Artificial Intelligence
Insights on the Augmented Reality Global Market to 2025 – Key Drivers and Restraints
Dublin, Aug. 28, 2020 (GLOBE NEWSWIRE) — The “Augmented Reality (AR) in Healthcare Market – Forecasts from 2020 to 2025” report has been added to ResearchAndMarkets.com’s offering.
AR in healthcare market is witnessing a big boost with a high expected CAGR of 31.63% and market value expected to rise from US$779.994 million in 2019 to US$4,057.144 million in 2025. Augmented Reality (AR) and Virtual Reality (VR) technologies are gaining significant traction among healthcare experts owing to their numerous applications that range from assessment of surgical preparation to minimally invasive surgery and rehabilitation.
Other applications of augmented reality in healthcare include medical training and pharmacy benefits management. As the population increases, the growing demand for surgical treatment as well as healthcare expenditure among people is boosting the application of augmented reality and virtual reality technologies in the healthcare sector by a significant degree. Technological advancement in augmented reality and artificial intelligence technologies along with the increasing workload of healthcare professionals and stringent regulatory compliances in laboratory testing is expected to bolster the market forecasts in the upcoming years.
Higher adoption of mobile augmented reality technology helps in bridging the gap in the patient-healthcare provider relationship and also helps patients to make better decisions about their health by educating and proving information to them. Furthermore, the use of augmented reality for teaching complex subjects to medical students, training doctors, and caring and supporting patients after they leave the hospital is driving the growth of the augmented reality market in the healthcare industry.
Growing expenditure on healthcare by maturing population, especially on surgical treatments
The increasing geriatric population in many parts of the world is expected to be one of the prime drivers for the growth of the market over the forecast period. For instance, the WHO has projected a 50% rise in annual cardiovascular disease events between 2010 and 2030 based solely on the growing geriatric population in a developing country like China. According to the World Bank estimates, the geriatric population (65 years of age or older) in the United Kingdom has grown from an 11.706 million in 2015 to a population size of 12.231 million in 2018. The market for augmented reality is anticipated to grow majorly driven by significant growth in the healthcare expenditure coupled with the rising number of surgeries in various parts of the market. For instance, according to the Federal Statistical Office (Destatis), 410,840 surgeries related to heart were performed in German hospitals during the year 2018 which were considered 23% higher in the number of surgeries performed in 2008. In addition, the total number of surgeries performed in German hospitals increased from 41,792,830 per year in 2008 to 61,371,955 by 2018. Also, in Saudi Arabia, the current healthcare expenditure, as a percentage of the GDP of the country, has been on a steady rise since 2010 (source: The World Bank Group). In absolute figures, the country allocated US$39.2 billion in 2018 for Healthcare and Social Development Sector, which was 10% more than the previous year.
By product offering software segment is anticipated to grow significantly during the forecast period.
Augmented reality software assists physicians in imaging, diagnoses, management of medical records, in-patient care, lifestyle management, and precision medicine. Not only it assists in making a better treatment plan but it also provides physicians all the information needed to make a better decision for the patients by diagnosing the life-threatening diseases such as cancer at the early stages. Using software surgeons can visualize bones, muscles, and internal organs without even having to cut open a body. Virtual assistance due to the increasing usage of smartphones and devices along with the increasing number of players such as Siemens Healthineers, Philips Healthcare, and Microsoft are responsible for an increase in the software offered by the healthcare augmented reality market. In addition, today healthcare mobile apps are also using AR to give their users better experience and to improve efficiency and results. Doctors, patients, nurses, and trainees are benefitted from AR-based healthcare apps which is completely changing the everyday medicine and healthcare services for both patients and doctors.
Geographically North America is expected to hold a significant share in the market
Geographically, North America is holding significant share owing to the early adoption of technology and the presence of major market players in the region. In addition, growing technological advancement in information technology coupled with the extensive R&D activities in the United States is also expected to propel the growth opportunities in the region in the coming years. Besides, Asia Pacific is predicted to register exponential growth over the forecast period. Factors such as growing healthcare expenditure and favorable government initiatives to attract foreign investment in the healthcare sector are further boosting the growth of the market in the region.
Key Topics Covered:
1. Introduction
1.1. Market Definition
1.2. Market Segmentation
2. Research Methodology
2.1. Research Data
2.2. Assumptions
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. Augmented Reality (AR) in Healthcare Market Analysis, By Product
