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CNOVA N.V. First Quarter 2022 Activity

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                                                         CNOVA N.V.
                                             First quarter 2022 activity

In a market impacted by a high comparison basis related to curfew, Cnova GMV is -9% vs 1Q21 and +1% compared to pre-pandemic period (i.e. 1Q19), with well oriented KPIs for its 3 strategic pillars:

  • Growing marketplace benefiting from a record-high customer satisfaction
    • GMV grew by +22% vs. 2019 (-10% vs. 2021), reaching €342m
    • Marketplace share reached 47.8%, +11.5 pts growth vs. 2019 (+2.3 pts vs. 2021)
  • Continued expansion of Digital Marketing revenues €16m in Q1, x2 vs. 2019 (+15% vs. 2021)
  • Acceleration of B2B activities
    • Octopia strong commercial dynamic:
      • 17 contracts signed (+5 vs. Dec. 2021)
      • Clients’ GMV backlog now exceeding €1bn on contracts duration
    • C-Logistics is booming with now 37 clients (+15 contracts launched or signed vs. Dec. 2021)

Customer satisfaction is still growing with NPS reaching 55.5, +11.4 pts vs. 2019 (+4.4 pts vs. 2021)

AMSTERDAM – April 19, 2022, 07:45 CET Cnova N.V. (Euronext Paris: CNV; ISIN: NL0010949392) (“Cnova”) today announced its first quarter 2022 activity.

1st quarter 2022 Highlights

During the 1st quarter 2022, the group continued to accelerate on its 3 strategic pillars, with increasing marketplace GMV (+22% vs. 2019, -10% vs. 2021) and digital marketing (x2 vs. 2019, +15% vs. 2021) as well as growing B2B initiatives with Octopia (17 contracts signed) and C-Logistics counting 37 clients.
Marketplace GMV increased by +22% vs. 2019 (-10% vs. 2021). The number of sellers reached more than 13,200 with a record-high quality level narrowing the gap with the overall NPS supported by the development of Fulfilment by Cdiscount and Cdiscount Express seller. Marketplace revenues reached €45m, growing +28% vs. 2019 (-7% vs. 2021). On a LTM basis, marketplace revenues reached 192m.
Digital marketing revenues reached 16m in the 1st quarter, growing x2 vs. 2019 (+15% vs. 2021), mainly driven by the development of sponsored products thanks to enhanced bidding algorithms powered by artificial intelligence. On a LTM basis, digital marketing revenues reached €71m.
Customer loyalty has increased thanks to a record high customer satisfaction measured by the NPS (55.5, +11.4pts vs. 2019 and +4.4pts vs. 2021), with a focus on express delivery and enhanced customer experience on Cdiscount.com. Our loyal customer base increased, with Cdiscount à Volonté (CDAV) reaching 2.5 million members, growing +34% vs. 2019 (+8% vs. 2021).
B2B activities are still accelerating. Octopia GMV reached €28m in the 1st quarter of 2022, (+5% vs. 2021) mainly thanks to the development of Fulfilment-as-a-Service, x6 parcels shipped in Q1 vs. 2019 and +9% vs. 2021, and Products-as-a-Service. Merchants- and Marketplace-as-a-Service offers are accelerating with 5 major contracts signed during the 1st quarter of 2022 and clients’ GMV backlog now exceeding €1bn on contracts duration. C-Logistics third party offers benefited from a strong commercial ramp-up with now 37 clients launched or signed, 15 additional customers vs. end 2021.

Total GMV increased by +1% vs. 2019 (-9% vs. 2021) with a strong growth in marketplace (+22% vs. 2019) and reduction in direct sales (-24% vs. 2019) in line with the mix improvement strategy.

Emmanuel Grenier, Cnova CEO, commented:

“In a sensitive and uncertain market, this 1st quarter confirmed our relevant positioning with the strong growth of our 3 strategic pillars compared to the pre-pandemic period while external factors influenced and continue to significantly impact all economic activities.
In this challenging context, our ecommerce platform benefited from a continuously growing Cdiscount à Volonté customer base, giving advantage to the strong acceleration of our digital marketing solutions.
On the B2B side, C-Logistics and Octopia continued their commercial dynamics, notably with contracts signed with major e-commerce players and retailers confirming our strategic route on this segment.”

