AI Drives Growth and Innovation Across Multiple Tech Markets

Multimodal AI Market Skyrockets to $10,550.20 Million by 2031 Dominated by Tech Giants - Aimesoft Inc., Alphabet Inc. and Amazon Web Services Inc. | The Insight Partners

US & Canada, Nov. 28, 2024 (GLOBE NEWSWIRE) -- According to a new comprehensive report from The Insight Partners, the "Multimodal AI Market Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Component, Organization Size, Data Type, End Use, and Geography" is observing significant growth owing to the rise of multimodal AI applications in media and entertainment. For Detailed Market Insights, Visit: https://www.theinsightpartners.com/reports/multimodal-ai-market The report runs an in-depth analysis of market trends, key players, and future opportunities. In general, the Multimodal AI market comprises a vast array of component, organization size, data type, end use, and geography, which are expected to register strength during the coming years. For More Information and To Stay Updated on The Latest Developments in The Multimodal AI Market, Download The Sample Pages: https://www.theinsightpartners.com/sample/TIPRE00038959/ Market Overview and Growth Trajectory: Multimodal AI Market Growth: According to an exhaustive report by The Insight Partners, the Multimodal AI Market is experiencing significant growth, driven by surging application in healthcare sector and continuous efforts made to improve the performance of self-driving cars. The market, valued at $893.5 Million in 2023, is expected to grow at a Compound Annual Growth Rate (CAGR) of 36.2% during 2023-2031. Application in media and entertainment: The media and entertainment industries are striving to meet the evolved consumer demands for personalized content as well as an unlimited selection of OTT and streaming services. Multimodal AI can create and understand content in multiple formats or modes, including text, graphics, audio, and video. It employs various AI techniques, including Natural Language Processing (NLP), Computer Vision, Speech Recognition, Machine Learning, and Large Language Models (LLMs), to process data in multiple forms and discover new features that emerge from the combination of data obtained from numerous sources. Multimodal AI simplifies different aspects, boosts prediction accuracy, improves resource utilization efficiencies, and delivers enhanced user experience. Media and entertainment organizations can profit greatly from multimodal AI technologies to streamline business processes. In 2024, Google revealed Veo, an AI-powered video generator, for creating videos longer than a minute. According to its claim, Veo can produce 1080p definition videos in a variety of cinematic and visual styles. The company also introduced Imagen 3, an update to its text-to-image generating model. Multimodal AI can record tones and render details in extended prompts, as well as interpret natural language and visual semantics. Thus, the expanding application of multimodal AI in the media and entertainment sector is creating ample opportunities in the multimodal AI market. Stay Updated on The Latest Multimodal AI Market Trends: https://www.theinsightpartners.com/sample/TIPRE00038959/ Regional and Country Insight: In healthcare, multimodal AI is revolutionizing diagnostics, treatment, and patient care. Germany, the UK, and France are pioneering the adoption of multimodal AI in healthcare among all European countries. The growth of the multimodal AI market in Europe, specifically in the healthcare sector, is attributed to the need for advanced diagnostic tools, the increasing complexity of medical data, and the rising demand for personalized healthcare solutions. Significant investments in AI infrastructure, supportive government policies, and collaborations between tech companies and healthcare institutions are also contributing to the market in European countries. For instance, in June 2023, the European Commission, along with Member States and 128 partners from industry, research, and public organizations, unveiled an investment worth US$ 238.34 million in 4 sectoral testing and experimentation facilities (TEFs) for AI, including the TEF-Health. TEF-Health focuses on machine learning (ML) in medical imaging, complex brain simulations, and the use of robotics in intervention and rehabilitation, among other aspects. In March 2024, the Science and Technology Facilities Council (STFC) Hartree Centre and the Mersey Care NHS Foundation Trust announced a strategic partnership to advance AI in healthcare across the trust to optimize patient outcomes. Thus, technological progress in the healthcare sector benefits the multimodal AI market in Europe. Geographical Insights: North America held a substantial market revenue share in 2023, followed by Europe and Asia Pacific. Purchase Premium Copy of Global Multimodal AI Market Size and Growth Report (2023-2031) at: https://www.theinsightpartners.com/buy/TIPRE00038959/ Multimodal AI Market Segmentation, Applications, Geographical Insights: Based on component, the multimodal AI market is segmented into solution and services. The solution segment dominated the market in 2023. In terms of organization size, the multimodal AI market is segmented into SMEs and large enterprises. The large enterprises segment dominated the market in 2023. Based on data type, the market is segmented into audio and video, image, and text. The audio and video segment dominated the market in 2023. Based on end use, the market is segmented into automotive and transportation, BFSI, e-commerce and retail, healthcare, IT and telecom, media and entertainment, and others. The BFSI segment dominated the market in 2023. The multimodal AI market is segmented into five major regions: North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America. For Region-Specific Market Data, Check Out Brief Sample Pages: https://www.theinsightpartners.com/sample/TIPRE00038959/ Key Players and Competitive Landscape: The Multimodal AI Market is characterized by the presence of several major players, including: Aimesoft Inc.Alphabet Inc.Amazon Web Services Inc.IBM CorporationJina AI GmbHMeta Platforms Inc.Microsoft CorporationOpenAI LLCTwelve Labs Inc.Uniphore Technologies Inc. These companies are adopting strategies such as new product launches, joint ventures, and geographical expansion to maintain their competitive edge in the market. Multimodal AI Market Recent Developments and Innovations: "Openstream.ai, a leading provider of neuro-symbolic, plan-based multimodal conversational AI platform and solutions for visionaries, announced the expansion of its multimodality patent portfolio with the issuance of the patent entitled "System and Method for Automated Digital Twin Behavior Modeling for Multimodal Conversations." "Reka, an AI research and product company, selected Oracle Cloud Infrastructure (OCI) to support its mission to advance science and build generative AI models for the benefit of humanity and enterprises. In collaboration with Oracle, Reka also plans to make its multimodal models, supporting over 20 languages and trained on OCI AI Infrastructure powered by NVIDIA GPUs, available in the Oracle Cloud Marketplace." For In-Depth Market Forecasts and Analysis, Request PDF Brochure: https://www.theinsightpartners.com/sample/TIPRE00038959/ Conclusion: With the rapid growth of technology, Artificial Intelligence (AI) has emerged as a game changer. AI offers significant benefits to the workplace. The AI market is exploding, with specific AI trends at the forefront, including multimodal AI models, which are particularly gaining traction. The healthcare sector is one of the most significant benefactors of multimodal AI. Precision diagnoses are now possible owing to conversational AI language and enormous knowledge databases, as well as machine perception models' picture and pattern recognition abilities. Doctors employ a variety of tools to diagnose illnesses, including typed notes and photographs effectively. By absorbing all of these data sources and combining them with superior machine learning capabilities, multimodal AI has the potential to help with predictive modeling and patient treatment. Google, Amazon, and Meta are leveraging the capabilities of AI models to manipulate large data sets and improve their services. These companies are investing heavily in the development and implementation of complex systems to improve their products and services. Services such as Siri, Alexa, and Google Assistant rely heavily on multimodal artificial intelligence models. The systems evaluate user interactions, including speech and text, to provide exact responses and learn behavioral patterns for subsequent interactions. Thus, such AI model applications signal a new era of digital personal assistants that interact in increasingly humanlike ways. Need A Diverse Region or Sector? Customize Research to Suit Your Requirement: https://www.theinsightpartners.com/inquiry/TIPRE00038959/ With projected growth to $10,550.20 Million by 2031, the Multimodal AI Market represents a significant opportunity for multimodal AI solution and service providers, system integrators, and end-users. By staying abreast of market trends, embracing innovation, and focusing on quality and performance, companies can position themselves for success in this dynamic and evolving market landscape. About Us: The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials. Contact Us: If you have any queries about this report or if you would like further information, please contact us: Contact Person: Ankit Mathur E-mail: ankit.mathur@theinsightpartners.com Phone: +1-646-491-9876 Press Release: https://www.theinsightpartners.com/pr/multimodal-ai-market If you have any queries about this report or would like further information, please contact us: Contact Person: Ankit Mathur E-mail: ankit.mathur@theinsightpartners.com North America : +1-646-491-9876 UK : +44-20-8125-4005 Asia-Pacific : +91-20-69018686 JAPAN : +81-90-4000-4380 Market News and Data brought to you by Benzinga APIs

Automotive Transmission Systems Market to grow by USD 53.2 Billion (2024-2028), driven by increased adoption of automatic transmissions, with AI shaping trends - Technavio