5.1. Introduction
5.2. Hardware
5.2.1. Sensors
5.2.2. Displays and projectors
5.2.3. Position trackers
5.2.4. Others
5.3. Software
6. Augmented Reality (AR) in Healthcare Market Analysis, By Device Type
6.1. Introduction
6.2. Head-mounted displays
6.3. Handheld devices
6.4. Others
7. Augmented Reality (AR) in Healthcare Market Analysis, By End-User
7.1. Introduction
7.2. Hospitals and Clinics
7.3. Research Laboratories
7.4. Others
8. Augmented Reality (AR) in Healthcare Market Analysis, By Geography
8.1. Introduction
8.2. North America
8.2.1. United States
8.2.2. Canada
8.2.3. Mexico
8.3. South America
8.3.1. Brazil
8.3.2. Others
8.4. Europe
8.4.1. UK
8.4.2. Germany
8.4.3. France
8.4.4. Spain
8.4.5. Italy
8.4.6. Others
8.5. Middle East and Africa
8.5.1. Israel
8.5.2. Saudi Arabia
8.5.3. Others
8.6. Asia Pacific
8.6.1. Japan
8.6.2. China
8.6.3. India
8.6.4. South Korea
8.6.5. Others
9. Competitive Environment and Analysis
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. Company Profiles
10.1. Microsoft Corporation
10.2. Oculus VR
10.3. Philips Healthcare
10.4. Medsights Tech Corp.
10.5. VirtaMed
10.6. Siemens Healthineers
10.7. Fundamental VR
10.8. Medical Realities
10.9. Surgical Theatre, LLC
For more information about this report visit https://www.researchandmarkets.com/r/fo4uex
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Artificial Intelligence
Tencent Announces Winners of Flagship CarbonX Program to Combat Climate Change
SHENZHEN, China, May 23, 2024 /PRNewswire/ — Tencent (00700.HK) is awarding 13 exceptional teams that won the first phase of its groundbreaking CarbonX Program, which is aimed at boosting promising new climate technologies. The winners, which emerged from a pool of 30 finalists and more than 300 initial applications, will receive a total of around RMB 100 million (US$14 million) in financial support from Tencent. It showcases the company’s commitment to driving sustainable social innovations in the fight against climate change.
CarbonX was launched in March 2023 to advance the next generation of low-carbon technologies. Tencent has committed RMB 200 million (US$28 million) in catalytic funding over the next three years to innovative ideas that might otherwise languish or fail to gain traction.
CarbonX’s first phase focused on carbon capture, utilization, and storage (CCUS), as well as technology-based carbon removal. These solutions were chosen for their unique ability to curb emissions from hard-to-abate industries such as steel and cement, mitigate the continued reliance on fossil fuels, and reduce legacy emissions created from decades of industrialization.
Backed by Tencent’s mission of Tech for Good and an alliance of like-minded industry partners, CarbonX aims to help these cutting-edge technologies make the leap from the research or early startup stage to commercial scale. The ultimate goal is supporting them in making a significant impact toward the targets outlined in the Paris Agreement, which includes a 45 percent reduction in emissions by 2030 and achieving net-zero emissions by 2050.
Dr. Hao Xu, Tencent’s Vice President of Sustainable Social Value and Head of Tencent’s Carbon Neutrality Lab, said: “Technology innovation serves as the driving force to accelerate our progress toward achieving carbon neutrality. CarbonX program is aimed at fostering the growth of these technologies, driving positive impact across society, and laying the groundwork for a more sustainable future.”
Professor Jerry Yan, Chair Professor of the Hong Kong Polytechnic University and Co-chairman of the CarbonX expert committee, said: “To pave the path for a greener economy, we must champion the development of cutting-edge low-carbon technologies. Just as solar and wind power were nurtured in their infancy, emerging solutions like CCUS and tech-based carbon removal demand our early support.”
The program assembled a panel of experts from academia, industries, and the investor community as the jury, and welcomed submissions from diverse participants across three distinct tracks:
CarbonX Lab: Designed to incubate research institutions, universities, or labs that bring in game-changing climate solutionsCarbonX Accelerator: Designed to accelerate the growth of climate-tech startups that exhibit commercialization potentialCarbonX Infrastructure: Designed to support capacity building to facilitate industry developmentThe finalists comprise four projects from the Lab track, six from the Accelerator track, and three from the Infrastructure track. These projects explore innovative solutions, such as using steel slag to capture and store carbon directly from furnace exhaust, converting CO2 into sustainable aviation fuel and valuable chemicals through electrochemical reactions or microorganisms, and employing new approaches to directly capture CO2 from the atmosphere with the hope of slashing the cost to less than US$150 per ton.
Meanwhile, Tencent is also collaborating with Tsinghua University to develop a comprehensive system of Measure, Reporting and Verification (MRV) tools to accurately gauge progress toward decarbonization.
Aside from receiving financial and advisory support, several projects will also have the opportunity to collaborate with industry partners and test their research beyond the laboratory setting.
Building upon the success of the first phase, Tencent is poised to launch the second iteration of CarbonX globally as early as later this year in pursuit of early-stage climate tech innovation.
View original content:https://www.prnewswire.co.uk/news-releases/tencent-announces-winners-of-flagship-carbonx-program-to-combat-climate-change-302153596.html
Artificial Intelligence
NEXCOM Delivers Exceptional Performance in Edge AI Video Analytics
TAIPEI, May 23, 2024 /PRNewswire/ — NEXCOM, a leading supplier of network solutions, published AI and storage performance test results of its NSA 7160R: high-performance Edge server. NSA 7160R is powered by dual Intel® Xeon® Scalable processors for high computing, and enhanced with DDR5 memory, high-bandwidth PCIe Gen5 LAN modules, and high-capacity NVMe storage modules. The test results show the efficiency of the NSA 7160R in processing edge video server workloads and were explained in the accompanying paper.
