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Smart Parking Technologies Market Report 2024 – Smart City Projects and Autonomous Cars Pave the Way for Market Growth




The “Smart Parking Technologies and Global Markets” report has been added to’s offering.
The global market for smart parking technologies was valued at $35.6 billion in 2022 and is expected to reach $88.8 billion by the end of 2028. The market is projected to grow at a compound annual growth rate (CAGR) of 18.1% during the forecast period of 2023 to 2028.Government initiatives such as smart cities are expected to result in better traffic and parking management solutions in regions such as Asia-Pacific and Oceana by the end of 2030. The desire for better technology to lessen the impact on the environment in the region is another factor fostering demand for smart parking technologies.This report segments the global market for smart parking technologies by offering (i.e., hardware. software and services), parking solution type, technology, end user and region.The hardware segment was valued at $23.2 billion in 2022 and is expected to reach $57.6 billion by the end of 2028. The software segment is forecast to grow at a CAGR of 20.9% to reach $22.3 billion by the end of 2028, up from $7.8 billion in 2022. In the wake of the COVID-19 pandemic, commuters were more likely to drive without passengers, and also avoided public transportation. These habits have increased traffic congestion in cities, leading to increased demand for smart parking solutions such as commercial parking, government parking and transport transit parking.This report provides an overview of the global market for smart parking technologies and analyzes market trends. Using 2022 as the base year, the report provides estimated market data for the forecast period 2023 through 2028. Revenue forecasts for this period are made by hardware, software and services; parking solution type; technology; end user and region.
Key Market Dynamics
Market Drivers

Growing Demand for IoT-Based Vehicles
More Vehicles on the Road
Government Policies and Regulations to Support Smart Parking

Market Challenges

Higher Implementation Costs
Lack of Supporting Infrastructure

Market Opportunities

Smart City Projects
Autonomous Cars and Smart Parking Technology

The Report Includes

37 data tables and 54 additional tables
An overview of the global market for smart parking technologies
Analysis of global market trends, featuring historical revenue data for 2022, estimated figures for 2023, forecasts for 2024 and 2026, and projections of compound annual growth rates (CAGRs) through 202
Evaluation of the current market size and revenue growth prospects, accompanied by a market share analysis by offering, parking solution type, technology, end user and geographic region
Coverage of emerging technologies, the current and future market potential, and the regulatory framework and reimbursement scenarios
Review of patents, and ESG trends in the smart parking technology industry
Market share analysis of the key companies in the industry and coverage of mergers & acquisitions, joint ventures, collaborations, partnerships, and other market strategies
Company profiles of major players within the industry, including 3M, Smart Parking, Cisco Systems Inc., and Continental AG

Key Topics Covered:Chapter 1 Introduction
Chapter 2 Summary and Highlights
Chapter 3 Market Overview

Value Chain Analysis
Political, Economic, Social and Technological (PEST) Analysis
Impact of Russia-Ukraine War on the Market
Fragmented Market
Manufacturers of Parking Sensors
Large Providers of Automotive Technology
Smart Parking Technology and Applications Providers
Developments in Smart Parking Technologies
Shift Toward Automation
Integrated Parking Solutions
Autonomous Parking
Infrared Proximity Sensors

Chapter 4 Market Dynamics
Chapter 5 Emerging Technologies and Developments

Future of Smart Parking Technologies
Smart Parking in the Future
Application of Emerging Technologies in Smart Parking
Augmented Reality
Radar Technology
Optical Character Recognition (OCR)
Internet of Things
Computer Vision

Chapter 6 Market Breakdown by Offering


Chapter 7 Market Breakdown by Parking Solution Type

Automatic Park Assist
Assisted Parking

Chapter 8 Market Breakdown by Technology

Ultrasonic Sensors
Internet of Things (IoT)
Radio Frequency Identification
Other Technologies
Counter Technology
Ground-sensor Technology
Camera-based Technology

Chapter 9 Market Breakdown by End User

Commercial Parking
Government Parking
Transport Transit Parking

Chapter 10 Market Breakdown by Region
Chapter 11 Sustainability in Smart Parking Technologies: An ESG Perspective

ESG Issues in the Smart Parking Technologies Industry
Carbon Footprint/Environmental Impact
Labor Practices
Transparency and Governance
ESG Performance Analysis
Environmental Performance
Social Performance
Governance Performance
ESG Risk Ratings and Levels for Companies
ESG Practices in the Smart Parking Technologies Industry
Case Study
Environmental Initiatives
Social Initiatives
Governance Initiatives
Concluding Remarks

Chapter 12 Patent Analysis

Granted Patents (2020-2023)
Recently Awarded Patents

Chapter 13 M&A and Venture Funding Outlook
Chapter 14 Competitive Intelligence

Vendor Landscape
Market Ranking Analysis

Smart Parking Ltd.
Cisco Systems
Continental AG
Aisin Corp
BMW Group
Strategic Analysis

Chapter 15 Company Profiles

Cisco Systems Inc.
Continental Ag
Kapsch Trafficcom Ag
Nec Corp.
Nedap N.V.
Robert Bosch Gmbh
Siemens Ag
Smart Parking
Tkh Group

For more information about this report visit
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Klarna says its AI assistant does the work of 700 people after it laid off 700 people




The Swedish fintech, which was criticized for its handling of a dramatic staff reduction in 2022, is touting new efficiencies powered by OpenAI.

