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Smart Transportation Market Worth $33.6 Billion by 2028 – Market Size, Share, Forecasts, & Trends Analysis Report with COVID-19 Impact by Meticulous Research®

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Redding,  California, Sept. 15, 2021 (GLOBE NEWSWIRE) — According to a new market research report titled “Smart Transportation Market by Transportation Mode, Product Type, Application (Mobility as a Service, Route Information, Route Guidance, Public Transport, Transit Hubs, Connected Cars), and Region — Global Forecast to 2028,” published by Meticulous Research®, the smart transportation market is expected to grow at a CAGR of 17.5% from 2021 to 2028 to reach $33.6 billion by 2028.

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According to the US Department of Transportation, “Intelligent Transportation Systems (ITS) apply a variety of technologies to monitor, evaluate, and manage transportation systems to enhance efficiency and safety.” Smart transportation can be defined as an advanced technology application that aims to provide innovative services associated with different modes of transport and traffic management that allow users to effectively utilize the modern transportation system.

Smart transportation systems facilitate better informed, safer, more coordinated, and smarter use of transport networks. These systems use advanced information and communication technologies applied to vehicles and transport infrastructure to help improve traffic management, minimize congestion, improve safety, reduce the impact of maintenance activities, and ultimately provide a more intelligent use of transport networks. Smart transportation is an integral part of modern-day smart city projects and hence, are gaining much-required traction in recent years, propelling the overall market growth.

The growth of this market is attributed to the government initiatives towards reducing greenhouse gas emissions, rising urbanization, increasing demand for efficient transportation, and technological advancements to enhance customer experience. In addition, the emergence of autonomous vehicles, increasing investments in smart city projects, and decline in vehicle ownership with the advancement of MaaS offers significant growth opportunities for the smart transportation market. However, the lack of standardized and uniform technology obstructs the growth of this market to some extent.

The Impact of COVID-19 on the Smart Transportation Market

In the first quarter of 2020, the world was hit by a COVID-19 pandemic. The outbreak was declared as a global pandemic by WHO, as it has spread in many countries across the globe and raised the number of cases multi-folds in few weeks. The COVID-19 pandemic has adversely hit many economies around the globe. The combat measures like complete lockdown and quarantine to fight against COVID-19 have put a strong adverse impact on many businesses across the globe, including the smart transportation market.

The effects of COVID-19 are being felt across the transportation sector. From maritime transportation to airlines, all modes of transportation felt the brunt of the pandemic. Travel restrictions were put in place to minimize the spread of the virus, which hindered the capability of companies to transport passengers from different places. As a result, transportation revenues dropped significantly, resulting in the deduction of wages and transport companies shutting their operation because of bankruptcy.

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To control the spread of COVID-19, countries placed restrictions on domestic transit and/or closed border crossings for road freight transport services. The maritime industry has largely proved resilient to the COVID-19 outbreak. Despite the crises, a vast majority of ports have succeeded in staying open to cargo operations. However, most of them remained closed for passenger traffic. Despite disruptions at ports, the shipping industry has largely continued to operate worldwide, facilitating essential supplies and medicines.

Transportation was among the most affected sectors globally. Transportation companies and governments faced several challenges to gain the customers’ trust back in them and safeguard their safety and security. Since the transport industry is among the most vulnerable and affected industries during the pandemic, it is anticipated that it will recover with a considerable growth rate over the forecasted period. Since transport is the most decisive cornerstone for a city’s functionality, development, and prosperity, revolutionizing transport transforms the concept of the city. Urban structure and transport system developments are closely connected, as evidenced by theories like the urban land rent theory and location theory, which conceptualize the connection between transport and urban land use.

Rising urbanization and demand for efficient transportation expected to drive the smart transportation market

Presently, more than half of the world’s population lives in urban areas. The migration of human resource towards cities is expected to continue at an even faster pace over the next few decades. By 2050, the global population is projected to reach around 9.8 billion, and it is estimated that more than twice as many people in the world will be living in urban (6.7 billion) than in rural settings (3.1 billion). Mobility provision and its impact on urban development can be significantly improved by employing intelligent transport systems in general and automated transport in particular. Also, as the cities grow in dimension, people will move to shop and access other social needs/wants, which often cause unavoidable congestion.

