Ideanomics Inc. (Nasdaq: IDEX), a global technology company based in New York City, NY, took the wraps off its plans to transform the former UConn West Hartford campus into its global headquarters for technology and innovation.
“Nearly one year ago, I expressed our hope to call West Hartford our home,” said Ideanomics Chair, Dr. Bruno Wu, at a news conference held at the neighboring University of Saint Joseph. “Today, I am pleased to be able to share with you the reality beyond the vision”.
“Starting today, we take our largest step from blueprint to reality. Here in Connecticut, the front yard of the insurance and financial centers that call Connecticut and the Northeast their home,” Dr. Wu said.
“Fintech Village will be a unique and special project, the likes of which Connecticut has not seen. I thank former Governor Malloy for his support and Governor Lamont for being such a great partner and helping to make this day happen.”
“We have spent the past 10 months with our partners to design a specialized workplace that will stimulate both innovation and collaboration, and be an open campus with features and benefits that West Hartford residents spoke of in their town-wide Community Visioning Process last year,” said Alf Poor, Ideanomics CEO and President of Fintech Village.
Fintech Village will be a walkable campus accessible to the community and designed to fit organically into the natural beauty and scale of the campus’ 58-acre landscape, with:
- Public plazas, open green spaces and recreational features
- Boardwalks and trails through the restored natural habitat
- Environmentally friendly and energy-efficient buildings
- Traffic-calming measures on Trout Brook Drive
- Small shops and places to eat
- Enhanced parking for the Little League and Miracle League sports fields
- A community center and an art gallery.
Neighborhood and community outreach begins
Poor stated that Ideanomics had begun its activities to engage, inform and solicit input from its West Hartfordneighbors and key community organizations.
“We wanted those living closest to campus to be among the first to hear about our plans through our neighborhood outreach program, which will soon spread to the West Hartford community as a whole,” Poor said, adding that the company will post and refresh information online at www.fintechvillage.us.
He said the company would also use, mail, social media, and traditional media outlets to provide updates on the project and inform residents throughout the public permitting process and project construction. Company representatives went door-to-door in a 500-foot zone around the campus, and will soon place information and descriptive imagery at the West Hartford Town Hall. It has offered to do the same at the Noah Webster Library and the Bishops Corner Branch Library.
Next steps: Environmental cleanup and local zoning and permitting process to begin
Poor said that Ideanomics was preparing to begin the environmental cleanup on site and the local zoning and permitting process with the town of West Hartford.
- Ideanomics has commenced the cleanup of the asbestos and polychlorinated biphenyls (PCBs) that were identified on site prior to its sale by UConn. The presence of these materials is relatively common for the type and age of the buildings currently on campus, and a licensed environmental contractor will contain, remove and safely dispose of all contamination.
- Ideanomics has filed asbestos abatement notifications with the Connecticut Department of Health. The company’s contractor has begun preparing for the asbestos abatement, which is scheduled to begin this week, and will last for approximately 3 months.
- The company is waiting for the U.S. Environmental Protection Agency (EPA) to approve its proposed plan to remove and dispose of the PCB-contaminated soils. This will hopefully come within the late summer/early fall.
Ideanomics is also poised to begin the zoning and permitting process with the town of West Hartford.
“We will work collaboratively with town planning officials to prepare site plans and permit applications for their review. The process to secure the approvals for Fintech Village will be public, thorough and deliberative—and the town will set the manner and timeline of that process,” Poor said.
The next step will be to seek local zoning approval to create a “Technology Village District” zone—updating the town’s current “Business Office Laboratory” zone.
After the zoning rules are updated, Ideanomics will then submit all the required permit applications necessary to develop and operate the campus, following all the public procedures established by the town of West Hartford.
“This innovation hub will be a center of excellence and collaboration for cutting-edge solutions with applications in artificial intelligence, robotics, clean tech, med tech, accounting, insurance, financial services, transportation and more,” said Dr. Wu.
