Connect with us
Prague Gaming & TECH Summit 2024

Artificial Intelligence

Global Electric Motor Market Set to Cross $195.1 Billion Revenue by 2030, says P&S Intelligence

Published

on

 

The global electric motor market revenue stood at $105.5 billion in 2020, and it is predicted to rise to $195.1 billion by 2030, exhibiting a CAGR of 6.3% from 2020 to 2030.

The key growth drivers for the market are:

  1. Mushrooming Electric Vehicle Deployment: As per the International Energy Agency (IEA), from 2019 to 2020, the sales of electric cars surged from 2.1 million to around 3.24 million units. Furthermore, the share of electric vehicles (EVs) in global vehicle sales is expected to rise from nearly 3% in 2020 to 7% in 2023 and reach around 5.4 million units. This is fueling the requirement for electric motors as they are among the most-integral components of EVs
  2. Growing Need for Energy-Efficient Electric Motors: The ballooning requirement for reducing the power consumption in high-energy-consuming industries is predicted to drive the advance of the electric motor market in the coming years. These devices can account for nearly 70% of the total power consumption of a manufacturing facility. Thus, to reduce power consumption and operating expenditure, many industries are employing energy-efficient electric motors.

The implementation of partial or complete lockdowns in several countries, in order to mitigate the spread of the COVID-19 infection, has negatively impacted the progress of the electric motor market. The restrictions on the movement of goods and operations of factories brought down the sale of automobiles and machinery. Therefore, leading automakers, such as BMW AG, Tesla Inc., Daimler AG, Kia Motors Corp., and Nissan Motor Co., witnessed a massive slowdown in their operations due to the pandemic, which further affected the market.

Get the sample pages of this report at: https://www.psmarketresearch.com/market-analysis/electric-motor-market/report-sample

The electric motor market was dominated by the transportation category in the past, under the application segment. This was because of the large-scale deployment of EVs owing to the provision of government subsidies and the surging demand for eco-friendly automobiles.

In the coming years, the alternating current (AC) motor category is expected to register the highest CAGR in the electric motor market, within the type segment. This is credited to AC motors’ high energy efficiency and ability to operate at higher voltages, speed, and torque than other motors. Additionally, they are easier to maintain and need less wire. As a result, they are being increasingly used in various industrial applications and EVs.

Browse detailed report on Global Electric Motor Market Size and Growth Forecast to 2030

Geographically, the Asia-Pacific (APAC) region is predicted to be the fastest-growing region in the electric motor market in the coming years. This will be because of the presence of numerous manufacturing plants in emerging economies, such as IndiaChinaIndonesia, and Bangladesh. Furthermore, many major players are making huge investments in the untapped countries of the region, which is also propelling the advance of the APAC market.

The leading players operating in the global electric motor market are Nidec Corporation, Regal Beloit Corporation, ABB Ltd., Mitsubishi Electric Corporation, Wolong Holding Group Co. Ltd., Johnson Electric Holdings Limited, WEG Equipamentos Elétricos S.A., DENSO CORP., AMETEK Inc., Rockwell Automation Inc., Valeo S.A., BorgWarner Inc., Robert Bosch GmbH, and Siemens AG.

Browse Other Related Reports

Electric Motor Market in Asia-Pacific – The APAC electric motor market would exhibit the fastest growth in India in the coming years. This is credited to the presence of a flourishing manufacturing and construction industry in the country.

Stepper Motor Market Report – P&S Intelligence considers the burgeoning industrial production a key reason behind the growth of the stepper motor market size to $3.7 billion in 2030 from $2.5 billion in 2019, at a 3.4% CAGR between 2020 and 2030.

Artificial Intelligence

Safeguard Your Mobile Memories before World Backup Day on March 31 with Qubii Duo

Published

on

safeguard-your-mobile-memories-before-world-backup-day-on-march-31-with-qubii-duo

TAIPEI, March 19, 2024 /PRNewswire/ — March 31st serves as a critical reminder for digital citizens worldwide: World Backup Day. Industry advocates are calling on individuals to proactively secure their essential digital assets before April Fool’s Day, a time notoriously exploited by cybercriminals through malicious software attacks. Astonishingly, research indicates that one in three people have yet to perform a backup of their mobile device data. This oversight is often attributed to a reluctance to invest in cloud storage solutions or a simple lack of know-how regarding the backup process. The consequence? Potential irreversible loss of invaluable digital memories and information.