Enter your email to get Benzinga's ultimate morning update: The PreMarket Activity Newsletter NEW YORK, Dec. 4, 2024 /PRNewswire/ -- Report on how AI is redefining market landscape - The global automotive transmission systems market size is estimated to grow by USD 53.2 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 6.08% during the forecast period. Growing adoption of automatic transmission in vehicles is driving market growth, with a trend towards development of auto-shift manual transmission systems with adaptive transmission control. However, erratic gear shifts resulting in whining and grinding noise due to wear and tear poses a challenge. Key market players include Aichi Machine Industry Co. Ltd., AISIN CORP., Allison Transmission Holdings Inc., Bonfiglioli Riduttori Spa, BorgWarner Inc., Continental AG, Eaton Corp. Plc, General Motors Co., GKN Ltd., Honda Motor Co. Ltd., Hyundai Motor Co., Magna International Inc., Marelli Holdings Co. Ltd., Nissan Motor Co. Ltd., Renault SAS, Schaeffler AG, Volkswagen AG, WeiChai Holding Group Co. Ltd., Xtrac Ltd., and ZF Friedrichshafen AG. AI-Powered Market Evolution Insights. Our comprehensive market report ready with the latest trends, growth opportunities, and strategic analysis- View Free Sample Report PDF Forecast period 2024-2028 Base Year 2023 Historic Data 2018 - 2022 Segment Covered Vehicle Type (Passenger and Commercial), Type (Manual and Automatic), and Geography (APAC, Europe, North America, South America, and Middle East and Africa) Region Covered APAC, Europe, North America, South America, and Middle East and Africa Key companies profiled Aichi Machine Industry Co. Ltd., AISIN CORP., Allison Transmission Holdings Inc., Bonfiglioli Riduttori Spa, BorgWarner Inc., Continental AG, Eaton Corp. Plc, General Motors Co., GKN Ltd., Honda Motor Co. Ltd., Hyundai Motor Co., Magna International Inc., Marelli Holdings Co. Ltd., Nissan Motor Co. Ltd., Renault SAS, Schaeffler AG, Volkswagen AG, WeiChai Holding Group Co. Ltd., Xtrac Ltd., and ZF Friedrichshafen AG Key Market Trends Fueling Growth The Automotive Transmission Systems Market is witnessing significant trends in response to global concerns over carbon emissions and the shift towards renewable energy. Developed countries are implementing the Green Deal and phasing out coal-fired boilers in favor of industrial boilers powered by steam, hot water, oil, gas, or biomass. Incentives and subsidies are driving the adoption of renewables, biofuels, and biomass boilers in industrial facilities. Despite these advancements, industries face challenges such as inflation, oil prices, and downtime due to damaged boilers, which result in heavy expenses and closure of commercial spaces. Boiler efficiency and running costs are crucial factors in the selection of fuel type and boiler horsepower. The petrochemical industry, refineries, and metal manufacturing plants are major consumers of steam generating boilers. The transition towards carbon neutrality necessitates the production of boilers that use clean fuels like natural gas, hydrogen, and biomass. The application segments, including refinery, chemical, food processing, pulp & paper, primary metal, and power, are undergoing rapid industrialization, leading to stringent laws against harmful emissions from fossil fuel segment counterparts. Installation costs, labor costs, miscellaneous expenses, and downtime are significant concerns for industries. Industrial boiler efficiency, operating cost, and energy efficiency are essential factors in the decision-making process. Fuel type, fuel price, and availability also influence the choice of boiler. In developing nations, the focus is on reducing CO2 emissions from coal plants and promoting the use of non-fossil fuels like biomass, hydrogen, and natural gas. The textile, FMCG, and agribusiness industries are adopting steam generating boilers for their production processes. The application segment includes distilleries, craft distilling, and petrochemical plants, which require specialized boilers. Equipment dealers and brokers play a crucial role in the market by providing solutions tailored to the unique needs of various industries. The market is expected to grow, driven by the increasing demand for energy efficiency and the shift towards cleaner fuels. The automotive industry experiences significant advancements, driven by innovative transmission technologies. CVT and DCT systems are gaining traction, replacing traditional hydraulic automatic transmission systems. These modern technologies offer smoother gear shifts and improved fuel efficiency. Furthermore, auto-shift manual transmission systems are emerging, combining the advantages of automatic and manual transmissions. Utilizing shift-by-wire electronic control systems, these systems eliminate the need for manual gear shifting levers, promising flexibility and enhanced performance. The global automotive market is witnessing in demand for these advanced transmission systems. Insights on how AI is driving innovation, efficiency, and market growth- Request Sample! Market Challenges The Automotive Transmission Systems Market faces various challenges in the current business landscape. Carbon emissions are a significant concern, with renewable energy and steam emerging as viable alternatives. Inflation and oil prices impact the operating costs, making industrial efficiency a priority. The European Green Deal aims to phase out coal-fired and industrial boilers, offering incentives and subsidies for renewables, biofuels, and biomass boilers. Fuel type and boiler horsepower are crucial factors in the decision-making process for industries, including the petrochemical industry, refineries, and power plants. Industries in developed countries grapple with stringent emission control laws, high installation and labor costs, miscellaneous expenses, and downtime due to damaged boilers. Heavy expenses from electricity bills and closure of industries pose a threat. Industrial facilities in developing nations face similar challenges, with additional hurdles like carbon neutrality targets and the need for energy efficiency. Steam generating boilers find applications in various industries, such as refinery, chemical, food processing, pulp & paper, primary metal, and textile. Running costs and energy efficiency are essential considerations, with steam generating boilers offering advantages over coal-based counterparts. Natural gas and biomass are popular fuel types, with hydrogen firing gaining traction. Fuel costs, running costs, and environmental emissions are critical factors for industries. The application segments include distilleries, craft distilling, petrochemical plants, and petroleum refineries. Steel mills and fossil fuel segment industries face challenges from deformation, stress corrosion, welding issues, and hydrogen embrittlement. In conclusion, the Automotive Transmission Systems Market faces numerous challenges, including carbon emissions, renewable energy, inflation, oil prices, Green Deal, coal-fired boilers, industrial boiler efficiency, operating cost, water-tube boilers, hot water boilers, oil fired boilers, fuel type, boiler horsepower, petrochemical industry, gas boilers, coal plants, CO2 emissions, clean fuels, hydrogen firing, developing nations, industrial facilities, positive environment, industries, installation costs, labor costs, miscellaneous expenses, downtime, damaged boiler, electricity bills, closure of industries, commercial spaces, production of boilers, carbon neutrality, natural gas, feedstock, steam generating boilers, application, refinery, chemical, food processing, pulp & paper, primary metal, fuel, running costs, energy efficiency, coal-based counterparts, metal manufacturing plants, chemicals, rapid industrialization, food and beverage, petrochemical, power, pipes, fuels, oil and gas, fossil, non-fossil, biomass, textile, FMCG, industrial plants, mega power projects, boiler rules, environmental emissions, materials, deformation, stress corrosion, welding issues, hydrogen embrittlement, application segment, distilleries, craft distilling, petrochemical plants, petroleum refineries, steel mills, fossil fuel segment, non-fossil fuels, biomass fuel, bagasse, sugarcane, sorghum stalks, automotive, agribusiness, Parker Boiler, equipment dealers, and brokers.Automatic Transmission Systems (ATS), specifically Advanced Manual Transmission systems like Dual Clutch Transmissions (DCT), present unique challenges in diagnosis due to their complex design and functionality. A common issue is contaminated transmission fluid, which can cause transmission slipping. In a DCT system, planetary gears are utilized for gear shifting, connecting to input and output shafts. The gear shift occurs through a dual-clutch system and bands, which rely on DCT fluid activation. Worn-out clutches or bands result in harder gear shifts and extended engine revving. As a professional, it's crucial to address these issues promptly to ensure optimal vehicle performance. Insights into how AI is reshaping industries and driving growth- Download a Sample Report Segment Overview This automotive transmission systems market report extensively covers market segmentation by Vehicle Type1.1 Passenger1.2 CommercialType 2.1 Manual2.2 AutomaticGeography 3.1 APAC3.2 Europe3.3 North America3.4 South America3.5 Middle East and Africa 1.1 Passenger- The global automotive transmission systems market is experiencing steady growth in the passenger cars segment. This growth is driven by rising consumer demand for advanced transmission systems, particularly automated gearboxes like CVTs and DCTs. These systems offer advantages such as improved fuel efficiency and smoother, quicker gear shifts. The passenger cars segment dominates global automobile sales due to urbanization and increasing disposable income in emerging economies. As disposable income rises in countries like Brazil, India, China, South Africa, UAE, Qatar, and Saudi Arabia, the demand for passenger cars follows suit. However, increasing vehicle numbers lead to pollution and emissions, prompting regulatory pressure on automotive OEMs to reduce vehicular emissions. In response, OEMs are implementing lightweighting strategies, reducing vehicle weight through fewer components and lightweight materials. Advanced transmission systems contribute to improved fuel economy, making them a key adoption driver in the passenger cars segment. This trend is expected to continue, fueling market growth during the forecast period. Download complimentary Sample Report to gain insights into AI's impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2018 - 2022) Research Analysis The Automotive Transmission Systems Market is experiencing significant changes due to various factors. With the growing concern for carbon emissions, there is a shift towards renewable energy sources for powering transmission systems in industrial facilities. Steam transmission systems are gaining popularity as they offer a positive environment impact and are more energy-efficient compared to traditional systems. However, inflation and oil prices pose challenges to the market, increasing installation costs, labor costs, and miscellaneous expenses. Downtime due to maintenance or damaged boilers can result in heavy expenses. Industries such as food and beverage, petrochemical, power, and oil and gas are major consumers of transmission systems, but stringent laws against harmful emissions are driving the need for more efficient and cleaner technologies. The complex network of pipes and fuels used in these systems adds to the complexity and cost of operation. Market Research Overview The Automotive Transmission Systems Market is experiencing significant changes as the global focus shifts towards reducing carbon emissions and embracing renewable energy. Traditional steam transmission systems are being replaced with more efficient and eco-friendly alternatives. Factors such as inflation, oil prices, and stringent environmental regulations are driving this transition. The European Green Deal, for instance, aims to make the EU carbon neutral by 2050, leading to the closure of coal-fired and industrial boilers in favor of cleaner fuels like natural gas, biomass, and hydrogen. Industrial boiler efficiency and operating costs are crucial considerations in this transition, with water-tube boilers, hot water boilers, and oil-fired boilers being popular choices based on fuel type and boiler horsepower. The petrochemical industry, refineries, chemical plants, food processing, pulp & paper, primary metal, and various other industries are adopting steam generating boilers to meet their energy needs. The application segments, including refineries, petrochemical plants, steel mills, and fossil fuel segment, are transitioning towards non-fossil fuels like biomass, bagasse, sorghum stalks, and hydrogen firing. The transition towards carbon neutrality comes with heavy expenses, including installation costs, labor costs, miscellaneous expenses, downtime, and damaged boiler repairs. Despite these challenges, industries are investing in this positive environmental change, with incentives and subsidies playing a significant role in the adoption of renewable energy and eco-friendly transmission systems. Table of Contents: 1 Executive Summary 2 Market Landscape 3 Market Sizing 4 Historic Market Size 5 Five Forces Analysis 6 Market Segmentation Vehicle TypePassengerCommercialTypeManualAutomaticGeographyAPACEuropeNorth 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/ View original content to download multimedia:https://www.prnewswire.com/news-releases/automotive-transmission-systems-market-to-grow-by-usd-53-2-billion-2024-2028-driven-by-increased-adoption-of-automatic-transmissions-with-ai-shaping-trends---technavio-302321194.html SOURCE Technavio Market News and Data brought to you by Benzinga APIs

