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Fleet Management Market to grow by USD 52.23 Billion (2025-2029), driven by e-commerce and last-mile delivery, Report on how AI is redefining the landscape – Technavio

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NEW YORK, Jan. 9, 2025 /PRNewswire/ — Report with market evolution powered by AI – The global fleet management market size is estimated to grow by USD 52.23 billion from 2025-2029, according to Technavio. The market is estimated to grow at a CAGR of  15.6%  during the forecast period. Rise in e-commerce and last-mile delivery is driving market growth, with a trend towards increasing adoption of telematics and autonomous vehicles. However, issues in gps connectivity  poses a challenge. Key market players include AT and T Inc., Avrios International AG, Bridgestone Corp., Chevin Fleet Solutions, Donlen Corp., Element Fleet Management Corp., Fleetio, Geotab Inc., GPS Insight, GURTAM, Holman Inc., MiX Telematics Ltd., Motive Technologies Inc., NetraDyne Inc., Samsara Inc., Solera Holdings LLC, JSC Teltonika, TomTom NV, Trimble Inc., Verizon Communications Inc., Via Transportation Inc., Vontier Corp., Wheels, Inseego, Verra Mobility, Teletrac Navman, Orbcomm, Zebra Technologies, Michelin, ClearpathGPS, Fleetcomplete, Automile, Fleetroot, Ruptela, Freeway Fleet.

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View Free Sample PDF

Fleet Management Market Scope

Report Coverage

Details

Base year

2024

Historic period

2019 – 2023

Forecast period

2025-2029

Growth momentum & CAGR

Accelerate at a CAGR of 15.6%

Market growth 2025-2029

USD 52233.3 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

13.5

Regional analysis

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

Performing market contribution

North America at 30%

Key countries

US, China, Germany, UK, Japan, Canada, India, South Korea, France, and Italy

Key companies profiled

AT and T Inc., Avrios International AG, Bridgestone Corp., Chevin Fleet Solutions, Donlen Corp., Element Fleet Management Corp., Fleetio, Geotab Inc., GPS Insight, GURTAM, Holman Inc., MiX Telematics Ltd., Motive Technologies Inc., NetraDyne Inc., Samsara Inc., Solera Holdings LLC, JSC Teltonika, TomTom NV, Trimble Inc., Verizon Communications Inc., Via Transportation Inc., Vontier Corp., Wheels, Inseego, Verra Mobility, Teletrac Navman, Orbcomm, Zebra Technologies, Michelin, ClearpathGPS, Fleetcomplete, Automile, Fleetroot, Ruptela, Freeway Fleet.

Market Driver

Fleet management is a crucial aspect of transportation and logistics industries, helping fleet owners and managers optimize operational efficiency and reduce overhead costs. Trends in fleet management include routing and navigation solutions using GPS connectivity and services like Google Maps and satellite technology to overcome natural barriers. Fleet performance and fuel costs are key concerns, with fleet management solutions offering real-time visibility into vehicle location, driver behavior, and performance. Driver safety is another priority, with tools for scheduling, geofencing, and advanced routing to improve safety and reduce accidents. Fleet management systems also provide maintenance management, fuel management, and driver management features. Commercial vehicles, from light to heavy, are being transformed through connected vehicles, autonomous fleets, and fleet management software. Fleet management market growth is driven by the logistics industry’s need for increased efficiency and safety. Fleet size, logistic providers, and transportation enterprises all benefit from fleet management tools, which include hardware, software, and services. Asset management systems and solutions are also essential for financial tracking and inventory storage. Federal rules, such as electronic logging and the use of electronic logging devices, are shaping the fleet management landscape. The deployment of 5G and the Internet of Things is further revolutionizing fleet management, enabling real-time data processing and automation. Vehicle leasing companies, allied carriers, shippers, and freight and logistics providers are all adopting fleet management solutions to streamline their operations and stay competitive during the holiday shopping season and beyond. 