Enter Qubii Duo, the latest innovation in data backup solutions and recipient of the Good Design Award. The device boasts an “automatic” backup feature that activates whenever the user charges their mobile phone to seamlessly preserve your photos, videos, contacts, FB/IG content, and more. Each time you recharge your phone, it jumps into action, ensuring your memories are safely stored. It’s even smart enough to detect fresh content and avoid duplicate entries. Qubii Duo’s patented locking function ensures data security, preventing unauthorized access, and provides users with the option to scale storage capacity as needed. The solution stands out for its commitment to privacy, allowing for secure offline data backup without the recurring costs associated with cloud storage services. It supports both iOS and Android devices, including iPads and tablets, and facilitates effortless data transfer to computers via its plug-and-play feature, requiring no internet connection. This cross-platform compatibility ensures a seamless transition for users changing or upgrading their mobile devices, making Qubii Duo an indispensable tool in the digital era.
In the competitive tech landscape, the Qubii Duo has emerged as a remarkable success story, selling millions of units across the globe. Its seamless integration with Apple devices, courtesy of its MFi certification, along with a design focused on user experience, has resonated well with consumers. Maktar is celebrating this achievement by offering a special promotion for the Qubii Duo from March 18 to April 5. For those intrigued by its widespread acclaim, more information is available on the Qubii Duo promotion website.
About Maktar: A global startup brand specializing in the development and design of mobile phone peripherals.
Discover Maktar’s region-specific product selections:Maktar United Kingdom: https://r.maktar.com/UKMaktar USA: https://r.maktar.com/us331
CONTACT: Nancy, [email protected]
Photo – https://mma.prnewswire.com/media/2364027/Maktar.jpg

View original content:https://www.prnewswire.co.uk/news-releases/safeguard-your-mobile-memories-before-world-backup-day-on-march-31-with-qubii-duo-302092614.html

Continue Reading

Artificial Intelligence

Tetra Pharm Technologies introduces pain relieving drug in the United Kingdom

Published

on

tetra-pharm-technologies-introduces-pain-relieving-drug-in-the-united-kingdom

The Danish biopharmaceutical company, Tetra Pharm Technologies, is proud to announce the launch of its pain-relieving prescription drug, XATEPA®, in the United Kingdom.
COPENHAGEN, Denmark, March 19, 2024 /PRNewswire/ — Following last year’s successful launch of XATEPA® in Germany, the cannabinoid-based product will now become available to patients in the United Kingdom during Q2 2024.

XATEPA® is a carefully formulated drug designed to provide effective relief from chronic pain as well as discomfort arising from MS spasms and nausea. The innovative sublingual spray is devised as an enabling technology to provide optimal conditions for cannabinoid uptake and efficacy.
“We are thrilled to launch XATEPA® in the United Kingdom. We believe the product has the potential to make a significant impact on the lives of many patients. Our strategy is to continuously invest in building our pipeline of new drug candidates targeting the endocannabinoid system and related disease indications. The launch of XATEPA® across multiple markets allow us to scale-up long-term research and development efforts, which will always be our primary focus”, says Martin Rose, Chief Executive Officer, Tetra Pharm Technologies.
For the distribution of XATEPA® in the United Kingdom, Tetra Pharm Technologies has entered a strategic agreement with 4C LABS Ltd. who cooperate with a wide network of clinics, doctors, and patient organizations. The agreement ensures that patients in the United Kingdom and Channel Islands can get access to XATEPA® as all doctors, physicians and clinics can prescribe the product to their patients.
“4C LABS are excited to be the exclusive distributors in the United Kingdom for the suite of Tetra Pharm Technologies’ cannabinoid-based prescription drugs. Doctors and patients across the United Kingdom have been asking for drugs that offer an easy and consistent delivery method. This is exactly what XATEPA®’s novelty formulation and measured dose per spray offers”, says James Smith, Chief Revenue Officer, 4C LABS Ltd.
Tetra Pharm Technologies is planning to introduce XATEPA® in several additional European and overseas markets in 2024.
About Tetra Pharm Technologies ApS
Tetra Pharm Technologies is a Danish biopharmaceutical company established in 2018 with a vision to be a leader in research and development of pharmaceutical drugs for the treatment of diseases related to the endocannabinoid system. For more information, please visit www.tetrapharm.eu
For further informationJacob [email protected]+45 5197 6225
Photo – https://mma.prnewswire.com/media/2363543/Tetra_Pharm_Technologies_Pharmacy_Entrance.jpgLogo – https://mma.prnewswire.com/media/1988863/Tetra_Pharm_Technologies_Logo.jpg
 
