Contactless payment transaction values to double by 2029

According to Juniper Research, the adoption of softPOS payment solutions by smaller businesses will drive a significant increase in contactless payment transaction values. By 2029, global transaction values are expected to rise from US$7.4 trillion in 2024 to US$15.7 trillion.

SoftPOS systems, which allow contactless payments using compatible smartphones, are reducing cost barriers for small and micro-merchants, leading to greater acceptance overall. Additionally, Apple’s recent announcement of “Tap to Cash” for person-to-person payments and widespread roll-outs of “Tap to Pay” on iPhones are predicted to further accelerate this transaction growth.

As access becomes more widespread, users increasingly expect contactless payment options, creating a positive cycle of increased use.

Laser Technology Market to Be Worth $32.8 Billion by 2031 - Exclusive Report by Meticulous Research

According to a new market research report titled, "Laser Technology Market by Type (Solid-state Laser, Gas Laser, Liquid Laser), Application (Laser Processing, Optical Communications), End User (Industrial, Healthcare, Commercial, Telecommunications), and Geography—Global Forecast to 2031," the laser technology market is projected to reach $32.8 billion by 2031, at a CAGR of 10.6% from 2024–2031.

Laser, which stands for Light Amplification by Stimulated Emission of Radiation, involves the emission of a concentrated beam of light through an optical amplification process. This technology finds application in various processes like cutting, drilling, welding, marking, engraving, microprocessing, and advanced manufacturing. Moreover, laser technology finds extensive utilization in welding, cutting, surveying, communication, printing, CD & optical disc manufacturing, spectroscopy, heat treatment, and barcode scanning. The major end users of laser technology include industrial, healthcare, telecommunications, automotive, commercial, and semiconductor & electronics sectors.

The growth of the laser technology market is driven by the increasing adoption of laser technology in the electronics sector, the transition towards micro and nanodevices, and the preference for laser-based material processing over traditional material processing methods. However, the high cost of laser technology may restrain market growth.

Furthermore, the utilization of laser technology in robotics and its applications in optical communication are expected to create market growth opportunities. However, the technical complexity involved in high-power lasers is a significant challenge impeding the market's growth. Additionally, the rising demand for laser technology in 3D printing is a prominent trend in this market.

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The laser technology market is segmented by type (solid-state laser [fiber laser, yttrium aluminum garnet (YAG) laser, Thin-disk laser, and ruby laser], gas laser [Co2 laser, excimer laser, He-Ne laser, argon laser, and chemical laser], semiconductor laser, and liquid laser), application (laser processing [macroprocessing {cutting, welding, and drilling}, microprocessing, and marking and engraving], optical communications, and other applications), end user (industrial, semiconductor & electronics, automotive, telecommunications, aerospace & defense, healthcare, commercial, and other end users), and geography. The study also evaluates industry competitors and analyses the market at the country and regional levels.

Based on type, in 2024, the solid-state laser segment is expected to account for the largest share of around 45% of the laser technology market. The segment's large market share can be attributed to the increasing number of surgeries performed using solid-state laser technology, the rising utilization of solid-state lasers for micromaterial processing, and the growing adoption of YAG lasers for high-power applications.

However, the semiconductor laser segment is expected to register the highest CAGR during the forecast period. This segment's growth is driven by factors such as the increasing utilization of semiconductor lasers due to their higher reliability, compact size, low power consumption, and high efficiency, the rising adoption of semiconductor lasers in the healthcare sector for a wide range of applications, including cosmetic procedures, medical diagnosis, and therapies, and the rising demand for semiconductor lasers, particularly laser diodes such as Vertical-Cavity Surface-Emitting Lasers (VCSELs), in smartphones for sensing applications.

Rugged Smartphone Market size is set to grow by USD 278.5 million from 2024-2028

The global rugged smartphone market size is estimated to grow by USD 278.5 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  4.36%  during the forecast period. Increasing demand from defense sector is driving market growth, with a trend towards emerging applications of rugged smartphones. However, use of consumer-grade devices in place of rugged devices poses a challenge.

The rugged smartphone market is experiencing significant growth due to digitalization and advanced communication technologies. These devices, built to withstand harsh environments, are increasingly being adopted as primary alternatives to consumer handheld smartphones. Integration of features like Bluetooth, walkie-talkie, data/voice communication, and Wi-Fi is driving demand. Industries such as retail, hospitality, waste management, and public transportation are embracing rugged smartphones for supply chain, inventory, and operational management, enhancing customer experience. Microsoft's collaboration with Kyocera to integrate walkie-talkie in Microsoft Teams on ultra-rugged 5G Android smartphones further boosts market growth. Rugged smartphones' low total cost of ownership and resistance to falls, dust, and liquid spills make them ideal for industries like construction, emergency services, and hospitality. GPS location tracking is an added advantage for emergency responders. Overall, the rugged smartphone market is expanding across various sectors.

The rugged smartphone market is experiencing significant growth due to increasing demand for durable devices in various industries. Sensors, such as temperature, touch, and brand new technology like ruggedness sensors, are integrated into these devices to cater to specific needs. Brands offer different product lines, including those with long battery life, water resistance, and drop protection. Markets for these devices include construction, healthcare, and military sectors. Producers also focus on producing compact and lightweight models without compromising durability. Additionally, the trend towards remote work and the need for reliable communication devices have boosted the market. Overall, the rugged smartphone market is a dynamic and evolving sector, with continuous innovation and improvement.

GS1 US Celebrates 50-Year Barcode 'Scanniversary'

GS1 US, the neutral not-for-profit information standards organization best known as the administrator of Universal Product Code (UPC) barcodes, commemorates 50 years since the monumental debut of the first barcode scan ("Scanniversary"), marking a pivotal moment in retail history. On June 26, 1974, a 10-pack of Wrigley's chewing gum adorned with a UPC was scanned at a Marsh Supermarket in Troy, Ohio, igniting an era of retail and supply chain automation. Today, the barcode is used to identify over 1 billion products and is scanned more than 10 billion times daily, serving as a cornerstone of global commerce.

While the UPC has endured for 50 years to aid price lookup at point-of-sale (POS), new two-dimensional (2D) barcodes, like QR codes powered by GS1, are emerging on product packaging to provide consumers with detailed product information. A 2024 GS1 US consumer survey showed that 77% of consumers believe that product information is important when making a purchase and 79% of shoppers are more likely to purchase products with a scannable barcode/QR code (via smartphone) that provides the information they want.

Through industrywide collaboration facilitated by GS1, brands globally are beginning their transition from UPCs to new 2D barcodes, or QR codes, on product packaging, and retailers have set a target date to accept them at checkout by 2027 – a GS1 US initiative labeled Sunrise 2027. These GS1 web-enabled barcodes combine the capability and standards of the UPC and QR code to function at cash registers, offer rich product data from the brand that shoppers can access with a simple smartphone scan, and can help power retail inventory management, visibility, and traceability. Additionally, 20 of the world's biggest companies – including Procter & Gamble (P&G), L'Oreal and Nestlé – have signed a global joint statement calling for the adoption of these next-generation barcodes to revolutionize the consumer experience.