First quarter 2022 Key figures
nova N.V.

  First quarter (1) vs. 2021

 

vs. 2019

 

2022 2021
Key operational metrics        
Traffic (million visits) 261.2 296.3 -11.9% +2.3%
Orders (2) (million) 6.0 7.4 18.2% 8.1%
o/w Marketplace 4.2 5.0 -16.3% +7.1%
Items sold (million) 10.1 12.6 19.3% 16.9%
     o/w Marketplace 6.2 7.4 -15.8% +1.5%
Key financial figures (€m)        
Total GMV 915.7 1,006.3 9.0% +1.1%
   Ecommerce platform
o/w Direct sales

 

887.4 979.3 9.4% 1.8%
372.8 454.8 -18.0% -24.4%
    o/w Marketplace (3) 341.5 380.5 -10.2% +21.8%
    o/w Services 73.2 52.3 +40.0% x2.5
    o/w Other revenues
   Octopia

 

99.8 91.7 +8.8% -0.3%
28.3 27.0 +5.0% n/m
Total Net Sales 448.9 517.9 -13.3% -14.8%

First quarter 2022 Highlights

GMV

 

First quarter (1)
vs. 2021 vs. 2019
Total growth -9.0% +1.1%
Marketplace growth -10.2% +21.8%
Octopia growth +5.0% n/m

Total GMV posted a +1.1% increase vs. 2019 (-9.0% vs. 2O21). Compared to pre-pandemic period (1st quarter 2019), GMV was stable despite decreasing trend on direct sales due to a voluntary shift to the marketplace. GMV benefited from the high growth of Marketplace, B2C services and the launch of Octopia offers over this 3-year period.

Marketplace

 

1Q22

 

Change
vs. 2021 vs. 2019
Marketplace product GMV share 47.8% +2.3 pts +11.5 pts
Marketplace Fulfilment GMV share 38.8% +4.4 pts +14.2 pts
Marketplace revenues €45.2m -7.1% +28.4%

Marketplace continued to be a driving force for Cnova, with GMV increasing by +21.8% vs. 2019 (-10.2% vs. 2021). GMV share increased by +11.5pts vs. 2019 (+2.3pts vs. 2021), benefiting from a growing share of GMV fulfilled by Cdiscount which increased by +14.2pts vs. 2019 (+4.4pts vs. 2021).

Net Sales

 

First quarter (1)
vs. 2021 vs. 2019
Total growth -14.5% -16.0%

Net Sales amounted to 442.6m, a -16.0% decrease vs. 2019 (-14.5% vs. 2021). This decrease is explained by the decrease of direct sales by -24.4% vs. 2019 (-18.0% vs. 2021) mainly resulting from the acceleration of the profitable shift towards marketplace sales, which are only recognized for the associated commissions.

Business Highlights

Increasing Marketplace revenues and Marketplace GMV share

  • The Marketplace grew by +21.8% in the 1st quarter vs. 2019 (-10.2% vs. 2021), with a record high NPS of 55.5 (+11.4pts vs. 2019 and +4.4pts vs. 2021);
  • This led to a 47.8% Marketplace GMV share in the 1st quarter 2022, growing +11.5pts vs. 2019 (+2.3pts vs. 2021);
  • Marketplace revenue generation, supported by CARS digital marketing bidding platform, grew by +28.4% in the 1st quarter vs. 2019 (-7.1% vs. 2021), reaching €45.2m and 192.3m over the last twelve months, decreasing 2.9% vs. the previous last twelve months period.

Expansion of marketplace SKUs eligible to express delivery is a key driver of growth, customer satisfaction and contributes to the development of our loyalty program, Cdiscount à Volonté (CDAV). It is also supporting the product mix improvement strategy towards more recurring and profitable categories. Fulfilment by Cdiscount and Cdiscount Express Seller kept on extending their offering to reach 2.9 million eligible SKUs (+94% vs. 2021).

