Artificial Intelligence
Yunji Announces Second Quarter 2020 Unaudited Financial Results
HANGZHOU, China, Aug. 25, 2020 (GLOBE NEWSWIRE) — Yunji Inc. (“Yunji” or the “Company”) (NASDAQ: YJ), a leading membership-based social e-commerce platform, today announced its unaudited financial results for the second quarter ended June 30, 20201.
Second Quarter 2020 Highlights
Mr. Shanglue Xiao, Chairman and Chief Executive Officer of Yunji, said, “We continued to lay the foundation for our long-term growth by shifting more of our sales volumes to our marketplace model, establishing partnerships with quality emerging brands and introducing additional attractive private label brands to users on our platform as well as other platforms. We began to leverage our differentiated product offerings and unique value proposition during the second quarter to engage a more diverse range of partners and further develop our online-offline integrated sales channels for private label brand, emerging brand, and joint-venture brand products. In recognition of the increasingly vital role that social sharing is playing throughout the social e-commerce purchasing process, we decided to allocate a larger portion of our resources towards service manager training on best practices for user interactions. Users have responded well to our increasingly refined product purchasing experience, and we expect to continue making progress on this front in the future. Looking ahead, we believe that our competitive advantages in supply chain, unique product offerings, and social features have positioned us well to widen our economic moats and enter into a new growth cycle going forward. Meanwhile, we would also like to express our appreciation to our suppliers, third-party merchants, third-party logistics service providers, and other business partners, who stood together with us during our gradual recovery from COVID-19 pandemic in this quarter.”
“In the second quarter of 2020, we continued to focus on shifting more of our sales volumes to our marketplace model and to refine our membership enrollment system. As expected, our topline performance was impacted by our commitment to these overarching goals in the period. Despite many industry players offering subsidies to boost sales, we decided to forgo such short-term distractions and instead focus on implementing our long-term growth plan and effective cost control measures. As such, we reported an adjusted net income of RMB20.1 million in the quarter as compared to an adjusted net loss in the same period of 2019, further showcasing the consistent progress we are making towards healthy profitability. In addition, to meet our operational and liquidity needs in light of COVID-19, we continued to closely and proactively monitor our cash flow, making a consistent effort to settle our payment with increasingly favorable terms to us and maintain a healthy level of working capital.” said Mr. Chen Chen, Chief Financial Officer of Yunji.
Second Quarter 2020 Unaudited Financial Results Total revenues were RMB1,486.9 million (US$210.5 million), compared with RMB3,064.1 million in the same period of 2019, which was primarily due to a decrease in revenues from sales of merchandise as a result of an increase in the proportion of the Company’s business contributed from its marketplace business. Revenues generated through the marketplace business are recognized on a net basis and contributed to marketplace revenues, while revenues generated from merchandise sales are recognized on a gross basis and contributed to sales of merchandise, net.
Total cost of revenues decreased by 55.8% to RMB1,053.7 million (US$149.1 million) from RMB2,383.1 million in the same period of 2019. This decrease was mainly attributable to the decline in merchandise sales, which recognize revenues on a gross basis. Total cost of revenues was mainly composed of those costs related to the sales of merchandise revenue in the second quarter of 2020 due to the start of the free membership program from January 2020.
Total operating expenses decreased by 38.6% to RMB486.6 million (US$68.9 million) from RMB792.9 million in the same period of 2019.
Loss from operations was RMB45.2 million (US$6.4 million), compared with RMB103.9 million in the same period of 2019.
Net loss was RMB17.5 million (US$2.5 million), compared with RMB84.5 million in the same period of 2019.
Adjusted net income4 was RMB20.1 million (US$2.8 million), compared with an adjusted net loss of RMB39.2 million in the same period of 2019.
Basic and diluted net loss per share attributable to ordinary shareholders was RMB0.01 (US$0.001), compared with RMB0.28 in the same period of 2019. Use of Non-GAAP Financial Measures
In evaluating the business, the Company considers and uses adjusted net income/(loss) as a supplemental measure to review and assess operating performance. The presentation of this non-GAAP financial measure is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. The Company defines adjusted net income/(loss) as net income/(loss) excluding share-based compensation.