Researchers create power-generating, gel electret-based device for wearable sensors

A team of researchers from NIMS (National Institute for Materials Science), Hokkaido University and Meiji Pharmaceutical University has developed a gel electret capable of stably retaining a large electrostatic charge. The team then combined this gel with highly flexible electrodes to create a sensor capable of perceiving low-frequency vibrations (e.g., vibrations generated by human motion) and converting them into output voltage signals. This device may potentially be used as a wearable health care sensor.

Interest in the development of soft, lightweight, power-generating materials has been growing in recent years for use in soft electronics designed for various purposes, such as health care and robotics. Electret materials capable of stably retaining electrostatic charge may be used to develop vibration-powered devices without external power sources.

NIMS has been leading efforts to develop a low-volatility, room-temperature alkyl–π liquid composed of a π-conjugated dye moiety and flexible yet branched alkyl chains (a type of hydrocarbon compound). The alkyl–π liquids exhibit excellent charge retention properties, can be applied to other materials (e.g., through painting and impregnation) and are easily formable.

However, when these liquids have been combined with electrodes to create flexible devices, they have proven difficult to immobilize and seal, resulting in leakage issues. Moreover, the electrostatic charge retention capacities of alkyl–π liquids needed to be increased in order to improve their power generation capabilities.

Zentra Brings Resident Keys in Apple Wallet to Customers

Zentra, a brand of Allegion, has integrated resident keys capability in Apple Wallet for use by customers and their residents. This enables residents to easily and securely add their resident keys to Apple Wallet and unlock their apartment with a simple tap of an iPhone or Apple Watch. With this new capability, residents are able to unlock their building doors, amenity spaces and individual apartment units without contact using their iPhone or Apple Watch — eliminating the need to use a traditional, physical key.

Seamless, Secure Access with a Tap of an Apple Device: Resident keys in Apple Wallet enable residents to conveniently access all their assigned doors using just their iPhone or Apple Watch. Once a resident key is added to Apple Wallet, residents can hold their device near a door's NFC-enabled lock to seamlessly access secured areas. With Express Mode, residents don't need to unlock their device to use their resident key in Wallet. If an iPhone needs to be charged, residents can still use their device to access their apartment with Power Reserve, an Apple feature.

Operational Efficiency for Multifamily Properties: Property owners, operators, and managers will benefit from the streamlined operations of Zentra's solution. Resident keys can be remotely issued and managed, eliminating the hassle of physical key management and replacement. This not only streamlines operations but also enhances the overall resident experience.

Secure, Private Access Experience: Resident keys in Wallet take full advantage of the privacy and security features already built into iPhone and Apple Watch. Data is encrypted and protected against tampering and theft, and Apple cannot see when or where a resident uses a resident key in Apple Wallet. If their iPhone or Apple Watch is misplaced, the owner of the device can promptly use the Find My app to lock the device and help locate it.

Wiliot Announces Inaugural Ambient IoT Unplug Fest, A Must-Attend Interoperability Event for Companies Building Next-Gen Ambient IoT Devices

Wiliot, the ambient Internet of Things (IoT) pioneer, announced the first-ever Wiliot Ambient IoT Unplug Fest, July 22-23, 2024, in Bentonville, Arkansas.

The event is designed to bring together manufacturing partners, interested companies, and technologists that are developing and scaling ambient IoT devices to ensure they reach their full potential.

Ambient IoT is a battery-free wireless technology being incorporated into leading wireless standards, such as Bluetooth, 5G Advanced, 6G, and Wi-Fi. It allows all types of products to connect to the Internet and exploit the power of artificial intelligence at a fraction of the cost of legacy technologies.

To that critical end, Wiliot will introduce its Wiliot Ambient IoT Certified Product program. Over both days of the Ambient IoT Unplug Fest, companies will be able to test their products in a lab setting to verify compatibility and performance with ambient IoT network bridges, gateways, and more across multiple generations of ambient IoT Pixels and sensors. Ambient IoT Certification will be granted to products and solutions that pass rigorous interoperability testing.

Smart Pole Market size is set to grow by USD 19.14 billion from 2024-2028

The global smart pole market size is estimated to grow by USD 19.14 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 20.6% during the forecast period. Smart pole enables multiple functionalities is driving market growth, with a trend towards increasing number of smart cities. However, high costs associated with smart poles poses a challenge.

The Smart Pole Market is set to expand significantly due to the rise of smart cities. These urban areas utilize interconnected digital technologies, including smart pole solutions, to enhance communication, reduce costs, and improve resource usage. Smart poles, equipped with cutting-edge technologies like cell phones, big data, and artificial intelligence, offer real-time monitoring and emergency response services. The increasing development of clean and green energy and efficient lighting in smart cities will further fuel the demand for smart poles, driving market growth during the forecast period.

The Smart Pole Market is experiencing significant growth due to the increasing demand for sustainable and technologically advanced urban infrastructure. Smart poles, equipped with various sensors and communication systems, are transforming cities by enabling efficient traffic management, improved public safety, and enhanced environmental monitoring.

Urban planning initiatives and the integration of 5G networks are driving the adoption of smart poles. Additionally, energy-efficient LED lighting and solar panels are making these poles more cost-effective and eco-friendly. The market is expected to continue its upward trend with innovations in IoT, AI, and other smart city technologies.

EU to agree to Apple’s open NFC proposal

The European Union (EU) has accepted Apple’s proposal to grant developers free access to its NFC technology on iOS devices, without requiring them to use Apple Pay or Apple Wallet.

This decision comes after Apple made commitments to the European Commission, including offering a new set of APIs for host card emulation-based alternatives to Apple Pay. Previously, the EU had accused Apple of violating competition law by restricting competitors’ access to NFC technology.

However, regulators have now accepted Apple’s measures, which will allow developers to utilize NFC technology freely. The settlement is expected to be finalized in the coming weeks.

RFID Middleware Market size is set to grow by USD 3.24 billion from 2024-2028, Growing popularity of cloud-based RFID middleware among SMEs boost the market

The global RFID middleware market size is estimated to grow by USD 3.24 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 10.91% during the forecast period. Growing popularity of cloud-based RFID middleware among smes is driving market growth, with a trend towards growing interest in smart retail stores. However, rise in data security and privacy issues poses a challenge.

RFID middleware plays a crucial role in smart stores by facilitating communication between RFID readers and other systems. With the increasing adoption of RFID technology in retail establishments, such as Amazon and Walmart, the demand for RFID middleware is expected to grow significantly. This software enables seamless data exchange, enhancing inventory management, and improving overall operational efficiency in smart stores.

