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Carbon Capture, Utilization, and Storage Market to Reach US$8.04 Billion in 2030, Yet Growth Still Limited by High Costs and Long Lead Times

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NEW YORK, Sept. 4, 2024 /PRNewswire/ — Carbon Capture, Utilization, and Storage (CCUS) technologies involve the capture of carbon dioxide (CO2) from large emissions source points, typically industrial facilities, for later use, transportation, or storage. In recent research, global technology intelligence firm ABI Research forecasts that the CCUS market will increase from US$4.89 billion in 2024 to US$8.04 billion in 2030 at a Compound Annual Growth Rate (CAGR) of 8.7%. Growth in the market is expected to slow until 2026-2027 before accelerating as projects are completed and the number of new planned carbon capture projects increases.

“CCUS technologies are considered critical for achieving net-zero targets, having immense decarbonizing potential necessary for cutting hard-to-abate emissions from large industrial facilities. The CCUS market is being driven by a combination of rising global environmental concerns, regulatory initiatives for promoting sustainable industrial processes, and customer pressure to cut operational emissions,” explains Alex McQueen, Research Analyst at ABI Research.
North America holds the majority share of the CCUS market at US$2.47 million in 2024, with around 50% of current global operational capacity, and is expected to lead throughout the forecast period. The region has been pioneering CCUS with several large-scale projects in oil & gas facilities. Europe is expected to see the fastest growth between 2024 and 2030, with a CAGR of 35.2%, with the EU investing heavily through government initiatives like the Innovation Fund, which has granted US$1.5 billion toward CCUS demonstration projects.
From an industry perspective, most projects have been integrated into oil & gas and chemical facilities, with the expectation that use cases in the highly polluting steel and cement industries will increase as the technology develops. Global industrial leaders such as Shell, BP, Honeywell, and Air Liquide are investing heavily in CCUS technology, developing a range of capture technologies and supporting transport and storage capacity growth. Demand for the technology has led to an increasing number of dedicated companies providing carbon capture technology. These include Aker Carbon Capture, Climeworks, and Carbfix.
“Despite being a key technological component of the global decarbonization strategy, current levels of adoption are considerably short of what is required in the Net-Zero Scenario. The current penetration of CCUS is limited by the high costs of equipment and energy needed for capture and compression, as well as long lead times for implementation. For CCUS to play its expected pivotal role in the energy transition, significantly higher capacity will be needed to increase CO2 capture rates. Costs of CCUS infrastructure will decline as innovation and technological developments increase, but achieving this will require billions, if not trillions, of investment. The effectiveness of carbon capture as a decarbonization tool will depend on its development over the next decade,” concludes McQueen.
These findings are from ABI Research’s Carbon Capture, Utilization, and Storage market data report. This report is part of the company’s Sustainability for Industrial Markets research service, which includes research, data, and ABI Insights. Market Data spreadsheets comprise deep data, market share analysis, and highly segmented, service-specific forecasts to provide detailed insight into where opportunities lie.
About ABI Research
ABI Research is a global technology intelligence firm uniquely positioned at the intersection of technology solution providers and end-market companies. We serve as the bridge that seamlessly connects these two segments by providing exclusive research and expert guidance to drive successful technology implementations and deliver strategies proven to attract and retain customers.
ABI Research是一家全球性的技术情报公司,拥有得天独厚的优势,充当终端市场公司和技术解决方案提供商之间的桥梁,通过提供独家研究和专业性指导,推动成功的技术实施和提供经证明可吸引和留住客户的战略,无缝连接这两大主体。
For more information about ABI Research’s services, contact us at +1.516.624.2500 in the Americas, +44.203.326.0140 in Europe, +65.6592.0290 in Asia-Pacific, or visit www.abiresearch.com.
Contact Info:Global                                                             Deborah Petrara                                                           Tel: +1.516.624.2558                                                   [email protected] 
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World’s 1st Flashlight Experience Store Kicks Off in Las Vegas

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LAS VEGAS, Sept. 15, 2024 /PRNewswire/ — Olight, a brand committed to becoming a global leader in mid-to-high-end flashlights, opened the world’s first flashlight experience store at Fashion Show Las Vegas. On the same day, it hosted a major new product launch event and a fan festival for its loyal customers.

A Retail Revolution
The store adopts an advanced digital retail model that seamlessly integrates online and offline channels. Leveraging cloud computing, big data, IoT, and other cutting-edge technologies, Olight has created a unified system for warehousing, logistics, supply chain management, and retail. This enhances operational efficiency and allows consumers to order online and pick up in-store, offering a more convenient and efficient shopping experience.
“Olight has consistently focused on the U.S. market and achieved outstanding results online. We want our first experience store to not only showcase our products but also serve as a bridge between the online and offline, connecting our brand with our customers,” said Mavis Xiao, CMO of Olight.
New Product Launches
Olight unveiled five new products at the event: Arkfeld Ultra, Baton Turbo, Perun 3, Sphere, and the Arkfeld Pro (Paw Edition). The Arkfeld Ultra uses a new aluminum material, making it one of the toughest and most scratch-resistant flashlights in the world. Olight also used this material to create a special gift for each audience member.
With the release of the Arkfeld Pro (Paw Edition), Olight announced an animal charity project in 13 countries, dedicated to supporting animal welfare for at least two years. For every Arkfeld Pro (Paw Edition) sold, Olight will donate $5 to local animal charities. This initiative aims to raise funds for animal protection and increase social awareness and action.
O-Fan Day: Celebrating the Community
O-Fan Day was a fan festival where Olight expressed its appreciation to the O-Fans, whom Olight believes are the driving force behind the brand’s growth. Olight held a fan award ceremony to recognize fans who have made outstanding contributions to supporting and promoting the brand. Over 200 O-Fans attended the festival, celebrating with Olight’s management, R&D teams, and more.
The Olight Fall Event 2024 was the brand’s most important event of the year. As a brand dedicated to establishing itself as a global leader in flashlights, Olight is bold in breaking the mold. This Fall Event demonstrated Olight’s determination to redefine the flashlight industry through innovation and to promote the development of the entire industry.
About Olight: 
Olight is committed to becoming a global leader in mid-to-high-end flashlights and driving the industry forward. Its diverse product range caters to various scenarios, from everyday carry to outdoor adventures, and is available across Europe, the Americas, and beyond.
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Global AI Summit Calls for Global Action to Guarantee AI Innovation is for the “Good of Humanity”

