Leo Wang, CEO of Duotech, Addresses Impact of AI on Fintech Industry During Chinese New Year Speech


Leo Wang, CEO of Duotech, delivered a captivating speech during the Chinese New Year festivities, shedding light on the transformative power of artificial intelligence (AI) in the fintech industry. Wang’s address resonated strongly with the young professional audience, who make up nearly 70% of Duotech’s staff strength.

Wang began his speech by highlighting the significant impact AI has had on the fintech industry over the last few years. Citing recent statistics from industry reports, he noted that AI adoption in finance has surged, with an estimated 89% of financial services firms globally using AI in some form.

“The fintech landscape has undergone a profound transformation fuelled by AI technologies,” Wang stated. “From algorithmic trading to fraud detection, AI has revolutionised traditional financial practices, enhancing efficiency, accuracy, and security.”

Wang referenced another study which revealed that AI-powered solutions have contributed to a 20% reduction in costs and a 30% increase in revenue for financial institutions. “These statistics underscore the tangible benefits AI brings to the table, driving innovation and profitability in the fintech sector,” Wang added.

In his speech, Wang encouraged the younger generation to embrace AI technologies, emphasising the immense opportunities for growth and innovation in the evolving fintech landscape. He urged them to stay up to date on industry advancements and leverage AI skills to drive positive change within their organisations.

Furthermore, Wang showcased Duotech’s cutting-edge AI solutions tailored for the finance industry, designed to enhance trading strategies, bolster cybersecurity, and streamline compliance processes.

Wang concluded his speech by reaffirming Duotech’s commitment to driving innovation in the fintech industry through AI-powered solutions. “At Duotech, we’re dedicated to leveraging AI to revolutionise finance and empower the younger generation to shape the future of our industry,” he said.


2024 Reputation Strategy & Brand Resilience Summit (San Diego, CA, United States – January 17-18, 2024)


The “2024 Reputation Strategy & Brand Resilience Summit” conference has been added to ResearchAndMarkets.com’s offering.

Whether you’re a small local company dealing with negative online reviews or a large movie studio or company hiring a crisis management firm to deal with increased scrutiny from the media, online, and the general public, the stakes are higher than ever to be perceived in a favorable light. A negative perception of your company or brand, can have disastrous consequences for your company’s stability and revenue.

The truth is most people still do believe what they read and 97% of potential customers will have searched online for reviews of your business before they decide to either work with you or make a purchase. In today’s world, creating an external and internal reputation management & brand resilience plan is essential for long-term success.

So where do you begin in implementing a company-wide watertight reputation management & brand resilience plan? One that protects and can even help turn a potentially negative situation into a positive one? What partners do you need to work with?

Join 120+ PR/Marketing & Communications professionals for Industry’s ONLY ‘TED-Style’ Reputation & Brand Resilience Summit. Hear from 25+ cross-industry speakers discussing their front-line experiences of planning, contingency & recovery while managing internal and public communications in often challenging, fast-moving situations. Learn the do’s and don’ts and receive invaluable actionable takeaway strategies for future success.

  • 25+ Industry-led Speakers
  • 120+ Senior Participants
  • 12+ Networking Hours

Previous Summit Themes Included:

  • Building a new corporate culture in living rooms and home offices
  • Black Out Tuesday: Were companies practicing advocacy or performative activism?
  • Telehealth: Lessons for Reputation
  • Brand resilience anytime anywhere
  • Communicating through crisis
  • The importance of staff trust when navigating an external crisis
  • Measuring social media strategy in the new normal
  • Hands-on education during COVID: Reinventing your marketing strategy for the new norm
  • Innovation and brand resilience coming out of the pandemic
  • Why the business card isn’t dead…just yet
  • Using media intelligence to combat disinformation

For more information about this conference visit https://www.researchandmarkets.com/r/u6ztaf


Solar Panel Recycling Market to Surpass US$ 1,049.4 Million by 2030 – CoherentMI


CoherentMI published a report, titledSolar Panel Recycling Market is estimated to value at US$ 298 Million in the year 2023 and is anticipated to reach US$ 1,049.4 Million by 2030, at a CAGR of 19.7% during forecast period 2023-2030.

The solar panel recycling market is driven by the increasing adoption of renewable energy sources, particularly solar energy, across the globe. As the demand for solar panels continues to rise, there is a growing need for proper disposal and recycling of end-of-life solar panels. This is primarily due to the presence of toxic materials such as lead, cadmium, and silicon in solar panels, which require proper treatment to prevent harm to the environment and human health.

Furthermore, stringent government regulations and policies aimed at reducing electronic waste and promoting sustainable energy solutions are further driving the market growth. These policies mandate manufacturers to establish recycling infrastructure and take responsibility for the end-of-life management of solar panels, thereby boosting the adoption of solar panel recycling services.

Market Trends:

Increasing investments in solar panel recycling infrastructure: With the growing awareness about the environmental impact of improperly disposed solar panels, there is an increasing trend of investments in solar panel recycling infrastructure. Various government agencies and private organizations are investing in specialized recycling facilities equipped with advanced technologies to efficiently recycle solar panels and recover valuable materials from them.

Technological advancements in solar panel recycling: The market is witnessing significant advancements in recycling technologies for solar panels. These advancements aim to improve the efficiency and effectiveness of the recycling process, enabling the recovery of a higher percentage of valuable materials from end-of-life solar panels. Innovations such as robotic dismantling, chemical recycling, and thermal treatment are expected to drive the growth of the solar panel recycling market in the coming years.

Recent development:

  • In January 2021, RecyclePV introduced the DolarCYCLE modular PV recycling saystem, which recycles various types of solar panels in an eco-friendly manner.
  • In September 2020, Reclaim PV Recycling has announced the opening of a new solar panel recycling factory in France.

