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Smart Farming Market Poised for Substantial Growth, Forecasted to Surpass USD 53 Billion by 2032 | Market.us Report

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New York, April 18, 2023 (GLOBE NEWSWIRE) — The global smart farming market is estimated to be valued at USD 53 billion by 2032 from USD 19.5 billion in 2022 and is expected to exhibit a CAGR of 10.5% during the forecast period 2023 to 2032. Smart Farming refers to the use of advanced technology for improving efficiency, productivity, and sustainability in agriculture or farming.

The market is relatively growing due to the rising demand for food because of the rising population, availability of advanced technologies, and the need for optimizing resource utilization technologies that make it possible for gathering and scrutinize a huge amount of data. The adoption of smart farming benefits farmers in the form of higher yields, cost-cutting, and increased efficiency. These technologies also help farmers in optimizing their use of resources like pesticides, water, and fertilizers.

Smart Farming Market

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Key Takeaway:

  • Based on the offering, in 2022, the smart farming market was dominated by the software segment owing to its growing automation of raw material technologies.
  • Based on agriculture type, in 2022, the livestock monitoring segment accounted for the largest market share in agriculture type analysis.
  • By end-user, in 2022, the large farm segment dominated the largest market share in the end-user segment.
  • In 2022, North America dominated the market with the highest revenue share of 42.8%.
  • APAC is expected to have the highest CAGR among all regions, owing to rising awareness among farmers and increased government support.

Factors affecting the growth of the Smart Farming industry

There are several factors that can have an impact on the growth of the smart farming industry including:

  • Internet of Things (IoT): The use of IoT devices in agriculture has changed the way farmers collect and analyze data. IoT devices like drones, satellite imagery, and sensors collect real-time data on soil moisture, crop growth, and temperature which will help farmers to make more solution-oriented decisions.
  • Big data analytics: Big data analytics is helping farmers for analyzing a huge amount of data very quickly and efficiently. By analyzing data, farmers can get insights into weather patterns, soil conditions, and crop yields which will help them to optimize crop production and minimize waste.
  • Artificial intelligence (AI): AI helps farmers to make smart decisions by analyzing data and providing information. AI can analyze data from sensors to predict crop yields, and fertilizer use & optimize irrigation.
  • Robotics: Robots and autonomous vehicles helps in reducing labor cost & increase efficiency in agriculture. Robotics can be used to plant and harvest crops and monitor soil conditions.
  • Climate change: Climate change is driving the need for sustainable agriculture. Smart farming technologies can help farmers in optimizing crop production as well as for minimizing environmental impact.

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Market Growth

Many factors drive the growth of the smart farming market, as the demand for food is increasing day by day because of the increased population. Additionally, the adoption of the latest technologies like the Internet of Things (IoT), and artificial intelligence (AI) is driving the growth of the market. The increased demand for vertical farming can be a key growth factor for the smart farming market. It involves growing crops in vertically stacked layers using artificial lighting and controlled environments which offers several benefits like reduced water consumption, high crop yields, and minimal use of pesticides and herbicides. The overall smart farming market is expected to continue its growth in upcoming years.

Regional Analysis

North America is accounted as the most dominant market in the global smart farming market with a market share of 42.8%, during the forecasted period. Due to the growing government initiatives and the growing number of technological advancements in the agriculture sector. Also, many agriculture organizations have come together for creating the North America Climate Smart Agriculture (NACSA), which is a platform for equipping and educating cultivators for sustainable agriculture.

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Scope of Report

Report Attribute Details
Market Value (2022) USD 19.5 billion
Market Size (2032) USD 53 Billion
CAGR (from 2023 to 2032) 10.5%
North America Revenue Share 42.8%
Historic Period 2016 to 2022
Base Year 2022
Forecast Year 2023 to 2032

Market Drivers

The increasing inclination of the worldwide population towards consuming a protein-rich diet is consistently increasing the adoption of cutting-edge technologies like AI, IoT, machine learning, remotely operated vehicles (ROEs), acoustic telemetry tracking systems, and automatic feeders by aquaculture farm owners. Aquaculture farming can benefit from technological advances which improve production, reduce resource waste, improve accuracy & repeatability, and production efficiency & precision – ultimately increasing profitability for farm owners. Drones, sensors, and AI have made data collection about crop growth patterns, weather patterns, soil health & other aspects of agriculture much simpler & cost-effective to collect and analyze. At the same time, consumers are becoming increasingly concerned with the environment & want to know where their food comes from; these innovations offer farmers a chance to display their impact on the world around them.