The Company presents adjusted net income/(loss) because it is used by management to evaluate operating performance and formulate business plans. Adjusted net income/(loss) enables management to assess operating performance without considering the impact of share-based compensation recorded under ASC 718, “Compensation-Stock Compensation”. The Company also believes that the use of this non-GAAP measure facilitates investors’ assessment of operating performance.
This non-GAAP financial measure is not defined under U.S. GAAP and is not presented in accordance with U.S. GAAP. The non-GAAP financial measure has limitations as an analytical tool. One of the key limitations of using adjusted net income/(loss) is that it does not reflect all items of income and expense that affect the Company’s operations. Share-based compensation has been and may continue to be incurred in Yunji’s business and is not reflected in the presentation of adjusted net income/(loss). Further, this non-GAAP measure may differ from the non-GAAP information used by other companies, including peer companies, and therefore its comparability may be limited.
The Company compensates for these limitations by reconciling the non-GAAP financial measure to the nearest U.S. GAAP performance measure, all of which should be considered when evaluating performance. Yunji encourages investors and others to review its financial information in its entirety and not rely on a single financial measure. For more information on the non-GAAP financial measures, please see the table captioned “Reconciliation of Non-GAAP Measures to The Most Directly Comparable Financial Measures” set forth at the end of this press release.
Conference Call
The Company will host a conference call on Tuesday, August 25, 2020, at 7:30 AM Eastern Time or 7:30 PM Beijing/Hong Kong Time to discuss its earnings.
In advance of the conference call, all participants must use the following link to complete the online registration process. Upon registering, each participant will receive important details for this conference including the call date and time, a unique registrant ID, and a set of participant dial-in numbers to join the conference call.
A telephone replay of the call will be available after the conclusion of the conference call for one week. Dial-in numbers for the replay are as follows:
Safe Harbor Statements
This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident,” “potential,” “continue” or other similar expressions. Among other things, the quotations from management in this announcement, as well as Yunji’s strategic and operational plans, contain forward-looking statements. Yunji may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about Yunji’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Yunji’s growth strategies; its future business development, results of operations and financial condition; its ability to understand buyer needs and provide products and services to attract and retain buyers; its ability to maintain and enhance the recognition and reputation of its brand; its ability to rely on merchants and third-party logistics service providers to provide delivery services to buyers; its ability to maintain and improve quality control policies and measures; its ability to establish and maintain relationships with merchants; trends and competition in China’s e-commerce market; changes in its revenues and certain cost or expense items; the expected growth of China’s e-commerce market; PRC governmental policies and regulations relating to Yunji’s industry, and general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Yunji’s filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and Yunji undertakes no obligation to update any forward-looking statement, except as required under applicable law.
About Yunji Inc.
Yunji Inc. is a leading social e-commerce platform in China that has pioneered a unique, membership-based model to leverage the power of social interactions. The Company’s e-commerce platform offers high-quality products at attractive prices across a wide variety of categories catering to the day-to-day needs of Chinese consumers. In addition, the Company uses advanced technologies including big data and artificial intelligence to optimize user experience and incentivize members to promote the platform as well as share products with their social contacts. Through deliberate product curation, centralized merchandise sourcing, and efficient supply chain management, Yunji has established itself as a trustworthy e-commerce platform with high-quality products and exclusive membership benefits, including discounted prices. For more information, please visit https://investor.yunjiglobal.com/
Investor Relations Contact
Yunji Inc. ICR, Inc.