The challenge of congestion is a perennial issue for cities worldwide and is consistently getting more complex with every passing year. The increasing population in cities is straining urban transportation systems. People who live and work across major cities of the world are faced with increasing levels of congestion, delays, total travel time, costs, frustration, accidents, and loss of life. According to the INRIX (2018) Global Traffic Scorecard that analyzed congestion and mobility trends for over 200 cities across 38 countries, over half of the cities registered over 100 hours lost in congestion per driver per year. For instance, Americans lost 99 hours a year due to congestion, costing nearly USD 88 billion in 2019, an average of USD 1,377 per year.

Smart transportation utilizes information technology and artificial intelligence to efficiently manage and coordinate urban transportation systems. Artificial intelligence (AI) is a powerful concept still in its infancy that has the potential, if utilized responsibly, to provide a vehicle for positive change that could promote sustainable transitions to a more resource-efficient livability paradigm. AI interventions have potential applications for the vehicle, the infrastructure, the driver, or transport user, particularly for how these interact dynamically to deliver a transport service that promotes user empowerment and supports human-machine interactions. The provision of mobility solutions for battling congestion, pollution, and environmental degradation through AI technology that is capable of providing better, faster, cleaner, and cheaper ways to move around is the pillar, together with telecommunication and energy applications, of what we call smart cities and the way forward for urban science.

Quick Buy – Smart Transportation Market Research Report: https://www.meticulousresearch.com/Checkout/99509397

Many cities are already adopting major smart transportation infrastructure. For instance, Seoul promoted smart public transport and raised their mass transit ridership from 30% to 70%. Implementation of programs such as advanced intelligent transportation systems, bus management systems, and GPS has helped the city mitigate the age-old problem of traffic management. In another instance, Germany invested EUR 9 billion to deploy and promote e-carsharing and EV fleets to counter traffic issues in Berlin.

To provide efficient analysis, Meticulous Research® has segmented this market based on transportation mode (roadways, railways, airways, and maritime), product type (solution (smart ticketing & toll, parking management, traffic management, passenger information, freight information, telematics, and others)) & (services (consulting, deployment & integration, support & maintenance), application (mobility as a service, route information and route guidance, public transport, transit hubs, connected cars, and others), and geography (Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa).

Based on transportation mode, the roadways segment is estimated to account for the largest share of the overall smart transportation market in 2021. The large share of this segment is attributed to the growing focus on developing better and sustainable roadways, government initiatives for promoting smart public road transportation, increasing demand for safer roads, and better traffic management to avoid congestion. In addition, the growing emphasis on the adoption of smart cities and green public transport is also contributing to the market growth. However, the railways segment is expected to grow at the highest CAGR during the forecast period due to the growing inter or intra country cargo transportation and increasing demand for smart railway solutions with enhanced safety, reliability, and operational efficiency.

Based on product type, the solutions segment is estimated to account for the largest share of the overall smart transportation market in 2021. Increasing concerns toward public safety, growing traffic congestion problems, favorable government initiatives for effective traffic management, increasing adoption of eco-friendly automobile technologies, and rising investment in smart city projects are expected to drive the growth of smart transportation solutions. However, the services segment is expected to grow at a higher CAGR during the forecast period.

Based on application, the route information and route guidance segment is estimated to account for the largest share of the overall smart transportation market in 2021. Increasing demand to monitor various modes of transportation, controlling traffic congestion, and increasing road accidents are the major factors driving the demand for the segment. Besides, the connected cars segment is expected to grow at the fastest CAGR during the forecast period. The rise in consumer demand for connectivity solutions and the surge in need for constant connectivity are the key factors contributing to market growth.

Geographically, Europe is expected to command the largest share of the global smart transportation market in 2021. Consistently growing government investments in improving the region’s urban transport and traffic system, especially in the U.K and France, helped the region emerge as the leading global smart transportation market. Moreover, increasing cross-border trade also supported the traffic in the region, promoting the demand for smart transportation in the European economies. Besides, the Asia-Pacific region is projected to grow at the highest CAGR in the forecasted period. Progressive investments by countries such as India, Japan, and China in megacities to modernize their transportation networks for facilitating enhanced trade exchanges and multiple smart city projects across Asia-Pacific are helping the region grow faster.

