Artificial Intelligence
Cyber Insurance Market to Grow with 26.3% CAGR Between 2020 and 2030: P&S Intelligence
NEW YORK, June 25, 2020 (GLOBE NEWSWIRE) — With the growing awareness on insurance, surging number of cyber-attacks, and increasing government regulations, the profile of cyber risk management firms is becoming better. This factor is set to prove instrumental in driving the cyber insurance market at a 26.3% CAGR between 2020 and 2030, thereby leading to an increase in the industry size from $5,573.2 million in 2019 to $70,671.9 million by 2030.
Additionally, due to the implementation of cyber-risk regulations, companies are adopting mitigation solutions, which are rapidly being provided by insurance firms, to deal with such risks. Insurance firms provide cyber-attack-related financial loss prevention, risk mitigation, and loss compensation services. These companies create valuable data sets from information related to cyber-attacks and their financial impact on an entity and successful strategies to mitigate the risk, to model cyber risks and rate future customers.Get the Sample Copy of this Report at: https://www.psmarketresearch.com/market-analysis/cyber-insurance-market/report-sampleThe COVID-19 crisis is having a positive effect on the demand for cyber insurance, as the pandemic has shifted countries’ focus to healthcare and economic stability, thus opening the doors for cyber-criminals to hack servers and steal vital information. Malware spams, phishing attacks, and ransomware attacks have increased since the outbreak, many of which have targeted the World Health Organization (WHO). Therefore, in order to protect themselves against intellectual property and financial damage by such attacks, companies of all sizes are opting for cyber insurance.Cyber Insurance Market Segmentation AnalysisThe data breach category, on the basis of policy, would witness the fastest industry growth in the coming years, on account of the increasing instances of such issues, with the rising focus of companies on digital data, cloud computing, and workforce mobility. Local computer systems, enterprise databases, and cloud servers, where the sensitive information of organizations is generally stored, are all susceptible to breaches. During the first half of 2019, 4.1 billion digital records were exposed around the globe, in 3,800 individual data breach cases. This is why companies are rapidly adopting data-breach-centric cyber insurance to mitigate third- and first-party financial losses.In 2019, standalone insurance, based on product type, was more popular, as this product allows companies to instantly compensate themselves as well as their customers for any financial loss arising out of a cyber-attack. Standalone cyber insurance policies compensate the insured client or customer for the credit monitoring costs, IT forensic costs, data restoration costs, and public relations expenses, which might be incurred due to a data breach. Moreover, such policies also offer cover for the direct losses due to phishing, social engineering frauds, cyber frauds, spoofing, and phreaking, as well as companies’ legal liabilities to third parties.Browse report overview with 136 tables and 102 figures spread through 249 pages and detailed TOC on “Cyber Insurance Market Research Report: Global Competition Analysis and Revenue Forecast to 2030” at: https://www.psmarketresearch.com/market-analysis/cyber-insurance-marketThe claims division, under segmentation by service, would grow at the highest CAGR, of 30.5%, in the cyber insurance market during 2020–2030. This would be a result of the rising risk of business failure and threat to digital capital, in the event of a cyber-attack.Large enterprises are the more-significant users of cyber insurance compared to small- and medium-sized enterprises (SMEs), as such companies are rapidly deploying the cloud, artificial intelligence (AI), internet of things (IoT), big data, and machine learning (ML) technologies in their operations. This is leading to the creation of huge volumes of data, which includes sensitive information, including customers’ personal details. This is why such companies are regularly targeted by cyber-criminals, with the intention of getting access to a vast amount of data at once. Owing to the high risk of cyber-attacks and their high spending power, large enterprises are quickly adopting cyber insurance.In the near future, the healthcare industry is set to grow the fastest in the market, when segmented by end user. With the digitization of health records and increasing penetration of the internet, critical medical information has become vulnerable to hacking and breaches, which is why healthcare organizations are purchasing cyber insurance.Owing to the existence of several major cyber insurance companies, including Chubb Group Holdings Inc., American International Group Inc., and Lockton Incorporated, North America is currently the largest contributor to the market. Further, governments in the region are making the implementation of cybersecurity and insurance measures mandatory for companies of all sizes, thus driving the regional market. Between 2020 and 2030, the adoption of cyber insurance is predicted to surge the most rapidly in Asia-Pacific (APAC). Companies in the region are concerned about the security of cloud databases and blockchain systems, and the government in several places is stepping up efforts to raise the awareness about cybersecurity and cyber insurance.Insurance Providers Engaging in Partnerships to Enhance their Offerings and Widen their ReachIn recent years, a number of partnerships have been seen in the market, as cyber insurance companies are looking at such measures to:Use each other’s customer base to sell their insurance policiesWork together to equip their commercial insurance analytics capabilities with AIEducate and consult cybersecurity startups on the challenges and