The RFID middleware market is experiencing significant growth due to the increasing adoption of RFID technology in various industries. This technology enables automatic data collection and real-time inventory management, leading to improved efficiency and accuracy.

The market is driven by the need for seamless integration of RFID systems with enterprise applications and the requirement for scalability and flexibility. Additionally, the trend towards cloud-based solutions and the increasing use of AI and machine learning in RFID systems are expected to further fuel market growth. Overall, the RFID middleware market is poised for continued expansion as businesses seek to optimize their operations and enhance their supply chain management capabilities.

RFID Digitizes Dinosaur Bone Collection

When fossilized dinosaur specimens were discovered on the Standing Rock Indian Reservation in South Dakota, the tribe and the dig’s management company Earth Science Foundation (ESF) turned to technology to advance their fossil recovery operation.

Among the 347 discovered ancient artifacts were 70 fossils of an Edmontosaurus annectens, (colloquially known as a duck lizard) that walked the continent between 68 and 66 million years ago.

The RFID-data and GPS-based location of all the fossils is now helping build a digital record of each bone’s identity and details including where they were found and stored, in a cloud-based server.

The ESF team— which led the excavation, documentation and handling of paleontological specimens— chose Berntsen International’s InfraMarker RFID system with HID Global tags, to enhance global Geographic Information System (GIS) provider Esri’s management platform.
Tracking Fossils

By attaching a passive UHF RFID tag to each artifact and linking it to data in the cloud along with GPS location, the team reduced data collection time in the field by 80 percent and brought artifact data accuracy to nearly 100 percent.

Global UHF and NFC RFID Tags Market Set for Explosive Growth, Projected to Reach US$ 27.28 Billion by 2032

The global UHF and NFC RFID tags market witnessed a valuation of US$ 7.73 billion in 2023 and is anticipated to surge to US$ 27.28 billion by 2032, at an impressive compound annual growth rate (CAGR) of 15.04% during the forecast period from 2024 to 2032.

Radio Frequency Identification (RFID) technology has emerged as a pivotal component in modern supply chain management, asset tracking, and retail operations. UHF (Ultra High Frequency) and NFC (Near Field Communication) RFID tags, specifically, have garnered significant attention due to their versatility and efficiency in diverse applications. Industries ranging from healthcare and automotive to retail and logistics are increasingly adopting these tags to enhance operational efficiency, improve inventory management, and ensure seamless traceability.

The growing demand for real-time tracking solutions, coupled with advancements in IoT (Internet of Things) and AI (Artificial Intelligence), is expected to drive the market growth further. UHF RFID tags, known for their long-range identification capabilities, are extensively used in logistics and supply chain management. On the other hand, NFC RFID tags, leveraging proximity-based communication, find widespread applications in contactless payment systems, access control, and smart packaging.

Key market players are focusing on innovation and strategic partnerships to expand their product portfolios and geographical presence. The Asia Pacific region is projected to witness substantial growth during the forecast period, driven by rapid industrialization and increasing investments in RFID technology across various sectors.

As the global economy embraces digital transformation and automation, the UHF and NFC RFID tags market is poised for significant expansion in the coming years. Market participants are encouraged to capitalize on emerging opportunities and technological advancements to stay ahead in this dynamic landscape.

Sensormatic Solutions Network of Service Bureaus Enables End-to-End RFID Solutions Worldwide

Sensormatic Solutions can now offer retailers industry-leading radio frequency identification (RFID) source tagging services globally. The organization’s newest RFID Service Bureau in Matamoros, Mexico, expands the footprint of this service, making custom-printed and encoded RFID tags and labels more accessible to North and Central American retailers and their manufacturers for application onto merchandise.

The new North and Central America-focused RFID Service Bureau is the latest facility in the organization’s network, which includes regional locations to provide services in Asia, Europe and the rest of Latin America.

Sensormatic Solutions has always delivered quality RFID-based inventory intelligence solutions to stores, distribution centers and factories. With the RFID Services Bureaus, the capabilities expand by bringing direct delivery of RFID tags and labels to manufacturers worldwide. This helps local manufacturers and retailers to:

RFID technology automates inventory counting processes and updates records in real-time, driving significant reductions in out-of-stocks and markdowns to grow revenue and improve gross margins. For example, the collaboration between Sensormatic Solutions and Renner led to a 64% increase in the Brazilian retailer’s inventory accuracy and an 87% reduction in stockouts.

Source-tagging (equipping merchandise with RFID tags and labels at the point of manufacturing) extends retailers’ line of sight throughout the supply chain, turning merchandise flow data into insights that empower retailers to get ahead of disruptions.

When merchandise arrives floor-ready, associates don’t need to spend time adding tags and labels before stocking shelves and — thanks to automated inventory tracking — staff no longer has to engage in time-consuming manual counting.

Murata Signs RFID License Agreement with Michelin

Murata has announced a licensing agreement with Michelin, the automobile tire manufacturer, to integrate RFID tags into tires in Europe.

The RFID tags will be used to help advance tire management, sustainability, security, and traceability till the end of life within the transportation and wider automotive industry.

Murata is investing heavily in the interconnectivity and traceability of products, particularly through RFID technology. The move comes as Europe is already enforcing the Eco-design for Sustainable Products Regulation (ESPR) to the circularity of products, each of them will be issued a digital product passport (DPP) allowing their life cycle to be traced.
Working Agreement

The mandates will affect tires which must contain an RFID, an essential component to obtain a DPP. Besides sustainability, the companies noted RFID will make it possible to improve the logistics affecting the tire and automobile industry and mobility more generally.

Machine Condition Monitoring Market size is set to grow by USD 1.26 mn from 2024-2028

The global machine condition monitoring market  size is estimated to grow by USD 1.26 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  7.41%  during the forecast period. Wireless communication gaining momentum in industries is driving market growth, with a trend towards improvement in sensor technology

The Machine Condition Monitoring market has experienced significant growth due to the widespread adoption of smart sensors in various industries. Companies like Honeywell and Parker Hannifin offer energy-efficient and reliable sensors for machine monitoring. Researchers have also developed innovative fabric-based sensors for human body movement detection. The focus on IoT and machine condition monitoring has led to the demand for these systems among end-users, driving market growth. Companies like National Instruments and Analog Devices are also investing in advanced sensor technology for machine monitoring applications.

The Machine Condition Monitoring market is experiencing significant growth due to the increasing adoption of predictive maintenance strategies. Proactive approaches to maintenance are becoming essential for businesses to minimize downtime and improve operational efficiency. Technologies like IoT, sensors, and machine learning algorithms are driving innovation in this field.

Predictive analytics is a key trend, allowing organizations to identify potential issues before they become major problems. Additionally, cloud-based solutions are gaining popularity for their flexibility and cost-effectiveness. Overall, the Machine Condition Monitoring market is poised for continued growth as more companies recognize the benefits of proactive maintenance.