“We believe it will be a positive cultural, ecological and community asset to our neighbors in West Hartford, and I am so proud to share these plans today.”
Invitation to the Media – Elected Officials and Stars Lend a Hand at Christmas Harvest
Saturday, December 7, over 200 people will be at work at Moisson Montréal to make the last 5000 Holidays Baskets. This day is a highlight for Canada’s largest food bank.
Several political and artistic personalities will join our faithful volunteers to lend a hand. We will welcome Chantal Rouleau, Minister Responsible for Transport and Minister responsible for the Greater Montréal Area, as well as Montreal Mayor Valérie Plante and several provincial and federal MPPs.
Moisson Montreal spokespersons Élise Guilbault and Justin Kingsley will also be present along with several artists, Debbie Lynch-White, Dany Turcotte, Marie-Chantal Perron, Christian Begin and Josée Deschênes.
The comedian Stéphane Fallu, as well as the writers and collaborators on the show Plus on est de fous, plus on lit! at Radio-Canada, Sarah Berthiaume and Alain Farah, will be the hosts of this day.
20,000 baskets valued at $ 50 will have been assembled and distributed to organizations during the month of December, worth $ 1 million.
Close to 1,500 e-tailers join Asian E-tailing Summit
The third Asian E-tailing Summit, organised by the Hong Kong Trade Development Council (HKTDC), concluded yesterday with close to 1,500 e-tailers and business professionals from related sectors in attendance. The event brought together myriad business leaders, offering a one-stop platform for participants to focus on e-commerce prospects in the region and explore the latest industry trends.
The summit featured two plenary sessions along with multiple breakout sessions and workshops. With contributions from more than 60 renowned guests and speakers, the discussions covered successful e-tailing developments and solutions in Hong Kong, Mainland China and across Asia with the aim of creating business opportunities for participants.
As online shopping continues to mature and consumer preferences shift further away from bricks-and-mortar retailing, competition in the market is becoming increasingly fierce. With the theme “The Internet of Things’ Expanding Influence in Online Retailing”, the first plenary session examined how the Internet of Things (IoT) can assist e-tailers to better manage supply chains, process data more efficiently and create unique customer experiences, helping them to stay ahead of the competition.
Coexisting opportunities and challenges in e-tailing
Speaking at the plenary session, TJ Wu, Director of Centre of Excellence, SAP Customer Experience Greater China, said he regards IoT as an enabling tool for e-tailing that will help to create more opportunities for customer acquisition and assist in optimising the customer experience. He said he foresees the emergence of a new business model with the development of IoT. “Today, retailers still charge piece by piece, and ‘one-product, one-price’ is going to continue for some time. However, in the not-distant future, there will be a new business model: retailers will charge by subscription like Netflix and Amazon, charging by usage or even by volume,” he added.
Joseph Lee, Executive Vice President of Sales – APAC, Mirakl Inc, took an example of his previous project with an airport shopping mall in Singapore to explain the application of IoT in product delivery to customers’ homes or hotel rooms. As Mr Lee stated, IoT is already having a significant impact across the supply chain. He said that knowing how to analyse and use the massive amount of data brought about by the advent of IoT is essential and the role of data scientists will become more important.
IoT has brought tremendous new opportunities as well as challenges to the e-tailing sector. Mike Shapaker, Chief Marketing Officer, ChannelAdvisor, pointed out that the implementation of IoT can sometimes lead to consumer privacy concerns. Emphasising the diversity of regulations in different regions and countries, he reminded people in the industry to pay close attention to regulations and comply with them strictly. Regarding the success of IoT, Mr Shapaker said true success comes “when we do not talk about it anymore”.
Tapping huge potential in the Asian market
With the pioneering Association of Southeast Asian Nations (ASEAN) e-commerce agreement now in place, a favourable business environment is flourishing in the region and the push is now on to deliver economic growth through cross-border e-commerce. The second plenary session at the summit assessed how a thriving cross-border e-commerce market will be shaped by Southeast Asia’s increasingly affluent middle class.
