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LG Innotek Accelerates Its Expansion into the Automotive Communication Component Market with Its Next-generation Digital Key solution

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Killing three birds—localization accuracy, security, and compatibility—with one stoneAiming for mass production in 2027: “Will solidify standing as a leading company in the automotive communication component market”

SEOUL, South Korea, Aug. 1, 2024 /PRNewswire/ — LG Innotek (CEO Moon, Hyuksoo) is gearing up to take the lead in the automotive communication component market with its cutting-edge ‘Digital Key solution’. 

The Digital Key is highlighted as a next-generation car key that can be used to open, lock, and start the car using a smartphone connected to the vehicle through wireless communication technology. Users will no longer need to carry a separate car key, eliminating the worry of misplacing it. And since the car can be started only with a smartphone connected to the digital key, there is a low risk of theft.

With the recent growth of the vehicle sharing industry, including car sharing and car rental, the demand for digital keys is on the rise. According to the global market research firm Persistence Market Research, the automotive digital key market is expected to more than quadruple, from USD 3.0167 billion in 2023, reaching USD 11.3813 billion in 2033.

LG Innotek has continuously enhanced the performance of its products since it first launched a ‘Digital Key Module for Vehicles’ in 2021. Now, it has developed a ‘Next-Generation Digital Key solution’ that significantly enhances the safety and convenience of passengers.

This product is a package of not only a digital key module installed with an antenna and circuitry but also software to operate the digital key. It places the company in a highly advantageous position in the automotive communication component market.

Killing three birds—localization accuracy, security, and compatibility—with one stone

LG Innotek’s ‘Next-Generation Digital Key solution’ incorporates the unrivalled wireless communication technology capabilities that the company has accumulated over the past 40 years.

It is equipped with short-range communication technologies, including Bluetooth Low Energy (BLE) and Ultra Wideband (UWB). UWB is a wireless communication technology that uses a wide bandwidth frequency that is less prone to interference than BLE. This technology plays a crucial role in accurately measuring the location of the smartphone connected to the digital key. This is complemented by the company’s proprietary algorithm, which accurately detects the smartphone’s location to within 10cm. This industry-leading performance is expected to significantly reduce the failure rate of existing digital keys.

Operating based on short-range wireless communication, LG Innotek’s ‘Next-Generation Digital Key solution’ is significantly more secure than the existing solution that is currently available on the market. This is because the risk of remote hacking cannot be ruled out due to the wide coverage of the long-range communication method used.

In particular, the product is equipped with the company’s independently-developed wireless communication hacking prevention technology to ensure that the digital key function can be activated only by the smartphone authorized by the user. This solves the security issue that has been pointed out as the biggest vulnerability of connected cars.

In addition, it adheres to the latest standards of the ‘Car Connectivity Consortium (CCC)’, a global digital key standardization organization. It can be used regardless of country, terrain, or vehicle type and is compatible with a wide range of smartphones. It is also designed to be interoperable with both iOS and Android operating systems, enhancing user convenience.

Furthermore, the ‘Next-Generation Digital Key solution’ is equipped with a radar that was developed in-house to provide additional functions that enhance safety and convenience.

An example is the ‘Child Presence Detection (CPD)’ function for when a child is left in the vehicle. The radar instantly detects the child’s movement or breathing and sends a real-time alert to the user’s smartphone.

In 2022, 33 children in the United States lost their lives from heatstroke after being left alone in a car. To prevent similar accidents in the future, the United States and Europe are planning to make in-car CDP systems mandatory in 2025.

Most importantly, LG Innotek’s ‘Next-Generation Digital Key solution’ is the smallest in the industry. More than 60 components and modules for BLE and UWB wireless communication, including RF (radio frequency) and power supply devices and in-house developed software, are packed into a solution smaller than a business card. This provides differentiated customer value, including greater design freedom.

Aming for mass production in 2027: “Will solidify standing as a leading company in the automotive communication component market”

LG Innotek has set 2027 as its target year for full-scale mass production of its ‘Next-Generation Digital Key solution’ and is actively promoting it to global customers of fully-built units.

In addition to this, it is accelerating efforts to capture the automotive communication component market with the second-generation ‘5G-V2X Communication Module’ that it developed last year. The company recently won an order for this module from a global automaker and expects to expand its sales volume of vehicle communication modules by more than four times this year compared to last year.

