc., Cinch Connectivity Solutions, Delphi Technologies, J.S.T. Mfg. Co. Ltd., Axon Cable S.A.S, CUI Global Inc.

Table of Contents 1. Executive Summary 2. Connector Market Report Structure 3. Connector Market Trends And Strategies 4. Connector Market – Macro Economic Scenario 5. Connector Market Size And Growth ….. 27. Connector Market Competitor Landscape And Company Profiles 28. Key Mergers And Acquisitions 29. Future Outlook and Potential Analysis 30. Appendix

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[shubhampawrainfinium]

Transforming Technology: The Role of Semiconductor Manufacturing Equipment

The global semiconductor manufacturing equipment market is set to witness steady growth over the forecast period, driven by the rapid advancement in digital technologies and increasing demand for semiconductors across various industries. According to the report, the market is projected to grow at a compound annual growth rate (CAGR) of approximately 8% from 2022 to 2028. In 2022, the global semiconductor manufacturing equipment market was valued at around USD 95 billion and is expected to reach nearly USD 150 billion by 2028.

What is Semiconductor Manufacturing Equipment?

Semiconductor manufacturing equipment includes machinery and tools essential for producing semiconductor devices, from wafer production to assembly and testing. These devices play a critical role in powering modern electronics, from smartphones and computers to advanced automotive and industrial equipment. The equipment required spans various stages of production, including lithography, etching, cleaning, and packaging.

Get Sample pages of Report: https://www.infiniumglobalresearch.com/reports/sample-request/42528

Market Dynamics and Growth Drivers

Key factors contributing to the growth of the global semiconductor manufacturing equipment market include:

High Demand for Consumer Electronics: The proliferation of smartphones, computers, and IoT devices has driven the demand for semiconductors, which in turn fuels the need for manufacturing equipment.

Technological Advancements in Semiconductors: Emerging technologies like 5G, artificial intelligence, autonomous vehicles, and cloud computing are increasing the demand for high-performance semiconductors, boosting the market for advanced manufacturing equipment.

Expansion of the Electric Vehicle Market: The growing electric vehicle (EV) market requires specialized semiconductor components, leading to increased investment in semiconductor manufacturing equipment tailored for automotive applications.

Rising Investments in Data Centers: Cloud computing and big data analytics are leading to the expansion of data centers globally. The semiconductor components necessary for these data centers are driving demand for sophisticated manufacturing equipment.

Regional Policies and Investments: Government support and initiatives to bolster domestic semiconductor production, especially in regions like North America, Europe, and Asia-Pacific, are contributing to market growth. Countries are increasingly prioritizing local semiconductor production, creating favorable conditions for equipment manufacturers.

Regional Analysis

Asia-Pacific: Asia-Pacific leads the global market for semiconductor manufacturing equipment, largely due to its significant share of semiconductor production. Countries like China, South Korea, Japan, and Taiwan are home to some of the world's largest semiconductor manufacturers, making the region a critical hub for this equipment.

North America: North America is another key market, bolstered by high investment in semiconductor technology and government initiatives aimed at boosting domestic semiconductor production. The U.S., in particular, is home to several semiconductor manufacturing giants, which rely on advanced equipment to maintain their competitive edge.

Europe: Europe’s semiconductor equipment market is growing, driven by an increasing focus on innovation and research in semiconductor technology. The region is also witnessing rising demand for automotive semiconductors due to its strong automotive industry.

Latin America, Middle East & Africa: Although smaller markets, these regions are witnessing gradual adoption as industries expand digital infrastructure, requiring semiconductors for various applications. This growth is supported by increasing demand for electronics, industrial automation, and digital connectivity.

Competitive Landscape

The semiconductor manufacturing equipment market is characterized by intense competition, with leading companies focusing on technological advancements, partnerships, and geographical expansion to maintain their market position. Key players include:

Applied Materials, Inc.: One of the largest companies in the sector, Applied Materials offers equipment for wafer fabrication and is a significant contributor to industry innovation.

ASML Holding NV: Known for its expertise in photolithography, ASML is a leader in providing equipment for producing advanced semiconductor chips, particularly through extreme ultraviolet (EUV) lithography technology.

Lam Research Corporation: This company is known for its etching and deposition solutions, critical for producing high-performance semiconductor devices.

Tokyo Electron Limited: A leading Japanese player, Tokyo Electron provides a range of semiconductor manufacturing equipment, including for coating, developing, and etching processes.

KLA Corporation: KLA specializes in process control and yield management solutions, offering equipment that helps ensure semiconductor quality and production efficiency.

Report Overview : https://www.infiniumglobalresearch.com/reports/global-semiconductor-manufacturing-equipment-market

Challenges and Opportunities

While the semiconductor manufacturing equipment market offers significant opportunities, it also faces certain challenges:

Supply Chain Disruptions: Global supply chain issues, such as the ongoing semiconductor shortage, could impact equipment availability and delay production timelines.

High Capital Investment Requirements: Semiconductor manufacturing equipment is capital-intensive, and smaller firms may face financial barriers to adopting advanced technologies.

Technological Complexity and R&D Costs: Constantly evolving technology requires substantial R&D investments to keep up with industry needs. However, innovations like EUV lithography, 3D stacking, and quantum computing present new growth avenues for the market.