opportunities in the cyber insurance nicheIntegrate each other’s expertise to come up with better policiesThe most prominent players in the global cyber insurance market include Chubb Limited, American International Group Inc. (AIG), Berkshire Hathaway Inc., Zurich Insurance Group AG, Lockton Companies Inc., Munich Re Group, Allianz Group, Aon Plc, Arthur J. Gallagher & Co., AXA XL, Beazley Plc, The Travelers Companies Inc., Axis Capital Holdings Limited, Fairfax Financial Holdings Limited, and Liberty Mutual Holding Inc.More Reports of ICT And Media By P&S IntelligenceDigital Twin MarketIn the past few years, the major digital twin market players have launched many new solutions to expand their customer base and industry presence. For instance, in October 2019, Bentley Systems Incorporated launched iTwin, which includes cloud-based digital twin services for infrastructure assets and projects.https://www.psmarketresearch.com/market-analysis/digital-twin-marketQuantum Computing MarketTogether, North America and Europe are expected to hold almost 78% share cumulatively in the quantum computing market in 2030. All the major investments are being recorded in the U.S., Canada, Germany, the U.K., and Russia. In the U.S., National Aeronautics and Space Administration (NASA), the National Security Agency (NSA), and the Los Alamos National Laboratory are involved in this technology related project.https://www.psmarketresearch.com/market-analysis/quantum-computing-marketWorkplace Transformation MarketDuring the forecast period, APAC is expected to witness the fastest growth in the workplace transformation market. This can be attributed to a rise in the adoption of workplace transformation services, primarily in India, Japan, and China. In addition, the increase in the number of millennials joining the workforce and boom in industry 4.0 are some other factors supporting the growth of the market in the region.https://www.psmarketresearch.com/market-analysis/workplace-transformation-marketAbout P&S IntelligenceP&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.Contact:P&S IntelligenceInternational: +1-347-960-6455Email: [email protected]Web: https://www.psmarketresearch.com
Artificial Intelligence
Complyport’s new AI tool – ViCA.Chat – set to revolutionise compliance support services
LONDON, June 14, 2024 /PRNewswire/ — ViCA.Chat, the Virtual Compliance Assistant powered by AI technology, is set to transform regulatory compliance consulting. Developed by ComplyMAP Group’s AI engineers and Complyport’s compliance consulting teams, ViCA redefines compliance support services and propels governance, risk and compliance consulting into a new era of innovation.
Offering real-time assistance across a vast array of UK and EU regulatory frameworks, ViCA delivers unparalleled efficiency, detail and precision in disentangling and dealing with complicated regulatory frameworks.
The key differentiator of ViCA is its specialised and purposely constructed unique databases that leverage Complyport’s 22 years of regulatory expertise, combined with tailored AI training tools, enabling ViCA to operate as an experienced compliance consultant. A dedicated human support team continuously improves and updates ViCA’s knowledge and responses through a feedback loop process and quality assurance sessions. This powerful symbiosis of AI and human expertise sets ViCA apart and ensures businesses have the latest regulatory information instantaneously and seamlessly.
As a result, ViCA’s specialised regulatory database goes beyond readily available online resources which feature into traditional AI tools. ViCA offers exclusive insights, proprietary regulatory interpretations, historical data, bespoke and purposely structured compliance documentation and templates. With advanced scraping capabilities, ViCA also extracts relevant data from selected websites and publicly available information, ensuring an up-to-date and comprehensive understanding of compliance requirements across industries.
From agile fintech startups to established law firms, financial institutions, regulatory bodies, insurance providers, as well as compliance consultants, ViCA seamlessly adapts to unique compliance needs. Its user-friendly interface ensures navigating and analysing regulatory data is swift and intuitive, streamlining the compliance workflow.
“ViCA is a game-changer in how regulatory compliance advice will be provided in the future”, commented Luis Parra, Managing Director of ViCA. “With ViCA, compliance insights become available to all. No longer are regulated firms and responsible people overly dependent on advisors and compliance consultants. Through ViCA, the financial system will not only meet but exceed regulatory standards. Moreover, the level of information made available to the public will benefit society as a whole, in its interactions with the financial services sector.”
Among ViCA’s revolutionary features is its cost-effective model, allowing businesses to significantly reduce reliance on traditional spending with external consultants and advisors.
Visit ViCA.Chat to experience the future of compliance support.
Contact:
Name: Luis ParraTitle: Managing DirectorCompany: Vica.ChatTelephone: +44 20 7399 4980 Email: [email protected]
About ViCA.Chat:
ViCA.Chat is a revolutionary Virtual Compliance Assistant powered by cutting-edge AI technology, designed to demystify the complexities of regulatory compliance. Utilising Complyport’s 22 years of regulatory expertise, ViCA offers real-time assistance and guidance across a wide range of regulatory frameworks, setting a new standard for efficiency and precision in compliance support. From fintech start-ups to established law firms, financial services institutions, regulators, regulatory firms, compliance consultants and insurance firms, ViCA caters to the diverse needs of professionals across all levels in the broader UK financial services sector.
