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Smart Boats Market to Experience Robust Growth at a CAGR of 7.1% during 2022-2032, According to Market.us Report

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New York, April 18, 2023 (GLOBE NEWSWIRE) — The global Smart Boats Market size was valued to be worth USD 37.5 billion in 2022. From 2023 to 2032, it is estimated to reach USD 73.2 billion growing at a CAGR of 7.1%. Smart boats, also referred to as autonomous or self-driving boats, are watercraft that navigate and operate without manual input. These vessels are equipped with various cameras, sensors, and GPS technology which enables them to make intelligent decisions and adjust course accordingly. Smart boats have various applications such as water sports, sailing, fishing, cargo transportation, surveillance, and recreational activities; they have the potential to revolutionize marine transportation by reducing human error risks, improving efficiency levels, and cutting costs. Nonetheless, there remain concerns about safety standards, job security risks, and possible job impacts within this sector.

Smart Boats Market

Get additional highlights on major revenue-generating segments, Request a Smart Boats Market sample report at https://market.us/report/smart-boats-market/request-sample/

Key Takeaway:

  • By boat type, in 2022, the Smart Boats Market was dominated by unpowered types of boats.
  • On the basis of power, Engine powered boats are the most lucrative among all the types of boats.
  • By the raw material, the wood segment is dominant because wood is a classic material used in boat construction that provides an aged aesthetic.
  • From applications, it is concluded that smart boats are becoming more and more commonplace in the fishing industry, as they come equipped with cutting-edge technologies that improve efficiency and safety while fishing.
  • In 2022, North America dominated the market with the highest revenue share of 41%.
  • APAC is anticipated to have the highest CAGR among all the regions, owing to affordable prices, increasing tourism, as well as an increase in the use of advanced technologies.

Factors affecting the growth of the Smart Boats industry

There is a number of factors that can affect the growth of the smart boats industry. Some of them include:

  • Technological Advancements: The smart boats industry is heavily dependent on technology, and advances in sensors, artificial intelligence, and connectivity, that could significantly influence its growth. As new tools emerge it will become easier and more cost-effective to add smart features to boats which could ultimately lead to an increase in demand for such services.
  • Growing Interest in Boating: As more people take up boating as a hobby or leisure activity, the demand for smart boats is expected to increase. Smart boats offer numerous advantages like improved safety, greater convenience, and improved performance that may make them more appealing to boaters.
  • Economic Conditions: Economic conditions can have an impact on the growth of the smart boat industry. During times of prosperity, people may be more inclined to invest in luxury items like smart boats; conversely, during economic downturns, demand may decrease significantly.
  • Competition: The smart boat industry is becoming more and more competitive, with new players entering the market and established players expanding their offerings. While competition can drive innovation and result in improved products, it may make it more challenging for smaller firms to stay abreast of developments.
  • Government Regulations: Alterations in government regulations can have an impact on the growth of the smart boat industry. For instance, mandates mandating certain safety features or emissions standards could make smart boats more appealing to boaters.

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Global Smart Boats Market Trends

  • More people using electric and hybrid propulsion systems: More businesses are moving to electric and hybrid propulsion systems in response to the rising demand for eco-friendly smart boats. These solutions include lowered running costs, increased fuel efficiency, and decreased emissions.
  • Integrating Modern Technology: With capabilities like remote monitoring and control, autonomous navigation, and other cutting-edge technology, smart boats are getting more and more sophisticated. In addition to increasing consumer appeal, this integration enhances safety and convenience on board.

Market Growth

The market for smart boats is expected to grow at a significant rate over the coming years due to a number of factors. The growing popularity of recreational boating will fuel demand for boats that feature advanced technology. Smart boats offer various advantages, such as improved safety, convenience, and performance that may make them more appealing to boaters. Another factor fuelling the growth of the smart boats market is technological advances, which make it simpler and more affordable to add smart features to boats. Moreover, changes in government regulations and economic conditions may influence market development for smart boats. The market for smart boats is becoming more and more competitive, with new companies entering and established players expanding their offerings. This has resulted in increased innovation and an improvement of quality among smart boats available to consumers.

Regional Analysis

North America dominates the market for smart boats, With a 41% market share.  Due to the boom in recreational boating and the abundance of manufacturers in this region. North America is one of the top marketplaces for this product category. Europe is another dominant market for smart boats. Asia-Pacific is presently experiencing phenomenal growth in this sector as recreational boating activities become more popular and demand for environmentally friendly watercraft rises in nations like China, Japan, and Australia. With growing disposable incomes, booming tourism sectors, and a focus on eco-friendly transportation, the demand for smart boats is increasing in other regions, such as South America, the Middle East, and Africa. As this market continues to expand globally, regional differences in demand and consumer preferences will likely encourage product innovation and diversification.

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Scope of the Report

Report Attribute Details
Market Value (2022) USD 37.5 billion
Market Size (2032) USD 73.2 billion
CAGR (from 2023 to 2032) 7.1%
North America Revenue Share 41.0%
Historic Period 2016 to 2022
Base Year 2022
Forecast Year 2023 to 2032

Market Drivers

The smart boat market is being driven by several factors. There is a growing demand for technology-driven solutions that improve safety, comfort, and performance on boats, this is the major driver for this market. Boat owners are seeking ways to enhance their boating experience through the integration of smart features and systems. Furthermore, sustainability is becoming a more prominent concern with boating activities; smart boats can help meet these objectives by offering more efficient propulsion systems, cutting fuel consumption, and monitoring environmental factors like water quality and marine life better; all while increasing sustainability efforts.