The key players operating in the global smart transportation market are Thales Group (France), Huawei Technologies Co., Ltd. (China), Siemens AG (Germany), IBM Corporation (U.S.), Cisco Systems, Inc. (U.S.), SAP SE (Germany), Cubic Corporation (U.S.), Alstom (France), Bentley Systems, Inc. (U.S.), Toshiba Corporation (Japan), Harris Corporation (U.S.), Saab AB (Sweden), Veson Nautical (U.S.), BASS Software Ltd. (Norway), Indra Sistemas (Spain) and among others.

To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/smart-transportation-market-5199

Scope of the Report

Smart Transportation Market, by Transportation Mode              

  • Roadways
  • Railways
  • Airways
  • Maritime

Smart Transportation Market, by Product Type                                          

  • Solutions
    • Smart Ticketing & Toll
    • Parking Management
    • Traffic Management
    • Passenger Information
    • Freight Information
    • Telematics
    • Others
  • Services
    • Consulting
    • Deployment and Integration
    • Support and Maintenance

Smart Transportation Market, by Application

  • Mobility as a Service
  • Route Information and Route Guidance
  • Public Transport
  • Transit Hubs
  • Connected Cars
  • Others

Smart Transportation Market, by Geography

  • North America
      • U.S.
      • Canada
  • Europe
      • U.K.
      • Germany
      • France
      • Italy
      • Sweden
      • Denmark
      • Rest of Europe
  • Asia-Pacific
      • China
      • India
      • Japan
      • Singapore
      • Malaysia
      • Indonesia
      • Rest of Asia-Pacific
  • Latin America
      • Brazil
      • Mexico
      • Rest of Latin America
  • The Middle East and Africa
      • UAE
      • Israel
      • Rest of MEA

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     Amidst this crisis, Meticulous Research® is continuously assessing the impact of COVID-19 pandemic on various sub-markets and enables global organizations to strategize for the post-COVID-19 world and sustain their growth. Let us know if you would like to assess the impact of COVID-19 on any industry here- https://www.meticulousresearch.com/custom-research

Related Report:

Smart Cities Market by Application (Smart Utilities, Smart Transportation, Water Management, Waste Management, Smart Healthcare, Smart Lighting, Smart Education), Component (Hardware, Software, and Services), and Geography – Global Forecast to 2027

https://www.meticulousresearch.com/product/smart-cities-market-5087

About Meticulous Research®

Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.

Contact:
Mr. Khushal Bombe
Meticulous Market Research Inc.
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Artificial Intelligence


More than $9 Million Awarded to High School Scientists and Engineers at the Regeneron International Science and Engineering Fair 2024





 






Published
 1 day ago 
on
 May 17, 2024





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Grace Sun, 16, receives $75,000 Top Award for a new kind of organic electrochemical transistor at the world’s largest pre-college science, technology, engineering and math (STEM) competition.

TARRYTOWN, N.Y. and WASHINGTON, May 17, 2024 /PRNewswire/ — Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) and Society for Science (the Society) announced that Grace Sun, 16, of Lexington, Kentucky, won the $75,000 top award, the George D. Yancopoulos Innovator Award, named in honor of the pioneering drug researcher and Regeneron co-Founder, Board co-Chair, President and Chief Scientific Officer, in the 2024 Regeneron International Science and Engineering Fair (Regeneron ISEF), the world’s largest pre-college science and engineering competition. Other top prizes went to projects in second-order cone programming, microplastics filtration and multi-sensory therapy for dementia.


The top winners were honored during two award ceremonies: the Special Awards on May 16 and the Grand Awards Ceremony on the morning of May 17. In total, over $9 million USD was awarded to the finalists based on their projects’ creativity, innovation and depth of scientific inquiry. The competition featured nearly 2,000 young scientists representing 49 U.S. states and nearly 70 countries, regions and territories across the world.

Grace Sun, 16, of Lexington, Kentucky, won first place and received the $75,000 George D. Yancopoulos Innovator Award for her research on building a better organic electrochemical transistor that she hopes will be used to develop new electronic devices that could help detect and treat serious illnesses like diabetes, epilepsy and organ failure. To overcome the problems that have previously prevented such devices from working effectively inside the body, Grace developed a new way of chemically treating their organic components, which greatly improved their laboratory performance.