Market Restraints

Agriculture is a decentralized industry comprised of numerous small, medium, and large farms operating independently. Due to the unique needs and requirements of each farm, it can be challenging to implement an industry-standard machine-to-machine (M2M) solution. Incorrect allocations of resources or incorrect implementation of smart agriculture technology in divided lands can result in high costs, wasted time, and money; managing supervision and data collection from scattered lands also prove difficult. Farmers also find it challenging when using M2M solutions to achieve economies of scale.

Market Opportunities

Due to high installation costs and a lack of awareness among farmers, the adoption of livestock monitoring technology is slow in emerging countries like Brazil and Mexico. However, due to rising dairy product demand and per capita income levels in these nations, demand will increase for such devices as milking robots and feeding robots in the coming years. IoT technology can be utilized for collecting data from agricultural devices and sensors which will enable farmers to make better decisions regarding fertilization, planting, and irrigation. Vertical farming is a method of growing crops vertically stacked layers; there are numerous opportunities for developing and selling vertical farming technologies.

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Report Segmentation of the Smart Farming Market

Offering Insight

Based on offering, the smart farming market is dominated by the software segment with a market share of 42.7% in 2022, Due to the future of milking robots will be driven by an increase in automation within raw material production. Drone usage is projected to experience the highest growth rate over this forecast period, as labor costs decrease and productivity improves profitability within dairy & food processing operations.

Agriculture Type Insight

Based on the agriculture type, the smart farming market is dominated by the livestock monitoring segment with a market share of 34.8%, due to real-time monitoring & control of livestock health, welfare, production, and performance, allowing market players to maximize yields. Due to technological advances like livestock monitoring and the growing size of dairy farms, market players are being encouraged to focus on product launches.

Farm Size Insight

Based on farm size, the smart farming market is dominated by the large farms segment with a revenue share of 47.3% in 2022. This is due to large farms being the early adopters of smart farming technology because they have the financial means to invest in superior equipment and systems. Furthermore, larger firms boast greater scalability – this allows them to spread costs across a wider area for these innovations.

Recent Developments of the Smart Farming Market

  • In September 2022, Deere & Company recently added three self-propelled forage harvesters to its existing fleet. These machines are tailored specifically for milk and livestock producers, farmers, and harvesters; they may help contractors overcome problems like shorter harvest windows and a limited pool of experienced workers.
  • In October 2021, Trimble Inc. launched two new displays, GFX-1060 & GFX-1260, for precision agriculture applications. These next-generation displays allow farmers to perform in-field tasks quickly and effectively. They can map and monitor the field data in real-time precisely.
  • In April 2021, Topcon Positioning Systems has introduced its AGM 1 and AGS 2 manual guidance and autosteering receivers, as well as Topnet Live’s cellular and satellite bridging services Realpoint Skybridge and Starpoint. These receivers can be utilized for machine operations as well as all related tasks that need tracking data to optimize crop yields, such as soil preparation, harvesting, and seeding.

For more insights on the historical and Forecast market data from 2016 to 2032 – download a sample report at https://market.us/report/smart-farming-market/request-sample/

Key Market Segments:

Based on Offering

  • Hardware
  • Software
  • Services

Based on Agriculture Type

  • Precision Farming
  • Livestock Monitoring
  • Precision Aquaculture
  • Precision Forestry
  • Smart Greenhouse
  • Other Types