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RIYADH, Saudi Arabia, Sept. 14, 2024 /PRNewswire/ — The Global AI Summit (GAIN) in Riyadh concluded on a high, after the summit welcomed more than 30,000 delegates from across the globe over three days. The live stream of the summit, organized by the Saudi Data and AI Authority (SDAIA), received 3.7m views.

Building on the success of previous editions, GAIN 2024 featured more than 450 speakers from 100 countries, participating in 150 sessions. It also witnessed over 25 launches and announcements, and facilitated the signing of over 80 agreements and Memoranda of Understanding (MoUs).
The summit has grown exponentially since its inception in 2020. Its growing prominence reflects the Kingdom of Saudi Arabia’s role in advancing AI capabilities as it positions itself as a global leader in this space.
The key output from the summit was the need for governments and policy makers to take global action to ensure that AI technology evolves for the good of humanity. Central to responsible evolution is an ethical framework and robust governance.
To support the advancement of AI ethics and governance, SDAIA announced the Riyadh Charter of Artificial Intelligence for the Islamic World in collaboration with the Islamic World Educational, Scientific, and Cultural Organization (ICESCO). This promotes ethical AI grounded in Islamic values and principles, as well as sustainable development through international cooperation.
SDAIA has played a pivotal role in forging key collaborations to strengthen local and regional AI solutions, signing MoUs with Microsoft Arabia to develop Arabic language models, IBM for a Center of Excellence in Generative AI technologies, and NVIDIA to scale AI infrastructure across the Kingdom.
The summit also marked several major milestones. Alongside the unveiling of ALLaM, the world’s most advanced Arabic Language Model, other diverse initiatives such as the Global AI Community, the THAKAI Platform, and guidelines for addressing deepfake technology.
Furthermore, the launch of the Generative AI Center of Excellence by the Digital Cooperation Organization (DCO), the agreement to open an International Center for AI Research and Ethics (ICAIRE) as a UNESCO Category 2 Center, further underscored the impact of GAIN 2024.
The summit itself provided the platform for companies from all over the world to showcase the latest AI technologies and innovations, including AI generated avatars, AI generated artwork, and even Robotic bar staff serving beverages.
The summit closed with an inspirational speech from the Director of Saudi Arabia’s National Information Center, His Excellency Dr. Esam Alwagait, in which he thanked participants:
“Your candid perspectives have not only inspired us with the vision of what lies ahead, but have also grounded us in the realities we must face. Together, we have not only imagined the future of AI, but have also made it real by addressing the challenges and identifying the enablers needed to truly unlock its potential.”
He added:
“It has been incredibly inspiring to see the world come together here in Riyadh, united by momentum to make AI work for everyone. The commitment to collaborative action has been evident throughout the summit.” 
The success of GAIN 2024 ensures that the Kingdom’s AI infrastructure will be significantly strengthened and has cemented Saudi Arabia position at the center of global AI.
[email protected]
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Akuvox S567G Smart Indoor Monitor Has Received Google Mobile Service Certification

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XIAMEN, China, Sept. 13, 2024 /PRNewswire/ — Akuvox has announced its S567G, an indoor monitor powered by Android™, to have received Google GMS certification. This certification ensures full support for Google Services, allowing users to download and update apps directly from the Google Play Store, including smart home control apps. It also enhances system security, protecting against malware and unauthorized access.

GMS certification involves comprehensive testing and approval by Google or a designated 3PL lab, validating security and compatibility to ensure seamless integration within the Android ecosystem. Receiving GMS certification underscores Akuvox’s leadership in the smart intercom industry. Building on its legacy as the pioneer of Android smart intercoms, Akuvox continues to elevate its Android systems with Google’s rigorous certification, offering clients flexible and sophisticated smart intercom solutions. 
The S567G’s GMS certification ensures flawless operation with key Google apps like Chrome, Gmail, YouTube, Maps, and the Play Store. Edward Shi, Product Manager of the S567G, notes, “The positive feedback we’ve received from clients, even during testing, confirms that this device is transforming daily life. It’s more than just an intercom — it’s a versatile tool, even capable of functioning as a small TV. Our team has worked tirelessly to meet the highest standards, and I’m excited to see how it enhances smart living for our users.”
The S567G’s features extend beyond intercom functionality. With four HD speakers and a 1280 x 800 IPS LCD screen, it offers an exceptional audio-visual experience, redefining the concept of an indoor monitor. Whether for entertainment or smart home control, the S567G stands out as a versatile wall-mounted tablet, bringing innovation to every interaction.
About Akuvox
Akuvox is a global leading provider of smart intercom and smart home products and solutions. It is committed to unleashing the power of technology to improve people’s lives with better communication, greater security, and more convenience. Encompassing artificial intelligence, SIP, Android, cloud, security, and other advanced technologies, Akuvox continuously drives breakthrough changes in the industry and creatively delivers an unrivaled portfolio of smart intercom and smart home products and solutions. It has been deployed and used daily in more than 110 countries and regions, meeting customer needs in various vertical markets that range from residential to commercial, from healthcare to public safety.
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