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Automotive Energy Recovery Systems Market revenue to cross USD 170 Billion by 2033, says Research Nester

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New York, July 06, 2023 (GLOBE NEWSWIRE) — The global automotive energy recovery systems market is estimated to grow at a CAGR of ~9% from 2023 to 2033. The market is estimated to garner revenue of ~USD 170 billion by the end of 2033, up from a revenue of ~USD 70 billion in the year 2022 backed by the increased focus on reducing vehicular emissions and the government’s initiatives to reduce the dependency on fossil fuels. The use of energy recovery systems in the automotive industry helps to improve fuel efficiency and reduce emissions. It is estimated that an average passenger vehicle emits 4.6 metric tons of carbon dioxide per year.

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Moreover, governments are actively looking to reduce the amount of air pollution created by vehicles, as the current levels have been linked to health issues and climate change. According to WHO, 4.2 million premature deaths were attributed to outdoor air pollution worldwide in 2019. Therefore, initiatives have been established to reduce vehicular and industrial pollution, such as introducing more energy-efficient vehicles, incentivizing the use of public transportation, and setting limits on emissions. For instance, for passenger cars and light trucks in the United States through 2026, federal greenhouse gas (GHG) emissions standards have been finalized by the Environmental Protection Agency (EPA). The standards set a limit for emissions of carbon dioxide, methane, and other GHGs from these vehicles. Thus, these initiatives are expected to drive the growth of the global automotive energy recovery systems market as these systems are used to reduce emissions and improve fuel efficiency.

Global Automotive Energy Recovery Systems Market: Key Takeaways

  • Market in Asia Pacific to grow at the fastest rate in the next few years
  • Regenerative Braking System segment to garner the highest growth
  • Market in North America to witness substantial growth in the coming years

Development of High-Performing, Low-Cost Energy Recovery Systems for Vehicles, Owing To Technological Advancements to Boost Market Growth

Automobile companies are investing heavily in research and development in order to develop more efficient and cost-effective solutions for the automotive industry. As a result, there has been the development of advanced automotive energy recovery systems that have the potential to significantly reduce energy consumption and costs. This, in turn, is expected to drive market growth in the coming years. For instance, in August 2019, Hyundai Motor Group launched the world’s first CVVD (Continuous Variable Valve Duration) engine, a 14 gasoline turbo with 180 horsepower and 27.0 kilograms of torque and recirculation of exhaust gases to maximize fuel economy with its Smartstream G1.6 T-GDi Engine. Moreover, government initiatives involving the adoption of hybrid and electric buses in many countries around the world are also contributing to the growth of the energy recovery system market, as they require RBS to be installed in order to be more efficient. For instance, in 2022, BYD introduced the Type A electric school bus, a battery-electric vehicle that included standard safety features including an electronic stability control system to ensure better handling, electronic braking system to ensure more evenly distributed brake force, and a high strength steel construction body. As these vehicles become more prevalent, there is a greater need for energy recovery systems to reduce the amount of energy consumed. These systems can help to reduce fuel costs, as well as carbon emissions, making them more attractive to consumers. This in turn is expected to create market opportunities for the automotive energy recovery systems market over the forecast period.

Global Automotive Energy Recovery Systems Market: Regional Overview

The global automotive energy recovery systems market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region. 

Huge Production of Electric Vehicles to Spur the Market Growth in the Asia Pacific Region

The automotive energy recovery systems market in Asia Pacific region is estimated to garner the largest revenue by the end of 2033 backed by the rising demand for electric vehicles as batteries used in electric vehicles require a lot of energy in order to power them, and energy recovery systems help to reduce the amount of energy needed. Furthermore, the high level of investments being made by governments and manufacturers into the development of electric vehicles is expected to create lucrative business opportunities for automotive energy recovery systems. For instance, in 2019, the Chinese government invested a total of USD 60 billion in the electric mobility sector in the form of subsidies and other financial incentives. The increased demand for EVs and their advanced features, such as battery management systems, advanced driver assistance systems, and regenerative braking systems is anticipated to drive the regional market growth. As these systems help to reduce the amount of energy lost during braking, this helps to increase the range of EVs. Moreover, the growing demand for heavy commercial vehicles owing to the growth in logistics, warehousing, and freight services, as a result of the rise of the e-commerce sector in the region and the rising disposable incomes in many countries in this region have increased the demand for personal vehicles, which is further expected to drive the demand for automotive energy recovery systems in the coming years.

