Connect with us

Technology

Flexible Packaging Market size is set to grow by USD 51.6 billion from 2024-2028, Rise in demand for pouch packaging solutions boost the market, Technavio

Published

on

NEW YORK, July 4, 2024 /PRNewswire/ — The global flexible packaging market size is estimated to grow by USD 51.6 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 5.97% during the forecast period. Rise in demand for pouch packaging solutions is driving market growth, with a trend towards advanced recycling technologies for recycling flexible packaging waste. However, government regulations on packaging poses a challenge. Key market players include Amcor Plc, American Packaging Corp., Behr Bircher Cellpack BBC AG, Berry Global Inc., Bischof Klein SE and Co. KG, Bryce Corp., CCL Industries Inc., Constantia Flexibles Group GmbH, Glenroy Inc., Huhtamaki Oyj, Mondi Plc, Novolex, Printpack Inc., ProAmpac Holdings Inc., Sealed Air Corp., Sonoco Products Co., Transcontinental Inc., UFlex Ltd., WestRock Co., and Wipak Group.

Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report

Flexible Packaging Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 5.97%

Market growth 2024-2028

USD 51.6 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

5.28

Regional analysis

APAC, North America, Europe, South America, and Middle East and Africa

Performing market contribution

APAC at 49%

Key countries

China, US, UK, Germany, and Japan

Key companies profiled

Amcor Plc, American Packaging Corp., Behr Bircher Cellpack BBC AG, Berry Global Inc., Bischof Klein SE and Co. KG, Bryce Corp., CCL Industries Inc., Constantia Flexibles Group GmbH, Glenroy Inc., Huhtamaki Oyj, Mondi Plc, Novolex, Printpack Inc., ProAmpac Holdings Inc., Sealed Air Corp., Sonoco Products Co., Transcontinental Inc., UFlex Ltd., WestRock Co., and Wipak Group

Market Driver

The flexible packaging market is experiencing significant growth due to the rising demand for lightweight, convenient, and economical packaging solutions in the food and beverage industry. Flexible packaging, which is primarily made up of plastics and aluminum foil, offers numerous benefits such as extended shelf life, reduced material usage, and improved product protection. However, the non-recyclable nature of plastic materials poses a challenge to the market’s growth. To address this issue, key players in the flexible packaging industry and raw material suppliers are introducing eco-friendly plastic film solutions and implementing various recycling programs. For instance, MRFF (Materials Recovery for the Future), a collaborative platform of stakeholders including Amcor, Sealed Air, Procter and Gamble, APR, PepsiCo, FPA, and Target, among others, aims to provide effective and economical solutions for recycling and recovering plastic materials throughout the lifecycle of the plastic film. Additionally, initiatives like Waste & Resource Action Program (WRAP), Plastics Industry Recycling Action Plan (PIRAP), and Material Recovery Facility (MRF) are also contributing to the recycling efforts. Moreover, advanced recycling technologies such as plasma technology, which uses less energy than conventional recycling methods, are being adopted by companies like Alcoa, Tetra Pak, Klabin, and TSL Ambiental, to separate paper, aluminum, and plastic components used in packaging. The growing adoption of such technologies will foster the growth of the global flexible packaging market for food and beverages during the forecast period. 

The flexible packaging market is witnessing significant growth, driven by the increasing popularity of pouches, bags, sachets, and wraps. Raw materials like metal, plastic, and paper are key inputs. Brands are focusing on reducing carbon footprint, aligning with the Paris Agreement, and addressing hygiene awareness. Smart packaging, including formats and designs, is a trend, with inventory management, product tracking, and intelligent storage solutions gaining traction. Stand-up pouches, printing technology like flexography, and applications in personal care, healthcare, and food industries are major growth areas. Sustainable packaging, using bioplastics, films, and wraps, is essential for reducing carbon emissions and food wastage. The market’s production volume is projected to reach millions of tonnes, with lightweight packaging solutions extending product shelf life and ensuring product protection in various sectors, including pharmaceuticals and cosmetics. 