Our loyalty program Cdiscount à Volonté (CDAV) customer base grew by +33.5% vs. 2019 (+7.6% vs 2021), reaching 2.5 million members. CDAV represented 44.0% of total GMV in the 1st quarter 2022. CDAV members show more purchase recurrence and loyalty than non-CDAV clients.

B2C Services showed solid performance

  • B2C Services GMV amounted to €73.2m in the 1st quarter 2022, a x2.5 growth vs. 2019 (+40% vs. 2021);
  • Cdiscount Voyages & Billetterie (travel & ticketing) experienced a significant acceleration, posting a strong +62% GMV growth vs. 2019 (x2.3 vs. 2021);
  • Cdiscount Mobile (cell phone plans) activity performed very well during the 1st quarter 2022 with a x5.3 GMV growth vs. 2019 (+65% vs. 2021) and a strong subscriber growth.

Enhanced customer experience and record high NPS

  • Cnova achieved a strong +11.4 points NPS improvement this quarter vs. 2019 (+4.4 points vs. 2021), thanks to intensified efforts to improve customer experience before, during and after the sale.
  • Cnova reduced delivery time thanks to the increase of the express delivery share (47.7%, +6.8 points vs. 2021). This was supported by the development of Marketplace express delivery options through Fulfilment by Cdiscount and Cdiscount Express Seller.
  • Cnova also carried on its “say yes to the customer” policy, with now 100% positive and immediate answers to Cdiscount à Volonté customers claims (+20pts vs. 2021) and proactive preventive actions for every abnormal event happening during the customer journey.

Dynamic digital marketing powered by Cdiscount Ads Retail Solution

  • Digital marketing revenues doubled in the 1st quarter compared to 2019 (+14.7% vs. 2021), reinforcing Cnova’s most profitable activity.
  • It was supported by CARS bidding platform, where the number of users grew quickly to reach 5,915 (+34.4% vs. 2021). CARS turnkey white label offer’s commercial start is promising with a first major client launched, another one signed and several prospects expected to convert in the short term.
  • Cnova also continues to develop new features and accelerates on successful initiatives to reinforce its offer:
    • Display more videos on product sheets, with a priority given to Top searches;
    • Boost Cdiscount.com animation through lives to promoted products and key commercial periods;
    • Accelerate the development of Sponsored Products and Google Shopping.

Acceleration of Octopia, the turnkey tech-enabled marketplace solution

  • Octopia GMV experienced a +5.0% vs. 2021
  • The commercial ramp-up is very promising and still accelerating:
    • Merchants-asaService and MarketplaceasaService solutions already convinced several international players and have consequent order backlogs;
    • Fulfilment-as-a-Service activity grew at a very pace with parcels delivery outside of Cdiscount.com multiplied by 6 vs. 2019 (+8.5% vs. 2021).

With already 37 clients signed or launched, C Chez Vous and C-Logistics are accelerating in the 1st quarter of 2022

  • 15 new clients signed or launched in the 1st quarter of 2022 alone
  • C Chez Vous aims at becoming the French leader in delivery of heavy and bulky products, reaching record high NPS of 87 (+7 points vs. 2021) with already 33 clients launched or signed.
  • C-Logistics aims at being a leading e-commerce third-party logistics player with now 4 players launched or signed for a full end-to-end logistics solution.

Cnova pursues its CSR strategy to build a sustainable and inclusive European digital leader

Cnova is committed promoting a more sustainable way to consume.

  • Already a leading actor on 2nd-hand and refurbishment, Cnova develops its offer on all its product categories: more than 1 out of 10 laptops sold on Cdiscount.com are refurbished; a new partnership was signed with Biicou to offer refurbished strollers in France.
  • In 2022, Cnova will accelerate the promotion of more sustainable products within its offer, by defining extended sustainability criteria and reinforcing their visibility on Cdiscount.com.
  • An initiative was also launched to assess the ESG performance of Cnova’s suppliers and sellers, with a target of hundreds of partners audited by the end of 2022.

