Artificial Intelligence
Unmanned Marine Vehicles Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)
New York, Dec. 15, 2021 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Unmanned Marine Vehicles Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)” – https://www.reportlinker.com/p06190200/?utm_source=GNW
The aim is to reduce the cost and latency of current underwater navigation systems that typically employ high accuracy.
Key Highlights
Oceanic surveillance is driving the market for defense purposes as unmanned marine vehicles offer greater capacity for surveillance, identification, and interception than traditional systems. It can be equipped with stabilized weapons systems, surveillance systems, and electro-optical tracking systems capable of monitoring day and night using infrared vision.
Increased usage of unmanned marine vehicles for underwater mapping, particularly for marine geoscience studies, is expected to drive the market’s growth. More emphasis in the future will be directed toward documenting the various stable states of Earth’s systems, discovering what events trigger evolution from one stable state to another, and identifying the linkages between the states of very different systems like climate and tectonics activity, which will drive the need of unmanned marine vehicles.
The high cost of the equipment is restraining the market. Initial significant capital expenditure in the technology, especially in the early stages of its development, and lack of proper maintenance is challenging the market growth.
The COVID-19 pandemic has negatively impacted the marine industry, and unmanned marine vehicles are no exception. Various preventive measures that various governments took across the globe to contain the spread of the virus severely disrupted the supply chains across industries and hampered the manufacturing operations of several companies globally.
According to the International Chamber of Shipping, maritime transport, being the backbone of the global trading activities and the manufacturing supply chains across the globe, carries approximately 80% of the world merchandise trade by volume. Marine transport, which is considered the cheapest alternative for international trades, is highly opted by the organizations. Moreover, the technological advancements in shipping activities that involve the application of various technologies, including process automation, Artificial Intelligence (AI), Internet of things (IoT), among others, further strengthen the inclination towards seaborne trade.
Key Market Trends
Defense Industry is Expected to Grow Significantly in Market
The primary defense forces across the globe are experiencing maritime security threats such as torpedo threats, underwater mines, diesel-electric submarine attacks, and short-range anti-ship missiles, which is driving the market by gearing more of its investments toward autonomous, robotic platforms that operate at sea and depths well below the surface.
The robotic platforms are designed to accomplish specific tasks, such as identifying and neutralizing potential underwater threats. The successful completion of these missions depends on the peripheral subsystems, which provide location awareness, accurate positional information, and target guidance such as positioning beacons and tracking systems.
In December 2020, Turkey announced the launch of its first armed unmanned maritime vehicle (SIDA), which will be operated remotely using artificial intelligence systems. The vessel is expected to contribute to the country’s defense network, especially in the troubled waters of the eastern Mediterranean, where Turkey’s sovereignty rights have come under threat from countries like Greece and France.
Moreover, in March 2021, the Navy and the Marine Corps published the Unmanned Campaign Framework to guide their investments in and integration of unmanned platforms in the United States.
Europe to Witness a High Growth Rate
Europe is gaining market growth due to the defense and commercial sector demand. ASV marine system is a rapidly growing UK industry. Over the past four years, ASV’s expert team of naval architects, engineers, and robotics specialists have delivered over 60 Unmanned Systems, including mine countermeasure vehicles, marine target drones, and oil field services vehicles, which drive the market in Europe.
Russia will launch its first nuclear-powered submarine capable of carrying the nuclear-capable underwater drone ’Poseidon,’ where each of the submarines will carry a maximum of eight drones and, therefore, the total number of Poseidons on combat duty may reach 32 vehicles for intelligence, surveillance, and reconnaissance (ISR) missions.
The German Navy has been using unmanned underwater vehicles for the last eight years. The service has deployed the UUVs for area searches and debris field and topographic ocean floor mapping.
In December 2020, The German Navy received new REMUS 100 unmanned underwater vehicles (UUVs) from Huntington Ingalls Industries (HII) as a part of the company’s ongoing partnership with the German Navy. With the delivery, the German Navy’s existing fleet of REMUS 100 vehicles will increase and support the service’s mine countermeasure (MCM) operations.