Terry Iu, Head of Digital Natives, Facebook, said the market for Facebook, Instagram and Facebook Messenger is growing very rapidly across Asia Pacific, with great potential and huge opportunity in Southeast Asia in particular thanks to the region’s dynamic landscape. Given the fact that Asia is leading digital transformation, Mr Iu considered artificial intelligence (AI) as the backbone of everything that will happen in the future. He believed it is necessary for e-tailers to have both “information power” and “implication power”. “We not only know who the users are but can also predict what users like,” said Mr Iu.
Michio Takahashi, Vice General Manager, Cross Border Trading Business Department, Rakuten, Inc, agreed that technology should be the key driver for innovation, emphasising that the implementation of innovation needs to be the industry’s top priority. He shared Rakuten’s two factors for the implementation of successful cross-border retailing, namely a close partnership with local platforms and proper logistics solutions. For example, his company’s partner in the mainland is JD.com, which has inventories in numerous export destinations to ensure products can be shipped to customers swiftly.
The breakout sessions and workshops at the summit were welcomed by the participants, who appreciated the opportunity to interact. One question from the audience involved concerns about the price differences across different sales channels. Daphne Lee, E-commerce Director, PANDORA Jewelry Asia-Pacific Limited, said that PANDORA product prices may differ in different countries and regions. For example, given factors such as tax rates, product prices in Australia tend to be lower than in the mainland, whereas the official retail and e-commerce prices stay the same. She said that PANDORA aims to enable customers to embrace online shopping by creating exclusive online products. “The basket size of online shopping is usually higher than offline due to the free delivery threshold,” she added.
Nicholas Kontopoulos, Head of Adobe DX Commercial APAC Marketing, Adobe, suggested that retailers need to ensure they have quality content on their websites since customers will do a lot of research online before purchasing, including browsing the brand’s official website. As such, he said that physical stores are becoming more like “showrooms” where customers would go to interact physically with the products they wish to buy. For this reason, he said it was necessary to implement omni-channels that combine online and offline retailing.
Focusing on customer demands
Industry breakout discussions on the second day of the summit focused on two key sectors – fashion and toys. “Walk Fashion’s Online Runway” and “Omnichannel Sales Come to Toyland”, allowed participants to grasp the latest e-commerce business opportunities in these specific industries.
Toshio Yamada, CEO & Founder, LIFESTYLE ACCENT INC, said that one of the company’s strategies is “making clothes together and making growth together”. The brand’s accessibility on almost all social media platforms encourages customer communication and interaction, which enables the company to produce clothes that align with the requirements of customers. He gave the example of the brand creating a special mosquito-repellent fabric for clothes, specifically at the request of customers.
Diane Yoon, Vice President, CarrieSoft, introduced one of the major trends of the toy market in South Korea, saying that the current market is growing because purchases by adults are getting bigger and toys are no longer just for children. In relation to promotional strategies, she said the company has produced animations featuring its cartoon characters for its own TV channels with the aim of engaging children and their parents at the same time.
Five technology-focused events create synergy
The HKTDC is holding a total five events at the Hong Kong Convention and Exhibition Centre this week. In addition to the Asian E-tailing Summit (4-5 December), the HKDTC SmartBiz Expo (4-6 December), HKTDC Hong Kong International Franchising Show (4-6 December), Business of IP Asia Forum (5-6 December) and DesignInspire (5-7 December) are running concurrently. They aim to help SMEs cope with the opportunities and challenges brought by innovative technologies and market changes, as well as driving business-development momentum.
