The U.S. electric bus market value is predicted to surge from an estimated $490.6 million in 2021 to $1,924.8 million by 2026, demonstrating a CAGR of 31.4% from 2021 to 2026. According to the market research report published by P&S Intelligence. The major factors fueling the expansion of the market are the implementation of strict regulatory measures for reducing emissions, provision of federal funding for augmenting the deployment of zero-emission buses, declining battery costs, improving operational efficiencies, and various long-term economic benefits of electric buses.
The increasing concerns of environmental agencies and local governments over the deteriorating environment, owing to the rising urban vehicular emissions, are resulting in the enactment of strict emission control regulations in the U.S. Presently, diesel-powered buses are a crucial part of the country’s public transportation system, but they are major emitters of toxic greenhouse gases. Thus, the enactment of strict environmental regulations is fueling the adoption of zero- and low-emission transport systems, which is, in turn, propelling the growth of the U.S. electric bus market.
Key Findings of U.S. Electric Bus Market Report
- The plunging costs of lithium-ion (Li-ion) batteries are also driving the progress of the market. As per industry experts, the average cost of Li-ion battery cells for large orders fell from nearly $1,000 per kilowatt-hour (kWh) in 2010 to around $310/kWh in 2019.
- The battery electric bus (BEB) category held the largest share, under the vehicle type segment, in the past, as BEBs are the cleanest of all such automobiles.
- The inductive charging category, within the charging type segment, is predicted to demonstrate the fastest growth in the coming years. This is credited to the ability of this technology to rapidly charge electric buses.
- The COVID-19 pandemic caused huge disruptions in the U.S. electric bus market, as the lockdowns imposed by the federal and state governments affected the import of electronic and electrical components from China and hampered automotive production.
- The launch of projects and programs such as the American Fuel Cell Bus (AFCB) Project and the National Fuel Cell Bus Program (NFCBP) by the U.S. government is a major trend in the industry.
- The market is consolidated in nature, and the players are actively focusing on geographical expansions and partnerships to strengthen their position.
BYD and Levo Mobility, which is a joint venture of Stonepeak Partners L.P., Evolve Transition Infrastructure LP, and Nuvve Holding Corp., announced a partnership in May 2021. Under it, Levo will buy up to 5,000 medium- and heavy-duty, vehicle-to-grid (V2G)-enabled battery electric vehicles (BEVs) over a period of five years.
Some of the major players operating in the U.S. electric bus market are Proterra Inc., BYD Motors Inc., NFI Group Inc., GreenPower Motor Company Inc., Blue Bird Corporation, GILLIG LLC, Daimler AG, REV Group Inc., The Lion Electric Co., and AB Volvo.
U.S. Electric Bus Market Size Segmentation Analysis
U.S. Electric Bus Market Based on Vehicle Type
- Battery Electric Bus (BEB)
- Plug-in Hybrid Electric Bus (PHEB)
- Hybrid Electric Bus (HEB)
U.S. Electric Bus Market Based on Length
- >40 Feet
- <40 Feet
U.S. Electric Bus Market Based on Battery
- Lithium-Ion (Li-ion)
- Nickel-Metal Hydride (NiMH)
U.S. Electric Bus Market Based on Charging Type
UserTesting Introduces New Capabilities ForTesting Facebook Metaverse and Virtual Reality Experiences
New product release also enables organizations to gather fast feedback from anyone, more tightly align testing to overarching business goals, and optimize usage of the UserTesting platform
UserTesting (NYSE: USER), a leader in video-based human insight, today released new templates for its Human Insight Platform that enable companies to obtain fast, opt-in feedback from any metaverse or virtual reality (VR) user, including those using Meta (formerly Facebook, Inc.). See what the templates can do.