Research report provides comprehensive data on impact of trend. For more details- Download a Sample Report

Market Challenges

The food and beverage industry relies heavily on packaging to prevent contamination and food spoilage. However, the choice of packaging materials and their grades is crucial in this context. With increasing environmental concerns, regulations against non-biodegradable packaging materials like plastic have been imposed by various governments. For instance, the European Commission restricted the use of Bisphenol A in certain food-contact materials, setting specific migration limits. India also has regulations in place, such as the Food Safety and Standards Regulations, which specify standards for containers made from plastic and other materials used in contact with food. As governments worldwide ban plastic packaging, vendors are turning to alternative, eco-friendly solutions. This shift may pose challenges to the flexible packaging market’s growth during the forecast period.The flexible packaging market faces several challenges in today’s business landscape. Oceans and landfills are filled with plastic waste from packaging, threatening marine life and ecosystems. Kraft paper mills and e-commerce sectors drive demand for flexible packaging, but sustainability concerns persist. Baked goods, snack foods, and confectionery items require convenience and resealability, leading to increased use of films, blister packaging, and retort pouches. Gulf states’ growing populations and health awareness trends boost demand for frozen bakery food and ready-to-eat packaged foods. Industrialization and busy lifestyles fuel the need for robust pharmaceutical packaging using laminated plastic, aluminum, and thermal sterilization. Coating and converting technologies offer solutions to address these challenges while catering to sectors like vegetables, meats, and processed food. Health-conscious consumers demand eco-friendly alternatives, making it crucial for companies to innovate and adapt to meet these evolving needs.

For more insights on driver and challenges – Request a sample report!

Segment Overview 

This flexible packaging market report extensively covers market segmentation by

Material 1.1 Flexible plastic1.2 Flexible paper1.3 Flexible foilProduct 2.1 Pouches2.2 Bags2.3 Films and wraps2.4 OthersGeography 3.1 APAC3.2 North America3.3 Europe3.4 South America3.5 Middle East and Africa

1.1 Flexible plastic- The flexible packaging market is experiencing steady growth due to its numerous benefits, including lightweight, cost-effective, and protective properties. This market caters to various industries, such as food, beverages, pharmaceuticals, and consumer goods. Key players in this industry focus on innovation and sustainability, offering eco-friendly solutions and advanced packaging technologies. The market’s future looks promising with increasing demand for convenient and portable packaging options.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

Research Analysis

Flexible packaging is a dynamic industry that offers various solutions in the form of pouches, bags, sachets, roll stocks, wraps, and films for diverse product categories, including food and beverage and personal care. These packaging types provide excellent product protection, ease of transportation, and convenience. Flexible metal packaging and rigid metal packaging also have their unique advantages. The use of flexible packaging contributes to reducing carbon emissions and energy consumption compared to traditional packaging methods. The personal care sector is a significant consumer of flexible packaging, particularly in the form of sachets. Bioplastic, a sustainable alternative to traditional plastics, is gaining popularity in this market. Food shelf life and product wastage are crucial factors driving the demand for flexible packaging. Films and wraps help maintain the freshness of food and beverages, reducing wastage. Eco-friendly solutions, such as biodegradable and compostable packaging, are also gaining traction. Polyethylene is a commonly used material in flexible packaging due to its versatility and cost-effectiveness. However, other materials like polypropylene, polyvinyl chloride, and polystyrene are also used depending on the specific application requirements. Overall, the flexible packaging market continues to evolve, offering innovative and sustainable solutions for various industries.