Market Opportunities in the Solar Panel Recycling Industry:

Increasing Adoption of Solar Energy

As the world strives towards achieving a cleaner and sustainable energy future, the adoption of solar energy has witnessed tremendous growth. This surge in solar panel installations has subsequently led to an increased need for solar panel recycling. The market opportunity lies in effectively recycling and reusing the materials used in solar panels to reduce waste and minimize the environmental impact of the solar industry.

Government Initiatives and Regulations

Governments across the globe are implementing stringent regulations and policies to promote sustainable energy practices. Several countries have mandated the proper disposal and recycling of solar panels. This regulatory push creates a significant market opportunity for solar panel recycling companies to meet the growing demand for responsible end-of-life management of solar panels.

Market Key Takeaways in the Solar Panel Recycling Industry:

  • Solar Panel Recycling Market is anticipated to witness a CAGR of 19.7% during the forecast period 2023-2030, owing to the increasing adoption of solar energy and government initiatives promoting sustainable energy practices.
  • On the basis of Panel Type, the Monocrystalline Silicon Solar Panel segment is expected to hold a dominant position. This can be attributed to the higher efficiency and longevity of monocrystalline silicon solar panels compared to other panel types.
  • On the basis of Resin Process, the Thermal method is anticipated to dominate the market. The thermal process provides effective recycling solutions by separating the glass, metal, and silicon elements of the solar panels, ensuring maximum resource recovery.
  • In terms of Shelf Life, the Early Loss segment is expected to dominate. This segment includes solar panels that have experienced premature failure due to manufacturing defects or improper installation, presenting a significant opportunity for recyclers to salvage valuable materials.
  • In the End-User segment, the Residential sector is expected to have a dominant position. This is due to the increasing adoption of solar panels by homeowners for residential energy generation, leading to a higher volume of end-of-life panels that need recycling.
  • From a regional perspective, Asia Pacific is projected to dominate the solar panel recycling market. Rapid industrialization, government support, and a large installed base of solar panels in countries like China and India contribute to the market’s growth in this region.
  • Key players operating in the solar panel recycling market include Reclaim PV Recycling, Silcontel, Rinovasol, RecyclePV, ECS Refining, REMA PV Systems, Dongfas Group, Rinovasol Group, Envaris, Recycle Solar Technologies Limited, Experia Solution, CCL Recycling, PV Cycle, First Solar, Aurora Solar Recycling, Solarcycle Recycling, and PV Recycling. These companies are actively involved in the collection, processing, and recycling of solar panels, contributing to the sustainability of the solar energy industry.

Read complete market research report, “Solar Panel Recycling Market, By Panel Type, By Process, By Shelf Life, By End User, By Region, and other Segment Forecast 2023-2030“, Published by CoherentMI.

Solar Panel Recycling Market Segmentation:

  • By Panel Type
    • Monocrystalline Silicon Solar Panels
    • Polycrystalline Silicon Solar Panels
    • Thin Film Solar Panels
    • Others (Cadmium Telluride (CdTe), Copper Indium Gallium Selenide (CIGS))
  • By Process
    • Thermal
    • Mechanical
    • Laser
    • Chemical
    • Others (Shot blasting, magnetic, gravity)
  • By Shelf Life
    • Early Loss
    • Normal Loss
    • Degradation Loss
    • Others (slow loss, rapid loss)
  • By End User
    • Residential
    • Commercial & Industrial
    • Utility
  • By Region
    • North America
      • U.S.
      • Canada
    • Latin America
      • Brazil
      • Mexico
      • Rest of Latin America
    • Europe
      • Germany
      • U.K.
      • Spain
      • France
      • Italy
      • Russia
      • Rest of Europe
    • Asia Pacific
      • China
      • India
      • Japan
      • Australia
      • South Korea
      • Rest of Asia Pacific
    • Middle East & Africa
      • South Africa
      • GCC Countries
      • Rest of Middle East & Africa

In conclusion, the solar panel recycling market is poised for significant growth due to the increasing adoption of solar energy and government initiatives promoting sustainability. The dominant segments include Monocrystalline Silicon Solar Panels, Thermal Resin Process, Early Loss Shelf Life, and the Residential End-User sector. The Asia Pacific region leads the market, and key players are actively involved in recycling activities to ensure a sustainable future for the solar energy industry.


1.  What factors are impeding the growth of the Solar Panel Recycling Market?

2.  What are the primary drivers fueling the growth of the Solar Panel Recycling Market?

3.  Which segment dominates as the leading component in the Solar Panel Recycling Market?

4.  Who are the key players actively participating in the Solar Panel Recycling Market?

5.  Which region is expected to take the lead in the Solar Panel Recycling Market?

6.  What is the projected CAGR of the Solar Panel Recycling Market?

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Global Oil Free Air Compressor Market is Segmented By Type (Oil-free Rotary Screw Compressors, Oil-free Reciprocating Compressors, Oil-free Centrifugal Compressors, Others), By End-use Industry (Power Generation, Food & Beverage, Pharmaceuticals, Home Appliances, Textile, Oil & Gas, Others, By Power Rating (0-50 HP, 51-250 HP, 251-500 HP, Above 500 HP), By Pressure (0-20 Bar, 21-100 Bar, 101-350 Bar, Above 350 Bar), By Geography (North AmericaLatin AmericaEuropeAsia PacificMiddle East & Africa). The report offers the value (in USD Billion) for the above-mentioned segments.

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$4.6 Billion Steam Trap Market – Global Forecast to 2028


The “Global Steam Trap Market by Mechanical (Ball Float, Inverted Bucket), Thermodynamic, Thermostatic (Balanced Pressure, Bimetallic), Application (Drip, Process, Tracing), Body Material (Steel, Iron), End-User Industry and Region – Forecast to 2028” report has been added to ResearchAndMarkets.com’s offering.

The steam trap market is expected to grow from USD 3.8 billion in 2023 to USD 4.6 billion by 2028, at a CAGR of 3.8% during the forecast period.