Photo download: https://bit.ly/2PgP28V
Asian E-tailing Summit 2019.JPG: The third Asian E-tailing Summit, organised by the Hong Kong Trade Development Council (HKTDC), concluded yesterday with close to 1,500 e-tailers and business professionals from related sectors in attendance. The event offered a one-stop platform for participants to focus on e-commerce prospects in the region and explore the latest industry trends
Plenary Session 1 The Internet of Things’Expanding Influence in Online Retailing.JPG: With the theme “The Internet of Things’ Expanding Influence in Online Retailing”, the first plenary session of the Asian E-tailing Summit examined how the Internet of Things (IoT) can assist e-tailers to stay ahead of the competition. Speakers included (from second left to right) Mike Shapaker, Chief Marketing Officer, ChannelAdvisor; Khalid AlThawadi, CEO, Digital Wave; Joseph Lee, Executive Vice President of Sales − APAC, Mirakl Inc; TJ Wu, Director of Centre of Excellence, SAP Customer Experience, Greater China; and Matt Warren, Founder and CEO, Veeqo. The session was chaired by Abhineet Kaul, Senior Director, Public Sector & Government, Asia-Pacific, Frost & Sullivan (left)
Michio Takahashi, Rakuten (left); and Desey Muharlina Bungsu, PT Global Digital Niaga.JPG; Terry Iu, Facebook.JPG: The second plenary session of the Asian E-tailing Summit, “How Cross-border E-commerce Market Creates Growth Opportunities in Asia”, assessed how a thriving common online market will be shaped by Southeast Asia’s increasingly affluent middle class with the pioneering Association of Southeast Asian Nations (ASEAN) e-commerce agreement now in place. Speakers included Michio Takahashi, Vice General Manager, Cross Border Trading Business Department, Rakuten, Inc and Desey Muharlina Bungsu, Vice President, Fashion, PT Global Digital Niaga (Blibli.com) (top); and Terry Iu, Head of Digital Natives, Facebook (above)
Nicholas Kontopoulos, Adobe.JPG: Nicholas Kontopoulos, Head of Adobe DX Commercial APAC Marketing, Adobe
Toshio Yamada, LIFESTYLE ACCENT.JPG: Toshio Yamada, CEO & Founder, LIFESTYLE ACCENT INC
Diane Yoon, CarrieSoft.JPG: Diane Yoon, Vice President, CarrieSoft
SOURCE Hong Kong Trade Development Council (HKTDC)
Virtual Reality in Manufacturing Industry to Rise at a Staggering 39.2% CAGR; Increasing Number of Product Launches to Provide Impetus to Growth, says Fortune Business Insights
The global Virtual Reality in Manufacturing Industry will derive growth from recent product advances. According to a report published by Fortune Business Insights, titled “Virtual Reality in Manufacturing Industry Size, Share & Industry Analysis, By Component (Hardware, Software, Content), By Application (Product Design and Development, Safety and Training, Maintenance and Repair, and Communication & Collaboration), and Regional Forecast, 2019-2026,” the market size was was USD 924.7 million in 2018 and is projected to reach USD 14,887.0 million by 2026, exhibiting a CAGR of 39.2% during the forecast period.
A manufacturing process involves everything from design, prototype, and developing the final product. In such circumstances, there are several possibilities of error. For any manufacturing business, the end product should not possess any defects or errors. As a result, there is a need for incorporating concepts that will bode well in initial stages. Automated concepts such as artificial intelligence and the internet of things (IoT) have been a hit among manufacturers across the world. The advent of real-time concepts such as virtual and augmented reality have opened the doors for several possibilities. Virtual reality is one such concept that has helped overcome several downfalls that were initially present in the manufacturing industry. The use of virtual reality in manufacturing performing repetitive tasks that initially required continuous manual labour, has stood out among all. The demand for virtual reality (VR)-integrated concepts has risen among major business across the world. The increasing demand for this concept, coupled with the high precision and accuracy, will have a positive impact on the Virtual Reality in Manufacturing Industry in the coming years.
To gain more insights into the market with detailed table of content and figures, click here:
The report focuses on several aspects of the market, with primary focus on aspects such as leading products, major companies, and ongoing trends. It highlights products that have witnessed the highest demand in recent years and their subsequent impact on the market. Additionally, the report encompasses several factors that have constituted an increase in the Virtual Reality in Manufacturing Industry size in recent years.