Edge AI Is the Future
With the rise of smart cities, processing data from cloud to the edge is becoming increasingly critical. Imagine the surge of visual data from ubiquitous security cameras – that information needs real-time analysis right where it’s collected. This is just the tip of the iceberg. As artificial intelligence permeates our lives, certain AI tasks will also need edge computing for efficient, lightning-fast performance. The key is to avoid bottlenecks in the data center by keeping things localized and streamlined.
Your Turnkey Solution Awaits
When it comes to Edge video servers, you need top-notch hardware and software that can handle all the “heavy lifting”. To speed up the total solution bringing up Intel comes in with their Intel® Edge Video Infrastructure (Intel® EVI) reference design. NEXCOM ran a bunch of tests using this design to evaluate its NSA 7160R for essential tasks including storage, image retrieval, and AI features such as inference and feature matching.
After conducting all tests, the results have shown that NSA 7160R meets all performance expectations with outstanding results. For a detailed breakdown of the solution description, test configuration, and results, please refer to the accompanying paper.
Intel, the Intel logo, and other Intel marks are trademarks of Intel Corporation or its subsidiaries.
About NEXCOM
Founded in 1992 and headquartered in Taipei, Taiwan, NEXCOM integrates its diverse capabilities and operates six global businesses, including the Network and Communication Solutions (NCS) unit. NCS focuses on the latest network technology and helps to build reliable network infrastructure, by delivering professional design and manufacturing services for customers all over the world. NCS’s network application platform is widely adopted in Cyber Security, Load Balancing, 5G uCPE, SD-WAN, SASE, Edge Computing, OT Security, Storage, NVR, and other network applications for businesses of all sizes.
Video – https://www.youtube.com/watch?v=4WlO8fyWnu4
View original content:https://www.prnewswire.co.uk/news-releases/nexcom-delivers-exceptional-performance-in-edge-ai-video-analytics-302153555.html
Artificial Intelligence
Qiming Venture Partners Promotes Alex Zhou to Managing Partner
SHANGHAI, May 23, 2024 /PRNewswire/ — Qiming Venture Partners, a global-leading venture capital firm, is pleased to announce the promotion of Alex Zhou to Managing Partner.
As a Qiming home-grown Managing Partner, Alex first joined the firm in 2014 as a Vice President and has since emerged as one of the most active investors in frontier technologies, especially in the field of artificial intelligence. Alex will join fellow Managing Partners Duane Kuang, Nisa Leung and William Hu in managing Qiming’s operations.
In the past few years, Alex has actively participated in or led investments in many outstanding technology companies across the artificial intelligence, robotics, semiconductors, new energy vehicles, and software sectors. Notable among these include Roborock, UBTech, Unisound, Biren Technology, ROX Motor, VIEWTRIX Technology, Zhipu AI, Mech-Mind Robotics, Axera, HyperStrong, DeepWay, etc.
“I am deeply grateful for the guidance and trust I received from Qiming over the past 10 years.” Alex said. “We are at the forefront of a new wave of technological revolution. This era will undoubtedly bring about many bold innovators who will shape the future. Together with all the Managing Partners and colleagues at Qiming, I am excited and fully committed to seize the opportunities, embrace any potential challenges, explore new possibilities and build a better Qiming.”
Since its inception 18 years ago, Qiming has always committed to upgrading its institutional capabilities and team development in order to stay ahead in an ever-evolving technological and market landscape. The success achieved in the fields of healthcare, mobile internet and frontier technology is a testament to this strategic approach. Alex’s promotion to the most senior position in the firm demonstrates Qiming’s continued confidence in the future of technology innovation.
About Qiming Venture Partners
Qiming Venture Partners was founded in 2006. Currently, Qiming Venture Partners manages eleven US Dollar funds and seven RMB funds with $9.5 billion in capital raised. Since our establishment, we have invested in outstanding companies in the Technology and Consumer (T&C) and Healthcare industries at the early and growth stages.
Since our debut, we have backed over 530 fast-growing and innovative companies. Over 200 of our portfolio companies have achieved exits through IPOs at the NYSE, NASDAQ, HKEX, Shanghai Stock Exchange, or Shenzhen Stock Exchange, or through M&A or other means. There are also over 70 portfolio companies that have achieved unicorn or super unicorn status.
Many of our portfolio companies are today’s most influential firms in their respective sectors, including Xiaomi, Meituan, Bilibili, Zhihu, Roborock, Gan & Lee Pharmaceuticals, Tigermed, Zai Lab, CanSino Biologics, Schrödinger, APT Medical, New Horizon Health, Sanyou Medical, AmoyDx, Berry Genomics, SinocellTech, UBTech, Yuanxin Technology, Caidya, Belief BioMed, WeRide, among many others.
View original content:https://www.prnewswire.co.uk/news-releases/qiming-venture-partners-promotes-alex-zhou-to-managing-partner-302153306.html
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