LG Innotek CEO Moon said, “LG Innotek will continue to foster automotive communication components based on its unparalleled wireless communication source technology as the core pillar of its electronic component business.” He then added, “We will continue to present products that offer differentiated customer value and solidify our position as a leader in the global automotive communication component market.”

 

 

 

 

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Kawasaki and CB&I Sign Strategic Collaborative Agreement for Promoting Commercial-Use Liquefied Hydrogen Supply Chain

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September 20, 2024

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HOUSTON, Sept. 19, 2024 /PRNewswire/ — Kawasaki Heavy Industries, Ltd. (Kawasaki) and CB&I, a wholly owned unrestricted subsidiary of McDermott, announced today their signing of a strategic agreement for promoting a commercial-use liquefied hydrogen (LH2) supply chain and realizing a zero-carbon-emission society. The signing ceremony took place at Gastech Exhibition & Conference in Houston on September 18, 2024.

“We are very pleased for this opportunity to build and launch a commercial liquefied hydrogen supply chain in cooperation with CB&I,” said Motohiko Nishimura, President, Energy Solutions & Marine Engineering Company, Kawasaki Heavy Industries, Ltd. “By taking advantage of both companies’ strengths and specialized know-how, we aim to cost down hydrogen, strengthen hydrogen supply chain competitiveness, and accelerate the transition to a zero-carbon society.”

Both companies will use their specialized know-how to provide infrastructure that will enable commercial-scale international LH2 supply chains in order to help achieve carbon-neutrality. By leveraging our combined expertise to deliver large-scale LH2 infrastructure solutions, CB&I and Kawasaki are removing barriers, driving down costs and enhancing scalability across the entire supply chain.

“This strategic partnership represents a significant advancement in liquid hydrogen storage capabilities,” said Mark Butts, Senior Vice President of CB&I. “Our technical expertise and extensive experience in liquid hydrogen storage position us at the forefront of the energy transition, delivering reliable storage solutions and executing projects worldwide with proven success.”

Under this agreement, the companies will provide infrastructure to advance the global realization of a sustainable energy economy and meet decarbonization targets. This collaboration will reduce LH2 infrastructure costs and contribute to more widespread use of this clean and efficient energy source.

About CB&I
CB&I is the world’s leading designer and builder of storage facilities, tanks, and terminals. With more than 60,000 structures completed throughout its 130-year history, CB&I has the global expertise and strategically located operations to provide its customers world-class storage solutions for even the most complex energy infrastructure projects. CB&I is a wholly owned unrestricted subsidiary of McDermott. To learn more, visit www.cbi.com.

About McDermott
McDermott is a premier, fully-integrated provider of engineering and construction solutions to the energy industry. Our customers trust our technology-driven approach engineered to responsibly harness and transform global energy resources into the products the world needs. From concept to commissioning, McDermott’s innovative expertise and capabilities advance the next generation of global energy infrastructure—empowering a brighter, more sustainable future for us all. Operating in over 54 countries, McDermott’s locally-focused and globally-integrated resources include more than 30,000 employees, a diversified fleet of specialty marine construction vessels and fabrication facilities around the world. To learn more, visit www.mcdermott.com.

About Kawasaki Heavy Industries, Ltd.
Kawasaki Heavy Industries, Ltd. is general engineering manufacturer with over 125 years of experience manufacturing products spanning land, sea and air. Kawasaki established the Kawasaki Group’s new vision statement, “Group Vision 2030: Trustworthy Solutions for the Future,” and is focusing on three fields, “A Safe and Secure Remotely-Connected Society,” “Near-Future Mobility,” and “Energy and Environmental Solutions” in order to provide solutions for social issues. For “Energy and Environmental Solutions” in particular, by securing the technology necessary for the entire supply chain (for production, transportation, storage and utilization) ahead of the rest of the world, Kawasaki aims to bring about a society that utilizes hydrogen, the ultimate clean energy that emits no carbon dioxide when used. To learn more, visit https://global.kawasaki.com/en.