Increasing Number of Product Launches to Aid Growth
Among all factors that have contributed to the growth of the market, the increasing number of product launches have had a comparatively high impact than the others. In May 2015, Eon Reality Inc. announced the launch of a new product under its VR in manufacturing portfolio. The Eon World Builder system allows design and development of a system, as per the requirement of the user. The product is integrated with mobile OS platforms such as android and IOS and is included under the Experience VR EON Library. The report discusses the impact of this product on the company and summarizes how it has influenced the market on a global scale.
North America to Emerge Dominant; Established IT Infrastructure to Provide Impetus to Growth
The report segments the market on the basis of regional demographics into North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among these regions, the market in North America is projected to emerge dominant. The presence of a well-established IT infrastructure has established the platform for early adoption of latest technologies. As of 2018, the market in North America was worth USD 359.5 million. Besides North America, Asia Pacific will witness considerable growth, driven by growing incorporation of VR-integrated technologies in several countries across this region.
List of the leading companies that are operating in the Virtual Reality in Manufacturing Industry are:
- Unity Technologies
- HTC Corporation
- Facebook Technologies, LLC.
- EON Reality, Inc.
- Magic Leap, Inc.
- NextVR Inc.
- NVIDIA Corporation
- Groove Jones LLC
Key Industry Developments:
November 2016: HTC and Autodesk announced a collaboration, with a view to creating an integrated system for designers to create and model. The system will work on a cloud integrated engine, thereby accounting for higher efficiency.
Have Any Query? Ask Our Experts: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/virtual-reality-vr-in-manufacturing-industry-101714
Table of Content
- Definition, By Segment
- Research Approach
- Executive Summary
- Market Dynamics
- Drivers, Restraints and Opportunities
- Emerging Trends
- Key Insights
- Macro and Micro Economic Indicators
- Consolidated SWOT Analysis of Key Players
- Global Virtual Reality in Manufacturing Industry Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Size Estimates and Forecasts
- By Component (Value)
- By Application (Value)
- Product Design and Development
- Safety and Training
- Maintenance and Repair
- Communication and Collaboration
- By Geography (Value)
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
- By Component (Value)
(Have a Look at Reports Trending in Information & Technology Industry)
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Virtual Reality in Automotive Market Size, Share & Industry Analysis, By Component (Hardware, Software, Content), By Application (Designing and Prototyping, Training, Virtual Reality Showrooms, and Research and Development), and Regional Forecast, 2019-2026
Virtual Reality in Aerospace and Defense Market Size, Share & Industry Analysis, By Component (Hardware, Software, and Content), By Application (Training, Maintenance Assistance, Design and Manufacturing, Passengers Entertainment), and Regional Forecast, 2019-2026
Virtual Reality in Education Market Size, Share & Industry Analysis, By Component (Hardware, Software, Content), By Application (K-12, Higher Education, and Vocational Training), and Regional Forecast, 2019-2026
Virtual Reality in Gaming and Entertainment Market Size, Share & Industry Analysis, By Component (Hardware, Software, and Content), By Device (Mobile, Console/PC, and Standalone), and Regional Forecast, 2019-2026
Virtual Reality (VR) in Healthcare Market Size, Share & Industry Analysis, By Component (Hardware, Software, and Content), By Application (Pain Management, Education and Training, Surgery, Patient Care Management, Rehabilitation and Therapy Procedures and Post-Traumatic Stress Disorder (PTSD)), and Regional Forecast, 2019-2026
Internet of Things (IoT) in Manufacturing Market Size, Share & Industry Analysis, By Platform (Device Management, Application Management, Network Management), By Software & Services (Software Solution and Services), By Application (Predictive Maintenance, Asset Tracking and Management, Logistics and Supply Chain Management, Real-Time Workforce Tracking and Management, Emergency and Incident Management and Others) and Regional Forecast, 2019-2026
SOURCE Fortune Business Insights
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