Light Detection and Ranging (LiDAR) Market to grow by USD 6.62 Billion from 2024-2028, expanded applications driving revenue, AI redefining trends - Technavio

NEW YORK, Dec. 4, 2024 /PRNewswire/ -- Report with market evolution powered by AI - The global light detection and ranging (LIDAR) market size is estimated to grow by USD 6.62 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 28.82% during the forecast period. Expanding application areas of LiDAR technology is driving market growth, with a trend towards development of lidar sensors based on continuous-wave frequency modulation (CWFM) technology. However, high cost of lidar sensors poses a challenge. Key market players include DENSO Corp., FARO Technologies Inc., GMR Infrastructure Ltd., Hexagon AB, Innoviz Technologies Ltd., LeddarTech Inc., Luminar Technologies Inc., Ouster Inc., Phoenix LiDAR Systems, Quanergy Systems Inc., RIEGL Laser Measurement Systems GmbH, Robert Bosch GmbH, RoboSense, SICK AG, SureStar, Teledyne Technologies Inc., Trimble Inc., Valeo SA, YellowScan, and Zephir Ltd.. AI-Powered Market Evolution Insights. Our comprehensive market report ready with the latest trends, growth opportunities, and strategic analysis- View Free Sample Report PDF Forecast period 2024-2028 Base Year 2023 Historic Data 2017 - 2021 Segment Covered Application (Corridor mapping, Engineering, ADAS and driverless cars, Environment, and Others), Product (Airborne LiDAR and Terrestrial LiDAR), and Geography (North America, Europe, APAC, Middle East and Africa, and South America) Region Covered North America, Europe, APAC, Middle East and Africa, and South America Key companies profiled DENSO Corp., FARO Technologies Inc., GMR Infrastructure Ltd., Hexagon AB, Innoviz Technologies Ltd., LeddarTech Inc., Luminar Technologies Inc., Ouster Inc., Phoenix LiDAR Systems, Quanergy Systems Inc., RIEGL Laser Measurement Systems GmbH, Robert Bosch GmbH, RoboSense, SICK AG, SureStar, Teledyne Technologies Inc., Trimble Inc., Valeo SA, YellowScan, and Zephir Ltd. Key Market Trends Fueling Growth The LiDAR market is experiencing significant growth due to increasing demand for 3D imagery and mapping applications. This technology, which uses laser scanner technology to create digital elevation models, is trending in various sectors including military and defense, civil engineering, city planning, environmental monitoring, and weather monitoring. Airborne and terrestrial LiDAR are popular choices for corridor mapping and topographical surveys. Innovations such as MEMS scanners and electromechanical systems are driving advancements in LiDAR technology. The technology is also being used in industries like oil and gas, energy, aerospace and defense, healthcare, construction, and smart infrastructure. Applications include collision avoidance systems, driver assistance systems, 4D technology, and 3D imaging. New sensors like PlusDrive and next-generation LiDAR are being developed for autonomous vehicles, unmanned aircraft systems, smart grids, and advanced geospatial solutions. Other emerging applications include urban planning, disaster response, infrastructure monitoring, robotics, aerial surveying, and biomass estimation. LiDAR technology is also used in geomatics, meteorological physics, archeology, geomorphology, coastal geospatial services, wildlife ecosystems, and seismology. LiDAR (Light Detection and Ranging) market participants are focusing on enhancing the measurement technology of LiDAR sensors. Current LiDAR sensors employ a time-of-flight method to determine the time and distance taken by laser beams to hit targets and return. However, next-generation LiDAR sensors are under development, utilizing continuous-wave frequency-modulated (CWFM) technology. This advanced approach sends continuous laser beams towards targets, which are then split into two. One beam travels to the target and bounces back, while the other remains constant. The recombined beams' frequency shift upon interaction with the target provides more precise distance measurements. This innovation could potentially improve LiDAR sensors' accuracy and efficiency in various industries, such as autonomous vehicles and surveying. Insights on how AI is driving innovation, efficiency, and market growth- Request Sample! Market Challenges The Light Detection and Ranging (LiDAR) market is experiencing significant growth due to its application in various industries. Key sectors include 3D imagery and mapping for corridor mapping, topographical surveys, city planning, and environmental monitoring. LiDAR technology, which includes laser scanner technology and photogrammetry, is used in airborne and terrestrial applications. It's crucial in military and defense, civil engineering, construction, energy, oil and gas, environmental sector, aerospace and defense, healthcare, and more. LiDAR is used for creating digital elevation models, 3D imaging, and 4D technology. It's also employed in weather monitoring, oil sand monitoring, localization, collision avoidance systems, driver assistance systems, and smart infrastructure. New technologies like MEMS scanner, electromechanical system, and 2 next-generation sensors are driving innovation in LiDAR. Applications include autonomous vehicles, unmanned aircraft systems, smart grids, advanced geospatial solutions, urban planning, disaster response, infrastructure monitoring, robotics, aerial surveying, and more. LiDAR sensors, detectors, scanning mechanisms, cameras, radars, and aerial surveying services are essential components of this market. Short-range LiDAR is gaining popularity in smart mobility and biomass estimation.The high cost of LiDAR sensors remains a significant barrier to their widespread adoption in various industries. For instance, the Velodyne HDL-64 LiDAR sensor, which was priced at approximately USD75,000 in 2015, is a significant investment. However, Velodyne offers more affordable alternatives, such as their 32 and 16 laser LiDAR models, priced between USD7,000 and USD8,000. Despite recent cost reductions, the price point is still a challenge for mass adoption. According to industry data, LiDAR sensor costs are expected to decrease substantially due to mass production. This trend is supported by companies like Quanergy Systems Inc., further boosting the global LiDAR market's growth potential. Insights into how AI is reshaping industries and driving growth- Download a Sample Report Segment Overview This light detection and ranging (lidar) market report extensively covers market segmentation by Application 1.1 Corridor mapping1.2 Engineering1.3 ADAS and driverless cars1.4 Environment1.5 OthersProduct 2.1 Airborne LiDAR2.2 Terrestrial LiDARGeography 3.1 North America3.2 Europe3.3 APAC3.4 Middle East and Africa3.5 South America 1.1 Corridor mapping- In the fields of corridor mapping and pipeline inspection, LiDAR technology has become an essential tool for businesses due to its cost-effectiveness and time efficiency. For instance, in corridor mapping, LiDAR is used for mapping highways, oil and gas pipelines, and railway lines, providing valuable data for planning, execution, and monitoring. In transmission line inspection, airborne LiDAR systems are increasingly adopted for mapping and inspecting electricity transmission lines, reducing the need for expensive and time-consuming manual inspections. Similarly, in oil and gas pipeline inspection, airborne LiDAR systems are used for mapping pipeline environments and detecting leaks. Companies like YellowScan and Leica Geosystems offer LiDAR solutions for corridor mapping, and the increasing demand for these solutions is driving the growth of the corridor mapping segment of the global LiDAR market. Utilities and pipeline operators are opting for LiDAR-based drone inspection services to ensure accurate mapping results and reduce the frequency of costly repairs. Download complimentary Sample Report to gain insights into AI's impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2017 - 2021) Research Analysis The Light Detection and Ranging (LiDAR) market encompasses innovative technologies that utilize laser scanner systems to generate high-resolution 3D imagery, 3D mapping, and digital elevation models. LiDAR technology employs laser scanning in both airborne and terrestrial applications to capture precise data for various industries. The technology's 4D capabilities enable the measurement of not only spatial dimensions but also temporal changes, making it an essential tool for advanced geospatial solutions. LiDAR systems come in various forms, including MEMS scanners and electromechanical systems, catering to diverse applications. This technology plays a crucial role in smart grids, urban planning, disaster response, environmental monitoring, smart city planning, and infrastructure monitoring. LiDAR's ability to provide accurate and detailed information makes it an indispensable technology for industries seeking advanced solutions in geospatial data acquisition. Market Research Overview The Light Detection and Ranging (LiDAR) market encompasses technologies and applications that utilize laser scanning to create three-dimensional imagery, mapping, and digital elevation models. LiDAR technology is employed in various sectors, including topographical surveys, civil engineering, city planning, environmental monitoring, weather monitoring, oil sand monitoring, localization, and more. The technology is used in both airborne and terrestrial applications, with laser scanners being the primary tool for data acquisition. LiDAR is integral to corridor mapping, military and defense, aerospace and defense, healthcare, construction, energy, environmental sector, oil and gas, smart infrastructure, seismology, geomatics, meteorological physics, archeology, geomorphology, coastal geospatial services, wildlife ecosystems, and more. Applications include 3D imaging, collision avoidance systems, driver assistance systems, 4D technology, MEMS scanner, electromechanical systems, photogrammetry, and more. LiDAR technology is also used in autonomous vehicles, unmanned aircraft systems, smart grids, advanced geospatial solutions, urban planning, disaster response, smart city planning, infrastructure monitoring, robotics, aerial surveying, and various sensors, scanning mechanisms, cameras, radar, and aerial surveying services. Short-range LiDAR is used in smart mobility, biomass estimation, and other emerging applications. Table of Contents: 1 Executive Summary 2 Market Landscape 3 Market Sizing 4 Historic Market Size 5 Five Forces Analysis 6 Market Segmentation ApplicationCorridor MappingEngineeringADAS And Driverless CarsEnvironmentOthersProductAirborne LiDARTerrestrial LiDARGeographyNorth AmericaEuropeAPACMiddle East And AfricaSouth America 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/ View original content to download multimedia:https://www.prnewswire.com/news-releases/light-detection-and-ranging-lidar-market-to-grow-by-usd-6-62-billion-from-2024-2028--expanded-applications-driving-revenue-ai-redefining-trends---technavio-302321013.html SOURCE Technavio Market News and Data brought to you by Benzinga APIs

