News ReleaseSouth Korean Company Introduces Autonomous Valet Parking Robot
MarketJar
HL Mando, a South Korean company specializing in components for electric cars and self-driving vehicles, is developing an autonomous valet parking robot named Parkie. The company plans to conduct field testing for Parkie early next year. Parkie, a sleek 3.5-inch-high flat platform, is designed to autonomously park various vehicle types, including sports cars and SUVs, without requiring external assistance. Equipped with advanced technology, the robot can gauge a vehicle's weight, wheelbase distance, license plate number, and assess road conditions before efficiently parking the car. Scheduled to commence testing in April at a startup hub south of Seoul, Parkie operates on Level 4 autonomous driving technology, eliminating the need for human supervision. According to HL Mando, once commercialized, the Parkie valet parking system is projected to be 20% more cost-effective than conventional methods. The company said that pilot test results, anticipated next year, will play a crucial role in evaluating the effectiveness and feasibility of the autonomous parking robot. Daelim University automotive Professor Kim Pil-soo commented on the significance of such innovations, noting that while autonomous parking systems in open-air environments are relatively achievable, realizing them indoors presents significant challenges. In this context, robots like Parkie hold substantial potential for addressing complex indoor parking scenarios. Several other industries have been embracing autonomous robots, including construction, agriculture, healthcare and security. The security robot market in particular is gaining traction, hitting $13.82 billion in 2023 and projected to grow at a compound annual growth rate (CAGR) of 13.57% to reach $26.11 billion by 2028. 1 Among the companies creating waves in this space is Knightscope, Inc. (NASDAQ:KSCP), a leading developer of autonomous security robots and blue light emergency communication systems that increase safety in residences, workplaces, educational institutions, and public spaces. Its cutting-edge robots, designed to discourage, detect, and report incidents, contribute significantly to crime prevention. Knightscope Reaches a Key Milestone Knightscope, Inc. (NASDAQ:KSCP) has just been awarded a FedRAMP Authority to Operate (ATO) sponsored by the U.S. Department of Veterans Affairs. This accomplishment means that Knightscope will eventually be listed on the FedRAMP Marketplace as an approved provider for federal agencies as a next step and can also begin its deployment processes to perform on the contract awarded by the VA for its first K5 ASR. Mercedes Soria, EVP and Chief Intelligence Officer, who led the nearly three-year effort to achieve the ATO milestone, said that this achievement not only underscores Knightscope 's dedication to cybersecurity but also reaffirms the company's commitment to enhancing national security. Soria believes that the rigorous process undertaken during this achievement has strengthened Knightscope 's overall security posture, positively impacting its commercial and civilian applications. William Santana Li, Chairman and CEO, outlined Knightscope 's 2024 Roadmap to Profitable Growth in a blog post. The roadmap focuses on key areas such as growth, margin improvements, acquisitions, and the commencement of pre-orders for the all-new K7 in 2025. According to Li, the ATO accomplishment reflects the relentless nature of the Knightscope team and significantly expands the Total Addressable Market (TAM) the company can serve. Protecting the Places People Live, Work, Study, and Visit Knightscope ’s autonomous security robots use a unique combination of self-driving technology, robotics, AI, and electric "vehicles" to provide humans with extra eyes, ears and a voice on the ground. Knightscope, Inc. (NASDAQ:KSCP) just announced a new contract with a California-based supplier specializing in semiconductor final-test equipment, system-level test sockets, and thermal control units. The contract includes the deployment of one 5th Generation K5 Autonomous Security Robot (ASR) and two K1 Hemispheres (K1H). The client, a major player in semiconductor test equipment, has strategically invested in advanced technologies to enhance security while minimizing guarding costs at its domestic chip production, testing, and research facility. In line with the Semiconductor Industry Association's emphasis on prioritizing supply chain security, the client recognizes the importance of safeguarding various sectors, including automotive semiconductors and information technologies. The K5 ASR is set to patrol the manufacturing floor indoors, providing surveillance among high-end test equipment and supplies. Meanwhile, one K1H will be stationed at the front entrance of the building, and the second K1H will monitor the rear area, adjacent to a regional airport. Following the initial deployment, the client will assess the program's effectiveness, with potential plans to expand it to the company's other nine locations across the United States. In addition, Knightscope, Inc. (NASDAQ:KSCP) recently secured two significant sales in the healthcare and higher education sectors. These transactions involve the acquisition of four additional emergency communication devices and associated services, marking a continued expansion into rapidly growing market segments. A private university in California has opted to enhance its emergency phone system by incorporating two K1 Blue Light Towers, complemented by a comprehensive maintenance program. This strategic addition increases access to critical services across the campus, with a total of 15 devices now in operation. Knightscope 's K1 Blue Light Towers and Blue Light Emergency Phones offer highly visible and recognizable fixed locations for reliable communication, especially in situations where cellphone batteries are depleted or service is unavailable. Installation is hassle-free, as these devices are fully wireless and do not necessitate excavation or trenching. With a simple button press, students, guests, or teachers can swiftly contact security for immediate assistance during emergencies. They are perfectly suited to parking lots and structures, college and university campuses, electric charging stations, remote biking/hiking paths, transit stations, offices, and more. Paramount Security Partners, an authorized Knightscope Partner (KAP), has successfully sold two solar-powered K1 Blue Light E-Phones to a well-known teaching hospital and biomedical research facility in New Jersey. This hospital, a major healthcare provider in the region with over 1.2 million outpatient visits annually and more than 7,000 employees, has embraced Knightscope 's recommendations for bolstering security in medical facilities. By deploying Knightscope 's technologies, clients aim to ensure the safety of healthcare workers and patients while proactively preventing minor issues from escalating into major concerns. For further information on Knightscope's innovative solutions and projects, please visit Knightscope's website (NASDAQ:KSCP). Footnotes: [1] https://www.mordorintelligence.com/industry-reports/security-robots-market Disclosure: 1) The author of the Article, or members of the author’s immediate household or family, do not own any securities of the companies outlined in this Article. The author determined which companies would be included in this article based on research and understanding of the sector. 2) The Article was issued on behalf of and sponsored by, Knightscope, Inc. Market Jar Media Inc. was paid $1,500 for the production and publishing of this article by Knightscope, Inc.’s Digital Marketing Agency of Record (Native Ads Inc.). Additional details relating to Market Jar Media Inc.’s engagement by Knightscope, Inc.’s Digital Marketing Agency of Record (Native Ads Inc.) are set out in https://pressreach.com/disclaimer-kscp. 3) Statements and opinions expressed are the opinions of the author and not Market Jar Media Inc., its directors or officers. 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Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute Knightscope, Inc.’s business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) Knightscope, Inc.’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) the accuracy of budgeted costs and expenditures; (e) Knightscope, Inc.’s ability to attract and retain skilled personnel; (f) political and regulatory stability; (g) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (h) changes in applicable legislation; (i) stability in financial and capital markets; and (j) expectations regarding the level of disruption to as a result of CV-19. 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Such risks include, without limitation: (a) Knightscope, Inc.’s operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as CV-19 may adversely impact Knightscope, Inc.’s business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing Knightscope, Inc.’s business operations (e) Knightscope, Inc. may be unable to implement its growth strategy; and (f) increased competition.Except as required by law, Knightscope, Inc. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. 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January 03, 2024 05:30 AM Eastern Standard Time
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