Michelle Wei, 17, of San Jose, California, received one of two Regeneron Young Scientist Awards of $50,000 for her research to improve the speed and efficiency of a type of software that is useful in many fields such as machine learning, transportation and financial systems. Michelle’s new approach involved determining a quick approximate solution to the second-order cone programming problem, then splitting the initial cone into smaller cones, which enabled her new algorithm to greatly outperform previous approaches.

Krish Pai, 17, of Del Mar, California, received the second Regeneron Young Scientist Award of $50,000 for his machine-learning research to identify microbial genetic sequences that can be modified to biodegrade plastic. His new software, called Microby, scans databases of microorganisms and determines which ones can be changed genetically to biodegrade plastics. In tests, he identified two microorganisms that can be genetically modified to degrade plastic at a cost he believes would be ten times less than traditional recycling.

 “Congratulations to the Regeneron International Science and Engineering Fair 2024 winners,” said Maya Ajmera, President and CEO, Society for Science and Executive Publisher, Science News. “I’m truly inspired by the ingenuity and determination shown by these remarkable students. Coming from around the world with diverse backgrounds and academic disciplines, these students have shown that it is possible to come together in unity to tackle some of the toughest challenges facing our world today, and I could not be prouder.”

Regeneron ISEF provides a global stage for the world’s best and brightest young scientists and engineers. Through this competition, Regeneron and the Society are fostering the next generation of STEM leaders who are pioneering solutions to improve our world. Since 2020, Regeneron has provided STEM experiences to approximately 2.4 million students, on track to meet its goal of 2.5 million by 2025.

“The talent, intelligence and potential of this year’s Regeneron ISEF finalists is truly inspiring, and I congratulate each on their remarkable achievements,” said George D. Yancopoulos, M.D., Ph.D., co-Founder, Board co-Chair, President and Chief Scientific Officer of Regeneron. “Science competitions like ISEF were pivotal in shaping my own career and fueling my passion to fight back against disease. I look forward to seeing these students continue to push the boundaries of science and technology to create positive and sustainable change for all humanity.”

Other top honors from the competition include:

Justin Huang and Victoria Ou, both 17, of Woodlands, Texas, received the Gordon E. Moore Award for Positive Outcomes for Future Generations of $50,000 for their new prototype filtration system that uses ultrasonic waves to remove microscopic plastic particles from water. In lab tests, the acoustic force from the high-frequency sound waves removed between 84% and 94% of the suspended microplastic particles in a single pass. The students are now working to scale up and fine-tune their experimental system.

Ingrid Wai Hin Chan, 17, of Hong Kong, China received the Craig R. Barrett Award for Innovation of $10,000 for her research on using a multi-sensory therapy for dementia patients. Her mixed therapy app would allow patients to practice physical and cognitive skills through a personalized, immersive environment using virtual reality headsets. Ingrid conducted an eight-week study with six people living with dementia and found that the cognitive function of patients who used her prototype improved in several areas. She believes her app could serve as a viable option for dementia patients with limited access to in-person professional therapy.

Tanishka Balaji Aglave, 15, of Valrico, Florida, received the H. Robert Horvitz Prize for Fundamental Research of $10,000 for her investigation into a natural alternative treatment against citrus greening, a disease that threatens citrus farming in many parts of the world and is currently only treated with antibiotics. Tanishka injected the trunks of infected trees with an extract from the curry leaf tree, and found through tests that this potential method could effectively and sustainably manage citrus greening disease.

Maddux Alexander Springer, 18, of Honolulu, Hawaii, received the Peggy Scripps Award for Science Communication of $10,000 for his research into fibropapillomatosis (FP), a disease that is the primary cause of death in green sea turtles. Some turtles he studied in Kaneohe Bay, Hawaii, were stricken with a disease that causes internal and external tumors that inhibit their everyday lives. After analyzing the turtles’ diet of green algae, Maddux concluded that this disease, wastewater, invasive algae and the amino acid arginine all pose a grave risk to these endangered sea creatures.