The steam trap market is experiencing growth driven by several key factors, including the increasing demand for energy-efficient steam systems and the growing adoption of automation in steam systems. These trends are contributing to the market’s expansion, and the report provides valuable insights for market leaders and new entrants.

The report offers information on the approximate revenues for the steam trap market and related segments, assisting stakeholders in understanding the competitive landscape and formulating effective market strategies. It also provides a deeper understanding of the market dynamics, including key drivers, restraints, opportunities, and challenges.

The Asia Pacific region is expected to witness the highest compound annual growth rate (CAGR) in the steam trap market during the forecast period. This growth is attributed to robust industrialization and infrastructure development across various sectors in the region. As industries expand and modernize, the importance of optimizing energy utilization and condensate control through steam traps becomes evident.

Additionally, governments and industries in the Asia Pacific region are increasingly emphasizing sustainability and energy efficiency. Steam traps offer practical solutions to achieve these goals by preventing steam wastage and enhancing energy consumption optimization. This aligns with the region’s focus on sustainability and regulatory objectives.

Key players in the steam trap market include industry leaders such as Spirax-Sarco Engineering plc, Emerson Electric Co., Schlumberger Limited, Thermax Limited, Velan Inc., Watts Water Technologies, Inc., Armstrong International Inc., TLV CO., LTD., Forbes Marshall, and Xylem Inc., among others. These companies play a significant role in driving innovation and competitiveness in the steam trap market.

The thermostatic steam trap market is expected to grow at the highest CAGR during the forecast period

The thermostatic steam trap market is expected to grow at the highest CAGR during the forecast period. Thermostatic steam traps offer a sophisticated solution for optimizing steam management by efficiently modulating steam flow based on temperature changes.

This dynamic capability ensures energy conservation and prevents unnecessary steam wastage, aligning seamlessly with industries’ intensified focus on operational efficiency and resource utilization. Moreover, their reliable performance and relatively low maintenance requirements make them attractive for industries seeking efficient and cost-effective steam management solutions.

Steel body material segment is expected to dominate the steam trap market throughout the forecast period

The steel body material segment is expected to account for the largest size of the steam trap market throughout the forecast period. Steel’s exceptional durability and corrosion resistance make it an ideal choice for steam trap construction, particularly in industries with harsh operating conditions. This longevity ensures prolonged performance and reduces the need for frequent replacements, resulting in cost savings and enhanced operational reliability.

Furthermore, steel’s inherent strength allows for the design of robust steam traps capable of withstanding high pressure and temperature variations, further bolstering their suitability for demanding industrial applications. Moreover, steel’s excellent heat conduction properties facilitate efficient condensate removal, contributing to enhanced steam trap performance and overall operational efficiency.

Premium Insights

  • Growing Adoption of Steam Traps in Food & Beverages and Pharmaceuticals Industries to Provide Opportunities for Players in Steam Trap Market
  • Mechanical Segment to Hold Largest Market Share of Steam Trap Market in 2023
  • Tracing Application Segment to Hold Largest Market Share During Forecast Period
  • Steel Segment to Register Highest CAGR During 2023-2028
  • Oil & Gas Segment to Hold Largest Share of Steam Trap Market in 2023
  • India to be Fastest-Growing Steam Trap Market During Forecast Period

Market Dynamics


  • Increasing Demand for Energy-Efficient Steam Systems
  • Growing Adoption of Automation in Steam Systems
  • Need to Enhance Manufacturing Efficiency and Reduce Greenhouse Gas Emissions


  • Need for Substantial Upfront Investment
  • Need for Periodic Maintenance and Complexities Associated with Operations of Steam Trap Systems


  • Rapid Economic Growth in Emerging Economies
  • Integration of Steam Traps with IoT Sensors


  • Lack of Awareness About Benefits of Steam Trap Systems

Value Chain Analysis

  • Ecosystem Mapping
  • Trends/Disruptions Impacting Customer Business

Technology Analysis

  • Predictive Maintenance
  • Digitalization and Artificial Intelligence

Company Profiles

Key Players

  • Spirax-Sarco Engineering plc
  • Emerson Electric Co.
  • Thermax Limited
  • Schlumberger Limited
  • Velan Inc.
  • Watts Water Technologies, Inc.
  • Armstrong International Inc.
  • Tlv Co., Ltd.
  • Forbes Marshall
  • Xylem

Other Players

  • Watson Mcdaniel
  • Miyawaki Inc.
  • Hawa Engineers Ltd.
  • Ari-Armaturen
  • Venn Co., Ltd.
  • Ayvaz
  • Neta Metal Works
  • Thermomegatech, Inc.
  • Tunstall
  • Thermal Energy International Inc.
  • Barnes & Jones, LLC
  • Esco Group of Companies
  • United Brass Works
  • Colton Industries
  • Richards Industrials

For more information about this report visit https://www.researchandmarkets.com/r/lsdze2


Marintec China 2023 Concluded with Record-Breaking Success


Marintec China, the leading event of the maritime industry, concluded its highly anticipated 2023 edition on a high note. The exhibition took place at the Shanghai New International Expo Centre from 5 to 8 December and attracted maritime powerhouses, pioneers, innovators, and enthusiasts from around the world. Marintec China 2023 reinforced its position as the premier platform in Asia, with 80,518 professionals, representing a remarkable 12% growth from the last edition, Marintec China 2023 drew professionals from more than 100 countries and regions, with over 2,000 exhibiting companies, including 15 national and regional pavilions. Attendees participated in over 500 concurrent events and signed over 100 contracts during the four-day event. The knowledge and insights gained from the event will shape the future of the maritime industry.

Market Updates at Marintec China
The shipbuilding market took centre stage at Marintec China 2023, as industry players showcased their state-of-the-art vessels and shipbuilding technologies. According to the latest statistics from Clarksons Research, 1,547 new ship orders were placed worldwide in the first ten months of the year, totalling 20,060,400 corrected gross tons (CGT), and 4,359 ships totalling 122.58 million CGT were on the global shipyards’ order book. In terms of the new ship price, Clarksons Research’s new ship price index reached a new high of 176 at the end of October, the highest since 2009, with only an 8% difference from the historical high set in August 2008. In conclusion, the global newbuilding market is expected to continue its positive trend in the coming years.