BL.INK Announces New Platform Accelerating Global GS1 Adoption

BL.INK, the Enterprise Link Management company, is the first to deliver turnkey SaaS (Software as a Service) technology that enables brands to deploy GS1 Digital Links at scale quickly.

The company combines its established link and QR code management capabilities with a new no-code Content Management System (CMS) functionality that can create millions of data-driven, mobile-ready microsites in minutes. This announcement coincides with the opening of GS1 Connect, the annual GS1-US conference in Orlando, FL.

As the UPCs (one-dimensional barcodes) are retired, the GS1 Digital Link (two-dimensional QR codes) will deliver unlimited product information, supply chain data, and opportunities for first-party information capture—directly from every product. Using BL.INK CXP, global brands can dynamically build mobile-ready destinations for each product, SKU, and serial number. BLINK's unique capability allows consumers to rate, purchase, recycle and access custom multi-language consumer experiences from GS1 data and internal systems to enrich every product in the market.

BL.INK CXP is a no-code CMS based on technology created by Rexidy, founded by Mikael Runhem, the CMS scion who founded EPiServer in the 1990s, now re-branded as Optimizely.

BL.INK CXP pulls data from the Global GS1 database and across the client's organization into customizable templates that deliver data and advanced functionality via a mobile-ready microsite. Consumers can purchase spare parts, opt-in for discounts or loyalty programs, and register their products on these microsites, accessible directly from the product's QR code, without downloading any app. BL.INK CXP can deliver consumer-ready experiences faster than any CMS and integrate directly with Customer Relationship Management (CRM) systems and other supply chain tools.

SwitchBot Introduces New Water Leak Detector with Advanced Features

SwitchBot announces the launch of the SwitchBot Water Leak Detector, which is designed to offer comprehensive protection against water damage at home, ensuring enhanced peace of mind for homeowners. SwitchBot Water Leak Detector is a vital addition to any house, providing advanced features and reliable performance to protect homes around the world.

SwitchBot Water Leak Detector allows users to remotely monitor water leaks from anywhere with Bluetooth and Wi-Fi connectivity, offering accessibility for real-time alerts, and detailed records of water leakage, which can help greatly to prevent floods. Whether at home or away, users can stay informed about leakage situations via the SwitchBot app. Meanwhile, Matter support will be enabled for the SwitchBot Water Leak Detector later this year.

Equipped with 3-in-1 functionality for water drip, water immersion, and water level detection, SwitchBot Water Leak Detector features four sensors on the top and bottom. These sensors can detect water levels as low as 0.5mm, providing early warnings for various water issues such as dripping pipes and floor immersion. Used with a 1-meter sensor cable, SwitchBot Water Leak Detector allows detection in areas that are hard to reach, such as under refrigerators and behind washing machines.

Water Leak Detector has four alarm methods to ensure users are promptly alerted:

Sound Alarms: Emits a 100dB alarm to alert users at home, which can be muted if necessary;
App Notifications: Sends push notifications to the SwitchBot app;
Email Alerts: Provides email notifications to up to 10 addresses;
Voice Alerts: Integrates with Alexa, Google Assistant, Siri, IFTTT, and SmartThings for voice notifications.
Durable and Long-Lasting Design

Built to withstand harsh conditions, SwitchBot Water Leak Detector features an IP67 waterproof rating, making it suitable for high-humidity environments. Even when fully submerged, it continues to function and can be reused after drying. It is powered by two AAA batteries, providing up to 24 months of use. The SwitchBot app also monitors battery level, sending alerts when the battery is low.

Threat Detection Systems Market size is set to grow by USD 230.6 billion from 2024-2028

The global threat detection systems market size is estimated to grow by USD 230.6 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 22.24%  during the forecast period. Increasing number of terrorist activities is driving market growth, with a trend towards use of emerging technologies for increasing efficiency. However, high cost of threat detection systems  poses a challenge.

Threat detection systems are essential components in various industries, particularly in the face of increasing cyber attacks. Technologies like wireless connectivity and artificial intelligence (AI), including machine learning (ML), are driving the development of flexible, adaptive security-oriented systems. ML tools, a key AI discipline, require domain knowledge to effectively analyze data and identify threats. Predictive analytics, a branch of advanced analytics, uses techniques like data mining and statistics to make future event predictions, enabling continuous learning and improvement. The market for global threat detection systems is expected to grow significantly due to the adoption of these advanced technologies.

The Artificial Intelligence (AI) market is experiencing significant growth in the Threat Detection Systems sector. Machines and learning algorithms are becoming essential tools for identifying and responding to cyber threats. Companies are investing in technologies like machine learning and big data analytics to improve threat detection and response times. The use of biometric authentication and behavioral analytics is also increasing to enhance security.

The market for these systems is expected to continue growing, with a focus on creating more sophisticated and effective threat detection solutions. The future of threat detection lies in the ability to predict and prevent attacks before they occur. This requires advanced technology and a deep understanding of cyber threats and attack patterns. The market for these systems is competitive, with many players offering similar solutions. However, those that can provide the most accurate and timely threat detection will be in high demand.

Automotive Engine Sensors Market size is set to grow by USD 4.23 billion from 2024-2028

The global automotive engine sensors market size is estimated to grow by USD 4.23 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 3.27% during the forecast period. The MEMS packaging industry's growth in the automotive engine sensors market is driven by the demand for smaller packages and the integration of 9-axis sensors. Standardization in packaging is essential due to increased MEMS sensor shipments. Vendors focus on low-temperature wafer bonding, MEMS packaging at wafer dicing level, doped polysilicon, and silicon interposers for improved performance and cost savings. These advancements will significantly benefit vendors in the automotive engine sensors market.

The Automotive Engine Sensors market is experiencing significant growth due to the increasing demand for advanced vehicle technologies. Vehicle manufacturers are integrating various sensors to improve engine performance and fuel efficiency. These sensors include LIDAR, radar, and vision sensors. Additionally, the adoption of autonomous driving technology is driving the demand for these sensors.

Functions of these sensors include adaptive cruise control, lane keeping assist, and object detection. Furthermore, vehicle diagnostic systems are becoming more common, requiring more sensors for real-time vehicle data. The future of the automotive engine sensors market looks promising with the integration of artificial intelligence and machine learning technologies.

Market Challenges

In the automotive engine sensors market, manufacturers face low profit margins and high pressure to reduce variable costs, including raw material expenses. Intense bargaining with suppliers can decrease profitability. The market is concentrated, potentially reducing customer bases and profit margins.
Smaller suppliers often struggle with cash flow due to extended payment terms. Factoring, a receivables financing solution, could help by providing up to 80% of invoice value upon delivery and the remaining 20% upon full settlement. However, this model poses challenges for market growth.
The Automotive Engine Sensors market faces several challenges. Sensors such as ECT, O2, and Lambda are crucial for maintaining optimal vehicle performance. However, the integration of these sensors into complex systems like ECUs and CAN bus networks can be difficult. Additionally, the requirement for high accuracy and reliability adds to the complexity.
The use of advanced technologies like EVs and autonomous vehicles further complicates matters. The need for cost-effective solutions while ensuring durability and longevity is a significant challenge. Radar and ultrasonic sensors in safety systems present another set of challenges due to their complex working principles and high precision requirements. Overall, the Automotive Engine Sensors market requires continuous innovation and improvement to meet the evolving demands of the industry.

