Artificial Intelligence
Autonomous/Driverless Car Market – Growth, Trends, COVID-19 Impact, and Forecast (2021 – 2026)
New York, July 01, 2021 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Autonomous/Driverless Car Market – Growth, Trends, COVID-19 Impact, and Forecast (2021 – 2026)” – https://www.reportlinker.com/p06101202/?utm_source=GNW
COVID-19 has also impacted the operations of many OEMs, from production to R&D creating short-term disruption delaying autonomous cars deployment and rollouts.
The recent technological advancements in the fields of artificial intelligence, machine learning, and other sensors like RADAR, LIDAR, GPS, and computer vision, have enabled manufacturers to increase self-driving capabilities in cars. Though there are varying levels of autonomy, major players are working towards more advanced control systems integrated into the car that can interpret the sensory inputs to detect signboards or avoid collisions.
Currently, most of the autonomous cars in the market belong to Level 2 and Level 3 which have advanced driver assistance systems, like collision detection, lane departure warning, and adaptive cruise control. Although Level 4 and Level 5 (as scaled by SAE) autonomous cars are unlikely to reach wide acceptance, by 2030, it is expected that there would be rapid growth for Level 2 and Level 3 autonomous cars until then. Fully autonomous cars will not reach a wide customer base unless they are entirely safe from cyber-attacks. If such concerns are addressed, the autonomous car market is estimated to have positive growth in the coming years.
Major automaker companies, technology giants, and specialist start-ups have invested more than USD 50 billion over the past five years to develop autonomous vehicle (AV) technology, with 70% of the money coming from outside the automotive industry. As public authorities understand that autonomous vehicles have vast potential and offer economic and social benefits, they will likely continue to support the concerned market.
Key Market Trends
Lidar Technologies will propel the growth of the Market
The principal components of autonomous vehicles are sensors and cameras, Lidar acts as an eye for self-driving vehicles as it provides a 360-degree view of the surrounding, which helps vehicles drive on their own, safely. It is used by many autonomous vehicles to navigate environments in real-time. Its advantages include accurate depth perception, which allows LiDAR to know the distance to an object to within a few centimeters, up to 60 meters away. It’s also highly suitable for 3D mapping, which means returning vehicles can then navigate the environment predictably a significant benefit for most self-driving technologies.
One of the key strengths of LiDAR is the number of areas that show potential for improvement. These include solid-state sensors, which could reduce its cost tenfold, sensor range increases of up to 200m, and 4-dimensional LiDAR, which senses the velocity of an object as well as its position in 3-D space. However, despite these exciting advances, LiDAR is still hindered by a key factor; its significant cost.
Following the SAE (Society of Automotive Engineers) International automated driving standards, cars with level 1-3 automation features have been considered under the market segment of semi-autonomous vehicles. Level 1 automation is a common feature in most of the current car models of major automakers, like Audi, BMW, and Mercedes-Benz. Level 2 include Models, like Volvo Pilot Assist, Mercedes-Benz Drive Pilot, Tesla Autopilot, and Cadillac Super Cruise, have been supplied with level 2 automation features. Level 3 automation is referred to as conditional automation. In level 3 automation, the autonomous cars driving system performs all the dynamic driving tasks with the expectation that the human driver will respond appropriately to a request to intervene. The dynamic driving task includes steering, breaking, accelerating, changing lanes, and monitoring the vehicle, along with responding to events happening on the road.
Even in the pandemic, autonomous cars witnessed a rise in sales, as in 2020, around 11.2 million cars were sold with level 2 features, which is an increase of 78% from 2019. To cater to the demand, automakers around the world are introducing new level 2 autonomous vehicle models. For instance,
– In April 2021, Citroen unveiled its new models, C5 X SUV. This new model was offered in both gasoline and plug-in hybrid versions. C5 X offers a semi-autonomous level 2 driving in compliance with current legislation.
North America will dominate the Market
North America is expected to dominate the market in the forecast period. Owing to factors like strong and established automotive company clusters and also being the home for the world’s biggest technology companies like Google, Microsoft, Apple, etc the region has been a pioneer regard to autonomous vehicles. Particularly in the United States, self-driving cars have already been tested and used in California, Texas, Arizona, Washington, Michigan, and other states of the United States. However, their mobility is currently restricted to specific test areas and driving conditions.
