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Global Times: Foreign companies attend 2nd supply chain expo in record numbers

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BEIJING, Nov. 25, 2024 /PRNewswire/ — China will continue to take concrete actions to ensure stable and unimpeded global industrial and supply chains, Chinese Premier Li Qiang said Monday while attending a symposium with representatives of enterprises and organizations participating in the upcoming second China International Supply Chain Expo (CISCE).

Present at the symposium were representatives of Apple Inc., Rio Tinto, Contemporary Amperex Technology Co and the US-China Business Council, among others.

Highlighting their full confidence in the Chinese economy and optimism about the huge potential of the Chinese market, corporate representatives said foreign firms in China are willing to expand their investment and deepen their development in the country, strengthen cooperation on global industrial and supply chains, and achieve win-win results.

Li said with the in-depth development of economic globalization, global industrial and supply chains have expanded gradually over the past few decades, promoting the rapid growth of the world economy and benefiting all parties.

While global economic growth now lacks momentum, certain protectionist acts and moves that overstretch the concept of security continue to damage global industrial and supply chains, pushing up corporate costs further, reducing economic efficiency and hindering common development, he said.

Li called for firm efforts to safeguard stable, unimpeded global industrial and supply chains, as well as the common interests of all parties.

The premier noted that China has achieved generally steady economic growth and made further progress this year, saying that more efforts will be made to step up counter-cyclical adjustment and promote sound economic development.

China will accelerate the construction of a modern industrial system, and provide solid support for the efficient operations of global industrial and supply chains, Li said.

The 2nd CISCE, which is set to take place in Beijing from Tuesday to November 30, has attracted over 600 Chinese and foreign companies, marking a 20-percent rise in exhibitors compared to the previous event.

Chinese analysts said that China’s holding of events such as the CISCE and the recently concluded China International Import Expo, one of the world’s largest import-themed expos, is a clear signal that the country is committed to safeguarding global free trade and cooperation amid rising anti-globalization headwinds.

Li Yong, a senior research fellow at the China Association of International Trade, told the Global Times on Monday that sticking to the path of opening-up has become a consensus in China and it is also a policy a country must adopt in order to achieve common development under the current global economic environment. 

MNCs flock to show

One of the highlights of the CISCE is the record attendance by multinational corporations (MNCs), which Chinese analysts on Monday said is a fresh testament to the attractiveness of China’s strong and resilient supply chain and vast market.

Top brass of foreign companies took the occasion to pledge their support and commitment to further enhance supply chain cooperation in China.

Apple CEO Tim Cook toured the CISCE site on Monday. “I am proud to be here… that Apple has an exhibit here with our partners,” said Cook, who is visiting the expo for the first time.

Answering a question on Chinese supply chain partners, Cook stated his high regard for Apple’s Chinese partners, as Apple “could not do what it does without them.”

Apple has some 200 major suppliers, with more than 80 percent producing products in China, according to state broadcaster CCTV.

This is Cook’s third business trip to China this year. In previous trips, he pledged that Apple would “continue to grow its investments in China and help the high-quality development of the supply chain” in his meeting with China’s Minister of Industry and Information Technology Jin Zhuanglong in October, and said “there’s no supply chain in the world that’s more critical to us than China” in a March trip.

Rio Tinto chief commercial officer Bold Baatar said that China has played the role of connector and stabilizer for the global industrial and supply chain over past decades and leads global trade exchanges, investment and cooperation, according to a statement the global mining giant sent to the Global Times on Monday.

China’s speeding up of the development of new quality productive forces will continue to usher in new demand for resources needed for energy transition, bringing MNCs and their Chinese partners fresh opportunities, according to Baatar.

FedEx, one of the world’s largest express transportation companies, is participating in the CISCE for a second time. 

Poh-Yian Koh, president of FedEx China, told the Global Times on Monday that “by participating in the CISCE, we aim to collaborate and help strengthen the resilience of global industrial and supply chains, support the smooth operation of the global economy, and contribute to a more open and prosperous future.”

Despite rising protectionist headwinds that have negatively impacted the global industrial and supply chain, foreign vendors from some 70 countries are flocking to the event. 

Foreign vendors participating in this year’s CISCE account for 32 percent of the total number of vendors, markedly higher than a reading of 26 percent in the previous event, according to the China Council for the Promotion of International Trade (CCPIT), the organizer of the CISCE.

“You cannot talk about international supply chain cooperation without talking about big MNCs, as they are the main players,” Huo Jianguo, a vice chairman of the China Society for World Trade Organization Studies in Beijing, told the Global Times on Monday. “Their enthusiasm in attending attests to China’s attractiveness as a cornerstone of global manufacturing, its growing influence and vast consumer market.”