Forward-Looking Statements
McDermott cautions that statements in this communication which are forward-looking, and provide other than historical information, involve risks, contingencies and uncertainties. These forward-looking statements include, among other things, statements about the expected benefits from the collaboration agreement discussed in this press release.  Although we believe that the expectations reflected in those forward-looking statements are reasonable, we can give no assurance that those expectations will prove to have been correct. Those statements are made by using various underlying assumptions and are subject to numerous risks, contingencies and uncertainties, including, among others: adverse changes in the markets in which we operate or credit or capital markets; our inability to successfully execute on contracts in backlog; changes in project design or schedules; the availability of qualified personnel; changes in the terms, scope or timing of contracts, contract cancellations, change orders and other modifications and actions by our customers and other business counterparties; changes in industry norms; actions by lenders, other creditors, customers and other business counterparties of McDermott and adverse outcomes in legal or other dispute resolution proceedings. If one or more of these risks materialize, or if underlying assumptions prove incorrect, actual results may vary materially from those expected. You should not place undue reliance on forward-looking statements. This communication reflects the views of McDermott’s management as of the date hereof. Except to the extent required by applicable law, McDermott undertakes no obligation to update or revise any forward-looking statement.

For media inquiries, please use the contact information below:

Reba Reid
Global Media Relations
+1 281 588 5636
RReid@McDermott.com

Kristi Krupala-Grove
CB&I Media Relations
+1 346 313 9636
KKrupala2@mcdermott.com

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SOURCE McDermott International, Ltd

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Halal Route Application – Eat, Travel around Thailand, Safe and Sound Halal Style

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September 20, 2024

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BANGKOK, Thailand, Sept. 20, 2024 /PRNewswire/ — The Halal Science Center, Chulalongkorn University has developed Halal Route, an application that lists restaurants, lodging, mosques, prayer directions, and tourist attractions in Thailand under Islamic tourism principles. It hopes to help Muslim tourists travel in Thailand with peace of mind, and supports tourism industry operators to grow and welcome a growing number of Muslim tourists.

The Tourism Authority of Thailand (TAT) predicts that in 2024 there will be around 168 million Islamic tourists worldwide.  According to the Mastercard-Crescent Rating Global Muslim Travel Index (GMTI 2024), Thailand is the 32nd most popular destination for Muslim tourists.  However, the major problem Muslim tourists encounter in Thailand is finding Halal-accredited restaurants, hotels, accommodations, or tourist attractions with service areas (such as prayer rooms) that are compliant with the Islamic way.

“Halal Route” is a travel aggregator app that collects searchable information on Halal restaurants, mosques, prayer locations, times, and directions for prayers (the qibla), tourist attractions, Muslim villages or communities, hotels, accommodations, etc.  This app is linked to Google Maps for navigation with precision. It also supports 3 languages, Thai, English, and Arabic, so that Muslim tourists can live and travel more comfortably and with peace of mind,” said Mr.Erfun Weahama, Science Service Officer, Halal Route App development team.

Dr. Anat Denyingyot, Assistant Director of the Halal Science Center, emphasized that the Halal Route application has the most reliable and comprehensive information on halal tourism in Thailand today. “All restaurants and locations have had on-site visits and are audited according to standards approved by a trusted authority or organization, such as certifications from religious organizations or halal food-related entities, as well as management systems to guarantee and be responsible for halal conditions (the HAL-Q system),” Dr. Anat assured.

Currently, the application has more than 1,100 restaurants in its database, and new locations and services are being updated, covering more than 40 provinces from north to south of Thailand that are popular among tourists.

“Halal Route is not only for navigation, but a platform that connects Muslim communities from around the world who have the opportunity to visit Thailand,” Associate Professor Dr.Winai Dahlan, Director of the Halal Science Center concluded.

The Halal Route application is free to download on both iOS and Android systems.

Read the full article at https://www.chula.ac.th/en/highlight/185916/  

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SOURCE Chulalongkorn University

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QR Code Labels Market Size to Grow USD 1339.1 Million by 2030 at a CAGR of 5.6% | Valuates Reports

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September 20, 2024

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BANGALORE, India, Sept. 19, 2024 /PRNewswire/ — QR Code Labels Market is Segmented by Type (Flexographic Printing, Digital Printing, Offset Gravure), by Application (Inventory Management, Marketing & Advertisement, Mobile Payments, Personal Use): Global Opportunity Analysis and Industry Forecast, 2024-2030.

The Global QR Code Labels Market was valued at US$ 889.2 million in 2023 and is anticipated to reach US$ 1339.1 million by 2030, witnessing a CAGR of 5.6% during the forecast period 2024-2030.