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Increasing Demand for Hybrid Vehicles to Boost the Growth in the North American Region

The automotive energy recovery systems market in North America is anticipated to see the highest CAGR by the end of 2033 owing to the rapid expansion of the automotive industry and rising demand for energy-efficient cars, as well as increasing environmental awareness among consumers. For instance, light vehicle sales in the United States reached 14 million units in 2020. Globally, the United States ranks second in both vehicle production and sales. The United States produced 5 million vehicles in 2020 from international automakers. Moreover, the increasing production of hybrid and electric vehicles and the increasing number of government initiatives to promote the use of energy-efficient vehicles are also expected to contribute to the growth of the market in the region. It was observed that hybrid vehicles sold in the U.S. in 2021 accounted for 4% of all light vehicles sold in the country, up 75% from 2021. Hybrid vehicles use both electric and gasoline engines, and the energy recovery systems allow for more efficient use of the energy produced by the engines. This allows drivers to get more power out of their vehicles while using less fuel, making them more cost-efficient and environmentally friendly. Moreover, the use of advanced technology such as sensors, cameras and artificial intelligence in the automotive industry is stoking the demand for energy recovery systems in North America as these technologies require larger amounts of power, thus creating a need for efficient energy recovery systems.

Global Automotive Energy Recovery Systems Market, Segmentation by Type

  • Regenerative Braking System
  • Exhaust Gas Recirculation (EGR)
  • Turbochargers

The regenerative braking system segment is anticipated to hold the largest revenue by the end of 2033. The regenerative braking system recovers kinetic energy from the wheels of the vehicle and converts it into electrical energy. This energy is then used to power the vehicle, which reduces fuel consumption and emissions. It is also relatively easy to install and is becoming increasingly popular due to its cost-effectiveness. Moreover, the rising demand for electric vehicles is also anticipated to drive the regenerative braking system segment growth over the forecast period. Since electric vehicles are powered by batteries and have electric motors that require the use of a regenerative braking system to convert the kinetic energy produced during braking into electrical energy, which can be stored in the vehicle’s battery for later use. Worldwide, around 18 million electric vehicles, including all-electric cars and plug-in hybrids, were sold between 2012 and 2021. Also, electric cars, buses, vans, and heavy trucks are expected to comprise 143 million vehicles on the roads by 2030. Thus, the rise of electric vehicles has caused a surge in demand for regenerative braking systems, which has driven up the CAGR of the segment.

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Global Automotive Energy Recovery Systems Market, Segmentation by Application

  • Passenger Vehicle
  • Commercial Vehicle

The commercial vehicle segment is anticipated to hold the largest revenue by the end of 2033 backed by the increasing demand for energy recovery systems in commercial vehicles such as trucks and buses for improved fuel efficiency and reduced emissions. Commercial vehicles account for a large portion of the total vehicular traffic, especially in urban areas. Also, as commercial vehicles travel longer distances, they are more likely to require more energy for their operations. Automotive Energy Recovery Systems can help reduce the fuel costs for these vehicles, making them a more attractive option for businesses. Further, the increasing number of road and highway projects which require the transportation of goods and people and the growing trend of urbanization are also expected to contribute to the growth of the commercial vehicle segment, as more people move to cities and require efficient transportation options. Based on 2023 statistics, there are 14,180 14,180 businesses engaged in Road and Highway Construction in the United States, an increase of 0.5% in comparison with 2022.