United States Toll Free
+1-855-452-5696
International
+61-2-8199-0299
Conference ID
3145988
Investor Relations
Email: [email protected]
Phone: +1 (646) 224-6957
Xinran Rao
Email: [email protected]
Phone: +1 (646) 224-6957
YUNJI INC.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(All amounts in thousands, except for share and per share data, unless otherwise noted)
As of
December 31,
2019
June 30,
2020
RMB
RMB
US$
ASSETS
Current Assets
Cash and cash equivalents
883,369
1,076,960
152,434
Restricted cash
84,374
105,524
14,936
Short-term investments
774,736
477,960
67,651
Accounts receivable, net
28,527
18,996
2,689
Advance to suppliers
87,289
78,947
11,174
Inventories, net
428,322
313,778
44,412
Amounts due from related parties
6,830
10,112
1,431
Prepaid expenses and other current assets
567,432
468,462
66,306
Total current assets
2,860,879
2,550,739
361,033
Non-current assets
Property and equipment, net
45,344
38,879
5,503
Long-term investments9
198,860
212,884
30,132
Deferred tax assets
97,792
56,435
7,988
Operating lease right-of-use assets, net
43,043
31,800
4,501
Other non-current assets
56,281
142,663
20,193
Total non-current assets
441,320
482,661
68,317
Total assets
3,302,199
3,033,400
429,350
YUNJI INC.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED)
(All amounts in thousands, except for share and per share data, unless otherwise noted)
As of
December 31,
2019
June 30,
2020
RMB
RMB
US$
LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS’ (DEFICITS)/EQUITY
Current Liabilities
Accounts payable
741,959
656,399
92,906
Deferred revenue
181,828
97,552
13,808
Incentive payables to members
384,486
330,056
46,716
Refund payable to members7
26,883
3,713
526
Member management fees payable
78,355
45,568
6,450
Other payable and accrued liabilities
349,111
318,022
45,013
Amounts due to related parties
18,296
27,076
3,832
Operating lease liabilities – current
17,559
15,813
2,238
Total current liabilities
1,798,477
1,494,199
211,489
Non-current liabilities
Operating lease liabilities
27,734
20,824
2,947
Deferred tax liabilities
11,329
10,209
1,445
Total non-current liabilities
39,063
31,033
4,392
Total Liabilities
1,837,540
1,525,232
215,881
YUNJI INC.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED)
(All amounts in thousands, except for share and per share data, unless otherwise noted)
As of
December 31,
2019
June 30,
2020
RMB
RMB
US$
Shareholders’ equity
Ordinary shares
70
70
10
Less:Treasury stock
(96,669
)
(112,724
)
(15,955
)
Additional paid-in capital
7,255,404
7,326,320
1,036,973
Statutory reserve
11,633
11,633
1,647
Accumulated other comprehensive income
88,863
106,446
15,067
Accumulated deficit
(5,805,332
)
(5,830,392
)
(825,238
)
Total Yunji Inc. shareholders’ equity
1,453,969
1,501,353
212,504
Non-controlling interests
10,690
6,815
965
Total shareholders’ equity
1,464,659
1,508,168
213,469
Total liabilities and shareholders’ equity
3,302,199
3,033,400
429,350
YUNJI INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
(All amounts in thousands, except for share and per share data, unless otherwise noted)
For the Three Months Ended
For the Six Months Ended
June 30,
2019
June 30,
2020
June 30,
2019
June 30,
2020
RMB
RMB
US$
RMB
RMB
US$
Revenues:
Sales of merchandise, net
2,731,597
1,299,325
183,908
5,951,772
2,745,182
388,555
Membership program revenue
267,568
12,333
1,746
424,183
37,467
5,303
Marketplace revenue5
52,989
159,643
22,596
56,407
317,714
44,970
Other revenues
11,896
15,628
2,212
17,243
35,772
5,063
Total revenues
3,064,050
1,486,929
210,462