The data shows plainly that the majority of MNCs are making business decisions based on their own needs and situation, Huo said. And that decision is to stay and expand here, which is to stay where the future lies, the expert said.

Of the foreign exhibitors, the number of US companies tops the list, with Apple, Tesla, and Qualcomm among the vendors, according to the CCPIT.

The numbers of vendors from Europe and Japan are also significantly higher than last year.

A large number of American companies are still committed to China, and are developing well, Huo said. “It should be said that for most MNCs, that attractiveness is still growing.”

Bolstered by the country’s recent incremental policies aimed at vitalizing growth momentum, a number of foreign institutions have revised their growth forecasts upward for China. For example, UBS Investment Bank has raised its China 2024 growth forecast to 4.8 percent from 4.6 percent, while Goldman Sachs has lifted China’s GDP prediction this year from 4.7 percent to 4.9 percent, according to Xinhua.

Out of over 400 surveyed foreign firms, 90 percent rate China’s business environment as “satisfactory” or better, CCPIT said in a press release on October 31. Nearly 50 percent of foreign firms noted China’s growing market appeal, the press release noted.

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SOURCE Global Times

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Technology

Investment and Growth Planned for Point of Sale at Truck Stops as PDI Technologies Acquires Comdata Merchant Solutions

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33 minutes ago

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December 2, 2024

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Comdata retains fuel card and payment acceptance business serving commercial fleets

ATLANTA, Dec. 2, 2024 /PRNewswire/ — PDI Technologies, a global leader delivering powerful solutions and insights that serve as the backbone of the convenience retail and petroleum wholesale ecosystem, today announced its acquisition of the Comdata Merchant Solutions business from Comdata’s parent company, Corpay Inc. (NYSE: CPAY). This includes the Point of Sale (POS) hardware, software, and systems that enable transactions at the site level for truck stops and unattended commercial fueling locations. 

PDI currently offers a market-tested POS retail solution internationally, including convenience customer sites in North America as of Q4 2024. Designed for its versatility in both retail fuel and convenience, the all-in-one software platform provides cloud-centric POS, self-checkout, and foodservice capabilities. The addition of the Comdata Merchant Solutions assets and technologies to the existing PDI retail offering expands and strengthens the PDI POS portfolio.

“For years, the Comdata Merchant Solutions team has dedicated themselves to serving the POS needs of the attended and unattended over-the-road trucking industry,” said Sid Gaitonde, President, Enterprise Productivity, PDI Technologies. “We welcome their team and look forward to delivering even greater value to customers and the entire industry ecosystem as we invest in and grow the business here at PDI.” 

Comdata will retain operations of its truck stop payment acceptance network, including the fuel cards issued to trucking companies and the technology that accepts transactions at truck stop retailers, which were not included in the acquisition. As part of the deal, PDI will become an approved provider of Comdata transactions across the PDI POS solutions.

“This is an exciting announcement for the Comdata Merchant Solutions team and the industry, and we wish the team the best as they transition to PDI,” said Randy Morgan, President, Comdata. “We know PDI will support and enhance the POS part of the business, while we remain the card issuer and merchant acceptance provider moving forward.”

“PDI’s integration with Comdata Merchant Solutions will allow us to deliver a more comprehensive and efficient POS solution, ultimately benefiting both convenience retailers and their customers,” said Brad McGuinness, Senior Vice President and General Manager, POS Solutions, PDI Technologies. “We see immense potential in both the exceptional technology and the deeply knowledgeable people at Comdata Merchant Solutions, and we look forward to adding them to our growing portfolio and team.”

Berenson & Company, LLC served as financial advisor to PDI in connection with the transaction.

About PDI Technologies

With 40 years of industry leadership, PDI Technologies, Inc. resides at the intersection of productivity and sales growth, delivering powerful solutions that serve as the backbone of the convenience retail and petroleum wholesale ecosystem. By “Connecting Convenience” across the globe, we empower businesses to increase productivity, make informed decisions, and engage faster with their customers. From large-scale ERP and logistics operations to loyalty programs and cybersecurity, we’re simplifying the industry supply chain for whatever comes next. Today, we serve over 200,000 locations worldwide with solutions like the Fuel Rewards® program and GasBuddy®, two popular brands representing more than 30 million users. Visit the PDI Technologies website.  

