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Global Contactless Payment Card Issuance will go Above the 2 Billion Mark in 2020

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An additional 110 million contactless payment cards expected to be issued in 2020, when compared to pre-COVID-19 forecast expectations

According to Tech market advisory firm, ABI Research, COVID-19 is expected to have a profound effect on the payment cards market. Contactless is considered the more hygienic and safe way of making proximity payments, and this is being reinforced by ecosystem players who are shifting marketing messages from contactless transactions used to increase convenience levels toward safety and health. Globally, contactless adoption will increase between +6% to +8% when compared to pre-COVID-19 expectations, with the issuance levels forecast to grow by 14% YoY, accounting for more than 65% of all cards issued in 2020 .

“Although the overarching trend toward contactless was well in place prior, COVID-19 will further increase the speed of contactless adoption, particularly within countries and economies where cash remains king, and usage not only being encouraged by payment ecosystem players and suppliers but also by governments and health organizations including the WHO,” explains Phil Sealy, Research Director at ABI Research.

“The way people pay for things is rapidly evolving and changing. COVID-19 has driven a significant shift in consumer spending habits spurred by economic uncertainly and a push toward the purchase of mainly essential items. There is also a surge in e-commerce whereby consumers are becoming even more heavily reliant on online retail channels to avoid crowded places to limit social interactions,” Sealy points out.

However, with a significant strain placed on e-commerce, physical brick and mortar retail still has a major role to play and is essential in many instances. In most countries, retailers considered essential (e.g., supermarkets) remain open. They have put in place measures to help combat the spread of COVID-19 to shoppers and customers, including the enforcement of 2-meter distancing and placing protective screens at checkouts. They are also encouraging digital payments over cash and, where possible, completely contactless transactions.

Major payment networks, including Visa and Mastercard, are looking to aid in the pandemic by increasing contactless card spending limits. Many national and local authorities and governments, as well as merchants, are encouraging digital payments over cash, using the digital transaction method to limit contact with items and objects that are communal and used by multiple people—in this instance, point-of-sale terminals.

“COVID-19 is not only bringing contactless to the forefront of the digital payment experience, but also other next-generation payment card form factors. As consumers increasingly use and become more reliant on contactless, the question of how best to secure and limit fraud on increasing contactless transaction volumes and values will come into play,” Sealy says.

Biometric payment cards are well-positioned as a solution that offers a contactless payment card experience without limits. The use of multi-factor contactless transaction authentication will become a key theme post-COVID-19, extending security previously reserved for high computer-powered devices such as smartphones and mirroring the experience and security features onto the passive payment card form-factor.

“The message is clear that contactless payments have a critical role to play in the fight against COVID-19, from a hygiene, health, and safety perspective,” Sealy added.

This News has been Published in Partnership with PR Newswire

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Electric Vehicle (EV) Market Size to Reach USD 917.70 Billion in 2028, Says Reports and Data

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Electric Vehicle (EV) Market Size to Reach USD 917.70 Billion in 2028, Says Reports and Data

The global Electric Vehicle (EV) market size is expected to reach USD 917.70 Billion in 2028 and register a revenue CAGR of 20.6% over the forecast period, according to a latest report by Reports and Data. Supportive government policies and regulations, rising environmental concerns, decreasing prices of batteries, and advancements in charging technologies are some key factors expected to drive market revenue growth. Technological advancements have brought down overall cost of Electric Vehicles (EVs) and various battery producers are specializing in offering excessive-capacity batteries and lowering battery prices to develop cost-efficient and high performance electric mobility.

Governments are investing in charging infrastructures both through direct investments for public charging stations or by offering subsidies for private charging stations at houses and workplaces. In addition, offering attractive incentives and policies such as subsidy, lower registration fees, and free EV charging infrastructure at most charging stations to promote sales of EVs are factors expected to support market growth. Besides, exemption of road tax, purchase tax, and import duties, depending on the different subsidies, are encouraging automobile producers to increase EV production.

Automotive manufacturers are responding well to the ever-changing market trends. Manufacturing and capacity at a number EV production plants is expected to increase owing to presence of supportive government policies. Utilities and power companies are also increasing investment in development of EV charging infrastructure, which further supports market growth.