Decarbonisation was the key theme of the 2023 edition, highlighting the maritime industry’s dedication to reducing greenhouse gas emissions. The event showcased various solutions, such as green design, green manufacturing, and the expansion of low-carbon and zero-carbon ship types. Significant breakthroughs have been made in developing methanol and ammonia fuel engines, and orders have been placed for LNG dual-fuel, methanol dual-fuel, and ammonia fuel ships. In parallel, major advancements have been made in the field of ship auxiliary equipment, particularly in the development of low-carbon products. These include marine fuel filling systems for LNG, LPG, methanol, and ammonia, ship exhaust gas desulphurisation and decarbonisation systems, carbon neutrality systems for methanol and other fuels, and zero-carbon fuel development systems. Marintec China is committed to driving a greener future for the industry.

Alternative fuels were also in the spotlight at Marintec China 2023, as the industry explores viable options to reduce reliance on traditional fossil fuels. According to Clarksons Research statistics, 55.8% of new orders signed in 2022 were for alternative fuel ships, and in the first 10 months of this year there were 346 new orders for alternative fuel ships totalling 30.3 million DWT, accounting for 35% of all new ship orders. Orders for methanol fuel ships increased significantly reaching 120 ships totalling 11.47 million DWT. The event provided a platform for stakeholders to discuss the benefits, challenges, and potential applications of these emerging fuel sources, paving the way for a more sustainable and diversified maritime energy landscape. The cruise market was another important element of Marintec China 2023. With the global cruise market showing a rapid recovery with a positive trend, cruise lines have been resuming voyages one after another. Moreover, international cruise giants have announced their return to China in 2024 to reboot home port operations. On 4 November, China’s first large cruise ship built, Adora Magic City, was named and delivered. It will officially begin operating on New Year’s Day 2024, starting its international routes with Shanghai as its home port. At Marintec China, exhibitors showcased the latest developments and trends in this dynamic sector, with innovative cruise ship designs, on-board technologies, and passenger experience enhancements.

Special Events at Marintec China
In addition to the exhibition, Marintec China 2023 featured several other special events to complement the bustling show floor. The Senior Maritime Forum, a series of high-level discussions and panel sessions under the theme “Innovation, Intelligence, Low-Carbon”, brought together industry leaders, policymakers, and experts to address critical challenges and explore opportunities in the maritime sector. The inaugural Marintec Roundtable, held on 4 December at the Kerry Hotel Pudong, gathered key stakeholders in the maritime sector for a closed-door dialogue on the challenges of building a more resilient future. Marintec Innovation OnStage, highlighting breakthrough technologies and disruptive innovations that are shaping the future of the maritime industry. Marintec TV, broadcasted live from the exhibition floor, with VIP interviews with CEOs and industry experts, ensuring attendees could stay connected and engaged.

The Leading Maritime Barometer 
Marintec China 2023 provided attendees with a wealth of knowledge, valuable connections, and insights to take back to their respective organisations. “We are thrilled with the overwhelming success of Marintec China 2023,” said Ms Stella Fung, General Manager of Maritime, Informa Markets. “The record-breaking attendance and quality of exhibitors and attendees reflect the importance of this event in the global maritime industry. Marintec China will continue to be the catalyst for driving growth, fostering innovation and promoting sustainability within the industry.”

As one of the largest maritime events and the leading maritime barometer, Marintec China plays a pivotal role in advancing the maritime industry by providing a platform for knowledge exchange, technological advancement, and business opportunities. Planning is already underway for Marintec China 2025, with the Organiser looking forward to building on the success of this year’s edition. Marintec China 2025 will return to Shanghai from 2 to 5 December. We hope to see you all in two years’ time.

Marintec China is organised and managed by Informa Markets and Shanghai Society of Naval Architects & Marine Engineers (SSNAME).

Informa Markets
Informa Markets creates platforms for industries and specialist markets to trade, innovate and grow. Our portfolio is comprised of more than 550 international B2B events and brands in markets including Healthcare & Pharmaceuticals, Infrastructure, Construction & Real Estate, Fashion & Apparel, Hospitality, Food & Beverage, and Health & Nutrition, among others. We provide customers and partners around the globe with opportunities to engage, experience and do business through face-to-face exhibitions, specialist digital content and actionable data solutions. As the world’s leading exhibitions organiser, we bring a diverse range of specialist markets to life, unlocking opportunities and helping them to thrive 365 days of the year. For more information, please visit www.informamarkets.com.

Shanghai Society of Naval Architects and Marine Engineers (SSNAME)
Shanghai Society of Naval Architects and Marine Engineers (SSNAME) was founded on 25 February 1951 and has more than 5000 individual members and over 60 group members at the moment. The professional range of SSNAME covers academic and technical exchanging, exhibiting, popularization of science, editing, and publishing as well as scientific consulting in the field of naval architect and marine engineering.

SSNAME has established friendly cooperation with 14 overseas maritime engineering societies to promote bilateral and multilateral exchanges and cooperation. It’s one of the Sponsors of Pan Asian Association of Maritime Engineering Society (PAAMES), and elected as the first president. SSNAME is also a member of the World Maritime Technology Congress and hosted WMTC’18 which was held in December 2018.

As it always adheres to innovation and development, SSNAOE has achieved great success in academic exchange, scientific popularization, editing and publishing, international intercourse and organization optimization over years of endeavor. It was awarded “National Advanced Civil Organization” by the Ministry of Civil Affairs, “Advanced Collective under China Association for Science and Technology” by the Ministry of Personnel and China Association for Science and Technology. In recent years, it has been awarded the title of “5A-level Social Organization” in the evaluation of the standard construction of social organizations organized by Shanghai Civil Affairs Bureau and Shanghai Association Administration Bureau.