Market Research Overview

Flexible packaging is a dynamic and innovative industry that offers various solutions in the form of pouches, bags, sachets, roll stocks, wraps, and more, for diverse sectors including personal care, food and beverage, healthcare, and cosmetics. The raw materials used in flexible packaging include metal, plastic, and paper, with assumptions about future trends leaning towards eco-friendly solutions and sustainable packaging. Brands are increasingly focusing on reducing their carbon footprint and adhering to the Paris Agreement by using lightweight packaging solutions and bioplastics. Hygiene awareness and smart packaging are key trends, with formats and designs incorporating inventory management, product tracking, and intelligent storage. The personal care sector, including healthcare products and cosmetic items, is a significant market for flexible packaging, with formats ranging from stand-up pouches to films and wraps. The production volume for flexible packaging is projected to reach millions of tonnes, with a focus on reducing carbon emissions and energy consumption. Flexible metal packaging and rigid metal packaging have their unique applications, with flexible metal packaging offering advantages in terms of product protection and ease of transportation. The food industry, including baked goods, snack foods, and beverages, is a major consumer of flexible packaging due to its convenience, resealability, and ability to extend product shelf life, thereby reducing food wastage. Eco-friendly solutions, such as natural colors and recycling, are becoming increasingly important considerations in the industry, with environmental concerns surrounding plastic contamination, marine life, and ecosystems driving the need for sustainable practices. Kraft paper mills and the e-commerce sector are also significant markets for flexible packaging.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

MaterialFlexible PlasticFlexible PaperFlexible FoilProductPouchesBagsFilms And WrapsOthersGeographyAPACNorth AmericaEuropeSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/flexible-packaging-market-size-is-set-to-grow-by-usd-51-6-billion-from-2024-2028–rise-in-demand-for-pouch-packaging-solutions-boost-the-market-technavio-302189031.html

SOURCE Technavio

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Global Times: Xi’s letter to lecturers in Shanghai inspires silver generation to contribute to city building

Published

on

By

BEIJING, Nov. 14, 2024 /PRNewswire/ — On a sunny afternoon in early November, the warm sunlight pours into a solarium by the Huangpu River in downtown Shanghai. Huang Baomei and several other senior citizens gather around a table, excitedly reading a special letter together.

A day earlier, they received a letter from President Xi Jinping, after writing a letter to him weeks before to share their experiences and thoughts of providing free lectures to local residents in recent years as members of “Laoyangshu,” or “Old Poplar,” a grassroots lecture program in Shanghai consisting of retired officials, military officers, experts, teachers, and role models.

In his reply to the “Old Poplar” members, Xi praised the initiative as a meaningful approach to recount historical events, explain the Party’s new theories, and share the positive changes in the city with residents by blending the lecture content with the lecturers’ personal experiences.

Underlining the principle that cities should be built by the people and for the people, Xi called on the members of the program to inspire more people to embrace and implement the concept of a people-oriented city, the Xinhua News Agency reported. 

“Xi’s letter has given us tremendous encouragement and strength,” Huang told the Global Times with a big smile on her face.

“Even though I’m not young anymore, I never find delivering lectures tiring,” she said. “Instead, sharing the positive changes that have happened, and are happening, in Shanghai and China with my personal experiences, brings me great joy.”

Simplify the profound

With her straight posture and quick reflexes, Huang appears much younger than her actual age of 93. This elegant and energetic elderly lady was selected as China’s first generation of “model workers” in the 1950s as a textile worker, and was awarded the “July 1st Medal” – a top medal for lifelong contribution – by President Xi in 2021. She has been a role model for her dedication and professionalism for generations. 

Huang worked for 42 years at a textile factory in Shanghai. Now, as one of the eldest members of the “Old Poplar,” she passionately engages with residential communities, enterprises, and schools, sharing stories about China’s development with young people.

“At my busiest, I gave three lectures in a day, each lasting two hours, and the audience would give me a thumbs up,” Huang said proudly.

Development is a grand topic. Instead of discussing abstract concepts, Huang often shares her personal experiences filled with vivid and encouraging moments.