Klarna is bullish on bots.
One month after taking its OpenAI-powered virtual assistant global, the Swedish buy-now, pay-later company has released new data touting its ability to handle customer communications, make shoppers happier, and even drive better financial results.
The app-based AI chatbot already handles two-thirds of all customer service chats, the company said Tuesday—some 2.3 million conversations so far—with the virtual assistant earning customer satisfaction ratings at the same level as human agents. Klarna, which is expected to go public this year and will need all the hype it can get at a time when investors have been generally frosty toward IPOs, estimates that the chatbot could help improve its profits by $40 million in 2024.
Announcing a partnership with OpenAI early last year, Klarna said it was one of the first companies to integrate the firm’s groundbreaking ChatGPT technology into a plug-in for shopping. The natural-language interface initially helped customers choose items and make other shopping-related decisions based on personalized queries, a feature Klarna described as “smooth shopping.”
The company has continued to build out its AI offerings since then. Its app-based assistants are now available to customers worldwide and handle a variety of tasks including refunds, cancellations, and even disputes.
Klarna boasted in its announcement on Tuesday that the AI assistant “is doing the equivalent work of 700 full-time agents.”
That statement may raise eyebrows for anyone who remembers the middle of 2022, when the company laid off roughly the same number of employees, then about 10% of its staff. At the time, CEO Sebastian Siemiatkowski cited economic uncertainty, inflation, and the likelihood of a recession as reasons for the cuts. He was criticized for his handling of the staff reduction after he shared a public spreadsheet on LinkedIn that contained the names of many of the laid-off workers.
Fast Company asked Klarna how the company arrived at its calculation for its AI assistant’s human-equivalent productivity. The company said the number of equivalent jobs the AI could perform wasn’t related to the layoffs. In a statement, a spokesperson said the company’s customer service is supported by four to five large third-parties that collectively have over 650,000 employees, and that it offers customers the option to speak with human agents if that’s what they prefer.
“This is in no way connected to the workforce reductions in May 2022, and making that conclusion would be incorrect,” the statement read. “We chose to share the figure of 700 to indicate the more long-term consequences of AI technology, where we believe it is important to be transparent in order to create an understanding in society. We think [it’s] important to proactively address these issues and encourage a thoughtful discussion around how society can meet and navigate this transformation.”
Companies have used chatbots for years to handle low-level customer queries and other interactions, although these tools are expected to become more versatile in the wake of advancements in artificial intellegence.
Source: Fast Company

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ASTRI fully supports Budget to invest in the future




The Hong Kong Applied Science and Technology Research Institute (ASTRI) welcomes the Financial Secretary’s robust and actionable initiatives outlined in the latest Budget, reinforcing Hong Kong’s status as a leading international hub for innovation and technology (I&T). These strategic moves are designed to enhance the city’s appeal for investment and talent, catalysing the growth of I&T ecosystem with a focus on fostering a green future and advancing digitalisation, injecting fresh impetus into Hong Kong’s high-quality development.
ASTRI is at the forefront with a cache of mature innovative technologies, ranging from AI, Blockchain, Cybersecurity, Digital Twins, Eco-Tech, FinTech and Micro-electronics, that are ready for commercialisation and adoption. These technologies are poised to expedite the green and digital transformation of local businesses, and support Hong Kong to develop as an international green financial centre and establish a highly efficient data ecosystem.
Realise I&T commercialisation
Ir Sunny Lee, Chairman, ASTRI, expressed gratitude for HKSAR Government’s unwavering support towards innovation and technology, bringing new partners and investments for the sector.  ASTRI is committed to collaborating with the government, and developing more applied technologies that positively impact the business and society, with a focus on commercialisation and industrialisation for the greater good.
He added that the I&T sector is actively engaged in the national development plan, seizing “Greater Bay Area” (GBA) and “Belt and Road” (B&R) opportunities, and promoting high-quality development with a focus on technological advancement and green sector. “With ASTRI’s newly-opened office in Shenzhen Futian District, we will further promote GBA companies to adopt Hong Kong-invented innovative technologies to upgrade and transform. With the advanced Hong Kong platform, we aim at helping technologies developed in the region to go global, tapping into B&R countries and beyond.”
Focus on Fintech and Green Tech
Dr Denis Yip, Chief Executive Officer, ASTRI said he is pleased that more resources will be allocated on supporting I&T sector, building I&T ecosystem and strengthening collaboration among government, industry, academia and research institutes, investing the future together. “Technology and finance are the twin engines for the city’s economic development. ASTRI-develop fintech and green tech would revolutionalise traditional industries, and promote the development of new sector such as digital assets, bringing new opportunities for I&T companies and new areas of growth.”
Dr Yip stressed that apart from promoting green finance and digitisation, ASTRI is also committed to the development of the whole I&T ecosystem. He added that three alliances have been set up in the past year, namely, Microelectronics Technology Consortium, Smart Mobility Technology (C-V2X) Alliance and Fintech and ESG Alliance. The fourth one on ConTech and PropTech is on the way, facilitating knowledge transfer and technology innovation. ASTRI will also facilitate industrial transformation and economic growth through I&T. Looking ahead, ASTRI will continue incubating new blood through various talent programmes, expanding the I&T talent pool in the city.
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Natural Personal Care Ingredients Market worth $7.9 billion by 2028 – Exclusive Report by MarketsandMarkets™