Ria Kamat, 17, of Hackensack, New Jersey; Anna Oliva, 17, of Houston, TX; and Shuhan Luo, 18, of Worcester, MA, received the Dudley R. Herschbach SIYSS Award, which provides finalists an all-expense paid trip to attend the Stockholm International Youth Science Seminar during Nobel Week in Stockholm, Sweden.

Jack Shannon, 18, of Clane, Kildare, Ireland, and Nikhil Vemuri, 17, of Cary, North Carolina, received the EU Contest for Young Scientists Award. Their projects will represent Regeneron ISEF at the EU Contest for Young Scientists to be held this September in Katowice, Poland.

For more information about the top winners and access to visual assets visit:  https://www.societyforscience.org/isef-2024-media-kit.

The full list of Special Award ISEF 2024 Finalists can be found at https://www.societyforscience.org/press-release/regeneron-isef-2024-special-awards-winners.

In addition to the Top Award winners, more than 450 finalists received awards and prizes for their innovative research, including “First Award” winners, who each received a $5,000 prize.

The following lists the First Award winners for each of the 22 categories, from which the Top Awards were chosen:

Animal Sciences, sponsored by Society for ScienceMaddux Alexander Springer, Honolulu, Hawaii

Behavioral and Social Sciences, sponsored by Society for ScienceAndrew Y. Liang, San Jose, California

Biochemistry, sponsored by RegeneronAmy Hong Xiao, Garden City, New York

Biomedical and Health Sciences, sponsored by RegeneronRia Kamat, Hackensack, New Jersey; Kevin Xuan Lei, Shanghai, China

Biomedical Engineering, sponsored by Alfred E. Mann CharitiesAyush Garg, Dublin, California; Divij Motwani, Palo Alto, California; Akash Ashish Pai, Portland, Oregon

Cellular and Molecular Biology, sponsored by RegeneronLara and Maya Sarah Hammoud, Beverly Hills, Michigan

Chemistry, sponsored by Society for ScienceAkilan Sankaran, Albuquerque, New Mexico; Arjun Suresh Malpani and Siddharth Daniel D’costa, Portland, Oregon

Computational Biology and Bioinformatics, sponsored by RegeneronKun-Hyung Roh, Bronx, New York

Earth and Environmental Sciences, sponsored by Google.orgNikhil Vemuri, Durham, North Carolina; Justin Yizhou Huang and Victoria Ou, The Woodlands, Texas

Embedded Systems, sponsored by HPChloe Rae and Sophie Rose Filion, Welland, Ontario, Canada

Energy: Sustainable Materials and Design, sponsored by Siemens EnergyAlia Wahban, Hamilton, Ontario, Canada

Engineering Technology: Statics and Dynamics, sponsored by Howmet Aerospace FoundationChiyo Nakatsuji, Bunkyoku, Tokyo, Japan; Kevin Shen, Olympia, Washington

Environmental Engineering, sponsored by JacobsKrish Pai, San Diego, California; Jack Shannon, Clane, Kildare, Ireland

Materials Science, sponsored by Howmet Aerospace FoundationGrace Sun, Lexington, Kentucky

Mathematics, sponsored by Akamai FoundationAnna Oliva, Houston, Texas

Microbiology, sponsored by Schattner FoundationMatthew Chang, Irvine, California

Physics and Astronomy, sponsored by Richard F. Caris Charitable Trust IIHarini Thiagarajan and Vishal Ranganath Yalla, Bothell, Washington; Shuhan Luo, Worcester, Massachusetts

Plant Sciences, sponsored by Society for SciencePauline Estrada, Fresno, California; Tanishka Balaji Aglave, Dover, Florida

Robotics and Intelligent Machines, sponsored by RegeneronMichal Lajciak, Dubnica nad Vahom, Trenciansky kraj, Slovakia; Anthony Efthimiadis, Oakville, Ontario, Canada

Systems Software, sponsored by MicrosoftMichelle Wei, San Jose, California

Technology Enhances the Arts, sponsored by Society for ScienceAnant Khandelwal, Sritan Motati and Siddhant Sood, Alexandria, Virginia

Translational Medical Science, sponsored by RegeneronZheng-Chi Lee, West Lafayette, Indiana; Ingrid Wai Hin Chan, Hong Kong, China

The full list of all award-winning ISEF 2024 finalists is available here: https://www.societyforscience.org/press-release/regeneron-isef-2024-full-awards.