The telematics industry took off with the advent of 2G telecommunication systems and GPS-based positioning, enabling the sharing of vehicle location details. Commercial vehicles now mandatorily use GPS navigation systems. The rise in autonomous vehicle investments will boost the adoption of sensors, connectivity devices, and network components. The increasing number of electronic control units, sensors, and wiring in autonomous vehicles necessitates a substantial amount of semiconductor components like sensors and integrated circuits (ICs). Self-driving cars rely on information from a connected car network and IoT for navigation. 

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 Market Challenges

Fleet management is a crucial aspect for transportation and logistics industries, helping fleet managers optimize operational efficiency and ensure safety. Challenges include routing, vehicle security, driver safety, fleet vehicle performance, fuel costs, and overhead costs. Fleet management solutions offer real-time visibility through GPS connectivity and navigation services like Google Maps and satellites. However, natural barriers and GPS signal disruptions can affect performance. Fleet owners face issues with fleet size, scheduling, and managing driver behavior. Advanced routing and geocoding help optimize routes, reducing fuel costs and distance traveled. Fleet management tools include hardware and software solutions for fuel management, maintenance management, and driver management. The fleet management market caters to commercial vehicles, from light to heavy, and connected vehicles. Logistics providers and transportation enterprises are transforming through automation, the Internet of Things, and 5G deployment. Asset management systems and financial solutions provide real-time tracking and monitoring for fleet vehicles, containers, and interconnected devices. Fleet management software offers on-premises and cloud-based solutions for car fleets, freight and logistics, and electronic logging. Fleet operators must comply with federal rules, including electronic logging devices. The holiday shopping season and last-mile delivery add to the complexity of fleet management. Vehicle leasing companies and allied carriers also benefit from fleet management solutions.The global fleet management market relies heavily on connectivity for real-time tracking and monitoring of vehicles. This requires a satellite and cellular communication network infrastructure. However, connectivity issues pose a significant challenge, particularly in areas with poor Internet infrastructure or weak cellular coverage. Suburban areas, highways, and some developing countries experience connectivity weaknesses. Moreover, remote mining locations often lack cellular connectivity. Ensuring reliable and high-speed Internet access is crucial for effective fleet management.

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Segment Overview 

This fleet management market report extensively covers market segmentation by  

Type 1.1 Subscription1.2 OthersVehicle Type2.1 Commercial fleet2.2 Passenger carGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and AfricaSolutionsFleet Type

1.1 Subscription-  Subscription-based fleet management solutions enable businesses to effectively manage their commercial fleets and personal vehicles with ease. These services offer flexibility in scaling services based on current needs, ensuring predictable and consistent costs for financial planning. Cloud-based systems require minimal hardware setup for quick deployment and include access to regular updates, new features, and improvements, ensuring access to the latest technologies. Integrated solutions offer features such as GPS tracking, telematics, fuel management, and maintenance tracking, streamlining fleet management processes. Subscription models from vendors like Azuga Inc. Provide real-time functions, sync with fleet management software, and allow unlimited users with customizable access levels. The growing demand for efficient fleet management and optimization has led to a strong presence of subscription offerings in the market, making this segment a significant contributor to the global fleet management market’s growth during the forecast period.

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Research Analysis

Fleet management refers to the efficient overseeing of fleet vehicles, including commercial vehicles such as cars, light commercial vehicles, and heavy commercial vehicles. Fleet managers utilize fleet management solutions to optimize routing, ensure vehicle security, and promote driver safety. Real-time GPS connectivity and fleet management tools help monitor fleet performance, track distance traveled, and manage fuel costs. Driver behavior analysis and maintenance management are crucial components to minimize overhead costs and enhance fleet efficiency. Fuel management, weight/volume tracking, and automation through the Internet of Things and connected vehicles are also integral aspects of modern fleet management systems. Freight and logistics operators benefit significantly from these advanced solutions, reducing operational costs and improving productivity. Autonomous vehicles are the future of fleet management, offering increased safety, efficiency, and cost savings.

