Socket Mobile Announces New React Native CaptureSDK Update, Enabling Custom Camera Scanning for iOS and Android

Socket Mobile announces a new update to its React Native CaptureSDK. This update supports the React Native version 0.75.4 and enables developers to customize the SocketCam viewfinder within their applications, expanding possibilities for camera scanning integration on iOS and Android.

React Native, a popular open-source framework created by Meta Platforms (Facebook), allows developers to build cross-platform applications from a single codebase. Since its inception, it has powered thousands of popular applications, including Instagram, Tesla, and Walmart. Socket Mobile's CaptureSDK with SocketCam provides React Native developers with innovative camera scanning software—offering both the C820, a free version ideal for basic scanning needs, and the C860, an advanced option for robust scanning performance.

With Socket Mobile's latest update, React Native developers can provide users a flexible, tailored camera scanning experience with the new custom SocketCam viewfinder, available for both the SocketCam C820 and C860 barcode scanners. Developers can now choose between full-screen scanning or a custom, compact viewfinder—enabling more seamless integration into multi-function applications and enhancing the overall user experience.

In addition, the React Native CaptureSDK is now publicly available on GitHub, giving developers easy access to the latest tools, updates, and resources they need to integrate Socket Mobile's high-performance scanning software into their applications.

The challenge for application developers is to service a wide range of customers with various data capture requirements, from the price-sensitive to the performance-sensitive and even multiple data types. CaptureSDK with SocketCam enables consistent data capture performance across these diverse requirements. Integrating CaptureSDK is entirely free for app developers, simplifying their development process by providing a one-stop solution to all Socket Mobile products (hardware and software) via a single, easily maintainable integration.

To take advantage of its capabilities, React Native developers must ensure that their applications use the latest version of CaptureSDK with SocketCam enabled. From there, the flexibility extends to the app's end users as they now have the power to leverage SocketCam C820 for free or easily upgrade to the C860 or a dedicated hardware scanner if they choose. The decision is solely in the end users' hands, keeping Socket Mobile's technology accessible to all.

Geographic Information System Market Skyrockets to $19.30 Billion by 2031

According to a new comprehensive report from The Insight Partners, "Geographic Information System (GIS) Market Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Component [Hardware, Software, and Services], Function, and End User, and Geography", the global geographic information system market is observing significant growth owing to increasing investment in smart city project development across the globe.

The Geographic Information System Market is experiencing significant growth, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. The market, valued at $10.27 Billion in 2023, is expected to grow at a Compound Annual Growth Rate (CAGR) of 8.2% during 2023–2031.

The global logistics industry was valued at ~US$ 9.4 trillion in 2023 and is expected to reach US$ 9.9 trillion in 2024, with an annual growth rate of 5.3%, according to the United Nations Report in 2022. In the transportation and logistics sector, geographic information systems are used for live traffic monitoring and real-time vehicle tracking. GIS offers monitoring functions using visual display of the spatial data and provides precise geographical real-time positioning of monitored vehicles.

GIS mapping solutions are widely used to create new railway routes, roadways, and other transportation routes. Investments in the infrastructure development of roadways and railways across the globe continue to grow rapidly. According to the Global Infrastructure Outlook Report, in 2023, the global transportation infrastructure investment reached US$ 1.60 trillion. Geographic information systems are widely used in the analysis and visualization of spatial data while planning transportation infrastructure and management. It provides several benefits, such as improved efficiency, cost reduction, and safety and sustainability. According to the World Bank Organization, the Global Roads Inventory Project consists of more than 60 geospatial datasets related to road infrastructure. This dataset covers around 222 countries and includes a roadmap of 21 million km of roads.

Geographical Insights: In 2023, North America led the market with a substantial revenue share, followed by Europe and APAC. Europe is expected to register the highest CAGR during the forecast period.

Intelliguard and Codonics Partner to Strengthen Patient Safety

Intelliguard, a provider of RFID enabled-medication management and data-intelligence solutions, announces a strategic partnership with ​Codonics​, a global leader in healthcare technology offering cutting-edge solutions for patient safety.

This partnership combines Intelliguard’s flagship Mira Care Station with the Codonics Safe Label System (SLS) for fast, compliant, and standardized syringe labeling, ensuring a closed-loop medication process in operating rooms.

Installed in more than 16,000 operating rooms across 1,000+ hospitals, Codonics’ innovative medication safety system integrates barcode scanning and uses visual and audible electronic safety checks to ensure clinicians reliably select the correct medication to help eliminate labeling errors during medication preparation.

Combining SLS into the Mira Care Station’s workflow, clinicians have a fast, easy, and safe way to help eliminate the three most common medication errors in the OR, including vial and ampoule swaps, mislabeling, and syringe swaps.

RFID technology is rapidly emerging as a game-changer in the healthcare industry, offering significant opportunities to improve patient safety and optimize clinician efficiency. Intelliguard is the only solution that integrates advanced RFID technology and a comprehensive ecosystem for medication management while ensuring real-time visibility and data intelligence for enhanced patient safety and operational efficiency.

By combining the two technologies, Intelliguard and Codonics enable hospitals to better comply with the ISMP Guidelines for Safe Medication Use in Perioperative and Procedural Settings, developed to support hospitals in addressing gaps in perioperative and procedural medication safety.

