Artificial Intelligence
Mobile Payment Market to reach USD 6,884.24 billion in terms of Transaction Value Reflecting 28.7% CAGR; Rapid Expansion of E-commerce Businesses to Propel Growth: Fortune Business Insights™
Pune, Jan. 20, 2020 (GLOBE NEWSWIRE) — The global Mobile Payment Market size is projected to reach a transaction value of USD 6,884.24 billion by 2026, thereby exhibiting a CAGR of 28.7% during the forecast period. Whilst, it stood at USD 925.69 billion in 2018. This information is provided in a recently published study by Fortune Business Insights™, titled, “Mobile Payment Market Size, Share & Industry Analysis, By Payment Type (Proximity Payment, Remote Payment), By Industry (Media & Entertainment, Retail, BFSI, Automotive, Medical & Healthcare, Transportation, Consumer Electronics, Others), and Regional Forecast, 2019-2026.” The study further states that the market is likely to gain momentum from the expansion of e-commerce businesses and increasing digitalization of payment services. Also, several companies present in the market are persistently launching value-added services, such as reward cards to encourage consumers to use mobile payment features. It is done because of the rising competition amongst the key players to widen their consumer bases by offering them an enhanced experience. This factor would affect the market positively in the coming years.
What Does This Report Contain?
- In-depth information about the Mobile Payment Market trends, growth drivers, barriers, opportunities, and other related challenges.
- List of all the segments, as well as the niche areas of the market.
- Competitive landscape consisting of new agreements, mergers and acquisitions, contracts, unique product launches, collaborations, and investments.
- Detailed geographical analysis to help entrepreneurs in focusing on the most significant region.
To gain more insights into the market with detailed table of content and figures, click here: https://www.fortunebusinessinsights.com/industry-reports/mobile-payment-technology-market-100336
Usage of AI to Identify Consumer Purchasing Behavior Will Fuel Growth
Nowadays, key companies can analyze consumer preferences through mobile payment transactions. Additionally, artificial intelligence (AI) is being rapidly used by these companies to help them in processing the data and identifying the patterns. AI utilizes this data to recognize the buying behavior of the consumers. It allows businesses to plan their future business strategies appropriately. Besides, daily interaction with consumers can be easily done with the help of AI-enabled tools, such as chatbots. These chatbots can construct and enforce transaction processes as per the users’ requirements. As technological advancement upsurges, there is a rise in the number of fraudulent online activities. AI helps in detecting such acts through persistent scanning. These factors would accelerate the Mobile Payment Market growth in the coming years.
Asia Pacific to Remain in the Forefront Backed by Rising Adoption of Smartphones
In terms of region, the market is fragmented into Asia Pacific, North America, Latin America, Europe, and the Middle East and Africa. Out of these, Asia Pacific (APAC) had generated a transaction value of USD 445.17 billion from mobile payments in 2018 and is expected to sustain its dominant position during the forthcoming period. This growth is attributable to the rising adoption of smartphones in emerging countries, such as China, India, and Japan. Among these emerging countries, India is set to experience a high growth of the market owing to the rising adoption of mobile payment since demonetization. Apart from that, the launch of new mobile payment solutions, surge in online shopping, and introduction to new e-commerce channels would also impact the market growth in this region positively. The Middle East and Africa are likely to exhibit considerable growth stoked by the rising usage of smartphones and less adoption of credit cards.
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Europe and North America are anticipated to hold the next highest market share after APAC. It would occur in North America because of the ongoing technological developments in the U.S. The country also houses one of the best financial systems in the world. Major players in Canada and the U.S. are implementing strategies, such as reward systems and paybacks, to attract more consumers. Europe, on the other hand, is projected to exhibit significant growth owing to the introduction of various state-of-the-art mobile payment solutions by the established companies.
