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Vehicle-To-Everything (V2X) Communication System Market size is set to grow by USD 23.40 billion from 2024-2028, Growing demand for smart road infrastructure boost the market, Technavio

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NEW YORK, Aug. 6, 2024 /PRNewswire/ — The global vehicle-to-everything (V2X) communication system market size is estimated to grow by USD 23.40 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  22.79%  during the forecast period. Growing demand for smart road infrastructure is driving market growth, with a trend towards advent of smart cities. However, need to maintain compliance with stringent standards  poses a challenge. Key market players include Aptiv Plc, Autotalks Ltd., BMW AG, Capgemini Service SAS, Cisco Systems Inc., Cohda Wireless Pty. Ltd., Continental AG, DENSO Corp., General Motors Co., Huawei Technologies Co. Ltd., Infineon Technologies AG, Kapsch TrafficCom AG, Lear Corp., Neusoft Corp., NXP Semiconductors NV, Qualcomm Inc., Robert Bosch GmbH, Samsung Electronics Co. Ltd., STMicroelectronics International N.V., and Unex Technology Corp..

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

Vehicle-To-Everything (V2X) Communication System Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 22.79%

Market growth 2024-2028

USD 23404.6 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

19.3

Regional analysis

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

Performing market contribution

APAC at 31%

Key countries

US, China, Germany, Japan, and South Korea

Key companies profiled

Aptiv Plc, Autotalks Ltd., BMW AG, Capgemini Service SAS, Cisco Systems Inc., Cohda Wireless Pty. Ltd., Continental AG, DENSO Corp., General Motors Co., Huawei Technologies Co. Ltd., Infineon Technologies AG, Kapsch TrafficCom AG, Lear Corp., Neusoft Corp., NXP Semiconductors NV, Qualcomm Inc., Robert Bosch GmbH, Samsung Electronics Co. Ltd., STMicroelectronics International N.V., and Unex Technology Corp.

Market Driver

Smart cities are digital innovations that connect various devices to enhance communication, improve performance, and reduce costs. Examples of smart city advancements include traffic control, home monitoring, e-toll, waste management, and water management. The number of smart cities is projected to increase significantly, with Saudi Arabia planning to develop 16 smart cities by 2030 as part of its Vision 2030 initiatives. V2X communication systems will be essential in enabling vehicles to communicate with various entities in these cities. The data generated from smart devices will be analyzed to improve business quality and innovate for a better future. Companies are focusing on installing communication infrastructure in smart cities to provide high-speed connectivity and asynchronous traffic shaping. Technology has evolved to include wearable devices, which function as data collection devices for analytics in the transportation sector. The incorporation of advanced technologies, such as V2X communication systems and wearable devices, within smart cities is expected to drive market growth during the forecast period. 

The V2X market is surging, driven by the growing awareness of connected vehicles and the need for faster, more efficient traffic management. The European Union (EU) is leading the charge, with Cellular V2X technology at the forefront. Automakers and OEMs are investing heavily in V2X, integrating it into electric vehicles and advanced driver assistance systems (ADAS). Smart parking, GPS-based location services, and predictive vehicle maintenance are just some of the benefits for vehicle owners. V2X technology also enhances automotive performance and provides real-time weather information. Infrastructure and road users alike reap the rewards of V2X, with intelligent transport systems, sensors, cameras, and data recorders enabling collision avoidance, traffic updates, and road condition alerts. However, challenges remain, including cybersecurity threats from hackers and network attacking gateways. Cloud-based networks and hardware solutions are being developed to counteract these risks. The future of the V2X market is bright, with autonomous vehicles, sustainable mobility solutions, and C-ITS set to revolutionize the automotive sector for consumers and connectivity infrastructure on highways in emerging economies. Companies like Cohda are leading the way in V2X innovation. 