After 70 years of development, SSNAME has now won a high reputation and shown an evident academic influence in the shipbuilding and offshore engineering industry.


Huawei and MDES Signed MoU to Establish Thailand as a Regional AI Hub


Huawei Cloud Thailand, in collaboration with Thailand’s Ministry of Digital Economy and Society (MDES), today hosted the Huawei Cloud AI Summit Thailand 2023. The event brought together hundreds of government representatives, industry experts, local customers, partners, and Chinese enterprises to discuss Thailand’s AI development and digital transformation. During the summit, Huawei Cloud and MDES signed a memorandum of understanding (MoU) on digital development with the aim to provide support towards AI development, industry applications, ecosystem building, and talent cultivation. This partnership will help Thailand establish itself as a regional AI hub through digitalization.

In his keynote address, H.E. Mr. Prasert Jantararuangtong,Minister of Digital Economy and Society of Thailand, explained that MDES aims to drive forward Cloud-First policies as the new growth engine of Thailand and believes that cloud and AI are the future of the country: “As a representative from MDES, I would like to thank Huawei Thailand for taking the leading role within the private sector in setting up this important event and bringing the global experience of Huawei and its partners to Thailand, as well as for helping foster the country’s cloud and AI digital ecosystems. Through cooperation with private sector partners like Huawei, we will continue to promote Thailand as an AI hub of the region. MDES will fully support the country to accelerate digital transformation, cultivate talents, achieve economic sustainability, and enhance the overall quality of life for Thai people.”

Sarana Boonbaichaiyapruck, Clinical Professor and Chairman of National Broadcasting and Telecommunications Commission (NBTC), stated that the event witnessed the fast development of cloud and AI technology. As a Thai regulator, NBTC will take could and AI into consideration for policy making to digitalize the Thai society and economy.

In Thailand, for Thailand: Establishing Thailand as a Regional AI Hub

AI stands as a driving force behind the current wave of global technological advancements and industry transformations, creating a profound impact on human society and reshaping industries. By recognizing AI’s transformative potential, Thailand remains committed to enhancing its global competitiveness by strengthening its AI capabilities and becoming a regional AI hub. Huawei Cloud is proud to support this vision through its ‘In Thailand, for Thailand‘ commitment.

David Li, CEO of Huawei Thailand, highlighted Huawei Cloud’s commitment to enabling cloud and AI development in Thailand: “Huawei Cloud is firmly dedicated to its ‘In Thailand, for Thailand‘ commitments and has personally witnessed, contributed to, and benefitted from Thailand’s digitalization over the past two decades. Thailand now finds itself at a critical juncture in its digital transformation journey. Recognizing this, Huawei Cloud remains steadfast in its commitment to invest in the local cloud ecosystem and its capabilities. By building a robust digital foundation in Thailand and constructing AI infrastructure for the government and enterprises, Huawei Cloud is empowering the nation to harness the transformative power of AI. This will in turn lead to the proliferation of AI applications across industries, ultimately benefiting Thai people and driving the country’s digital progress.”

At the summit, Huawei Cloud served as a bridge between Chinese and Thai enterprises with the aim of empowering Thailand with advanced AI technologies, applications, and expertise from China. By leveraging its extensive localization experiences in over 170 countries and regions, Huawei Cloud is ready to provide valuable insights into global and regional industries and now stands as the preferred partner for Thai enterprises seeking global expansion and for Chinese enterprises venturing into the Thai market.

Huawei Cloud: A Better Cloud for Thailand

With its cutting-edge technologies and industry expertise, Huawei Cloud aims to build the cloud foundation for an intelligent future, providing better options for each customer. At the summit, Huawei Cloud showcased a range of cutting-edge AI solutions and models specifically tailored to Thailand’s needs, including models for the Thai language, meteorology, government, and AI solutions for the finance and retail sectors.

Huawei Cloud’s government model brings intelligence to government processes and city affairs, from perception and understanding to handling and decision-making. Citizen’s requests can be assigned automatically and managed round the clock, enabling governments to deliver high-quality services without concerns about human resource shortages.

The Thai language model, trained on Thai corpus and converged with Huawei’s industry knowledge accumulated over three decades, continuously optimizes by learning massive amounts of the Thai language data. This breakthrough removes language barriers to accessing foundation models, allowing Thailand to transition from an AI user to an AI creator.

In meteorology, Huawei Cloud collaborated with the Thai Meteorological Department to develop its Pangu weather model for Thailand in an endeavor to deepen the digitization of Thailand’s agricultural and tourism sectors. The model has already surpassed current state-of-the-art numerical weather prediction (NWP) methods with prediction speeds several orders of magnitude faster. In the past, predicting the trajectory of a typhoon for the next 10 days took 5 hours. Now, the Pangu weather model can do the same calculations in just 10 seconds.

Talent is indispensable for AI transformation, but their acquisition requires concerted efforts from both the public and private sectors. At the summit, Huawei Cloud, MDES, the Digital Economy Promotion Agency (depa), universities such as Chulalongkorn University, AI associations, enterprises, and partners came together to launch the Cloud & AI Community Thailand. This collaborative initiative aims to nurture AI technology development and cooperation, ultimately elevating Thailand’s presence in the global AI landscape.

Equipped with a robust portfolio of innovative AI technologies, extensive industry expertise, and exceptional customer service, Huawei Cloud is poised to support Thailand in its quest to become a prominent AI hub in the region. Through sustained investments in the local ecosystem and industries, Huawei Cloud demonstrates its unwavering commitment to fostering the high-quality growth of Thailand’s digital economy.




After 3 years of work, an international partnership has realised a precision weeding tool proving that herbicide free agriculture is at hand.

