Connect with us
European Gaming Congress 2024

Artificial Intelligence

Global Vehicle Battery Market Report 2021: Integrating Advanced Battery Management Systems will Keep Key Players Ahead in the Game – Forecast to 2030

Published

on

Dublin, April 20, 2021 (GLOBE NEWSWIRE) — The “Vehicle Battery Market – Global Industry Analysis (2019 – 2020), Growth Trends and Market Forecast (2021 – 2030)” report has been added to ResearchAndMarkets.com’s offering.

A recent report states that the global vehicle battery market is expected to register a CAGR of 4.64% between 2021 and 2030.

This steady growth will be attributable to the increasing demand for efficient vehicles to reduce the burden of carbon emissions as the world seeks to better the air quality.

The rapid pace of electrification in the automotive industry is also expected to fuel the global vehicle battery market in the coming years. Quick uptake of novel technologies such as autonomous driving, connected devices, electrification of powertrains, and shared mobility are all anticipated to fuel the vehicle battery market in top gear.

Key Highlights for Global Vehicle Battery Market:

  • Global vehicle battery market to reach a valuation of US$43.48 Bn by 2030
  • Plug-in hybrid (PHEV) and battery electric vehicle (BEV) to collectively register a growth rate of over 18% during the forecast
  • Lithium-ion battery segment to outperform with a CAGR of over 16% over the forecast period due to its compact size and better efficiency
  • Asia Pacific is envisaged to post significant CAGR with the presence of large battery manufacturers in China that dominate the lithium-ion battery production
  • The market is expected to remain consolidated amongst top key players retaining nearly 50% of the market share due to technological skillset advantage and high capital expenditure.

Fuel-saving Technologies Bring Spotlight on Electric and Hybrid Cars Propelling Vehicle Battery Sales

Advancement in battery management systems is expected to be a key growth factor in the rise of the vehicle battery market. Government bodies across the globe are declaring stringent regulations against carbon emission, driving manufacturers to heavily invest in the development of electric motors that will reduce the amount of carbon emissions.

Advertisement

In line with this trend, several automakers are investing in the production of electric vehicles and hybrid cars. As the sale of electric vehicles soars, analysts anticipate that it will directly drive the market for vehicle batteries. Integration of high-end electric components in vehicles is also expected to propel the global market in the coming years. The regulatory frameworks such as the Clean Air Act and Euro 6 that demand strict compliance will prove to be essential to the market growth.

Underdeveloped Infrastructure to Pose a Threat to Vehicle Battery Market

The global vehicle market is expected to face hindrance as many components of a battery are expensive. This not only makes the cost of batteries expensive but also adds to the selling price of the vehicle. The unaffordability of electric vehicles has been identified as a restraining factor for the global market.

Furthermore, the global vehicle battery market is also likely to be tugged in the opposite direction as infrastructure for charging remains underdeveloped in most parts of the world. In many ways, the inability to ensure adequate charge in vehicles for smooth, long-duration drives is chipping away consumer confidence.

Lithium-Ion Batteries to Disrupt Market with Superior Qualities

Advertisement

Lithium-ion batteries are expected to outperform in the global vehicle battery market. Best known for offering high-energy density and being light in weight, the demand for lithium-ion batteries is projected to skyrocket with increasing interest in electric vehicles. Over the years, the cost of lithium-ion batteries has dropped significantly, which is expected to help the market expand too. The long life of these batteries will push their usage, making the segment emerge as the leading one over the forecast period.

Asia Pacific to Lead as China Remain Key Production Hub

The global vehicle battery market will clearly be led by Asia Pacific as 45% of the battery manufacturers are based in China. Emerging economies such as India and China have a large automotive base, which makes this region an evident leader. According to the author, about 80% of the demand for vehicle batteries stemmed from Japan, Korea, and China in 2018, while demand across Europe remained low. Favourable government schemes that are supporting manufacturing activities across Asia Pacific are also expected to indirectly boost this market.