Market Research Overview

The Fleet Management Market is a dynamic and growing industry that caters to the needs of fleet managers, fleet owners, and transportation enterprises. Fleet management solutions enable optimal routing, vehicle security, driver safety, and fleet performance. These solutions help in reducing fuel costs, tracking distance traveled, and monitoring driver behavior to minimize overhead costs. GPS connectivity plays a crucial role in fleet management, with satellites and natural barriers influencing GPS signal strength. Fleet management tools include hardware, software, and services for commercial vehicles, light commercial vehicles, and heavy commercial vehicles. The logistics industry, including logistic providers and transportation network, significantly benefits from fleet management solutions for operational efficiency and safety. Fleet management systems offer fuel management, maintenance management, and driver management features. The market is witnessing the transformation of the transportation industry with the integration of advanced technologies such as the Internet of Things, automation, and 5G deployment. Asset management systems and tracking solutions are also gaining popularity for financial and operational benefits. The holiday shopping season and freight and logistics industries put additional pressure on fleet management, making real-time visibility, scheduling, and advanced routing essential. Electronic logging and electronic logging devices are mandatory for compliance with federal rules. Vehicle leasing companies and vehicle tracking are also part of the fleet management ecosystem.

Table of Contents:

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

TypeSubscriptionOthersVehicle TypeCommercial FleetPassenger CarGeographyNorth AmericaEuropeAPACSouth 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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Youdao Dictionary Pen Unveils at CES 2025, Showcasing Cutting-Edge AI Innovations and Applications in Education

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LAS VEGAS, Jan. 10, 2025 /PRNewswire/ — Youdao, a leading intelligent learning company in China, is showcasing its AI-equipped smart device, the Youdao Dictionary Pen X7 series, at the International Consumer Electronics Show (CES 2025).This event showcases the strength of ‘Chinese AI’ in the field of educational technology to a global audience.

The Youdao booth attracted significant attention at the exhibition. The showcased Youdao Dictionary Pen X7 series features proprietary applications, including Hi Echo and Mr. P AI Tutor, which are based on the ‘Zi Yue’ educational large language model. It also provides offline translation capabilities through an edge-side large language model, drawing many users to experience the products.

During the exhibition, Youdao was invited to participate in the Microsoft Greater China offline event at CES 2025. Renlei Liu, Senior Vice President of Youdao, attended a high-level roundtable discussion. Alongside representatives from tech companies such as Microsoft, TCL, Lenovo, and TimeKettle, they explored AI innovation and the globalization of consumer electronics in China.

Renlei Liu stated that large language models possess exceptional natural language processing and interaction capabilities. Leveraging its extensive experience in the language and learning sectors, Youdao launched China’s first educational large language model, ‘Zi Yue’, in 2023. Based on this model, Youdao upgraded all of its software and hardware products and introduced a series of proprietary educational applications, including the digital human language coach, AI Document Q&A, and transcription services for international students.

Renlei Liu said, ‘We believe that before the emergence of truly super applications based on large language models, various companies are exploring vertical fields and specific scenarios, much like the early days of China’s mobile internet, when killer applications had not yet emerged and internet companies were innovating within vertical scenarios. There are many similarities between the era of large models and the mobile internet era, and we are actively experimenting as well’.

Youdao has also applied the reasoning and knowledge Q&A capabilities of the large language model to academic learning scenarios, launching the AI comprehensive inquiry learning assistant, Mr. P AI Tutor. It integrates the large language model and RAG (Retrieval-Augmented Generation) technology, enhancing the AI’s understanding of subject knowledge and the quality of its outputs. It offers guided explanations, multi-turn interactive heuristic teaching, and comprehensive Q&A support across all grades and subjects, addressing many issues in home tutoring scenarios.

Renlei Liu stated that Youdao is actively promoting the application of the “Zi Yue” educational large language model in various scenarios and has conducted a comprehensive AI upgrade of its business products to better meet users’ learning needs. As a result, Youdao’s AI subscription service has achieved rapid growth for seven consecutive quarters.

