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Dump Truck Market to value USD 30 billion by 2030, Says Global Market Insights Inc.

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The dump truck market is expected to surpass USD 30 billion by 2030, as reported in a research study by Global Market Insights Inc. The demand for dump trucks across the mining environment is expected to grow significantly. The need for equipment to support the transportation of extracted wastes and materials is contributing to the consistent increase in demand for dump trucks. Several mining companies are focused on deploying machines with low fuel consumption & emission to curb carbon amounts and reduce the pollution from mining activities.

The COVID-19 pandemic adversely impacted the dump truck market growth due to strict lockdown in several countries in 2020. Manufacturing plants were shut down, resulting in lower production rates. The impact of the COVID-19 pandemic has led construction & mining contractors to postpone their new equipment purchase decisions, thus hindering the construction equipment market growth in 2020.

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Rapid expansion of the building & construction industry is a major driver in the dump truck market. The growing demand for efficient and high-quality construction equipment is increasing to complete projects on time and reduce the harmful effects caused by carbon emissions. Electric-based operational capabilities in new dump trucks are important factors boosting demand from construction and contractor companies.

The government & private sectors are making huge investments in construction projects. The Brazilian government is spending heavily to improve the transportation infrastructure. For instance, in 2021, the Brazilian government announced that it will be investing approximately USD 30 million to develop its road & rail infrastructure. Such huge ongoing investments in the development of infrastructures will drive the regional dump truck market growth.

Companies operating in the region are also integrating advanced technologies into dump trucks to enhance operational efficiency. For instance, in August 2021, SANY Group launched a new hydrogen fuel heavy-duty construction truck. This hydrogen truck is an ideal solution to the looming global energy and environmental crisis. Through this strategy, the company aimed to launch eco-friendly construction trucks to reduce pollution.

Some major findings in the dump truck market report include:

  • Integration of advanced technologies, such as ADAS, smart battery, and telematics management system, into dump trucks. With the increasing competition in the mining and construction industries, the adoption of advanced machinery is expected to grow rapidly.
  • In North America, new product developments from regional enterprises and extensive construction projects are fueling the demand for dump trucks. The North America dump truck market is supported by the regional government authorities’ continuous funding to promote the adoption of electric trucks in the construction sector.
  • Articulated dump trucks are equipped with new technologies such as real-time productivity monitoring, payload meter, gaining traction, eco-mode, and pedestrian detection. The increasing adoption of autonomous driving systems in dump trucks to increase operational productivity is driving market growth.
  • Rigid trucks with a capacity of 251 – 300 metric tons are used in jobs that require increased payloads, faster travel speed, less round-trip travel times, less fuel usage, and reduced operating costs. These trucks are ideal for quarry, mining, and road-building applications.
  • Major market players in the social compaction equipment industry are Bell Trucks America, Inc., Caterpillar, Inc., CNH Industrial N.V., Deere & Company, Doosan Corporation, Hitachi Construction Machinery, Komatsu Ltd., Liebherr Group, Sany Group, Terex Trucks, Volvo Group, and XCMG Group.

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Partial chapters of report table of contents (TOC):

Chapter 2 Executive Summary

2.1  Dump trucks industry 360° synopsis, 2018 – 2030

2.1.1  Business trends

2.1.2  Regional trends

2.1.3  Type trends

2.1.4  End-use trends

Chapter 3 Dump Truck Industry Insights

3.1  Impact of the COVID-19 outbreak

3.2  Impact of the RussiaUkraine crisis on the dump truck market

3.3  Industry ecosystem analysis

3.4  Technology & innovation landscape

3.5  Regulatory landscape

3.6  Industry impact forces

3.6.1  Growth drivers

3.6.1.1  Increased funding activities for infrastructure development globally

3.6.1.2  Increased recycling activities and government initiatives in North America and Europe

3.6.1.3  Integration of new technologies into dump trucks

3.6.1.4  Rising urbanization in India and South Africa

3.6.1.5  Replacement of aging truck fleet in the MEA

3.6.1.6  Growing mining activities in Asia and Latin America

3.6.2  Industry pitfalls & challenges

3.6.2.1  High initial price and maintenance costs

3.6.2.2  Lack of trained operators

3.7  Investment Landscape

3.8  Growth potential

3.9  Porter’s analysis

3.10  PESTEL analysis

Artificial Intelligence

Cybersecurity veteran Simon Church Joins CyXcel as Chief Strategy Officer

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LONDON, May 9, 2024 /PRNewswire/ — CyXcel, a leading cybersecurity business with operations in the UK and North America, announces the appointment of Simon Church as Chief Strategy Officer. A 35-year veteran of the technology industry, Church brings a wealth of cyber expertise and commercial development to the role. Church’s appointment solidifies CyXcel as a pioneering force in combining security, regulatory, and legal expertise for established companies and those expanding into new markets, ensuring protection and recovery of their critical business assets.