“The metaverse is an entirely new product experience for companies and users alike,” said Andy MacMillan, CEO for UserTesting. “Our new templates can help any organization get rapid, opt-in feedback from real users on how their products and services show up in Meta’s Horizon Worlds (or any metaverse), what those users value in those experiences, and how those users prefer and expect to transact in this emerging environment. With that critical information, companies — including traditional physical goods companies like shoe and apparel brands that are just starting to expand into the metaverse — can more quickly and easily create the best, most immersive user experiences.”
Inspiration and pre-built testing templates for gathering feedback for more use cases, from more people
Designed by research experts, UserTesting templates provide out-of-the-box sample questions that can be used as-is or customized to fit an organization’s exact testing requirements.
UserTesting’s new metaverse and VR templates enable companies building games, products, and other metaverse/VR experiences to obtain rapid user feedback in the form of Customer Experience Narratives (CxNs)™ — video recordings of actual users that have opted in to share their perspectives and experiences as they execute a pre-built series of tasks and instructions online. These CxNs let organizations firsthand:
- understand what target audiences want and expect from a VR app/metaverse experience;
- witness a target audience’s first impressions and reactions to the environments, characters, and other app elements featured in early VR/metaverse concepts;
- see and hear what target audiences really think while they engage with a live VR app/metaverse; and
- find out if the store listing they created for their VR app/metaverse resonates with target audiences.
With the addition of these new VR/metaverse templates, UserTesting’s Human Insight Platform now features more than 100 pre-built testing templates organizations can use to inspire and jumpstart their testing efforts.
UserTesting also today released several new and expanded features designed to help organizations more easily reach new audiences and develop new use cases, and better optimize their use of the UserTesting platform.
Ability to tap into important insights from new audiences
UserTesting’s Invite Network feature lets organizations capture perspectives and experiences from their own network of contacts by simply sharing with them a link to a user test. This new product release streamlines the Invite Network feedback process even more with a seamless recorder that enables organizations to quickly and easily solicit input from anyone — e.g., employees, customers/clients, prospects, partners — on any browser, without installing any software. As a result, organizations can, for instance, more easily conduct live intercept testing and gather fast feedback by adding a custom link to internal communication channels, emails, chatbots, and in-app messaging.
“It’s hard to prioritize quantitative insights because the process is time-consuming. But everyone at our organization still needs to know what users want and feel,” said B. Sanborn, design research leader/principal at DLR Group. “UserTesting has enabled us to incorporate client feedback into our process. Invite Network saves us much time, and now, with the addition of the seamless recorder, we can reach even more stakeholders — making it so easy for them to participate [in our tests] and give their perspectives.”
New template filtering and categorization
UserTesting added powerful new categorization capabilities to its in-platform Template Gallery that enable users to filter templates according to criteria like test methodology, project phase (i.e., discover needs, validate/refine ideas, engage audience, optimize website/conversions, etc.), job role, or asset type, so they can better align testing efforts to broader organizational business goals.
Improved usage monitoring and optimization
A new Usage and History dashboard helps customers on UserTesting’s new Flex model pricing plan better track, monitor, and manage UserTesting usage across their organizations via increased visibility into factors like overall testing capacity and usage by team member or workspace.
“The innovations we’re announcing today simplify and expedite how different departments across an organization can gather rich customer insights while making it easier for them to reach new testing audiences,” said Kaj van de Loo, CTO at UserTesting. “All of it is immensely important in today’s world of continually changing customer attitudes and behaviors because only companies that deeply understand how their customers really think and feel can deliver the products, apps, and services that win customers and retain their loyalty.”
UserTesting (NYSE: USER) has fundamentally changed the way organizations get insights from customers with fast, opt-in feedback and experience capture technology. The UserTesting Human Insight Platform taps into our global network of real people and generates video-based Customer Experience Narratives (CxNs)™, so anyone in an organization can directly ask questions, hear what users say, see what they mean, and understand what it’s actually like to be a customer. Unlike approaches that track user behavior then try to infer what that behavior means, UserTesting eliminates the guesswork and brings customer experience data to life with human insight. UserTesting has more than 2,100 customers, including more than half of the world’s top 100 most valuable brands according to Forbes. UserTesting is headquartered in San Francisco, Calif. To learn more, visit www.usertesting.com.