With the continuous development of large language model applications, improving the efficiency of AI research and development and application has become a key factor in industry competition. In response, Youdao has proposed a solution to harness the capabilities of smaller model applications. Renlei Liu pointed out that general large language models often aim for “large and comprehensive,” but the expansion of model size also leads to increased training and operational costs. For specific scenarios and tasks that require quick response times, using smaller models on the edge can facilitate more effective targeted training, enhance precision, and provide a better user experience.

The AI dictionary pen, equipped with a dedicated educational model can provide high-quality content and functional services, ensuring that it remains focused on learning purposes and is not used for entertainment or other applications. At the same time, by utilizing a smaller model on the edge for localized operation, it supports offline use, thereby avoiding disruptions from the network environment.

Renlei Liu stated that smaller models focus on high-quality vertical applications, which can continuously enhance user experience and build professional technical advantages through flexible and efficient training and iteration. Exploring the application of edge models in more specific scenarios is an important direction for Youdao’s development in AI technology.

In fact, Youdao has already made significant progress in the exploration of edge models. Based on its self-developed “Zi Yue” educational large language model, Youdao has developed the industry’s first edge large language model and applied it to the newly launched X7 series of dictionary pens. This dictionary pen features offline large language model translation capabilities, achieving translation results comparable to those of online NMT (Neural Machine Translation), greatly enhancing the accuracy and fluency of language learning.

As a star product in Youdao’s smart devices lineup, the Youdao Dictionary Pen X7 series has truly become an AI large language model dictionary pen. It is equipped with two proprietary applications of the first educational large language model, “Zi Yue” in China: the AI All-Subject Tutor, Mr. P AI Tutor, and the digital human language coach, Hi Echo, while also providing AI intelligent learning features such as AI essay refinement.

The Youdao Dictionary Pen X7 received an enthusiastic response from users upon its launch. It quickly became the best-selling product in the thousand-yuan price range, surpassing 30,000 units sold. During the 2024 Nov 11th Shopping Festival in China, the Youdao Dictionary Pen X7 Pro topped several industry rankings on major e-commerce platforms, marking the fifth consecutive year that Youdao dictionary pens have held the top position for sales in the same category across both JD.com and Tmall.

This time, Youdao showcased the Dictionary Pen X7 series at CES 2025, receiving widespread recognition on an international stage.

Focusing on AI + education, Youdao will continue to increase its investment in the research and development of edge model applications, promoting the implementation of large language models in more educational scenarios to provide learners with a better learning experience through efficient educational products.

About Youdao, Inc. 

Youdao, Inc. (NYSE: DAO) is a leading intelligent learning company in China focused on using technology to provide educational content, applications, and solutions for learners of all ages. Founded in 2006 as part of NetEase, Inc. (NASDAQ: NTES; HKEX: 9999), Youdao offers a wide range of online courses, interactive learning apps, and smart learning devices.

For more information, please visit: http://ir.youdao.com & https://smart.youdao.com/en/.

CONTACT: youdaopr@rd.netease.com  

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SOURCE Youdao

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HTX 2025 Outlook: Five Sectors to Look Forward to, and How Trump’s Policy Will Affect Crypto Industry

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SINGAPORE, Jan. 10, 2025 /PRNewswire/ — The year 2024 marks a significant chapter in the history of the crypto industry, where we witnessed continuous breakthroughs in blockchain technology, surges in Bitcoin price, and a gradually more open regulatory environment, with cryptocurrencies gaining increasing recognition from the mainstream. As 2025 unfolds, HTX, the world’s leading digital asset exchange, has released its latest report, HTX 2024 Global Web3 Blockchain Ecosystem Review and 2025 Outlook, which provides forward-looking insights into the development prospects of the crypto industry.

Key Sectors for 2025

In the report, HTX highlighted five key sectors that showed encouraging progress last year, and will continue to closely monitor these areas in 2025.