For more information, contact: pr@pditechnologies.com  

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SOURCE PDI Technologies

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Technology

Advancements Series Scheduled to Air on Saturday, December 7, 2024, at 8:00 pm ET.

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December 2, 2024

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Learn how innovative ideas and groundbreaking technologies are empowering businesses and individuals today.

JUPITER, Fla., Dec. 2, 2024 /PRNewswire/ — Advancements with Ted Danson is scheduled to broadcast on Saturday, December 7, 2024. Tune into Bloomberg Television at 8:00 pm ET to watch.

First, the series will educate about Cook Inlet Region, Inc. (CIRI), one of 12 land-based Alaska Native regional corporations created pursuant to the Alaska Native Claims Settlement Act (ANCSA). While hearing from CIRI – whose regional boundaries roughly follow the traditional Dena’ina territory of Southcentral Alaska – audiences will learn about its mission to promote economic and social well-being amongst its shareholders and their families, and how it focuses on strength and sustainability through the traditional values and practices that have served Alaska Native people for generations.

Next, viewers will discover how innovations in prefabrication technology are transforming the electrical construction industry. With a look at AECInspire, viewers will hear how it’s AI-enhanced tools are helping to democratize access to advanced prefabrication solutions, which lead to reduced labor dependency and cost, and are setting new standards for quality and efficiency across projects.

Find out about the latest tactics and techniques being deployed by sophisticated hackers and ransomware groups today and see how artificial intelligence tools are being used in cyber-attacks as the show explores how frontline security professionals at American Cyber and SonicWall are helping to protect organizations, improve cyber hygiene, and reduce risks online.

The show will also explore how the demand for magnets has created a growing interest in finding sustainable alternatives. Hearing from experts at Niron Magnetics (Niron), audiences will learn about its proprietary Clean Earth Magnet® technology, which was created to enable mass production of high-performance permanent magnets. Possessing inherently higher magnetization that can be produced more sustainably, the segment will highlight how the Clean Earth Magnet materials create high-powered magnets using commonly available iron and nitrogen raw materials that can be sourced globally.

About Advancements:
Advancements is an information-based educational television series that explores recent developments taking place across several industries and economies. With a focus on some of the major innovations responsible for global progress today, the award-winning series goes behind-the-scenes to discover and share how technology and innovation continue to drive the world forward.

Advancements shines a light on several important issues and topics, while featuring an array of cutting-edge improvements, state-of-the-art technologies, and groundbreaking environmental and sustainable solutions. Its team of writers, directors, and producers remain dedicated to consistently producing commercial-free, educational programming for viewers and networks.

For more information, please visit www.AdvancementsTV.com or call 866-496-4065.

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SOURCE Advancements

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Technology

Automotive ESP Market to Grow by USD 10.91 Billion (2024-2028), Driven by Digitization and Electrification, with AI Shaping Market Trends – Technavio

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33 minutes ago

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December 2, 2024

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NEW YORK, Dec. 2, 2024 /PRNewswire/ — Report on how AI is redefining market landscape – The global automotive engineering service providers (ESP) market size is estimated to grow by USD 10.91 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 9.64% during the forecast period. Increasing digitization and electrification of automobiles is driving market growth, with a trend towards development of autonomous vehicles. However, evolving regulatory landscape of automotive industry poses a challenge. Key market players include Adecco Group AG, Altair Engineering Inc., ASM Technologies Ltd., AVL List GmbH, Belcan LLC, Bertrandt AG, Capgemini Service SAS, Contechs Group Holdings Ltd., EDAG Group, EPAM Systems Inc., FEV Group GmbH, HCL Technologies Ltd., Hitachi Ltd., IAV GmbH, KPIT Technologies Ltd., L and T Technology Services Ltd., Magna International Inc., Mahindra and Mahindra Ltd., Onward Technologies Ltd., and Ricardo Plc.

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View Free Sample PDF

Automotive Engineering Service Providers (ESP) Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 9.64%

Market growth 2024-2028

USD 10.91 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

8.27

Regional analysis

Europe, APAC, North America, South America, and Middle East and Africa

Performing market contribution

APAC at 30%

Key countries

US, China, Germany, France, and UK

Key companies profiled

Adecco Group AG, Altair Engineering Inc., ASM Technologies Ltd., AVL List GmbH, Belcan LLC, Bertrandt AG, Capgemini Service SAS, Contechs Group Holdings Ltd., EDAG Group, EPAM Systems Inc., FEV Group GmbH, HCL Technologies Ltd., Hitachi Ltd., IAV GmbH, KPIT Technologies Ltd., L and T Technology Services Ltd., Magna International Inc., Mahindra and Mahindra Ltd., Onward Technologies Ltd., and Ricardo Plc