“When I worked in the textile factory, I tried many methods to improve efficiency and yield,” Huang told the audience that she made a lot of effort in optimizing the work process, and later successfully doubled the efficiency to simultaneously operate 800 spindles alone. Inspired by Huang’s talent and endeavor, the spinners at the local factory produced nearly half of China’s cotton cloth in the 1950s, a manufacturing miracle by then. 

Moreover, Huang once had an opportunity to become a movie star, but she rejected. “Spinning is my specialty and life career,” she said.

Huang’s heartfelt narrations embody the dedication and relentless spirit of the older Chinese generation, and vividly represent the past decades of rapid development in the country, which have resonated deeply with many in the audience. “As long as my health permits, I will continue to try hard to inspire more people, especially the young ones, in ways that they like,” Huang told the Global Times.

Similarly, 75-year-old Hu Jun, another “Old Poplar” member, is also good at using relatable details to explain macro policies in methods that resonate with the public.

The “Old Poplar” program mainly targets residents of Shanghai’s downtown Yangpu district. When discussing China’s industrial restructuring, Hu used Yangpu as an example to illustrate how this cradle of modern Chinese industry has continuously adapted its industrial structure to keep pace with the times.

“Yangpu was once known as the ‘golden belt’ of industry. After China’s reform and opening-up in the late 1970s, it became the ‘Rust Belt.’ Now, through years of industrial upgrading, Yangpu has transformed into the ‘beautiful belt,’ evolving into a green and livable community,” said Hu.

Hu was an official in the Yangpu district government before retirement. He expressed his excitement and enthusiasm upon receiving the reply letter from Xi, saying it reflects the president’s great expectations for grassroots retired officials and his affirmation of Shanghai’s urban construction.

“Even though I am retired, I will continue to serve as a promoter and practitioner of constructing a people-oriented city.”

Both teachers and friends

The “Old Poplar” members have conducted more than 2,600 free lectures over the last five years. They not only do well in vividly explaining macro topics, but are also good at sharing relatable life experiences tailored to audiences of different ages, becoming both teachers and friends to local residents.

Li Peirong, 75, used to work in a local township-level subdistrict before retiring, from which she gained rich experience dealing with the elderly. Now as an “Old Poplar” member, Li’s lecturers are mainly for senior citizens, whom she teaches how to use electronics such as smartphones. “Most of my elderly audience members have learned how to use [smartphones],” she said.

Li also promotes knowledge about electronic fraud prevention in her lectures. “We want to help more elderly people bridge the digital divide, and enjoy the benefits of modern technology.”

She said that receiving the reply from Xi makes her very proud, and further appreciates the significance of what she and other “Old Poplar” members are doing. “I never feel old,” she told the Global Times. “Even in retirement, we can continue to harness the power of our ‘silver generation’ in contributing to society.”

For young audiences, the “Old Poplar” has also made many efforts to prepare its lectures.

As former chairman of the board of supervisors of a technological innovation enterprise, 64-year-old Xin Peihua now mainly engages with young people through the “Old Poplar” program, giving lectures at internet companies.

Xin said she usually keeps her lectures to about half an hour, considering that most young people have busy work schedules. During and after the lectures, she talks with the young employees about work-related stress and their anxieties regarding potential layoffs, much like a caring senior family member. “Now when they’re feeling confused, they sometimes come to me to share their concerns and seek advice,” Xin told the Global Times.

Xin also regularly talks with the new couples at Yangpu’s marriage registries, sharing with them experiences of getting along with spouses and in-laws, maintaining marriage, and building a happy family. These small talks are so popular, that some new couples from other districts choose to register their marriages at Yangpu, said Xin.

She said that receiving a reply from President Xi is a “supreme honor” to her. “I want to serve as a flourishing old poplar, contributing my strength to the joint effort of building a beautiful city for the people, and creating a happy and fulfilling life together.”

Attract the young

The “Old Poplar” program was established in 2020, following Xi’s inspection trip to Shanghai the previous year.