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Market Challenges

Vehicle-To-Everything (V2X) communication systems face regulatory challenges due to stringent government regulations that govern manufacturing, distribution, marketing, and sales. For instance, IEEE 802.11p standards recommend specific features and technology for V2X communication systems. New standards continue to emerge, requiring manufacturers to comply with periodic inspections under the Quality System Regulation Act. Additionally, V2X communication systems in autonomous vehicles must meet Automotive Safety Integrity Level (ASIL) requirements, with suppliers adhering to International Organization for Standardization (ISO) 26262 standards. Maintaining these standards and updating offerings to keep pace with network technology increases manufacturing costs, potentially hindering market growth during the forecast period.The Vehicle-To-Everything (V2X) communication system market is rapidly growing as the transportation industry seeks to improve road safety and traffic efficiency. However, implementing V2X technology faces challenges. Vision-based systems, Wi-Fi, and cellular technology each have their limitations in adverse conditions. On-Board Units (OBU) and Roadside Units (RSU) must communicate effectively to enable Automated driver assistance, Vehicle-to-Vehicle (V2V), Vehicle-to-Pedestrian (V2P), Vehicle-to-Network (V2N), and Vehicle-to-Infrastructure (V2I) communication. Road networks, C-Road Platform, and various European programs like 5G-PPP, 5G Mobix, 5G MED, 5GCroCo, and 5G-ROUTES, are crucial for the development of advanced communication systems. Companies like Mercedes-Benz, Hamburg Port Authority, NXP Semiconductors, Siemens Mobility, Technolution, and truck and vehicle manufacturers are investing in V2X technology to reduce road traffic accidents, fatalities, non-fatal injuries, and disabilities. Traffic lights, parking spaces, trucks, vehicles, pedestrians, and energy savings are all benefiting from this innovative technology. Hazards and vehicular data are shared in real-time to enhance road safety and optimize traffic flow.

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Segment Overview 

This vehicle-to-everything (v2x) communication system market report extensively covers market segmentation by  

Connectivity 1.1 Cellular1.2 DSRCVehicle Type2.1 Passenger2.2 CommercialGeography 3.1 Europe3.2 North America3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Cellular-  The Cellular Vehicle-to-Everything (C-V2X) system represents a unified connectivity platform designed to facilitate low-latency communication between vehicles, infrastructure, and vulnerable road users. C-V2X, which operates in the 5.9 GHz frequency range, offers non-line-of-sight awareness and enhanced predictability for improved road safety and autonomous driving. This technology enables vehicles to interact with other vehicles, pedestrians, and cyclists without relying on a cellular network. By implementing C-V2X and wireless technologies in transportation, significant benefits can be reaped, such as reduced traffic accidents, improved trip planning, mode selection, and traffic efficiency, leading to less fuel consumption. Real-time route assistance, optimized vehicle dynamics, and personal mobility services are just a few advantages of C-V2X. The technology uses 4G LTE or 5G mobile cellular communication that is 3GPP standardized. The Federal Communications Commission in the US has allocated 20 MHz and potentially 30 MHz of the 5.9 GHz range for C-V2X. The future of C-V2X is promising, as it will revolutionize the way we engage with our cars and communicate with one another, ultimately leading to a more effective and efficient transportation system. The expanding 5G infrastructure in both developed and developing countries is expected to fuel the growth of the C-V2X market during the forecast period.

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

Learn and explore more about Technavio’s in-depth research reports

The global Near Autonomous Passenger Car Market is experiencing significant growth due to advancements in AI and sensor technologies. Major players are investing in R&D to enhance vehicle safety and efficiency. The market is segmented by technology, application, and region, with North America and Europe leading in adoption rates. Increasing consumer demand for advanced driver-assistance systems (ADAS) and semi-autonomous features is driving market expansion. Key players include Tesla, Audi, and BMW, who are pioneering innovations in this sector.