Various technology companies in the country are reaching new milestones in terms of total miles tested. For instance, Cruise LLC completed 2020 by doubling its figure of how far its cars can go before a safety driver needs to take over. The company reported 27 disengagements during the 770,000 miles testing in California. During testing in 2020, the human driver had to take over every 28,520 miles compared to every 12,221 miles last year.
Similarly, Apple Inc. completed road testing of its self-driving cars in 2020, which experienced more than double the miles traveled than in 2019, attributed to its improved autonomous technology. The company’s cars drove 18,805 miles in 2020, as compared to 7,544 miles in 2019, according to a report of the California Department of Motor Vehicles.
Apart from various local companies, the country is witnessing the entry of companies from other countries. For instance, in February 2021, Vietnam’s domestic automaker, Vinfast, announced that it had obtained a permit to test autonomous vehicles on California’s public streets. The company was seeking this permit to commercialize its electric vehicles in the US market.
Following North America, Asia-Pacific is also expected to have a positive growth in the forecast period due to the factors like China being the biggest automotive market in the world, Manufacturing capabilities of countries like Japan, South Korea, and also emerging economies like India.
Many automakers are teaming up with the local ride hailing companies to deploying their vehicle in the autonomous taxi fleet. For instance, in April 2021, Volvo Cars and DiDi Autonomous Driving, signed a strategic collaboration agreement on autonomous vehicles for DiDi’s self-driving test fleet. Volvo Cars will be providing DiDi with XC90 cars equipped with necessary backup systems for functions such as steering and braking; and along with that automaker will collaborate with DiDi Autonomous Driving to integrate the additional software and hardware required for autonomous drive.
In India automakers are partnering with institutes for the research in autonomous vehicles. For instance, in March 2021, MG Motor India joined hands with IIT Delhi’s Centre for Automotive Research and Tribology (CART) for research in the field of electric and autonomous vehicles. IIT Delhi will help MG to further focus on CASE mobility (Connected – Autonomous – Shared – Electric); through enabling supporting research for deployment of electric and autonomous vehicles in the urban landscape in India.
Competitive Landscape
Many players from the hardware to software firms in the automotive industry have started focusing on entering into the growing trend of autonomous driving technology. Thus, partnerships, collaborations, and investments toward developing autonomous vehicles increased significantly in the automotive industry over the past three years (i.e., 2018-2020). They are likely to continue growing during the forecast period, primarily due to the increasing support from governments and private sectors across several countries to promote autonomous driving vehicle technology.
In January 2021, Automotive Grade Linux announced that it had included Aicas, AVL, and Citos as new Bronze members. AGL is an open-source project at the Linux Foundation that brings together automakers, suppliers, and technology companies to accelerate the development of all technologies related to vehicles, including autonomous driving.
Similarly, in January 2021, the automotive technology company, Veoneer, Inc., and Qualcomm Technologies, Inc. have signed an agreement under which the companies will collaborate on the delivery of scalable Advanced Driver Assistance Systems (ADAS), Collaborative and Autonomous Driving (AD) solutions.
Reasons to Purchase this report:
– The market estimate (ME) sheet in Excel format
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Read the full report: https://www.reportlinker.com/p06101202/?utm_source=GNW
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Treasury officers will gain access to Kharon’s platform for sanctions-related risk intelligence
WASHINGTON, May 7, 2024 /PRNewswire/ — Kharon announces the signing of a contract with the U.S. Department of the Treasury. Through this engagement, officials within the Treasury Department will gain access to Kharon’s global risk analytics platform. Kharon’s insights and analytic tools are used by leading financial institutions, companies, and governments to address global security threats, and to support risk management in connection with KYC, transaction screening, sanctions evasion, investigations, and trade controls.
This award underscores Kharon’s commitment to helping organizations navigate the complexities of sanctions compliance and combatting sanctions evasion, including the OFAC and EU 50 percent rules, FinCEN alerts on Harmonized System (HS) codes and export control evasion, and countering terrorist financing.