Based on Farm Size

  • Small Farms
  • Medium Farms
  • Large Farms

By Geography

  • North America
    • The US
    • Canada
    • Mexico
  • Western Europe
    • Germany
    • France
    • The UK
    • Spain
    • Italy
    • Portugal
    • Ireland
    • Austria
    • Switzerland
    • Benelux
    • Nordic
    • Rest of Western Europe
  • Eastern Europe
    • Russia
    • Poland
    • The Czech Republic
    • Greece
    • Rest of Eastern Europe
  • APAC
    • China
    • Japan
    • South Korea
    • India
    • Australia & New Zealand
    • Indonesia
    • Malaysia
    • Philippines
    • Singapore
    • Thailand
    • Vietnam
    • Rest of APAC
  • Latin America
    • Brazil
    • Colombia
    • Chile
    • Argentina
    • Costa Rica
    • Rest of Latin America
  • Middle East & Africa
    • Algeria
    • Egypt
    • Israel
    • Kuwait
    • Nigeria
    • Saudi Arabia
    • South Africa
    • Turkey
    • United Arab Emirates
    • Rest of MEA

Competitive Landscape

In their quest to expand their product range, industry players engage in inorganic growth strategies like mergers and acquisitions. Ag Leader Technology, for example, upgraded its In Command displays in November 2020 and added SteadySteer and SteerCommand Z2 to its SteerCommand product line. These products offer end-users a single interface that controls and steers all farm equipment.

Key Market Players:

Listed below are some of the most prominent smart farming industry players.

  • Ag Leader Technology
  • AGCO Corporation
  • AgJunction Inc.
  • AgEagle Aerial Systems Inc.
  • Autonomous Solutions Inc.
  • Argus Control Systems Ltd.
  • BouMatic Robotic B.V.
  • CropMetrics LLC.
  • CLAAS KGaA mbH
  • CropZilla Software Inc.
  • Deere & Company
  • DICKEY-john Corporation
  • Dronedeploy.com
  • DeLaval Inc.
  • Farmers Edge Inc.
  • Grownetics Inc.
  • Granular Inc.
  • Gamaya Inc.
  • GEA Group Aktiengesellschaft
  • Raven Industries Inc.
  • Trimble Inc.
  • Topcon Positioning Systems Inc.
  • Other Key Players

Related Reports:

  • Vertical Farming Market size is expected to be worth around USD 35.3 Billion by 2032 from USD 5.6 Billion in 2022, growing at a CAGR of 20.80% during the forecast period from 2023 to 2032.
  • Indoor Farming Market size is expected to be worth around USD 151.36 Billion by 2032 from USD 40.12 Billion in 2022, growing at a CAGR of 14.2 % during the forecast period 2022 to 2032.
  • Precision farming market is estimated to reach USD 7,100 million by 2022. This growth rate will increase at a (CAGR) of 13.2% compound annual growth rate from 2022 to 2032.
  • Controlled environment agriculture market size is expected to be worth around USD 377.6 billion by 2032 from USD 74.4 billion in 2022, growing at a CAGR of 18.13% during the forecast period 2022 to 2032.
  • Hops Market size is expected to be worth around USD 49.9 Billion by 2032 from USD 33.1 Billion in 2022, growing at a CAGR of 4.20% during the forecast period from 2023 to 2032.
  • Seed treatment market was valued at USD 6.1 billion in 2021 and is projected to reach USD 13.54 billion growing at a compound annual growth rate (CAGR) of 8.3%, between 2023 and 2032.

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TREEFROG THERAPEUTICS PICKS-UP BEST POSTER AWARD AT THE INTERNATIONAL SOCIETY FOR CELL & GENE THERAPY (ISCT) ANNUAL MEETING FOR THEIR CELL THERAPY PROGRAM IN PARKINSON’S DISEASE

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–  Treefrog will present two posters on their cell therapy program in Parkinson’s Disease and their proprietary encapsulation technology, C-Stem™ –  
BORDEAUX, France, May 29, 2024 /PRNewswire/ — TreeFrog Therapeutics has a busy schedule at the ISCT’s 30th annual meeting, taking place in Vancouver, Canada this week, with two posters being presented, one of which has been awarded the Best Poster in the iPSC category. A poster on their transformational encapsulation technology, C-Stem™, will also be presented. 