Paytm Unveils ‘All-in-One QR’ While Starbucks Launches Contest for Loyalty Members
The organizations present in the market are constantly striving to launch new products to help the consumers in adopting the latest technologies. Such initiatives would also help them in earning more Mobile Payment Market revenue. Below are two of the most recent industry developments:
- January 2020: Paytm, an e-commerce payment system and financial technology company, based in Noida, launched it’s All-in-One QR’ code for the merchants. The QR code is capable of helping the merchants to accept unlimited payments through Rupay cards, UPI based payment apps, and Paytm Wallet directly in their bank account for a zero percent fee.
- December 2019: Starbucks, an American coffee company and coffeehouse chain, launched a contest named ‘Starbucks for Life,’ offering its rewards loyalty program members an opportunity to win a food item or beverage every day for a month, a year, or even for the rest of their lives. As per the company, such loyalty programs aid the company in marketing directly to consumers and learn more information about them.
List of the most prominent companies operating in the Mobile Payment Market. They are as follows:
- Obopay
- Google Inc.
- Alipay.com Co Ltd.
- Microsoft Corporation
- Boku Inc.
- MasterCard International Inc.
- Visa Inc.
- Amazon.com Inc.
- PayPal Inc.
- American Express Co.
- Other key market players
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Table of Content:
- Introduction
- Definition, By Segment
- Research Approach
- Sources
- Executive Summary
- Market Dynamics
- Drivers, Restraints and Opportunities
- Emerging Trends
- Key Insights
- Macro and Micro Economic Indicators
- Consolidated SWOT Analysis of Key Players
- Porter’s Five Forces Analysis
- Global Mobile Payment Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Size Estimates and Forecasts
- By Payment Type (Transaction Value)
- Proximity Payment
- Near Field Communication (NFC)
- QR Code Payment
- Remote Payment
- USSD/STK
- Direct Operator Billing
- Digital Wallet (Mobile Wallet)
- Others (SMS-based, etc.)
- Proximity Payment
- By Industry (Transaction Value)
- Media & Entertainment
- Retail
- BFSI
- Automotive
- Medical & Healthcare
- Transportation
- Consumer Electronics
- Others (Education, IT & Telecom, etc.)
- By Geography (Transaction Value)
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
- By Payment Type (Transaction Value)
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Press Release-https://www.fortunebusinessinsights.com/press-release/mobile-payment-technology-market-9515
Artificial Intelligence
TREEFROG THERAPEUTICS PICKS-UP BEST POSTER AWARD AT THE INTERNATIONAL SOCIETY FOR CELL & GENE THERAPY (ISCT) ANNUAL MEETING FOR THEIR CELL THERAPY PROGRAM IN PARKINSON’S DISEASE
– Treefrog will present two posters on their cell therapy program in Parkinson’s Disease and their proprietary encapsulation technology, C-Stem™ –
BORDEAUX, France, May 29, 2024 /PRNewswire/ — TreeFrog Therapeutics has a busy schedule at the ISCT’s 30th annual meeting, taking place in Vancouver, Canada this week, with two posters being presented, one of which has been awarded the Best Poster in the iPSC category. A poster on their transformational encapsulation technology, C-Stem™, will also be presented.
TreeFrog is a cell therapy company with a lead program in Parkinson’s disease, a complex neurodegenerative disease with no cure and treatments that offer symptomatic relief only. Decades of research demonstrate that cell therapy holds immense promise for Parkinson’s disease, with multiple clinical trials ongoing. However, the manufacturing of these cells must overcome major pharmaceutical challenges, including scalability, to be compatible with potential commercial phases. The cell therapy program at TreeFrog is based on C-Stem™, a proprietary technology platform that overcomes these challenges. In 2021, the company achieved a world-first of producing 15billion iPSCs in one run, in one week.