Global Audits Uncover Widespread Sensor Issues in Mission Critical Data Centers

As the demand for artificial intelligence continues to surge, concerns about the environmental impact of data centers are escalating, particularly regarding their substantial energy and water usage. The nationwide imperative to ensure the sustainability of data centers, which house the advanced data processing technology essential for AI operations, is receiving unprecedented attention.

After calibrating over 100,000+ sensors in live data centers, Standard Calibrations, Inc. (SCI), issued a whitepaper with alarming audit findings: 1 in 4 sensors that were monitoring essential functions such as heating, cooling, humidity control, and other operations were found to be inaccurate. Furthermore, installation deficiencies were identified in new data centers more than 15% of the time. SCI attributes these inaccuracies to various root causes, including evolving technology demands and oversights in sensor design, selection, and installation.

Standard Calibrations, Inc. (SCI) of Chesapeake, Virginia, the leading authority in sensor calibrations for building management systems (BMS), warns that overlooking sensor inaccuracy can lead to costly downtime and operational inefficiencies for data centers.

Accurate building sensor data is the cornerstone of maintaining system performance and achieving sustainability targets for data center owners and operators. However, drifting, inaccurate, or failing sensors can have severe consequences and may lead to underperforming HVAC systems, increased energy consumption, and unnecessary equipment wear—all of which can significantly impact risk and cost.

Ensuring the accuracy and reliability of building sensors is a strategic imperative for business executives seeking to safeguard their data center investments and maintain a competitive edge. By leveraging SCI's free SensorProQ health check services, data center owners and operators can take the first step toward ensuring data integrity, optimizing system performance and uptime, and driving operational excellence.

As part of the SensorProQ service, SCI also offers QAQC surveys and consultations that help mitigate risk by ensuring sensors are installed correctly, fully setup, and functioning as intended. These SensorProQ checks are conducted seamlessly and with no disruption to critical data center operations.

Geofencing Market size is set to grow by USD 6.42 billion from 2024-2028

Geofencing is a location-based technology increasingly used in logistics, retail, defense, healthcare, manufacturing, and media and entertainment industries. Its applications include asset monitoring, fleet management, customer satisfaction, workforce management, and marketing in these sectors.

The technology's widespread adoption is expected to drive the growth of the global geofencing market, with significant potential in asset management, risk assessment, and targeted advertising.

The Geofencing market is experiencing significant growth, driven by advancements in technology and increasing adoption by businesses. Geofencing technology allows businesses to deliver targeted, location-based messages and offers to consumers. This trend is particularly prominent in the mobile industry, with apps using geofencing to provide personalized experiences.

Additionally, the use of geofencing in logistics and supply chain management is on the rise, improving efficiency and reducing costs. Overall, the geofencing market is expected to continue growing, offering numerous benefits to businesses and consumers alike. Keywords: Geofencing Market, Technology, Adoption, Targeted, Location-based, Mobile, Personalized, Logistics, Supply Chain, Efficiency, Costs.

The geofencing market is characterized by high investment costs due to the capital-intensive nature and extensive hardware requirements. Deployment and integration of these location-based solutions are complex and time-consuming, leading to significant expenses for organizations, especially small enterprises. Vendors must help businesses plan carefully to mitigate these costs and ensure successful implementation during the forecast period.

The Geofencing market is experiencing significant growth, with technologies like GPS, Wi-Fi, and Bluetooth enabling location-based services. However, challenges persist in implementing accurate and reliable geofencing solutions. One challenge is the need for precise location data, as errors can lead to incorrect triggers and customer dissatisfaction.

Another challenge is ensuring battery life for mobile devices, as continuous location tracking can drain batteries quickly. Additionally, privacy concerns continue to be a major issue, with consumers wary of sharing their location data.

To address these challenges, companies are investing in advanced algorithms and machine learning to improve accuracy and reduce battery usage. They are also focusing on transparent data collection and usage policies to build trust with consumers.

SensePass Partners with Affirm to offer Consumers a Fast Way To Pay In-store

SensePass announced a partnership with Affirm, the payment network that empowers consumers and helps merchants drive growth.

As of June 5, 2024, the Affirm offerings will be available on the SensePass platform as a payment option at checkout. Consumers go through a quick, real-time approval process. Once approved, consumers can select, in real time, from custom payment plans with APRs starting at 0% for eligible purchases. Consumers are shown the total cost of their purchase and will never pay more than they agree to upfront as there are no late or hidden fees with Affirm.

Offering Affirm at checkout can drive more sales. Merchants using Affirm have reported 60% higher average order values when compared to other payment methods. Sensepass merchants who offer Affirm can also increase customer loyalty, as approximately 90% of Affirm purchases are from repeat Affirm users.

Affirm partners with more than 279,000 top merchants in the U.S, including Amazon, Casper, DICK'S Sporting Goods, Newegg, SeatGeek, Target, Royal Caribbean, Priceline, Walmart, TheRealReal, American Airlines, Net-a-Porter and Temu.

SensePass empowers merchants to accept all forms of digital payments, including e-wallets, Buy Now, Pay Later (BNPL) services, cryptocurrency, open banking, and more. This flexibility extends across all sales channels, whether in-store, online, or over the phone. As a result, SensePass offers the industry's only truly omnichannel payment experience.

The SensePass platform seamlessly connects over 100 wallets, including popular options like Affirm, Amazon Pay, Venmo, PayPal, Open Banking integrations, WeChat Pay, Alipay, and many more. Additionally, it integrates with over 30 different Point-of-Sale (POS) platforms, such as Oracle X Store, NetSuite, NCR, Microsoft Dynamics 365, Aptos, Shopify, and others.

Dumb drones set to become smart with a world first in navigation technology

Demand for commercial drones is growing dramatically --- from an estimated $19.9 billion in 2022 to a projected $57 billion in 2030. And the Autonomous Vehicle (AV) market is projected to grow to more than $13 trillion by 2030. But one of the key challenges for drone and AV manufacturers continues to be finding more-accurate and lower-cost navigational sensors that are essential to enabling this growth.

Drones and AVs rely on sensor technology to navigate. Until recently, much of the technical work on AV navigation has focused on a blend of sensors that have critical limiting factors. Camera, radar, and lidar sensors are all limited by advancements in computer perception, with a huge need for redundancy due to environmental conditions – such as the risk of fog or dirt covering one or more sensors. Another technical challenge is that many types of drones and AVs must operate in demanding and/or hostile environments where GPS is denied and extreme accuracy is essential.

