Cyngn has announced the release of a white paper that examines the critical role automation is playing across dozens of industries.
MENLO PARK, Calif. Cyngn Inc. (the “Company” or “Cyngn”) (NASDAQ: CYN), a developer of innovative autonomous driving software solutions for industrial and commercial applications, announced the release of a white paper that examines the critical role automation is playing across dozens of industries.
Cyngn announces the release of a white paper examining the significant role automation is playing across several diverse industries and why automation is expected to grow to an over $300 billion market by 2027. Source: Cyngn
Following two decades of research, development, and beta testing, autonomous industrial vehicles have grown beyond their startup phase and have risen to become an industry necessity at dizzying speeds. Industries ranging from manufacturing to mining, construction, agriculture, and dairy are using autonomous vehicles to change the way they operate.
The implementation of autonomy yields key benefits with immediate results, such as increasing profitability, scalability, adaptability, and safety — such that early adopters are carving out a competitive advantage and setting new industry process standards.
In this industry report, Cyngn gives a comprehensive overview of industrial autonomous vehicle deployments across 20 different sectors — and why automation in all forms is expected to grow exponentially.
Key Takeaways:
DOWNLOAD THE FULL REPORT HERE.
About Cyngn
Cyngn is an autonomous vehicle technology company that is focused on addressing industrial uses for autonomous vehicles. Cyngn believes that technological innovation is needed to enable adoption of autonomous industrial vehicles that will address the substantial industry challenges that exist today. These challenges include labor shortages, lagging technological advancements from incumbents, and high upfront investment requirements. Cyngn addresses these challenges with its Enterprise Autonomy Suite, which includes DriveMod (modular industrial vehicle autonomous driving software), Cyngn Insight (customer-facing software suite for monitoring/managing AV fleets and aggregating/analyzing data), and Cyngn Evolve (internal toolkit that enables Cyngn to leverage data from the field for artificial intelligence, simulation, and modeling).
To learn more, please visit https://cyngn.com/.
Find Cyngn on:
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any statement that is not historical in nature is a forward-looking statement and may be identified by the use of words and phrases such as "expects," "anticipates," "believes," "will," "will likely result," "will continue," "plans to," "potential," "promising," and similar expressions. These statements are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described in the forward-looking statements, including the risk factors described from time to time in the Company’s reports to the SEC. No forward-looking statement can be guaranteed, and actual results may differ materially from those projected. Cyngn undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. Readers are cautioned that it is not possible to predict or identify all the risks, uncertainties and other factors that may affect future results.
Carolyne Sohn
Vice President, The Equity Group
csohn@equityny.com
(415) 568-2255
Cyngn has entered into a securities purchase agreement with certain institutional and accredited investors for aggregate gross proceeds of $20...
Cyngn closes previously announced private placement pursuant to a securities purchase agreement entered into on April 28, 2022.
With multiple partners already signed, Cyngn’s DriveMod solutions are now better positioned to reach a growing base of new customers across North...