6,449,605
3,136,135
443,891
Operating cost and expenses:
Cost of revenues
(2,383,097
)
(1,053,705
)
(149,142
)
(5,114,134
)
(2,201,728
)
(311,634
)
Fulfilment
(296,536
)
(129,004
)
(18,260
)
(567,147
)
(267,090
)
(37,803
)
Sales and marketing
(339,390
)
(228,351
)
(32,321
)
(602,571
)
(480,012
)
(67,941
)
Technology and content
(91,560
)
(58,577
)
(8,291
)
(150,239
)
(116,515
)
(16,492
)
General and administrative
(65,368
)
(70,662
)
(10,002
)
(127,247
)
(145,844
)
(20,643
)
Total operating cost and expenses
(3,175,951
)
(1,540,299
)
(218,016
)
(6,561,338
)
(3,211,189
)
(454,513
)
Other operating income6
7,985
8,200
1,161
18,545
23,778
3,366
Loss from operations
(103,916
)
(45,170
)
(6,393
)
(93,188
)
(51,276
)
(7,256
)
Financial income, net
16,032
28,232
3,996
30,953
18,428
2,609
Foreign exchange (loss)/income, net
(2,352
)
(3,662
)
(518
)
(7,614
)
2,359
334
Other non-operating income, net
–
–
–
–
–
–
Loss before income tax benefit, and equity in loss of affiliates, net of tax
(90,236
)
(20,600
)
(2,915
)
(69,849
)
(30,489
)
(4,313
)
Income tax benefit8
6,003
3,305
468
3,738
160
23
Equity in loss of affiliates, net of tax
(280
)
(203
)
(29
)
(1,540
)
(407
)
(58
)
Net loss
(84,513
)
(17,498
)
(2,476
)
(67,651
)
(30,736
)
(4,348
)
Less: net income/(loss) attributable to non-controlling interests shareholders
143
(5,548
)
(785
)
2,260
(5,676
)
(803
)
Net loss attributable to YUNJI INC.
(84,656
)
(11,950
)
(1,691
)
(69,911
)
(25,060
)
(3,545
)
YUNJI INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (CONTINUED)
(All amounts in thousands, except for share and per share data, unless otherwise noted)
For the Three Months Ended
For the Six Months Ended
June 30,
2019
June 30,
2020
June 30,
2019
June 30,
2020
RMB
RMB
US$
RMB
RMB
US$
Accretion on convertible redeemable preferred shares to redemption value
(416,025
)
–
–
(1,532,013
)
–
–
Net loss attributable to ordinary shareholders
(500,681
)
(11,950
)
(1,691
)
(1,601,924
)
(25,060
)
(3,545
)
Net loss
(84,513
)
(17,498
)
(2,476
)
(67,651
)
(30,736
)
(4,348
)
Other comprehensive income/(loss)
Foreign currency translation adjustment
29,761
(666
)
(94
)
11,812
17,583
2,489
Total comprehensive loss
(54,752
)
(18,164
)
(2,570
)
(55,839
)
(13,153
)
(1,859
)
Less: total comprehensive income/(loss) attributable to non-controlling interests shareholders
143
(5,548
)
(785
)
2,260
(5,676
)
(803
)
Total comprehensive loss attributable to YUNJI INC.
(54,895
)
(12,616
)
(1,785
)
(58,099
)
(7,477
)
(1,056
)
Net loss attributable to ordinary shareholders
(500,681
)
(11,950
)
(1,691
)
(1,601,924
)
(25,060
)
(3,545
)
Weighted average number of ordinary shares used in computing net loss per share, basic and diluted
1,803,779,111
2,124,741,188
2,124,741,188
1,479,391,708
2,124,450,699
2,124,450,699
Net loss per share attributable to ordinary shareholders
Basic
(0.28
)
(0.01
)
(0.001
)
(1.08
)
(0.01
)
(0.002
)
Diluted
(0.28
)
(0.01
)
(0.001
)
(1.08
)
(0.01
)
(0.002
)
YUNJI INC.
NOTES TO UNAUDITED FINANCIAL INFORMATION
(All amounts in thousands, except for share and per share data, unless otherwise noted)
For the Three Months Ended
For the Six Months Ended
June 30,
2019
June 30,
2020
June 30,
2019
June 30,
2020
RMB
RMB
US$
RMB
RMB
US$
Share-based compensation expenses included in:
Technology and content
3,347
3,388
479
6,287
7,357
1,041
General and administrative
20,281
27,669
3,917
39,684
56,729
8,029
Fulfillment
3,196
3,644
516
5,771
7,706
1,091
Sales and marketing
18,533
2,884
408
19,857
5,105
723
Total
45,357
37,585
5,320
71,599
76,897
10,884
YUNJI INC.
