Artificial Intelligence
The global market for Smart Gas is projected to reach US$29. 9 billion by 2025
New York, Sept. 10, 2020 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Global Smart Gas Meters Industry” – https://www.reportlinker.com/p05961433/?utm_source=GNW
Also driving growth in the market are factors such as growing global gas demand from 3,000 Mtoe in 2015 to 4,100 Mtoe by 2035 and the ensuing need for efficient distribution networks and billing system; spiraling shale gas production with technology developments promising to tap into the over 5,770 trillion cubic feet of technically recoverable shale gas reserves worldwide; robust demand for modular & integrated gas meters; increasing adoption of SCADA; increasing integration of cloud computing, IoT & artificial intelligence in advanced metering infrastructure (AMI); and rise of smart cities to over 170 cities from 85 countries and growing investments in smart distribution of utility resources such as electricity, water and gas. Utility services, interestingly is the starting point for all “smart city” initiatives given the fact that smarter infrastructure provision is the goal of the smart city concept. Water, electricity and gas are the most important utility infrastructures owned by municipalities. Alongside smart grids, connected gas infrastructure is also a key focus area for governments worldwide. Smart gas technologies ensure uninterrupted gas distribution, pressure measurements, pipe corrosion protection, leak detection, remote disconnection, and smarter use and consumption. Installation of smart gas meters is just the starting point for utilities seeking to optimize the entire process by developing effective communication networks replete with sensors and big data analytics. The scenario is driving increased investments in national smart meter programs, spatial management of transmission pipeline networks; on-site automation systems; use of intelligent metering software and cloud computing for gas leakage and outflow detection and identification of safety issues.
Few of the benefits of smart gas solutions driving investments in transformation of gas networks include operational cost benefits that accompany automation; better energy planning as it offers real-time data on energy costs and related carbon emissions; provides opportunity for voluntarily reducing household gas consumption; enables implementation of multi tariff features to allow for better demand response management; improved profitability for utilities as it reduces the ’costs to serve’; and helps governments battle climate change and achieve slated goals of energy directives. Smart gas solutions, in AMI or AMR metering formats, establish a system-wide communications network, thereby encompassing all the service points on the gas utility grid and seamlessly connect with DNP, IEC 61850, and TCP/IP devices across the grid besides allowing the IEEE 802.15.4g connectivity over the AMI mesh. With such sophisticated attributes, smart meters equip utilities with a robust tool that can help them in realizing innovative functionalities when integrated into the conventional distribution automation infrastructure. Integration of smart gas meters enabled AMI with distribution automation potentially offers unprecedented, previously unexplored opportunities for the modernization of power grids. Such new opportunities include efficient outage management, economical fault isolation, superior transformer and feeder monitoring, and electric vehicle integration among others. Europe represents the largest market worldwide, supported by favorable regulations and funding support that encourage adoption of smart gas solutions across the entire natural gas chain comprising mining, storage, transmission, distribution and final consumption. Asia-Pacific including China ranks is a major market led by stringent energy efficiency regulations given the fact that developing countries utilize more resources partially due to energy wastages and mismanagement.
