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Industrial Floor Coating Market revenue to hit USD 17 Billion by 2035, says Research Nester

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New York, Aug. 09, 2023 (GLOBE NEWSWIRE) — The global industrial floor coating market is estimated to grow at a CAGR of ~7% from 2023 to 2035. The market is estimated to garner a revenue of nearly USD 17 billion by the end of 2035, up from a revenue of about USD 7 billion in the year 2022. Industrialization and commercial construction projects have been on the rise globally. The need for durable, protective, and aesthetically pleasing flooring solutions in industrial facilities, warehouses, factories, and commercial spaces drives the demand for industrial floor coatings. Rapid urbanization and infrastructure development lead to the construction of residential, commercial, and public infrastructure projects. These projects often require durable and attractive flooring solutions, driving the demand for industrial floor coatings. According to the United Nations, the global urban population is expected to reach 68% by 2050, driving the need for infrastructure development.

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The growth in urbanization and infrastructure development supports the expansion of the industrial floor coating market. This growth is attributed to the growing bearing industry. Industrial floors provide a durable surface for the warehouse to prevent accidents. Factors that are believed to be driving the growth of the industrial flooring market also include the increasing importance placed on the strength of the floor in buildings. Due to the low cost and easy maintenance, there is a growing demand for various products such as epoxy resin. Industrial floor coating withstands the rigors of constant traffic and offers resistance to corrosive liquids. There has also been a growing awareness of the benefits of flooring among end users, which is fueling the growth of the industry.

Industrial Floor Coating Market: Key Takeaways

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  • Market in Asia Pacific to propel highest growth
  • The manufacturing segment to garner the highest growth
  • Market in North America to grow at a highest rate

Increasing Growth of Construction Industries across the Globe to Boost Market Growth

There is increasing industrialization in the emerging countries, which is leading to an improvement in the industrial infrastructure. This is driving the growth of the industrial floor coatings market. The use of green and lightweight materials in green buildings has increased. In addition, the concrete flooring is designed with eco-friendly design, which increases the demand for eco-friendly construction projects.

The growth of the construction industry in the residential, commercial and industrial sectors increases the demand for industrial flooring. Urban land take growth will outpace population growth by up to 50%, adding 1.2 million km2 of newly built urban areas globally by 2030. In the automotive industry, large and heavy machines are used to transport various car parts. The end product also requires heavy equipment to move the vehicle off the production floor. Therefore, increasing vehicle production is expected to fuel the growth of the global industrial flooring market over the next years.

Industrial Floor Coating Market: Regional Overview

The global industrial floor coating market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.

Expanding industrialization and urbanization to Drive the Market Growth in Asia Pacific Region

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The industrial floor coating market in Asia Pacific region is estimated to garner the largest revenue by the end of 2035. The Asia Pacific region has been experiencing significant industrialization and urbanization, leading to the construction of new industrial and commercial facilities. According to the Asian Development Bank, the industrial sector’s share of GDP in Asia Pacific countries increased from 27.5% in 2000 to 33.4% in 2021. The need for durable and protective flooring solutions in these facilities drives the demand for industrial floor coatings.

The Asia Pacific region is witnessing substantial infrastructure development, including transportation systems, power plants, commercial buildings, and residential complexes. Industrial floor coatings are essential for these projects to provide longevity, aesthetics, and safety to the infrastructure, contributing to market growth. There is an increasing focus on workplace safety and hygiene in the Asia Pacific region, driven by regulations and a desire to maintain a healthy work environment. Occupational health and safety regulations are being implemented and enforced more strictly. Industrial floor coatings with slip resistance, chemical resistance, and easy-to-clean surfaces are in demand to meet these safety and hygiene requirements. Technological advancements and product innovations in the industrial floor coating industry drive market growth in the Asia Pacific region. Advanced coatings with improved properties such as durability, abrasion resistance, and fast curing times are gaining popularity. The introduction of eco-friendly and sustainable coatings, such as low VOC and water-based formulations, is also driving market growth.

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Growing construction activities to Propel the Growth in the North America Region

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The North America industrial floor coating market is estimated to garner the highest CAGR by the end of 2035. The North America region has witnessed significant industrial and commercial construction activities, leading to a demand for industrial floor coatings. According to the U.S. Census Bureau, the total construction spending in the United States reached approximately USD 1.5 trillion in 2020. The need for durable, protective, and aesthetically pleasing flooring solutions in industrial facilities, warehouses, factories, and commercial spaces drives the demand for industrial floor coatings.