Michael Lanero Fidalgo, Chief Operating Officer, will represent the company for the Best Poster in the iPSC category, an award designed to recognize outstanding abstracts related to iPSC research. Poster #1219, First Off-The-Shelf Bioreactor Produced, iPSC-Derived Neural Microtissues Containing Dopaminergic Neurons Innervate the Striatum and Normalize Behavior in a Parkinson Rat Model, is also one of only twenty posters chosen for an elevator pitch presentation from the overall 600 considered.
Kevin Alessandri, co-founder and Chief Technology Officer, will present poster #1200 Cell encapsulation as a tool for stem cell-based cell therapy industrialization, a deep dive into how the C-Stem™ technology, can overcome the bottlenecks of the complex Chemistry, Manufacturing and Controls (CMC) in cell therapy. He will also participate as a KOL in the JSRM-ISCT iPSC workshop event iPSCs: From Bench to Bedside’ Scientific Signature Series.
Events:
Elevator Pitch presentation by Michael Lanero-Fidalgo, representing lead authors Nicolas Prudon & Lucia Cordero Espinoza May 29th, 2024 @ 12:00 – 13:00, Room 201iPSC Poster Presentation Networking reception (Posters #1219 & #1200) May 30th @ 18:00 – 19:30 Exhibit & Poster HalliPSC: Bench to Bedside: Scientific Signature Series, participation of Kevin Alessandri as KOL. June 1st, 2024 @ 7:30 – 16:00, Room 212-214www.treefrog.fr
CONTACT: Rachel MooneyChief Communications OfficerTreeFrog Therapeutics [email protected]
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Artificial Intelligence
US Air Force Awards ThroughPut.ai Direct-to-Phase-II Contract for Boeing, Lockheed Martin, and Sikorsky Mission Design Series to Accelerate Aircraft Readiness
Leveraging Data to Drive Maintenance-first actions that improve overall supply chain throughput across the DAF.
NEW YORK, May 28, 2024 /PRNewswire/ — ThroughPut.ai, the Supply Chain Decision Intelligence Pioneer, announces it has been selected by AFWERX for a (SBIR Direct-to-Phase II contract) in the amount of $1,248,627.00 focused on “AI-Powered Proactive Supply Chain Capabilities” to address the most pressing challenges in the Department of the Air Force (DAF). The Air Force Research Laboratory and AFWERX have partnered to streamline the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) process by accelerating the small business experience through faster proposal to award timelines, changing the pool of potential applicants by expanding opportunities to small business and eliminating bureaucratic overhead by continually implementing process improvement changes in contract execution. The DAF began offering the Open Topic SBIR/STTR program in 2018 which expanded the range of innovations the DAF funded and now on April 17th, 2024, ThroughPut.ai will start its journey to create and provide innovative capabilities that will strengthen the national defense of the United States of America.
“ThroughPut.ai looks forward to supporting efforts to accelerate inventory flow across the United States Air Force,” said Ali Raza, CEO & Founder of ThroughPut.ai. “By driving inventory/materiel management changes at the maintenance endpoint first, supply chain improvements can then be amplified across the greater industrial base to create aircraft capacity.”
“The views expressed are those of the author and do not necessarily reflect the official policy or position of the Department of the Air Force, the Department of Defense, or the U.S. government.”
About (ThroughPut.ai)
ThroughPut.ai is a Silicon Valley-based supply chain optimization & predictive replenishment company. The company’s software AI platform has the ability to identify location-, product-, and customer-based demand changes sooner in order to adjust order frequencies, vendor sources, and parts buffer levels at a global and local scale. ThroughPut’s platform was designed by Fortune 500 & technology executives with real-world experience managing demand & supply chain disruptions and war-zone logistics across the Middle East.
About AFRLThe Air Force Research Laboratory is the primary scientific research and development center for the Department of the Air Force. AFRL plays an integral role in leading the discovery, development, and integration of affordable warfighting technologies for our air, space and cyberspace force. With a workforce of more than 12,500 across nine technology areas and 40 other operations across the globe, AFRL provides a diverse portfolio of science and technology ranging from fundamental to advanced research and technology development. For more information, visit afresearchlab.com.