Cipia to present In-Cabin sensor fusion at CES, combining Infrared and Radar

Cipia announced that it is set to demonstrate cutting-edge Infrared (IR) and Radar sensor fusion at CES 2025. For the first time, Cipia will showcase the seamless integration of radar and IR sensors, advancing in-cabin monitoring to new levels of precision and intelligence.

This fusion enhances the safety and driving experience by combining the complementary strengths of radar and IR technologies. By processing data collaboratively, the system offers insights into the entire cabin environment, including driver and passenger status, occupant positioning, and health indicators such as heart rate.

Cipia's sensor fusion demonstration highlights the synergy between radar and IR technologies, showcasing how these systems complement each other to enhance in-cabin sensing capabilities. Amplifying the individual strengths of each technology. The result is a smarter in-Cabin sensing solution, capable of addressing the increasing demands of global safety regulations, such as Euro NCAP's child presence detection requirements and evolving US NHTSA standards.

The technology fusion enables a robust monitoring system for today's vehicles while laying the groundwork for future advancements. By integrating heart rate detection and a comprehensive view of the entire in-cabin environment, Cipia will be able to equip OEMs with tools to address safety and health considerations in a cost-effective and scalable manner. Its radar-agnostic design aims to enable compatibility with a wide range of sensor configurations, simplifying adoption for automakers.

BAE Systems to develop high-bandwidth pressure sensor for extreme temperature environments

The U.S. Defense Advanced Research Projects Agency (DARPA) has awarded BAE Systems' FAST Labs research and development organization a $12 million contract as part of the High Operational Temperature Sensors (HOTS) program.

The HOTS program drives real-time data collection using high-temperature pressure sensors and circuitry

Many critical defense and industrial systems such as hypersonic aircraft and missiles, automotive, jet engine turbine, and oil-and-gas systems operate in extreme temperature conditions. Current sensors have limited performance as they cannot operate in temperatures higher than 225°C. Their capability is limited by the materials that comprise the sensors themselves, the accompanying circuitry (e.g., silicon-based transistor technology) and packaging.

The HOTS program will help develop microelectronic sensor technologies capable of high-bandwidth, high-dynamic-range sensing at extreme temperatures.

Under the terms of the contract, BAE Systems will design and build a new pressure sensor module – consisting of an integrated transducer and signal-conditioning microelectronics – able to operate with high performance at 800°C or 1,472°F.

Work on this program will take place at BAE Systems' facilities in Nashua, New Hampshire and Merrimack, New Hampshire. It will also include collaboration with subcontractors The Penn State Applied Research Laboratory, Purdue University and Kampanics, LLC, and supplier GE Aerospace's research center.

Seventh Lockheed Martin-Built GPS III Satellite Launches, Supporting Next-Gen Constellation Modernization and Rapid Launch Capability

This week the seventh Lockheed Martin [NYSE: LMT]-designed and -built Global Positioning System (GPS) III space vehicle, GPS III SV07, launched from Cape Canaveral Space Force Station, Florida, into orbit 12,550 miles above earth.

GPS III SV07 was launched on an accelerated timeline and joins the Space Force's ongoing modernization of the GPS constellation, following GPS III SV06 that launched in 2023.

The spacecraft, assembled at Lockheed Martin's Littleton, Colorado, facility, traveled across the country via ground transport to its launch site in Florida. This is different than the typical air transport for these missions, since its standard military aircraft ride was engaged in hurricane tracking and relief efforts.

The team seamlessly changed gears to a road shipment on short notice, which helped the mission maintain its rapid launch schedule in the face of shifting aircraft availability. The Space Force time from call-up to launch for SV07 was reduced to about three months to demonstrate operational agility for launch of critical national security missions.

Lockheed Martin's spacecraft team carefully mapped out the approximately 2,337-mile route, and carefully monitored weather models, as Hurricane Milton was on track to pass through Florida around the time of the spacecraft's arrival.

After an epic, six-day road trip, SV07 arrived at its final destination, avoiding severe weather and undergoing final checks and preparation for launch.

All GPS III space vehicles, including SV07, are equipped with M-code. M-Code is an advanced, new signal designed to improve anti-jamming and anti-spoofing, as well as increase secure access to military GPS signals for U.S. and allied armed forces. GPS III space vehicles provide up to eight times more anti-jamming power than GPS II space vehicles, and M-code has been in operational acceptance since 2020.

Wiliot Named Winner in 2024 Progressive Grocer Impact Awards for its Ambient IoT Food Safety Initiative

Wiliot, the Internet of Things pioneer whose Ambient Intelligence platform is enabling trillions of things to gain intelligence, announced that its Ambient IoT Food Safety Initiative has been recognized as a winner in the 2024 Progressive Grocer Impact Awards in the Ethical Sourcing / Supply Chain Transparency category. Past category winners include food industry giants such as Kroger, Whole Foods, and Giant Food.

The Progressive Grocer Impact Awards recognize the accomplishments of food retailers, suppliers, and solutions providers that are addressing issues such as food waste, greenhouse gas emissions, and responsible sourcing across the food chain.

The award emphasizes Wiliot's commitment to driving change in the food industry by leveraging a new technology paradigm – the ambient IoT – to reduce food waste and equip businesses with the real-time, item-level data they need to increase revenue, improve safety, achieve regulatory compliance, and reduce their carbon footprint.