Competitive Landscape
The unmanned marine vehicles market is fragmented due to the presence of several well-established players. These players incorporate strategic initiatives such as acquisition, partnership, expansion, and product/ technology launch to maintain their positions and to gain a competitive advantage in this market. Key players in the market are General Dynamics, Atlas Elektronik, Sea Robotics Inc., etc. Recent developments in the market are –
March 2021 – General Dynamics Mission Systems delivered the Knifefish surface mine countermeasure unmanned underwater vehicle system under a contract awarded by the Navy on August 26, 2019. The contract, which was awarded immediately following a successful Milestone C decision and approval to enter low-rate initial production (LRIP), calls for the purchase of five Knifefish systems (10 total UUVs) and support equipment.
March 2020 – Ocean Aero, Inc. announced an agreement to deliver a wide range of the company’s AUSV models to the Department of Homeland Security Science and Technology Directorate for research, evaluation, and testing program.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
Read the full report: https://www.reportlinker.com/p06190200/?utm_source=GNW
About Reportlinker
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Artificial Intelligence
ZTE highlights building solid foundations with full-stack intelligent computing solution at MWC Shanghai 2024
SHANGHAI, June 26, 2024 /PRNewswire/ — ZTE Corporation (0763.HK / 000063.SZ), a global leading provider of integrated information and communication technology solutions, will present innovative solutions and success cases in connectivity, computing power, industrial digitalization, and terminal devices at MWC Shanghai 2024, committed to building solid foundations with its full-stack and full-scenario intelligent computing solution.
In addition to exhibitions, ZTE will participate in various forums, sharing insights on trending topics, including AI, 5G, digitalization, etc. Meanwhile, the company will be hosting a series of launch events, showcasing its AI-powered eyewear-free 3D products and the Nebula Telecom Large Model.
Adhering to its “connectivity + computing” strategy, ZTE aims to create a dynamic ecosystem with industry partners, emphasizing openness and decoupling. Through continuous innovation, ZTE seeks to unfold an intelligent future.
Computing Power: Full-Stack Intelligent Computing as Efficient Foundation
ZTE provides a full-stack and full-scenario intelligent computing solution involving computing power, networks, capabilities, intelligence, and applications. With a full series of servers, high-performance storage products, lossless networks, and green data centers, ZTE has created a robust engine for diverse intelligent computing centers.
Connectivity: A New Era of 10Gbps Experience
Together with industry partners, ZTE continues to explore innovations in 5G-A technologies across different scenarios and industries, and empowers diversified new B2B and B2C services based on 10Gbps+ experience. Meanwhile, ZTE is also leading in global OTN technologies, and actively driving the evolution of all-optical connectivity, building 10Gbps networks for cities, and empowering smart life based on intelligent computing.
Industry: Phygital Convergence for Innovative Development
ZTE proposes the solution of “intelligent computing infrastructure + Digital Nebula,” facilitating phygital innovation and boost productivity in the intelligent era. ZTE has developed hundreds of exemplary projects in key sectors and ZTE Digital Nebula 3.0 has become the “super brain” of industrial digitalization, enabling customers and industry partners to foster a sustainable and intelligent ecosystem.
ZTE Mobile Devices: AI Full-Scenario Intelligent Ecosystem 3.0
With “AI for All” product strategy, ZTE has launched a full range of AI devices, including smartphones, tablets, laptops, PCs, and mobile internet products, dedicated to building AI Full-Scenario Intelligent Ecosystem 3.0. Emerging as a pioneer in cloud PCs, ZTE possesses a global user base of over 3 million.
For more information about ZTE’s highlights at MWC Shanghai 2024, please visit: https://www.zte.com.cn/global/about/news/zte-highlights-building-solid-foundations-with-full-stack-intelligent-computing-solution-at-mwc-shanghai-2024.html
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Artificial Intelligence
Comviva named a Visionary in the 2024 Gartner® Magic Quadrant™ for AI in CSP Customer and Business Operations Report
NEW DELHI, June 26, 2024 /PRNewswire/ — Comviva, the global leader in customer experience and data monetization solutions, today announced that it has been named a Visionary in the 2024 Gartner Magic Quadrant for AI in CSPs Customer and Business Operations report.
Gartner defines the market of AI in communications service provider (CSP) customer and business operations as commercial off-the-shelf (COTS) products. They are either capabilities embedded in CSP-specific operational technology (OT) applications (such as channels, CRM and other business support system [BSS] applications) or industry-agnostic horizontal applications delivering AI/machine learning (ML)-based customer and business operations to CSPs. CSP customer and business operations refer to marketing, sales, customer acquisition, customer journey, billing and revenue management, revenue assurance, and related risk management. The scope of AI products covers data readiness, life cycle management of algorithms and their application to CSP customer and business operations.