About AFWERXAs the innovation arm of the DAF and a directorate within the Air Force Research Laboratory, AFWERX brings cutting-edge American ingenuity from small businesses and start-ups to address the most pressing challenges of the DAF. AFWERX employs approximately 370 military, civilian and contractor personnel at five hubs and sites executing an annual $1.4 billion budget. Since 2019, AFWERX has executed over 6,100 new contracts worth more than $4 billion to strengthen the U.S. defense industrial base and drive faster technology transition to operational capability. For more information, visit: www.afwerx.com.
Company Press Contact:Ali RazaCEO/[email protected]
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Artificial Intelligence
Data Center Investments Soar: 200% Rise Since 2016 and Projected 89% Increase by 2028
USA News Group CommentaryIssued on behalf of Avant Technologies Inc.
VANCOUVER, BC, May 28, 2024 /PRNewswire/ — Since 2016, investment in data centre infrastructure has risen 200%, with a further 89% increase expected by 2028 as more opportunities emerge with the rise of artificial intelligence (AI). According to Jones Lang LaSalle Inc.’s CEO Christian Ulbrich, data centers are “the hottest asset class at the moment.” Analysts at Technavio are projecting the global data center market to record an additional US$329.82 billion in growth at a CAGR of 12.73% through 2027. Capitalizing on the opportunity are several players recently announcing developments regarding their involvement in the data centers sector, including
Avant Technologies Inc. (OTCQB: AVAI), Amazon.com, Inc. (NASDAQ: AMZN), Applied Digital Corporation (NASDAQ: APLD), Digital Realty Trust, Inc. (NYSE: DLR), and Equinix, Inc. (NASDAQ: EQIX).
As an early pioneer in generative AI, Avant Technologies Inc. (OTCQB: AVAI) continues to enhance its flagship asset, Avant AITM, a sophisticated machine and deep learning AI system designed for versatility and customization across various industries and applications. Recently, Avant announced plans to equip its AI-managed data center, currently in development, with High-Performance Computing (HPC) systems. According to IBM, HPC technology utilizes clusters of powerful processors working in parallel to process massive multi-dimensional data sets and solve complex problems at exceptionally high speeds.
“The rise of AI is revolutionizing industries, and Avant Technologies is committed to being at the forefront of this transformation,” said William Hisey, CEO of Avant. “By building an AI-managed data center with HPC systems, we will gain the computational power and infrastructure required to train and deploy sophisticated AI models, which will ultimately provide even greater value to our customers.”
The new data center will leverage AI-driven management technology to optimize resource allocation and enhance efficiency in all aspects of data center operations. Avant will meticulously design its HPC infrastructure to meet the demands of AI workloads, selecting high-performance CPUs and GPUs (or TPUs) specifically suited for deep learning tasks. This cutting-edge facility will enable Avant to accelerate AI advancements, delivering innovative solutions to clients by improving data center efficiency and empowering them with exceptional AI capabilities.
Additionally, Avant will implement a high-speed network to ensure efficient data transfer and select a scalable storage solution to manage the large datasets necessary for training and utilizing AI models. The HPC systems will prioritize security, incorporating robust measures to protect sensitive data and create a secure environment for AI deployment. Furthermore, the data center will integrate energy-efficient technologies and sustainable design practices, reflecting Avant’s commitment to environmental responsibility.
Avant Technologies also recently announced plans to implement AI-empowered Zero Trust Architecture (ZTA) across its data center operations. Additionally, the company has expanded its AvantAI™ platform to include intelligent, proactive monitoring and management for data centers.