Read the full report: https://www.reportlinker.com/p05961433/?utm_source=GNW
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Impact of COVID-19 Pandemic on Smart Meters Market
Pandemic Crisis Weakens Economic Environment, Triggering
Negative Tide in GDP
World Economic Growth Projections (Real GDP, Annual % Change)
for 2019, 2020 & 2021
Smart Gas Solutions: Enabling Intelligent Metering, Monitoring,
Measuring and Control of Gas
Smart Gas Meters: Gateway to the Digital Transformation of
Utilities
A Note on Communication Infrastructure for Smart Gas Networks
Global Market Prospects & Outlook
AMR Meters Continue to be Major Device Type, AMI Meters Exhibit
Fast Paced Growth
While Developed Regions Remain Primary Revenue Contributors,
Developing Regions Hold Strong Growth Potential
Global Smart Gas Meters Market by Region: Percentage Breakdown
of Revenues for Developed and Developing Regions (2020 & 2027)
Global Market for Smart Gas Meters – Geographic Regions Ranked
by % CAGR (Revenues) for 2020-2027
Competitive Landscape
American & European Vendors Dominate the Market
Asian Enterprises Aim to Widen Market Footprint
Novel Strategies Take Center Stage amid Escalating Competition
Analytics: New Revenue Source for Software Vendors
World Gas Meters Market: Market Share Findings
Gas Meters Competitor Market Share Scenario Worldwide (in %): 2020
World Brands
Recent Market Activity
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
Laying Strong Foundation for the Digital Transformation of Gas
Infrastructure, Smart Gas Metering Solutions Seek to
Revolutionize Gas Utility Operations
Growing Relevancy of Smart Metering Solutions in Modern Gas
Utility: An Overview
Utility Modernization & Upgrade Programs Create Highly
Conducive Environment for Smart Gas Market
Demographic Dynamics Spur Energy Demand & Need for Reliable Gas
Infrastructure, Creating Opportunities for Smart Gas
Technologies
World Population (in Thousands) by Geographic Region for the
Years 2019, 2030, 2050, 2100
A Note on Energy Demand Patterns
Projected Global Demand for Electricity (TWh): 2015, 2020,
2025, 2030 & 2035
Global Primary Energy Consumption (Billion toe): Growth
Trajectory for the Period 1990-2040
Global Primary Energy Consumption (Billion toe) by End-Use
Sector (1995, 2017 and 2040)
Global Energy Consumption (Billion toe) by Country/Region:
(1995, 2017 and 2040): Breakdown for USA, China, India, Russia,
Brazil, EU, Middle East and Rest of World
Urbanization Trend Instigates the Need for Modern Gas Utility
Network
World Urban Population in Thousands: 1950-2050
Percentage of Urban Population in Select Countries for 2018,
2020, 2030, 2040 and 2050
Smart City, the New Urban Infrastructure Concept, to Fuel Next
Wave of Growth
Global Market for Smart City Technologies in US$ Million for
the Years 2019 and 2025
Emergence of Natural Gas as Reliable Energy Source & Parallel
Increase in Gas Infrastructure Investments Creates Fertile
Environment
Global Energy Production: Percentage Share Breakdown of
Production Volume by Energy Source for Years 1990, 2015 & 2035
Global Energy Consumption: Percentage Share Breakdown of
Consumption Volume by Energy Source for the Years 1990, 2015 &
2035
Global Natural Gas Production: Percentage Share Breakdown of
Production Volume by Region/Country for Years 1990, 2015 &
2035
Global Natural Gas Consumption: Percentage Share Breakdown of
Consumption Volume by Region/Country for Years 1990, 2015 &
2035
Offering Myriad Benefits, Natural Gas Withstands Competition
from Renewable Energy Sources
Evolving Image of Shale Gas as a Viable Energy Source Bodes
Well for the Market
Technically Recoverable Shale Gas (In Trillion Cubic Feet) by
Geographic Region
Surging Demand for Fuel Gas Steers Market Penetration
Global Natural Gas Reserves (in % Volume) by Geographic Region
Residential Vertical Remains the Dominant Segment for Consumer
-Grade Smart Gas Solutions
Growing Consumer Spending on Smart Home Technologies Favors Growth
Global Smart Homes Market (In US$ Billion) for the Years 2019,
2021, 2023 & 2025
Smart Gas Solutions Gain Traction in Commercial & Industrial
End-Use Domains
Need to Improve Functionality & Efficiency Paves Way for Wider
Uptake of Utility Automation & Control Solutions
SCADA Systems
Real-Time Data