Research Analysis

Vehicle-to-Everything (V2X) communication systems enable vehicles to exchange information with other vehicles, parking spaces, traffic lights, pedestrians, and infrastructure in real-time. This technology enhances road safety by providing advanced warning systems for potential collisions and traffic congestion. V2X also promotes energy savings and traffic efficiency by optimizing vehicle flow and reducing idling time at traffic lights. Sensors, cameras, and data recorders are essential hardware components of V2X systems, while predictive vehicle maintenance and automotive performance enhancement are specific tasks they can perform. V2X communication systems operate based on fundamental standards such as SAE JS2735 and use various operating systems for data processing. In high-traffic environments, V2X systems can significantly improve safety and efficiency, reducing the number of road traffic accidents and improving overall traffic flow.

Market Research Overview

The V2X communication system market is a rapidly growing sector that enables vehicles to communicate with parking spaces, traffic lights, pedestrians, and other road users in real-time. This advanced communication technology enhances road safety by providing safety features such as collision avoidance, hazard warnings, and traffic updates. V2X also promotes energy savings and traffic efficiency by optimizing traffic flow and reducing road traffic accidents, fatalities, non-fatal injuries, and disabilities. V2X systems utilize various technologies including Cellular V2X, DSRC, IEEE 802, ITS-G5, and IEEE 1609. Automakers and OEMs are integrating V2X technology into electric vehicles, autonomous vehicles, and commercial vehicles for predictive vehicle maintenance, automotive performance enhancement, and platooning. The European Union (EU) and emerging economies are investing in V2X infrastructure to support sustainable mobility solutions and improve connectivity infrastructure on highways and in rural areas. However, security concerns such as hackers and network attacking gateways pose challenges to the V2X market. The market also includes various stakeholders such as traffic operators, government regulatory frameworks, telecommunications regulations, and third-party logistics companies. V2X technology relies on various sensors, cameras, data recorders, and predictive analytics to provide real-time information to road users. The market is expected to grow significantly in the coming years due to the increasing demand for intelligent transport systems, weather information, and C-ITS services.

Table of Contents:

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

ConnectivityCellularDSRCVehicle TypePassengerCommercialGeographyEuropeNorth AmericaAPACSouth 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/

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Competition Bureau publishes report on Canada’s Competition Summit 2024

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GATINEAU, QC, Nov. 14, 2024 /CNW/ – Today, the Competition Bureau published a report highlighting the key takeaways from “Canada’s Competition Summit 2024: Market Dynamics in the AI Era,” which took place in Ottawa and virtually on September 16, 2024.

The event featured experts from domestic and international competition authorities, regulatory bodies, businesses and non-governmental organizations, as well as the legal and academic communities. The discussions focused on:

the current AI landscape;the impacts of AI on competition across markets; and,international and domestic regulatory approaches to AI.

The report published today summarizes 5 key takeaways from these discussions:

AI is having an impact on competition across sectors of the economy, presenting both opportunities and risks.Regulatory frameworks need to adapt to address the unique challenges posed by AI.International cooperation is crucial for effective regulation and enforcement in AI-driven markets.There is a need for transparency in AI systems to ensure accountability and consumer trust.The role of big tech in AI development is contentious.

The Bureau thanks all attendees, panelists and speakers, who helped advance the conversation on these emerging issues related to AI. We look forward to continuing to discuss competition policy issues and opportunities at Competition Summits in the years to come.

Quotes

“As Canada’s competition watchdog, the Competition Bureau needs to be at the forefront of AI and understand its impact on the competitive landscape. I am thankful for the important contributions from our panelists and speakers at this year’s Summit, as they will help us continue to build our understanding of AI’s impacts on competition.”