Bengaluru based SaaS Startup Mason Aims To Empower 1,00,000+ Online Businesses With No-Code Technology By 2022
The future is full of innovation potential with no-code and low-code systems. And it is not surprising to see how such no-code tech has emerged as the mainstream to help SMBs & entrepreneurs with an astonishing ability to scale quickly- in a digital omnichannel landscape.
Especially in eCommerce, where business teams are rapidly embracing digital transformation, no-code SaaS platforms have helped thousands of entrepreneurs to succeed without investing in heavy technology & teams.
And 2021 has been a transformative year in this regard. With this vision to make technology more accessible – and more human– for every eCommerce business, co-founders Barada Sahu and Kausambi Manjita started Mason and accelerated the no-code journey for its global community of eCommerce merchants. Apart from big brands, Mason has helped numerous SMBs to run successful online stores without having to spend thousands of dollars on multiple toolkits and skillsets.
Mason is a headless eCommerce toolkit that powers rapid growth for online brands & marketplaces through no-code storefront automation. The platform is trusted by 10,000+ Shopify first as well as other global e-commerce brands and teams across India, the USA, Canada, Europe, and Australia. Notable early adopters for Mason include Skechers, Dunzo, Jack’s Surfboards, Myntra, Swiggy, and more.
The high-growth startup has raised seed funding from Accel Partners (Subrata Mitra), Lightspeed (Dev Khare), Venture Highway (Neeraj Arora) and is currently building a team of passionate makers and future leaders in the eCommerce technology space.
- No-code Automations for High Performing Storefront Experiences
Delivering real-time shopping experiences is pivotal to online success. With this in mind, the team launched no-code ‘automations’ that power store owners to auto-update storefront changes that are in sync with the backend business updates. Some of these powerful automations are now powering more than 200 million orders worldwide every month.
- ModeMagic Partner Program: More Global than Ever
In the month of July, Mason launched the ModeMagic Partner Program – an initiative for retailers & merchants in India & across the globe to collaborate with the industry’s leading e-commerce agencies experts & technologies. Through this program, Mason collaborated with 50+ global teams to empower DTC brands to run and grow their eCommerce operations.
- Launch of The Maker’s List- An Exclusive Club For Founders & Makers
Mason also works hand in glove with a worldwide community of brand makers to inspire, educate and empower DTC brands to run high-performance storefronts. As a part of the community, Mason launched its first newsletter – Unlock Commerce, that shares actionable insights on the eCommerce industry to help eCommerce teams to run their stores efficiently.
- Notable Award Wins: High Quality, Loved By Global Community Of Makers
2021 has been a year of major achievements driven by deep relationships developed with the eCommerce community. In the process, Kausambi and her team were awarded as –
- #1 Product of the day and the Product of the week on Product Hunt
- Winner of Golden Globee Awards in Startup of the Year Category
- NASCOMM Emerge 50 Winner
- Winner of the ‘The Best App User Interface’ award by Shopify Commerce
- Finalist of Women in IT Awards (Asia) in Innovator of the Year category
- Top 4 finalists of the coveted Golden Kitty awards from Product Hunt makers community
Mason was also featured in Forbes, Economic Times, Makerpad, CXO Outlook, and many more notable reads.
No-Code eCommerce tech – the future’s bright
Within just 1.5 years of launch, Mason has been able to empower 10,000+ global retailers to automate their storefronts with it’s no-code headless technology and has seen a whopping 300% increase in their productivity. It envisions powering 100,000+ brands globally by 2022 to run and grow their online business.
“No-code technology will bring the next wave of e-commerce, enabling entrepreneurs to go digital omnichannel, single-handedly. The day’s not far when every SMB has Amazon-like storefront infrastructure at their fingertips.”