Market Restraints

Though the smart boat market has many positive aspects, there are also significant obstacles preventing its expansion. Primarily the high cost of smart technology and systems, which may make them inaccessible to some boat owners, especially smaller vessels or those owned by individuals or families with limited budgets. Furthermore, boating industry regulations about safety, environmental protection, and privacy can be complex for manufacturers and owners to navigate when implementing new and emerging smart technologies.

Market Opportunities

The smart boat can enhance safety and security for boat owners and passengers, these vessels can be tracked and located using GPS technology – an invaluable asset during emergencies. The growing tourism sectors offer phenomenal opportunities to this market. Another potential opportunity in the smart boat market lies in their increased efficiency and cost-saving capabilities. Equipped with advanced monitoring systems, smart boats can optimize fuel consumption and cut maintenance expenses significantly – particularly beneficial to commercial users such as shipping companies or fishing fleets which will save considerable amounts of money over time.

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Report Segmentation of the Smart Boats Market

Boat Type Insight

Unpowered boats, inboard boats, motor boats, and personal watercraft make up the different categories of boats in the market for smart boats. The industry leader in this segment is unpowered boats. These are boats that are propelled by oars, sails, or other non-motorized means rather than an engine. Rowboats, paddles, and kayaks are some examples. Unpowered boats are still extensively used for recreation, fishing, and other activities even though they may not be as common as motorized boats in some situations. The next important market category is inboard boats, which are larger boats and yachts that have their engines mounted inside the hull of the boat.

Power Insight

The market is segmented into sail-propelled boats, engine-powered boats, battery-powered boats, and solar-powered boats based on the type of electricity used for boats. Of all boat kinds, boats with engines are the most profitable. These vessels are propelled by internal combustion engines or electric motors. Boats with inboard, outboard, or hybrid engines that combine the two kinds of power are included. Sail-propelled boats, which are well-liked for both racing and leisure sailing, are propelled forward by the breeze. Advanced navigation and communication systems can be added to smart sailboats to improve efficiency and safety.

Raw Material Insight

Boats are constructed using a variety of raw materials, such as wood, GRP, aluminum, and steel. Wood is the primary element derived from these raw ingredients and gives off an aged appearance due to its age-old tradition. It is often employed in the construction of luxury ships and yachts; however, it requires additional upkeep to prevent rot or deterioration. Aluminium, with its lightweight and resistance to corrosion, is often used on smaller recreational boats as well as commercial vessels. Fiberglass has also become increasingly popular as a hull material due to its strength, affordability, and ease of molding complex shapes or features – making it perfect for boats with unique shapes or features.

Application Insight

The market for smart boats is segmented based on applications into fishing, sailing, water activities, military uses, and other uses. Thanks to their cutting-edge technology which enhances fishing efficiency and safety, smart boats are becoming more commonplace in the fishing business. Smart boats can also be utilized for water activities like wakeboarding, water skiing, and tubing – giving you even more chances to have an exciting on-land adventures. For optimal conditions for these activities, boats may have advanced wake-shaping systems, ballast tanks, and speed control equipment. In the sailing industry, “smart boats” are becoming more and more commonplace as they can be outfitted with advanced navigation and communication systems that enhance performance and safety.

Recent Development of the Smart Boats Market

In 2022: Autonomous boats, which use AI-driven technology to navigate waters and avoid obstacles, are becoming more in demand. As more boaters seek ways to enhance their boating experiences with cutting-edge technology, this trend is expected to continue in the years ahead.

In 2021: The use of AR technology in smart boats is becoming more and more prevalent. Yamaha Motor Co.Ltd. recently unveiled their brand-new augmented reality-based boat navigation system that utilizes a head-mounted monitor to display real-time information about the environment.

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

Market Segmentation

Based on Boat Type

  • Unpowered Boats
  • Inboard Boats
  • Outboard Boats
  • Personal Watercrafts

Based on Power

  • Sail Propelled Boats
  • Engine Powered Boats
  • Battery Powered Boats
  • Solar Boats

Based on Raw Material

  • Wood
  • GRP
  • Aluminium
  • Steel
  • Other Materials

Based on Application

  • Fishing
  • Water Sports
  • Sailing
  • Military Applications
  • Other applications

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

The market for smart boats is expected to grow significantly over the next few years as more boat owners express an interest in utilizing cutting-edge technology to enhance their sailing experience. Numerous smart boat products, such as GPS navigation systems, autopilot systems, vessel surveillance systems, and smart boat engines are offered by competitor companies. Garmin, Navico, and Brunswick Corporation are among the top firms in the sector and command substantial market shares in both North America and Europe.

Some of the major players include:

  • Brunswick Corporation
  • Groupe Beneteau
  • Azimut Benetti Group
  • Sunseeker International Ltd
  • Lund Boats
  • Tracker Boats
  • Ranger Boats
  • Hobie Cat Company
  • Marin Product Corporation
  • Bennington Marin LLC
  • Navico
  • Brunswick Corporation
  • Other Key Players

Related Reports:

  • Global Recreational Boat Market was valued at USD 33.6 Billion and is expected to reach USD 58.8 billion between 2023 and 2032, this market is estimated to register a CAGR of 5.9%.
  • The market for electric ships was valued at USD 8.01 billion in 2021 and is expected to reach USD 26.53 billion, increasing at a CAGR of 11.5 % from 2021 to 2032.
  • The marine composites market was worth USD 4,300 million in 2021, and it is expected to grow at a 5.2% CAGR between 2023 and 2032.
  • Yacht Market was valued at USD 9.7 Billion this market is expected to reach USD 16.8 billion registering the highest CAGR of 5.8% during the forecast period of 2023 to 2032.

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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

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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

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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

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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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View original content:https://www.prnewswire.co.uk/news-releases/congregating-in-the-lion-city-for-a-win-win-future-of-intelligent-computing-at-the-global-data-center-facility-summit-2024-302148973.html

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