As part of its Ambient IoT Food Safety Initiative, Wiliot partnered with food industry leaders iFoodDS and Trustwell to incorporate its ambient IoT data into both companies' food safety and compliance platforms. Now, in addition to tracking food products using traditional methods – QR codes, advance shipping notices, and electronic documentation – these platforms can also track products using Wiliot's ambient IoT data.

The initiative is also designed to help the country's largest food companies leverage ambient IoT to comply with the Food Safety & Modernization Act's Rule 204, which aims to enhance visibility within the supply chain to achieve better responses to foodborne illnesses, contamination, and other public health and safety issues. The industry has until January 2026 to comply with Rule 204.

Location-Based Services Market to grow by USD 296.3 billion (2024-2028)

The global location-based services (LBS) market size is estimated to grow by USD 296.3 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 32.77% during the forecast period. Rise in demand for personal and enterprise navigation services is driving market growth, with a trend towards growing popularity of location-based gaming. However, privacy and security issues in location-based services poses a challenge.

Location-based services (LBS) are on the rise, with mobile positioning at the forefront. Satellite-based GPS, E-OTD, OTDOA, and hybrid technologies like Wireless-assisted GNSS and A-GNSS are driving this trend. LBS is transforming industries, from smart city projects and 3D mapping applications to e-commerce and mobile apps. Artificial intelligence, real-time location tracking, and Bluetooth beacons are enhancing user experience. Autonomous vehicles, disaster information systems, and geolocation data are revolutionizing transportation and logistics. LBS is also making strides in healthcare, fleet management, local search, and IoT technology. Navigation and tracking services are more accurate than ever, thanks to 5G infrastructure and the integration of AR and VR technologies. Smartphones, social media, food delivery services, hardware, software, business intelligence, and transportation are all benefiting from the advancements in LBS.

The location-based gaming market is experiencing significant growth due to advancements in high-speed Internet connectivity and the integration of positioning technologies in smartphones. Games like Ingress, Pokemon Go, and Geocaching utilize GPS to create interactive map-based experiences, allowing players to navigate within the game using their current physical location. This shift in the gaming industry, driven by technologies such as cloud computing, 5G, and virtual reality (VR), has led to the emergence of new gaming models, including online multiplayer and free-roam gaming. These advancements enable players to engage in real-time, location-based experiences that go beyond traditional gaming products.

The Global RFID Market will reach US$ 46.07 billion by 2033

The Global RFID Market will reach US$ 46.07 billion by 2033, up from US$ 16.90 billion in 2024, with a CAGR of 11.79% between 2025 and 2033

The growing demand for efficient asset and inventory management across various industries is driving the RFID market; as a result, businesses using RFID technology see increased operational efficiency and lower expenses associated with human error. RFID technology adoption is driven by international markets' adherence to norms and rules in order to maintain compliance and trace systems.

The growing number of RFID applications in different industries is one of the major development factors propelling the market. Because of RFID's special capacity to automate procedures, increase visibility, and boost productivity, industries including retail, logistics, healthcare, manufacturing, and automotive are adopting the technology at an increasing rate.

Additionally, RFID is utilized in retail to control inventory, which improves the shopping experience while lowering theft and stockouts. It streamlines operations and lowers costs in supply chain management and logistics by enabling real-time tracking of commodities. RFID ensures safety and lowers human error in healthcare by being utilized for drug verification, equipment management, and patient tracking. RFID helps manufacturing with production line monitoring, quality assurance, and asset management. RFID use is growing as more sectors realize its benefits, which include improved accuracy, speed, and data insights. This is driving market expansion across a variety of end-use applications.

One major factor propelling the RFID market's growth is the development of the Internet of Things (IoT). The demand for smooth communication between physical things and digital systems is growing as IoT devices spread throughout sectors, and RFID technology is essential to this ecosystem. RFID makes it possible for things to be automatically identified and tracked in real time, which enables IoT devices to collect precise data without the need for human intervention.

More effective supply chain management, asset tracking, inventory control, and predictive maintenance are made possible by the combination of RFID and IoT. RFID tags on goods or assets, for instance, allow IoT sensors to exchange data in smart warehouses, improving inventory levels and lowering stockouts. RFID is becoming crucial for offering the real-time, data-driven capabilities needed for contemporary smart environments as IoT applications expand in industries including manufacturing, shipping, healthcare, and retail. The RFID industry is expanding as a result of the IoT and RFID working together to speed up the adoption of both technologies.

Since technological developments continuously improve the functionality, efficacy, and affordability of RFID systems, they are a major growth driver for the RFID industry. Smaller, stronger tags with greater reading ranges are examples of RFID hardware innovations that are expanding the technology's applicability. Developments in low-power RFID tags, especially passive ones, have decreased operating costs and increased battery life. Additionally, even in difficult environments, read accuracy, speed, and range have grown due to advancements in RFID readers and antennas.

The integration of RFID with other state-of-the-art technologies, such as cloud computing, the Internet of Things (IoT), and artificial intelligence (AI), has further expanded its potential by enabling real-time data analytics and intelligent decision-making. These technical developments increase RFID's scalability, dependability, and utility across a range of sectors, such as manufacturing, logistics, retail, and healthcare, which promotes its broad acceptance and helps the industry expand quickly.