RECONCILIATION OF NON-GAAP MEASURES TO THE MOST DIRECTLY COMPARABLE FINANCIAL MEASURES
(All amounts in thousands, except for share and per share data, unless otherwise noted)
For the Three Months Ended
For the Six Months Ended
June 30,
2019
June 30,
2020
June 30,
2019
June 30,
2020
RMB
RMB
US$
RMB
RMB
US$
Reconciliation of Net Loss to Adjusted Net (Loss)/Income:
Net loss
(84,513
)
(17,498
)
(2,476
)
(67,651
)
(30,736
)
(4,348
)
Add: Share-based compensation
45,357
37,585
5,320
71,599
76,897
10,884
Adjusted net (loss)/income
(39,156
)
20,087
2,844
3,948
46,161
6,536
Artificial Intelligence
How AIoT shapes the future of mobility: Hikvision at ITS World Congress 2024
HANGZHOU, China, Sept. 27, 2024 /PRNewswire/ — Hikvision made a significant impact at the ITS World Congress in Dubai with its captivating theme, “Embrace AIoT for safer, smarter, and greener mobility.” Its booth became a hub of innovation, where visitors explored AIoT solutions that are reshaping the transportation landscape, sparking deep conversations on the future of urban mobility.
Road safety revolution: harnessing AIoT for secure transportation
Hikvision’s commitment to road safety was on full display at its booth through the impressive array of AIoT solutions designed to create secure and reliable traffic environments. The company’s technology provides 24/7 traffic monitoring, ensuring continuous oversight of motor vehicles, non-motorized vehicles, pedestrians and environmental factors. This comprehensive, real-time information collection enables traffic managers to prevent accidents and enhance road safety. Among the showcased products was the 20 MP IR ANPR Checkpoint Capture Unit, renowned for its high-definition capture capabilities, bolstering traffic safety measures.
A standout innovation was the integration of advanced radar and camera technologies, ensuring uninterrupted, comprehensive detection even in adverse weather conditions. The Radar-Video Fusion Incident Detection Cameras, featured prominently in the product experience area, enable early detection and warning of potential hazards. They are particularly effective in challenging situations such as curved roads, blind spots at intersections, and obstacles beyond visual range.
Attendees also engaged with onboard monitoring products on the simulated bus, including dome network cameras, which is designed to enhance passenger safety. Driving assistance products, such as the Driver Status Monitor (DSM), were demonstrated to mitigate unsafe driving behaviors and ensure safer journeys.
Urban mobility redefined: smart traffic innovations
In the realm of smarter mobility, Hikvision showcased its multidimensional sensing technology, which integrates visible light sensors, infrared sensors, radar, and sonar. This technology expands perception capabilities, significantly improving traffic management and situational awareness. The use of AI-powered comprehensive sensing elevates incident monitoring and violation detection to unprecedented levels of accuracy and efficiency.
A major attraction was the Radar-Video Fusion TandemVu PTZ Camera, which integrates millimeter-wave radar with high-resolution cameras for extensive traffic detection and data analysis. AI-based algorithms combine these two systems to enhance target information, detecting up to 16 types of incidents. This leads to the development of a large-scale fusion model that merges spatial physical data with image semantic information. The result is ultra-long-range perception, achieving over 95% accuracy in vehicle trajectory detection. This robust system improves traffic violation management and optimizes traffic flow, significantly enhancing road efficiency.
At the simulated bus station, visitors observed how AI-assisted people counting automated the collection of passenger flow statistics at peak stop hours and bus line frequency during busy periods. Paired with smart bus stop digital signage, the solution improves bus service quality, operational efficiency, passenger experience, and overall public transport effectiveness.