TreeFrog is a cell therapy company with a lead program in Parkinson’s disease, a complex neurodegenerative disease with no cure and treatments that offer symptomatic relief only. Decades of research demonstrate that cell therapy holds immense promise for Parkinson’s disease, with multiple clinical trials ongoing. However, the manufacturing of these cells must overcome major pharmaceutical challenges, including scalability, to be compatible with potential commercial phases. The cell therapy program at TreeFrog is based on C-Stem™, a proprietary technology platform that overcomes these challenges. In 2021, the company achieved a world-first of producing 15billion iPSCs in one run, in one week.
Michael Lanero Fidalgo, Chief Operating Officer, will represent the company for the Best Poster in the iPSC category, an award designed to recognize outstanding abstracts related to iPSC research. Poster #1219, First Off-The-Shelf Bioreactor Produced, iPSC-Derived Neural Microtissues Containing Dopaminergic Neurons Innervate the Striatum and Normalize Behavior in a Parkinson Rat Model, is also one of only twenty posters chosen for an elevator pitch presentation from the overall 600 considered.
Kevin Alessandri, co-founder and Chief Technology Officer, will present poster #1200 Cell encapsulation as a tool for stem cell-based cell therapy industrialization, a deep dive into how the C-Stem™ technology, can overcome the bottlenecks of the complex Chemistry, Manufacturing and Controls (CMC) in cell therapy. He will also participate as a KOL in the JSRM-ISCT iPSC workshop event iPSCs: From Bench to Bedside’ Scientific Signature Series.
Events:
Elevator Pitch presentation by Michael Lanero-Fidalgo, representing lead authors Nicolas Prudon & Lucia Cordero Espinoza May 29th, 2024 @ 12:00 – 13:00, Room 201iPSC Poster Presentation Networking reception (Posters #1219 & #1200) May 30th @ 18:00 – 19:30 Exhibit & Poster HalliPSC: Bench to Bedside: Scientific Signature Series, participation of Kevin Alessandri as KOL. June 1st, 2024 @ 7:30 – 16:00, Room 212-214www.treefrog.fr
CONTACT:  Rachel MooneyChief Communications OfficerTreeFrog Therapeutics [email protected]  
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US Air Force Awards ThroughPut.ai Direct-to-Phase-II Contract for Boeing, Lockheed Martin, and Sikorsky Mission Design Series to Accelerate Aircraft Readiness

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Leveraging Data to Drive Maintenance-first actions that improve overall supply chain throughput across the DAF.
NEW YORK, May 28, 2024 /PRNewswire/ — ThroughPut.ai, the Supply Chain Decision Intelligence Pioneer, announces it has been selected by AFWERX for a (SBIR Direct-to-Phase II contract) in the amount of $1,248,627.00 focused on “AI-Powered Proactive Supply Chain Capabilities” to address the most pressing challenges in the Department of the Air Force (DAF). The Air Force Research Laboratory and AFWERX have partnered to streamline the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) process by accelerating the small business experience through faster proposal to award timelines, changing the pool of potential applicants by expanding opportunities to small business and eliminating bureaucratic overhead by continually implementing process improvement changes in contract execution. The DAF began offering the Open Topic SBIR/STTR program in 2018 which expanded the range of innovations the DAF funded and now on April 17th, 2024, ThroughPut.ai will start its journey to create and provide innovative capabilities that will strengthen the national defense of the United States of America.