In May 2023, In addition to ATID's handheld readers, which showcased its cutting-edge RFID technology, Invengo brought and displayed a range of new-generation goods at EuroShop, including UHF readers, tags, security gates, and antennas. Visitors were also shown RFID application cases in manufacturing, logistics, smart retail, and warehouses by Invengo. Open and honest communication with the guests had given everyone a fresh, insightful, and fulfilling experience.

RFID Market to Grow by USD 14.20 Billion (2024-2028)

The global radio frequency identification (RFID) market size is estimated to grow by USD 14.20 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 12.83% during the forecast period. Adoption of inventory management systems is driving market growth, with a trend towards growing use of rfid in data center management.

RFID technology plays a significant role in enhancing data center management and asset optimization. In data centers, RFID tags are integrated into servers, routers, switches, and other network equipment for automated management and reduced human error. Meanwhile, in the pharmaceutical industry, RFID smart packaging integrated into sealed caps and closures prevents product tampering, diversion, and counterfeiting, providing item-level intelligence and enhancing market growth. Companies like eAgile Inc. Offer RFID solutions, such as eSeal, for various industries to improve security and efficiency.

RFID market is experiencing significant growth with various applications in sectors like retail, logistics, healthcare, and manufacturing. The use of RFID technology for inventory management and tracking is on the rise. Markets like China and Europe are showing strong growth in RFID adoption. Companies are investing in RFID solutions for improved efficiency and accuracy. The technology is also being used for contactless payments and access control systems. The future of RFID looks promising with advancements in frequency bands, tag sizes, and reader capabilities. RFID is set to revolutionize industries with its ability to automate processes and enhance productivity.

Aeva Expands Collaboration with SICK to Precision Sensing for Factory Automation Applications

Aeva announced the expansion of its strategic collaboration with SICK, a leading global supplier of solutions for sensor-based industrial applications. SICK and Aeva are collaborating to incorporate Aeva’s FMCW technology into SICK’s portfolio of high accuracy contactless sensors for industrial applications, including for distance and motion control for a variety of factory automation applications.

SICK is a global provider of sensor-based solutions in industrial applications for factory, logistics and process automation technology with a high market presence globally. Under the collaboration, Aeva plans to provide its unique FMCW technology to SICK, including its Aeva CoreVision sensing module along with digital signal processing algorithms tuned for micrometer-precision detection at long standoff distances, as well as micrometer per second velocity measurements.

Using Aeva’s FMCW technology, SICK sensors will provide precise contactless measurements on a variety of surfaces at flexible short to long stand-off distances, regardless of its material, texture or color, and can be used across a wide variety of lighting conditions.

Smoke Detector Market worth $3.76 billion in 2029

The global smoke detectors market is expected to grow from USD 2.68 billion in 2024 to USD 3.76 billion in 2029, with a CAGR of approximately 7.0% according to a new report by MarketsandMarkets™.

The main reason for its growth is the increased awareness related to fire safety and enhanced regulations on residential, commercial, and industrial buildings. More frequent occurrences of fire result in upward demand from highly efficient smoke detection systems. This has been further enhanced with smart and IoT-enabled smoke detectors. The technological advancement improves the performance and functionality of the system. Smoke detection solutions are increasingly implemented by industries as building codes change and sustainability initiatives get more attention.

Wireless smoke detectors are anticipated to grow with the highest CAGR during the forecast period, as they can be installed easily and offer improved functionality. These devices do not have complex wiring and can be installed anywhere, so they are very appealing to homeowners and businesses seeking DIY solutions. With stringent regulations and increased fire risks awareness, the market is likely to increase the demand for wireless smoke detectors. Newer technologies on battery and sensors have also improved their reliability and efficiency, which adds to the product's market stronghold. Wireless smoke detectors are very well poised for healthy growth as the need for convenience and automation in fire safety solutions develops in smoke detectors.

Dual-sensor smoke detectors will hold a considerable share in the smoke detector market during the forecast period. Combining the power of both ionization and photoelectric sensors, these smoke detectors are superior to others in detecting a large percentage of fires. Ionization sensors are more effective on fast-burning fires, while photoelectric sensors are more effective on slow-burning smoldering fires. Using a combination of the two technologies, dual-sensor detectors will enhance fire safety in several different aspects, and consumer demand along with commercial application of advanced smoke detection, like the one discussed, will always continue to be in trend.

The commercial smoke detector market will likely experience a significant CAGR during the forecast period. This growth is mainly due to increasing urbanization and the rising need for better fire safety measures at workplaces. Stricter regulatory compliance and improving employee safety awareness are also driving this trend ahead. Besides, advances in smoke atmosphere detection technologies such as smart detectors with Internet of Things integration are making the system increasingly popular for commercial purposes and hence speeding up the expansion of the market in that space.

Precision Farming Market Skyrockets to $26.44 Billion by 2031

According to an exhaustive report by The Insight Partners, the Precision Farming Market is experiencing significant growth, driven by growing demand for agricultural robots. The market, valued at $9.87 billion in 2023, is expected to grow at a Compound Annual Growth Rate (CAGR) of 13.1% during 2023–2031.