North America has a strong focus on workplace safety and stringent regulations governing occupational health and safety. Occupational Safety and Health Administration (OSHA) regulations and other industry-specific safety standards emphasize the use of appropriate flooring systems to ensure worker safety. Industrial floor coatings, known for their slip resistance, chemical resistance, and impact resistance, play a crucial role in meeting these safety requirements. The renovation and refurbishment of existing industrial and commercial spaces also contribute to the growth of the industrial floor coating market in North America. Companies invest in upgrading their facilities to improve productivity, safety, and aesthetics. Industrial floor coating market provide a cost-effective solution for transforming and improving the performance of existing floors.

Industrial Floor Coating, Segmentation by End Use Industry

  • Aviation & Transport
  • Manufacturing
  • Warehousing
  • Food Processing

Amongst these segments, the manufacturing segment is anticipated to hold the largest share over the forecast period. Economic growth and industrialization play a significant role in driving the manufacturing sector. According to the World Bank, global GDP grew by 2.9% in 2019, with the manufacturing sector contributing to a significant portion of this growth. Industrialization efforts in emerging economies, such as China, India, and Southeast Asian countries, have propelled the manufacturing sector’s growth. Technological advancements, such as automation, robotics, and artificial intelligence, have revolutionized the manufacturing industry. Automation enables increased efficiency, productivity, and precision in manufacturing processes.

 Globalization has opened up new markets and created opportunities for manufacturers to expand their operations internationally. Supply chain integration and the development of global production networks have facilitated the efficient movement of goods and services across borders. The manufacturing sector is driven by demand from various end-use industries, such as automotive, electronics, aerospace, consumer goods, and pharmaceuticals. Rising consumer expectations, evolving lifestyles, and technological advancements drive demand for products, which, in turn, stimulates manufacturing activities.

Industrial Floor Coating, Segmentation by Product

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  • Epoxy
  • Polyurethane
  • Acrylic

Amongst these three segments, the epoxy segment is anticipated to hold a significant share over the forecast period. Epoxy resins find extensive applications across various end-use industries, including construction, automotive, aerospace, electronics, and industrial manufacturing. The demand from these industries for epoxy-based coatings, adhesives, and composites drives the growth of the epoxy segment. The construction and infrastructure sectors are major drivers of the epoxy segment. Epoxy coatings are widely used in construction for applications such as flooring, waterproofing, and corrosion protection.

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Technological advancements in epoxy resin formulations and applications have expanded the range of potential uses and improved the performance of epoxy-based products. Innovations in epoxy-based composites, coatings, and adhesives have enhanced their properties, including durability, chemical resistance, and versatility. These advancements have opened up new market opportunities and contributed to the growth of the epoxy segment. Governments around the world are investing in infrastructure development, including transportation, energy, and public facilities. Infrastructure projects often require durable and high-performance epoxy-based coatings and adhesives for applications such as bridge maintenance, road markings, and structural bonding.

Industrial Floor Coating, Segmentation by Component

  • One
  • Two
  • Three

Industrial Floor Coating, Segmentation by Flooring Material

  • Mortar
  • Terrazzo
  • Concrete

Few of the well-known market leaders in the global industrial floor coating market that are profiled by Research Nester are The Dow Chemical Company, 3M Company, Astellas Pharma Inc., PPG Industries, Inc., Akzo Nobel N.V., RPM International Inc., Axalta Coating Systems, LLC, A & I Coating Ltd, The Lubrizol Corporation, and other key market players.

Recent Development in the Coating Market

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  • BASF has started production of its first bio-based polyol, Sovermol, in Mangalore, India. This product meets the fast-growing need for environmentally friendly goods for use in New Energy Vehicles (NEVs), wind turbines, flooring and protective industrial coatings in the Asia-Pacific region.
  • Axalta Coating Systems introduced a new Paint Shop Management (PSM) system integrated with the Axalta New Generation Software (NGS) color control center system in Asia Pacific and Middle East and North Africa (MENA). The PSM module aims to help auto refinishers and body shops as an effective management tool in business performance and improvement.