Comviva’s vision is to revolutionize the telecommunications industry by harnessing the transformative power of AI and Generative AI. With AI use cases across its MobiLytix™ and BlueMarble solutions, Comviva is enabling businesses to create, manage, and deliver real-time personalization, contextualized customer experiences, and intelligence-driven commerce at scale. Comviva has been noted for its strength in content creation, natural language generation, decision intelligence and machine learning.
“To thrive in today’s digital economy, businesses must accelerate the adoption of AI and related digital technologies. Comviva’s greatest strength has been our intelligent platforms that deliver personalized experiences and engagement across the customer journey,” said Rajesh Chandiramani, CEO at Comviva. “We are excited by this recognition as we believe that this affirms our strategic direction and leadership in revolutionizing telecommunications with AI. Comviva’s strong position in the quadrant validates our commitment and progress toward leveraging next-gen technologies in our solutions to deliver exceptional customer experiences.”
Comviva integrates state-of-the-art AI technologies across its comprehensive product portfolio, driving innovation, enhancing customer experiences, and optimizing business operations for Communications Service Providers (CSPs) around the world.
Source: Gartner Magic Quadrant for AI in CSP Customer and Business Operations, by Pulkit Pandey, Amresh Nandan, Peter Liu, 4 June 2024.
GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally, MAGIC QUADRANT is a registered trademark of Gartner, Inc. and/or its affiliates and are used herein with permission. All rights reserved.
Contact
Sundeep Mehta, +91()9910030732, [email protected]
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Artificial Intelligence
Jacobi releases Model Portfolio Tech to help investment firms capitalise on booming opportunity
The search for technology to support model portfolio management and portfolio construction services is increasing as companies look to centralise and scale their model portfolio management and compete in a rapidly growing market.
LONDON, June 26, 2024 /PRNewswire/ — The utilisation of model portfolios among financial advisers has emerged as a transformative force, with staggering growth in model portfolios projected to continue over the next decade. And with good reason, they offer an efficient method for diversification, risk management, and portfolio construction, with personalisation features to match the unique financial goals and risk tolerances of clients.
Financial advisers are also increasingly turning to asset managers for assistance in managing the model portfolios they build and maintain for clients. Jacobi’s model management technology enables asset managers to scale the portfolio construction services they offer financial professionals. The technology enables a platform that can centralise performance and risk analytics, integrate investment workflows, and produce professional reports to share with clients.
An early adopter of Jacobi’s model technology, leading asset manager T. Rowe Price has seen improved process efficiencies and enhanced engagement with clients.
Chris Augelli, Head of Advisor Engagement & Portfolio Construction Solutions at T. Rowe Price, says:
“Jacobi’s technology has enabled us to work faster and handle the increasing demand for our portfolio construction services. Having the team on one common platform through Jacobi has facilitated collaboration in real-time, which has supported our effectiveness in meeting clients’ needs.”
Tanya Bartolini, Chief Revenue Officer at Jacobi, says:
“Our technology helps us partner with asset managers such as T.Rowe Price to scale and connect workflows, driving enormous efficiencies – and ultimately increasing their market distribution.”
About Jacobi
Jacobi Inc. is a global investment technology provider that streamlines multi-asset investment processes and enables portfolio design, analysis, and client engagement. Its unique “open architecture” platform allows users to tailor the platform by integrating their own code, models, data, analytics, and applications.
Founded in 2014, Jacobi provides its technology to top-tier investors across the globe, including some of the world’s leading asset and wealth managers, pension funds, asset owners, and investment consultants.
About T.Rowe Price
Founded in 1937, T. Rowe Price helps people around the world achieve their long-term investment goals. As a large global asset management company known for investment excellence, retirement leadership, and independent proprietary research, the firm is built on a culture of integrity that puts client interests first. Investors rely on the award-winning firm for its retirement expertise and active management of equity, fixed income, alternatives, and multi-asset investments. T. Rowe Price manages $1.54 trillion in client assets as of May 31, 2024, and it serves millions of clients globally.
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