Sustainable transportation: leading the charge for greener cities
Hikvision’s commitment to sustainable urban mobility was evident through its innovative green wave technology and eco-friendly checkpoint solutions. Green wave technology efficiently manages traffic flow to reduce congestion and lower carbon emissions, aligning with global sustainability goals. Visitors were particularly impressed by a case study showcasing a green wave solution implemented in Zhoushan, China. Over a stretch of 21 kilometers and 34 intersections, this main road cut travel times by 50%.
The use of DarkFighterX technology in checkpoint cameras also received significant attention. This technology senses both visible and invisible light, resulting in more accurate and realistic images. It enhances traffic violation enforcement efficiency while minimizing the need for high ambient light levels, thus reducing light pollution. The 9M DarkfightX ANPR Checkpoint Camera exemplified this dedication to environmental stewardship.
Frank Zhang, President of Hikvision MEA, remarked, “Hikvision supports sustainable urban planning by empowering traffic departments to address congestion and transportation challenges.” He further emphasized, “Our system’s openness fosters a secure and reliable platform for developing smart and green cities. Additionally, our solar technology is extensively utilized in remote areas, while our smart street lighting solutions reduce energy consumption by 20-30%, promoting intelligent urban transportation and advancing global sustainability objectives.”
Hikvision’s presence at the ITS World Congress in Dubai underscored its leadership in integrating AIoT technologies to drive safer, smarter, and greener mobility solutions. The engaging presentations and advanced product demonstrations captured significant attention from industry partners and customers, reaffirming the company’s role as a pioneer in shaping the future of urban transportation. As the world moves towards more intelligent and sustainable transportation systems, Hikvision remains at the forefront, embracing AIoT to create a safer, smarter, and greener future for all.
To find out more about Hikvision’s advanced traffic and public transport solutions, please explore the Hikvision official website.
Photo – https://mma.prnewswire.com/media/2516934/How_AIoT_shapes_future_mobility_Hikvision_ITS_World_Congress_2024.jpg
View original content:https://www.prnewswire.co.uk/news-releases/how-aiot-shapes-the-future-of-mobility-hikvision-at-its-world-congress-2024-302261298.html
Artificial Intelligence
Anti-Drone Market worth $7.05 billion by 2029 – Exclusive Report by MarketsandMarkets™
DELRAY BEACH, Fla., Sept. 27, 2024 /PRNewswire/ — The global anti-drone market was valued at USD 2.16 billion in 2024 and is projected to reach USD 7.05 billion by 2029; it is expected to register a CAGR of 26.7% during the forecast period according to a new report by MarketsandMarkets™. Increasing government spending on counter-drone technologies, rising incidence of critical infrastructure security breaches by unauthorized drones, and surge in adoption of aerial remote sensing technologies to safeguard critical infrastructure are attributed to the demand for anti-drone.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=177013645
Browse in-depth TOC on “Anti-Drone Market” 178 – Tables61 – Figures253 – Pages
Anti-Drone Market Report Scope:
Report Coverage
Details
Market Revenue in 2024
$ 2.16 billion
Estimated Value by 2029
$ 7.05 billion
Growth Rate
Poised to grow at a CAGR of 26.7%
Market Size Available for
2020–2029
Forecast Period
2024–2029
Forecast Units
Value (USD Million/Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
By System Type, Application, Platform type, Vertical, and Region
Geographies Covered
North America, Europe, Asia Pacific, and Rest of World
Key Market Challenge
Vulnerability to hacking
Key Market Opportunities
Emphasis on improving unmanned aircraft systems technology
Key Market Drivers
Growing number of illicit activities
By System Type: Hybrid systems to account for the larger market share in the forecasted year.
The hybrid segment accounted for the largest share of the anti-drone market in 2029. The trends of integrating multiple anti-drone technologies are rising since they are most effective in detecting, tracking, and neutralizing drone threats. These systems merge electronic, kinetic, and lasers, providing a comprehensive defense solution against UAVs. Hybrid systems use electronic, kinetic, and laser-based countermeasures to offer optimum protection against drones. These systems are designed to detect, track, identify, categorize, and mitigate drones at operational wide ranges ranging from a few km up to tens of km.