Big Data and IoT: Next Frontiers for Smart Gas
Smart Gas Technologies Emphasize IIoT Ecosystem in Gas Utility
World Big Data Market: Breakdown of Annual Revenues (in US$
Billion) for Years 2015, 2019 & 2025
Global Number of IoT Connected Devices (In Billion) for the
Years 2016, 2018, 2020, 2022 & 2025
Cloud-based Software Solutions: Next Big Thing in Gas Networks
On-Premises Vs. Cloud-based Software: A Cost Comparison Analysis
Wireless Communication Systems Gain Traction in Smart Gas Networks
Regulations & Standards Instigate New Demand for Smart Gas
Infrastructure Solutions
Regulators and Utilities Address Consumer Concerns about Smart
Gas Solutions
Resolving Prevailing Challenges: Critical for Future Success of
the Market
High Deployment Costs
Lack of Unified Standards & Interoperability Issues
Privacy & Data Security Concerns
Declining Natural Gas Prices & Lack of Incentives
Improving Battery Lifetime: Need of the Hour
4. GLOBAL MARKET PERSPECTIVE
Table 1: World Current & Future Analysis for Smart Gas Meters
by Geographic Region – USA, Canada, Japan, China, Europe,
Asia-Pacific and Rest of World Markets – Independent Analysis
of Annual Sales in US$ Million for Years 2020 through 2027
Table 2: World 7-Year Perspective for Smart Gas Meters by
Geographic Region – Percentage Breakdown of Value Sales for
USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of
World Markets for Years 2020 & 2027
Table 3: World Current & Future Analysis for Advanced Meter
Infrastructure (AMI) by Geographic Region – USA, Canada, Japan,
China, Europe, Asia-Pacific and Rest of World Markets –
Independent Analysis of Annual Sales in US$ Million for Years
2020 through 2027
Table 4: World 7-Year Perspective for Advanced Meter
Infrastructure (AMI) by Geographic Region – Percentage
Breakdown of Value Sales for USA, Canada, Japan, China, Europe,
Asia-Pacific and Rest of World for Years 2020 & 2027
Table 5: World Current & Future Analysis for Automatic Meter
Reading (AMR) by Geographic Region – USA, Canada, Japan, China,
Europe, Asia-Pacific and Rest of World Markets – Independent
Analysis of Annual Sales in US$ Million for Years 2020 through
2027
Table 6: World 7-Year Perspective for Automatic Meter Reading
(AMR) by Geographic Region – Percentage Breakdown of Value
Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and
Rest of World for Years 2020 & 2027
Table 7: World Current & Future Analysis for Residential by
Geographic Region – USA, Canada, Japan, China, Europe,
Asia-Pacific and Rest of World Markets – Independent Analysis
of Annual Sales in US$ Million for Years 2020 through 2027
Table 8: World 7-Year Perspective for Residential by Geographic
Region – Percentage Breakdown of Value Sales for USA, Canada,
Japan, China, Europe, Asia-Pacific and Rest of World for Years
2020 & 2027
Table 9: World Current & Future Analysis for Commercial by
Geographic Region – USA, Canada, Japan, China, Europe,
Asia-Pacific and Rest of World Markets – Independent Analysis
of Annual Sales in US$ Million for Years 2020 through 2027
Table 10: World 7-Year Perspective for Commercial by Geographic
Region – Percentage Breakdown of Value Sales for USA, Canada,
Japan, China, Europe, Asia-Pacific and Rest of World for Years
2020 & 2027
Table 11: World Current & Future Analysis for Industrial by
Geographic Region – USA, Canada, Japan, China, Europe,
Asia-Pacific and Rest of World Markets – Independent Analysis
of Annual Sales in US$ Million for Years 2020 through 2027
Table 12: World 7-Year Perspective for Industrial by Geographic
Region – Percentage Breakdown of Value Sales for USA, Canada,
Japan, China, Europe, Asia-Pacific and Rest of World for Years
2020 & 2027
III. MARKET ANALYSIS
GEOGRAPHIC MARKET ANALYSIS
UNITED STATES
While COVID-19 Hits Smart Meters Market, Focus on Energy
Efficiency in Utilities and Smart Cities Projects to Drive
Long-term Growth
The United States: Prime Market for Smart Gas Solutions & Services
American Gas Utilities Prioritize Smart Technologies in their
Networks
Multifarious Benefits Make Strong Business Case for AMI Smart
Gas Networks
A Brief Note on Issues Hampering Growth Prospects
Competitive Scenario: Domestic Vendors Dominate the Market
Market Analytics
Table 13: USA Current & Future Analysis for Smart Gas Meters by