Conclusion

The global semiconductor manufacturing equipment market is poised for steady growth, with a projected CAGR of 8% from 2022 to 2028. As digital transformation accelerates across various sectors, the demand for high-performance semiconductors continues to rise, driving the need for advanced manufacturing equipment. While challenges such as supply chain disruptions and capital intensity exist, the market's potential remains robust, fueled by technological advancements, industry expansion, and regional investments in semiconductor production. By 2028, the market is expected to reach nearly USD 150 billion, cementing its role as a cornerstone in the global technology landscape.

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Surgical Navigation Software Market

[latestmarketresearchnews]

Smart Factory Industry Overview, Competitive Landscape and Forecasts 2030

The global smart factory market was valued at USD 130.25 billion in 2022, with expectations to grow at a compound annual growth rate (CAGR) of 9.8% from 2023 to 2030. This expansion is driven by several key factors, including a heightened focus on energy efficiency, enhancements in manufacturing productivity, and the development of advanced manufacturing infrastructures worldwide. Emerging opportunities in collaborative robotics and advancements in 3D printing are also anticipated to contribute to the market's growth over the forecast period, offering new avenues for efficiency and innovation within the industry.

One of the most transformative technologies within smart factories is artificial intelligence (AI), coupled with machine learning (ML). These technologies enable predictive maintenance, quality assurance, and the optimization of manufacturing processes. AI-driven analytics can process large amounts of data to reveal insights that empower manufacturers to make data-driven decisions, improving operational efficiency. As AI and ML technology continues to advance, it is expected that these systems will become increasingly integrated into smart factory environments, further enhancing productivity and precision in manufacturing processes.

Gather more insights about the market drivers, restrains and growth of the Smart Factory Market

For example, in September 2022, Datametrex AI Ltd. launched a Smart Factory AI technology that leverages big data, artificial intelligence, and server automation. This technology provides manufacturers with data-driven operational insights and process automation, enhancing manufacturing accuracy and efficiency. Datametrex also received purchase orders worth CAD 200,000 from various multinational corporations such as Woongjin, Co. Ltd., Kolon Benit, and Lotte Data Communication Co., Ltd., demonstrating growing interest from prominent global players in these technologies.

The adoption of Industry 4.0 principles has also emerged as a significant trend within smart factories. Industry 4.0 promotes the integration of digital technologies including the Internet of Things (IoT), big data analytics, and automation into manufacturing. By embracing these technologies, smart factories can optimize production, improve product quality, and increase overall efficiency, enabling manufacturers to remain competitive in an increasingly globalized market. This trend is likely to persist as companies aim to streamline operations and enhance performance through digital transformation.

Application Segmentation Insights:

Within the smart factory market, the automotive sector held the largest market share, accounting for over 27% in 2022. The automotive industry has been quick to adopt smart factory solutions, driven by a surge in demand for customized vehicles, advanced safety features, and eco-friendly options. Smart factory solutions are integral to meeting these demands, as they enable automation, real-time data analytics, and monitoring key features for refining production processes, ensuring high-quality outputs, and adhering to strict industry regulations. The shift towards electric and autonomous vehicles is also driving automotive manufacturers to adopt more advanced, flexible, and efficient manufacturing processes. These smart factories help automotive companies increase productivity, reduce costs, and stay competitive within a fast-paced market characterized by technological advancements.

The food and beverages segment is projected to experience the fastest growth in the global smart factory market, with a CAGR of over 13% during the forecast period. This rapid expansion is fueled by increasing consumer demand for food safety and quality, along with stringent regulatory requirements. In response, food and beverage manufacturers are turning to smart factory solutions, incorporating automation, IoT sensors, and data analytics to ensure precise quality control, efficient production, and compliance with food safety standards.

Traceability and real-time monitoring have also become essential, as they help address food recalls and mitigate supply chain disruptions. Through these smart technologies, food and beverage manufacturers are able to enhance product consistency, minimize waste, and adapt swiftly to changing consumer demands. These improvements not only support quality and safety but also increase operational efficiency and responsiveness, driving robust growth within this segment.

Order a free sample PDF of the Smart Factory Market Intelligence Study, published by Grand View Research.

[researchreportinsight]

Smart Factory Market Sales, Demand, Regional Outlook And Supply Chain Analysis till 2030

The global smart factory market was valued at USD 130.25 billion in 2022, with expectations to grow at a compound annual growth rate (CAGR) of 9.8% from 2023 to 2030. This expansion is driven by several key factors, including a heightened focus on energy efficiency, enhancements in manufacturing productivity, and the development of advanced manufacturing infrastructures worldwide. Emerging opportunities in collaborative robotics and advancements in 3D printing are also anticipated to contribute to the market's growth over the forecast period, offering new avenues for efficiency and innovation within the industry.

One of the most transformative technologies within smart factories is artificial intelligence (AI), coupled with machine learning (ML). These technologies enable predictive maintenance, quality assurance, and the optimization of manufacturing processes. AI-driven analytics can process large amounts of data to reveal insights that empower manufacturers to make data-driven decisions, improving operational efficiency. As AI and ML technology continues to advance, it is expected that these systems will become increasingly integrated into smart factory environments, further enhancing productivity and precision in manufacturing processes.