As Chief Strategy Officer, Church will spearhead CyXcel’s strategic initiatives to drive innovation, foster partnerships, and accelerate growth opportunities. His appointment underscores CyXcel’s commitment to fortifying its strategic offering and enhancing its position as a leader at the nexus of risk analysis, response management and incident resolution. His vast experience in go-to-market strategies and M&A will be instrumental in driving CyXcel’s growth and expansion initiatives.
Church has held executive leadership positions at market-leading cybersecurity and technology companies such as Maxive Cyber Security (acquired by Thales), Optiv, Vodafone, NTT Security, Verisign, and NetIQ. His experience includes strategic roles  in identity management, networking, and managed services and he brings a strong track record of delivering commercial growth, including leading on commercial acquisitions. 
In addition to his role at CyXcel, Church serves as Chair of Xalient, a UK-headquartered converged cyber, identity, and networking managed services company. He is also a Board member and strategic advisor to Redshift, as well as a Board member at beqom. Furthermore, Church serves on the Advisory Board of Glasswall, a UK-based security technology company.
Ed Lewis, CyXcel Co-Founder and Managing Partner commented:
“Simon’s unparalleled expertise and proven track record will be invaluable as we continue to innovate and deliver pioneering solutions to our clients worldwide. With Simon’s strategic leadership, we are poised to achieve new heights in our mission to safeguard enterprises and navigate the complex geopolitical, regulatory and legal implications of ever-evolving cyber threats.”
Simon Church said:
“I’m thrilled to be joining such an experienced and ambitious team and the CyXcel offer is unlike any I’ve ever seen. CyXcel has already established itself as a trusted partner in empowering organisational awareness and responsiveness to the financial, existential, and strategic complexities of global cyber threats. I look forward to delivering rapid growth around the world by developing and executing initiatives that provide unparalleled protection and value to our clients.”
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IBM Introduces New Microsoft Copilot Capabilities to Fuel AI-Powered Business Transformation

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ARMONK, N.Y., May 9, 2024 /PRNewswire/ — IBM (NYSE: IBM) today announced the availability of IBM Copilot Runway, a new offering from IBM Consulting designed to help enterprises create, customize, deploy and manage copilots including Copilot for Microsoft 365. With the new offering, clients will be able to seamlessly integrate copilots’ generative AI into their organizations in order to enhance productivity and drive business success. IBM Consulting has also formed a dedicated practice of consultants with Microsoft copilot skills, credentials and expertise to guide clients on their AI transformation journey.