Visit ViCA.Chat to learn more.
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Artificial Intelligence
LoRa and LoRaWAN IoT Market worth $32.7 billion by 2029- Exclusive Report by MarketsandMarkets™
CHICAGO, June 14, 2024 /PRNewswire/ — The LoRa and LoRaWAN IoT Market is expected to reach USD 32.7 billion by 2029 from USD 8.0 billion in 2024, at a Compound Annual Growth Rate (CAGR) of 32.4 % during 2024–2029, according to a new report by MarketsandMarkets™.
Browse in-depth TOC on “LoRa and LoRaWAN IoT Market”
320 – Tables 58 – Figures294 – Pages
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Scope of the Report
Report Metrics
Details
Market size available for years
2018-2029
Base year considered
2023
Forecast period
2024–2029
Forecast units
Value (USD Billion)
Segments Covered
Offering, Network Deployment, Application, End User, and Region
Region covered
North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
List of Companies in LoRa and LoRaWAN IoT
The Bosch Group (Germany), Cisco (US), Orange SA (France), Comcast Corporation (US), Semtech (US), NEC Corporation(Japan), Tata Communications (India), AWS (US), Advantech (Taiwan), SK Telecom (South Korea), Murata (Japan), Kerlink (France), Actility (France), Digi International (US), MultiTech (US), Ezurio (US), Sensoterra (Netherlands), Nwave Technologies (US), RAKwireless (China), TheThings.io (Spain), Datacake (Germany), Milesight (China), LORIOT (Switzerland), Exosite (US), Orbiwise (Switzerland), Netmore Group (Sweden), and Radio Bridge Inc (US).
The LoRaWAN ecosystem influences development of tools, software libraries, and cloud-based platforms that streamline the creation, deployment, and management of IoT solutions. Continuously evolving, this ecosystem boasts a burgeoning array of vendors providing LoRa-compliant devices, gateways, and network management solutions. This vibrant competition within the ecosystem propels innovation while driving down costs for end-users. Moreover, the development of interoperable solutions fosters seamless integration and deployment of LoRaWAN networks, simplifying the implementation process for businesses and organizations. As the ecosystem continues to expand and mature, it empowers developers, system integrators, and IoT enthusiasts to unleash their creativity, accelerate time-to-market, and unlock the full potential of LoRaWAN technology in diverse applications and industries.
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Based on network deployment, the public network segment to hold the largest market size during the forecast period.
The robust security features integrated into public LoRaWAN networks play a significant role in driving the growth and adoption of LoRaWAN technology in the market. End-to-end encryption ensures that data transmitted between devices and gateways is protected from unauthorized access or interception, safeguarding sensitive information such as sensor readings, location data, and command messages. Message integrity checks verify the integrity of data packets, detecting any tampering or alteration during transmission and ensuring data authenticity and reliability. Additionally, mutual authentication mechanisms establish trust between devices and gateways, verifying the identity of both parties before allowing communication to occur. These security measures provide organizations and end-users with confidence in the integrity and confidentiality of their data, mitigating concerns related to data privacy, cybersecurity threats, and regulatory compliance. As a result, implementing robust security features in public LoRaWAN networks enhances trust and credibility in the technology, driving increased adoption and market growth as organizations seek reliable and secure connectivity solutions for their IoT deployments.
By offering, the services segment is expected to hold a higher growth rate during the forecast period.
IoT service providers are pivotal in driving adoption by developing vertical-specific solutions finely tuned to the distinct needs of industries like agriculture, healthcare, logistics, and smart cities. In agriculture, for instance, IoT services offer solutions for precision farming, crop monitoring, and livestock management, enabling farmers to optimize irrigation, monitor soil health, and enhance yields. Similarly, IoT services facilitate remote patient monitoring, asset tracking, and inventory management in healthcare, improving patient care, reducing costs, and ensuring compliance with regulatory standards such as HIPAA. In logistics, IoT services provide real-time tracking of shipments, fleet management, and predictive maintenance, enhancing supply chain visibility, efficiency, and reliability. For smart cities, IoT services offer solutions for traffic management, waste management, energy optimization, and public safety, transforming urban infrastructure and enhancing the quality of life for residents. By addressing industry-specific challenges, compliance requirements, and use cases, vertical-specific IoT solutions deliver tangible business value, driving adoption and fueling the growth of the IoT services market across diverse sectors.
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Asia Pacific is expected to hold a higher growth rate during the forecast period.