Gather more insights about the market drivers, restrains and growth of the Smart Factory Market

For example, in September 2022, Datametrex AI Ltd. launched a Smart Factory AI technology that leverages big data, artificial intelligence, and server automation. This technology provides manufacturers with data-driven operational insights and process automation, enhancing manufacturing accuracy and efficiency. Datametrex also received purchase orders worth CAD 200,000 from various multinational corporations such as Woongjin, Co. Ltd., Kolon Benit, and Lotte Data Communication Co., Ltd., demonstrating growing interest from prominent global players in these technologies.

The adoption of Industry 4.0 principles has also emerged as a significant trend within smart factories. Industry 4.0 promotes the integration of digital technologies including the Internet of Things (IoT), big data analytics, and automation into manufacturing. By embracing these technologies, smart factories can optimize production, improve product quality, and increase overall efficiency, enabling manufacturers to remain competitive in an increasingly globalized market. This trend is likely to persist as companies aim to streamline operations and enhance performance through digital transformation.

Application Segmentation Insights:

Within the smart factory market, the automotive sector held the largest market share, accounting for over 27% in 2022. The automotive industry has been quick to adopt smart factory solutions, driven by a surge in demand for customized vehicles, advanced safety features, and eco-friendly options. Smart factory solutions are integral to meeting these demands, as they enable automation, real-time data analytics, and monitoring key features for refining production processes, ensuring high-quality outputs, and adhering to strict industry regulations. The shift towards electric and autonomous vehicles is also driving automotive manufacturers to adopt more advanced, flexible, and efficient manufacturing processes. These smart factories help automotive companies increase productivity, reduce costs, and stay competitive within a fast-paced market characterized by technological advancements.

The food and beverages segment is projected to experience the fastest growth in the global smart factory market, with a CAGR of over 13% during the forecast period. This rapid expansion is fueled by increasing consumer demand for food safety and quality, along with stringent regulatory requirements. In response, food and beverage manufacturers are turning to smart factory solutions, incorporating automation, IoT sensors, and data analytics to ensure precise quality control, efficient production, and compliance with food safety standards.

Traceability and real-time monitoring have also become essential, as they help address food recalls and mitigate supply chain disruptions. Through these smart technologies, food and beverage manufacturers are able to enhance product consistency, minimize waste, and adapt swiftly to changing consumer demands. These improvements not only support quality and safety but also increase operational efficiency and responsiveness, driving robust growth within this segment.

Order a free sample PDF of the Smart Factory Market Intelligence Study, published by Grand View Research.

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Full Body Motion Capture Software Market 2024 : Size, Growth Rate, Business Module, Product Scope, Regional Analysis And Expansions 2033

The full body motion capture software global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.

Full Body Motion Capture Software Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.

Market Size -

The full body motion capture software market size has grown rapidly in recent years. It will grow from $24.24 billion in 2023 to $28.19 billion in 2024 at a compound annual growth rate (CAGR) of 16.3%. The growth in the historic period can be attributed to increased adoption of motion capture technology in the film industry, biomechanics and sports science, popularity of science fiction films among young people, increasing adoption of tools and software, and rising demand for motion capture technology in the medical and healthcare industry.

The full body motion capture software market size is expected to see rapid growth in the next few years. It will grow to $52.35 billion in 2028 at a compound annual growth rate (CAGR) of 16.7%. The growth in the forecast period can be attributed to rising education transformation, adoption in automotive and manufacturing, increasing spatial computing, increasing popularity of virtual reality and augmented reality applications, and growing demand for motion capture technology in the sports industry. Major trends in the forecast period include adoption of machine learning and artificial intelligence (AI) algorithms, technological development, adoption of advanced sensors, integration with robotics, and integration with game development pipelines and real-time engines.

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The Business Research Company's reports encompass a wide range of information, including:

1. Market Size (Historic and Forecast): Analysis of the market's historical performance and projections for future growth.

2. Drivers: Examination of the key factors propelling market growth.

3. Trends: Identification of emerging trends and patterns shaping the market landscape.

4. Key Segments: Breakdown of the market into its primary segments and their respective performance.

5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.

6. Macro Economic Factors: Assessment of broader economic elements impacting the market.

Market Drivers -

The increasing popularity of virtual reality and augmented reality applications is expected to propel the growth of the full-body motion capture software market going forward. Virtual reality (VR) is a simulated experience created by computer technology that immerses the user in a completely virtual environment, often utilizing headsets and other sensory equipment to enhance the experience. Augmented Reality (AR) is a technology that overlays digital information, such as images, sounds, and other sensory enhancements, onto the real world. The rising popularity of virtual reality and augmented reality applications is driven by advancements in technology, increasing accessibility, and a growing demand for immersive experiences in gaming, education, and training. Full-body motion capture software enhances virtual and augmented reality by accurately tracking and translating a user's movements into the digital environment, creating immersive and interactive experiences. For instance, in January 2022, according to the Department for Business and Trade, a UK-based ministerial department, spending on augmented reality (AR) and virtual reality (VR) in the UK is projected to grow at an annual rate of 78.3% until 2024, with total expenditure expected to reach £62.5 billion ($79.22 billion) by 2030. Therefore, the increasing popularity of virtual reality and augmented reality applications is driving the growth of the full-body motion capture software market.