Precision farming assists in decreasing the overall usage of pesticides, water, fertilizers, and herbicides. Besides this, it helps improve the productivity, profitability, quality, and sustainability of the yields. As it lessens labor inputs and production costs, the demand for precision farming is rising globally, fueling the precision farming market growth.

The growing adoption of smartphones, along with the easy accessibility of internet services across the globe, represents one of the major factors supporting the precision farming growth of the market. Also, the increasing dependency on low power wide area (LPWA), Wi-Fi services, and wireless sensor technologies for enhancing agricultural output is boosting the market growth. Moreover, the growing integration of the Internet of Things (IoT) in precision farming for increasing yield and evading the adverse effects of climate change is propelling the market's growth. Further, introducing numerous systems and devices, such as sensing and monitoring devices, farm management systems, and control and automation systems in precision farming, contributes to the growth of the market.

Location Analytics Tools Market to grow by USD 17.79 Billion from 2024-2028

The global location analytics tools market size is estimated to grow by USD 17.79 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 16.93% during the forecast period. Rise in awareness of location-enabled services is driving market growth, with a trend towards ai-based location analytics.

Location analytics tools are essential for businesses seeking to make data-driven decisions based on geographic, operational, and customer data. These tools help businesses address various challenges, such as resource allocation, customer behavior, efficiency improvements, digitalization, and decision-making. Geographic data, including spatial data and foot traffic patterns, plays a significant role in understanding customer experiences and advertising strategies. Businesses can leverage location analytics for asset management, risk mitigation, and real-time decision-making. Digitalization, IoT, AI, and machine learning are key trends driving the market. Geo privacy and data protection regulations are crucial considerations. Location analytics tools offer data visualization, thematic mapping, and spatial analysis, enabling businesses to gain valuable insights from their data. Deployment options include cloud and on-premises, with professional services and consulting available for deployment and integration. Applications span various industries, including retail, transportation, logistics, and healthcare. Key players in the market include Google LLC, offering reporting and visualization tools for indoor and outdoor analytics. Other trends include the integration of ETL, real-time location data from IoT systems, and personalized notifications for e-commerce applications.

Location analytics, a crucial component of Geographic Information Systems (GIS), assists businesses in interpreting and analyzing location data. This data is presented visually through software dashboards, offering enterprises transparency into their location-related operations. Real-time location analytics is increasingly important, enabling businesses to identify unforeseen circumstances or risks in their data and take prompt corrective measures. Various forms of location data visualization include war conflict zones, infrastructure usage, buildings in a city, and social media usage maps. By harnessing the power of location analytics, businesses can make informed decisions and optimize their processes effectively.

Light Detection and Ranging (LiDAR) Market to grow by USD 6.62 Billion from 2024-2028

The global light detection and ranging (LIDAR) market  size is estimated to grow by USD 6.62 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 28.82%  during the forecast period. Expanding application areas of LiDAR technology is driving market growth, with a trend towards development of lidar sensors based on continuous-wave frequency modulation (CWFM) technology. However, high cost of lidar sensors  poses a challenge.

The LiDAR market is experiencing significant growth due to increasing demand for 3D imagery and mapping applications. This technology, which uses laser scanner technology to create digital elevation models, is trending in various sectors including military and defense, civil engineering, city planning, environmental monitoring, and weather monitoring. Airborne and terrestrial LiDAR are popular choices for corridor mapping and topographical surveys. Innovations such as MEMS scanners and electromechanical systems are driving advancements in LiDAR technology. The technology is also being used in industries like oil and gas, energy, aerospace and defense, healthcare, construction, and smart infrastructure. Applications include collision avoidance systems, driver assistance systems, 4D technology, and 3D imaging. New sensors like PlusDrive and next-generation LiDAR are being developed for autonomous vehicles, unmanned aircraft systems, smart grids, and advanced geospatial solutions. Other emerging applications include urban planning, disaster response, infrastructure monitoring, robotics, aerial surveying, and biomass estimation. LiDAR technology is also used in geomatics, meteorological physics, archeology, geomorphology, coastal geospatial services, wildlife ecosystems, and seismology.

LiDAR (Light Detection and Ranging) market participants are focusing on enhancing the measurement technology of LiDAR sensors. Current LiDAR sensors employ a time-of-flight method to determine the time and distance taken by laser beams to hit targets and return. However, next-generation LiDAR sensors are under development, utilizing continuous-wave frequency-modulated (CWFM) technology. This advanced approach sends continuous laser beams towards targets, which are then split into two. One beam travels to the target and bounces back, while the other remains constant. The recombined beams' frequency shift upon interaction with the target provides more precise distance measurements. This innovation could potentially improve LiDAR sensors' accuracy and efficiency in various industries, such as autonomous vehicles and surveying.

The Remote Patient Monitoring Market expected to reach USD 77.90 Billion by 2029

The Remote Patient Monitoring Market was valued at USD 39.54 Billion in 2023, and is expected to reach USD 77.90 Billion by 2029, rising at a CAGR of 11.97%.