Market Driver

Autonomous vehicles, a fusion of automotive engineering and technology, are developed by ESPs through intricate engineering solutions. These companies design, fabricate, and assemble mechanical, electrical, and electronic elements, integrating artificial intelligence and safety features. Key technologies include 5G networks, collision avoidance sensors, and connection sensors. ESPs collaborate with OEMs and tech firms to create luxurious, efficient, and safe vehicles, adhering to stringent safety regulations and industry 4.0 standards. LED technology and lightweight body materials enhance vehicle aesthetics and performance. ESPs also focus on vehicle efficiency, electric vehicles, and outsourcing services, catering to emerging nations and commercial vehicle sectors. 

Request Sample of our comprehensive report now to stay ahead in the AI-driven market evolution!

Market Challenges

Autonomous vehicles and connected cars bring new regulations, posing uncertainties for Automotive Engineering Service Providers (ESPs). Strict safety regulations, such as data privacy and autonomous driving standards, necessitate substantial investments in understanding, interpreting, and complying. Fear of non-compliance and potential liability may hinder innovation, with ESPs hesitant to develop cutting-edge technologies due to regulatory risks. High barriers to entry, created by stringent safety testing and certification, favor larger, established providers, potentially limiting competition and market dynamism. Key areas of focus include 5G networks, electric vehicles, vehicle efficiency, collision avoidance sensors, connection sensors, lightweight vehicles, fuel efficient vehicles, electric motors, battery management systems, sensor fusion, cybersecurity, data analytics, and vehicle safety.

Discover how AI is revolutionizing market trends- Get your access now!

Segment Overview

This automotive engineering service providers (esp) market report extensively covers market segmentation by

Application1.1 In-house1.2 Out-sourceProduct Type2.1 Powertrain2.2 Complete vehicle2.3 Electrical/electronics2.4 OthersGeography3.1 Europe3.2 APAC3.3 North America3.4 South America3.5 Middle East and Africa

1.1 In-house- The Automotive Engineering Service Providers (ESP) Market encompasses mechanical and electrical engineering, leveraging lightweight materials and digital vehicles to enhance connectedness and software development. ESPs address cybersecurity and data analytics concerns, ensuring vehicle safety and fuel efficiency through expertise in electric motors and battery management systems. Sensor fusion engineering solutions facilitate designing, developing, fabricating, and assembling mechanical, electrical, electronics, and software elements for automobiles. ESPs cater to stringent safety regulations in the automotive engineering field, delivering improved quality, safe structured vehicles, and convenient driving experiences for models and vehicles, including commercial ones. With the advent of 5G networks, ESPs are poised to revolutionize the industry through engineering solutions for autonomous and electric vehicles. Investment pockets lie in the areas of safety elements, luxury vehicles, and the integration of advanced technologies, such as 5G networks and autonomous driving systems.

Download a Sample of our comprehensive report today to discover how AI-driven innovations are reshaping competitive dynamics

Research Analysis

The Automotive Engineering Service Providers (ESP) market encompasses the design, development, fabrication, and integration of mechanical, electrical, and electronics elements for commercial vehicles. This includes the implementation of 5G networks and advanced technologies such as autonomous and electric vehicles. ESPs focus on enhancing vehicle efficiency through the use of lightweight materials and fuel-efficient components. Collision avoidance sensors and connection sensors are essential mechanical and electrical features that ESPs incorporate into digital and connected vehicles. Software engineering and cybersecurity are critical aspects of ESP services, ensuring data analytics and secure communication between vehicles and infrastructure. The ESP market continues to evolve, offering innovative solutions to meet the demands of the automotive industry.

Market Research Overview

The Automotive Engineering Services Market encompasses a diverse range of offerings, including vehicle design, development, testing, and consulting services. These solutions cater to various sectors, such as body and chassis, powertrain, electronics, and software. ESPs employ cutting-edge technologies like CAD, CAE, and CAM to create efficient, safe, and eco-friendly vehicles. They also focus on regulatory compliance, ensuring that vehicles meet stringent safety and emissions standards. Additionally, ESPs provide services related to vehicle connectivity, autonomous driving, and electric powertrains, reflecting the industry’s ongoing evolution. The market is driven by factors like increasing vehicle production, growing demand for advanced technologies, and stringent regulations.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ApplicationIn-houseOut-sourceProduct TypePowertrainComplete VehicleElectrical/electronicsOthersGeographyEuropeAPACNorth AmericaSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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