Market Trends -

Major companies operating in the full body motion capture software market focus on developing innovative solutions such as artificial intelligence-based real-time markerless motion-capture solutions to enhance accuracy and usability. Artificial intelligence-based real-time markerless motion-capture solution refers to motion-capture technology that uses AI to track movements without physical markers, operating in real-time. For instance, in June 2024, Move AI, a UK-based company that provides motion capture platforms and tools, launched Move Live, an AI-driven real-time markerless motion capture solution designed for broadcast, film, mixed reality, and live events. This on-premises solution processes data directly on the user's server rather than relying on Move AI's servers. Move Live can capture full-body motion from two actors simultaneously and stream the data for retargeting in an unreal engine.

The full body motion capture software market covered in this report is segmented –

1) By Product Type: Optical-Type, Inertial-Type, Other Product Types

2) By Deployment: On-Premise, Cloud-Based

3) By Application: Education, Life Sciences, Entertainment, Sports, Other Applications

4) By End-User: Academic Institutions, Research Institutes, Entertainment Studios, Sports Organizations, Other End-Users

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Regional Insights -

North America was the largest region in the full body motion capture software market in 2023. The regions covered in the full body motion capture software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Key Companies -

Major companies operating in the full body motion capture software market are Planar Systems Inc., Movella Holdings Inc., Vicon Industries Inc., Noitom Ltd., Dynamixyz, Reallusion, Cubic Motion Ltd., Rokoko, Di-O-Matic Inc., Artanim Interactive, Motion Analysis Corporation, Teslasuit, Qualisys AB, Motus Digital LLC, Faceware Technologies Inc., Manus VR, Motion Workshop, Xcitex Inc., Animatrik Film Design Inc., PhaseSpace Inc., Move AI Ltd.

Table of Contents

1. Executive Summary

2. Full Body Motion Capture Software Market Report Structure

3. Full Body Motion Capture Software Market Trends And Strategies

4. Full Body Motion Capture Software Market – Macro Economic Scenario

5. Full Body Motion Capture Software Market Size And Growth

…..

27. Full Body Motion Capture Software Market Competitor Landscape And Company Profiles

28. Key Mergers And Acquisitions

29. Future Outlook and Potential Analysis

30. Appendix

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[insightsresearch]

Automotive Communication Technology Market: Size & Share 2024 | Growing Rapidly with Industry Share, Industry Expansion Strategies till 2036

Analysis of Automotive Communication Technology Market Size by Research Nester Reveals the Market to grow with a CAGR of 17.3% during 2024-2036 and attain USD 82.8 billion by 2036. Research Nester assesses the growth and market size of the automotive communication technology market, which is anticipated due to the widespread demand for advanced driver assistance systems (ADAS) technologies. This is due to the rising number of traffic accidents and causalities, it is estimated that the market for devices that assist with steering, braking, monitoring, and warning tasks while driving will grow rapidly in the near future.

New York – August 26, 2024- Research Nester’s recent market research analysis on “Automotive Communication Technology Market: Global Demand Analysis & Opportunity Outlook 2036” delivers a detailed competitor's analysis and a detailed overview of the global automotive communication technology market in terms of market segmentation by application, bus module, vehicle class, and by region.

Growing advancements in Electric Control Units (ECUs) to promote the global market share of the Automotive Communication Technology market.

The global automotive communication technology market is estimated to grow majorly on account of the worldwide adoption of face recognition, Artificial Intelligence (AI), Machine Learning (ML), big data, and the Internet of Things (IoT). This allows easy integration into vehicles which is an alluring opportunity for automotive manufacturers and dealers. Furthermore, the number of Electronic Control Units (ECUs) per vehicle has increased as a result of the automotive manufacturers' initiatives. For instance, Hitachi[R1]  in 2022 stated that this integration of ECUs will result in a 25–50% reduction in the cost of electric/electronic (E/E) vehicles when compared to earlier models.

Some of the major growth factors and challenges that are associated with the growth of the Automotive Communication Technology market are:

Growth Drivers:

Increasing demand for connected vehicles

Shifting preference over advanced and small vehicles

Challenges:

The presence of concerns related to less reliability on electronics is expected to affect the market growth and act as a restraining factor. As IoT-connected devices and applications expand, there is an increasing risk of security breaches. When designing automotive communication technology, security is the priority to prevent data breaches and unauthorized access. Manufacturers may find it costly and time-consuming to comply with several laws and regulations from the automotive industry, thus, hindering market growth

Access our detailed report at: https://www.researchnester.com/reports/automotive-communication-technology-market/6358

[insightreportsunivdatos]

AI Data Center Market Size, Share, Growth, Trends and Forecast 2024-2032

The U.S. is one of the world’s leaders in technological advancement and AI is no different. While other industries from the healthcare and finance to the retail and automotive industries are incorporating AI, the need for advanced data processing capabilities intensifies. The change is initiated by AI data centers that are specially built to accommodate the required computing and data processing capabilities for AI applications. The Global AI Data Center Market was valued at USD billion in 2023 and is expected to grow at a strong CAGR of around 15.3% during the forecast period (2024-2032).