Matthew Boswell,
Commissioner of Competition

Quick facts

This year’s event was the fifth annual edition of Canada’s Competition Summit. Previous Summits covered digital enforcement (2020), competition and growth (2021), green growth (2022), and whole-of-government approaches to policy (2024).Over 500 participants from Canada and abroad attended the 2024 Summit.This year’s Summit is part of our ongoing work to better understand AI, how it might affect competition, and how we can address potential anticompetitive harm from AI and promote competition in AI markets. This work also includes cross-governmental collaboration through the Canadian Digital Regulators Forum and a consultation on the Discussion Paper on Artificial intelligence and competition earlier in 2024.In keeping with the theme of this year’s Summit, this report was drafted using a combination of human effort and AI technology. This is a first for the Bureau. We used an artificial intelligence program to summarize the discussions held at Canada’s Competition Summit 2024 and to develop the first draft of these key takeaways. The final content was fact-checked and quality-controlled by Bureau personnel.

Related products

Report on Summit 2024: Competition in the AI EraCanada’s Competition SummitCompetition Bureau to host summit on competition and artificial intelligence this SeptemberCanada’s Competition Summit 2024: Competition Bureau releases details about panels and expert participants

Associated links

Exploring policy approaches to unlock competition (2023)The Competition and Green Growth Summit (2022)The Competition and Growth Summit (2021)Digital Enforcement Summit (2020)Artificial intelligence and competition: Discussion paper (2024)Canadian Digital Regulators Forum

General information:

Request for information | Complaint form

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The Competition Bureau is an independent law enforcement agency that protects and promotes competition for the benefit of Canadian consumers and businesses. Competition drives lower prices and innovation while fueling economic growth.

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Shipt Saves the Season with Unbeatable Convenience, Exclusive Promotions, and Membership Savings

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Get everything from gifts to hosting essentials reliably delivered via Shipt

BIRMINGHAM, Ala., Nov. 14, 2024 /PRNewswire/ — This holiday season, Shipt is spreading cheer with delightful same-day delivery, unmatched deals, and everything customers need all season long. From hosting family dinners to searching for the perfect gifts to grabbing last-minute holiday essentials and toasting to the new year*, Shipt helps ease the stress with exclusive promotions and 50% off its annual membership for a limited time.

To sweeten holiday shopping, Shipt is launching Season of Savings, an annual event packed with discounts and surprises on the products customers want all season long. Plus, Shipt has added over 2,000 new retail locations nationwide this year, including Ulta Beauty at Target, The Fresh Market, Lowe’s, and local favorites like Giant Eagle and Save Mart, giving members even more curated options. These new additions join favorites like Target, CVS, and Petsmart, as well as beloved local grocers.

SHIPT MEMBERSHIP: CONVENIENCE MEETS HOLIDAY MAGIC
Shipt’s $49 annual membership promotion (regularly $99) is now available through January 4, 2025, making it easier than ever to enjoy same-day delivery from your favorite stores. With an annual membership, customers get unlimited same-day delivery on orders over $35 and exclusive savings, and a range of members-only perks.

DEALS ACROSS ALL HOLIDAY NEEDS

In addition to the membership promotion, Shipt’s Season of Savings also features incredible deals across a wide variety of popular holiday categories, including:

Season-Long Deals (November 1-January 1)

$15 off your order of $60 or more with code HOLIDAY15**Half-off annual membership $49 (reg. $99) with code SHIPTGIFT

Thanksgiving Deals

November 10-16, at Target and all grocery stores***:Spend $25, get $10 on household essentialsBuy one, get one 50% off on bath and body productsBuy one, get one 30% off on cough, cold, and flu, pain and fever, vitamins and supplements30% off kitchen and diningSpend $20, save $5 on baby essentials30% off pet essentials10% off turkeyNovember 17-23: $10 off order of $50+ for those with Shipt student membershipsNovember 25-27: spend $35, save $10 on on last-minute Thanksgiving essentials at all grocery stores and Target****

December Holiday Deals

December 1-14: 25% off orders of $40 or more from Ulta Beauty at Target, CVS, Walgreens, PetSmart, Petco, Lowes, Carters, Office Depot, and Office Max (max savings of $10)*****December 8-24: 20% off top gifting categories at Target + Meijer (Shipt members only)******

ALL-NEW GIFT CARD EXPERIENCE
Not sure what to give that special someone? A Shipt gift card is the perfect gift!