As part of the new offering, IBM will work with clients to build custom copilots that can be tailored to fit the needs of specific business scenarios and efficiently deployed to help reduce the time and effort often required for implementations. IBM will initially focus on helping clients across priority use cases, including customer and field service, employee experience, and procurement and finance – as well as specific industries, like financial services, retail and CPG, government, and supply chain. These use cases will include:
The Procurement and Finance Contract Copilot which assists specialists in extracting valuable insights from contracts.The Customer Service and Field Service Copilot which gives agents and technicians access to self-service options and a time-saving generative AI search.The Employee Experience Copilot which is designed to enhance employee engagement.                                                                            IBM and Microsoft already serve clients across a variety of industries with a range of AI solutions and services. In fact, IBM Consulting worked with Virgin Money to develop and launch Redi, a conversational virtual assistant that helps credit card customers in the Virgin Money credit card app. Redi, powered by Virgin Money’s suite of Microsoft Copilots, is a testament to the power of partnership.
“Our customers tell us how much they enjoy interacting with Redi in the Credit Card app,” said Adam Paice, Head of Digital Proposition, Virgin Money. “Our partnership with IBM has helped us to get the most out of Microsoft Copilot to find a balance between innovation and control.”  
IBM Consulting is also scaling its Microsoft copilot capabilities and capacity across its network of Global Innovation Centers on each continent. For example, these capabilities are being used to co-create solutions with clients at IBM Consulting’s new IBM-Microsoft Experience Zone in Bangalore, India – a first of its kind in our collaboration.
At the Experience Zone, clients from around the world and across industries are working together with IBM Consulting in various technology stations to co-ideate and co-create generative AI-powered solutions – leveraging Microsoft technologies, including Copilot. Later this year, IBM Consulting plans to open additional IBM-Microsoft Experience Zones in Romania, U.K. and U.S., where clients in these regions can explore the power of Copilot. In addition IBM and Microsoft hosted a second client-focused hackathon with 800 participants, including clients and experts to build solutions leveraging Microsoft copilot – with winners to be announced this quarter.
“As IBM and Microsoft strengthen our partnership, we’re poised to empower more clients with Microsoft Copilot, supercharging productivity and boosting creativity through the power of generative AI,” said John Granger, Senior Vice President, IBM Consulting. “Our dedicated IBM Consulting Microsoft practice, along with Copilot-focused Experience Zones around the world, help us meet clients where they are and bring them the right generative-AI-enabled solutions for their businesses.”
“Clients need the right partners and technology to scale AI responsibly across the enterprise,” said Dinis Couto, General Manager of Global Partner Solutions for Microsoft. “With IBM’s dedicated group of Microsoft Copilot experts, we’re confident we can help more clients unlock the full potential of generative AI for their businesses.”
IBM purchased Copilot for Microsoft 365 for its practitioners. To continue building on the partnership, IBM has also invested in growing its team of experts and capabilities through acquisitions, like Neudesic and Bluetab.
IBM Consulting practitioners work with a range of leading AI software technologies and multiple models from both IBM and its strategic partners like Microsoft. IBM data and AI consultants typically employ multiple models, each applied to a specific use case. Different models can be optimized for specific tasks, enhancing performance and efficiency.
Microsoft is a trademark of Microsoft Corporation in the United States, other countries, or both.
About IBMIBM is a leading provider of global hybrid cloud and AI, and consulting expertise. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. More than 4,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and consulting deliver open and flexible options to our clients. All of this is backed by IBM’s long-standing commitment to trust, transparency, responsibility, inclusivity and service.
Visit www.ibm.com for more information.
Media Contact:IBMCarolyn [email protected]
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Inceptio-Powered Autonomous Trucks Surpass 100 Million Kilometers in Safe Commercial Operations

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Major Milestone Advances Autonomous Heavy-Duty Truck Commercialization
SHANGHAI, May 9, 2024 /PRNewswire/ — Inceptio Technology (“Inceptio,” or the “Company”), an industry leading developer of autonomous driving technologies for heavy-duty trucks, today announced that heavy-duty trucks powered by the Inceptio Autonomous Driving System and its Truck Navigate-on-Autopilot (T-NOA) capabilities have surpassed the significant milestone of 100 million kilometers in safe commercial operations, reinforcing Inceptio’s global leadership in the commercialization of autonomous trucks.