By Platform: The ground-based segment accounted for the largest market share in the forecast year.
The ground-based segment will hold a major share of the anti-drone market in 2029. Many ground-based anti-drone systems use several electronic technologies, such as radar, IR sensors, acoustic systems, and RF & GNSS jammers. MESA radar solutions are used mostly for counter-UAS purposes, protecting critical infrastructure, military camps, and other security-sensitive sites from unauthorized drones. One such solution is EchoGuard, a ground-based airspace management solution that contains a software-defined 3D radar that can be specific to the site. This system can identify single or multiple off-chance drones, including swarms in unauthorized areas. They provide accurate and sustained airspace surveillance for the field of view (FOV) they are configured, and both human and AI-monitored visual checks. The system can be easily transported and integrated directly with the command-and-control centers or another identification sensor for portable use, and multiple units of the system can be combined to cover vast areas or lengths of borders. Major providers of ground-based counter-drone systems include companies like EchoDyne Corporation, DeTect, Meteksan Defense, and WhiteFox Defense. Acoustics-based Discovair G2 utilizes patented microphone arrays. With 128 interconnected microphone elements, the Discovair sensor units can establish azimuth and elevation to the target in real-time using advanced digital signal processing.
Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=177013645
By Region: Americas are expected to hold the largest share of the anti-drone market during the forecast period.
Americas is expected to capture the largest share in the anti-drone industry during the forecast period. The growth can be attributed to protecting crucial infrastructure in the region. Governments, particularly in the US, invest in anti-drone systems for military bases, borders, and critical infrastructure. For Instance, in April 2023, RTX secured a USD 237 million contract from the US Army to provide Ku-band Radio Frequency Sensors (KuRFS) and Coyote effectors. These systems are designed to detect and neutralize unmanned aircraft systems (UAS). The contract includes stationary and mobile systems and a specified quantity of effectors, all aimed at enhancing the Army’s operations within the US Central Command region.
Key Players-
The key companies offering anti-drone companies include RTX (US), Lockheed Martin Corporation (US), Leonardo S.p.A. (Italy), Thales (France), and IAI (Israel).
Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=177013645
Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting
Related Reports:
Drone Sensor Market Size, Share, Industry Growth & Trends by Sensor Type, Platform (VTOL Type, Fixed Wing Type, Hybrid Type), Application (Navigation, Collision Detection & Avoidance, Data Acquisition, Motion Detection, Power Monitoring), End Users and Region – Global Forecast to 2029
Smart Agriculture Market Size, Share, Statistics and Industry Growth Analysis Report by Offering (Hardware, Software, Services), Agriculture Type, Farm Size (Large, Medium, Small), Application (Precision Farming, Livestock Monitoring) and Region (America, Europe, Asia Pacific, Row) – Global Forecast to 2028
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact: Mr. Rohan SalgarkarMarketsandMarkets™ INC. 1615 South Congress Ave.Suite 103, Delray Beach, FL 33445USA: +1-888-600-6441Email: [email protected] Our Web Site: https://www.marketsandmarkets.com/Research Insight: https://www.marketsandmarkets.com/ResearchInsight/anti-drone-market.aspContent Source: https://www.marketsandmarkets.com/PressReleases/anti-drone.asp
Logo: https://mma.prnewswire.com/media/1951202/4609423/MarketsandMarkets.jpg
View original content:https://www.prnewswire.co.uk/news-releases/anti-drone-market-worth-7-05-billion-by-2029—exclusive-report-by-marketsandmarkets-302260893.html
Artificial Intelligence
CluePoints Launches Medical & Safety Review (MSR) Software to Revolutionize Clinical Data Review
CluePoints furthers its commitment to delivering innovative solutions that enhance clinical trial efficiency with this latest addition to its enterprise software platform.