Integrating Advanced Battery Management Systems will Keep Key Players Ahead in the Game

Key players in the global vehicle battery market are extensively investing in the research and development of solid-state battery technology, high-density lithium-ion batteries, and others that deliver longer range charge in lesser time. Players are also investing in producing advanced battery management systems to stay ahead of the competition.

Advertisement

For instance, Panasonic, India, launched Nymbus, a charging system that is equipped with artificial intelligence solutions, cloud analytics, telematics, swap stations and charging stations. The company aims to offer a comprehensive solution to the growing mobility market in India that is to rely on EVs in the coming years.

The key players operating in the global vehicle battery market are

  • BYD Company Ltd.
  • C & D Technologies, Inc.
  • Clarios (Johnson Controls International PLC)
  • Contemporary Amperex Technology Co., Limited.
  • EnerSys
  • GS Yuasa Corporation
  • LG Chem

For more information about this report visit https://www.researchandmarkets.com/r/3dbjuy


GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Artificial Intelligence

TraceLink Releases Amadeus, the First Generative AI Assistant for Accelerating the Digitalization of Supply Networks on the Opus Platform

Published

on

tracelink-releases-amadeus,-the-first-generative-ai-assistant-for-accelerating-the-digitalization-of-supply-networks-on-the-opus-platform

Trained on a rich set of information from a unified content repository, Opus Orchestration Architects, Solution Designers, Network Administrators, and those simply interested in learning more about TraceLink’s solutions are empowered with information in seconds
BOSTON, Oct. 1, 2024 /PRNewswire/ — TraceLink, the largest end-to-end digital network platform for intelligent orchestration of the supply chain, today announced the launch of Amadeus, an AI Assistant to help users across the supply chain configure and optimize supply networks. Powered by advanced Large Language Model (LLM) algorithms, Amadeus allows users to find answers across a large volume of the TraceLink University educational content ecosystem, including developer resources, educational “how-to” materials, and technical documentation, delivering detailed, accurate responses tailored to their needs.

Whether navigating through extensive resources, searching for specific content, or exploring related topics, Amadeus provides intelligent answers drawn from a knowledge base refreshed on a daily basis. Its advanced search capabilities and context-aware assistance with source URL and citations ensure a smooth, reliable, current, and efficient content discovery process. With instant access to TraceLink University documents, educational whitepapers, case studies, and more, Amadeus delivers quick, within-seconds responses tailored to specific customer use cases, helping users solve complex business problems with confidence.
“With Amadeus, we are offering a powerful way for customers to engage with the wealth of knowledge within TraceLink University,” said Shabbir Dahod, President and CEO at TraceLink. “By integrating generative AI and LLMs with our extensive content library, Amadeus helps users to quickly find the information they need to optimize their supply chain operations. This is just the beginning of how TraceLink aims to harness AI to further transform supply chain management in the future.”
Amadeus’ AI functionality is further enriched by its robust safeguards. Built-in guardrails and alignment with OpenAI’s safety protocols verify that responses are relevant and accurate, eliminating AI hallucinations and keeping users on track. With these AI safety features built into Amadeus, users receive the most applicable and trusted answers, helping them make informed decisions in real-time. Looking forward, Amadeus will securely integrate content from customers’ own orchestration networks, thereby enabling a powerful AI-driven experience on top of end-to-end supply chain network intelligence to leverage predictions to drive business results.
Learn more about TraceLink’s Opus Magnum release, the only no-code network digitalization platform designed to democratize access to end-to-end supply chain integration and orchestration.
See Opus Magnum live at FutureLink Barcelona 2024, the only thought-leadership, education, and networking event for life sciences and healthcare leaders needing critical intelligence and better collaboration across supply chain relationships, from October 2-4, 2024. With keynotes headlined by the industry’s top thought leaders, a full day of TraceLink University educational sessions, three orchestration tracks led by customers and solution partners, and an immersive product and solution exhibition, this year’s FutureLink will focus on the end-to-end digitalization of your supply chain to link your enterprise systems and processes to the network. Register now.
About TraceLink:
TraceLink Inc. is the largest end-to-end intelligent supply chain platform for life sciences and healthcare, enabling end-to-end orchestration by connecting more than 291,000 healthcare and life sciences entities through its B2N Integrate-Once™ network. Leading businesses trust TraceLink to deliver complete global connectivity, visibility, and traceability of healthcare products, ensuring that every patient gets the medicines they need when needed, safely and securely.
Logo – https://mma.prnewswire.com/media/1004729/TraceLink_Logo.jpg