“ThroughPut.ai looks forward to supporting efforts to accelerate inventory flow across the United States Air Force,” said Ali Raza, CEO & Founder of ThroughPut.ai. “By driving inventory/materiel management changes at the maintenance endpoint first, supply chain improvements can then be amplified across the greater industrial base to create aircraft capacity.”
“The views expressed are those of the author and do not necessarily reflect the official policy or position of the Department of the Air Force, the Department of Defense, or the U.S. government.”
About (ThroughPut.ai)
ThroughPut.ai is a Silicon Valley-based supply chain optimization & predictive replenishment company. The company’s software AI platform has the ability to identify location-, product-, and customer-based demand changes sooner in order to adjust order frequencies, vendor sources, and parts buffer levels at a global and local scale. ThroughPut’s platform was designed by Fortune 500 & technology executives with real-world experience managing demand & supply chain disruptions and war-zone logistics across the Middle East.
About AFRLThe Air Force Research Laboratory is the primary scientific research and development center for the Department of the Air Force. AFRL plays an integral role in leading the discovery, development, and integration of affordable warfighting technologies for our air, space and cyberspace force. With a workforce of more than 12,500 across nine technology areas and 40 other operations across the globe, AFRL provides a diverse portfolio of science and technology ranging from fundamental to advanced research and technology development. For more information, visit afresearchlab.com.
About AFWERXAs the innovation arm of the DAF and a directorate within the Air Force Research Laboratory, AFWERX brings cutting-edge American ingenuity from small businesses and start-ups to address the most pressing challenges of the DAF. AFWERX employs approximately 370 military, civilian and contractor personnel at five hubs and sites executing an annual $1.4 billion budget. Since 2019, AFWERX has executed over 6,100 new contracts worth more than $4 billion to strengthen the U.S. defense industrial base and drive faster technology transition to operational capability. For more information, visit: www.afwerx.com. 
Company Press Contact:Ali RazaCEO/[email protected] 

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Data Center Investments Soar: 200% Rise Since 2016 and Projected 89% Increase by 2028

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USA News Group CommentaryIssued on behalf of Avant Technologies Inc.
VANCOUVER, BC, May 28, 2024 /PRNewswire/ — Since 2016, investment in data centre infrastructure has risen 200%, with a further 89% increase expected by 2028 as more opportunities emerge with the rise of artificial intelligence (AI). According to Jones Lang LaSalle Inc.’s CEO Christian Ulbrich, data centers are “the hottest asset class at the moment.” Analysts at Technavio are projecting the global data center market to record an additional US$329.82 billion in growth at a CAGR of 12.73% through 2027. Capitalizing on the opportunity are several players recently announcing developments regarding their involvement in the data centers sector, including