Smart Buildings Market to grow by USD 64.84 Billion (2024-2028), driven by the need for building automation, with AI powering market evolution - Technavio

Enter your email to get Benzinga's ultimate morning update: The PreMarket Activity Newsletter NEW YORK, Dec. 4, 2024 /PRNewswire/ -- Report on how AI is driving market transformation - The global smart buildings market size is estimated to grow by USD 64.84 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 10.61% during the forecast period. Growing need for building automation to enhance business outcomes is driving market growth, with a trend towards increasing integration of iot with building automation software. However, challenges in integrating building automation software coupled with interoperability issues poses a challenge. Key market players include ABB Ltd., Advantech Co. Ltd., BuildingLogiX, Cisco Systems Inc., Delta Electronics Inc., Emerson Electric Co., Honeywell International Inc., International Business Machines Corp., Johnson Controls, L and T Technology Services Ltd., Legrand SA, Panasonic Holdings Corp., Robert Bosch GmbH, RTX Corp., Schneider Electric SE, Siemens AG, Smarteh d.o.o., Snap One LLC, Softdel System Pte. Ltd., Switch Automation, and Verdigris Technologies Inc.. AI-Powered Market Evolution Insights. Our comprehensive market report ready with the latest trends, growth opportunities, and strategic analysis- View Free Sample Report PDF Forecast period 2024-2028 Base Year 2023 Historic Data 2018 - 2022 Segment Covered Product (BMS, HVAC, Lighting control, Security and access control, and Others), Component (Software, Hardware, and Services), and Geography (North America, Europe, APAC, South America, and Middle East and Africa) Region Covered North America, Europe, APAC, South America, and Middle East and Africa Key companies profiled ABB Ltd., Advantech Co. Ltd., BuildingLogiX, Cisco Systems Inc., Delta Electronics Inc., Emerson Electric Co., Honeywell International Inc., International Business Machines Corp., Johnson Controls, L and T Technology Services Ltd., Legrand SA, Panasonic Holdings Corp., Robert Bosch GmbH, RTX Corp., Schneider Electric SE, Siemens AG, Smarteh d.o.o., Snap One LLC, Softdel System Pte. Ltd., Switch Automation, and Verdigris Technologies Inc. Key Market Trends Fueling Growth The Smart Buildings Market is experiencing significant growth due to the integration of advanced technologies such as 5G, IoT, AI, and VR. These technologies enable resource management, energy efficiency, and improved environmental effects in both residential and commercial buildings. In urban areas, smart buildings are becoming essential components of smart cities, offering automated technologies like sensors, actuators, and microchips for space utilization and network management. Commercial segment buildings, including offices and industrial structures, are adopting AI-enabled innovations like intelligent glass, smart thermostats, and energy-efficient structures. Homeowners are also embracing smart home solutions, including smart lighting systems and home automation. Moreover, the integration of cloud computing, data analytics, and waste management solutions is crucial for effective resource management and reducing greenhouse gas emissions. Building owners prioritize security concerns, with smart security systems like access controls, video surveillance, and intrusion detection, ensuring a secure environment. Energy management, waste management, and workforce management are other significant areas of focus for smart buildings. Blockchain technology is also gaining traction for information security. The market for smart buildings is vast and includes various applications, from energy conservation in residential buildings to fire safety in industrial buildings. Non-smart buildings rely on manual control, leading to lengthy lead times and increased operational costs. Traditional building automation faces limitations due to complex wired or slow wireless connectivity between devices. The integration of IoT into building automation enhances connectivity significantly, enabling end-users to monitor multiple systems via a central hub. This innovation creates demand for advanced building automation software, driven by the expanding IoT adoption and rising Internet penetration among specific user groups. The global smart buildings market experiences growth opportunities as a result. Insights on how AI is driving innovation, efficiency, and market growth- Request Sample! Market Challenges The Smart Buildings Market is experiencing significant growth due to the integration of advanced technologies like 5G, IoT-enabled devices, AI, VR, and cloud computing. Commercial and residential building owners seek energy efficiency, resource management, and automated technologies to reduce greenhouse gas emissions and improve space utilization. Challenges include security concerns, environmental effects, and network management. 5G technology and IP enable seamless connectivity, while AI innovations optimize energy management, home automation, and waste management solutions. Smart lighting systems, intelligent security systems, fire safety, and access controls enhance the security of building premises. Energy-efficient structures, smart thermostats, intelligent glass, and smart elevators are essential components of smart buildings. Urban environments and industrial areas benefit from smart cities, smart homes, and smart lighting systems for energy conservation. Blockchain ensures information security, and smart waste management systems minimize waste. Working from home necessitates advanced network systems, heating, ventilation, and air conditioning. Sensors, actuators, microchips, and automated technologies are crucial for effective resource management and space utilization. Smart buildings cater to the commercial and residential segments, addressing the needs of urban areas and providing a secure environment for workforce management. Energy management, waste management, and network management are key areas of focus. Smart solutions for heating, ventilation, air conditioning, and lighting systems contribute to a comfortable and productive work environment.Building automation systems in smart buildings involve intricate software integration to manage multiple subsystems effectively. The complexity increases with larger structures, necessitating technical expertise. Compatibility between various hardware devices is crucial for efficient operation. Integrating legacy systems with new software can pose challenges, potentially leading to faulty installations and security vulnerabilities. Professionally managing these complexities is essential for optimizing energy usage, enhancing occupant comfort, and ensuring safety in smart buildings. Insights into how AI is reshaping industries and driving growth- Download a Sample Report Segment Overview This smart buildings market report extensively covers market segmentation by Product 1.1 BMS1.2 HVAC1.3 Lighting control1.4 Security and access control1.5 OthersComponent 2.1 Software2.2 Hardware2.3 ServicesGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa 1.1 BMS- The Building Management Systems (BMS) segment, also known as Building Automation Systems, is the largest and leading segment in the global smart buildings market. BMS integrate various standalone control and monitoring systems, including HVAC, lighting, and emergency control systems, at a single point for efficient building management. The BMS market consists of software, servers, sensors, and major components. The cost of implementing BMS ranges from USD2.50 to USD7.0 per square foot, making ROI a significant challenge. Europe and APAC are major contributors to the BMS market's growth due to increasing industrial development, commercialization, and energy efficiency awareness. In the forecast period, the BMS segment will witness high adoption in the commercial sector, high-end residential buildings, and the services sector. Rapid technological innovations, such as IoT, analytics, and cloud computing, will further fuel the adoption of BMS for effective monitoring, controlling, and operating building facilities. Download complimentary Sample Report to gain insights into AI's impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2018 - 2022) Research Analysis The Smart Buildings Market is experiencing significant growth due to the integration of advanced technologies such as 5G, IoT enabled devices, AI, and VR. These technologies enable energy efficiency, reduced greenhouse gas emissions, and improved occupant comfort in both commercial and residential buildings. Cloud computing and data analytics facilitate remote monitoring and management of smart homes and offices, enabling working from home and waste management solutions. Energy-efficient structures, intelligent glass, smart thermostats, and smart elevators are some of the innovations that contribute to energy conservation. Smart cities are also integrating smart lighting systems, fire safety, and security systems, including intelligent access controls, video surveillance, and intrusion detection, to enhance safety and productivity. Overall, the Smart Buildings Market offers numerous benefits, from automating mundane tasks to improving energy efficiency and enhancing safety and security. Market Research Overview The Smart Buildings Market is experiencing significant growth due to the integration of advanced technologies such as 5G technology, IoT enabled devices, AI, and VR. These technologies are transforming commercial and residential buildings into energy-efficient structures with improved resource management and space utilization. In urban areas, smart buildings are contributing to reducing greenhouse gas emissions by optimizing energy consumption and waste management. Cloud computing and data analytics enable real-time monitoring and automation of home automation and working from home systems. Intelligent glass, smart thermostats, and smart elevators are becoming standard features in modern buildings. AI-driven innovations are revolutionizing network management, energy management, and workforce management. Smart cities are integrating smart buildings into their infrastructure for secure environment and efficient resource management. Building owners are investing in automated technologies such as sensors, actuators, microchips, and blockchain for information security. Smart lighting systems, energy conservation, and intelligent security systems are essential components of smart buildings. Fire safety, video surveillance, access controls, theft detection, and intrusion detection are critical aspects of intelligent security systems. HVAC systems, including heating, ventilation, and air conditioning, are being optimized for energy efficiency and occupant comfort. The residential and commercial segments are driving the growth of the smart buildings market, with industrial buildings following closely. The environmental effects and security concerns of smart buildings are being addressed through advanced technologies and regulations. Table of Contents: 1 Executive Summary 2 Market Landscape 3 Market Sizing 4 Historic Market Size 5 Five Forces Analysis 6 Market Segmentation ProductBMSHVACLighting ControlSecurity And Access ControlOthersComponentSoftwareHardwareServicesGeographyNorth AmericaEuropeAPACSouth 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/ View original content to download multimedia:https://www.prnewswire.com/news-releases/smart-buildings-market-to-grow-by-usd-64-84-billion-2024-2028-driven-by-the-need-for-building-automation-with-ai-powering-market-evolution---technavio-302321206.html SOURCE Technavio Market News and Data brought to you by Benzinga APIs