View original content:https://www.prnewswire.co.uk/news-releases/tracelink-releases-amadeus-the-first-generative-ai-assistant-for-accelerating-the-digitalization-of-supply-networks-on-the-opus-platform-302262931.html

Continue Reading

Artificial Intelligence

ResourceWise Launches Forest Trackt™: A Comprehensive Solution for EUDR Compliance

Published

on

resourcewise-launches-forest-trackt™:-a-comprehensive-solution-for-eudr-compliance

CHARLOTTE, N.C, Oct. 1, 2024 /PRNewswire/ — ResourceWise®, a leading provider of pricing, market intelligence and sustainability solutions, is proud to announce the launch of Forest Trackt™, an end-to-end compliance solution designed to help companies adhere to the European Union Deforestation Regulation (EUDR). This innovative technology is set to transform how businesses demonstrate supply chain transparency.

Forest Trackt integrates advanced technology, including automated geo-location of source coordinates, machine learning, and advanced algorithms, to enable businesses to trace the origins of wood-based commodities accurately. Forest Trackt enhances transparency across the supply chain, providing a robust framework for meeting the stringent requirements of the EUDR.
Key features of Forest Trackt include:
Geo-Location Data Acquisition: Employs the user-friendly ForestLogger mobile app to collect precise geo-location data with no cellular connection. This ensures accurate and efficient data gathering and polygon definition, even in remote areas.Point-to-Polygon JSON Files: Automates the creation of required geo-location data files to comply with EUDR. One significant challenge for EUDR compliance is the requirement to provide vast amounts of geo-location data. Forest Trackt replaces manual data entry, reducing cost and errors while providing more accurate data and ensuring full traceability of wood-based products.Predictive Risk Assessment: Offers multi-factor risk assessment to pre-qualify tracts, conduct the required risk assessment, and demonstrate a robust risk management program as required by EUDR.Tokenization System: Tracks wood-based raw materials from the forest through the supply chain to the end product and market, solving the many-to-many problem of forest and sawmill residuals.Centralized Data Package Delivered to the EU: Transfers all data from a centralized database to the EU via API.Forest Trackt is engineered to streamline compliance, minimizing manual workload while maximizing compliance accuracy and assuring audit readiness. Businesses that adopt this solution can look forward to increased efficiency and reduced risk of non-compliance penalties, thus future-proofing themselves against evolving regulatory landscapes.
“The penalties for failing to comply with EUDR are steep. For example, US manufacturers of pellets, pulp, paper, and lumber have roughly $4 billion in revenue at risk. At ResourceWise, we recognize the challenges companies face in implementing transparency standards,” said Pete Stewart, CEO of ResourceWise. “With Forest Trackt, we aim to simplify compliance processes and empower businesses to achieve their sustainability goals with confidence and ease.”                                                                             
“The regulatory environment for the forest products industry is becoming more complex,” said Stewart. “With the launch of Forest Trackt, ResourceWise continues its commitment to helping those in the forest products industry meet their financial and sustainability goals.”
For more information about Forest Trackt and how it can benefit your business, visit www.resourcewise.com/foresttrackt.
Contact:
Suz-Anne KinneyVice President, MarketingResourceWisePhone: +1 704 451 7312Email: [email protected]
About ResourceWise:
ResourceWise is a commodity price reporting agency with proprietary datasets and deep expertise in forest products, biofuels and low-carbon feedstocks, biomaterials, and chemicals industries. We help our customers make better decisions by providing accurate data and analytics, which we supplement with strategic consulting. Because our markets are energy-intensive, we use our data and expertise to help our customers identify and navigate decarbonization pathways and industry-related regulatory requirements. 
ResourceWise legacy companies include Chemical Intelligence, Fisher International, Forest2Market, Prima Markets, Tecnon OrbiChem, and Wood Resources International.  