In November 2019, during his visit to the city, Xi proposed the concept that “the cities are built by the people and are for the people,” and has issued several important directives regarding the construction of a people-oriented city in Shanghai. 

During that visit, Xi met Huang and encouraged her to further share her experiences with the young people, to strengthen their confidence in the path, theory, system, and culture of socialism with Chinese characteristics.

Inspired by Xi’s words, Yangpu district established the “Old Poplar” program to share with the public the Party’s stories and promote the spirit of Shanghai city. The program has gathered over 300 retired senior citizens who are well-versed in theory, skilled in public speaking, and eager to contribute as volunteer lecturers, according to Deng Qing, head of the Bureau of Retired Veteran Cadres of the CPC Yangpu District Committee, which built the program.

To date, the “Old Poplar” has had a cumulative audience of more than 280,000. How to make young people interested in this format of lectures, and enjoy listening to the stories shared by these “grandpas” and “grandmas,” have been topics that the “Old Poplar” keeps considering.

To attract a Gen Z audience, the program has created accounts on popular video platforms like Bilibili, inviting its members to host livestream lectures. “A Huang lecture, for example, attracted 5,000 viewers during the live broadcast, with a total of over 50,000 views for the replay,” Deng told the Global Times.

The engaging and diverse lectures have been well received by the younger audience. Xu Yifan, a staffer at a Shanghai-based internet enterprise, said he has watched livestream and videos of “Old Poplar” lectures on Bilibili, and felt the deep love of the elderly lecturers for Shanghai and China.

“Their lectures convey knowledge but also power to us, strengthening our young generation’s aspirations for the future, and encouraging us to actively participate in the development of a people-oriented city,” Xu told the Global Times.

Cheng Yunuo is a fifth-grader at a primary school in Yangpu. She has attended many lectures held by the “Old Poplar” at her school. 

“The experiences and insights of the older generation have made me deeply realize that, as a Chinese teenager in the new era, I have a responsibility to study hard and continuously improve my knowledge and skills,” Cheng said.

https://www.globaltimes.cn/page/202411/1323005.shtml

View original content:https://www.prnewswire.com/news-releases/global-times-xis-letter-to-lecturers-in-shanghai-inspires-silver-generation-to-contribute-to-city-building-302305260.html

SOURCE Global Times

Continue Reading

Technology

Longsys Unveils New Products at Electronica Munich, PTM Business Model Drives Innovation in Automotive Storage

Published

on

By

MUNICH, Nov. 14, 2024 /PRNewswire/ — The much-anticipated Electronica Munich has officially opened. At this international event, Longsys(301308.SZ) launched a range of new products alongside its PTM (Product Technology Manufacturing) business model, with a focus on industrial and automotive storage solutions to meet the global demand for intelligent storage across various industries.

Global Expansion of Storage Solutions
International Debut of the PTM Business Model

Longsys introduced its innovative PTM business model for the first time to a global audience at this event. PTM provides high-end, flexible, and efficient full-stack custom services to empower the intelligent transformation of industries such as automotive and industrial sectors, breaking through the homogeneity of existing products.

Through a series of mergers and an extensive global presence, Longsys has established subsidiaries and branches across Europe, the Americas, and Asia. This forms an international service chain from R&D through to production and sales. Additionally, the company has developed a flexible, efficient, and cost-optimized global storage manufacturing supply chain network to cater to diverse custom demands. This network not only provides efficient localized support and services but also lays a solid foundation for PTM’s global implementation.