Bitcoin Ecosystem

In 2024, Bitcoin‘s market dominance kept increasing, solidifying its position as the core asset, with spot ETFs acting as liquidity channels, and U.S. listed companies such as MicroStrategy (MSTR) serving as the vehicles to absorb unlimited dollar liquidity.

As a result, it is increasingly essential to further develop Bitcoin‘s ecosystem and enhance capital utilization efficiency. With strong support from macro markets and infrastructure support, a further surge in Bitcoin demand over the next two years is well-anticipated.

Infrastructure

Infrastructure remained a cornerstone in 2024’s crypto investments and funding. The synergy between capital and technology has driven the rapid development of Layer 1, Layer 2,  and middleware projects, among others.

Layer 1 solutions, in particular, now represent the focal point of technical development and exploration within the crypto space, and it is expected to remain a priority for development resources and capital investment in the future.

Meme Coins

The Meme coin sector emerged as a hotspot in 2024, fostering community consensus while integrating with fields like DeFi and GameFi to create new use cases. As the crypto market environment grows increasingly favorable, more retail investors are expected to enter the market, positioning Meme projects as vital channels for capital inflows.

AI

In 2024, the intersection of Crypto and AI sector has been driving the exploration of several segmented fields, the hottest one of which is AI agents. In the future, AI agents will gradually become personal butlers and assistants for users, serving them with comprehensive capabilities. Over time, they may develop unique cultures and religions.

This deep integration of AI and encryption technology is a groundbreaking evolution that is unattainable within Web2 and cannot be achieved by Web3 relying solely on encryption technology.

TON Ecosystem

Attributable to Telegram’s hundreds of millions of users and robust technical support, the TON ecosystem achieved significant milestones in various fields, pioneering the monetization of Web2 social applications through crypto. Moving into 2025, it needs to explore and find new business models to improve user retention and identify its next growth curve.

Donald Trump Effect: Bitcoin Strategic Reserve Worth Anticipating

The report also discusses the potential impact of crypto-friendly policies that could arise after Donald Trump takes office. Two important bills, the FIT21 Act and the Bitcoin Strategic Reserve Act, are likely to pass more quickly thanks to him.

The FIT21 Act aims to create a clear legal framework for token issuance and trading by classifying tokens as digital assets or digital commodities, transferring the regulatory responsibilities of many blockchain projects from the SEC to the CFTC, and introducing a safe harbor mechanism. This would help standardize and promote the healthy growth of the entire industry.

The Bitcoin Strategic Reserve Act, aligning with Trump’s campaign promises, if passed, would mark Bitcoin‘s transition from a niche asset to a nationally recognized reserve asset, greatly enhancing its legitimacy and recognition. It may also prompt other countries to adopt similar measures to further advance Bitcoin‘s global recognition and application.

The Act was submitted to Congress for deliberation on August 4, 2024, and referred to the Senate Banking Committee for review. Trump is well-positioned to push this bill through. Meanwhile, several U.S. states have already proposed their own Bitcoin Strategic Reserve bills. By 2025, Bitcoin as a strategic reserve may become a reality.

Additionally, under Trump’s presidency, the SAB121 Act is likely to be repealed, allowing traditional financial institutions to hold cryptocurrencies on their balance sheets, further accelerating the institutionalization of crypto assets and contributing to the overall maturity of the crypto market. The SEC’s application criteria of the Howey Test may also be relaxed, increasing the likelihood of more spot crypto ETFs being approved and more public listings of crypto companies.

Meanwhile, the report also provides a comprehensive summary of 2024, looking back on the key events that had a major impact on the crypto industry while summing up what HTX had achieved over the last year.

To learn more, please visit: https://square.htx.com/htx-2024-global-web3-blockchain-ecosystem-review-and-2025-outlook/ 

About HTX

Founded in 2013, HTX has evolved from a virtual asset exchange into a comprehensive ecosystem of blockchain businesses that span digital asset trading, financial derivatives, research, investments, incubation, and other businesses.

As a world-leading gateway to Web3, we harbor global capabilities that enable us to provide users with safe and reliable services.