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The market for AI data centers in the United States is on the rise, mainly owing to the rise in energy demand from artificial intelligence technologies. A report by Goldman Sachs also indicates that data center electricity consumption is expected to increase by 160% in the next eleven years mostly from the demand for AI-related technologies. This is likely to raise the utility consumption level for data centers to roughly 8% of the total US electricity in that year from 3% in 2022.

Key Drivers of Demand

AI Workloads: Many AI applications have emerged in recent years, which in turn require a lot of computation. For example, answering a single query in ChatGPT consumes about nine times more energy than a typical Google search, which demonstrates that greater amounts of energy are used in AI applications.

Slowing Efficiency Gains: In the past, there have been advancements in the efficiency of data centers; however, the upward trajectory, that the efficiency has been registering for the past few years is not very steep. Hence, the primary total power utilization of data centers is trending upward despite a growing workload.

Infrastructure Investments: Thus, to meet this growing demand another $50 billion directing investment in new capacity in power generating utilities is expected to be incurred by 2030. This investment is primarily expected to be in natural gas and renewable resources.

Future Projections

Power Demand Growth: The total electric power demand of the United States is expected to increase at CAGR 2.4% through 2030 with data center consumption responsible for approximately 0.9% of this increase in power demand.

Environmental Impact: The growth in demand for power in the data centers is also expected to cause an equivalent increase in CO2 emissions; the CO2 emissions are expected to double between 2022 and 2030. This is not ideal for climate goals set by major tech firms such as Google and Microsoft where they seek to be carbon neutral within a similar timeline.

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Conclusion:

The AI data centers market in the United States is growing fast because of the growing investments in artificial intelligence technology in the US. AI data centers are becoming the infrastructure of the US digital economy, everything from managing the key services in healthcare and finance to serving as the backbone of smart cities and self-driving cars. Further, the data center market is expected to play a dominant role for the United States in the AI market in the future as more investments pour into AI and the government sets further efficiency and sustainable policies regarding energy usage.

[industrynewsupdates]

Collaborative Robots Market Size, Share, Growth and Industry Trends, 2030

The global collaborative robots market size was valued at USD 1.23 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 32.0%, from 2023 to 2030. The growth can be ascribed to the increasing adoption of collaborative robots, or cobots, in Small and Medium Enterprises (SMEs). These companies are increasingly investing in cobots to interact with humans in a shared workspace and automate manufacturing processes. The growth is further proliferated by technological advancements in the industry.

The integration of artificial intelligence and machine learning technologies in industrial robots is positively influencing the business space. Besides, the advent of 5G technology is also expected to stimulate the adoption of cobots in the manufacturing sector. The release of an industrial grade 5G wireless network by Nokia Corporation to meet the requirements of Industry 4.0 is a prominent example of such developments. The low-latency connectivity offered by 5G wireless solutions will help OEMs enhance robotic automation and increase the productivity, quality, and efficiency of the manufacturing processes.

The deployment of robots in industrial processes has also reduced the number of accident cases at workplaces. Moreover, they also significantly improve product quality, which is instigating their demand across various companies and enterprises. The increasing adoption of cobots in electronics, automotive, logistics, machine tooling, packaging, and assembling applications is expected to transform the outlook of the collaborative robots market over the foreseeable future.

Gather more insights about the market drivers, restrains and growth of the Collaborative Robots Market

Collaborative Robots Market Report Highlights 

• The mounting adoption of collaborative robots is seen in several industrial applications, as they serve as assisting devices for humans and enhance the overall efficiency and quality of the manufacturing processes

• The collaborative robots industry is expected to witness strong growth in the coming years with the increasing adoption of cobots across small and medium enterprises, as they are cost-effective and provide a higher return on investment

• Europe captured a sizeable revenue share of more than 30.0% in 2022 owing to the increased product application in electronics, logistics, and inspection verticals

• Key market players include ABB Group, EPSON Robots, DENSO Robotics, Energid Technologies Corporation, Fanuc Corporation, F&P Robotics AG, MRK-Systeme GmbH, and KUKA AG

Browse through Grand View Research's Next Generation Technologies Industry Research Reports.

• The global robotic platform market size was estimated at USD 9.97 billion in 2023 and is projected to grow at a CAGR of 5.9% from 2024 to 2030.

• The global drone charging station market size was estimated at USD 0.43 billion in 2023 and is expected to grow at a CAGR of 6.5% from 2024 to 2030.

Collaborative Robots Market Segmentation

Grand View Research has segmented the global collaborative robots market based on payload capacity, application, vertical, and region:

Collaborative Robots Payload Capacity Outlook (Revenue, USD Billion, 2018 - 2030)

• Upto 5kg

• Upto 10kg

• Above 10kg

Collaborative Robots Application Outlook (Revenue, USD Billion, 2018 - 2030)

• Assembly

• Pick & Place

• Handling

• Packaging

• Quality Testing

• Machine Tending

• Gluing & Welding

• Others

Collaborative Robots Vertical Outlook (Revenue, USD Billion, 2018 - 2030)

• Automotive

• Food & Beverage

• Furniture & Equipment

• Plastic & Polymers

• Metal & Machinery

• Electronics

• Pharma

• Others

Collaborative Robots Regional Scope (Revenue, USD Billion, 2018 - 2030)

• North America

o U.S.

o Canada

o Mexico

• Europe

o Germany

o U.K.

o France

• Asia Pacific

o China

o Japan

o India

• South America

o Brazil

• Middle East and Africa

Order a free sample PDF of the Collaborative Robots Market Intelligence Study, published by Grand View Research.

