Artificial Intelligence
Worldwide Light Control Switches Industry to 2025 – North America is Set to Witness Significant Growth
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Dublin, Aug. 18, 2020 (GLOBE NEWSWIRE) — The “Light Control Switches Market – Growth, Trends, and Forecasts (2020-2025)” report has been added to ResearchAndMarkets.com’s offering.
The light control switches market is expected to witness a growth at a CAGR of 6.8% over the forecast period (2020-2025). Light switches which were once a simple decision has now made its place into the home improvement category as well as industrial and outdoor applications. With different applications, switch style, wiring needs, and programmable capabilities, choosing the right light switches and dimmers can be tricky to navigate.
To help connect IoT devices such as smart lighting solutions, lighting controls, where mesh communications protocols are rapidly emerging as a preferred solution, especially for low-power applications. For the same, wireless communication enables technology such as ZigBee to have emerged with more popularity in recent years.
Additionally, increasing smart city projects worldwide is one of the major factors creating huge opportunities for the light control switches market. National governments aiding the expansion of smart city projects is also a key trend in the market. With the help of the Smart Cities and Communities European Innovation Partnership (EIP SCC), supported by the European Commission, 78 cities in the region have undertaken smart city development. EIP-SCC aims to have 300 smart cities by the end of 2020.
However, the market has been affected by the recent outbreak of COVID 19, and companies have been forced to restructure their strategies to deal with the ongoing pandemic. Companies like Telensa and signify were the worst hit due to this pandemic. Signify in February 2020 had planned to upgrade their solar connected street light to toggle between solar and grid power by using Philips Combo Charge Controller. But the company has gone into financial crunch due to the COVID outbreak, the company in March 2020 had announced a 20 percent pay cut of all their employees. Key Market Trends
ZigBee Wireless Communication Switches to Gain Significant Growth
North America to Witness Significant Growth
Competitive Landscape
The light controller switches market is more inclined towards fragmentation with the presence of many established players competing with the less product differenciation. This created a market competitiveness with higher bargaining power with the buyers. Hence, the companies have been trying to make strategic acquistions and product innovation in order to gain more market share. Some of the recent developement by these companies are mentioned below.
Reasons to Purchase this report:
Key Topics Covered:
1 INTRODUCTION 2 RESEARCH METHODOLOGY 3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS 5 EMERGING TECHNOLOGY TRENDS
6 MARKET SEGMENTATION 7 COMPETITIVE LANDSCAPE 8 INVESTMENT ANALYSIS
9 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/3lkyil
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Intiatives to switch to LED lighting Solutions
4.3 Market Restraints
4.4 Industry Value Chain Analysis
4.5 Porters FIve Force Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
4.6 Assessment on the Impact of COVID-19 on the market
6.1 By Communication Technology
6.1.1 Wired
6.1.2 Wireless
6.2 By Application
6.2.1 Indoor
6.2.2 Outdoor
6.3 By Light Source
6.3.1 Incandescent
6.3.2 Fluorescent (FL)
6.3.3 Light-Emitting diode (LED)
6.3.4 Other Light Sources
6.4 Geography
6.4.1 North America
6.4.2 Europe
6.4.3 Asia-Pacific
6.4.4 Latin America
6.4.5 Middle East & Africa
7.1 Company Profiles*
7.1.1 Signify BV
7.1.2 Legrand SA
7.1.3 Leviton Manufacturing Company Inc.
7.1.4 Lutron electronics co., Inc.
7.1.5 Eaton Corporation PLC
7.1.6 Osram GmbH
7.1.7 Hubbell Inc.
7.1.8 Acuity Brands Inc.
7.1.9 Honeywell International Inc.
7.1.10 Schneider Electric SE
7.1.11 Havells India LimitedCONTACT: ResearchAndMarkets.com
Laura Wood, Senior Press Manager
[email protected]
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Artificial Intelligence
Wavenet Takes Centre Stage at DTW – Ignite 2024 in Copenhagen
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SINGAPORE, July 2, 2024 /PRNewswire/ — Wavenet, a pioneering technology company renowned for its advancements in artificial intelligence (AI) and digital transformation, showcased its innovative prowess at the DTW – Ignite 2024 event. This prestigious gathering of global telecom industry leaders highlighted the pivotal role of AI and emerging trends reshaping the telecommunications landscape.