Global Automotive Energy Recovery Systems Market, Segmentation by Vehicle Type

  • Electric Vehicles
  • Hybrid Vehicles
  • Plug-in Hybrid Electric Vehicles

Few of the well-known market leaders in the global automotive energy recovery systems market that are profiled by Research Nester are General Motors, Mitsubishi Heavy Industries, Ltd., Continental AG, Robert Bosch GmbH, Delphi Group, Panasonic Holdings Corporation, Faurecia, Tenneco Inc., Cummins Inc, and other key market players.

Recent Development in the Global Automotive Energy Recovery Systems Market

  • A new Battery Impact Detection (BID) system and a Current Sensor Module (CSM) have been released by Continental AG for electrified vehicles. The BID system monitors the state of charge of the battery and detects potential damage caused by deep discharge. The CSM also monitors the current draw of the battery and can be used to adjust the power output of the battery. Both systems are designed to help protect the battery and extend its life.
  • The General Motors Company announced the features of its Ultium-based EVs, which can capture and recycle battery waste energy. The Ultium Platform produces waste energy that can be used to increase a vehicle’s range, increase the speed of charging, reduce the amount of energy needed for heating, and even enable sportier driving.

About Research Nester

Research Nester is a one-stop service provider with a client base in more than 50 countries, leading in strategic market research and consulting with an unbiased and unparalleled approach towards helping global industrial players, conglomerates and executives for their future investment while avoiding forthcoming uncertainties. With an out-of-the-box mindset to produce statistical and analytical market research reports, we provide strategic consulting so that our clients can make wise business decisions with clarity while strategizing and planning for their forthcoming needs and succeed in achieving their future endeavors. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds.


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Artificial Intelligence

Rainbow Robotics begins pre-orders of Bimanual Mobile Manipulator RB-Y1, the world’s first research platform for AI experts for $80,000 USD

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DAEJEON, South Korea, May 9, 2024 /PRNewswire/ — Rainbow Robotics(CEO Jungho Lee), a robot platform specialized company, will begin pre-orders for the Bimanual Mobile Manipulator RB-Y1 from May 8.

During the pre-order period, the research platform is sold for $80,000 USD and the commercial platform is sold for $120,000 USD (VAT excluded). Products are scheduled to be delivered sequentially starting in October.
RB-Y1 is a research platform that has both arms with 7 degrees of freedom per arm for smooth movements similar to human movements. It is a humanoid-like robot with a single leg with 6 degrees of freedom on a mobile platform for a wide work radius. The LiDAR system is adopted for autonomous movement, and a high-performance 3D recognition sensor and master ARM are provided as options to increase usability. In line with the recent trend of the AI era, Rainbow Robotics plans to provide various APIs and options so that AI developers can easily utilize them for research purposes.
Recently, various organizations are introducing humanoid robots. However, they are only used for their own purposes and there is no standard platform for various AI robot researchers. Rainbow Robotics’ RB-Y1 is the first to commercially sell such a research platform.
Unlike existing simple industrial robots, a Bimanual Mobile Manipulator is a humanoid robot that uses both arms and is suitable for advanced manufacturing sites and services. It is a next-generation robot platform that can be used for complex assembly, manufacturing, and collaboration beyond existing simple automation processes.
If you would like to pre-order RB-Y1, please contact us through enquiry page or email us at [email protected].
Meanwhile, Rainbow Robotics will participate as a bronze sponsor in the IEEE International Conference on Robotics and Automation (ICRA 2024), which will be held at Pacifico Yokohama, Japan on May 13.
During the exhibition, various demonstrations will be shown of controlling RB-Y1 with real-time remote operation technology, which links the data arm and simulation system. Additionally, Rainbow Robotics plans to exhibit the small, high-precision collaborative robot RB3-730 and the quadruped robot RBQ-10.
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Artificial Intelligence

AgriBusiness Global™ Announces 2024 Event Line-Up: Connecting Crop Input Leaders Worldwide

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WILLOUGHBY, Ohio, May 8, 2024 /PRNewswire/ — AgriBusiness Global, the premier business source for leaders in the global crop input value chain, is thrilled to announce its lineup of events for 2024. For 37 years, AgriBusiness Global has been the go-to resource for quality, trustworthy information and analysis, leading the industry in providing the next generation of crop solutions covering synthetic crop protection, biologicals, and plant health.

