Monday, July 22, 2024

Indian Patent Office Approves Radvision Ltd (RVSN) Patent

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Radvision Ltd (RVSN) has successfully obtained a patent from the Indian Patent Office for its innovative “SYSTEM AND METHOD FOR OBJECT AND OBSTACLE DETECTION AND CLASSIFICATION IN COLLISION AVOIDANCE OF RAILWAY APPLICATIONS”. This significant achievement marks a pivotal step in furthering railway safety technology, with Radvision already holding the patent in the US and Japan, while awaiting approval in Europe and China.

The newly patented technology employs a sophisticated method for the detection and classification of objects and obstacles on or near railway tracks. Utilizing a combination of advanced electro-optic sensors, including thermal infrared imaging and visible band imaging sensors, the system offers comprehensive real-time surveillance and monitoring of railway environments. Radvision’s Main Line system, which integrates these sensors along with big data and AI, is mounted directly onto trains. This enables the collection of crucial data, including weather conditions, from remote areas uniquely accessible via railway.

Shahar Hania, the CEO of Rail Vision, expressed his enthusiasm about the patent’s approval, highlighting India’s extensive rail network as a significant market for their cutting-edge safety and efficiency technologies. His statement underscored Rail Vision’s dedication to improving railway operations on a global scale.

India’s vast railway system, ranked the fourth largest in the world by the India Brand Equity Foundation, encompasses over 22,593 trains, including 9,141 freight and 13,452 passenger trains. With a daily passenger volume of 24 million and an annual freight movement of 203.88 million tons, the network’s importance to India’s social and economic fabric cannot be overstated. The year 2022 saw passenger traffic surge to 3.54 billion, generating a remarkable $28.93 billion in traffic revenue for the fiscal year 2022-23, evidencing a substantial YoY growth in both passenger and freight revenues.

Jordan Clark
Jordan Clarkhttps://www.businessorbital.com/
Jordan Clark brings a dynamic and investigative approach to business reporting. Holding a degree in Business Administration and a certification in Data Analysis, Jordan has an eye for detail and a knack for uncovering the stories behind the numbers. His career began in the bustling world of Silicon Valley startups, giving him firsthand experience in tech entrepreneurship and venture capital. Jordan's reports often focus on technology's impact on business, startup culture, and emerging

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