View all the finalists’ research here: https://projectboard.world/isef.

About the Regeneron International Science and Engineering FairThe Regeneron International Science and Engineering Fair (Regeneron ISEF), a program of Society for Science for over 70 years, is the world’s largest global science competition for high school students. Through a global network of local, regional and national science fairs, millions of students are encouraged to explore their passion for scientific inquiry. Each spring, a group of these students is selected as finalists and offered the opportunity to compete for approximately U.S. $9 million in awards and scholarships.

In 2019, Regeneron became the title sponsor of ISEF to help reward and celebrate the best and brightest young minds globally and encourage them to pursue careers in STEM to positively impact the world. Regeneron ISEF is supported by a community of additional sponsors, including Akamai Foundation, Alfred E. Mann Charities, Aramco, Caltech, Google.org, Gordon and Betty Moore Foundation, Howmet Aerospace Foundation, HP, , Jacobs, King Abdulaziz & his Companions Foundation for Giftedness and Creativity, Microsoft, National Geographic Society, Richard F. Caris Charitable Trust II, Rise, an initiative of Schmidt Futures and the Rhodes Trust, Schattner Foundation, Siemens Energy, Annenburg Foundation, Ballmer Group, Broadcom Foundation, Cesco Linguistic Services, Conrad N. Hilton Foundation, Edison International, Insaco, Oracle Academy, The Eli and Edythe Broad Foundation, The Ralph M. Parsons Foundation and US Army ROTC. Many are entrepreneurs across a wide range of industries. Learn more at https://www.societyforscience.org/isef/.

About Society for ScienceSociety for Science is a champion for science, dedicated to promoting the understanding and appreciation of science and the vital role it plays in human advancement. Established in 1921, Society for Science is best known for its award-winning journalism through Science News and Science News Explores, its world-class science research competitions for students, including the Regeneron Science Talent Search, the Regeneron International Science and Engineering Fair and the Thermo Fisher Scientific Junior Innovators Challenge, and its outreach and equity programming that seeks to ensure that all students have an opportunity to pursue a career in STEM. A 501(c)(3) membership organization, Society for Science is committed to inform, educate and inspire. Learn more at www.societyforscience.org and follow us on Facebook, Twitter, Instagram and Snapchat (Society4Science).

About RegeneronRegeneron (NASDAQ: REGN) is a leading biotechnology company that invents, develops and commercializes life-transforming medicines for people with serious diseases. Founded and led by physician-scientists, our unique ability to repeatedly and consistently translate science into medicine has led to numerous approved treatments and product candidates in development, most of which were homegrown in our laboratories. Our medicines and pipeline are designed to help patients with eye diseases, allergic and inflammatory diseases, cancer, cardiovascular and metabolic diseases, neurological diseases, hematologic conditions, infectious diseases and rare diseases. 

Regeneron believes that operating as a good corporate citizen is crucial to delivering on our mission. We approach corporate responsibility with three goals in mind: to improve the lives of people with serious diseases, to foster a culture of integrity and excellence and to build sustainable communities. Regeneron is proud to be included on the Dow Jones Sustainability World Index and the Civic 50 list of the most “community-minded” companies in the U.S. Throughout the year, Regeneron empowers and supports employees to give back through our volunteering, pro bono and matching gift programs. Our most significant philanthropic commitments are in the area of early science education, including the Regeneron Science Talent Search and the Regeneron International Science and Engineering Fair (ISEF).

For more information, please visit www.Regeneron.com or follow Regeneron on LinkedIn, Instagram, Facebook or X.

More information about the top winners and access to visual assets visit:  https://www.societyforscience.org/isef-2024-media-kit.