Cnova supports local economies as well

  • Cdiscount develops its “Made In France” offer, with 17k products available on the website at the end of the 1st quarter 2022

Cnova brings its support to the community to answer societal issues:

  • A 3-year partnership was signed with Make.org, an independent platform promoting the engagement of the civil society to address social matters, to work especially on the topic of inequalities suffered by women

Cnova’s HR policy is recognized

  • Cdiscount reached 92/100 in 2021 in the consolidated gender index (+1 vs. 2020), demonstrating the commitment of Cdiscount to promote equal opportunities for women and men
  • Finally, Cnova came up in the Top10 of the Great Place to Work 2022 ranking4

***

About Cnova N.V.

Cnova N.V., the French ecommerce leader, serves 9.6 million active customers via its state-of-the-art website, Cdiscount. Cnova N.V.’s product offering provides its clients with a wide variety of very competitively priced goods, fast and customer-convenient delivery options, practical and innovative payment solutions as well as travel, entertainment and domestic energy services. Cnova N.V. is part of Groupe Casino, a global diversified retailer. Cnova N.V.’s news releases are available at www.cnova.com. Information available on, or accessible through, the sites referenced above is not part of this press release.

This press release contains regulated information (gereglementeerde informatie) within the meaning of the Dutch Financial Supervision Act (Wet op het financieel toezicht) which must be made publicly available pursuant to Dutch and French law. This press release is intended for information purposes only.

***


1 All figures are unaudited
2 Total placed orders before cancellation due to fraud detection and/or customer non-payment
3 Including CARS digital marketing
4 https://www.greatplacetowork.fr/palmares/best-workplaces-france-2022/

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Elevate Your Virtual Reality Experience with KIWI design RGB Vertical Stand, Now Available on Meta’s Website

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LOS ANGELES, May 11, 2024 /PRNewswire/ — Top-tier VR accessories provider KIWI design has launched its latest product, the RGB Vertical Stand. This Meta-authorized accessory, designed to deepen users’ immersion in the metaverse, is now available on the official Meta website.

“KIWI design’s commitment to pushing the boundaries of virtual reality accessories takes another leap forward with the introduction of our new products,” said Ray,the CEO of KIWI design. “We are always dedicated to bringing innovative upgrades to VR device accessories, with the goal of enriching users’ virtual reality experiences.”
The newly launched RGB Vertical Stand features a user-friendly modular design with push-in assembly, making it easy to set up and use. It is compatible with Meta Quest 3, Quest 2, and Quest Pro, ensuring widespread usability. With a magnetic USB Type-C connector, it provides an effortless way to charge and display your headset. Users can also customize their display with 16 pre-set ambient multicolor RGB light options.
With VR technology constantly evolving, users are seeking more immersive experiences. As a leading manufacturer of VR accessories, KIWI design is committed to enhancing the user experience, through unique product designs. Since its establishment in 2015, KIWI design has acquired over 100 patents and has a diverse product lineup, including head straps, facial interfaces, VR stands, charging accessories, and controller grip covers.
KIWI design has also actively participated in the Made for Meta program, which is provided by Meta to strengthen its partnerships with leading brands to deliver accessories that enhance Meta products with more choice and a richer experience for everyone. KIWI design’s participation in this program validates its high-quality design standards.
The RGB Vertical Stand for Meta Quest 3, Quest 2, and Quest Pro and another specially designed authorized charging dock for the Meta  Oculus Quest 2 are now available for purchase on both KIWI design’s website and Amazon. For more information about our brand and products, please visit our website and follow KIWI design on Facebook, Instagram, X, YouTube and TikTok.
https://www.kiwidesign.com/
https://www.facebook.com/KIWIdesignOfficial
https://www.instagram.com/kiwidesignins/

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WIO Taps Gracenote to Revolutionize Television Broadcast Reporting

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LOS ANGELES, May 11, 2024 /PRNewswire/ — WIO LLC, parent company of the global TV broadcast airings platform, WIOpro™, has announced a new strategic agreement with Gracenote, the global content data business unit of Nielsen, to address the longstanding challenge of accurately tracking and collecting music royalties generated by broadcast television and digital programming, With this agreement, WIO will integrate Gracenote TV program metadata and show airings into its WIOpro™ (“When’s It On – Professional”) platform enabling performance rights organizations, copyright management organizations and other entities to better monitor broadcast schedules and identify when royalties have been earned.