A Shipt gift card never expires, and with an all-new digital facelift, including multiple card designs and e-gifting options, a Shipt gift card lasts beyond the holiday season. And even better, take advantage of the season-long 50% off membership offer when purchasing an annual membership gift card. Terms and conditions apply. Please check out shipt.com/gift for more information.

SHIPT TO THE RESCUE: HOW IT WORKS
No matter how hectic the holiday calendar gets, Shipt makes shopping stress-free:

Download the Shipt app or visit Shipt.com to sign up for a membership or take advantage of a 14-day free trial**. Target Circle 360 members can enable access to the Shipt marketplace by visiting shipt.com/target-circle-360. Choose the store you wish to order from.Build your shopping list with a wide range of categories, from fresh groceries to festive decorations.Select a convenient delivery window and a trusted shopper with Shipt will shop your order, communicating with you about out-of-stocks, relevant substitutions and where they are in the shopping process (option to select back-ups for products out of stock ahead of time).

To learn more about Shipt’s holiday offers and start saving today, visit www.shipt.com or download the Shipt app.

About Shipt
Shipt is a retail tech company that connects people to reliable, high-quality delivery with a personal touch. Through the power of technology, Shipt connects customers to the things they want from the stores they love, workers to new earning opportunities, and retail businesses to more satisfied customers. Headquartered in Birmingham, Alabama, Shipt brings people the flexible solutions they need with the above-and-beyond service they expect. Shipt is an independently operated subsidiary of Target Corp. and is available to 80% of the U.S. population. For more information, please visit Shipt’s Newsroom.

*States with alcohol delivery availability: Alabama, Arizona, California, Connecticut, District of Columbia, Florida, Hawaii, Illinois, Kentucky, Massachusetts, Michigan, Minnesota, Missouri, North Carolina, Nebraska, Ohio, Tennessee, Texas, Georgia, Iowa, Idaho and Mississippi

**Offer valid for new customers only, returning customers are ineligible. 14 day trial will renew at the applicable membership rate at the end of the trial. Cancellation available free of charge anytime during trial. Offer is subject to Shipt Promotion Terms and Conditions. Deliveries under $35 with a membership will incur a $7 fee. All orders with alcohol (where available) may incur a $7 alcohol fee. Service fees may apply and will vary by retailer and location. See Terms of Service

***Offer expires 11/16/2024. Discount available at select retailers and applies to select items. Discount applied automatically at check out for qualifying orders. Limit one per order. Promotion is subject to Terms and Conditions.

****Purchase of qualifying products at select retailers of $35 or more must be placed by 11/27/2024 at 11:59 p.m. HT to qualify for $10 off, which will automatically apply to qualifying order at checkout. Limit 1 credit per member. Offer is subject to Shipt Promotional Terms and Conditions.

*****Store availability varies by location. Offer valid 12/1/24 through 12/14/24. Carter’s, CVS, Lowe’s, Office Depot OfficeMax, PetSmart, Petco, Walgreens, or Ulta Beauty at Target order of $40 or more must be placed by 12/14/24 at 11:59 p.m. HT to qualify for max savings of $10, which will automatically apply to qualifying order at checkout. Offer not valid for orders containing alcohol items. Limit 1 credit per member. Offer is subject to Shipt Promotional Terms and Conditions.

******Purchase of qualifying products at Target or Meijer must be placed by 12/24/2024 at 11:59 p.m. HT to qualify for 20% off, which will automatically apply to a qualifying order at checkout. Limit 1 credit per member. Offer is subject to Shipt Promotional Terms and Conditions.

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Kearney Launches Geopolitical Service Line to Give Executives New “One-Stop-Shop” for Navigating Elevated Global Uncertainty

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WASHINGTON, Nov. 14, 2024 /PRNewswire/ — Kearney, a leading global management consulting firm, today announced the launch of its newest offering, aimed at helping clients steer their companies through our ever-changing world. Kearney’s Geopolitical Dynamics provides executives with a holistic solution to navigate today’s elevated instability and its impact on business.