Now a Quebec-based company has developed an inertial optical system that matches the accuracy of navigational sensors used in the aerospace industry at a fraction of the cost. And because these chips do not have any moving parts, they are 10 times more accurate than commercial-grade Micro-Electro-Mechanical Systems Inertial Measurement Units (MEMS IMUs) and they enable highly accurate navigation even when GPS signals are not available.

The company behind this new technology, Montreal-based One Silicon Chip Photonics (OSCP), has partnered with French multinational company Thales, which is developing autonomous rail systems and has been testing OSCP's prototype in the field. Using sensors like OSCP's in rail transport will increase vehicle autonomy which --- along with moving block signaling --- has the potential to increase rail capacity by up to 50% and cut energy consumption by 15%, according to Thales.

In addition to rail transport and military applications, drones and AVs are also increasingly being used in agriculture, mining, mapping and survey work, as well as in trucking, delivery and other transport industries.

OSCP has recently secured $1.2 million in seed funding from 7percent Ventures and 2050 Capitol, which will allow it accelerate its growth. This funding supplements earlier grants to OSCP totalling $4.2 million from Sustainable Development Technology Canada (SDTC), Next Generation Manufacturing Canada (NGen) and from Ministère de l'Environnement, de la Lutte contre les changements climatiques, de la Faune et des Parcs (Climate, Wildlife and Parks Division of Quebec Ministry of Environment) under the Technoclimat program. Central to funding has been the potential of the technology to reduce greenhouse gas emissions in autonomous transport as compared with conventional technologies.

Millimeter Wave and Microwave RF Transceiver Market size is set to grow by USD 4.30 billion from 2024-2028

The global millimeter wave and microwave RF transceiver market size is estimated to grow by USD 4.30 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of about 10.49% during the forecast period. The IoT market's expansion is driving the demand for RF transceivers in millimeter wave and microwave frequencies.

With an estimated 34 billion connected devices by 2023, generating 50 trillion GB of data, RF technology plays a crucial role in IoT communication. Transceivers, such as Analog Devices' ADF7030-1, offer superior interference immunity and low power modes, making them ideal for IoT devices. This trend is expected to boost the market growth for RF transceivers during the forecast period.

The Millimeter Wave and Microwave RF Transceiver Market is experiencing significant growth due to the increasing demand for high-speed wireless communications. Technology trends include the use of 5G technology, which requires advanced transceivers to support high data rates and low latency. Common applications include autonomous vehicles, IoT devices, and military communications.

The market is competitive with key players offering advanced features such as high linearity, low power consumption, and wide bandwidth. The use of advanced semiconductor technologies and the integration of artificial intelligence and machine learning are also driving innovation in this market. The future looks bright for this industry as the demand for faster and more reliable wireless communications continues to grow.

Market Challenges

The miniaturization trend in electronic devices has driven up transistor integration on ICs, complicating transceiver chip design and manufacturing. Vendors must invest heavily in new tools and processes to keep up with evolving device standards. Design challenges, such as clock frequency limitations, add to development costs.
However, OEMs push for lower component costs, creating a market growth hurdle. Keywords: miniaturized electronic devices, transistor integration, transceiver chips, design complexity, manufacturing process, high-performance, power-efficient, evolving device standards, development costs, OEMs.
The Millimeter Wave and Microwave RF Transceiver Market face several challenges. Technology requirements include high data rates, low power consumption, and small form factors. Complexity arises from the need for integration of multiple functions such as antenna arrays, power amplifiers, and filters.
Cost is a significant challenge due to the high manufacturing costs of millimeter wave components. Regulatory hurdles, including spectrum availability and licensing, add to the complexity. Additionally, ensuring reliable performance in various environments and applications is essential. Overall, the market requires innovative solutions to address these challenges and drive growth.

Smart Tracker Market size is set to grow by USD 572.8 million from 2024-2028

The global smart tracker market  size is estimated to grow by USD 572.8 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  9.75%  during the forecast period. The smart tracker market is driven by the demand for durable and rugged devices. Manufacturers address this need by using metal in their designs and ensuring IP43 water resistance. Tile's Pro Series, for example, boasts IP68 waterproofing. These durability features match customer requirements, fostering market growth during the forecast period.

The Smart Tracker market is experiencing significant growth with technologies like GPS and Bluetooth leading the way. Technologies enable real-time location tracking for various applications such as asset management, personal safety, and pet tracking. Smartphones and wearable devices are popular platforms for these trackers. The trend towards connected devices and the Internet of Things (IoT) is driving innovation in this space.

Devices are becoming more affordable and feature-rich, making them accessible to a wider audience. Companies are focusing on developing more accurate and reliable tracking systems to meet consumer demands. The market is expected to continue growing as more industries adopt these technologies to improve efficiency and productivity.

Market Challenges

The smart tracker market faces significant challenges, primarily due to the poor battery life and limited functionality of devices. Tile, a leading brand, offers non-replaceable batteries, while others like Slightech and TrackR have replaceable batteries. Additional features can decrease battery life to a month. Manufacturers must address these issues to enhance product value and potentially hinder market growth during the forecast period.
The Smart Tracker market faces several challenges in the technological landscape. Devices and technologies, such as GPS, cellular, and Bluetooth, play crucial roles in this industry. However, ensuring security and privacy in these devices is a significant challenge. Additionally, the integration of various technologies and the development of user-friendly interfaces are essential for market growth.
Furthermore, the competition from established players and new entrants, as well as the need for cost-effective solutions, pose additional challenges. The market also requires regulatory compliance and adherence to industry standards. Lastly, the market's success depends on the ability to provide accurate and reliable tracking services, making technology advancements and innovation vital.

Unmanned Weighbridge Centering System: 24/7 Automated Weighing Solution

Helios Tech Solutions introduces its Unmanned Weighbridge Centering System. This innovative technology improves efficiency through continuous operation, reduced waiting times, elimination of human errors, enterprise-level integration, and enhanced security and control over the weighing process. It facilitates fully automated weighing operations 24*7, eliminating the need for a dedicated operator and enhancing operational efficiency.

The Unmanned Weighbridge Centering System integrates a variety of peripheral devices, intended to perform tasks typically managed by a weighbridge operator. These components include positioning sensors and cameras, which work together to ensure accurate truck alignment on the weighbridge. The system also incorporates display and PA (Public Address) systems that provide real-time feedback and instructions to drivers, thereby facilitating seamless and efficient weighing operations. Additionally, boom barriers are seamlessly integrated into the system to regulate access and enhance traffic flow, thereby improving operational efficiency and safety protocols.

Designed as a standalone solution, this system can be easily integrated with new or existing weighbridges of any make, supporting both uni-directional and bi-directional operations.