By integrating Gracenote historical program data into WIOpro’s new LookBack™ feature, WIO is enhancing its reporting capabilities and empowering Collection Societies, Rights Management Companies and the royalty-earning community to more easily monitor and export broadcast airings and better understand collections opportunities.
“At WIO, we are committed to empowering collection societies and copyright holders around the world with our platform tools and unprecedented access to the best and most accurate television broadcast and streaming data available,” said Shawn Pierce, Co-Founder and CEO of WIO LLC. “We have enjoyed an incredible relationship with Gracenote for 10 years. With the solidification of this agreement, we are able to deliver an unrivaled dataset to the royalty and residual community in a way that has not been offered before.” said Adam Shafron, Co-Founder and CTO of WIO LLC.
“WIO’s platform developed to solve the difficult matter of royalty tracking only becomes more powerful based on the integration of accurate, timely and comprehensive Gracenote metadata,” said Scott Monahan, Director, Strategic Partnerships, Gracenote. “We look forward to the combination of WIOpro’s technology and Gracenote’s program metadata delivering on the promise of transforming music royalty collection so that rights holders can be fairly compensated for use of their work.”
WIO and Gracenote will be at the MusicBiz 2024 conference in Nashville, TN May 13 – 16. Contact Dave Pelman, COO of WIO LLC at [email protected] for media queries or to book an appointment for a product demonstration.
About WIO:WIO is a technology company dedicated to providing broadcast television and digital programming data tailored specifically for the royalty and residual collection industry. Through its platform WIOpro (wiopro.com), users obtain access to real-time broadcast insights, reporting and curated data delivery.
About Gracenote:Gracenote is the content data business unit of Nielsen providing entertainment metadata, connected IDs and related offerings to the world’s leading creators, distributors and platforms. Gracenote enables advanced content navigation and discovery capabilities helping individuals easily connect to the TV shows, movies, music, podcasts and sports they love while delivering powerful content analytics making complex business decisions simpler.
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IDTechEx Explores Printed Electronics in Electrified and Autonomous Mobility

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BOSTON, May 10, 2024 /PRNewswire/ — Electrification, autonomy, and vehicle ownership saturation are causing a technological revolution in the automotive sector. These automotive meta-trends are driving drastic changes in electronic component requirements and present a high-volume opportunity for printed electronics to capitalize on.