The partnership formed by research centres, universities, private companies and farmers’ organisations from SpainGermanyDenmarkFrancePolandBelgiumItaly and the Netherlands, by WeLASER project funded by the EU within its “Horizon 2020” programme, has completed the first stage of the development of the a precision weeding prototype tool that allows progress in eradicating the use of herbicides, improving the productivity and competitiveness of crops, thus eliminating health risks and the adverse environmental effects of chemicals.

The prototype includes an autonomous vehicle that drives through the crop and is equipped with an advanced detection system based on artificial intelligence (AI) through image acquisition and data processing, which allows it to distinguish and localize the centre of growth of the weed to be eradicated. Once targeted through the scanner, it directs the high-powered fibre laser source to that meristem. This fast modulation concept allows precise energy pulses to be directed for highly efficient weed treatment. Data management are managed by a cloud computing architecture and the system includes the IoT technology.

Although this project is currently concluding this first phase of development, further work will be needed, for example, to reduce the time required to work in the field, to make the prototype easier to handle and connect, and to reduce production costs in order to achieve a marketable model on the market.

A project of maximum cooperation between entities from all over Europe

WeLASER is the result of the cooperation of 10 partners from 8 EU member states. On the Spanish side, the Centro de Automática y Robótica (CAR) belonging to the Consejo Superior de Investigaciones Científicas (CSIC) and coordinator of the project and the Coordinadora de Organizaciones de Agricultores y Ganaderos (COAG); on the German side, the Laser Zentrum Hannover e.V. (LZH) and the company Futonics Laser GmbH (FUT); from Denmark, the Department of Plant and Environmental Sciences of the University of Copenhagen (CPH); from France, the company AgreenCulture (AGC); from Italy, the Interdepartmental Centre for Industrial Agri-Food Research of the University of Bologna (UNIBO); from Poland, the Instytut Ekologii Terenów Uprzemysłowionych (Institute of Ecology of Industrial Areas) (IETU) in Katowice; from Belgium, the Department of Agricultural Economics of the Faculty of Biosciences Engineering of the University of Ghent; and from the Netherlands (UGENT), Van Den Borne Projecten BV, the innovation department of the Van Den Borne Aardappelen (VDBP) farm located in Reusel.

For Pablo González de Santos, from the CSIC’s Centro de Automática y Robótica, coordinator of the project, “WeLASER has been a perfect collaboration between leading organisations in each of their fields of work, which has made it possible to have the latest technologies and advances necessary for the development of such a cutting-edge and necessary project”.

Beyond the development of the prototype, this project has resulted in the development of different innovations with multiple applications such as a high-power fibre laser source for the control of adventitious weeds through precise energy pulses, with an innovative pump and cooling concept that minimises the energy demand of the laser for the weeding process; an improved power supply system for autonomous robotic platforms; an intelligent navigation manager for autonomous robots applicable to precision farming that enables navigation throughout the farm, not limited exclusively to the crop field and integrates different Artificial Intelligence (AI) methodologies to identify various types of crops, including wide and narrow crops; and an AI-based laser weed control implement that enables a wide working range for individualised plant treatment in crops of different types, while complying with all safety regulations required for working with laser technology.

Ensuring food production on a safe planet

Faced with an increasingly growing population in an environment of climate change like the one we live in, humanity´s great challenge is how to guarantee food production without harming the environment or the health of the population with increasingly efficient and less polluting production systems.

In Europe alone, around 130 million tonnes of synthetic herbicides are used each year (not counting other chemicals), substances which, when applied, do not discriminate between beneficial plants and insects in the soil that are not their target and which, moreover, can have effects on the health of animals and humans.

In addition, weeds are developing resistance, which means that existing herbicides are becoming less and less effective.

For González de Santos, “The WeLASER consortium is motivated to adopt smarter farming methods and build more sustainable food production systems while preserving the environment and health. WeLASER opens up a reliable and safe option and offers breakthroughs to solve a global problem”.


KSA Welcomes ILO, World Bank, Other Partners to Global Labor Market Conference


The Kingdom of Saudi Arabia is welcoming the International Labor Organization, the World Bank, United Nations Saudi Arabia, and other partners for the inauguration of the Global Labor Market Conference (GLMC) in Riyadh on December 13-14, as leading institutions search for comprehensive strategies to deal with the advent of AI, shifting demographics, and dramatic changes to the nature of work in the world.

H.E. Ahmed bin Sulaiman Al-Rajhii, Minister of Human Resources and Social Development (MHRSD) offered context for GLMC, saying its inauguration comes at a time when global labor markets are facing exceptional dynamics and anticipated changes. He continued that a concerted international effort is required to address these factors in a way that secures a better future for all.

He added the conference participants hail from among the most important and influential actors in the global labor market, who will come together with the aim of creating a common vision for success and prosperity. He expressed his confidence that this conference marks the beginning of this vision, which will be developed and implemented on the ground.

The GLMC will convene leaders from multinational organizations, government ministries, business, academia, technology, and labor representatives from more than 40 countries. The platform is designed to help identify common challenges, forecast future uncertainties, and build the mechanisms of cooperation necessary to safeguard international labor markets.

Dignitaries in attendance will include International Labor Organization Director-General Gilbert F. Houngbo, former Italian Prime Minister Matteo Renzi, Saudi Minister of Communications & Information Technology H.E. Abdullah Al-Swaha, Saudi Minister of Economy and Planning H.E.  Faisal Bin Alibrahim, Saudi Minister of Tourism H.E. Ahmed Al-Khateeb, and Saudi Human Rights Commission President H.E. Dr. Hala bint Mazyad Al-Tuwaijri.

The conference will entail over 40 sessions addressing critical questions including, “Has the Labor Contract Run its Course?” and “The Next Frontier for AI & People.” Sessions also will tackle skills and productivity gaps, regulation and deregulation, and best approaches to spur work for all. Dozens of new international agreements are expected to be announced over the course of the two-day conference.