Media ContactsJoseph Brown, [email protected]

Gayle Kansagor, Society for [email protected]

Photo – https://mma.prnewswire.com/media/2416174/Regeneron_ISEF_2024_Winners_Photo.jpg 

Logo – https://mma.prnewswire.com/media/2416197/Society_for_Science_Logo.jpg 


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Artificial Intelligence


J.P. Morgan Life Sciences Private Capital, Blue Horizon Advisors and United Al Saqer Announce Winner of Inaugural 2024 Life Sciences Innovation Summit





 






Published
 1 day ago 
on
 May 17, 2024





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In conjunction with Abu Dhabi Global Healthcare Week 2024

ABU DHABI, UAE, May 17, 2024 /PRNewswire/ — J.P. Morgan Life Sciences Private Capital, Blue Horizon Advisors and United Al Saqer Group announced today Rayees Rahman of Harmonic Discovery as the winner of the inaugural J.P. Morgan Asset Management: Life Sciences Innovation Summit. Harmonic Discovery is a precision pharmacology company applying its generative chemistry platform to advance next-generation kinase inhibitors.


In partnership with the Department of Health – Abu Dhabi (DoH), the Summit took place on May 14-15, 2024 at Cleveland Clinic Abu Dhabi and showcased the 11 innovative finalists, as well as highlighted existing innovators and opportunities in the Emirate of Abu Dhabi. The event also featured keynote speeches from Dr. Laurie Glimcher of Dana-Farber Cancer Institute, Dr. Shahrukh Hashmi of the Department of Health – Abu Dhabi, and Dr. David Ho of Columbia University Medical Center and provided attendees networking opportunities to gain valuable insights into the future of life sciences innovation. 

In addition, the jury designated Chun-Hao Huang of Algen Biotechnologies as honourable mention. Algen Biotechnologies is a platform therapeutics and drug discovery company using world-leading CRISPR and AI to find treatments for cancer, inflammation and metabolic diseases.

The winners were selected by an esteemed, international panel of judges, which included:Laurie Glimcher, MD, President and CEO at Dana-Farber Cancer InstituteJorge Guzman, MD, CEO at Cleveland Clinic Abu DhabiProf. Shahrukh Khurshid Hashmi, MD, Director of Research, Department of Health, Abu DhabiYasmine Hayek Kobeissi, PhD, CQF, BSc., Executive Director at Blue Horizon AdvisorsAnya Schiess, Managing Partner at J.P. Morgan Life Sciences Private CapitalWalid Zaher, PhD, Co-Founder and CEO, Carexso

Dr. Asma Al Mannaei, Executive Director of the Research and Innovation Centre at the Department of Health – Abu Dhabi said: “Under the directives of the UAE’s wise leadership, and renowned for its world-leading medical infrastructure, Abu Dhabi stands at the forefront of healthcare excellence, offering an unparalleled opportunity for advancement in healthcare for global partners. It was our utmost pleasure hosting the J.P. Morgan Asset Management Life Sciences Innovation Summit 2024 on the sidelines of Abu Dhabi Global Healthcare Week and we commend the winners for their pioneering efforts in driving impactful advancements in healthcare; their dedication to innovation not only transforms the landscape of medicine, but also holds the promise of improving lives worldwide.” 

Stephen Squinto, PhD, Chief Investment Officer, J.P. Morgan Life Sciences Private Capital said: “We are thrilled with the level of biotech passion and innovation that we observed at this year’s Summit in Abu Dhabi. The energy was truly palpable we are thrilled to announce Rayees Rahman as the winner of our first Life Sciences Innovation Summit. Harmonic Discovery’s approach embodies the next generation of drug discovery and development. We appreciate the time and effort of all participants and cannot wait for our next event in the region.”

Nabil Kobeissi, Chief Executive Officer of Blue Horizon Advisors, said: “As the main sponsor, we are committed to nurturing and fostering the growth of all 11 finalists in this vibrant biotech ecosystem. This Summit marks the beginning of a transformative journey, and we are confident that it will pave the way for a flourishing hub in the region. We are also pleased to announce that we will commit to invest in and partner with the winner, Harmonic Discovery, to support its future growth in the region.”

Sponsors for the event included J.P. Morgan Life Sciences Private Capital, J.P. Morgan Commercial Bank, Blue Horizon Advisors, United Al Saqer Group, Thermo Fisher Scientific, and Salam Capital. The Summit organisation, logistics and finalist recruitment were facilitated by Lyfebulb.

Of importance, at the Summit, Mr. Mohamed Al Breiki, Executive Director of Sustainable Development at Masdar City, announced that Masdar City Free Zone would award all 11 Finalists complimentary business licenses to further support their establishment in the region. Masdar City is one of the world’s most sustainable urban developments and innovation hubs with a growing focus on life science entrepreneurship in Abu Dhabi.