Intelligent Remote Terminal Unit Market to Grow by USD 2.23 Billion (2024-2028), Driven by Industrial Remote Monitoring Needs, with AI Powering Market Evolution - Technavio

NEW YORK, Dec. 3, 2024 /PRNewswire/ -- Report on how AI is driving market transformation - The global intelligent remote terminal unit market size is estimated to grow by USD 2.23 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 7.18% during the forecast period. Growing need for remote monitoring in industrial facilities is driving market growth, with a trend towards growing adoption of scada in water monitoring. However, inadequate cybersecurity measures in scada systems poses a challenge. Key market players include ABB Ltd., Advantech Co. Ltd., Eaton Corp. Plc, Emerson Electric Co., Enilit Ltd., General Electric Co., Honeywell International Inc., ICP DAS CO. LTD., Kalki Communication Technologies Pvt. Ltd., Mitsubishi Electric Corp., Motorola Solutions Inc., Moxa Inc., Remsdaq Ltd., Schneider Electric SE, Schweitzer Engineering Laboratories Inc., Siemens AG, Spectris Plc, WAGO GmbH and Co. KG, Westercom s.r.o, and Yokogawa Electric Corp.. AI-Powered Market Evolution Insights. Our comprehensive market report ready with the latest trends, growth opportunities, and strategic analysis- View Free Sample Report PDF Forecast period 2024-2028 Base Year 2023 Historic Data 2018 - 2022 Segment Covered End-user (Oil and gas, Power generation, Chemical, Water and wastewater, and Others), Type (Wireless intelligent RTU and Wired intelligent RTU), and Geography (Europe, North America, APAC, Middle East and Africa, and South America) Region Covered Europe, North America, APAC, Middle East and Africa, and South America Key companies profiled ABB Ltd., Advantech Co. Ltd., Eaton Corp. Plc, Emerson Electric Co., Enilit Ltd., General Electric Co., Honeywell International Inc., ICP DAS CO. LTD., Kalki Communication Technologies Pvt. Ltd., Mitsubishi Electric Corp., Motorola Solutions Inc., Moxa Inc., Remsdaq Ltd., Schneider Electric SE, Schweitzer Engineering Laboratories Inc., Siemens AG, Spectris Plc, WAGO GmbH and Co. KG, Westercom s.r.o, and Yokogawa Electric Corp. Key Market Trends Fueling Growth The global population growth and urbanization have led to a significant increase in the demand for water. With the depletion of new freshwater resources, there is a pressing need for water infrastructure sustainability through Supervisory Control and Data Acquisition (SCADA) systems. Water reuse and recycling are becoming essential solutions to address the water crisis. Water utilities are investing in advanced SCADA technologies to monitor and optimize their water and wastewater plants. These systems enable utilities to monitor key assets such as pumps and filtration units, reducing energy consumption and optimizing workflow. SCADA systems analyze data from water flow rate, waste-activated sludge flow, digester temperature, and dissolved oxygen, allowing for better operational control and reduced wastage. Moreover, remote monitoring capabilities save time and costs by enabling operators to manage plants from a distance. The rising adoption of SCADA in water and wastewater treatment, driven by both developed and developing countries' needs, is expected to fuel the growth of the Intelligent Remote Terminal Unit (IRTU) market during the forecast period. The Intelligent Remote Terminal Unit (RTU) market is thriving due to the increasing demand for remote signaling, adjustment, and monitoring in various industries. Wireless terminal devices, capable of transmitting both serial port data and IP data, are trending. Central monitoring systems rely on data transmission links for format conversion and communication protocols to ensure seamless data interaction. GPRS/CDMA technologies enable remote communication, while control functions, analog input/output, and event-triggered cycles facilitate automation. Smart grids, telemetry systems, and smart city projects utilize RTUs for data collection, status monitoring, and equipment control. Abnormal alarms and fault statuses are communicated in real-time, allowing for quick response. Microprocessors, I/O devices, and power supplies power these intelligent terminal devices. Communication networks and facility monitoring systems benefit from the advanced capabilities of RTUs. Insights on how AI is driving innovation, efficiency, and market growth- Request Sample! Market ChallengesThe Intelligent Remote Terminal Unit (IRTU) market is experiencing significant growth due to the increasing adoption of advanced automation technologies in industries. However, this growth is threatened by the rising number of cybersecurity incidents. With the proliferation of connected devices, interconnections, interactions, and interfaces, industries face increased security risks. SCADA systems, used for centralized control and monitoring, are a key target for cybercriminals. The evolution of SCADA architecture, driven by the Internet and cloud technology, has increased vulnerability to cyber threats. Cyberthreats, such as ransomware attacks and distributed denial of service (DDoS) attacks, are constantly evolving. Ransomware attacks involve hacking a system and demanding a ransom, while botnets, which are networks of controlled devices, can perform DDoS attacks and spam campaigns. The Indian Computer Emergency Response Team reported a significant increase in cybersecurity incidents, from 3,94,499 in 2019 to 14,02,809 in 2021. SCADA systems need to evolve to meet these threats, with up-to-date security measures to protect against data hacking and alteration. Failure to do so can result in operational failure and significant damage to critical infrastructure.The Intelligent Remote Terminal Unit (RTU) market is witnessing significant growth due to the increasing demand for remote monitoring and control applications in various industries. Challenges such as remote signaling and adjustment, central monitoring, and wireless terminal devices require advanced data transmission links and format conversion capabilities. Communication protocols like GPRS/CDMA are essential for remote communication, while microprocessors and I/O devices enable control functions for analog input/output and event-triggered cycles. In industries such as power generation, agriculture, telecommunications, and smart city systems, data collection and status monitoring are crucial. Intelligent terminal devices facilitate remote data acquisition and operation control through communication networks. Facility monitoring, data interaction, and abnormal alarm notifications are essential for efficient and effective management. Power supplies and telemetry ensure seamless data transmission and interaction between various automation devices and smart grid systems. Insights into how AI is reshaping industries and driving growth- Download a Sample Report Segment Overview This intelligent remote terminal unit market report extensively covers market segmentation by End-user 1.1 Oil and gas1.2 Power generation1.3 Chemical1.4 Water and wastewater1.5 OthersType 2.1 Wireless intelligent RTU2.2 Wired intelligent RTUGeography 3.1 Europe3.2 North America3.3 APAC3.4 Middle East and Africa3.5 South America 1.1 Oil and gas- Intelligent Remote Terminal Units (IRTUs) are vital components in the oil and gas industry, enabling remote monitoring, control, and automation for safe and efficient operations. IRTUs are deployed at wellheads to monitor pressure, temperature, flow rates, and fluid levels, facilitating real-time production optimization and safety compliance. In tank farms, they manage inventory, optimize storage capacity utilization, and ensure safety regulations for hazardous materials. As part of Supervisory Control and Data Acquisition (SCADA) systems, IRTUs collect data from remote sites, transmit it to centralized control centers, and execute control commands, enabling centralized monitoring and control of field operations across vast areas. The increasing demand for pipeline monitoring and growing offshore exploration activities are driving the need for IRTUs, making them an essential element in the oil and gas segment of the global IRTU market. Download complimentary Sample Report to gain insights into AI's impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2018 - 2022) Research Analysis The Intelligent Remote Terminal Unit (RTU) market refers to the demand for advanced RTUs used in industrial automation and control systems. These RTUs go beyond traditional functions by integrating sensor networks, transmission networks, and IoT capabilities. The sensor network layer collects data from various sensors, while the transmission network layer ensures secure and reliable data transmission. Intelligent RTUs feature network interfaces for remote data interaction, data processing, and data storage with data encryption for security. They support communication networks like SCADA systems, telemetry, and remote control through signal input/output modules, microprocessors, and wired/wireless communication. Power supplies ensure uninterrupted operation, and these devices can function as wireless terminal devices for port data and IP data transmission. Overall, Intelligent RTUs enable efficient facility monitoring, operation control, and data management in various industries. Market Research Overview The Intelligent Remote Terminal Unit (RTU) market encompasses advanced devices used for remote data acquisition, facility monitoring, and operation control in various industries. These devices communicate with sensor networks at the Sensor Network Layer and Transmission Network Layer, ensuring seamless data interaction through Network Interfaces. The Intelligent Terminal Devices process Sensor Data and execute Control Functions, employing Microprocessors and Power Supplies for efficient performance. Communication networks, such as GPRS/CDMA, enable Remote Communication, Remote Control, Remote Signaling, and Remote Adjustment. Data Collection, Status Monitoring, Equipment Control, and Abnormal Alarm are crucial functions, while Telemetry, Central Monitoring, and Automation Devices enhance system efficiency. Applications span across Smart Grid Systems, Telemetry Systems, Smart City Systems, Power Generation, Agriculture, and Telecommunications. I/O Devices and Communication Protocols facilitate Data Transmission Links, Format Conversion, and Event-triggered Cycles. Table of Contents: 1 Executive Summary 2 Market Landscape 3 Market Sizing 4 Historic Market Size 5 Five Forces Analysis 6 Market Segmentation End-userOil And GasPower GenerationChemicalWater And WastewaterOthersTypeWireless Intelligent RTUWired Intelligent RTUGeographyEuropeNorth AmericaAPACMiddle East And AfricaSouth America 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/ View original content to download multimedia:https://www.prnewswire.com/news-releases/intelligent-remote-terminal-unit-market-to-grow-by-usd-2-23-billion-2024-2028-driven-by-industrial-remote-monitoring-needs-with-ai-powering-market-evolution---technavio-302319753.html SOURCE Technavio Market News and Data brought to you by Benzinga APIs