As a trailblazer with over two decades of expertise in digitising and transforming global telecom operations, Wavenet’s CEO, Suren Pinto, captivated the audience at the ‘AI at Scale’ forum. His presentation, titled ‘Copilot to Autopilot – A Telco’s AI Roadmap for Hyperconnected CX,’ detailed Wavenet’s cutting-edge Contact Center AI solutions that are revolutionising major telecom companies in Colombia, Cambodia, and Bolivia. Pinto underscored the transformative potential of intelligent and immersive customer experiences in a world driven by convenience and hyperconnectivity. He explained how integrating Copilot and Autopilot technologies is set to redefine telco roadmaps, ushering in a seamless and intuitive future for customer interactions. Additionally, Pinto demonstrated the future potential of customer experience (CX) with Apple Vision Pro-led demonstrations, showcasing the confluence of intelligent and immersive technology.
Reflecting on the event, Wavenet VP of Marketing and Communications, Peumi Rodrigo, expressed, “Returning to DTW in Copenhagen this year was a tremendous opportunity that solidified our positioning as a Bronze Partner. We received phenomenal feedback on our telecom solutions. Our state-of-the-art contact centre AI, zero-touch digital marketplace, and next-gen low-code/no-code development studio applications exemplify our commitment to revolutionising the telecom industry at an exponential pace. Our focus on intelligent and immersive customer experiences, combined with our array of value-added solutions and trusted by customers globally with continuous innovations, positions us to drive significant industry transformation.”
Wavenet’s innovative excellence was further recognised at DTW with the prestigious Open Innovation Catalyst Award for the ‘Gen AI Powered Toolkit for Network and Service Management.’ This groundbreaking initiative, in collaboration with key industry players such as Clarity Global, du, Mobily, Mobitel (Pvt) Ltd, PLDT, Smart Communications, Inc., Sri Lanka Telecom, Telekom Malaysia, Tech Mahindra, Nart Informatics – TechNarts, Telia, TurkNet, and Waylay, aims to revolutionise network resource management, ensuring peak performance and customer satisfaction through generative AI-based solutions.
With strategically located offices in Singapore, Colombia, Africa, Australia, Malaysia, Romania, and Sri Lanka, Wavenet is a global ISV dedicated to driving intelligent digital transformation across the telecommunications and digital enterprise sectors, influencing billions of users worldwide.
Contact:
Wavenet: [email protected]
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Artificial Intelligence
Gupshup collaborates with Philippines’ leading Neobank Tonik, offers Generative AI chatbot to bring innovation in digital banking
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SINGAPORE and MANILA, Philippines, July 2, 2024 /PRNewswire/ — Gupshup, the world’s leading Conversation Cloud today announced its partnership with Tonik Bank, the first digital-only neobank in the Philippines, to develop a state-of-the-art Generative AI chatbot for Tonik’s mobile app. The innovative solution aims to provide Tonik’s customers with instant and accurate answers to frequently asked questions, revolutionizing the way they interact with their bank.
The Generative AI chatbot, powered by Gupshup’s advanced natural language processing (NLP) and machine learning (ML) technologies, is designed to understand and respond to customer queries with human-like precision and empathy. By leveraging the latest advancements in AI, the chatbot can engage in contextual conversations, providing personalized and relevant information to each customer.
Tonik is the first digital bank in the Philippines to leverage Generative AI for customer service. By integrating the chatbot into their mobile app, Tonik Bank aims to provide their customers with instant access to information, reducing wait times and improving overall satisfaction.
“The integration of Gupshup’s ACE LLM into our operations has been truly transformative. We’ve witnessed significant value in its ability to automate routine tasks, elevate customer service, and boost our overall efficiency. This technology has the potential to revolutionize our operations, and we are excited to further explore its capabilities and implement it across our business,” said Sateesh Reddy, Deputy Chief Technology Officer of Tonik Bank.
Since the implementation of Gupshup’s technology, nine out of ten customer queries are now directed through Tonik’s in-app chat feature, where the AI autonomously resolves 75% of the queries without human intervention. This has not only amplified the efficiency of Tonik’s in-house customer care team by 4.3 times but also empowered them to dedicate more time to resolving intricate issues, ensuring that customers receive the personalized support they need.