The Unmanned Weighbridge Centering System offers several key features and benefits to enhance operational efficiency and data management. Equipped with an RFID, Reader proudly manufactured in India, the system enables swift and precise vehicle identification, streamlining the weighing process. An IP Camera ensures thorough auditing by capturing truck images, adding an extra layer of security and accountability. Voice Guidance and Information Displays provide continuous support to drivers, ensuring smooth operations throughout. Furthermore, the system seamlessly integrates with enterprise resource planning (ERP) systems such as Oracle, SAP, Microsoft Dynamics, and Tally, allowing for centralized management of weighing data across multiple sites, optimizing workflow and facilitating effective decision-making.

Worldwide Shipments of Wearable Devices Grew 8.8% Year Over Year in Q1 2024

The wearables market began 2024 with a growth spurt as global shipments of wearable devices grew 8.8% year over year in the first quarter (1Q24) to 113.1 million units, according to new data from the International Data Corporation (IDC) Worldwide Quarterly Wearable Device Tracker. Despite the shipment growth, average selling prices (ASPs) declined for the fifth quarter in a row, dropping 11% in 1Q24 as emerging markets gained traction and as the economy put downward pressure on consumer spending.

Worldwide shipments of wearable devices grew 8.8% year over year in Q1 2024 to 113.1 million units while average selling prices declined for the fifth quarter in a row, according to the IDC Worldwide Quarterly Wearable Device Tracker.

"The lack of major innovation in the premium segment has allowed tier-2 brands to narrow the gap across the board," said Jitesh Ubrani, research manager, Worldwide Mobile Device Trackers. "Until we get to a point where new sensors or algorithms enable prescriptive insights or the tracking of new datapoints such as blood pressure or glucose, consumers will likely gravitate towards the mid to value price points and this is where brands have continued to invest by diversifying their pricing ladders."

"It's important to pay close attention to smaller, regional vendors," said Ramon T. Llamas, research director with IDC's Wearables team. "The appetite for wearables is not lost on emerging markets, but higher prices on wearables from premium brands make them cost prohibitive for many. That has opened the door for local brands to introduce low-cost yet feature-laden devices to meet this unsatiated demand. That's how companies like Xiaomi and Imagine Marketing have established positions among the top vendors worldwide."

Apple maintained the top position although it was held back by poor macroeconomic conditions, a temporary ban on certain watch models, and the lack of newer AirPods. Overall, Apple Watch shipments declined 19.1% year over year while hearables including AirPods and Beats declined 18.8% during the quarter.

Xiaomi ranked second with 43.4% year over year growth thanks to an easy comparison over a 16% decline in the first quarter of 2023. The company's value-oriented products resonated with users and the recent re-entry into Wear OS watches has helped the company become the third largest vendor within the Google ecosystem and grow its overall smartwatch average selling prices.

Huawei captured the third spot, surpassing Samsung, thanks to the return of its smartphone business, which had a positive impact on wearables due to bundling. However, the company's sales are heavily concentrated in China with about three quarters coming from the region.

Samsung slipped into fourth place. The launch of the Galaxy Fit 3 as well as success with lower-priced hearables helped the company achieve market beating growth although its core smartwatch volume declined 5.1% during the quarter.

Imagine Marketing (boAt) rounded out the top five. The Indian brand known for its extreme value-oriented products managed to grow its hearables volume by 17.5% but its smartwatches saw a tremendous decline of 61.3% due to extreme competition within the home country.

BarTender simplifies and streamlines data collection and item tracking

Seagull Scientific, LLC, ("Seagull") maker of BarTender, the global leader in software to print, mark, and code labels, RFID tags, products, and packaging, has created a new solution that simplifies, accelerates, and provides real-time end-to-end visibility into an organization's operations.

BarTender enables real time asset tracking, inventory management, and work-in-progress tracking by simplifying and streamlining data-collection through existing BarTender labels and RFID tags. By leveraging the data already associated with each BarTender label and RFID tag, additional data can enhance traceability and transparency.

Leveraged by businesses of all sizes across many industries, including the world's largest and most dynamic supply chains, BarTender creates item, case, pallet labels, RFID tags, and other digital identities. Now, BarTender customers can easily add information to the BarTender record during the labels' transit through packing, shipping and receiving.

Work Sharp, a manufacturer of industrial sharpening tools based in Ashland, Oregon, is a BarTender customer. Recently, Work Sharp engaged with BarTender to solve several issues associated with ecommerce brand protection and channel management.

Work Sharp participates in the Amazon Transparency program – a product serialization service which uses unique serial codes to ensure that every item shipped to customers is authentic. However, the process was manual and limited the number of their catalog items that could utilize the Transparency program. Additionally, they had channel management issues resulting in their products being listed on the ecommerce marketplace by unauthorized partners at unsustainable pricing. This channel conflict resulted in significant loss of revenue and increased channel discontent.

BarTender was able to help Work Sharp solve both problems with an easy to deploy solution because it uses existing labeling infrastructure to capture the necessary data to facilitate the tracking and management of inventory:

When an Amazon Transparency label is printed with BarTender, the process of registering the codes with Amazon is completely automated, making the process easier, more efficient, and with less opportunity for error.
The BarTender label design was enhanced to support both a physical label and an e-label. The e-label contains data needed to identify the partner it was sold to. When printed, a physical label is produced, and an e-label is stored. The e-label information is only available to Work Sharp and is not visible on the physical label.
BarTender partnered with Mojix, a leader in real-time, item-level visibility solutions, to improve inventory tracking for Work Sharp.
Label information is transferred to the Mojix solution, a global supply chain management platform that provides real-time, item-level visibility, aggregating and displaying detailed insights into each item's journey.
When Work Sharp wants to investigate the history of a Work Sharp item being sold on Amazon marketplace, they purchase the item and scan the Amazon Transparency code to view the e-label's private information. This enables the Mojix Source® app to provide information on the item's logistics history.

DirectMail2.0 Partners with Flowcode's Enterprise QR Code Platform to Further Enhance Direct Mail Reporting & Performance

DirectMail2.0, the Tampa Bay area-based omnichannel marketing firm, has partnered with Flowcode to natively integrate Flowcode's QR code generation, customization and real-time reporting into the DirectMail2.0 platform. The move will give DirectMail2.0 users the option to integrate DM20's native Flowcode functionality in their omnichannel campaigns, and will be available starting today.

Flowcode made its mark in the marketing technology space by embedding enterprise-grade analytics and integrations behind their dynamic QR codes. Their QR can be changed and rerouted at any time, providing personalization and flexibility that greatly extends the lifetime use on printed material, allowing brands to minimize cost and maximize ROI.

DirectMail2.0's mission is to maximize omnichannel performance by integrating the latest mailing technology with real-time reporting and digital components to lift engagement and response. The DirectMail2.0 omnichannel ecosystem currently includes 15 features proven to lift response and ROI, including Flowcode, email follow up, targeted and geo-fenced digital ads, USPS mail tracking and Informed Delivery, personalized landing pages, de-anonymizing pixel technology, and more — all managed from a single dashboard that also reports real-time campaign results from online and offline campaign components alike. Through this robust omnichannel treatment, DirectMail2.0 users typically see a 25–50% lift in direct mail effectiveness compared to traditional direct mail alone.