Historically, printed electronics technologies have nurtured a close relationship with the automotive sector, with printed force sensors pioneering passenger safety through seat occupancy and seatbelt detection. As such, the automotive sector continues to represent the lion’s share of the global printed and flexible sensor market, which IDTechEx’s report on the topic evaluates as worth US$421M in 2024. However, if the automotive sector is to continue to be a reliable revenue stream, printed electronics technology providers must adapt to address the emerging technical challenges facing future mobility.
Augmenting autonomous vehicles with printed electronics
As vehicle autonomy levels advance, the increasing number and distribution of spatial mapping sensors required will need continuous performance improvements to ensure passenger safety. Emerging printed electronics technologies can augment these sensors, extending detection bandwidth and maximizing reliability during operation.
Transparent conductive films (TCFs) are being developed to heat and defog LiDAR sensor panels, ensuring the function is unperturbed by external environmental conditions. Properties such as high transparency and low haze are important for defogging. These properties can be easily tuned using the wide variety of material options available for TCFs, including carbon nanotubes and silver nanowires.
IDTechEx identifies printed heating as a leading application of transparent conductive films. This is attributed to diminishing growth prospects in capacitive touch sensing applications. Innovations in thin film coating techniques have enabled indium tin oxide (ITO) to dominate touch sensing applications, all but displacing TCFs completely.
Looking towards the future, printed electronics technologies could play a more active role in advanced autonomous driving. Emerging semiconductive materials, such as quantum dots, printed directly onto conventional silicon image sensor arrays can extend detection range and sensitivity deeper into the infrared region. Augmenting existing image sensor technology with enhanced spectral range could facilitate the competition of hybrid silicon sensors with established InGaAs detectors.
Printed sensors promise granularized battery health monitoring
Vehicle electrification is driving the sustained development and evolution of electronic management systems, particularly in the battery and electric drivetrain. A strong market pull exists for technologies that increase vehicle efficiency, range, and lifetime while reducing recharge times.
Printed pressure and temperature sensors measure battery cell swelling and thermal profiles, providing granularized physical data that can be used to optimize battery deployment and recharging. Moreover, hybrid printed sensors that combine integrated printed heating elements promise a solution to actively address battery temperature. IDTechEx estimates that printed sensor-enabled battery deployment and charging optimizations could be worth up to US$3000 in savings per vehicle.
There remains uncertainty about whether electrification trends will correspond to increased demand for physical sensors in electric vehicle batteries, owing to the utility of existing electronic readouts for managing deployment. Virtual sensors also pose a threat, where AI-enabled software models interpret data to predict and emulate physical sensor functions without the need for discreet components. However, emerging regulations regarding safety and sensor redundancy will likely favor measurable metrics and see automotive makers continue to adopt physical sensors. IDTechEx predicts that virtual sensors are unlikely to displace their physical counterparts – so long as low-cost sensors remain widely available.
Embedding printed electronics in the car of the future
IDTechEx predicts that global car sales will saturate over the next decade, with automakers increasingly looking for premium features and technical innovations to differentiate themselves from the competition. In-cabin technologies will be highly desirable – as the location where passengers reside and interact with the vehicle the most.
Lighting elements are emerging as a prominent differentiator, described as “the new chrome” by Volkswagen’s chief designer. The use of in-mold structural electronics (IMSE) enables the integration of embedded lighting elements using existing manufacturing processes. 3D electronics technologies are intrinsically attractive for automotive integration, as functional layers are conformable and lightweight while easily embedded within existing aesthetic elements.
Despite strong tailwinds, the adoption of in-mold electronics within automotive interiors has been sluggish. This is attributed to the challenges of meeting automotive qualification requirements, as well as stiff competition with less sophisticated alternatives such as applying functional films to thermoformed parts. Nevertheless, momentum is building, with technology providers like Tactotek partnering with Mercedes-Benz and Stallantis to progress the automotive validation of IMSE to TRL5.
Outlook for printed electronics in automotive applications
Just as printed force sensors heralded early passenger safety systems, printed electronics technology is poised to underpin next-generation innovations for the car of the future. But this time, the competition will be stiff. Critical cost requirements must be met, while desirable new functionality must address existing challenges faced by manufacturers. Printed electronics can play a role in supporting emerging electrified and autonomous mobility, such as augmenting LiDAR sensors or optimizing electric battery deployment. Demand for technologies that enhance passenger experience and vehicle aesthetics will continue to grow, and printed electronics can supply low-power, lightweight lighting solutions for these.
Sustained engagement from tier suppliers and manufacturers continues to make the automotive sector key to printed sensor market growth opportunities – a total market IDTechEx predicts will reach US$960M by 2034. Strong partnerships between material providers and printed electronics technology providers are complementary to those of the highly vertically integrated automotive value chains between tier suppliers and OEMs. Leveraging printing techniques to provide solutions that slot into existing manufacturing processes and designs will be crucial. In the medium term, the printed electronics technologies most likely to realize revenue potential are those that can adapt to service emerging challenges already known to the automotive industry.
For more information on IDTechEx’s research on this topic, please see their report, “Printed and Flexible Sensors 2024-2034: Technologies, Players, Markets”. Downloadable sample pages are available for this report.
For the full portfolio of printed and flexible electronics market research from IDTechEx, please visit www.IDTechEx.com/Research/PE.
About IDTechEx:
IDTechEx provides trusted independent research on emerging technologies and their markets. Since 1999, we have been helping our clients to understand new technologies, their supply chains, market requirements, opportunities and forecasts. For more information, contact [email protected] or visit www.IDTechEx.com. 
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