In 2024, AgriBusiness Global will host three events, each designed to connect industry leaders, promote innovation, and drive business growth:
AgriBusiness Global℠ LATAM Conference Date: 14-15 MayLocation: Panama City, Panama
Capitalizing on Emerging Technologies in LATAM
The ABG LATAM Conference will bring together industry experts and influencers to discuss the latest trends and developments in crop protection, plant health, biologicals, and ag technology specific to the Latin American region. The Latin-American market offers new opportunities for business growth and partnerships with leading players in the region. Learn More>
AgriBusiness Global℠ Trade Summit Date: 7-8 AugustLocation: Orlando, Florida, USA
The #1 Global Agribusiness Event- Dedicated to Worldwide Networking and New Business Development               
The ABG Trade Summit is the trusted forum for advancing development in the rapidly emerging global crop protection, ag tech, plant health, and biological sectors. Attendees can expect to meet with the world’s leading manufacturers, exporters, trading companies, sellers, formulators, and consultants.  Trade Summit facilitates global trade by offering educational sessions, a robust exhibit floor, private meeting rooms, and dedicated networking opportunities for the world market to connect, engage, and build business. Learn More>
AgriBusiness Global℠ SE Asia ConferenceDate: 6-7 NovemberLocation: Jakarta, Indonesia
Empowering Southeast Asia’s AgriBusiness for Global Impact
The ABG Southeast Asia Conference, produced in cooperation with the Indonesian CropCare Association, will showcase cutting-edge technologies and innovations in crop production, addressing the unique challenges and opportunities in the Southeast Asian market. Attendees will gain unique insights to prepare for the future and navigate the present in the rapidly evolving agricultural market. Learn More>
“Our events are dynamic platforms for industry leaders to connect, collaborate, and drive innovation,” said Eric Davis, Group Director at AgriBusiness Global. “We are excited to bring together the brightest minds in the industry to explore new ideas, foster partnerships, and shape the future of agriculture.”
For information about the 2024 events and how to participate, visit AgriBusinessGlobal.com.
About Meister Media Worldwide
For media inquiries, please contact:Amy Reddington, Show Director
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Artificial Intelligence

Economic Shifts Ahead as AI Integrates Deeply into Work and Society, Fueling $4.4 Trillion Growth

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USA News Group News Commentary
Issued on behalf of Scope AI Corp.
VANCOUVER, May 8, 2024 /PRNewswire/ —  USA News Group News Commentary – New developments in AI technology are currently changing the face of work, economies, and society as we know it, according to analysts at McKinsey & Company who are projecting generative AI (gen AI) could add $4.4 trillion annually to the global economy. Between January and March of this year alone, the world’s largest cloud-computing giants have collectively invested $40 billion mostly into data centres equipped to deal with growing AI workloads, according to The Economist. The shift is leading experts to witness how AI companies are leading a transition from Software-as-a-Service to Service-as-Software, turning the table on the very essence of SaaS, representing a $4.6 trillion opportunity. A variety of tech companies have recently advanced the integration of AI, providing swift, safe, and cost-effective solutions for businesses to adopt artificial intelligence technology this past week, including: Scope AI Corp. (CSE: SCPE) (OTCQB: SCPCF), Meta Platforms, Inc. (NASDAQ: META), Amazon.com, Inc. (NASDAQ: AMZN), Apple Inc. (NASDAQ: AAPL), and C3.ai, Inc. (NYSE: AI).