 
 
 

View original content:https://www.prnewswire.co.uk/news-releases/tetra-pharm-technologies-introduces-pain-relieving-drug-in-the-united-kingdom-302090304.html

Continue Reading

Artificial Intelligence

Gcore AI-powered Speech Recognition Service Sets New Speed and Scalability Standard for Broadcasters, VOD and Content Owners

Published

on

gcore-ai-powered-speech-recognition-service-sets-new-speed-and-scalability-standard-for-broadcasters,-vod-and-content-owners

Powerful automated speech recognition service delivers cost-efficiency to content owners
LUXEMBOURG, March 19, 2024 /PRNewswire/ — Gcore, the global edge AI, cloud, network, and security solutions provider, has today announced the public availability of its powerful Gcore Artificial Intelligence Automated Speech Recognition (AI ASR). It seamlessly integrates into Gcore workflows enabling broadcasters, video on demand (VOD), live streaming, and enterprise content owners to reach new global audiences, significantly enhancing the accessibility of content for those speaking different languages or with hearing impairments.

Existing automated speech recognition (ASR) services can be slow, expensive and place a significant resource burden on content creators and owners. For broadcasters, enterprises or content owners with live news, sports events or investor relations information that must reach customers quickly, speed is essential. Traditional subtitle generation can take hours or even days if multiple languages are involved, and often results in inaccuracies.
The best ASR models, tested and in one place
Unlike other ASR services, Gcore AI ASR is a managed cloud service, supporting 100+ languages, that allows customers to focus on fast subtitle generation for their content, without the need for selecting and fine-tuning artificial intelligence (AI) models. The Gcore team rigorously assesses newly released and updated ASR models, ensuring the best option is available through the pre-configured service. The managed service team supports customers with model selection and fine-tuning them to meet specific needs.
Fast and cost-effective subtitles
Gcore AI ASR is fast and cost-effective, generating subtitles for a one-hour video in under ten minutes, with accuracy levels matching or exceeding those of humans and typically achieving a 4%–5% word error rate. Open-source ASR models for specific languages or subject domains can be selected to enhance accuracy based on the content to be subtitled. This customisation is particularly useful for industry-specific terminology, or content featuring multiple spoken languages.
Alexey Petrovskikh, Head of Streaming Platform at Gcore, comments: “Subtitles are critical to reaching global audiences with content. Gcore’s AI speech recognition service—AI ASR—gives broadcasters, content owners and enterprises a cost-effective and accurate way to reach global audiences with fresh, accessible content. It is another step in our commitment to the continuous innovation of our solutions and edge infrastructure.”
Gcore AI ASR is available now. Learn more at gcore.com/news/ai-asr-service
About Gcore  Gcore is the global edge AI, cloud, network, and security solutions provider. Headquartered in Luxembourg, with a staff of 600+ operating from ten offices worldwide, Gcore provides its solutions to global leaders in numerous industries. The company manages its own global IT infrastructure across six continents, with one of the best network performances in Europe, Africa, and LATAM, due to the average response time of 30 ms worldwide. Gcore’s network consists of 160+ points of presence around the world in reliable Tier IV and Tier III data centers, with a total capacity exceeding 110 Tbps. Learn more at gcore.com and follow them on LinkedIn, Twitter, and Facebook. 
Photo: https://mma.prnewswire.com/media/2365043/Gcore_AI_Powered_Speech_Recognition_Service_Infographic.jpgLogo: https://mma.prnewswire.com/media/2365207/GCORE_NEW_Logo.jpg
 

View original content:https://www.prnewswire.co.uk/news-releases/gcore-ai-powered-speech-recognition-service-sets-new-speed-and-scalability-standard-for-broadcasters-vod-and-content-owners-302091881.html

Continue Reading

Trending