The Generative AI chatbot solution is expected to generate significant cost savings for Tonik, with an estimated total of over USD 20 million over the next three years.
“Our partnership with Tonik Bank exemplifies the future of BFSI. As the sector evolves, Gen AI will be crucial to deliver seamless, personalized, and efficient customer experiences. Our chatbot solution is designed to do just that, empowering banks like Tonik to focus on what matters most – building strong relationships with their customers,” said Beerud Sheth, Co-founder and CEO of Gupshup.
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Artificial Intelligence
Seedtag Enters Australian Market with Acquisition of JustEggs
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The global contextual advertising company enters the Australian market with acquisition of JustEggs, expanding its footprint in the APAC region
SYDNEY, July 2, 2024 /PRNewswire/ — Seedtag, the global leader in contextual advertising, announced today that the company has acquired JustEggs, an Australian-owned creative intelligence business that drives measurable digital solutions for brands and advertisers. The acquisition is a strategic move to support business growth across the APAC region by introducing Seedtag’s proprietary contextual AI technology, Liz, to the Australian market.
Founded in 2013, JustEggs specialises in leveraging its innovative digital solutions to create engaging campaigns that offer true value for brands and advertisers. Starting in July, JustEggs will integrate Seedtag’s privacy-first targeting technologies into its offering to further enhance its advertising solutions, providing more targeted and effective campaigns for its clients through the power of contextual AI. To ensure a smooth integration of both technologies, Seedtag and JustEggs will work closely together while delivering a seamless experience to their partners. JustEggs’ CEO and Founder, Nik Kontoulas, will remain with the company, assuming the role of Managing Director ANZ.
The number of internet users in Australia is expected to exceed 23.3 million by 2025, achieving an impressive internet penetration rate of over 89% – according to Statista. For Seedtag, entering the Australian market was a natural step toward fulfilling its mission of becoming the contextual partner for brands, agencies, and publishers. Australia will now benefit from privacy-first advertising that reaches consumers through their real-time interests at scale. This launch follows Seedtag’s successful market entries in India and Peru in 2023 and Canada in 2024.
For over a decade, Seedtag has been developing its in-house contextual AI technology, Liz, to meet the ever evolving needs of the adtech industry. In 2024, Seedtag was awarded “Best Contextual Targeting Offering” at Digiday Media Awards. The acquisition of JustEggs increases Seedtag’s presence to a total of 17 markets.
“The acquisition of JustEggs is a clear example of Seedtag’s willingness to continue its international expansion into the APAC region,” said Albert Nieto, Co-CEO & Co-Founder of Seedtag. “We are very excited to partner with one of the best teams in our industry to bring contextual intelligence to new heights.”
“Teaming up with Seedtag thrusts us into a fresh era of digital advertising innovation for the ANZ market,” said Nik Kontoulas, founder of JustEggs. “With their proprietary tech and global reach, we’re geared up for success in a cookieless world and beyond. It’s an exciting journey ahead.”
“Australia is a very sophisticated, data and technology-led market, and we have much to contribute to this local digital advertising industry,” said Dal Gill, VP of New Markets at Seedtag. “Following our successful entry into India, this is the second market we have opened in the APAC region. I’m confident that our unique contextual advertising solutions will greatly benefit Australian brands and publishers in achieving their advertising goals while meeting the demand for privacy-first, scalable targeting.”
About Seedtag
Seedtag is the leading contextual advertising company that creates highly impactful and engaging digital ads within relevant premium content, powering targeting and returns for top publishers and the finest brands. The company’s contextual AI, Liz, allows brands to engage with consumers within their universe of interest on a cookie-free basis.
Seedtag was founded in Madrid in 2014 by two ex-googlers who wanted to get the most out of editorial images. Today, it is a global company with more than 600 employees and a significant international presence, with offices in Spain, France, Italy, UK, Benelux, Germany, Mexico, Brazil, Colombia, Argentina, Chile, UAE, Peru, Canada, US, India and Australia.
About JustEggs
Founded in 2013 JustEggs specialize in the convergence of creative, media and data, helping 100+ brands drive customer acquisition and retention.
The mission always remains to evolve the digital ad market with effective and measurable digital ad solutions that drive relevancy for consumers and real world results for retail marketers.
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View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/seedtag-enters-australian-market-with-acquisition-of-justeggs-302186843.html
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