Property Management Market to grow by USD 11.3 Billion (2024-2028), driven by compliance with industry regulations, with AI transforming the landscape - Technavio

Enter your email to get Benzinga's ultimate morning update: The PreMarket Activity Newsletter NEW YORK, Dec. 4, 2024 /PRNewswire/ -- Report with market evolution powered by AI - The global property management market size is estimated to grow by USD 11.3 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 7.81% during the forecast period. Adherence to industry and government regulations for property listings is driving market growth, with a trend towards blockchain and smart contracts. However, changing skill requirements for the adoption of emerging technologies poses a challenge. Key market players include 360 Mango Solutions Pvt. Ltd., Amadeus IT Group SA, CBRE Group Inc., Ciirus Inc., Digital Arbitrage Ltd., Ezee Technosys Pvt. Ltd., Frontdesk Anywhere Inc., Guestline Ltd., Honeywell International Inc., Hotelogix India Pvt. Ltd., InnKey PMS, InnQuest Software, International Business Machines Corp., Koch Industries Inc., Microsoft Corp., Micro Star International Co. Ltd., Northwind Commercial Real Estate, Oracle Corp., Saaranya Hospitality Technologies Pvt. Ltd., and SAP SE. AI-Powered Market Evolution Insights. Our comprehensive market report ready with the latest trends, growth opportunities, and strategic analysis- View Free Sample Report PDF Forecast period 2024-2028 Base Year 2023 Historic Data 2017 - 2021 Segment Covered Application (Commercial, Industrial, Residential, and Recreational marinas), Component (Solutions and Services), and Geography (North America, Europe, APAC, South America, and Middle East and Africa) Region Covered North America, Europe, APAC, South America, and Middle East and Africa Key companies profiled 360 Mango Solutions Pvt. Ltd., Amadeus IT Group SA, CBRE Group Inc., Ciirus Inc., Digital Arbitrage Ltd., Ezee Technosys Pvt. Ltd., Frontdesk Anywhere Inc., Guestline Ltd., Honeywell International Inc., Hotelogix India Pvt. Ltd., InnKey PMS, InnQuest Software, International Business Machines Corp., Koch Industries Inc., Microsoft Corp., Micro Star International Co. Ltd., Northwind Commercial Real Estate, Oracle Corp., Saaranya Hospitality Technologies Pvt. Ltd., and SAP SE Key Market Trends Fueling Growth Property management is a dynamic market that caters to property owners, landlords, and real estate professionals. Urbanization drives demand for property operations, including maintenance, tenant interactions, and returns. Population growth fuels the need for residential, commercial, industrial spaces, and rental properties. Technology plays a crucial role, with digital solutions enhancing accountability through lease management, tenant communication, and customer satisfaction. Property maintenance and tenant management remain key focus areas, especially during lockdowns and economic uncertainty. Anarock Property Consultants' opportunity assessment highlights trends like smart building projects, workplace mobility, and IoT devices. Real-time data and smart buildings prioritize public safety and offer cost savings. However, financial limitations and security risks require careful consideration when deploying AR, VR technologies. Porter's Five Forces analysis reveals components like competition, supplier power, buyer power, threat of new entrants, and threat of substitutes. Cloud-based solutions cater to SMEs and large enterprises in verticals like ITES, telecommunications, banking, financial services, insurance, manufacturing, consumer goods, healthcare, entertainment, and trade. Blockchain technology is revolutionizing the property management industry by enabling faster and more secure transactions and information exchanges. Smart contracts based on this technology are becoming popular alternatives to traditional lease agreements and rent-collecting procedures. These contracts automate contract processing, saving time and effort, while adding safety and transparency to real estate transactions. Another emerging trend is property tokenization, which transforms specific properties into tokens for secure transfer between contract parties. This innovative approach streamlines transactions and opens new opportunities for real estate startups. Insights on how AI is driving innovation, efficiency, and market growth- Request Sample! Market Challenges Property management entails overseeing and maintaining real estate assets, including residential, commercial, and industrial spaces. Property owners and landlords rely on real estate professionals to ensure optimal property operations and returns. Urbanization and population growth present challenges, such as tenant interactions, maintenance, and accountability. Technology plays a crucial role, with digital solutions enhancing lease management, tenant communication, and customer satisfaction. Economic uncertainty and lockdowns necessitate adaptability and innovation. Anarock Property Consultants' opportunity assessment highlights the potential of smart building projects, workplace mobility, and IoT devices. However, financial limitations, security risks, and compliance concerns necessitate careful consideration when deploying AR, VR technologies, or IT solutions. Porter's Five Forces analysis reveals components like competition, suppliers, buyers, threats, and substitutes impacting the property management market. Organizations, from SMEs to Large Enterprises in sectors like ITES, Telecommunications, Banking, Financial Services, Insurance, Manufacturing, Consumer Goods, Healthcare, Entertainment, and Trade, grapple with these challenges.Advanced technologies, including artificial intelligence, chatbots, and machine learning, are revolutionizing the property management industry. These technologies streamline problem-solving processes, keeping customers informed and in control. By analyzing customer behavior patterns, property managers can offer customized solutions. Customer-facing applications are emerging, allowing customers to engage in the management process. Data analytics is being integrated into property management software to derive insights, better understand customer needs, and predict demand trends. These advancements enhance customer satisfaction and efficiency in property management. Insights into how AI is reshaping industries and driving growth- Download a Sample Report Segment Overview This property management market report extensively covers market segmentation by Application 1.1 Commercial1.2 Industrial1.3 Residential1.4 Recreational marinasComponent 2.1 Solutions2.2 ServicesGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa 1.1 Commercial- Commercial property management involves overseeing the administration and operation of non-residential properties, including office buildings, retail spaces, industrial facilities, and commercial complexes. The commercial segment requires specialized expertise in tasks unique to commercial real estate, such as lease negotiations, tenant retention strategies, facility maintenance, and adherence to commercial property regulations. The demand for commercial property management services has escalated due to the intricacy of managing diverse commercial real estate portfolios. Notably, the APAC region, particularly China and India, is experiencing significant growth in the commercial property sector. Cities like Shanghai and Beijing in China have witnessed increased office space requirements, with international corporations setting up operations. In the Middle East, countries such as the UAE, Saudi Arabia, and Qatar are expanding their commercial sectors with infrastructure projects and free zones. Dubai, for instance, has emerged as a global business hub, necessitating advanced commercial property management services for large office complexes, shopping malls, and industrial zones. The growth of the commercial real estate sector will continue to fuel the market's expansion in the commercial segment during the forecast period. Download complimentary Sample Report to gain insights into AI's impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2017 - 2021) Research Analysis Property management refers to the process of overseeing and maintaining real estate properties on behalf of property owners, landlords, and real estate professionals. Urbanization and population growth have led to an increased demand for property management services, encompassing residential, commercial, industrial spaces, and rental properties. Property operations include tenant interactions, maintenance, and ensuring optimal returns for property ownership experience. The property management market faces various challenges such as lockdowns and economic uncertainty. However, digital solutions are transforming the industry, enabling efficient property management through cloud-based platforms and on-premises systems. Porter's Five Forces analysis reveals component suppliers as a significant force, with ITES and real estate professionals as buyers. Deployment types include on-premises and cloud solutions, catering to organization sizes ranging from SMEs to large enterprises in the verticals of property management. Market Research Overview Property management refers to the process of overseeing and maintaining real estate properties on behalf of property owners, landlords, and real estate professionals. Urbanization and population growth have led to an increased demand for property management services, encompassing residential, commercial, industrial spaces, and rental properties. Property operations include maintenance, tenant interactions, and lease management. Technology plays a crucial role, with digital solutions offering accountability, tenant communication, and customer satisfaction. Porter's Five Forces analysis reveals components such as threat of new entrants, bargaining power of buyers, suppliers, and substitutes, and competitive rivalry. Property management solutions are deployed on-premises or in the cloud, catering to SMEs and large enterprises across various verticals like ITES, telecommunications, banking, financial services, insurance, manufacturing, consumer goods, healthcare, entertainment, and trade. The ongoing challenges of lockdowns and economic uncertainty necessitate smart building projects, workplace mobility, IoT devices, real-time data, and smart devices. Financial limitations, security risks, and compliance concerns call for innovative solutions like AR and VR technologies, data structures, IT teams, and buyer experiences. Table of Contents: 1 Executive Summary 2 Market Landscape 3 Market Sizing 4 Historic Market Size 5 Five Forces Analysis 6 Market Segmentation ApplicationCommercialIndustrialResidentialRecreational MarinasComponentSolutionsServicesGeographyNorth AmericaEuropeAPACSouth 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/ View original content to download multimedia:https://www.prnewswire.com/news-releases/property-management-market-to-grow-by-usd-11-3-billion-2024-2028-driven-by-compliance-with-industry-regulations-with-ai-transforming-the-landscape---technavio-302321199.html SOURCE Technavio Market News and Data brought to you by Benzinga APIs