The global Remote Patient Monitoring (RPM) market is experiencing robust growth due to several key factors, such as the rising prevalence of chronic diseases, including diabetes, cardiovascular conditions, and respiratory disorders, coupled with an aging population, is driving demand for continuous health monitoring. Most patients are treated more for chronic diseases than other conditions, and a major portion of the healthcare expenditure goes toward treating and monitoring chronic diseases. Therefore, vital signs monitoring and remote patient monitoring devices will have a major impact on the future of the global healthcare market. Post-COVID-19 healthcare settings have invested in virtual care, online consultations, and home healthcare.

The adoption of Remote Patient Monitoring (RPM) technology has significantly increased, with devices now commonly used to monitor vital signs such as heart rate, blood pressure, and oxygen levels. The Centers for Medicare and Medicaid Services (CMS) introduced CPT codes for remote physiological monitoring. They expanded them in 2022 to include Remote Therapeutic Monitoring (RTM) for respiratory and musculoskeletal disorders, such as COPD and physical therapy. The pandemic accelerated RPM adoption, particularly by integrating IoT-enabled devices, which enhanced the technology's functionality and patient care. Combining AI with IoT (AIoT) further improved healthcare outcomes by enabling early detection of conditions like asymptomatic infections through advanced data analysis. As wireless data networks advance, the development of telehealth and remote monitoring platforms is expected to grow. There is also a rising demand for less invasive monitoring techniques, exemplified by products like Retia Medical's Argos monitor, which are user-friendly and compatible with existing systems. These technological advancements drive higher clinical demand and usage rates for patient monitors.

The adoption of Remote Patient Monitoring (RPM) technology has surged in recent years, with clinical devices increasingly being used to measure and monitor vital signs such as heart rate variability, blood pressure, and blood oxygen levels. The Centers for Medicare and Medicaid Services (CMS), which sets the standard of care for the U.S. healthcare system, introduced CPT codes for remote physiological monitoring over four years ago. In 2022, the CMS expanded its coverage by introducing CPT codes for Remote Therapeutic Monitoring (RTM), particularly for respiratory and musculoskeletal (MSK) disorders, including remote physical therapy and COPD inhaler tracking. Wireless data transmission network improvements are set to develop telehealth and remote monitoring platforms further. There is an increasing emphasis on non-invasive and less invasive monitoring techniques in various fields, such as fetal/neonatal and cardiac output monitoring. As patient monitors become more advanced and user-friendly, their usage rates are expected to rise, driving higher clinical demand. Virtual ICU care teams increasingly use RPM to integrate physiological parameters, such as vital signs and lab results, with electronic medical records (EMRs) to predict patient deterioration and guide treatment decisions.

Mobile Wallet and Payment Market Skyrockets to $71.28 Billion by 2031

According to a new comprehensive report from The Insight Partners, the global Mobile Wallet and Payment market is observing significant growth owing to the demand for multi-currency mobile wallets. Remitting money from one home country to another can be a time-consuming operation owing to the varied conversion rates, high remittance fees, and related taxes.

A multi-currency wallet allows businesses to pay, receive, and save various currencies in a single digital wallet rather than maintaining separate accounts for each international currency. The multi-currency digital wallet eases overseas payments and currency conversions. Moreover, the multi-currency wallet provides various guaranteed benefits for cross-border payments.

The report runs an in-depth analysis of market trends, key players, and future opportunities. In general, the mobile wallet and payment market comprises a vast array of components that are expected to register strength during the coming years.

The market, valued at $10.28 billion in 2023, is expected to grow at a Compound Annual Growth Rate (CAGR) of 27.4% during 2023–2031.

The global mobile wallet and payment market is observing substantial growth and is expected to maintain its upward trajectory in the foreseeable future. This growth can be accredited to numerous factors. Firstly, contactless payment adoption has risen dramatically across the globe, as it eliminates consumers' need to carry cash while making purchases. Digital payments, which include near-field communication (NFC) and QR code-based transactions, are becoming more popular. Consumers are highly preferring contactless payment solutions for speeding financial transactions. The demand for a quick, safe, and clean payment method, particularly in the post-pandemic era, has accelerated the use of contactless technology. This has transformed the checkout experience in both physical and digital stores, making faster and more convenient transactions.

Increasing Government Initiatives for Adoption of Mobile Wallet and Payment Solutions: Mobile wallet and payment solutions are critical for consumers and businesses, as they increase accessibility, improve security, reduce transactional costs, and make payments faster. Increasing technological advancements, rising consumer demand for two-factor authentication (2FA) security, and other factors are boosting the demand for mobile wallets and payment solutions. This also encourages government bodies to take initiatives to support the adoption of mobile wallets and payment solutions in order to secure their business from financial risks. For instance, the DigiDhan Mission, established under the Ministry of Electronics and Information Technology (MeitY) in India, aims to promote a cashless economy and provide a smooth digital payment experience for all citizens.

The rise in the e-commerce business and consumers' preference for online shopping has increased the adoption of mobile wallets and payment solutions for making quick payments. In May 2024, The Census Bureau of the Department of Commerce revealed that the estimate of the US retail e-commerce sales for the first quarter of 2024 was US$ 289.2 billion due to the seasonal variation adjustments and not price change. This represents a 2.1% (±0.7%) rise from the fourth quarter of 2023. Retail sales in the first quarter of 2024 stood at US$ 1,820.0 billion, with a fall of 0.1 % (±0.4%) from the fourth quarter of 2023. In the first quarter of 2024, e-commerce expanded by 8.6% (±1.1%) compared with the first quarter of 2023. Total retail sales were increased by 1.5% (±0.5%). In the first quarter of 2024, e-commerce sales made up 15.9% of the total sales.