In a new era marked by persistent economic uncertainty, regulatory shifts, great power competition, and corresponding escalations, executives face an unprecedented volume of challenges and new opportunities. A recent Kearney assessment determined that fewer than 20% of Fortune 500 companies are ready for this “new era,” defined by heightened geopolitical and economic volatility, a shift from globalization to regionalization, and the emergence of artificial intelligence.

While traditional geopolitical advisory models served clients well in a more stable environment, today’s persistent uncertainty calls for a new approach. Kearney is stepping up with a comprehensive, end-to-end solution that enables executives to proactively navigate complexity and transform it into a catalyst for opportunity. Geopolitical Dynamics offers clients a path to accelerate the development of their in-house capabilities to navigate the implications for their strategy, operations, and people, mitigating risks and capitalizing on emerging trends along the way.

“After 40 years of operating in a globalized landscape, executives now face the urgent challenge of building internal capabilities to navigate heightened geopolitical instability. They must address immediate threats to business while managing long-term planning of markets, supply chains, and the broader enterprise,” said Drew DeLong, Global Lead of Geopolitical Dynamics at Kearney. “This new service is designed to give executives a one-stop shop to navigate with confidence and stay ahead.”

Geopolitical Dynamics offers a comprehensive suite of services that covers every stage of geopolitical management:

Granular Business Intelligence: Anticipating the “what’s next” and “what’s to come” at a granular level in partnership with an expansive global network of intelligence, government, and industrial partners.

Executive Priority Setting: Aligning executive teams and boards around where and why priorities should be set based on all readily available intelligence and business-specific nuances using tabletop exercises, granular scenario planning, and targeted diligences.

Operational Execution: Mobilizing supply chains and enterprise footprints to respond to immediate and long-term needs (including contingencies), leveraging nearly 100 years of Kearney’s heritage and excellence in strategic operations.

Geopolitical Org Ownership: Defining who and how geopolitics are owned and managed within the business today—at the board, CEO staff, and management levels—including the charting of Geopolitical Units and deploying Government Affairs to drive business outcomes through targeted government engagement that drives competitive industrial strategy.

This approach provides a simple but powerful solution to anticipate, plan, and respond faster to emerging threats and opportunities with clarity, speed, and ownership while minimizing disruption to the business—something that is critical to the executive agenda today.

“Boards and leadership teams can no longer afford to treat geopolitical matters in isolation from the standard course of business,” noted Colette LaForce, independent Board Director, Kearney advisor, and former CXO of Dell Services and AMD. “The C-suite needs a streamlined solution that cuts through generic intelligence, aligns our teams, and enables rapid response. Kearney has built a model that is designed to do just that for organizations of all sizes and in all sectors.”

This offering will draw on Kearney’s expansive capabilities to offer executives truly differentiated insights: product design analysis from PERLab, on-the-ground data from reshoring experts, market insights from the Consumer Institute, detailed trends from the Supply Chain Institute, and macroeconomic forecasts from the Global Business Policy Council.

For more information about how Kearney’s Geopolitical Dynamics capability will help you navigate the road ahead, please visit Geopolitical Dynamics or contact one of our experts listed below.

Drew DeLongDrew.Delong@kearney.com

Doug MehlDoug.Mehl@kearney.com

Ben T. Smith, IVBen.Smith@kearney.com

About Kearney

Kearney is a leading global management consulting firm. For nearly 100 years, we have been a trusted advisor to C-suites, government bodies, and nonprofit organizations. Our people make us who we are. Driven to be the difference between a big idea and making it happen, we work alongside our clients to regenerate their businesses to create a future that works for everyone. To learn more about Kearney, please visit www.kearney.com.

Press contact 

US media contact:
Meir Kahtan
MKPR
mkahtan@rcn.com
+1 917-864-0800

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