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

How AIoT shapes the future of mobility: Hikvision at ITS World Congress 2024

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HANGZHOU, China, Sept. 27, 2024 /PRNewswire/ — Hikvision made a significant impact at the ITS World Congress in Dubai with its captivating theme, “Embrace AIoT for safer, smarter, and greener mobility.” Its booth became a hub of innovation, where visitors explored AIoT solutions that are reshaping the transportation landscape, sparking deep conversations on the future of urban mobility.

Road safety revolution: harnessing AIoT for secure transportation
Hikvision’s commitment to road safety was on full display at its booth through the impressive array of AIoT solutions designed to create secure and reliable traffic environments. The company’s technology provides 24/7 traffic monitoring, ensuring continuous oversight of motor vehicles, non-motorized vehicles, pedestrians and environmental factors. This comprehensive, real-time information collection enables traffic managers to prevent accidents and enhance road safety. Among the showcased products was the 20 MP IR ANPR Checkpoint Capture Unit, renowned for its high-definition capture capabilities, bolstering traffic safety measures.
A standout innovation was the integration of advanced radar and camera technologies, ensuring uninterrupted, comprehensive detection even in adverse weather conditions. The Radar-Video Fusion Incident Detection Cameras, featured prominently in the product experience area, enable early detection and warning of potential hazards. They are particularly effective in challenging situations such as curved roads, blind spots at intersections, and obstacles beyond visual range.
Attendees also engaged with onboard monitoring products on the simulated bus, including dome network cameras, which is designed to enhance passenger safety. Driving assistance products, such as the Driver Status Monitor (DSM), were demonstrated to mitigate unsafe driving behaviors and ensure safer journeys.
Urban mobility redefined: smart traffic innovations
In the realm of smarter mobility, Hikvision showcased its multidimensional sensing technology, which integrates visible light sensors, infrared sensors, radar, and sonar. This technology expands perception capabilities, significantly improving traffic management and situational awareness. The use of AI-powered comprehensive sensing elevates incident monitoring and violation detection to unprecedented levels of accuracy and efficiency.
A major attraction was the Radar-Video Fusion TandemVu PTZ Camera, which integrates millimeter-wave radar with high-resolution cameras for extensive traffic detection and data analysis. AI-based algorithms combine these two systems to enhance target information, detecting up to 16 types of incidents. This leads to the development of a large-scale fusion model that merges spatial physical data with image semantic information. The result is ultra-long-range perception, achieving over 95% accuracy in vehicle trajectory detection. This robust system improves traffic violation management and optimizes traffic flow, significantly enhancing road efficiency.
At the simulated bus station, visitors observed how AI-assisted people counting automated the collection of passenger flow statistics at peak stop hours and bus line frequency during busy periods. Paired with smart bus stop digital signage, the solution improves bus service quality, operational efficiency, passenger experience, and overall public transport effectiveness.
Sustainable transportation: leading the charge for greener cities
Hikvision’s commitment to sustainable urban mobility was evident through its innovative green wave technology and eco-friendly checkpoint solutions. Green wave technology efficiently manages traffic flow to reduce congestion and lower carbon emissions, aligning with global sustainability goals. Visitors were particularly impressed by a case study showcasing a green wave solution implemented in Zhoushan, China. Over a stretch of 21 kilometers and 34 intersections, this main road cut travel times by 50%.
The use of DarkFighterX technology in checkpoint cameras also received significant attention. This technology senses both visible and invisible light, resulting in more accurate and realistic images. It enhances traffic violation enforcement efficiency while minimizing the need for high ambient light levels, thus reducing light pollution. The 9M DarkfightX ANPR Checkpoint Camera exemplified this dedication to environmental stewardship.
Frank Zhang, President of Hikvision MEA, remarked, “Hikvision supports sustainable urban planning by empowering traffic departments to address congestion and transportation challenges.” He further emphasized, “Our system’s openness fosters a secure and reliable platform for developing smart and green cities. Additionally, our solar technology is extensively utilized in remote areas, while our smart street lighting solutions reduce energy consumption by 20-30%, promoting intelligent urban transportation and advancing global sustainability objectives.”
Hikvision’s presence at the ITS World Congress in Dubai underscored its leadership in integrating AIoT technologies to drive safer, smarter, and greener mobility solutions. The engaging presentations and advanced product demonstrations captured significant attention from industry partners and customers, reaffirming the company’s role as a pioneer in shaping the future of urban transportation. As the world moves towards more intelligent and sustainable transportation systems, Hikvision remains at the forefront, embracing AIoT to create a safer, smarter, and greener future for all.
To find out more about Hikvision’s advanced traffic and public transport solutions, please explore the Hikvision official website.
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Artificial Intelligence