Avant Technologies Inc. (OTCQB: AVAI), Amazon.com, Inc. (NASDAQ: AMZN), Applied Digital Corporation (NASDAQ: APLD), Digital Realty Trust, Inc. (NYSE: DLR), and Equinix, Inc. (NASDAQ: EQIX).
As an early pioneer in generative AI, Avant Technologies Inc. (OTCQB: AVAI) continues to enhance its flagship asset, Avant AITM, a sophisticated machine and deep learning AI system designed for versatility and customization across various industries and applications. Recently, Avant announced plans to equip its AI-managed data center, currently in development, with High-Performance Computing (HPC) systems. According to IBM, HPC technology utilizes clusters of powerful processors working in parallel to process massive multi-dimensional data sets and solve complex problems at exceptionally high speeds.
“The rise of AI is revolutionizing industries, and Avant Technologies is committed to being at the forefront of this transformation,” said William Hisey, CEO of Avant. “By building an AI-managed data center with HPC systems, we will gain the computational power and infrastructure required to train and deploy sophisticated AI models, which will ultimately provide even greater value to our customers.”
The new data center will leverage AI-driven management technology to optimize resource allocation and enhance efficiency in all aspects of data center operations. Avant will meticulously design its HPC infrastructure to meet the demands of AI workloads, selecting high-performance CPUs and GPUs (or TPUs) specifically suited for deep learning tasks. This cutting-edge facility will enable Avant to accelerate AI advancements, delivering innovative solutions to clients by improving data center efficiency and empowering them with exceptional AI capabilities.
Additionally, Avant will implement a high-speed network to ensure efficient data transfer and select a scalable storage solution to manage the large datasets necessary for training and utilizing AI models. The HPC systems will prioritize security, incorporating robust measures to protect sensitive data and create a secure environment for AI deployment. Furthermore, the data center will integrate energy-efficient technologies and sustainable design practices, reflecting Avant’s commitment to environmental responsibility.
Avant Technologies also recently announced plans to implement AI-empowered Zero Trust Architecture (ZTA) across its data center operations. Additionally, the company has expanded its AvantAI™ platform to include intelligent, proactive monitoring and management for data centers.
Over the past few weeks Amazon.com, Inc. (NASDAQ: AMZN) has collectively committed to investing $20 billion into new data centers for its subsidiary Amazon Web Services (AWS). The first to be announced was an $11-billion data center to be built in Indiana, with another $9 billion set to accelerate cloud-infrastructure in Singapore. The moves fall in line with Amazon CEO Andy Jassy’s projection that 85% of IT spending will remain on premises, in the race for Gen AI supremacy.
Amazon also recently announced an extension on its partnership between AWS and CrowdStrike to unify cybersecurity protection on its CrowdStrike Falcon platform. As per the agreement, Amazon is replacing a variety of cloud point products with Falcon Cloud Security, is using Falcon Next-Gen SIEM to secure big data logging and is deploying Identity Threat Detection and Response to prevent identity-based attacks.
“CrowdStrike and AWS have a deep history of working together to secure the most innovative companies in the world,” said CJ Moses, Chief Information Security Officer and Vice President of Security Engineering at Amazon. “Amazon uses CrowdStrike to provide visibility, detection, and response across our businesses in order to protect the cloud, infrastructure, and services for our customers. This is part of our shared mission to help all organizations build, operate, and secure their business.”
In a move to shore-up its market position as a designer, builder, and operator of next-generation digital infrastructure designed for High-Performance Computing (“HPC”) applications, Applied Digital Corporation (NASDAQ: APLD) recently announced the appointment of industry veteran Todd Gale as its new Chief Development Officer. The announcement came just one month after the company announced it had issued a $50 million unsecured convertible debenture to advance its HPC Data Center Project in Ellendale, North Dakota.
“We intend to use the net proceeds from the private financing, supplemented by the proceeds from our announced sale of the Garden City facility, to finance substantial advancements in our construction phase of the HPC data center in Ellendale, North Dakota,” said David Rench, CFO of Applied Digital. “Concurrently, we continue negotiating our project-level financing to ensure timely project completion and fulfillment of our contractual obligations.”
Applied Digital intends to utilize chipmaking giant NVIDIA’s new Blackwell platform into its cloud offerings. The company’s next-generation data center campuses are specifically designed to host HPC/AI applications, offering more cost-effective and efficient alternatives to traditional data centers.
In Japan, Digital Realty Trust, Inc. (NYSE: DLR) recently announced the expansion of its NRT Campus, by commencing construction of its third data center to support AI. Upon completion of the site in late 2025, the campus’s capacity will rise to 104MW, with the intention of meeting rising demand for next-generation infrastructure, and seamless access to Japan’s connected data communities.
“Japan’s rapidly increasing demand for AI deployments creates the need for scalable, flexible, and highly connected AI-ready data centers in the Tokyo metropolitan area,” said Serene Nah, Managing Director and Head of Asia Pacific, Digital Realty. “We believe NRT14’s next-generation data center infrastructure and Digital Realty’s connected global open data center platform provide the foundational pillars our customers need to drive innovation in the coming years.”
Equinix, Inc. (NASDAQ: EQIX), another digital infrastructure company, has recently launched a $600 million joint venture with PGIM Real Estate to develop and operate the first xScale data center in the US, situated in California’s Silicon Valley. This follows their successful collaboration on the first xScale data center in Australia in 2022, which was part of a similar $575 million joint venture announced in 2021.
Under the terms of the new agreement, PGIM Real Estate will hold an 80% equity interest in the joint venture, while Equinix will retain a 20% equity stake. xScale data centers by Equinix enable hyperscale companies to expand their core deployments within Equinix’s IBX data centers, facilitating growth in over 70 global metros through a platform that supports direct interconnections with more than 10,000 customers.
This joint venture complements Equinix’s existing hyperscale collaborations in Europe, Asia-Pacific, and the Americas, significantly enhancing the global xScale data center portfolio. Once completed, this global expansion is set to exceed $8 billion, encompassing more than 35 facilities and providing over 725 megawatts of power capacity.
Source: https://usanewsgroup.com/2023/10/26/unlocking-the-trillion-dollar-ai-market-what-investors-need-to-know/ 
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