Alongside a recent award with the U.S. Customs and Border Protection, this engagement with the Treasury Department expands the U.S. Government’s access to Kharon insights, data analytics, and investigative workflow tools for critical public sector security objectives.
Kharon’s expertise in generating data-driven insights will assist the Treasury Department with its mission of disrupting the financial operations that underpin the networks of foreign actors tied to global security threats, including terrorism, nuclear and missile proliferation, Russia’s invasion of Ukraine, human rights violators, transnational crime, corruption, and others. Kharon insights draw upon all available open-source information and are powered by world-class subject matter expertise and data analytics combined with cutting-edge AI and natural language processing (NLP) systems. Kharon has been awarded multiple patents for its transformative analytic and workflow tools that have helped leading banks and corporates minimize risk and maximize efficiency for critical compliance, investigative, and risk management functions.
“Effectively implementing sanctions and trade controls requires both public and private sector organizations to have the insights needed to counter evasion,” said Howard Mendelsohn, Kharon’s Chief Client Officer. “This award represents an additional step in aligning critical insights across the public and private sectors. We are proud to support the U.S. Department of the Treasury in its critical mission.”
About Kharon
Kharon helps leading organizations identify a wide range of sanctions and compliance risks, critical to managing financial crimes, supply chain exposure, export controls, investment risk, and more. Combining cutting-edge technology and data science with industry-leading research, our solutions provide the critical insights required for a comprehensive view of illicit finance and other commercial threats.
The Kharon leadership team includes former senior officials from the U.S. Government who have leveraged their unique expertise to build risk management solutions that are trusted by the world’s top financial institutions, global corporates, and professional services firms.
Visit Kharon.com and follow Kharon on LinkedIn to learn more.
Media Contacts [email protected]
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Artificial Intelligence
Imaging Endpoints Unveils New Initiative with Revolution Endpoints™, an Investment Subsidiary to Accelerate Innovation and Growth
SCOTTSDALE, Ariz., May 7, 2024 /PRNewswire/ — Imaging Endpoints (IE), a global leader in Imaging CRO technologies and services, has announced the formation of a new subsidiary, Revolution Endpoints, focused on leveraging the Company’s strong leadership and financial position to acquire synergistic technologies and services. This initiative aims to further advance the company’s internal research programs targeted toward development of cutting-edge service offerings.
Revolution Endpoints is already meticulously evaluating emerging technologies for adoption while exploring licensing, partnership, or acquisition of the most promising and synergetic opportunities. By identifying and integrating emerging technologies that complement internal development efforts and existing services, Imaging Endpoints intends to ensure it continues to lead the industry in service offerings.
Doug Dean Burkett, CEO and President of Imaging Endpoints commented: “For fifteen years we have been relentlessly executing on a consistent, unwavering strategy to organically grow our leadership in oncology-focused imaging CRO services. We are now generally recognized as leading the industry in science and quality, and our efforts have yielded remarkable growth. We are fortunate to be in a position to invest in emerging technologies that are synergistic with our own development projects and our vision to Connect Imaging to the Cure™. Through this new subsidiary, we are excited to explore new frontiers, support transformative ideas, and continue our mission of advancing healthcare and improving patient outcomes.”
IE believes in the power of collaboration and innovation to drive progress in the fight against cancer. Revolution Endpoints is engaging with emerging technology leaders within AI assisted image evaluation, quantitative biomarkers, big datasets, predictive analytics and NLP, 3D imaging, AR, VR, AI enhanced enterprise automation, and blockchain technology that have potential to further streamline and improve both image workflows and efficacy analysis. Service providers with synergistic technologies and service offerings may also be of interest.
For more information about Revolution Endpoints or to discuss your emerging technology with our experts, please visit Revolution Endpoints or contact us at [email protected].
About Imaging Endpoints
Imaging Endpoints (IE) is passionately focused on its vision to Connect Imaging to the Cure. With a flawless global inspection record and a 95% marketing authorization success rate, IE has a proven track record of supporting successful regulatory submissions across the globe. IE’s commitment to quality, innovation, and excellence has positioned it as the global leader in oncology imaging.
