Cyngn Releases White Paper Examining the State of Autonomous Industrial Vehicles and the Market’s Future Growth Potential

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.

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:

• Automation Is Growing- According to research by Meticulous Market Research, Inc., the Industrial Automation Market is expected to reach $306.2 billion by 2027.
• Automation Is Working- According to a recent report from Sapio Research, in some industries, industrial automation has been shown to increase productivity by 48%, and decrease operating costs by 42%.
• Automation Is Already Here- Autonomous vehicles, automation, and robotics represented 3 of the top 5 capital expenditures in key industries in 2021.

DOWNLOAD THE FULL REPORT HERE.

Carolyne Sohn
Vice President, The Equity Group
csohn@equityny.com
(415) 568-2255