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Major Factors Driving the Growth of QR Code Labels Market:

The QR code labels market is experiencing robust growth due to the increasing adoption across sectors like retail, logistics, marketing, and payments. The convenience, versatility, and cost-effectiveness of QR code labels, combined with the rise in mobile phone usage and the shift toward contactless technologies, are key drivers of this growth. Industries are leveraging QR codes for diverse applications such as inventory management, mobile payments, and marketing campaigns. However, concerns about data privacy and security may limit widespread adoption in certain regions.

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TRENDS INFLUENCING THE GROWTH OF THE QR CODE LABELS MARKET:

 Flexographic printing holds the largest share in the QR code labels market due to its high-speed production capabilities and cost-effectiveness for large print runs. Flexographic printing is particularly popular in sectors like retail and logistics, where large quantities of QR code labels are required for packaging and inventory management. Its ability to print on a wide range of substrates, including paper, plastic, and metallic foils, makes flexographic printing the preferred choice for high-volume, cost-efficient QR code label production, driving its dominance in the market.

Digital printing is the second-largest segment, known for its flexibility, quick turnaround times, and ability to produce short print runs cost-effectively. This technology is widely adopted in the marketing and advertising sectors where businesses need customized QR code labels for targeted campaigns and promotions. Digital printing offers high-quality, precise printing for small batches, allowing companies to personalize QR codes for specific audiences or events. The growing trend of personalization in marketing is significantly driving the demand for digital printing in the QR code labels market.

Inventory management is the largest application segment, as QR code labels simplify tracking and monitoring products in warehouses, retail stores, and logistics chains. QR codes allow for real-time updates and easy access to product details, making inventory management more efficient. Businesses, especially in e-commerce and logistics, rely on QR codes to reduce human errors, improve accuracy, and streamline operations. As global trade and e-commerce continue to grow, inventory management remains the largest driver of the QR code labels market.

QR codes in marketing and advertising are increasingly popular as brands use them to engage customers directly through digital content. By scanning a QR code, consumers can access websites, videos, promotions, and other interactive media, enhancing brand interaction. This trend is particularly strong in retail and consumer goods sectors, where QR codes are used in packaging, billboards, and digital campaigns. With more consumers using smartphones, QR codes have become a key tool in marketing strategies, driving growth in this application.

The use of QR code labels for mobile payments is rapidly expanding, especially in regions like Asia-Pacific, where cashless transactions are becoming the norm. QR codes provide a secure, contactless payment solution, and their integration with mobile wallets makes them convenient for both consumers and businesses. The pandemic accelerated the shift to contactless payments, and the trend is expected to continue as more businesses adopt QR code-enabled payment systems. This rising trend is a significant factor contributing to the growth of the QR code labels market.

QR code labels are also being increasingly adopted for personal use, particularly in the context of social networking, personal branding, and event management. Individuals are using QR codes to share contact information, social media profiles, or event details. The ease of generating and sharing QR codes through mobile apps has made this technology accessible for personal use. As digital interaction becomes more integrated into daily life, personal use of QR code labels is expected to grow, further expanding the market.

The production of QR code labels, particularly in large quantities, is increasingly being scrutinized for its environmental impact. Companies are looking for sustainable printing solutions, such as eco-friendly inks and biodegradable materials, to reduce the environmental footprint of label production. Flexographic and digital printing technologies are evolving to meet these demands, with manufacturers investing in greener alternatives. The shift towards sustainability in label production is expected to shape the future of the QR code labels market.

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QR CODE LABELS MARKET SHARE

The Asia-Pacific region dominates the QR code labels market, driven by the widespread use of QR codes for mobile payments and inventory management, particularly in China and Japan. North America follows, with increasing adoption in retail, marketing, and healthcare. Europe is also a key market, driven by the rising demand for contactless payment solutions and digital marketing initiatives. The Middle East and Africa are emerging markets, especially in mobile payments and product traceability applications.

Key Companies:

Lintec CorporationCCL IndustriesPacktica SDNLabel LogicHibiscusData LabelAdvanced LabelsCoast Label CompanyLabel ImpressionsConsolidated LabelAvery

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DISCOVER MORE INSIGHTS: EXPLORE SIMILAR REPORTS!

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–  QR Scan Payment Market

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–  Scan QR Code ID Temperature Measurement All-In-One Machine Market

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