Emergence of Real-Time Payments in Developing Nations: Efficient and secure ways to make transactions are increasing the demand for real-time payments (RTPs). These technologies have made payments more convenient, quick, and secure, as well as eliminating the need for cash or cheques. The acceptance of RTPs has enabled rapid payment between businesses and organizations. Users can initiate payments at a minimal or no cost using a mobile number or QR code, eliminating the necessity for bank account details. Countries, including Kenya, Mexico, Brazil, and Sweden, are increasingly demanding mobile wallets and payment solutions to conduct transactions in real-time. The usage of mobile devices has been one of the most significant advances in real-time payment systems. With the growth of smartphones and mobile payments, consumers can easily send and receive payments on the go, eliminating the need for a computer or physical card reader.

BLAZE Partners with Metrc on Retail ID Integration for Cannabis Retailers

BLAZE Solutions announced an enhanced integration with Metrc, a trusted provider of cannabis regulatory technology in the U.S. The new enhanced integration with Metrc Retail ID streamlines inventory intake for dispensaries by supporting pre-labeled products from participating producers and distributors, while intelligently handling overlapping labels.

Metrc Retail ID offers unique product labeling of individual units to increase supply chain visibility, improve brand awareness, and verify product quality.

Products labeled with Metrc Retail ID have a QR code that serves dual purposes. First, it streamlines inventory intake of products labeled with Metrc Retail ID and acts as a barcode for checkout in the BLAZE point-of-sale system. Secondly, customers can scan the QR code label to direct them to the brand-managed product page where they can view the product description, verified lab results, and images.

Cannabis brands provide the data for ingesting the unit IDs into the BLAZE Retail POS system to ensure they are properly tied to the sales batch. This information can then be ingested into BLAZE Retail® when receiving new batches and no additional labeling is needed to prepare them for retail sale. Additionally, this enhanced integration seamlessly handles the merging of packages from the same manufacturing lot. This full integration is a significant time-saver as dispensaries no longer need to commit time, money, and labor to re-label hundreds of products or manually intake them when receiving a duplicate manufacturing lot. It will save thousands of dollars in labeling expenses that are currently the retailer's responsibility.

Leuze introduces Power PinPoint LED technology in sensors for precise and reliable object detection

New optical sensors feature enhanced detection capabilities and faster commissioning with Power PinPoint LED technology.

The Power PinPoint LED from Leuze emits the maximum light power from a very small surface. The new light source technology can be used to finely position stacker cranes, among other things, using diffuse reflection sensors.

Aligning and commissioning sensors is often very time-consuming. The Power PinPoint LED from Leuze now makes this much quicker and easier. The sensors’ light-emitting diode emits its maximum light power from a very small surface. The Power PinPoint LED generates a light spot that maintains its size, shape and homogeneity over the sensor's entire working range enabling simple and fast commissioning.

This technology also increases process reliability through precise detection. The innovative light source is available for the first time with Leuze’s new 33C and 35C sensor series as well as the 25C, 3C and 5B diffuse sensor series.

Dynamsoft Unveils Breakthrough Barcode Scanning Speed of 0.02 Seconds

Dynamsoft has achieved a major milestone in barcode scanning performance. Leveraging cutting-edge computer vision algorithms, the Dynamsoft Barcode Reader SDK now delivers industry-leading speeds, scanning 62 barcodes per second—just 0.02 seconds per barcode.

Using a Lego-built simulated conveyor belt with 25 Code-93 barcodes spinning at high speed, our SDK-powered demo scanned and captured 626 barcode values in just 10 seconds—averaging 0.02 seconds per scan! That's 20% faster than the second-best in the market.

Using a Lego-built simulated conveyor belt with 25 Code-93 barcodes spinning at high speed, our SDK-powered demo scanned and captured 626 barcode values in just 10 seconds—averaging 0.02 seconds per scan! That's 20% faster than the second-best in the market.

Dynamsoft's success in reaching this performance milestone stems from continuous improvements in computer vision techniques and algorithms. The focus was not solely on speed—accuracy remains paramount. Dynamsoft's engineers have achieved close to 100% precision, even under adverse conditions such as poor lighting, glare, or damaged barcodes.

Retail IoT Applications Analysis Report 2024: Connections in Retail Set to Surpass 217 Million by 2028

A new report forecasts that the installed base of cellular POS terminals will grow at a CAGR of 7.8 percent between 2023 and 2028 to reach 200.3 million units at the end of the period, driven especially by growth in emerging markets. Digital signage solutions have found their way into nearly every possible vertical market and a wide variety of application areas.

The untapped market potential is nevertheless still vast and growth is showing no signs of slowing down. The report forecasts that global shipments of display screens for digital signage will grow from 21.2 million units in 2023 at a CAGR of 11.6 percent to reach 36.6 million units by 2028.