The report “Natural Personal Care Ingredients Market  by Type (Emollients, Surfactnats, Rheology Modifiers, Preservatives, Active Ingredients), Application (Skin Care, Hair Care, Make-up, Oral Care), and Region – Global Forecast to 2028″, Natural Personal Care Ingredients Market size was USD 5.3 billion in 2022 and is projected to reach USD 7.9 billion by 2028, at a CAGR of 8.3%, between 2023 and 2028.
The market is projected to grow because of the evolving lifestyle across globe. These natural Ingredients play a crucial role in various skin care, hair care, oral care, make-up, and other applications such as foundations, serums, shampoos, bath soaps, shower gels, creams, face masks, sun care products, lip balms, lipsticks, color cosmetics and others. In addition, due to the increasing population, increasing demand for natural ingredients, technological advancements and changing consumer preferences the demand for natural personal care ingredients can increase due to various applications.
Browse in-depth TOC on “Natural Cosmetics Ingredients Market”

198 – Tables        
68 – Figures
241– Pages

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“Surfactants are projected to register the highest CAGR, in terms of value, of the global natural personal care ingredients market during the forecast period.”
Surfactants are expected to grow rapidly in the natural personal care ingredients market due to increased demand for sustainable products in cosmetics and personal care, as well as their use in pharmaceuticals. They function as surface-active agents, meaning they help reduce surface tension between different substances, allowing them to mix more effectively. Therefore, surfactants are crucial in skincare, haircare, and cosmetics like creams and lotions. Also, the rising awareness of natural ingredients in personal care boosts the demand for natural surfactants. Thus, surfactants are widely used in applications such as skin care, hair care, make-up, oral care, and others, which will increase demand for them in the future.
“The hair care is estimated to be the second-largest application of natural personal care ingredients market, in terms of value, during the forecast period.”
As individuals tackle with a different hair-related issues, ranging from hair loss and thinning to dryness and damage, the demand for effective solutions continues to rise. Combined by the diverse array of hair types, each with its unique needs, such as curly, straight, fine, or coarse, the market for tailored hair care products grows rapidly. Moreover, escalating levels of pollution, characterized by airborne toxins and particulate matter, further exacerbate hair woes, triggering issues like scalp irritation, dullness, and accelerated hair aging. Consequently, the hair care application within the natural personal care ingredients market stands composed for sustained growth, driven by the imperative for complete solutions that address these multifaceted challenges while prioritizing natural and sustainable ingredients.
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“Europe is estimated to be the largest market for the natural personal care ingredients market, in terms of value, during the forecast period.”
The adoption of natural personal care ingredients in this region has increased due to changing environment, concerns about increasing health hazards linked to synthetic ingredients, and shift in lifestyle preferences towards eco-conscious and sustainable products. Moreover, The European region is estimated to be the second-fastest growing regions in the world, with rising disposable incomes. This is creating a favourable environment for the growth of the natural personal care ingredients market. Accordingly, Europe will be the largest market for natural personal care ingredients market during the forecast period.
The key players profiled in the report include BASF SE (Germany), Croda International Plc (UK), Ashland Inc. (US), The Lubrizol Corporation (US), Evonik Industries AG (Germany), Dow Inc. (US), Symrise AG (Germany), and others.
Browse Adjacent Market: Specialty Chemicals Market Research Reports & Consulting
Related Reports:
Green Preservatives Market – GLOBAL FORECAST TO 2028
Biosurfactants Market – GLOBAL FORECAST TO 2028
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