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Detailed Report on Propane Dehydration to Propylene Market | BIS Research 

Propane dehydration to propylene is a chemical process in which propane (C₃H₈) is converted into propylene (C₃H₆) by removing hydrogen (H₂) molecules. This process typically occurs through catalytic dehydrogenation, where propane is passed over a catalyst, often chromium, platinum, or vanadium-based, at high temperatures (typically between 500°C and 700°C).

At BIS Research, we focus exclusively on technologies related to precision medicine, medical devices, life sciences, artificial intelligence (AI), machine learning (ML), Internet of Things (IoT), big data, blockchain technology, Propane Dehydration to Propylene Material , advanced materials and chemicals, agriculture and FoodTech, mobility, robotics, and aerospace and defense, among others.

The global propane dehydrogenation (PDH) to propylene market is projected to reach $22,721.2 million by 2031 from $10,314.6 million in 2022, growing at a CAGR of 9.2% during the forecast period 2022-2031.

Propane Dehydration to Propylene Overview  

Propane dehydration to propylene, also known as propane dehydrogenation (PDH), is a key industrial process used to convert propane (C₃H₈) into propylene (C₃H₆), an essential building block in the petrochemical industry. Propylene is a vital raw material in the production of polypropylene plastics, acrylonitrile, propylene oxide, and other chemicals.

Chemical Reaction

The primary reaction in propane dehydrogenation is the removal of hydrogen atoms from propane to produce propylene and hydrogen gas:

C3H8→C3H6+H2C₃H₈ \rightarrow C₃H₆ + H₂C3​H8​→C3​H6​+H2​

This is an endothermic reaction, meaning it requires the input of energy (in the form of heat) to proceed. The reaction typically takes place at high temperatures, generally between 500°C and 700°C, depending on the catalyst and reactor design used.

Catalysts Used in PDH Includes 

Chromium Based Catalysts 

Platinum Based Catalysts 

Vanadium Based Catalysts 

Bimetallic Catalysts 

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Key factors influencing market growth include 

Abundant availability of low cost propane feedstock especially from shale gas 

Rapid Industrialization and expanding consumer markets 

PDH technology is expected to play an increasingly central role in the global propylene supply chain, offering a more flexible and scalable solution for producers. 

The PDH market is poised for long-term growth, supported by favorable economic conditions, strong demand drivers, and continued innovation in process and catalyst technology.

In the automobile industry, the demand for propylene derivatives such as propylene oxide and polypropylene is rising due to the increasing number of electric vehicles that are made from lightweight materials.

Market Segmentation 

1 By Technology

CATOFIN

UOP Oleflex

Fluidized Catalytic Dehydrogenation (FCDh)

Steam Active Reforming (STAR)

Based on technology, the propane dehydrogenation (PDH) to propylene market is estimated to be led by the UOP Oleflex segment during the forecast period of 2022-2031. 

2 By End Users 

Automotive and Transportation

Construction

Packaging

Textile 

Electrical and Electronics

Based on end users, the propane dehydrogenation (PDH) to propylene market is estimated to be led by the packaging segment during the forecast period of 2022-2031.

3 By Derivative 

Polypropylene

Propylene Oxide

Acrylonitrile

Cumene

Alcohols

Based on derivative, the propane dehydrogenation (PDH) to propylene market is estimated to be led by the polypropylene segment during the forecast period of 2022-2031.

4  By Region 

North America - U.S., Canada, and Mexico

Europe - Germany, France, Italy, Spain, Russia, and Rest-of-Europe

China

U.K.

Asia-Pacific and Japan - Japan, India, South Korea, ASEAN, and Rest-of-Asia-Pacific and Japan

In the global propane dehydrogenation (PDH) to propylene market, China and North America are anticipated to gain traction in terms of propane dehydrogenation (PDH) to propylene production, owing to the presence of the world’s largest manufacturers in those regions.

Demand Drivers and Limitations 

Growing demand for propylene based products

Increased availability of shale gas 

Sustainable and Circular Economy Initiatives 

Petrochemical Demand 

Fluctuation in Crude Oil Price 

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Key Companies 

•    LyondellBasell Industries Holdings B.V.

•    Borealis AG

•    INEOS Group Limited

•    GAIL (India) Limited

•    Dow Chemical Company

•    Koch Industries, Inc.

•    Formosa Plastics Corporation

•    KBR Inc.

Recent Developments in Propane Dehydrogenation (PDH) to Propylene Market

In March 2022, KBR and ExxonMobil Catalysts and Licensing collaborated on the advancements of propane dehydrogenation (PDH) technology. Under the collaboration, ExxonMobil's proprietary catalyst technology would be combined with KBR's proprietary K-PRO PDH technology to convert propane into propylene.

