Technology
AI is Redefining the Light Rail Market, Revenue to Grow by USD 3.74 Billion from 2024-2028 Due to Urban Expansion – Technavio Report
Published
2 months agoon
By
NEW YORK, Sept. 13, 2024 /PRNewswire/ — Report with market evolution powered by AI- The global light rail market size is estimated to grow by USD 3.74 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 4.1% during the forecast period. Rapid growth of urban areas is driving market growth, with a trend towards high investment by governments in light rail. However, volatility in prices of raw materials poses a challenge. Key market players include ALSTOM SA, CRRC Corp. Ltd., General Electric Co., Hitachi Ltd., Hyundai Heavy Industries Group, Kawasaki Heavy Industries Ltd., Kintetsu Group Holdings Co. Ltd., Knorr Bremse AG, Mitsubishi Heavy Industries Ltd., Mott MacDonald, Parsons Corp., Pesa Group, Samvardhana Motherson International Ltd., Schunk GmbH, Siemens AG, Stadler Rail Ag, SYSTRA SA, Thales Group, WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORP., and WSP Global Inc..
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Forecast period
2024-2028
Base Year
2023
Historic Data
2018 – 2022
Segment Covered
Type (High capacity light rail and Low capacity light rail), Application (Intra-city transport and Inter-city transport), and Geography (Europe, APAC, North America, Middle East and Africa, and South America)
Region Covered
Europe, APAC, North America, Middle East and Africa, and South America
Key companies profiled
ALSTOM SA, CRRC Corp. Ltd., General Electric Co., Hitachi Ltd., Hyundai Heavy Industries Group, Kawasaki Heavy Industries Ltd., Kintetsu Group Holdings Co. Ltd., Knorr Bremse AG, Mitsubishi Heavy Industries Ltd., Mott MacDonald, Parsons Corp., Pesa Group, Samvardhana Motherson International Ltd., Schunk GmbH, Siemens AG, Stadler Rail Ag, SYSTRA SA, Thales Group, WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORP., and WSP Global Inc.
Key Market Trends Fueling Growth
The light rail market is experiencing significant growth due to increased government investment in this sustainable and efficient public transit solution. With urban populations growing and cities facing congestion and environmental concerns, governments are turning to light rail as an answer. In May 2023, the Biden-Harris administration allocated over USD700 million in grants to modernize six US transit systems’ passenger railcars. This funding not only expands existing networks but also initiates new light rail projects in cities previously relying on buses or personal vehicles. The influx of public funds stimulates demand for rail infrastructure, rolling stock, and related technologies, creating a positive ripple effect. Additionally, these projects are often part of broader urban renewal initiatives, fostering economic development along rail corridors. The commitment to light rail also aligns with global efforts to decrease carbon emissions and enhance urban air quality. As a result, the light rail market is thriving, with manufacturers, construction firms, and technology providers all benefiting from this trend. Government investment is predicted to continue fueling market expansion throughout the forecast period.
The Light Rail Market is experiencing significant growth due to increasing demand for energy-efficient, sustainable transportation in urban areas. Public transport is becoming a priority as traffic congestion continues to be a challenge. Refurbishment of existing rolling stock, including axles, wheelsets, traction motors, pantographs, and passenger information systems, is driving industrial activity. Mining and freight industries also utilize light rail for transportation. Shared mobility solutions are trending, with higher capacity, low-floor vehicles offering a better passenger experience. Sustainable mobility initiatives, such as electrification and carbon emissions reduction, are key factors. Smart technologies like mobile ticketing, real-time information, IoT sensors, automatic collision avoidance, and video surveillance enhance the passenger experience. Light rail vehicles serve both passenger and freight transportation on dedicated tracks, making them a viable alternative to heavy rail systems and metro systems.
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Market Challenges
The global light rail market faces challenges due to the volatility in raw material prices, particularly for essential components like steel, aluminum, and cast iron. This price instability can negatively impact market growth as it increases production costs, which may be passed on to consumers. Raw material prices fluctuate based on market demand and supply, currency fluctuations, and geopolitical tensions. For instance, the price of iron ore, a key component, has risen due to high demand and supply shortages, reaching approximately USD120 per dry metric ton unit (dmtu) in May 2024, up from approximately USD104 per dmtu in May 2023. The ongoing conflict between Russia and Ukraine has caused aluminum prices to grow, adding to the market uncertainty. These price fluctuations directly impact the cost of light rails and affect the profit margins of stakeholders in the value chain. Import and export tariffs also vary by region, complicating the pricing structure of raw materials and posing challenges to the growth of the global light rail market.The Light Rail Market is experiencing significant growth in urban transportation, particularly for passenger services. Challenges include supplying both lower and higher capacity vehicles for different demand levels. Dedicated tracks are essential for efficient operation, but infrastructure costs can be high. Sustainable transportation is a priority, with electrification and carbon emissions reduction key considerations. Rapid transit via light rail vehicles offers a more sustainable alternative to heavy rail systems and freight transportation. Urban areas benefit from improved public transportation, with a focus on passenger experience. Mobile ticketing, real-time information, and smart technologies enhance the user experience. IoT sensors, automatic collision avoidance, and video surveillance contribute to safety and reliability. Light rail vehicles come in various configurations, including low-floor and high-floor designs, for easy access and interconnecting cities. The market faces competition from other transportation services, including metro systems and long-distance routes. The market requires continuous innovation, including advancements in passenger capacity, electrification, and smart technologies to meet the evolving needs of urban transportation. Rail supply must adapt to these demands while maintaining cost-effectiveness.