New Products Showcased

In Germany—a powerhouse of the automotive and industrial sectors—Longsys unveiled high-reliability industrial and automotive-grade products, including the xSPI NOR Flash and Automotive Grade 2 LPDDR4x. The Lexar brand showcased products like the JumpDrive dashcam USB and PCIe Gen5 SSD, covering a broader range of automotive consumer markets.

xSPI NOR Flash
In-house Chip, Expanding Automotive Storage, Multi-Form Factor Packaging, High Frequency, Large Capacity

To better meet customer storage demands, Longsys has strengthened its design capabilities in controllers and Flash chips, gaining a deeper understanding of underlying technologies and manufacturing processes. xSPI NOR Flash, a key component of its in-house Flash chip capabilities, enhances its automotive storage range and expands its technical service capabilities.

The xSPI NOR Flash employs advanced 4xnm technology with a single chip capacity of 256Mb and supports on-chip ECC for improved data reliability. It supports x1 and x8 interface modes, with a maximum clock frequency of 200MHz, reaching up to 3200Mbps data transfer in DTR mode. Compared to traditional SPI NOR Flash, it significantly accelerates code read speeds, reducing system boot-up and response times. Industrial-grade products support operating temperatures from -40°C to 85°C and -40°C to 105°C, while forthcoming automotive-grade versions will comply with Grade 2 standards for rigorous automotive storage requirements.

Additionally, Longsys launched a 1.8V 256Mb traditional SPI NOR Flash product, compatible with mainstream industry command sets and available in multiple packaging options, including WSON8, BGA24, and SOP16. This product supports x1, x2, and x4 interface modes with a maximum clock frequency of 166MHz, achieving up to 1328Mbps data transfer in DTR mode, providing customers with compatibility, flexibility, and performance.

Longsys’s xSPI NOR Flash and SPI NOR Flash products, with high capacity, speed, and reliability, are ideal storage solutions across automotive, communications, industrial control, personal computing, security, and wearable tech fields, offering high-performance, dependable storage support.

Automotive Grade 2 LPDDR4x
Automotive-grade DRAM Products, AEC-Q100, High and Low-Temperature Tolerance

The Automotive Grade 2 LPDDR4x supports capacities of 2GB, 4GB, 6GB, and 8GB, with transfer rates up to 4266Mbps and a broad operational temperature range of -40°C to 105°C. Equipped with internal ECC for enhanced data consistency, it meets high data reliability requirements essential for automotive products.

With VDDQ voltage as low as 0.6V and support for PASR (Partial Array Self-Refresh) to reduce power consumption, this product optimizes data transfer for automotive electronics, supporting energy efficiency and handling high workloads. It also incorporates ODT and DQS technologies for signal stability and anti-interference, enhancing data transmission and supporting automotive intelligence demands.

After successfully launching automotive-grade eMMC and UFS products, Longsys has introduced automotive-grade DRAM, creating a dual-drive layout in automotive storage solutions for global customers.

Notably, Longsys’s Automotive LPDDR4x received the Best-in-Show award from Embedded Computing Design during the event, the only automotive-grade DRAM product to earn this honor. This achievement not only recognizes Longsys’s exceptional R&D capabilities but also underscores the market potential and global appeal of its automotive storage products.

Click on this video to learn more.
https://www.youtube.com/watch?v=exDIJqSegTE

Lexar® JumpDrive® Dashcam USB
Compact, Durable, Convenient

With the push for intelligent automotive advancements, public interest in data security for in-vehicle devices is rising. The Lexar® JumpDrive® Dashcam USB, with its compact and reliable design, provides a professional in-vehicle storage solution. Offering capacities from 64GB to 256GB and read speeds up to 200MB/s, it features a compact, seamless design to securely fit vehicle interfaces without obstructing access. Even in extreme temperatures, it ensures data safety and integrity. The JumpDrive® Dashcam USB supports loop recording and sentry mode, compatible with various vehicle brands and designed specifically for dashcam applications. Awarded the Red Dot Design Award in 2024, it’s recognized for both performance and design, making it ideal for vehicle monitoring.