Some Key Highlights From the Report

  • Commercial vehicle segment revenue is expected to register significantly steady growth rate over the forecast period. Governments in countries around the world are focusing on electrification of commercial vehicles to reduce greenhouse gas emissions, which is expected to positively impact market revenue growth.
  • Plug-In Hybrid Electric Vehicle (PHEV) segment revenue is expected to expand significantly over the forecast period. PHEVs can be recharged from domestic electric power sources, use roughly 30–40 percent of petroleum compared to other ICE vehicles, and carbon emissions are substantially lower than regular vehicles.
  • The Electric Vehicle (EV) market in Asia Pacific is expected to register robust revenue CAGR over the forecast period. Rising disposable income, increasing air pollution rate in countries such as China, and India, and technological advancements in charging infrastructure are key factors expected to drive demand for EVs in this region. Also, rising investment in R&D by market players to develop and introduce more innovative electric charging technologies is expected to drive market growth.
  • Companies in global market report include Bayerische Motoren Werke Aktiengesellschaft, BYD Company Limited, Daimler AG, Energica Motor Company S.p.A, Ford Motor Company, General Motors Company, Nissan Motor Co., Ltd, Tesla, Inc., Toyota Motor Corporation, and Volkswagen AG.
  • In March 2021, Volvo announced the launch of its new C40 Rechargeable model. According to company, the vehicle is primarily designed as an electric car and its features are the same as the XC60 model.

For the purpose of this report, Reports and Data has segmented the Electric Vehicle (EV) market based on vehicle type, battery type, propulsion, and region:

  • Vehicle Type Outlook (Revenue, USD Billion; 2018-2028)
    • Passenger Cars
    • Commercial Vehicles
    • Two-wheelers
  • Battery Type Outlook (Revenue, USD Billion; 2018-2028)
    • Lithium-Ion
    • Lead-Acid
    • Nickel-Metal Hydride
    • Sodium-Ion
    • Others
  • Propulsion Outlook (Revenue, USD Billion; 2018-2028)
    • Battery Electric Vehicle (BEV)
    • Plug-In Hybrid Electric Vehicle (PHEV)
    • Hybrid Electric Vehicle (HEV)
  • Regional Outlook (Revenue, USD Billion; 2018-2028)
    • North America
      • U.S.
      • Canada
      • Mexico
    • Europe
      • Germany
      • UK
      • France
      • Italy
      • Spain
      • Sweden
      • BENELUX
      • Rest of Europe
    • Asia Pacific
      • China
      • India
      • Japan
      • South Korea
      • Rest of APAC
    • Latin America
      • Brazil
      • Rest of LATAM
    • MEA
      • Saudi Arabia
      • UAE
      • South Africa
      • Israel
      • Rest of MEA

Similar Research reports by Reports and Data of Automotive and Transportation Industry:

The global car battery market size is expected to reach USD 92.60 Billion in 2028 and register a CAGR of 5.2% during the forecast period. Increasing demand for pollution-free hybrid and Electric Vehicles (EVs), reduction in crude oil reserves, drop in battery prices, and increasing environmental concerns are some of the key factors driving market revenue growth.

The global mountain bike market size was USD 3.51 Billion in 2020 and is expected to register a revenue CAGR of 5.3% during the forecast period. Major factors driving market revenue growth are rising focus on development of more durable and sturdy bikes, increasing popularity of bike sports for recreational as well as for competitive purposes, and rising awareness regarding personal health and fitness.

The global Automotive Hydrogen Sensors market is forecasted to grow at a rate of 3.8% from USD 133.8 million in 2019 to USD 176.9 million in 2027. The automotive hydrogen sensors are growing due to a surge in the commercial market. The sensors are used in various certifying bodies to check the level of emissions or to check the leakage in the vehicles.

The automotive head-up display market is projected to grow at a rate of 27.4% in terms of value, from USD 1,389.7 Million in 2019 to reach USD 9,881.1 Million by 2027.  The market for automotive head-up display (HUD) is experiencing high demand attributed to factors such as rising incidences of road accidents, growing cognizance about vehicle and passenger safety, rising demand for autonomous vehicles, growing demand for advanced 3D AR head-up display, and growing investment on luxury cars, among others.

The global Automotive Center Console market is forecasted to grow at a rate of 3.8% from USD 37.94 billion in 2019 to USD 50.15 billion in 2027. An increase in the demand for automobiles and the development of by-wire technology is expected to drive the demand for the industry in the coming years.

About Reports and Data

RND is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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Metaverse Game "DeHorizon" Closes $8.5M Pre-A Round Led By Sfermion, Dragonfly Capital and Everest Ventures Group

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Metaverse Game "DeHorizon" Closes .5M Pre-A Round Led By Sfermion, Dragonfly Capital and Everest Ventures Group

DeHorizon Foundation, the team behind DeHorizon, today announced that DeHorizon has completed an $8.5 million Pre-A round led by Sfermion, Dragonfly Capital and Everest Ventures Group for upcoming blockchain-based MMO/RPG DeVerse. The new funding will help them to accelerate DeVerse’s development and grow the team.

“GameFi presents an opportunity to bring the next billion users into the crypto economy,” said Bo Feng, managing partner at Dragonfly Capital. “We are excited to back DeHorizon to drive GameFi adoption across the world.”