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Artificial Intelligence


Congregating in the Lion City for a Win-Win Future of Intelligent Computing at the Global Data Center Facility Summit 2024





 






Published
 1 day ago 
on
 May 17, 2024





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congregating-in-the-lion-city-for-a-win-win-future-of-intelligent-computing-at-the-global-data-center-facility-summit-2024 






SINGAPORE, May 17, 2024 /PRNewswire/ — On May 17, 2024, the Global Data Center Facility Summit 2024 was held in Singapore with the theme of “Power the Digital Era Forward.” At the summit, over 600 data center industry leaders, technical experts, and ecosystem partners gathered to discuss new trends and opportunities of the global data center industry in the intelligent computing era. The attendees also got to experience all-scenario, all-ecosystem, and all-service end-to-end (E2E) solutions, share innovative practices of green data centers in the Asia Pacific and Europe, and experience the exhibition vehicle to unveil the mystery of Outdoor PowerPOD that features one power system per container. By fully embracing the intelligent computing era, Huawei strives to power the digital era forward.


Seizing Opportunities Brought by AI and Jointly Building Green & Reliable Computing Infrastructure

At the opening speech, Charles Yang, Senior Vice President of Huawei and President of Marketing, Sales and Services, Huawei Digital Power, noted that since ChatGPT ushered in the AI era, large models keep pushing the limits of computing power and the intelligent computing industry is witnessing an unprecedented construction boom. As predicted, 100 GW will be added to the global data center installed capacity and the market value will exceed US$600 billion in the next five years.

According to Charles, with opportunities come challenges. The primary challenge concerning the data center industry is reliability and electricity. Data centers are scaling up from the MW-level to the GW-level. E2E reliability of data centers is becoming even more important than ever. In response to the opportunities, Huawei will work with customers and partners to expand the industry space.

Steering Data Centers to the AI Era with Product + Service + Ecosystem

During the summit, Sun Xiaofeng, President of Huawei Data Center Facility & Critical Power Business, delivered a speech titled “Power the Digital Era Forward. ” He stated that as AI large models are penetrating, the surging compute demands drive the expansive growth in data center.

To address the challenges, Huawei strives to build product + service + ecosystem E2E data center solutions that feature fast deployment, flexible cooling, green energy, and ultimate reliability.

Fast deployment: Data centers are fully modularized and prefabricated to ensure high quality and efficient construction.Flexible cooling: Air-liquid fusion and integrated cooling source emerges as the optimal cooling architecture for intelligent computing.Green energy: New generation-grid-load-storage integrated solution is built to ensure the sound operations of intelligent computing centers.Ultimate reliability: Data centers are safeguarded through reliable products and preventive protection.Currently, Huawei’s global service network covers more than 170 countries with over 1800 professional engineers, providing 24/7 technical support. With N+ flagship service centers, Huawei has built a one-hour service radius for its customers.

The ecosystem is a key part for a win-win future of intelligent computing. Huawei works with partners to develop comprehensive E2E solutions and provide customers with one-stop data center services.

During the summit, Huawei and the ASEAN Centre for Energy released a white paper on “Building Next Generation Data Center Facility in ASEAN.” The document provides insights into the status quo, challenges, and trends of data centers in the ASEAN region, and emphasizes that efficient and energy-saving products and solutions should be applied. It also proposes future-oriented policy recommendations for data center markets.

In the ecosystem exhibition area, Huawei showcased scenario-based solutions for large-, medium-, and small-sized data centers, and demonstrated data center consulting, design, integrated development, and delivery capabilities with dozens of ecosystem partners including CIMC, Weichai, CSCEC, and Huashi.

On a special note, the Huawei Outdoor PowerPOD exhibition vehicle made its global debut. The Huawei Outdoor PowerPOD features one power system per container, outdoor deployment, plug-and-play, and high protection rating and reliability. It has become the preferred choice for decoupling the power supply architecture.

A single tree cannot make a forest.

AI is presenting great opportunities. By delving into the industry, aggregating partner ecosystems, and making innovations applicable to transformations, Huawei will continue to help customers build reliable computing infrastructure, accelerating the industry to embrace AI and powering the digital era forward.

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