Enterprise Storage, New Technology
Accelerating AI Terminal Storage Innovation

With advancements in AI, technology companies are experiencing new growth in cloud services, intelligent driving, and streaming, leading to increased demand for high-capacity SSDs and DRAM in AI terminals. This year, Longsys launched a series of innovative storage products, including eSSDs, RDIMMs, CXL 2.0 memory expansion modules designed for AI servers, and a new LP-CAMM2 memory module tailored for AI PCs, addressing new storage needs in the AI era and exploring more possibilities in edge AI with global partners.

At Electronica Munich, Longsys engaged with experts and users worldwide to discuss the potential applications of storage technology in industrial and automotive intelligence, aiming to drive global intelligent transformation through its PTM business model and a dual-brand lineup of innovative products.

About Longsys

Longsys is a globally leading semiconductor memory brand founded in 1999. As an innovative memory solution manufacturer that integrates R&D, design, packaging and testing, manufacturing, and sales services, Longsys upholds the corporate vision of “Everything for memory.” With memory technology innovation at its core, Longsys provides high-end, flexible, and efficient full-stack customized services to global customers. For more information please visit https://www.longsys.com/, and follow Longsys on LinkedInFacebook and Twitter.

Photo – https://mma.prnewswire.com/media/2557248/Longsys_electronica_2024.jpg
Photo – https://mma.prnewswire.com/media/2557249/Longsys_s_Automotive_LPDDR4x_received_Best_in_Show_award.jpg

View original content:https://www.prnewswire.com/news-releases/longsys-unveils-new-products-at-electronica-munich-ptm-business-model-drives-innovation-in-automotive-storage-302305270.html

Continue Reading

Technology

Petnow Wins Korean-German Innovation Award, Aims Nordic Expansion at SLUSH 2024

Published

on

By

South Korean Pet ID Leader Recognized for AI Solutions, Eyes Partnerships in Finland

SEOUL, South Korea, Nov. 14, 2024 /PRNewswire/ — Petnow Inc., the South Korean provider of pet biometric identification and ‘PetWayHome’ location-based lost pet recovery service, announced that the company was chosen as the Honoree of the Innovation in Business Award. Held by the Korean-German Chamber of Commerce and Industry, the 10th KGCCI Innovation Awards is officially sponsored by the Korean Ministry of Trade, Industry and Energy and the Ministry of SMEs and Startups. Petnow was awarded for its efforts to pioneer the pet tech industry while pursuing public interests with its AI technology.

Founder and CEO of Petnow Inc., Dr. Jesse Lim, stated “We have been proving our competitiveness by winning the Fresh Ideas Contest at Interzoo 2024, while expanding our client base in Germany by participating in the Global Market Expansion Program assisted by Start2Group in Munich.”. He also highlighted that “We are also looking forward to connecting with potential partners, namely various city municipalities, pet insurers, and vet clinic software providers at the upcoming SLUSH event in Finland.”

Supported by Seoul Business Agency, Petnow will be participating in SLUSH and its community side event ‘K-Startup Demo Day with Vertical’ that will be held at Maria01 (Lars Sonck Venue) to pitch on Nov 18. Any pet industry players interested in connecting with Petnow in person are welcome to pre-register at the Lyyti website for participation.

About Petnow Inc.: Developed to provide an animal welfare-friendly pet identification measure, the Petnow app has been distributed in 19 countries located in Europe, Asia, and North America to recognize dogs by scanning their noses that are unique like fingerprints. It is also the first app to support cat facial recognition that can identify two kinds of most popular pet animals. Since winning the Best of Innovation at CES 2022, the company has been securing SuperZoo 2023 NPS Award and iF Design Award 2024. The company has been collaborating with insurers, government departments, and licensees globally to actively add its application utilizing the technology.

Photo – https://mma.prnewswire.com/media/2555222/PetNow.jpg

View original content:https://www.prnewswire.co.uk/news-releases/petnow-wins-korean-german-innovation-award-aims-nordic-expansion-at-slush-2024-302302722.html

Continue Reading

Trending