In January 2022, Hyosung Chemical started the production of propylene by PDH technology for the production of polypropylene units. Before the start-up of this plant, the polypropylene units were dependent on imported propylene.

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Conclusion

The propane dehydration to propylene (PDH) market has experienced significant growth, driven by increasing global demand for propylene, especially for downstream products like polypropylene, acrylonitrile, and propylene oxide. 

[tamanna31]

Smart Factory Market Intelligence Report Offers Growth Prospects

Smart Factory Industry Overview

The global smart factory market size was valued at USD 130.25 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 9.8% from 2023 to 2030.

The market for smart factory is expected to expand due to several key factors, including increasing emphasis on energy efficiency, improved manufacturing productivity, and the establishment of advanced manufacturing infrastructures. Additionally, there are promising prospects for the adoption of collaborative robots and ongoing advancements in 3D printing technology, which are set to create lucrative opportunities for the market during the forecast period.

Gather more insights about the market drivers, restrains and growth of the Smart Factory Market

Artificial intelligence (AI) and machine learning (ML) are playing a pivotal role in smart factories. These technologies enable predictive maintenance, quality control, and process optimization. AI-driven analytics can uncover valuable insights from vast datasets, helping manufacturers make data-driven decisions. As AI capabilities continue to evolve, their integration into smart factories is expected to grow.

For instance, in September 2022, Datametrex AI Ltd. announced the launch of Smart Factory AI technology based on big data, Artificial Intelligence (AI), and server automation operating system technologies. Additionally, the company claimed to receive purchase orders totaling CAD 200,000 from various multinational corporations, including Woongjin, Co. Ltd., Kolon Benit, and Lotte Data Communication Co., Ltd.

The adoption of Industry 4.0 principles is a prominent trend in smart factories. Industry 4.0 emphasizes the integration of digital technologies such as IoT, big data analytics, and automation into manufacturing processes. Smart factories are leveraging these technologies to optimize production, improve quality, and enhance overall efficiency. This trend is expected to continue as manufacturers seek to remain competitive in a globalized market.

Furthermore, the Internet of Things (IoT) is the backbone of smart factories, facilitating real-time monitoring and control of machines and processes. The growing number of connected devices, sensors, and actuators is enhancing visibility and automation within factories. The increasing deployment of 5G networks and the advancement of edge computing will further strengthen the significance of IoT in the market.

The COVID-19 pandemic had a profound impact on the smart factory industry. While it initially disrupted supply chains and manufacturing operations, it also accelerated the adoption of digital technologies in factories. The need for remote monitoring, predictive maintenance, and agile production processes became apparent during the pandemic, driving increased investment in smart factory solutions. Additionally, the emphasis on worker safety and social distancing led to a greater interest in automation and robotics. The market is anticipated to sustain its growth momentum as the global economy recovers from the pandemic. This is attributed to manufacturers placing greater emphasis on enhancing resilience, efficiency, and operational flexibility in their processes.

Smart Factory Market Segmentation

Grand View Research has segmented the global smart factory market report on the basis of technology, field devices, application, and region:

Technology Outlook (Revenue, USD Billion, 2018 - 2030)

Distributed Control Systems (DCS)

Enterprise Resource Planning (ERP)

Human Machine Interface (HMI)

Manufacturing Execution System (MES)

Product Life Cycle Management (PLM)

Program Logic Controller (PLC)

Supervisory Controller and Data Acquisition (SCADA)

Others

Field Devices Outlook (Revenue, USD Billion, 2018 - 2030)

Sensors

Industrial Robotics

Machine Vision Systems

Others

Application Outlook (Revenue, USD Billion, 2018 - 2030)

Aerospace & Defense

Automotive

Energy & Power

Food and Beverages

Healthcare

Semiconductor & Electronics

Oil & Gas

Others

Regional Outlook (Revenue, USD Billion, 2018 - 2030)

North America

US

Canada

Europe

UK

Germany

France

Italy

Spain

Rest of Europe

Asia Pacific

China

India

Japan

South Korea

Rest of Asia Pacific

Latin America

Brazil

Mexico

Rest of Latin America

Middle East & Africa (MEA)

UAE

Saudi Arabia

Rest of Middle East & Africa

Browse through Grand View Research's Next Generation Technologies Industry Research Reports.

The global generative AI smartphone market shipments was estimated at 52.1 million units in 2023 and is projected to grow at a CAGR of 40.9% from 2024 to 2030. 

The global aviation software market size was estimated at USD 10.68 billion in 2023 and is expected to grow at a CAGR of 7.2% from 2024 to 2030. 

Key Companies & Market Share Insights

The market is classified as highly competitive, with the presence of several smart factory players. The key players operating in the industry are focusing on strategic alliances, product developments, expansions, and mergers & acquisitions to remain competitive. For instance, in March 2023, Schneider Electric SE, a digital transformation provider of energy management and industrial automation, initiated the construction of its upcoming smart factory in Dunavesce, Hungary. This state-of-the-art facility, backed by an investment of USD 42.67 million (€40 million), would cover an area of 25,000 sq. m. and will accommodate a workforce of 500 employees. Such strategies by key players are anticipated to augment market growth over the forecast period. Following are some of the major players in the global smart factory market:

ABB Ltd.