The retail industry is an important vertical for cellular IoT connectivity with 147.9 million cellular connections today and a total addressable market size of over 372 million POS terminals, ATMs, vending machines, parking meters, digital signs and fare collection devices worldwide. The report forecasts that the number of cellular IoT connections in the retail industry will grow at a compound annual growth rate (CAGR) of 10.0 percent to reach 217.7 million connections worldwide in 2028.

Shipments of cellular IoT devices will at the same time increase at a CAGR of 6.2 percent from 57.9 million units in 2023 to 78.2 million units in 2028. Cellular IoT technology enables devices such as POS terminals and ATMs to be used at new locations where fixed line connectivity is unavailable or impractical. The technology has a more transformational effect on markets such as vending and parking, where machine operators need to reorganise their operations in order to benefit from the availability of real-time information.

The installed base of connected vending machines in North America reached 2.3 million units at the end of 2023, whereas the corresponding figure for EU27+3 was 1.8 million units. The North American market has reached a state of maturity with a penetration rate of over 71.2 percent. Europe is meanwhile still in an early stage with a penetration rate of around 42.5 percent.

However, vending is also one of the fastest-growing segments for connectivity solutions in the retail industry, driven by demand for cashless payment and vending telemetry solutions. The North American market is projected to grow at a CAGR of 4.4 percent between 2023 and 2028, reaching 2.8 million connected vending machines at the end of the period. Similarly, the European market is forecasted to grow at a CAGR of 10.9 percent to reach 3.0 million connections by 2028.

The parking industry has been one of the earliest adopters of IoT communications technology. Today, approximately 67 percent of the world's 652,000 multi-space meters are connected primarily to cellular networks. This penetration rate will continue to increase steadily throughout the foreseeable future, as nearly all new multi-space meter deployments have connectivity as a requirement.

In contrast, connectivity has only recently become an optional feature in single space meters and today only 16 percent of the single-space meters in the world are connected. However, connected single-space meters have recently had a breakthrough in the North American market, where mixed deployments that comprise both single-space and multi-space meters are becoming increasingly common.

The share of single-space meters that incorporate connectivity is now growing rapidly and expected to reach 32 percent by 2028. Cellular connectivity has become a very popular option for POS terminals and was incorporated in 52 percent of the devices shipped in 2023. Wireless technology has an important role in facilitating the global adoption of electronic payments, as it enables the rollout of POS terminals to many new market segments as well as regions where the fixed line telecommunications infrastructure is less developed.

Cellular connectivity is very useful for applications such as temporary signs and in locations where access to fixed line communications is not available or costly to obtain. However, cellular is expected to remain a niche connectivity technology due to the higher costs associated with the technology, especially in bandwidth intensive applications.

River Associates Completes Third Platform Investment for 2024 with ID Label

River Associates Investments announced the acquisition of ID Label, Inc. ("ID Label" or the "Company"). Founded in 1994 and based in Lake Villa, IL, ID Label is an industry-leading manufacturer of variable information barcode labels and warehouse signage for 3PLs and multi-site manufacturers.

The Company provides design engineering, production, signage and nationwide installation services for warehousing, supply chain, manufacturing, electronics, calibration, medical, laboratory, lumber and library end markets. ID Label's solutions are used by thousands of global organizations to keep businesses moving with efficiency, speed and accuracy.

River Associates funded the transaction with equity from its eighth investment fund (River VIII, L.P.). Blake Lewis and Ken Trent, Principals, led the process for River Associates. Mesirow Financial, Inc. served as the exclusive sell-side banker for the transaction. Financing was provided by NXT Capital. River Associates was advised by Holland & Knight, LLP. ID Label was advised by Kilpatrick Townsend & Stockton, LLP.

Geofencing Market to Be Worth $12.7 Billion by 2031

The geofencing market is projected to reach $12.7 billion by 2031, at a CAGR of 23.6% during the forecast period 2024–2031.

Geofencing is a technology that establishes a virtual perimeter around a physical location using geographic coordinates. It enables automated responses or notifications when a device enters or exits this designated area. This method is widely utilized for various purposes, including targeted marketing, security monitoring, fleet management, and enhancing personalized user experiences.

The market's growth is driven by factors such as the rising demand for location-based services, the increasing use of spatial data and analytics tools, and the growing demand for geofencing solutions within the retail sector. However, concerns regarding privacy and data security restrain this growth.

Additionally, the growing adoption of geofencing solutions by small and medium-sized enterprises (SMEs) and the integration of these solutions with Internet of Things (IoT) devices are expected to offer market growth opportunities. However, misconceptions and a lack of understanding about geofencing solutions are some of the challenges hindering the market's growth.

The geofencing market is segmented by offering (solutions, services (deployment & integration services, support & maintenance services, consulting and advisory services, and API management and testing services), type (fixed geofencing, mobile geofencing), connectivity technology (active geofencing, passive geofencing), organization size (large enterprises, small & medium-sized enterprises), end-use industry (transportation & logistics, retail & consumer goods, healthcare, media and entertainment, BFSI, government, industrial manufacturing, and other end-use industries). The study also evaluates industry competitors and analyzes the market at the regional and country levels.

Among the Offerings studied in this report, the services segment is expected to register a higher CAGR during the forecast period. The rising demand for geofencing services that provide real-time location-based insights, an increasing need for comprehensive implementation and support services to optimize the performance of location-based applications, and a growing need for API management and testing services are expected to support the growth of this segment.