Technology – Advanced Meter Infrastructure (AMI) and Automatic
Meter Reading (AMR) – Independent Analysis of Annual Sales in
US$ Million for the Years 2020 through 2027
Table 14: USA 7-Year Perspective for Smart Gas Meters by
Technology – Percentage Breakdown of Value Sales for Advanced
Meter Infrastructure (AMI) and Automatic Meter Reading (AMR)
for the Years 2020 & 2027
Table 15: USA Current & Future Analysis for Smart Gas Meters by
End-Use – Residential, Commercial and Industrial – Independent
Analysis of Annual Sales in US$ Million for the Years 2020
through 2027
Table 16: USA 7-Year Perspective for Smart Gas Meters by
End-Use – Percentage Breakdown of Value Sales for Residential,
Commercial and Industrial for the Years 2020 & 2027
CANADA
Table 17: Canada Current & Future Analysis for Smart Gas Meters
by Technology – Advanced Meter Infrastructure (AMI) and
Automatic Meter Reading (AMR) – Independent Analysis of Annual
Sales in US$ Million for the Years 2020 through 2027
Table 18: Canada 7-Year Perspective for Smart Gas Meters by
Technology – Percentage Breakdown of Value Sales for Advanced
Meter Infrastructure (AMI) and Automatic Meter Reading (AMR)
for the Years 2020 & 2027
Table 19: Canada Current & Future Analysis for Smart Gas Meters
by End-Use – Residential, Commercial and Industrial –
Independent Analysis of Annual Sales in US$ Million for the
Years 2020 through 2027
Table 20: Canada 7-Year Perspective for Smart Gas Meters by
End-Use – Percentage Breakdown of Value Sales for Residential,
Commercial and Industrial for the Years 2020 & 2027
JAPAN
Smart Gas Solutions Enthuse Japanese Utilities Seeking to Build
Low Carbon, Energy-Efficient Society
Utilities Rely on Telemetering Infrastructure to Implement
Smart Gas Networks
Market Analytics
Table 21: Japan Current & Future Analysis for Smart Gas Meters
by Technology – Advanced Meter Infrastructure (AMI) and
Automatic Meter Reading (AMR) – Independent Analysis of Annual
Sales in US$ Million for the Years 2020 through 2027
Table 22: Japan 7-Year Perspective for Smart Gas Meters by
Technology – Percentage Breakdown of Value Sales for Advanced
Meter Infrastructure (AMI) and Automatic Meter Reading (AMR)
for the Years 2020 & 2027
Table 23: Japan Current & Future Analysis for Smart Gas Meters
by End-Use – Residential, Commercial and Industrial –
Independent Analysis of Annual Sales in US$ Million for the
Years 2020 through 2027
Table 24: Japan 7-Year Perspective for Smart Gas Meters by
End-Use – Percentage Breakdown of Value Sales for Residential,
Commercial and Industrial for the Years 2020 & 2027
CHINA
China: A Lucrative Market
Market Analytics
Table 25: China Current & Future Analysis for Smart Gas Meters
by Technology – Advanced Meter Infrastructure (AMI) and
Automatic Meter Reading (AMR) – Independent Analysis of Annual
Sales in US$ Million for the Years 2020 through 2027
Table 26: China 7-Year Perspective for Smart Gas Meters by
Technology – Percentage Breakdown of Value Sales for Advanced
Meter Infrastructure (AMI) and Automatic Meter Reading (AMR)
for the Years 2020 & 2027
Table 27: China Current & Future Analysis for Smart Gas Meters
by End-Use – Residential, Commercial and Industrial –
Independent Analysis of Annual Sales in US$ Million for the
Years 2020 through 2027
Table 28: China 7-Year Perspective for Smart Gas Meters by
End-Use – Percentage Breakdown of Value Sales for Residential,
Commercial and Industrial for the Years 2020 & 2027
EUROPE
Though COVID-19 Pandemic Halts Smart Meter Installations in
Europe, Future Prospects Remain Bright
Europe: Driving Force Behind World Smart Gas Solutions Market
Huge Gas Consumer Base Makes Europe a Ripe Market for Smart Gas
Metering Solutions
Various Approaches Possible for Smart Meter Deployments
Overview of Smart Meter Deployments across Europe
Challenges Deterring the Full-Scale Implementation of Smart Gas
Meters
Market Analytics
Table 29: Europe Current & Future Analysis for Smart Gas Meters
by Geographic Region – France, Italy, UK and Rest of Europe
Markets – Independent Analysis of Annual Sales in US$ Million
for Years 2020 through 2027
Table 30: Europe 7-Year Perspective for Smart Gas Meters by
Geographic Region – Percentage Breakdown of Value Sales for