This achievement underscores how L3 and L2+ autonomous heavy-duty trucks have been successfully deployed across the line-haul logistics sector, including express delivery, less-than-truckload (LTL) transportation, as well as contract logistics. This also reflects the significant value that autonomous trucks offer logistics operators. 
Accelerating the Adoption of Autonomous Trucks Across the Line-Haul Logistics Sector
Inceptio-powered trucks surpassed 50 million kilometers of safe commercial operations in August 2023. Building on this success, Inceptio rapidly expanded the number of compatible truck models and surpassed the 100-million-kilometer mark by the end of April 2024.
Inceptio’s Autonomous Driving System covers 83% of China’s national highways connecting 7 major economic zones. Over the course of the 100 million kilometers, a total of 1,864 drivers safely used Inceptio-powered L3 and L2+ trucks in their daily operations.
Current customers include all the top logistics companies in China such as ZTO Express (NYSE: ZTO and HKEX: 2057), YTO Express (HKEX: 6123), STO Express (SZSE: 002468), JD Logistics (HKEX: 2618), and SF Express (SHE: 002352). Inceptio has also established an extensive footprint across the contract logistics segment including cold chain, automotive, beverages, and fast-moving consumer goods among many others, serving global brands like Budweiser and Nestlé. Inceptio’s autonomous driving technology caters to a diverse user base—from big logistics companies to small fleets and individual operators.
Inceptio has partnered with several leading Chinese truck manufacturers to pre-load mass produced trucks with the Inceptio Autonomous Driving System. These partnerships have expanded the number of trucks Inceptio powers and include popular models from Dongfeng, Sinotruk, Foton and Liuqi that are available in both 4×2 and 6×4 axle configurations to meet the diverse needs of the line-haul logistics sector.
Paving the Way for Greater Commercialization with Safer, More Efficient, and Profitable Operations
Over the course of 100 million kilometers, Inceptio has demonstrated how its autonomous driving technology and its T-NOA capabilities are paving the way for greater commercial deployment across the line-haul logistics with safer, more efficient, and profitable operations.
The majority of the routes large express delivery companies in China use exceed 500 kilometers in length. Two drivers are commonly assigned to each traditional truck on these routes and take shifts driving in order to minimize fatigue and ensure safety when meeting tight shipping schedules. Inceptio’s solution makes driving much less physically and mentally exhausting as it handles more than 90% of the journey. Express delivery companies have been able to significantly reduce the number of drivers per truck and labor costs on these same routes as a result. On routes ranging from 500 to 1,200 kilometers, Inceptio has realized a direct shift from two drivers per truck to one, resulting in a significant 40% to 50% reduction in labor costs. On routes that exceed 1,200 kilometers where an autonomous truck relay model has been deployed, a traditional assignment of 6-8 drivers per three trucks has been reduced to 5. Likewise, a traditional assignment of 8-10 drivers per 4 trucks has been reduced to 6, resulting in a substantial decrease in labor costs and improved driver satisfaction.
The benefits are equally strong for contract logistic companies, both large and small. Huatai Logistics for example, a contract logistics company specializing in automotive parts transport on routes that average 1,500 kilometers, has seen its driver-to-truck ratio decrease from two to one by using Inceptio-powered trucks. Combined with a reduction of 3-5 liters in fuel consumption per 100 kilometers, total cost of ownership per kilometer decreased by 7-15%. The stellar safety record and enhanced driving comfort offered by autonomous trucks improved fleet-attendance rates significantly and increased monthly kilometers per truck by as much as 10%.
Some individual operators have also seen increases of 10-20% in monthly kilometers per truck and 2,500-5,500 RMB in monthly net income due to the fundamental improvement of safety and driving comfort offered by Inceptio-powered autonomous trucks. The fuel-saving benefits of autonomous trucks are particularly attractive for individual operators.
Leveraging Data Assets to Enhance Inceptio’s Autonomous Driving Technology
Inceptio leverages its powerful, data-driven R&D system to rapidly iterate and enhance its autonomous driving technology. This system, which incorporates accurate and efficient data capturing, automated cloud processing, advanced scenario mining, and automatic annotation, allows Inceptio to continuously refine its industry-leading T-NOA algorithm in real-time. This focus on real-world data is a key driver of Inceptio’s competitive edge in the autonomous driving technology landscape.
Julian Ma, founder and CEO of Inceptio Technology, commented, “Inceptio’s autonomous driving technology and its T-NOA capabilities are making significant progress in their commercialization, allowing us to rapidly surpass the 100-million-kilometer milestone after hitting 50 million kilometers only eight months ago. The impact our technology is having on the logistics industry is profound. The commercial deployment of Inceptio-powered autonomous trucks across the line-haul logistics sector is exciting, but what’s truly inspiring is the creativity and innovation our customers bring to the table. This user-driven approach is pushing the boundaries of how these autonomous trucks are used, opening up new ways to deploy our technology. The more data we gather, the faster we will be able to enhance our algorithms and improve our full-stack solution. We will continue working closely with our truck OEM partners to offer even greater safety, efficiency, and profitability to logistics customers.”
About Inceptio Technology
Inceptio Technology is an industry leading developer of autonomous driving technologies for heavy-duty trucks. Its flagship technology is the Inceptio Autonomous Driving System, a proprietary full-stack solution. Inceptio partnered with leading OEMs to roll out the industry’s first mass-produced L3 autonomous trucks in late 2021. These trucks are operated nationwide in China by customers across the line-haul logistics sector including express delivery, less-than-truckload (LTL) transportation, and contract logistics. Inceptio is at the cutting edge of developing fully driverless trucks. In 2022 it became the first company in China to receive a public road-testing permit for driverless autonomous heavy-duty trucks.
For more information on Inceptio Technology, visit https://en.inceptio.ai/ 

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