Despite moderate global growth, DEKRA predicts historic sales record for 2023


“So far, 2023 has been an excellent year for DEKRA,” said Stan Zurkiewicz, DEKRA CEO and Chairman of the Management Board in his preliminary review of the year. “We are very optimistic that we will hit a revenue of over four billion euros in the full year. That is a historic first for DEKRA, and we are very excited.” All service divisions and regions are expected to significantly exceed their 2022 sales performance, with some achieving strong double-digit growth.

Beyond excellent business figures, DEKRA reports that its strategy 2025 is on track and bearing fruits. The company has successfully introduced training, advisory, testing, validation and inspection services in its strategic growth areas Artificial Intelligence, Cyber Security, Sustainability, and Future Mobility, establishing itself as strategic partner across the entire value chain of these domains.

While the overall TIC (testing, inspection, and certification) industry is expected to grow by around 5% annually, DEKRA forecasts two-digit growth in its future business areas over the next years. The company is well positioned to exponentially capitalize on this upward trajectory and aims to set itself apart from its competitors.

Artificial Intelligence (AI): DEKRA supports governments and committees in developing regulatory frameworks

One year after the market introduction of ChatGPT, the potential of generative AI to transform productivity, save lives, reduce inequalities, and more, is evident. “Artificial Intelligence is a true gamechanger. But it cannot be above the game, it has to play by some rules. Without them, this powerful technology may endanger our economies, our health, and even peace,” explained DEKRA’s CEO.

DEKRA, based on its deep understanding of technology and data as well as decades of experience in assurance processes, has been invited to advise various governments and committees in the development of such regulatory frameworks. Notably, the company provided guidance to the German Federal Ministry for Digital and Transport concerning the G7 Code of Conduct. Being a completely impartial and independent company, DEKRA does not lobby for any specific language model or technology. “Our focus is exclusively on ensuring that the AI revolution happens in a safe and secure way”, Stan Zurkiewicz added.

Governments and institutions around the world are working on regulatory frameworks, with varying priorities. Europe’s Proposal for a Regulation on an Artificial Intelligence Act from 2021, for example, aims to set unified standards in the EU for the introduction, deployment, and use of AI systems, safeguarding individuals’ fundamental rights from potential negative impacts. It sets different rules along different risk levels, from unacceptable to minimal risk. Generally excluded from the use of AI are social scoring, cognitive behavioral manipulation, and real-time facial recognition; the draft is currently being negotiated.

The “Executive Order on Safe, Secure, and Trustworthy Artificial Intelligence”, released by the United States of America in October 2023, calls for standards in AI safety and security, adjustments to privacy regulations to address new risks from AI, and actions to protect equity and civil rights. It also builds a bridge to EU legislation. By signing G7’s “Code of Conduct” in October 2023, seven leading industrialized nations – CanadaFranceGermanyItalyJapan, the UK, and the U.S. – committed to developing advanced artificial intelligence systems based on eleven jointly defined principles.

Further globally relevant regulatory initiatives can be found in ChinaAustralia, the United Kingdom, and other regions.

Additionally, in terms of AI normalization, various standardization bodies are dedicated to developing standards for AI systems.

Service portfolio for testing and validating AI, Cyber Security, and other digital solutions is growing swiftly

In 2023, the company has been among the pioneering TIC companies to put the first wave of AI testing services onto the market. In addition, together with PwC and the city of Hamburg’s innovation fund, DEKRA has formed a joint venture for testing and certification of AI under the name CertifAI.

The company is also delivering on digitizing and automating its services, for instance, when inspecting confined spaces, DEKRA now deploys robots to ensure that human inspectors are not put at risk. Also, via strategic investments in the Swiss-based company Spearhead, DEKRA is capable of giving a first estimate of vehicle damage after a crash fully remotely by instantaneously collecting sensor and telematics data.

“Working with governments, universities, and leading technology companies like Bosch’s AIShield, we are in a prime position to offer testing, inspection, and certification services for Artificial Intelligence and other digital services, most importantly Cyber Security,” explained Stan Zurkiewicz. “And that’s exactly the outcome we envisioned in our Strategy 2025. We expect exponential growth in this business area over the coming years, and we plan to remain ahead of our competitors with an unparalleled set of services.”

Sustainability: DEKRA strongly supports COP28’s targets, offering over 500 sustainability-related services

DEKRA makes its debut at COP28, the United Nations’ annual climate change conference. The company strongly supports COP28’s targets of tripling renewable energy capacity and doubling energy efficiency improvements across sectors by 2030.

“We need to accelerate climate action. Many of COP28’s targets require cross-national and cross-industry collaboration, and faster innovation cycles may lead to growing risks in safety and security,” elaborated DEKRA’s CEO. “We can support key stakeholders in ensuring that the world can accelerate climate action in a safe and secure manner. We are offering over 500 sustainability-related services, from carbon footprint and lifecycle assessments to hydrogen infrastructure inspections as well as ESG auditing and advisory services.”

Urging national policymakers to authorize accredited third-party auditing companies for CSRD-related services

In Europe, in response to the German Supply Chain Act (“Lieferkettengesetz”) and the Corporate Sustainability Reporting Directive (CSRD), the company expects strong demand for its services portfolio. Yet, regarding CSRD, DEKRA urges national policymakers to allow independent accredited third-party technical auditing companies, such as DEKRA, into this market.

Under CSRD, over 50,000 companies will need to provide sustainability reports by 2026, nearly four times as many as today. Even smaller companies, which do not need to create their own reports, are obliged to share data with their clients. This data needs to be robust, transparent, and verifiable, as external verification will become mandatory under CSRD. In many EU countries, only financial audit firms may be allowed into this market. “Such a way of transposing the EU Directive into national law would result in a serious disadvantage, especially to Europe’s small and medium enterprises,” Stan Zurkiewicz pointed out, “as financial audit firms may not have the technical expertise required to report all CSRD-related data in a robust and efficient way. Consequently, the auditing process is likely to be expensive and time consuming.”