AI in Energy Market worth $58.66 billion by 2030- Exclusive Report by MarketsandMarkets™

DELRAY BEACH, Fla., Dec. 3, 2024 /PRNewswire/ -- The AI in Energy Market is expected to reach USD 8.91 billion by 2024 from USD 58.66 billion in 2030, at a Compound Annual Growth Rate (CAGR) of 36.9 % from 2024-2030, according to a new report by MarketsandMarkets™. AI can help decarbonize and reduce the energy demands of the construction of buildings themselves. Cement, as the primary building material used today, represents 7-8% of global carbon emissions, according to a report published by the United States Department of Energy. AI can be used to design and optimize low-carbon cement designs, enabling accelerated materials formulation and innovation. AI can also be used to identify efficiencies in building construction. The planning and sequencing steps for building construction is a manual process and can be optimized with AI to unlock process efficiency and reduce waste at construction sites. Browse in-depth TOC on "AI in Energy Market" 394 - Tables 62 - Figures 319 - Pages Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=231720509 Scope of the Report Report Metrics Details Market size available for years 2019-2030 Base year considered 2024 Forecast period 2024-2030 Forecast units Value (USD Billion) Segments Covered By offering (solutions and services (professional services, managed services) by energy type (conventional energy (fossil fuels, nuclear energy, other conventional energy types) renewable energy (solar, wind, hydropower, biomass, other renewable energy types) by type (Generative AI, other AI), by application (energy demand forecasting, grid optimization & management, energy storage optimization, renewables integration, energy trading & market forecasting, energy sustainability management, disaster resilience and recovery, other applications (energy theft detection and customer management)) by end use (generation, transmission, distribution, consumption(commercial, industrial)) Region covered North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Companies covered Schneider Electric SE (France), GE Vernova (US), ABB Ltd (Switzerland), Honeywell International (US), Siemens AG (Germany), AWS (US), IBM (US), Microsoft (US), Oracle (US), Vestas Wind Systems A/S (Denmark), Atos zData (US), C3.ai (US), Tesla (US), Alpiq (Switzerland), Enel group (Italy), Origami Energy (UK), Innowatts (US), Irasus technologies (India), Grid4C (US), Uplight (US), GridBeyond (Ireland), eSmart Systems (Norway), Ndustrial (US), Datategy (France), Omdena (US) Based on application, the grid optimization & management segment to hold the largest market size during the forecast period. This AI in grid optimization and management enhances the strength, robustness, and efficiency of energy systems in distribution. It scans very large amounts of real-time data to detect inefficiencies, predict demand patterns, and engage in load balancing for the prevention of overload and possibilities of overloads and short-circuit outages. It adjusts grids dynamically, introduces renewable sources of energy in a very efficient manner, and minimizes energy losses in the transmission process. Moreover, AI-based automation enables faster responses to disruptions to ensure energy supply and efficiently maintain grid infrastructure. It is one of the applications that are paving the way toward modernization of the energy network and a move toward smart grids. Request Sample Pages@ https://www.marketsandmarkets.com/requestsampleNew.asp?id=231720509 The distribution segment to have the highest growth during the forecast period. AI in energy distribution improves efficiency and reliability in power delivery by optimizing grid management and reducing losses. Realtime monitoring and predictive analytics help AI detect faults, anticipate equipment failure, and smooth out the flow of electricity across the grid. It can allow utilities to balance supply and demand better, ensuring steady power delivery, even during peak usage periods. AI algorithms may also optimize voltage regulation so that power is delivered efficiently and within safe limits. Also, AI facilitates the integration of renewable energy sources into the distribution network; it balances intermittent generation sources such as solar and wind with grid needs. With improved forecasting and dynamic control from AI, waste energy is minimized, operations respond better, and it is possible to automate some features of grid maintenance, thus bringing downtime and the cost of operations down. In general, AI is revolutionizing an energy distribution system to be much smarter and more dynamic. Asia Pacific is expected to hold the highest market growth rate during the forecast period. State Power Rixin Technolog in collaboration with Huawei and China Huadian Corporation, launched a new energy meteorological power prediction solution in October 2024 in China that enhanced the prediction accuracy performance at a reduced operating cost for power plants. AI is also utilized to generate new energy efficiently and predict extreme weather impacts on renewable sources. Suola wind farm in Hebei province uses AI for intelligent control and management of wind and solar stations to become more efficient with low-cost manpower, thus achieving efficiency in service operations. In September 2024, KIER finalized its research on Urban Electrification with AI. This decreases the use of fossil fuel through integrated renewable energy in the source of energy from the city, for example, building-integrated solar technology. AI Energy Management Algorithms-in Model weather and human behavior optimize energy sharing and stabilize power grids during Low-Probability High-Impact Events. In June 2024, CSIRO collaborated with CoreLogic in launching RapidRate, the rate of AI-enabled estimation of the energy efficiency of existing homes. The CSIRO RapidRate AI tool assesses the energy efficiency of dwellings with minimal input. Utilizing a set of key factors based on floor area, orientation, and building materials, RapidRate applies the power of machine learning techniques to determine an indicative star rating consistent with the Nationwide House Energy Rating Scheme (NatHERS). Inquire Before Buying@ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=231720509 Top Key Companies in AI in Energy Market: The major vendors covered in the AI in Energy Market are Schneider Electric SE (France), GE Vernova (US), ABB Ltd (Switzerland), Honeywell International (US), Siemens AG (Germany), AWS (US), IBM (US), Microsoft (US), Oracle (US), Vestas Wind Systems A/S (Denmark), Atos zData (US), C3.ai (US), Tesla (US), Alpiq (Switzerland), Enel group (Italy), Origami Energy (UK), Innowatts (US), Irasus technologies (India), Grid4C (US), Uplight (US), GridBeyond (Ireland), eSmart Systems (Norway), Ndustrial (US), Datategy (France), Omdena (US). These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches, enhancements, and acquisitions to expand their footprint in the AI in Energy Market. Browse Adjacent Markets: Artificial Intelligence (AI) Market Research Reports & Consulting Related Reports: AI in Sports Market - Global Forecast to 2030 AI in Education Market - Global Forecast to 2030 AI Training Dataset Market- Global Forecast to 2029 AI Agents Market- Global Forecast to 2030 AI as a Service Market- Global Forecast to 2029 Get access to the latest updates on AI in Energy Companies and AI in Energy Industry About MarketsandMarkets™ MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report. MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes. The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry. To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook. Mr. Rohan Salgarkar MarketsandMarkets™ INC. 1615 South Congress Ave. Suite 103, Delray Beach, FL 33445 USA: +1-888-600-6441 Email: sales@marketsandmarkets.com Visit Our Website: https://www.marketsandmarkets.com/ Logo: https://mma.prnewswire.com/media/1951202/4609423/MarketsandMarkets.jpg View original content:https://www.prnewswire.com/news-releases/ai-in-energy-market-worth-58-66-billion-by-2030--exclusive-report-by-marketsandmarkets-302320541.html SOURCE MarketsandMarkets Market News and Data brought to you by Benzinga APIs

AI in Sports Market worth $2.61 billion by 2030 - Exclusive Report by MarketsandMarkets™