Dassault Systemes S.E.

FANUC Corporation

General Electric Company

Honeywell International, Inc.

Johnson Controls, Inc.

KUKA AG

Mitsubishi Electric Corporation

Rockwell Automation, Inc.

Schneider Electric SE

Canon Inc.

Cisco System Inc.

Emerson Electric Co. 

Order a free sample PDF of the Smart Factory Market Intelligence Study, published by Grand View Research.

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Global Automotive Service Market Analysis 2024: Size Forecast and Growth Prospects

The automotive service global market report 2024from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.

Automotive Service Market, 2024report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.

Market Size - The automotive service market size has grown strongly in recent years. It will grow from $687.74 billion in 2023 to $723.74 billion in 2024 at a compound annual growth rate (CAGR) of 5.2%. The growth in the historic period can be attributed to increasing e-commerce delivery operations, increasing complexity of automotive systems, increasing production and demand for electric passenger cars, and increasing yearly maintenance spending on cabs.

The automotive service market size is expected to see strong growth in the next few years. It will grow to $898.48 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%. The growth in the forecast period can be attributed to growing leisure and tourism industries, increase in demand for automobile production and sales, growing demand for commercial vehicles, increasing penetration of electric vehicles, increasingly using artificial intelligence-based automated vehicle. Major trends in the forecast period include AI-automated vehicle inspection technology, technological integration, automotive technology and software expertise, integration of traditional mechanical components, and collaborations and partnerships.

Order your report now for swift delivery @ https://www.thebusinessresearchcompany.com/report/automotive-service-global-market-report

Scope Of Automotive Service MarketThe Business Research Company's reports encompass a wide range of information, including:

1. Market Size (Historic and Forecast): Analysis of the market's historical performance and projections for future growth.

2. Drivers: Examination of the key factors propelling market growth.

3. Trends: Identification of emerging trends and patterns shaping the market landscape.

4. Key Segments: Breakdown of the market into its primary segments and their respective performance.

5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.

6. Macro Economic Factors: Assessment of broader economic elements impacting the market.

Automotive Service Market Overview

Market Drivers -The rising adoption of electric vehicles is expected to propel the growth of the automotive service market going forward. Electric vehicles are automobiles propelled by electric motors and powered by rechargeable batteries or energy storage systems, offering a cleaner and more sustainable alternative to traditional fossil fuel-powered vehicles. Electric vehicles (EVs) are increasing due to growing environmental concerns, governmental initiatives, and technological advancements. Automotive service for electric vehicles ensures reliability through specialized maintenance, including diagnostics, battery health checks, and software updates, fostering confidence in their sustainable and efficient operation. For instance, in March 2023, according to the International Energy Agency, a France-based intergovernmental organization, around 14% of all new automobiles sold in 2022 were electric, an increase from about 9% in 2022. Further, there were 14 million sales of electric vehicles in 2023, a 35% increase from 2022. Therefore, the increasing penetration of electric vehicles is driving the growth of the automotive service market.

Market Trends - Major companies operating in the automotive service market are focusing on developing innovative technologies, such as tire-changing technology, to redefine the standards of convenience, efficiency, and expert care in the automotive service industry. Tire-changing technology encompasses various tools, machines, and methods designed to facilitate the removal and installation of tires on vehicles. For instance, in November 2023, Kwik Fix Auto Pvt. Ltd., an India-based automotive service industry, introduced the mobile-run Flat Tyre Changer Service Swift and a dealership-quality tire-changing experience provided at the customer's convenience. The service goes beyond emergency responses to become an integral part of the customer's vehicle management strategy, offering everything from tire fitting and balancing to routine checks and maintenance.

The automotive service market covered in this report is segmented –

1) By Service Type: Maintenance Services, Mechanical, Exterior and Structural 2) By Provider: Franchise General Repairs, OEM Authorized Service Centers, Local Garage, Tire Stores And Repair, Other Providers 3) By Application: Passenger Vehicle, Commercial Vehicle

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Regional Insights - North America was the largest region in the automotive service market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive service market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Key Companies - Major companies operating in the automotive service market are Volkswagen Group, Toyota Motor Corporation, Ford Motor Company, General Motors, Honda Motor Co. Ltd., Hyundai Motor Company, Robert Bosch GmbH, Tesla Inc., Kia Corporation, Denso Corporation, Carmax Autocare Center, Bridgestone Corp., Faurecia SE, Lear Corporation, Asbury Automotive Group Inc., Mahindra and Mahindra Automotive, Firestone Natural Rubber Company LLC, Belron International Ltd., Inter Cars S.A., Driven Brands Holdings Inc., Halfords Group plc, Monro Inc., Safelite Group Inc., Jiffy Lube International Inc., Midas International LLC

Table of Contents 1. Executive Summary 2. Automotive Service Market Report Structure 3. Automotive Service Market Trends And Strategies 4. Automotive Service Market – Macro Economic Scenario 5. Automotive Service Market Size And Growth ….. 27. Automotive Service Market Competitor Landscape And Company Profiles 28. Key Mergers And Acquisitions 29. Future Outlook and Potential Analysis 30. Appendix

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