The article continued: Seeing the extraordinary speed of AI’s advancements and impacts, combined with surging private- and public-sector demand, is causing regulators in the USA and EU to issue legislation calling for action. Now analysts are trying to determine whether the GenAI boom is setting up to be another bubble, or a legitimate long-term investment opportunity.
SCOPE AI PROVIDES CORPORATE UPDATE
Scope AI Corp. (CSE: SCPE) (OTCQB: SCPCF) (FSE: VN8) (“Scope” or the “Company”) today provided an update  on new developments of Scope’s artificial intelligence driven recognition technology called GEM (General Enterprise Machine Learning) system. Built on advanced visual recognition and neural network technology, GEM could advance industries, including Advertising and Gaming, by providing them with new insights and capabilities.
Advertising: GEM aims to enable advertising businesses to personalize ad content based on real-time user behavior analysis. By leveraging visual recognition technology, companies can create highly targeted and engaging ads, maximizing return on ad spend and driving customer engagement to new heights.
Gaming:  In the gaming industry, GEM aims to enhance user experiences by customizing gameplay and recommendations. By analyzing player behavior using neural networks, GEM provides customers and developers with invaluable insights with the intention of optimizing game design, increasing user retention, and maximizing revenue potential.
Unveiling Neural Networks: Neural networks are the foundation of GEM’s technology. These complex algorithms mimic the structure and functionality of the human brain, enabling machines to learn from vast amounts of data and make intelligent predictions and decisions. By harnessing the power of neural networks, GEM offers comprehensive capabilities in advanced pattern recognition, data analysis, and decision-making across industries.
“We’re very pleased at how seamless we were able to streamline, enhance, and strengthen our platform with the latest performance and security upgrades made to our infrastructure”, said Sean Prescott, Founder and Non-Executive Chairman of Scope AI. “The next generation of our platform will set us apart in the kind and sensitivity of data we can process and store. It’s a potential game-changer for the industry.”
Scope’s GEM platform includes advanced features designed to enhance user experience and security, all while streamlining operations. Built-in customer support and user management modules allow for seamless assistance, while the native referral system fosters user engagement and growth. Along with the full admin suite for comprehensive analysis and reporting, businesses are fully empowered with unparalleled capabilities and insights.
CONTINUED… Read this and more news for Scope AI at:  https://usanewsgroup.com/2024/04/26/the-currency-of-tomorrow-why-investing-in-cutting-edge-ai-recognition-tech-could-mean-big-money/
In other industry developments and happenings in the market this week include:
Meta Platforms, Inc. (NASDAQ: META), the parent company of Facebook, Instagram, and WhatsApp, recently teamed up with the Georgia Institute of Technology to create a massive open dataset to advance AI solutions for carbon capture, a technology with promising potential to address global climate concerns. As per the collaboration, Georgia Tech and Meta say their massive database could potentially make it easier and faster to design and implement new direct air capture technologies.
“The open-source database enabled the team to train an AI model that is orders of magnitude faster than existing chemistry simulations,” said Georgia Tech in a press release. “The project, named OpenDAC, could accelerate climate solutions the planet desperately needs.”
Researchers at Meta’s Fundamental AI Research (FAIR) team were already looking for ways to harness their machine-learning prowess to address climate concerns. They ultimately landed on direct air capture as what they believed to be a promising technology, and immediately reached out to Georgia Tech. FAIR’s lead authors generated the database by running quantum chemistry computations on inputs provided by Georgia Tech’s team, using about 400 million CPU hours along the way, and surpassing several hundreds of times more computing than the average academic computing lab can do in a year.
Amazon.com, Inc. (NASDAQ: AMZN) through its global Amazon Web Services (AWS) cloud system subsidiary recently rolled out its new AI system called Q, which it has dubbed as “the most capable generative artificial intelligence (AI)-powered assistant for accelerating software development and leveraging companies’ internal data.”