View original content:https://www.prnewswire.co.uk/news-releases/resourcewise-launches-forest-trackt-a-comprehensive-solution-for-eudr-compliance-302260319.html

Continue Reading

Artificial Intelligence

VIPRE Introduces All-in-one Endpoint EDR+MDR Package to Help Deliver Around-the-clock Managed Security

Published

on

vipre-introduces-all-in-one-endpoint-edr+mdr-package-to-help-deliver-around-the-clock-managed-security

Simplified, cost-effective package empowers Managed Service Providers to enter the endpoint MDR market.
LONDON, Oct. 1, 2024 /PRNewswire/ — VIPRE Security Group, a global leader and award-winning cybersecurity, privacy, and data protection company, today launched a new combined VIPRE Endpoint EDR+MDR package. This single, simplified, and streamlined managed protection package provides organisations of all sizes with cost-effective, advanced, and around-the-clock endpoint security. For managed service providers (MSPs), this solution provides a genuine opportunity for portfolio expansion to offer Managed Detection & Response (MDR) services to customers.

With this powerful all-in-one VIPRE Endpoint EDR+MDR solution, organisations receive top-tier Endpoint Detection & Response (EDR) capabilities, such as threat detection, DNS protection, ransomware rollback, patch, and vulnerability management — alongside a fully managed threat incident response led by an experienced forensics team. This includes 24x7x365 coverage backed by stringent service level agreement guarantees, managed containment and remediation, threat hunting and forensic analysis, and more.
“This new packaged solution directly addresses the security and budgetary challenges identified by our customers and MSP channel partners,” Usman Choudhary, General Manager and CTPO at VIPRE Security Group, elaborated. “The security landscape is complex and challenging. Organisations face escalating threats while dealing with budget limitations. The need for continuous, advanced threat monitoring and remediation strains both security teams and financial resources. Our integrated EDR and MDR solution addresses these challenges cost-effectively, while also reducing the overall total cost of ownership of these solutions.”
“Similarly, many MSPs find it difficult to supplement their EDR offerings with MDR services, which demand specialised cybersecurity expertise. Our new package enables MSPs to enter the MDR market efficiently, enabling them to meet clients’ evolving security needs without the substantial investment of building an in-house MDR team.”
Both VIPRE solutions, EDR and MDR, will also remain available individually.
About VIPRE Security Group
VIPRE Security Group, part of Ziff Davis, Inc., is a leading provider of internet security solutions purpose-built to protect businesses, solution providers, and home users from costly and malicious cyber threats. With over 25 years of industry expertise, VIPRE is one of the world’s largest threat intelligence clouds, delivering exceptional protection against today’s most aggressive online threats. Our award-winning software portfolio includes next-generation antivirus endpoint cloud solutions, advanced email security products, along with threat intelligence for real-time malware analysis, and security awareness training for compliance and risk management. VIPRE solutions deliver easy-to-use, comprehensive layered defense through cloud-based and server security, with mobile interfaces that enable instant threat response. VIPRE is a proud Advanced Technology Partner of Amazon Web Services, operating globally across North America and Europe.
The group operates under various brands, including VIPRE®, StrongVPN®, IPVanish®, Inspired eLearning®, Livedrive®, and SugarSync®. www.VIPRE.com
 

View original content:https://www.prnewswire.co.uk/news-releases/vipre-introduces-all-in-one-endpoint-edrmdr-package-to-help-deliver-around-the-clock-managed-security-302262486.html

Continue Reading

Trending