DELRAY BEACH, Fla., Nov. 28, 2024 /PRNewswire/ -- The AI in Sports Market is estimated at USD 1.03 billion in 2024 to USD 2.61­­ billion by 2030 at a compound annual growth rate (CAGR) of 16.7% from 2024 to 2030, according to a new report by MarketsandMarkets™. AI is revolutionizing the sports industry by enhancing various aspects such as player performance, fan engagement, operations, and decision-making. For instance, AI-driven player analytics are used real-time to prevent injuries, while predictive algorithms help optimize game strategies. Additionally, AI is improving fan experiences through personalized content and interactive features. The market is also evolving with the rise of smart stadiums, automatic content creation, and the integration of augmented and virtual reality. These advancements are transforming the sports sector, opening up new opportunities for growth and greater participation. Browse in-depth TOC on "AI in Sports Market" 150 - Tables 55 - Figures 300 - Pages Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=122129412 Scope of the Report Report Metrics Details Market size available for years 2019-2030 Base year considered 2024 Forecast period 2025-2030 Forecast units Value (USD) Billion Segments Covered By Offering, Technology, Sports Type, End User, and Region Region covered North America, Europe, Asia Pacific, Middle East & Africa, and Latin America Companies covered The major players in the AI in Sports Market are Cisco Systems (US), IBM (US), Intel (US), Microsoft (US), AWS (US), SAP SE (Germany), Ericsson (Sweden), Oracle (US), Stats Perform (US), Tech Mahindra (India), Sportradar AG (Switzerland), HCL Technologies (India), Extreme Networks (US), Salesforce (US), SAS Institute (US), Catapult Group (Australia), Genius Sports (UK), Kitman Labs (Ireland), PlaySight (Israel), Quantiphi (US), SciSports (Netherlands), Spiideo (Sweden), Sportlogiq (Canada), ChyronHego Corporation (US), TruMedia Networks (US) By Sports Type, e-Sports is expected to hold the highest growth rate during the forecast period. The e-sports sector is expected to grow significantly faster than other gaming categories, primarily due to its digital nature, which allows AI technologies to be seamlessly integrated into the virtual environment. For example, AI competitors developed by Google and OpenAI have been used in high-profile contests, such as the Dota 2 competition, where an OpenAI bot played against professional gamers. Moreover, performance evaluation has also become more efficient with AI systems that focus on analytics. AI has revolutionized performance evaluation in e-sports by analyzing large datasets to identify trends and opponent strategies. e-Sports teams use this data to refine their gameplay in real time. Mobalytics, an American e-sports company, for instance, leverages AI to provide personalized insights, helping gamers improve their performance by highlighting strengths and areas for growth. Request Sample Pages@ https://www.marketsandmarkets.com/requestsampleNew.asp?id=122129412 Furthermore, AI is also transforming the experience of players in virtual games. Anaconda, an operating system for AI, supports AHDS (Artificial Human Decision Systems) by making content recommendations and facilitating chat moderation on platforms like Twitch, enhancing the quality of the gaming experience. Adopting AI-driven systems is particularly beneficial given the highly informed and digitally active audience of e-Sports. This quick and seamless integration helps grow the market by attracting more players and enhancing their engagement. Based on End User, Sports Teams segment will hold the largest market size during the forecast period. The sports teams segment is projected to account for the largest market size in AI in Sports Market during the forecast period owing to its actual implementation in enhancing performance, conceptualizing strategies, and engaging fans. Teams have begun employing AI-driven systems such as performance analysis systems and injury preventive systems to remain competitive. For instance, Manchester City, a football team, applies the tactical analysis of AI where they can change strategies during a match. Moreover, AI is improving decision-making in data-intensive areas such as talent scouting. For example, systems like IBM's Watsonx assess a player's potential based on statistics and determine which teams would be the best fit. Wearable technologies in sports, such as those from Catapult Sports, use intelligent AI systems to monitor a player's on-field performance and health metrics, enhancing training processes and helping to reduce injuries. Another important factor is fan engagement. AI programs, such as chatbots and recommendation engines, enhance engagement and lead to increased sales of tickets and merchandise. For instance, NBA teams and other American sports organizations have implemented AI technology to enhance fan interaction with the team through 3D technology. By Offering, solutions are expected to hold the highest market share during the forecast period. The solutions segment of the AI in Sports Market is expected to maintain the largest share during the forecast period due to their practical applications in enhancing performance, strategies, and fan engagement. Solutions such as advanced analytics platforms, computer vision tools, and predictive modeling are designed to deliver intelligent insights that support informed decision-making. Inquire Before Buying@ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=122129412 For instance, Catapult analytical platform is an example of analytics suite that most teams use to track the players' performance, control injuries, and adjust training regimes. In the same way, computer vision technology from HawkEye Company in sports is used to make calls during the game using real-time information, for example, goal line technology in soccer. Furthermore, it also helps coaches and the entire team create methods for the games through game analysis by using predictive analytics and looking at previous and current statistics to foresee what the other team will do. These solutions combine AI features with devices such as cameras and wearables to form an integrated system that improves productivity. Teams and organizations are implementing more of these tools powered by AI to enhance the competitive edge and provide rich experiences for the audiences, for instance, through personalized content suggestions or active participation during live events. Top Key Companies in AI in Sports Market: The major vendors covered in the AI in Sports Market are Cisco (US), IBM (US), Intel (US), Microsoft (US), AWS (US), SAP SE (Germany), Ericsson (Sweden), Oracle (US), Stats Perform (US), Tech Mahindra (India), Sportradar AG (Switzerland), HCL Technologies (India), Extreme Networks (US), Salesforce (US), SAS Institute (US). These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches, enhancements, and acquisitions to expand their footprint in the AI in Sports Market. Browse Adjacent Markets: Artificial Intelligence (AI) Market Research Reports & Consulting Related Reports: AI in Education Market - Global Forecast to 2030 AI in Retail Market - Global Forecast to 2030 AI Governance Market- Global Forecast to 2029 AI Image Generator Market- Global Forecast to 2030 ModelOps Market- Global Forecast to 2029 Get access to the latest updates on AI in Sports Companies and AI in Sports Industry About MarketsandMarkets™ MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report. MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes. The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry. To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook. Mr. Rohan Salgarkar MarketsandMarkets™ INC. 1615 South Congress Ave. Suite 103, Delray Beach, FL 33445 USA: +1-888-600-6441 Email: sales@marketsandmarkets.com Visit Our Website: https://www.marketsandmarkets.com/ Logo: https://mma.prnewswire.com/media/1951202/4609423/MarketsandMarkets.jpg View original content:https://www.prnewswire.com/news-releases/ai-in-sports-market-worth-2-61-billion-by-2030---exclusive-report-by-marketsandmarkets-302318057.html SOURCE MarketsandMarkets Market News and Data brought to you by Benzinga APIs

The Rise of Artificial Intelligence in Retail Market: A $164.74 billion Industry Dominated by Tech Giants - Microsoft, Google, Oracle, Servicenow | MarketsandMarkets™

Delray Beach, FL, Nov. 29, 2024 (GLOBE NEWSWIRE) -- The Artificial Intelligence in Retail Market size is projected to grow from USD 31.12 billion in 2024 to USD 164.74 billion by 2030 at a CAGR of 32.0% during the forecast period, according to a new report by MarketsandMarkets™. AI-driven solutions are transforming inventory management and supply chain processes, making them more efficient and cost-effective. By utilizing predictive analytics and machine learning models, retailers can forecast demand accurately, reduce stockouts, and optimize stock levels. AI systems help detect inefficiencies in the supply chain, enabling businesses to adjust their operations in real-time, reducing waste, and improving overall efficiency. This optimization is crucial in a competitive retail environment, where customer satisfaction depends heavily on product availability and timely deliveries. Browse in-depth TOC on "Artificial Intelligence in Retail Market" 350 - Tables 50- Figures 300 - Pages Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=36255973 Artificial Intelligence in Retail Market Dynamics: Drivers: Increasing adoption of conversational AI in retail for advice and recommendationsOperational Efficiency and Cost ReductionEnhanced Decision-Making Restraints: High Implementation CostsData Privacy Concerns Opportunities: Expansion of Omnichannel RetailingGrowth in AI-Powered Visual and Voice SearchInventory and Supply Chain Optimization List of Key Companies in Artificial Intelligence in Retail Market: Microsoft (US)IBM (US)Google (US)Amazon (US)Oracle (US)Salesforce (US)NVIDIA (US)SAP (Germany)Servicenow (US)Accenture (Ireland) Request Sample Pages @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=36255973 Based on the business functions, the cybersecurity segment is expected to hold the highest CAGR during the forecast period. With the growing reliance on digital platforms and data, Al is becoming crucial in maintaining cybersecurity in retail. Al algorithms analyze the account activity and flag any suspicious account activity as well as those that it considers fraudulent. By employing machine learning algorithms, these systems can learn from previous incidents and adapt to new, evolving threats. It is also used in vulnerability management, where Al scans networks as well as systems for vulnerabilities that attackers may exploit. Companies such as Target and Walmart leverage Al to watch their networks and counter cyber threats, making sure that individual customer data is not leaked. Al also enhances the authentication system by using biometrics to stop alternative identity crimes as well as payment fraudulence. Some examples of cybersecurity companies using AI techniques to protect the retail sector are Palo Alto Networks, Fortinet, and Darktrace. Based on region, North America holds the largest market size during the forecast period. In the Artificial intelligence in retail market, North America dominates due to the high adoption of these platforms in the United States and Canada. The region has large technological companies, research facilities, and start-ups actively developing AI technologies. The AI in retail market in North American enterprises is experiencing high growth due to the rising AI awareness and the need for better customer experiences and operational productivity. Investments from major tech companies and favorable government policies propel this region to dominate the AI retail landscape. A well-developed AI ecosystem, combined with innovation and venture capital infusion, fosters overall economic expansion. Retailers are forming strategic partnerships to incorporate AI tools, as seen in Macy's collaboration with Rokt to enhance customer engagement through personalized AI-driven technologies. Inquire Before Buying@ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=36255973 Key players in the Artificial intelligence in retail market are Microsoft (US), IBM (US), Google (US), Amazon (US), Oracle (US), Salesforce (US), NVIDIA (US), SAP (Germany), Servicenow (US), Accenture (Ireland), Infosys (India), Alibaba (China), Intel (US), AMD (US), Fujitsu (Japan), Capgemini (France), TCS (India), Talkdesk (US), Symphony AI (US), Bloomreach (US), C3.AI (US), Visenze (Singapore), Pathr.ai (US), Vue.AI (US), Nextail (Spain), Daisy Intelligence (Canada), Cresta (US), Mason (US), Syte(Israel), Trax(Singapore), Feedzai(US) and Shopic(Israel). These players not only have a comprehensive and diverse product portfolio but also have a strong geographic presence. These players can focus on developing innovative artificial intelligence in retail market technologies and offerings owing to the emergence of new application areas for artificial intelligence in retail markets. These companies offer several product offerings and have operations around the globe. These companies focus on product launches, acquisitions, and partnerships to strengthen their footprint through product innovations and extend their business reach. Get access to the latest updates on Artificial Intelligence in Retail Companies and Artificial Intelligence in Retail Industry About MarketsandMarkets™ MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report. MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes. The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry. To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook. Contact: Mr. Rohan Salgarkar MarketsandMarkets Inc. 1615 South Congress Ave. Suite 103, Delray Beach, FL 33445 USA : 1-888-600-6441 UK +44-800-368-9399 Email: sales@marketsandmarkets.com Visit Our Website: https://www.marketsandmarkets.com/ Market News and Data brought to you by Benzinga APIs