In the Asia Pacific region, where agriculture serves as a cornerstone of many economies, adopting IoT technologies, particularly LoRa and LoRaWAN, is revolutionizing traditional farming practices. LoRaWAN’s long-range connectivity and low-power consumption make it well-suited for deployment in rural agricultural settings, where access to reliable connectivity may be limited. Through LoRa-based IoT solutions, farmers can implement precision agriculture techniques to address pressing challenges such as water scarcity, soil degradation, and unpredictable weather patterns. LoRa-enabled sensors facilitate real-time monitoring of soil moisture levels, temperature, and humidity, allowing farmers to optimize irrigation schedules and conserve water resources. Remote sensing technologies powered by LoRaWAN enable farmers to gather actionable insights on crop health, pest infestations, and nutrient deficiencies, facilitating timely interventions and improving overall crop management practices. Furthermore, LoRa-based crop analytics platforms provide farmers with data-driven decision support tools, helping them optimize planting strategies, improve yield forecasting, and mitigate the impact of climate change on agricultural productivity. By harnessing the power of LoRa and LoRaWAN IoT solutions, farmers in the Asia Pacific region can increase yields, conserve resources, and enhance resilience to environmental challenges, driving the adoption and growth of the LoRaWAN IoT market in the agricultural sector.
Top Key Companies in LoRa and LoRaWAN IoT Market:
The major vendors covered in the LoRa and LoRaWAN IoT Market are The Bosch Group (Germany), Cisco (US), Orange SA (France), Comcast Corporation (US), Semtech (US), NEC Corporation(Japan), Tata Communications (India), AWS (US), Advantech (Taiwan), SK Telecom (South Korea), Murata (Japan), Kerlink (France), Actility (France), Digi International (US), MultiTech (US), Ezurio (US), Sensoterra (Netherlands), Nwave Technologies (US), RAKwireless (China), TheThings.io (Spain), Datacake (Germany), Milesight (China), LORIOT (Switzerland), Exosite (US), Orbiwise (Switzerland), Netmore Group (Sweden), and Radio Bridge Inc (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 LoRa and LoRaWAN IoT Market.
Browse Adjacent Markets: Digitalization and Internet of Things (IoT) Market Research Reports & Consulting
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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.
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Artificial Intelligence
Scoring a Seat at UEFA EURO 2024™ with Top-Performing AI-Powered TOSHIBA TV Lineup
HONG KONG, June 14, 2024 /PRNewswire/ — Football fans are in for a treat as they gear up for UEFA EURO 2024™ with Toshiba TV’s top-performing Gaming TV Z670. As the OFFICIAL TV OF UEFA EURO 2024™, Toshiba TVs present immersive viewing of the football game by their AI-powered TV lineup. To celebrate the brilliant moments it can bring, Toshiba TV are gifting USD100 Amazon Gift Card via their social platform! By simply like, follow and comment on @ToshibaTVGlobal, fans can boost their chances of scoring this prize.
Optimized Visuals Tailored for Football Dynamics
The Toshiba REGZA Engine ZRi in Z670 transports football fans into the heart of the action. With the AI Football Mode, they’ll be able to see fast-moving objects crystal clear and football field actions much enriched. To see their favourite player score that winning goal, the AI Picture Optimizer automatically adjusts visual contrast and precision adapted to the game. From vivid green fields and vibrant player kits, every play comes to life with AI 4K Upscaling and Quantum Dot Color, transforming lower-resolution broadcasts into near-4K quality and unleashing lifelike visual color.
Powerful Audio Effects for a Live Stadium Experience
The Toshiba TV Z670’s powerful audio system makes viewers feel like they’re right in the game. With the REGZA Bass Woofer Pro, Tru Bass Booster, and Dolby Atmos, they’ll experience heart-thumping 3D surround sound that captures the live stadium atmosphere. Whether it’s the roar of the crowd or the intensity of each play, the rich audio brings the excitement of each game right into their room.
Bringing Everyone Together for UEFA EURO 2024™
Available in sizes ranging from 55″ to 85″, Z670 is equipped with a Wide Viewing Angle and Anti-reflection features that ensures a clear picture from all viewing positions with the non-glare panel. Gather everyone for “Brilliant Every Moment” in UEFA EURO 2024™ with Toshiba TV!
Please find the high-resolution TVC here: Link
About Toshiba TV:
With 70+ years of history in TV production, Toshiba TV is known for its exquisite craftsmanship, innovative ideas and groundbreaking inventions. By prioritizing superior image quality and auditory experiences, Toshiba TV sets new standards in entertainment. Toshiba TV stems from the excellence quest of customers, providing the world with responsible products to make the world a better place. Emphasizing attention to product details and technological advancement, Toshiba TV integrates aesthetically pleasing design, quality assurance, and brand reputation to underscore its commitment to authenticity in the actual world and a sincere dedication to its consumers, showcasing Toshiba TV’s long-standing design philosophy and continuous pursuit of product quality.
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