Future Mobility: DEKRA’s extensive investments are bearing very impressive results

The company’s testing facilities at DEKRA Lausitzring in Klettwitz, Germany, are being rapidly expanded with an objective of establishing, within the next two years, the world’s most comprehensive independent testing site for automated and connected driving. Planned jointly with vehicle manufacturers, suppliers, and research institutions, the new courses now cover more than 80 percent of real traffic scenarios. With the new, unique tracks DEKRA can support its customers even better in testing the safety of their assistance systems and automated driving functions.

Regarding electric vehicles, DEKRA offers a cutting-edge battery test, which delivers highly accurate EV Battery state of health measurement in just a few minutes. It has only recently been recognized with the Innovation Prize of the German Mobility Industry.

Outlook: forecasting further growth in 2024

DEKRA anticipates a volatile macroeconomic situation and difficult framework conditions. However, the company is confident of further growth, based on its strong market position in traditional areas, trustful relations with over 500,000 customers globally, and the promising service portfolio for future technologies.

“We place great trust in the quality of our services, in the people who deliver them, and in our strategic framework. Thus, DEKRA will continue to grow in 2024 and make a significant contribution to making the world safer and more secure,” summarized DEKRA’s CEO.


Blower Market worth $4.6 billion by 2028 – Exclusive Report by MarketsandMarkets™


Blower Market is expected to reach USD 4.6 billion by 2028 from USD 3.7 billion in 2023 at a CAGR of 4.8% during the 2023–2028 period according to a new report by MarketsandMarkets™The increasing demand for blowers across various industries is spurred by their versatile applications. From ventilation and cooling in manufacturing plants to combustion support in furnaces, blowers play a pivotal role in diverse industrial processes. The emphasis on energy efficiency, stringent environmental regulations, and the need for precise air and gas handling contribute to the growing adoption of blowers. Industries ranging from manufacturing and construction to wastewater treatment find these devices essential, driving the overall demand for blowers across diverse sectors.

Browse in-depth TOC on “Blower Market

219 – Tables
48 – Figures
266 – Pages

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Blower Market Scope:

Report Coverage


Market Revenue in 2023

 $3.7 billion

Estimated Value by 2028

 $4.6 billion

Growth Rate

 Poised to Grow at a CAGR of 4.8%

Largest Market

 Asia Pacific

Market Size Available for


Forecast Period


Forecast Units

Value (USD Billion)

Report Coverage

 Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

Product type, pressure, end-use industry, distribution channel, and region

Geographies Covered

Asia Pacific, North America, Europe, Middle East & Africa, and South America

Key Market Opportunities

Rising demand for oil-free and Class 0-certified blowers

Key Market Drivers

Growing financial allocations towards water and wastewater treatment

Positive displacement blowers, by product type, are expected to grow by the largest segment during the forecast period.

Based on product type, the Blower Market has been segmented into positive displacement blowers, centrifugal blowers, high-speed turbo blowers, and regenerative blowers. Positive displacement blowers are in high demand across a wide range of sectors because of their unparalleled versatility and dependability. Given their superior ability to deliver steady airflow and pressure, these blowers are crucial for use in water treatment facilities, wastewater treatment facilities, and pneumatic conveying. Businesses value their versatility in managing a variety of gases and their capacity to function under difficult circumstances. Positive displacement blowers are in more demand as industries place a higher value on accuracy and longevity while still satisfying the wide range of requirements for industrial operations.

The pressure segment above 20 psi segment is expected to grow at the second fastest CAGR during the forecast period.

This report segments the Blower Market based on pressure into up to 15 psi, 15 – 20 psi, and above 20 psi. The above 20 psi segment is expected to be the second fastest-growing segment during the forecast period. The above 20 psi blowers can also be known as the high-speed blowers. The industry uses these blowers because of how well they work to provide tailored airflow and quick air circulation. For procedures that need rapid cooling, ventilation, or material handling, these blowers are essential. Their capacity to provide strong airflow at high velocities speeds up production by accelerating temperature regulation and guaranteeing ideal conditions in industrial environments. High-speed blowers are a favored option for many industrial applications as they also aid in energy conservation and process optimization.

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Europe is expected to be the third largest region in the Blower Industry.

Europe is expected to be the second-largest Blower Market during the forecast period. The European region has been subdivided into five key countries: the UK, GermanyFranceItalySpain, and the Rest of Europe. High and medium-voltage products are crucial to industries as they enable efficient power transmission over long distances from generation centers to transformer substations. The revitalization of the European industrial sector and the establishment of new industrial set-ups and facilities are also expected to fuel the demand for high & medium-voltage products in the region.

Key Players

Some of the major players in the Blower Companies are Atlas Copco (Sweden), Ingersoll Rand (US), Kaeser Kompressoren (Germany), Aerzen (Germany), and Xylem (US). The major strategies adopted by these players include sales contracts, product launches, investments, collaborations, partnerships, and expansions.

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Recent Developments

  • In August 2023, Atlas Copco invested further in India for the construction of a new manufacturing facility in Talegaon, Pune, India. The facility would manufacture air and gas compressor systems for the local market, and for export. The company also took into account the sustainability factor since, in the facility around 80% of the energy will come from solar panels and 75% of the water consumed will be derived from rainwater harvesting.
  • In December 2022Ingersoll Rand acquired Everest Blower Systems Private Limited, which would strengthen the company’s presence in India. This acquisition would enable the company to offer customized blower and vacuum pump solutions in India.
  • In June 2021, Aerzen added the new AT 60 size to its Aerzen Turbo G5plus line, broadening its range of products. Applications for these blowers include industrial or municipal wastewater treatment facilities. The Aerzen Turbo AT 60-0.9S is intended for assembly capacities of up to 50 kW and volume flows of 900–2,640 m3/h.

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Booster Compressor Market by Cooling Type (Air, Water), Stage (Single, Double, Multi), Pressure Rating (14-40 bar, 41-100, 101-350, >350), End use Industry (oil & gas, process, chemicals, power) and Region – Global Forecast to 2023