As well, Amazon also recently launched its Custom Model Import for Bedrock tool, which CEO Andy Jassy called a “sneak big launch as it satisfies a customer request we’ve heard frequently and that nobody has yet met.” The tool allows customers to import custom models they’ve built in Amazon SageMaker into tits Amazon Bedrock platform. Doing so lets enterprises utilize AI investments they’ve already made, while also leveraging Bedrock’s capabilities to scale their models and applications.
“Customers are excited about this, and as more companies find they’re employing a mix of custom-built models along with leveraging existing LLMs,” said Jassey. “The prospect of these two linchpin services in SageMaker and Bedrock working well together is quite appealing.”
Apple Inc. (NASDAQ: AAPL), whose iPhones currently hold the Top 4 (and 5 of the Top 10) best-selling smartphone models by sales, recently reported an all-time revenue record in sales in its most recent financial results. While being seen as potentially late to the game on AI, several reports in recent weeks has suggested that Apple is not only talking to OpenAI and/or Google about powering some of its AI features, it’s also been reportedly spending “millions of dollars a day” training its own AI model, called Ajax.
Now industry experts are saying the iPhone is about to become an “AI phone”, in anticipation of Apple’s upcoming iOS 18. A key anticipated feature of iOS 18 is Apple’s own large language model (LLM), similar to the technology behind AI chatbots like ChatGPT. It’s widely speculated that this Apple-developed LLM will be integrated with Siri, enhancing the capabilities of the iPhone’s digital assistant. As indicated by Bloomberg in late April, it’s suggested that Apple’s  LLM will be entirely on-device, meaning the tech will be powered inside by the iPhone’s processor, rather than in the cloud—which may be a bit less powerful and knowledgeable, but with far quicker response times.
C3.ai, Inc. (NYSE: AI), an Enterprise AI application software company, is actively working to enhance the petroleum industry in Houston, through a cooperative effort that allows oil and gas companies to share AI technology and applications with each other. This effort is meant to curb companies from withholding information from competitors, with the goal of collaboration instead.
“We’re building the applications that are, you know, monitoring every device on every offshore oil rig in real time so that they can see with 18 hours in advance before something fails and just shut it down,” said Tom Siebel, CEO of C3.ai. Siebel has explained that AI is at work in oil and gas, diagnosing issues and assisting with maintenance, giving the example of a giant like Shell uses AI to track their half a million valves around the world.
“They can see what’s going on,” said Siebel. “They can predict when a valve is going to be stuck open or closed before it happens, and if one of these valves gets stuck open or closed, things go real bad, real fast, right? And so, they’ve decided to make these applications available to Aramco, Eni, Chevron, Phillips.”
A recent report from Research and Markets predicted that the global AI in oil and gas market is expected to surge to an impressive $5.96 billion by 2028, growing at a CAGR of 13.3%.
Article Source: https://usanewsgroup.com/2024/04/26/the-currency-of-tomorrow-why-investing-in-cutting-edge-ai-recognition-tech-could-mean-big-money/
 CONTACT:USA NEWS [email protected](604) 265-2873
DISCLAIMER: Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. USA News Group is a wholly-owned subsidiary of Market IQ Media Group, Inc. (“MIQ”). MIQ has been paid a fee for Scope AI Corp. advertising and digital media from the company directly. There may be 3rd parties who may have shares Scope AI Corp., and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of MIQ own shares of Scope AI Corp. which were purchased as a part of a private placement. MIQ reserves the right to buy and sell, and will buy and sell shares of Scope AI Corp. at any time thereafter without any further notice. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material disseminated by MIQ has been approved by the above mentioned company; this is a paid advertisement, and we own shares of the mentioned company that we will sell, and we also reserve the right to buy shares of the company in the open market, or through further private placements and/or investment vehicles. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.

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