Anti-Drone Market worth $7.05 billion by 2029 – Exclusive Report by MarketsandMarkets™

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DELRAY BEACH, Fla., Sept. 27, 2024 /PRNewswire/ — The global anti-drone market was valued at USD 2.16 billion in 2024 and is projected to reach USD 7.05 billion by 2029; it is expected to register a CAGR of 26.7% during the forecast period according to a new report by MarketsandMarkets™. Increasing government spending on counter-drone technologies, rising incidence of critical infrastructure security breaches by unauthorized drones, and surge in adoption of aerial remote sensing technologies to safeguard critical infrastructure are attributed to the demand for anti-drone.

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Browse in-depth TOC on “Anti-Drone Market” 178 – Tables61 – Figures253 – Pages
Anti-Drone Market Report Scope:
Report Coverage
Details
Market Revenue in 2024
$ 2.16 billion
Estimated Value by 2029
$ 7.05 billion
Growth Rate
Poised to grow at a CAGR of 26.7%
Market Size Available for
2020–2029
Forecast Period
2024–2029
Forecast Units
Value (USD Million/Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
By System Type, Application, Platform type, Vertical, and Region
Geographies Covered
North America, Europe, Asia Pacific, and Rest of World
Key Market Challenge
Vulnerability to hacking
Key Market Opportunities
Emphasis on improving unmanned aircraft systems technology
Key Market Drivers
Growing number of illicit activities
By System Type: Hybrid systems to account for the larger market share in the forecasted year.
The hybrid segment accounted for the largest share of the anti-drone market in 2029. The trends of integrating multiple anti-drone technologies are rising since they are most effective in detecting, tracking, and neutralizing drone threats. These systems merge electronic, kinetic, and lasers, providing a comprehensive defense solution against UAVs. Hybrid systems use electronic, kinetic, and laser-based countermeasures to offer optimum protection against drones. These systems are designed to detect, track, identify, categorize, and mitigate drones at operational wide ranges ranging from a few km up to tens of km.
By Platform: The ground-based segment accounted for the largest market share in the forecast year.
The ground-based segment will hold a major share of the anti-drone market in 2029. Many ground-based anti-drone systems use several electronic technologies, such as radar, IR sensors, acoustic systems, and RF & GNSS jammers. MESA radar solutions are used mostly for counter-UAS purposes, protecting critical infrastructure, military camps, and other security-sensitive sites from unauthorized drones. One such solution is EchoGuard, a ground-based airspace management solution that contains a software-defined 3D radar that can be specific to the site. This system can identify single or multiple off-chance drones, including swarms in unauthorized areas. They provide accurate and sustained airspace surveillance for the field of view (FOV) they are configured, and both human and AI-monitored visual checks. The system can be easily transported and integrated directly with the command-and-control centers or another identification sensor for portable use, and multiple units of the system can be combined to cover vast areas or lengths of borders. Major providers of ground-based counter-drone systems include companies like EchoDyne Corporation, DeTect, Meteksan Defense, and WhiteFox Defense. Acoustics-based Discovair G2 utilizes patented microphone arrays. With 128 interconnected microphone elements, the Discovair sensor units can establish azimuth and elevation to the target in real-time using advanced digital signal processing.
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By Region: Americas are expected to hold the largest share of the anti-drone market during the forecast period.
Americas is expected to capture the largest share in the anti-drone industry during the forecast period. The growth can be attributed to protecting crucial infrastructure in the region. Governments, particularly in the US, invest in anti-drone systems for military bases, borders, and critical infrastructure. For Instance, in April 2023, RTX secured a USD 237 million contract from the US Army to provide Ku-band Radio Frequency Sensors (KuRFS) and Coyote effectors. These systems are designed to detect and neutralize unmanned aircraft systems (UAS). The contract includes stationary and mobile systems and a specified quantity of effectors, all aimed at enhancing the Army’s operations within the US Central Command region.
Key Players-
The key companies offering anti-drone companies include RTX (US), Lockheed Martin Corporation (US), Leonardo S.p.A. (Italy), Thales (France), and IAI (Israel).
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Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting
Related Reports: 
Drone Sensor Market Size, Share, Industry Growth & Trends by Sensor Type, Platform (VTOL Type, Fixed Wing Type, Hybrid Type), Application (Navigation, Collision Detection & Avoidance, Data Acquisition, Motion Detection, Power Monitoring), End Users and Region – Global Forecast to 2029
Smart Agriculture Market Size, Share, Statistics and Industry Growth Analysis Report by Offering (Hardware, Software, Services), Agriculture Type, Farm Size (Large, Medium, Small), Application (Precision Farming, Livestock Monitoring) and Region (America, Europe, Asia Pacific, Row) – Global Forecast to 2028
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact: Mr. Rohan SalgarkarMarketsandMarkets™ INC. 1615 South Congress Ave.Suite 103, Delray Beach, FL 33445USA: +1-888-600-6441Email: [email protected] Our Web Site: https://www.marketsandmarkets.com/Research Insight: https://www.marketsandmarkets.com/ResearchInsight/anti-drone-market.aspContent Source: https://www.marketsandmarkets.com/PressReleases/anti-drone.asp
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Artificial Intelligence