Moving forward, DirectMail2.0 plans to bolster its commitment to improving direct mail response through AI and machine learning to better predict and enhance campaign results. With the recent acquisition of 40-year-old mailing institution Who's Mailing What!, DirectMail2.0 has increased its AI-powered direct mail database to over 400,000 campaigns — over 1.1 billion mail pieces — that have been delivered to every household in America, scanned, cataloged, and measured for success. DirectMail2.0 expects this database, known as DM20.ai, to help advertisers save millions by helping them better model, design and target prospects and customers with greater direct mail insights. DM20.ai is currently scheduled for a Q3 beta release later this year.

PacSun to Expand RFID Pilot This Summer

PacSun is expanding its use of RFID technology in its stores. Over the past six months, the retailer has integrated RFID technology into its Manhattan Associates Active Omni store inventory solution at 50 stores. PacSun partnered with Nedap to implement RFID across all of its stores. The chosen solution is Nedap’s iD Cloud, which aims to increase inventory accuracy, inform replenishment decisions, and enhance both omnichannel and in-store experiences1.

PacSun sees RFID as a valuable technology to create a higher level of transparency with customers and fulfill more customer orders. Nedap’s Virtual Shielding algorithms enable PacSun to digitally identify article locations with 98 percent accuracy. This accuracy contributes to labor savings and better inventory management.

The iD Cloud Store solution improves omnichannel fulfillment and increases buy-online-pickup-in-store usage.

Shirley Gao, PacSun’s Chief Digital and Information Officer, highlighted that RFID technology allows store employees to make adjustments based on a more detailed and accurate inventory count. Store associates can now capture new arrivals and locate missing products more efficiently.

CCC Companies Building Standardized NFC Car Access

The Car Connectivity Consortium (CCC)—a group focused on advancing phone-to-car connectivity—recently began offering NFC certification to standardize the technology as part of the group’s vehicle connectivity solutions. By including NFC, its members are now testing and certifying their NFC implementation to meet the universally interoperable and secure CCC Digital Key standard.

That CCC certification inclusion accelerates and standardizes efforts to build NFC solutions for phone-to-car access. NFC is a short range 13.56 MHz RF technology complying with ISO 14443, which is built into smart phones and commonly used for payments. Companies are also employing the technology for applications such as brand recognition, authentication and enabling drivers to unlock their car door with their phone.

The CCC Digital Key is an ecosystem that allows mobile devices to store, authenticate and share the unique ID of a vehicle for secure access. The inclusion of NFC for certification was first announced in December 2023, and companies have since been building solutions based on the certification.

A variety of technologies are being used as wireless, phone access methods for vehicles: Bluetooth or Bluetooth Low Energy (BLE), ultra-wide band (UWB) and NFC. Each of the technologies comes with its own attributes, benefits or shortcomings based on the application.

Among the technologies being used for car access and connectivity, NFC is unique due to its limited transmission range, requiring users to be within centimeters of their vehicle to tap to unlock.

This relatively short range can deter many keyless proximity attacks, as an attacker is unlikely be close enough within range to intercept an NFC signal transmitted from a smart device to a vehicle, said Ian Televik, CCC’s marketing director.

That means auto manufacturers and original equipment manufacturers have an interest in NFC-based access or have made NFC one of the options for their access technology. Those developing such NFC based solutions can now gain CCC Digital Key Certification to signal to users that their NFC implementation is secure while enabling a consistent user experience based on universal interoperability.

Ward Dickson Appointed to Avery Dennison Board of Directors

Avery Dennison Corporation announced that its board of directors has appointed Ward Dickson as a director, effective June 1, 2024.

Dickson, 61, served as executive vice president and chief financial officer for WestRock Company, a leading sustainable, fiber-based packaging solutions company with $20.3 billion in fiscal 2023 revenues, from July 2015 to November 2021. Dickson served in the same capacity at RockTenn Company, one of WestRock’s predecessor companies, from September 2013 to July 2015. He previously served in finance positions of increasing responsibility at Cisco Systems, Inc.

Avery Dennison Corporation is a global materials science and digital identification solutions company that provides a wide range of branding and information solutions that optimize labor and supply chain efficiency, reduce waste, advance sustainability, circularity and transparency, and better connect brands and consumers. Products and solutions include labeling and functional materials, radio frequency identification (RFID) inlays and tags, software applications that connect the physical and digital, and a variety of products and solutions that enhance branded packaging and carry or display information that improves the customer experience.

Parking Management Market to be Worth $12.3 Billion by 2031

Parking Management is a system designed to streamline and automate various aspects of parking operations. Parking management systems refer to a set of technologies and strategies used to optimize the use of parking spaces in urban and suburban areas. These systems typically involve a combination of hardware and software, including sensors, cameras, and management software. The system helps people, companies, and organizations to manage their parking spaces. It captures the entry and exit times of vehicles entering and leaving the parking area to allocate the parking spaces efficiently, ensuring maximum utilization of available space. It allows users to reserve parking spaces in advance and handle the payments for parking, including options for hourly, daily, or monthly rates, as well as different payment methods such as cash, credit/debit cards, and mobile payments.

The growing number of vehicles, the increasing need to reduce traffic congestion, and the increasing adoption of smart parking management systems in smart cities support the market growth. Also, the adoption of parking management systems is increasing in the commercial sector to enhance efficiency, improve customer experience, and maximize revenue generation, supporting market growth.

In this market study, a comprehensive analysis of recent dynamics related to parking management was conducted to accurately forecast the future of the global parking management market. The study also includes an in-depth profile of key stakeholders in the global parking management market, categorized based on their market positions.

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Based on component, the parking management market is segmented into solutions and services. In 2024, the solutions segment is expected to account for the larger share of the global parking management market. The large market share of this segment is attributed to the growing need for robust and seamless solutions to improve the parking experience for users and increase revenue and operational efficiency. In addition, the high focus of transport authorities across the world to reduce traffic congestion and encourage daily commuters to use more and more park-and-ride facilities is further supporting the growth of this market.

Based on end user, the parking management market is segmented into commercial and residential. In 2024, the commercial segment is expected to account for the larger share of the global parking management market. The large market share of this segment is attributed to the increasing adoption of parking management systems in the commercial sector to manage security concerns, obstructive parking, and unallocated spots in many companies.

Based on technology, the parking management market is segmented into license plate recognition, reservation-based parking management systems, image processing, RFID-based parking management systems, visible light communication, and other technologies. In 2024, the reservation-based parking management systems segment is expected to account for the largest share of the global parking management market. However, the RFID-based parking management systems segment is projected to register the highest CAGR during the forecast period. The growth of the segment is attributed to the rise in the adoption of RFID tags in intelligent transportation systems and increasing government initiatives on integrating RFID technology in the commercial sector.