KING OF PRUSSIA, Pa., Sept. 27, 2024 /PRNewswire/ — CluePoints continues to transform clinical trial review and leverage its industry-leading software to enhance the interrogation, analysis and presentation of data with the launch of its latest application, Medical & Safety Review (MSR).
The tool simplifies and streamlines the medical analysis of study data through user-friendly dashboards, data manipulation and cleaning, query management and full transparency over the data history. This not only improves efficiency and communication in medical oversight, but also elevates patient safety, differentiating MSR as a smarter and unique solution.
Designed by, and for Medical and Safety Reviewers, MSR converts the manual analysis of patient outcomes, which can be prone to inefficiency and error, into an accurate, efficient process. MSR tackles time-consuming study preparation for specific visualizations by featuring a comprehensive standard visualization library as well as the ability to copy and reuse dashboards across different studies, enabling the identification of outlying values, change tracking, and improved communication for smarter clinical trials.
Other benefits of MSR include:
Enhanced medical review efficiency and reduced human errors via automated checksReduced time spent by clinical and data management teams in reviewing dataImproved collaboration with integrated review workflows across departmentsEnsured record quality and accountability with comprehensive change trackingDriving faster decision making with the proactive detection of trends and safety issuesEnsuring regulatory compliance with rule-based detection and user assignmentsAndy Cooper, Chief Executive Officer at CluePoints, commented, “We are thrilled to announce the launch of Medical & Safety Review to our growing product offerings. MSR is the latest application addition to the CluePoints platform, which includes products such as Risk-Based Quality Management (RBQM) and our Site Profile & Oversight Tool (SPOT). Together, they provide a comprehensive approach to clinical trial optimization, enhancing data integrity, ensuring regulatory compliance, and accelerating drug development. The creation of MSR ensures a more streamlined review process while prioritizing patient safety at every step and empowers medical teams to swiftly identify outliers, track data changes, and improve communication.”
To learn more about CluePoints’ award-winning solutions, please visit www.cluepoints.com
About CluePoints
CluePoints is the premier Risk-Based Quality Management (RBQM) and Data Quality Oversight Software provider. We are leveraging the potential of Artificial Intelligence using Advanced Statistics and Machine Learning to determine the quality, accuracy, and integrity of clinical trial data both during and after study conduct. Aligned with guidance from the FDA, EMA, and ICH E6 (R2), CluePoints is deployed to support central and on-site monitoring, medical review, quality risk management and to drive a holistic Risk-Based strategy in all trials. Coupled with thought leadership and consulting expertise to aid pre-study risk assessment, identification of risk controls and solution implementation, you now have everything you need to adhere with global regulatory guidance. The result is positive clinical development outcomes, increased operational efficiency, lower costs and reduced regulatory submission risk as part of the industry paradigm shift to RBQM.
View original content:https://www.prnewswire.co.uk/news-releases/cluepoints-launches-medical–safety-review-msr-software-to-revolutionize-clinical-data-review-302260936.html
-
Artificial Intelligence5 days ago
EC-Council Unleashes AI-Powered Ethical Hackers on Cybercrime
-
Artificial Intelligence5 days ago
IBM and NASA Release Open-Source AI Model on Hugging Face for Weather and Climate Applications
-
Artificial Intelligence5 days ago
Happiest Minds’ MD & CFO, Venkatraman Narayanan, recognized as the Leading CFO of the Year at the CII CFO Excellence Awards 2023-24
-
Artificial Intelligence5 days ago
Hospital in Greenland chooses Sectra’s radiology solution–enhanced cross-country collaboration for improved patient care
-
Artificial Intelligence5 days ago
SSCL partners with PolyAI to empower next-generation customer experience
-
Artificial Intelligence5 days ago
BITBOT1000 Revolutionizes the Digital Market Landscape with AI-Driven Solutions
-
Artificial Intelligence7 days ago
HUAWEI CONNECT 2024 | Huawei Unveils the Brand-New Xinghe Intelligent Fabric Solution, Powering the AI Era
-
Artificial Intelligence5 days ago
Luminance Expands U.S. Footprint with New Dallas Office