DeHorizon Foundation is dedicated to creating DeHorizon a community-powered Game Metaverse, making “Play for fun and to Earn” come into reality. Complying with the principle of empowering all players to control their own assets, privacy information, and power of governance, DeHorizon Metaverse will be managed by the decentralized autonomous community, which is DAO. That is the future of DeHorizon Metaverse players are heading to.

DeVerse is the first blockchain-based MMO/RPG on DeHorizon, a barbarous version of high fantasy action-adventure game. In DeVerse, players will explore the open world of epic battles, minting NFT monsters, mining resources, embarking on heroic quests, taming wild creatures, and much more.

Recently, DeHorizon launched the first-ever interoperable, editable and evolvable ERC-721 NFT “DeMeta Pass ID”(DeMeta) to solve the problem of NFTs’ connection and further development. Building up the interopability of NFTs may be an important catalyst to contribute Metaverse forward to open, connection networks. Within less than 30 minutes, their first batch of ERC-721 DeMeta NFT were immediately claimed out. An advancing NFT experiment has been witnessed, freely open to everyone.

The Pre-A round was led by Sfermion, Dragonfly Capital and Everest Ventures Group with Animoca Brands, Yield Guild Games, Mechanism Capital, Gumi Cryptos Capital, Infinity Venture Crypto, Akatsuki Inc, BitScale, Republic Realm, Youbi Capital, Bybit, The Lao, LD Capital, Momentum 6, Dialectic, Stable Node, Kardia Ventures, Tess Ventures, Meteorite Labs, Taureon, Ruby Capital, Jsquare, Zonff Partners, Pluto Capital, WaYi, Formless Capital, Crasolum, Lucid Blue Ventures, Puzzle Ventures, Maeve Ventures, Blockdream Ventures.

They have backed the Silicon Valley startup with $8.5 million. This round represents an investment in DeHorizon Metaverse and its flagship blockchain game “DeVerse”. Their Angel round was supported by Bo Feng, Darren Lau, Santigo Santos, Miss Bitcoin, MASA.

Currently, one secret project designed by community is said to launch on DeHorizon Metaverse later. In the future, DeHorizon will develop and incubate more various blockchain-based games and make more partnerships with great artists, award-winning celebrities and much more to make their Metaverse come to life.

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Locus Robotics Opens European Headquarters in Amsterdam

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Locus Robotics Opens European Headquarters in Amsterdam

Locus Robotics, the leader in autonomous mobile robots (AMR) for fulfillment warehouses and distribution centers, today announced the opening of its European headquarters in Amsterdam. The new facility will support Locus’s existing EU and UK customer base and develop new opportunities within the fast-growing European warehouse fulfillment and distribution segments.

“Our decision to expand our presence in the European market was a logical step in our business growth strategy,” said Rick Faulk, CEO of Locus Robotics. “Choosing Amsterdam gives us a central location that is ideal for serving our customer base, as well as giving us access to a vibrant and diverse talent pool to recruit from.” 

With warehouse fulfillment volumes increasing globally, access to labor has become a critical issue. Companies are turning to automation to meet the exploding demands while keeping labor recruiting, training, and retention costs down. In fact, Locus recently passed the half-billion picking milestone and LocusBots are now picking nearly 2 million items every day.

“Our Amsterdam office will allow us the flexibility to support our European clients in real time as the needs of order fulfillment continue to grow around the continent,” said Denis Niezgoda, Vice President, Europe. “We are ideally positioned to scale and support the growing demand.”

The new location will also assemble and service the company’s award-winning autonomous mobile robot solution for the European market, providing faster deployment, management, and support services.

Locus Robotics will be celebrating the office opening with a press event at the new location, located at Toetsenbordweg 26, 1033 MZ Amsterdam, Netherlands on Wednesday October 6th. The event will include guided tours of the new facility and access to Locus senior management. Locus will also be exhibiting at Deliver, an e-commerce and logistics trade show being held on 6-7 October in Amsterdam. This event brings together key industry thought leaders and brands, and features speakers from Locus in breakout sessions and panel presentations.

About Locus Robotics

Locus Robotics’ revolutionary, multi-bot solution incorporates powerful and intelligent autonomous mobile robots that operate collaboratively with human workers to dramatically improve piece-handling productivity 2 – 3x, with less labor compared to traditional piece handling systems. This award-winning solution helps retailers, 3PLs, and specialty warehouses efficiently meet and exceed the increasingly complex and demanding requirements of fulfillment environments, easily integrating into existing warehouse infrastructures without disrupting workflows, instantly transforming productivity without transforming the warehouse. In 2021 Locus Robotics made the list of Inc. 500, ranking number 428.

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