Imaging Endpoints is the largest oncology-focused Imaging CRO, with 8 offices strategically located across 6 countries including Scottsdale, AZ, Cambridge, MA; London, UK; Leiden, Netherlands; Basel, Switzerland; Hyderabad, India; and Shanghai, China.
IE is an affiliate of HonorHealth, one of the largest healthcare systems nationally, and also an affiliate of Southwest Medical Imaging, Ltd. (SMIL/RadPartners), part of the largest private radiology group in the U.S.
Media Contact
Contact No: 480.314.3070
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Global commodities intelligence provider launches generative AI assistant to boost access to expert insights and data around the global energy and chemicals markets
LONDON, May 7, 2024 /PRNewswire/ — ICIS, a global source of commodity intelligence, announced the launch of Ask ICIS, a first of its kind generative AI assistant that will enhance access to ICIS’ standout intelligence and insights for the energy and chemicals markets.
As commodity markets become more complex and dynamic, the need for both highly accurate and up-to-the-minute information has never been more important. Underpinned by unparalleled chemical and energy market datasets and decades of editorial expertise, Ask ICIS combines ICIS’ vast market intelligence with the power of generative AI technology.
Currently in beta, Ask ICIS is available in multiple languages and supported with citations, Ask ICIS allows customers to delve deeper, supporting timely, confident strategic decision-making with comprehensive market intelligence.
“At ICIS, we are committed to delivering the best possible intelligence to our customers so that they can arrive at the best possible outcomes for the decisions they need to make,” said Jeff Skelton, CEO of ICIS. “Through Ask ICIS, we are taking our ambition one step further by unlocking access to our trusted and actionable insights to provide immediate and personalized responses to complex customer enquiries in a fraction of the time. We are committed to helping our customers adopt and scale new technologies, enabling them to make better decisions and bring the maximum value possible to their organizations.”
Sourced exclusively from ICIS’ expert data and insight, Ask ICIS connects users to content tailored directly to their needs based on their role, region, and priorities. Source citations are built into every response allowing users to delve deeper and enabling more confident, timely, strategic decision-making. In addition, Ask ICIS also provides bespoke suggested prompts and follow-up questions to allow users to uncover additional insights and “unknown unknowns” to gain an unprecedented view and understanding of market events.
“To drive success in today’s commodity markets you need to have the most innovative tools and information at your disposal,” said Skelton. “We strongly believe that Ask ICIS not only helps our customers achieve new goals and levels of performance but has also sets a new bar for the way commodity markets can now access intelligence.”
For more information on ICIS please visit, www.icis.com. For more information on Ask ICIS, or if you are an ICIS customer interested in joining the beta progam, please visit: https://www.icis.com/explore/contact/ask-icis/.
About ICIS
ICIS – Independent Commodity Intelligence Services – helps businesses through seamlessly delivering data and analytics, across the chemical, and energy markets. A trusted source and benchmark for price information and insight across key commodities markets worldwide. Our independent, transparent market intelligence informs thousands of quality decisions every day, taking the pressure out of negotiations and giving customers space for more innovative thinking, through published datasets including price assessments, price forecasts, supply and demand fundamentals and more.
Over 150 years of shaping the world by connecting markets to optimise the world’s valuable resources. With a global team of more than 600 experts, ICIS has employees based in London, New York, Houston, Karlsruhe, Milan, Mumbai, Singapore, Guangzhou, Beijing, Shanghai, Dubai, Sao Paulo, Seoul, Tokyo and Perth.
ICIS is part of RELX, a FTSE15 company with a market cap of $78.2bn and an employee base of over 30,000 experts across 40 countries.
About RELX
RELX is a global provider of information and analytics for professional and business customers across industries. The Group serves customers in more than 180 countries and has offices in about 40 countries. It employs approximately 30,000 people of whom almost half are in North America. RELX PLC is a London listed holding company which owns 52.9% of RELX Group. RELX NV is an Amsterdam listed holding company which owns 47.1% of RELX Group. The shares are traded on the London, Amsterdam and New York Stock Exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RELX and RENX. Total market capitalisation is approximately £62.4bn | €73bn | $78.2bn.
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