Over the past few weeks Amazon.com, Inc. (NASDAQ: AMZN) has collectively committed to investing $20 billion into new data centers for its subsidiary Amazon Web Services (AWS). The first to be announced was an $11-billion data center to be built in Indiana, with another $9 billion set to accelerate cloud-infrastructure in Singapore. The moves fall in line with Amazon CEO Andy Jassy’s projection that 85% of IT spending will remain on premises, in the race for Gen AI supremacy.
Amazon also recently announced an extension on its partnership between AWS and CrowdStrike to unify cybersecurity protection on its CrowdStrike Falcon platform. As per the agreement, Amazon is replacing a variety of cloud point products with Falcon Cloud Security, is using Falcon Next-Gen SIEM to secure big data logging and is deploying Identity Threat Detection and Response to prevent identity-based attacks.
“CrowdStrike and AWS have a deep history of working together to secure the most innovative companies in the world,” said CJ Moses, Chief Information Security Officer and Vice President of Security Engineering at Amazon. “Amazon uses CrowdStrike to provide visibility, detection, and response across our businesses in order to protect the cloud, infrastructure, and services for our customers. This is part of our shared mission to help all organizations build, operate, and secure their business.”
In a move to shore-up its market position as a designer, builder, and operator of next-generation digital infrastructure designed for High-Performance Computing (“HPC”) applications, Applied Digital Corporation (NASDAQ: APLD) recently announced the appointment of industry veteran Todd Gale as its new Chief Development Officer. The announcement came just one month after the company announced it had issued a $50 million unsecured convertible debenture to advance its HPC Data Center Project in Ellendale, North Dakota.
“We intend to use the net proceeds from the private financing, supplemented by the proceeds from our announced sale of the Garden City facility, to finance substantial advancements in our construction phase of the HPC data center in Ellendale, North Dakota,” said David Rench, CFO of Applied Digital. “Concurrently, we continue negotiating our project-level financing to ensure timely project completion and fulfillment of our contractual obligations.”
Applied Digital intends to utilize chipmaking giant NVIDIA’s new Blackwell platform into its cloud offerings. The company’s next-generation data center campuses are specifically designed to host HPC/AI applications, offering more cost-effective and efficient alternatives to traditional data centers.
In Japan, Digital Realty Trust, Inc. (NYSE: DLR) recently announced the expansion of its NRT Campus, by commencing construction of its third data center to support AI. Upon completion of the site in late 2025, the campus’s capacity will rise to 104MW, with the intention of meeting rising demand for next-generation infrastructure, and seamless access to Japan’s connected data communities.
“Japan’s rapidly increasing demand for AI deployments creates the need for scalable, flexible, and highly connected AI-ready data centers in the Tokyo metropolitan area,” said Serene Nah, Managing Director and Head of Asia Pacific, Digital Realty. “We believe NRT14’s next-generation data center infrastructure and Digital Realty’s connected global open data center platform provide the foundational pillars our customers need to drive innovation in the coming years.”
Equinix, Inc. (NASDAQ: EQIX), another digital infrastructure company, has recently launched a $600 million joint venture with PGIM Real Estate to develop and operate the first xScale data center in the US, situated in California’s Silicon Valley. This follows their successful collaboration on the first xScale data center in Australia in 2022, which was part of a similar $575 million joint venture announced in 2021.
Under the terms of the new agreement, PGIM Real Estate will hold an 80% equity interest in the joint venture, while Equinix will retain a 20% equity stake. xScale data centers by Equinix enable hyperscale companies to expand their core deployments within Equinix’s IBX data centers, facilitating growth in over 70 global metros through a platform that supports direct interconnections with more than 10,000 customers.
This joint venture complements Equinix’s existing hyperscale collaborations in Europe, Asia-Pacific, and the Americas, significantly enhancing the global xScale data center portfolio. Once completed, this global expansion is set to exceed $8 billion, encompassing more than 35 facilities and providing over 725 megawatts of power capacity.
Source: https://usanewsgroup.com/2023/10/26/unlocking-the-trillion-dollar-ai-market-what-investors-need-to-know/
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