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Segment Overview
This light rail market report extensively covers market segmentation by
Type 1.1 High capacity light rail1.2 Low capacity light railApplication 2.1 Intra-city transport2.2 Inter-city transportGeography 3.1 Europe3.2 APAC3.3 North America3.4 Middle East and Africa3.5 South America
1.1 High capacity light rail- The light rail market is a significant segment of the public transportation industry. It offers an efficient, cost-effective, and eco-friendly alternative to traditional bus and car commuting. Light rail systems connect urban areas, reducing traffic congestion and promoting sustainable urban development. These systems are reliable, frequent, and convenient, making them a popular choice for commuters. The market is expected to grow due to increasing urbanization and government investments in public transportation infrastructure. Companies like Bombardier, Siemens, and Alstom dominate the market with their innovative solutions and strong customer base.
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Research Analysis
The light rail market is experiencing significant growth as public transport becomes an increasingly important solution to traffic congestion in urban areas. Light rail systems offer energy-efficient transport options, reducing carbon emissions and contributing to sustainable urban transportation. Industrial activity and mining sectors are major consumers of light rail transportation services due to the need for heavy cargo movement. Refurbishment of existing rolling stock is a key trend in the market, extending the life of existing assets and reducing the need for new purchases. Light rail vehicles come in various capacities, including lower and higher floor models, catering to inner city and interconnecting cities’ transportation needs. Components such as pantographs, axles, wheelsets, traction motors, passenger information systems, and air conditioning systems are essential for the efficient operation of light rail vehicles. Dedicated tracks distinguish light rail from other transportation modes, providing a smoother and faster ride. Metro systems and heavy rail systems are different from light rail, with the latter offering more flexibility in route design and lower infrastructure costs. Shared mobility solutions are also integrating with light rail systems, enhancing urban transportation options and promoting sustainable transportation.
Market Research Overview
The Light Rail Market is experiencing significant growth due to the increasing demand for energy-efficient and sustainable transportation solutions in urban areas. Traffic congestion is a major challenge in many cities, making public transport an attractive alternative. Light rail systems, also known as trams or streetcars, offer a viable solution with their dedicated tracks and ability to carry both passengers and freight. Refurbishment of existing rolling stock is a key industrial activity in the light rail market. Components such as pantographs, axles, wheelsets, traction motors, passenger information systems, and air conditioning systems are regularly upgraded to improve efficiency and passenger experience. The light rail market caters to both passenger and freight transportation needs. Rapid transit systems, metro systems, and heavy rail systems are all part of this market. Sustainable transportation is a major focus, with a reduction in carbon emissions being a key goal. Smart technologies such as mobile ticketing, real-time information, IoT sensors, automatic collision avoidance, and video surveillance are increasingly being integrated into light rail vehicles to enhance the passenger experience. The market also offers both lower and higher capacity vehicles, as well as low-floor and high-floor options, to cater to different transportation demands. The light rail market serves both inner city and interconnecting cities, making it an essential part of urban transportation infrastructure. The market is expected to continue growing as the demand for transportation services increases and the need for sustainable mobility solutions becomes more pressing. Rail supply companies are investing heavily in research and development to meet the evolving needs of the market.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
TypeHigh Capacity Light RailLow Capacity Light RailApplicationIntra-city TransportInter-city TransportGeographyEuropeAPACNorth AmericaMiddle East And AfricaSouth America
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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SOURCE Technavio
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Technology
Global Times: Xi’s letter to lecturers in Shanghai inspires silver generation to contribute to city building
Published
51 minutes agoon
November 14, 2024By
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
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SOURCE Global Times
Technology
Longsys Unveils New Products at Electronica Munich, PTM Business Model Drives Innovation in Automotive Storage
Published
51 minutes agoon
November 14, 2024By
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
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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 LinkedIn, Facebook and Twitter.
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Petnow Wins Korean-German Innovation Award, Aims Nordic Expansion at SLUSH 2024
Published
51 minutes agoon
November 14, 2024By
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.
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View original content:https://www.prnewswire.co.uk/news-releases/petnow-wins-korean-german-innovation-award-aims-nordic-expansion-at-slush-2024-302302722.html
Global Times: Xi’s letter to lecturers in Shanghai inspires silver generation to contribute to city building
Longsys Unveils New Products at Electronica Munich, PTM Business Model Drives Innovation in Automotive Storage
Petnow Wins Korean-German Innovation Award, Aims Nordic Expansion at SLUSH 2024
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