PALM BEACH, Fla., Oct. 24, 2024 (Globe Newswire) — FN Media Group News Commentary – The commercial drone market is growing due to increasing demand from various industries such as construction, agriculture, security, and military applications. , has experienced significant growth. Much more. Drones offer benefits to businesses, including cost savings, increased efficiency, and increased safety. The market size is expected to reach USD 12.3 billion by 2025 due to technological advances and regulatory approvals. AI is driving market transformation… According to a Technavio report, the global commercial drone market size is estimated to grow by USD 126.87 billion from 2024 to 2028. The market is estimated to grow at a CAGR of 57.74% during the forecast period. The increasing number of applications for drones is driving market growth, with new developments and launches of commercial drones trending forward. The report continues: “The commercial drone market is experiencing significant growth due to the continued introduction of new drones, components, and software solutions by vendors. We integrate drones for tasks such as data acquisition, and are equipped with advanced autonomous flight technology and artificial intelligence to ensure safe and stable flight even in difficult environments. Increased availability of products and software solutions will drive commercial drone adoption over the forecast period.” Technology companies currently active in the market include ZenaTech, Inc. (NASDAQ: ZENA), C3 AI (NYSE: AI); Includes NVIDIA Corporation (NASDAQ: NVDA), SoundHound AI, Inc. (NASDAQ: SOUN), and AeroVironment (NASDAQ: AVAV). ).
“The commercial drone market is experiencing significant growth, especially in sectors such as agriculture. Drones equipped with high-quality cameras are trending, led by VAPOR helicopters. Artificial intelligence and machine learning are expanding from inspection activities to Hybrid drones that combine the capabilities of quadcopters, octocopters, and hexacopters are gaining popularity in agriculture, where they are revolutionizing decision-making in industries ranging from farm management. The commercial drone market is also benefiting from aerial photography and warehouse management, with services such as Raptor Maps helping to monitor crops. Its applications in various fields are increasing and experiencing significant growth in flight control, firmware, middleware, computer vision, and environmental awareness through technological advances in electronics, computing, microcontrollers, and processors. It has been resolved.”
ZenaTech Inc. (NASDAQ:ZENA) today issues major development news regarding the addition of patent assets to the company – for more information, please visit https://www.financialnewsmedia.com/news-zena/.
Other breakthrough developments from ZenaTech Inc. this week include:
ZenaTech Announces Acquisition of Software Company Adding Critical Capabilities to Building AI Drones – ZenaTech also signed a deal to acquire ZooOffice Inc., the holding company for software companies Jadian and DeskFlex, from ZenaTech’s former parent company We also announced that. The acquisition of these two software companies will provide critical compliance and inspection software, as well as scheduling and mapping software that will be incorporated into ZenaTech’s ZenaDrone AI drone solution. The transaction is expected to further expand ZenaTech’s SaaS software solutions portfolio and customer base, and increase recurring revenue, particularly in the government sector. Acquisitions may require shareholder and regulatory approval.
“Adding Jadian and DeskFlex software capabilities to the ZenaTech portfolio is part of our strategy to provide full-stack, integrated AI drone solutions for multiple sectors, including agriculture. Integrated with drone hardware and sensors, Deskflex’s scheduling and mapping software enables farmers to track and manage regulatory and environmental requirements such as crop traceability, fertilizer and pesticide use, water conservation, and greenhouse gas emissions. , brings an integrated value-add to our property management solutions,” said CEO Dr. Sean Pasley. View the full release at https://finance.yahoo.com/news/zenatech-announces-software-company-acquisition-113000656.html.
Other recent developments in the technology industry include:
C3 AI (NYSE: AI) recently announced the newly rebranded C3 AI Asset Performance Suite. It is a collection of powerful purpose-built AI applications that work together to help businesses maximize value and improve sustainability performance. C3 AI Asset Performance Suite includes C3 AI Reliability, C3 AI Process Optimization, and C3 AI Energy Management. These applications provide businesses with optimized asset performance through improved operational efficiency across business units.
“C3 AI is a leader in AI-powered predictive maintenance, and our technology positively impacts the bottom line and allows our customers to continuously maximize their investments, making our customers one of the most satisfied companies in the industry. ” said CEO Thomas M. Siebel. , C3 AI. “This rebranding of the C3 AI Asset Performance Suite enables customers to deploy applications that work together and address the entire value chain, in this case predictive maintenance, process optimization, and energy management. This is based on the recognition that value can be realized.”
SoundHound AI, Inc. (NASDAQ: SOUN), a global leader in voice artificial intelligence, recently announced that its SoundHound Chat AI voice assistant has released new customization tools to help auto brands transform the way they interact with customers in the car. Announced. This new feature is currently being piloted with some of SoundHound’s OEM partners.
In addition to the core functionality provided by SoundHound Chat AI’s best-in-class voice assistant, it integrates generative AI capabilities with vehicle control and real-time areas such as flight time, navigation, and weather. Customization gives OEMs control. It works for our loyal consumers and is closely aligned with our identity as an automaker. This new layer of customization provides drivers with a more engaging and informative experience, allowing them to explore vehicle features and functionality more easily and effectively.
AeroVironment (NASDAQ: AVAV) recently announced that the U.S. Army has been awarded a $54.9 million delivery order to manufacture the Switchblade® loitering munitions system. The recently announced compensation includes $54.9 million in new capital and an additional contract cap of $743 million. This contract was issued as part of a previously awarded broader, indefinite-delivery, indefinite-quantity contract for both the U.S. military and several alliance partners, including Lithuania, Romania, and Sweden. We guarantee full support.
Work on this contract will be performed in Simi Valley, California, with an estimated completion date of June 30, 2026. This award leverages fiscal 2023 and 2024 Army funding and foreign military sales and highlights AV’s continued commitment to delivering proven battlefield results. – Ready-to-use technology that meets the evolving needs of modern militaries.
NVIDIA Corporation (NASDAQ: NVDA) recently announced that it has contributed the foundational elements of its NVIDIA Blackwell accelerated computing platform design to the Open Compute Project (OCP), expanding NVIDIA Spectrum-X™ support for the OCP standard.
At this year’s OCP Global Summit, NVIDIA shares key parts of the electromechanical design of the NVIDIA GB200 NVL72 system with the OCP community, including rack architecture, compute and switch tray mechanics, liquid cooling and thermal environment specifications, and NVIDIA NVLink I will. ™ Cable Cartridge Volumetric—Supports higher computing density and network bandwidth.
NVIDIA has already made several official contributions to OCP across multiple hardware generations, including the NVIDIA HGX™ H100 baseboard design specification, which brings the widest selection of products from the world’s computer manufacturers to the ecosystem. and help expand the adoption of AI.
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