CluePoints Launches Medical & Safety Review (MSR) Software to Revolutionize Clinical Data Review

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CluePoints furthers its commitment to delivering innovative solutions that enhance clinical trial efficiency with this latest addition to its enterprise software platform.
KING OF PRUSSIA, Pa., Sept. 27, 2024 /PRNewswire/ — CluePoints continues to transform clinical trial review and leverage its industry-leading software to enhance the interrogation, analysis and presentation of data with the launch of its latest application, Medical & Safety Review (MSR).

The tool simplifies and streamlines the medical analysis of study data through user-friendly dashboards, data manipulation and cleaning, query management and full transparency over the data history. This not only improves efficiency and communication in medical oversight, but also elevates patient safety, differentiating MSR as a smarter and unique solution.
Designed by, and for Medical and Safety Reviewers, MSR converts the manual analysis of patient outcomes, which can be prone to inefficiency and error, into an accurate, efficient process. MSR tackles time-consuming study preparation for specific visualizations by featuring a comprehensive standard visualization library as well as the ability to copy and reuse dashboards across different studies, enabling the identification of outlying values, change tracking, and improved communication for smarter clinical trials.
Other benefits of MSR include:
Enhanced medical review efficiency and reduced human errors via automated checksReduced time spent by clinical and data management teams in reviewing dataImproved collaboration with integrated review workflows across departmentsEnsured record quality and accountability with comprehensive change trackingDriving faster decision making with the proactive detection of trends and safety issuesEnsuring regulatory compliance with rule-based detection and user assignmentsAndy Cooper, Chief Executive Officer at CluePoints, commented, “We are thrilled to announce the launch of Medical & Safety Review to our growing product offerings. MSR is the latest application addition to the CluePoints platform, which includes products such as Risk-Based Quality Management (RBQM) and our Site Profile & Oversight Tool (SPOT). Together, they provide a comprehensive approach to clinical trial optimization, enhancing data integrity, ensuring regulatory compliance, and accelerating drug development. The creation of MSR ensures a more streamlined review process while prioritizing patient safety at every step and empowers medical teams to swiftly identify outliers, track data changes, and improve communication.”
To learn more about CluePoints’ award-winning solutions, please visit www.cluepoints.com
About CluePoints
CluePoints is the premier Risk-Based Quality Management (RBQM) and Data Quality Oversight Software provider. We are leveraging the potential of Artificial Intelligence using Advanced Statistics and Machine Learning to determine the quality, accuracy, and integrity of clinical trial data both during and after study conduct. Aligned with guidance from the FDA, EMA, and ICH E6 (R2), CluePoints is deployed to support central and on-site monitoring, medical review, quality risk management and to drive a holistic Risk-Based strategy in all trials. Coupled with thought leadership and consulting expertise to aid pre-study risk assessment, identification of risk controls and solution implementation, you now have everything you need to adhere with global regulatory guidance. The result is positive clinical development outcomes, increased operational efficiency, lower costs and reduced regulatory submission risk as part of the industry paradigm shift to RBQM.
 

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