Our growth strategy – “Global Expansion, Thriving Ecosystem, Wealth Effect, Security & Compliance”, underpins our commitment to providing quality services and values to virtual asset enthusiasts worldwide.

Contact Details

Ruder Finn Asia
htx@ruderfinn.com 

Company Website
https://www.htx.com

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SOURCE HTX

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ZWSOFT 2024 Year in Review: Empowering Sustainable Innovation

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GUANGZHOU, China, Jan. 10, 2025 /PRNewswire/ — 2024 marked a transformative year for ZWSOFT, driven by its new mission: Empowering Sustainable Innovation. The ZWSOFT team took significant steps to drive innovation, foster collaboration, and deliver lasting value for customers, partners, and the global community.

From refining its all-in-one CAx solutions to fostering a thriving global ecosystem and nurturing talents, 2024 was a year of significant achievements and meaningful impact.

Refining All-in-One CAx Solutions for Global Professionals

In 2024, ZWSOFT unveiled the latest generation of its flagship products: ZWCAD 2025, ZW3D 2025, ZWCAD MFG 2025, PHOENICS 2025, and CADbro 2025. These releases introduced 45+ new features and 3,800+ enhancements, including powerful 3D capabilities, motion simulation, and AI-driven tools—all designed to deliver exceptional performance and empower professionals across industries.

These enhancements empower over 1.4 million users across 90+ countries, contributing to a 97.4% customer satisfaction rate in the company’s annual customer satisfaction survey. Throughout 2024, ZWCAD consistently earned recognition as a Leader and ranked among the top five in G2’s General-Purpose CAD category, solidifying its reputation as a reliable choice for designers and engineers worldwide.

Building Win-Win Partnerships for Greater Impact

ZWSOFT continued to build a vibrant global ecosystem based on collaboration, innovation, and shared success. The company’s flagship conference, ZWorld 2024, and prominent industry events such as Hannover Messe provided valuable platforms to connect with professionals worldwide and exchange insights on sustainable solutions for the AEC and manufacturing industries.

ZWSOFT further strengthened its global presence with five ZCON events held in Indonesia, Saudi Arabia, United Arab Emirates, Japan, and Vietnam, fostering stronger partnerships and unlocking new growth opportunities in key markets.

Collaboration remains at the core of ZWSOFT’s ecosystem. In 2024, the company partnered with over 260 global developers to deliver 300+ third-party applications and 430+ industry-specific solutions, tailored to address the unique needs of professionals across various industries.

Empowering Talents for a Sustainable Future

ZWSOFT’s commitment to nurturing future professionals and fostering innovation remained strong in 2024. The company collaborated with eight universities, providing software, equipment, and scholarships to support students and educators. The 2024 ZWSOFT CAD Competition attracted over 7,000 participants from 700+ universities, inspiring the next generation of designers and engineers.

ZWSOFT also continued to invest in its global workforce by launching the Overseas New Employee Training Program to help new team members integrate and thrive. Additionally, the company celebrated its people-first culture through ZWSOFT Family Day, bringing employees and their families together to foster a sense of community and recognize their contributions.

As 2025 begins, ZWSOFT remains committed to its mission of empowering sustainable innovation for businesses and individuals worldwide. With the strong foundation built in 2024, the company is poised to drive further progress, strengthen partnerships, and create a more sustainable future alongside its customers, partners, and employees.

Visit ZWSOFT’s 2024 Year in Review to learn more about the milestones that shaped an exceptional year.

About ZWSOFT

ZWSOFT aims to provide reliable all-in-one CAx (CAD/CAE/CAM) solutions for designers and engineers worldwide and enables them to streamline complex design workflows at a fair and reasonable price. Since ZWSOFT’s inception in 1998, over 1.4 million customers from more than 90 countries have chosen our products and solutions to solve their design challenges. Among the list are the world’s most innovative companies across various industries, including Saint-Gobain, LG, and Ericsson.

Website: https://www.zwsoft.com/ 

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SOURCE ZWSOFT CO., LTD. (Guangzhou)

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