– Kausambi Manjita, Co-Founder & CEO at Mason
Leading Capital Markets Protocol Folks Finance Closes $3 Million Seed Funding Round
The round was led by Borderless Capital with participation from Jump Crypto, Parafi Capital, Coinbase Ventures, Genesis Capital, the Algorand Foundation, and more
Folks Finance, the leading capital markets protocol for borrowing and lending built on the top of Algorand blockchain, announces the closing of its $3M Seed Funding Round, led by Borderless Capital with participation from Jump Crypto, ParaFi Capital, Coinbase Ventures, OKX Blockdream Ventures, Genesis Capital, the Algorand Foundation and many others.
Folks Finance is the result of extensive research and engineering conducted by Blockchain Italia, a blockchain software house strongly focused on Algorand. The company dedicated its best minds to the project, designing a disruptive economic lending model and introducing unique features such as staking of rewards, safety margins for cryptocurrency pairs, and an innovative liquidity provision system.
The Investor Group
Round leader, Borderless Capital is the largest Algorand ecosystem investor and is committed to provide a higher multiple of the invested capital into the Folks.Finance lending pools.
David Garcia, who is CEO and Managing Partner at Borderless Capital as well as an angel investor personally supporting Folks Finance, said:
“We are proud to join Folks Finance as the lead investor in this round. Folks.Finance is a key pillar of the Algorand DeFi ecosystem. The team has done an amazing job developing their protocol and building a network of highly strategic partners, setting them up to hit the ground running at launch. The debut of Folks Finance will enable unprecedented amounts of composability among Algorand DeFi dApps and decentralized communities, empowering projects to actively participate in more inclusive and fair capital markets on-chain ”
Anjan Vinod, VP at ParaFi Capital, an alternative investment firm focused on blockchain and decentralized finance markets, also commented:
“As large DeFi users, we see money markets as critical infrastructure for any DeFi ecosystem. We believe Folks Finance is well-positioned to unlock liquidity for a variety of Algorand native assets and become a composable building block. From our first conversation with the Folks Finance team, we noticed how talented Benedetto and team were in designing and building DeFi applications. We are excited to support Folks’ vision in building a scalable money market.”
Folks Finance’s list of seed investors also includes leading venture capital firms such as Coinbase Ventures, OKX Blockdream Ventures, Genesis Capital, Youbi Capital, Algorand Foundation, Meld Ventures, Eterna Capital, 0x Ventures, Polymorphic Capital, Valhalla Capital, ZBS Capital, and Gains Associates. Crypto veteran angel investors supporting Folks Finance include David Garcia, CEO of Borderless Capital, and Calvin Liu, former Strategy Lead at Compound.
Several of the leading DeFi and Financial protocols of the Algorand Ecosystem also joined the seed round including Algomint, Tinyman, StakerDAO, MyAlgo, Venue One, xBacked, Prismatic, among others.
Folks Finance is currently in its smart contract security verification phase, after successfully completing a protocol design review, and early this year is planning the official launch for Folks Finance on the Algorand TestNet, along with the release of Folksy Guys, the official NFT collection dedicated to the Folks Finance community. The team will officially publish the research paper for the protocol economic model soon, and it is already working to establish the milestones of version 2.0. Intending to outline community-centric governance, the ASA-token FOLKS will offer its holders participation in protocol decision-making power, an incentive and staking strategy, and much more.
Of the seed round fundraising, Folks Finance CEO Benedetto Biondi commented:
“We are delighted and excited about the outstanding portfolio that we have been onboarding on this investment round. The team’s excellent work has resulted in an innovative design that will make Folks Finance a mainstay in capital markets protocols. We are proud to be supported by the Algorand ecosystem, making us feel part of a strong developing and expanding family. 2022 will be the year of Algorand, and the imminent protocol launch will achieve an important milestone. We are enthusiastic about showing the outputs of a year of hard work behind the scenes.”
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