France, Italy, UK and Rest of Europe Markets for Years 2020 &
2027
Table 31: Europe Current & Future Analysis for Smart Gas Meters
by Technology – Advanced Meter Infrastructure (AMI) and
Automatic Meter Reading (AMR) – Independent Analysis of Annual
Sales in US$ Million for the Years 2020 through 2027
Table 32: Europe 7-Year Perspective for Smart Gas Meters by
Technology – Percentage Breakdown of Value Sales for Advanced
Meter Infrastructure (AMI) and Automatic Meter Reading (AMR)
for the Years 2020 & 2027
Table 33: Europe Current & Future Analysis for Smart Gas Meters
by End-Use – Residential, Commercial and Industrial –
Independent Analysis of Annual Sales in US$ Million for the
Years 2020 through 2027
Table 34: Europe 7-Year Perspective for Smart Gas Meters by
End-Use – Percentage Breakdown of Value Sales for Residential,
Commercial and Industrial for the Years 2020 & 2027
FRANCE
GrDF Undertakes Massive Smart Meter Project in France
Market Analytics
Table 35: France Current & Future Analysis for Smart Gas Meters
by Technology – Advanced Meter Infrastructure (AMI) and
Automatic Meter Reading (AMR) – Independent Analysis of Annual
Sales in US$ Million for the Years 2020 through 2027
Table 36: France 7-Year Perspective for Smart Gas Meters by
Technology – Percentage Breakdown of Value Sales for Advanced
Meter Infrastructure (AMI) and Automatic Meter Reading (AMR)
for the Years 2020 & 2027
Table 37: France Current & Future Analysis for Smart Gas Meters
by End-Use – Residential, Commercial and Industrial –
Independent Analysis of Annual Sales in US$ Million for the
Years 2020 through 2027
Table 38: France 7-Year Perspective for Smart Gas Meters by
End-Use – Percentage Breakdown of Value Sales for Residential,
Commercial and Industrial for the Years 2020 & 2027
ITALY
Italy Follows Up Successful Smart Electricity Meter Rollout
with Smart Gas Meters
Major Challenges Confronting Smart Gas Meters Installation in
Italy
Market Analytics
Table 39: Italy Current & Future Analysis for Smart Gas Meters
by Technology – Advanced Meter Infrastructure (AMI) and
Automatic Meter Reading (AMR) – Independent Analysis of Annual
Sales in US$ Million for the Years 2020 through 2027
Table 40: Italy 7-Year Perspective for Smart Gas Meters by
Technology – Percentage Breakdown of Value Sales for Advanced
Meter Infrastructure (AMI) and Automatic Meter Reading (AMR)
for the Years 2020 & 2027
Table 41: Italy Current & Future Analysis for Smart Gas Meters
by End-Use – Residential, Commercial and Industrial –
Independent Analysis of Annual Sales in US$ Million for the
Years 2020 through 2027
Table 42: Italy 7-Year Perspective for Smart Gas Meters by
End-Use – Percentage Breakdown of Value Sales for Residential,
Commercial and Industrial for the Years 2020 & 2027
UNITED KINGDOM
The UK Market Blazes the Trail with Ambitious Smart Gas
Metering Program
Market Analytics
Table 43: UK Current & Future Analysis for Smart Gas Meters by
Technology – Advanced Meter Infrastructure (AMI) and Automatic
Meter Reading (AMR) – Independent Analysis of Annual Sales in
US$ Million for the Years 2020 through 2027
Table 44: UK 7-Year Perspective for Smart Gas Meters by
Technology – Percentage Breakdown of Value Sales for Advanced
Meter Infrastructure (AMI) and Automatic Meter Reading (AMR)
for the Years 2020 & 2027
Table 45: UK Current & Future Analysis for Smart Gas Meters by
End-Use – Residential, Commercial and Industrial – Independent
Analysis of Annual Sales in US$ Million for the Years 2020
through 2027
Table 46: UK 7-Year Perspective for Smart Gas Meters by End-Use –
Percentage Breakdown of Value Sales for Residential,
Commercial and Industrial for the Years 2020 & 2027
REST OF EUROPE
The Netherlands: Government Mandates Electricity and Gas Smart
Meter Rollout
Market Analytics
Table 47: Rest of Europe Current & Future Analysis for Smart
Gas Meters by Technology – Advanced Meter Infrastructure (AMI)
and Automatic Meter Reading (AMR) – Independent Analysis of
Annual Sales in US$ Million for the Years 2020 through 2027
Table 48: Rest of Europe 7-Year Perspective for Smart Gas
Meters by Technology – Percentage Breakdown of Value Sales for
Advanced Meter Infrastructure (AMI) and Automatic Meter Reading
(AMR) for the Years 2020 & 2027
Table 49: Rest of Europe Current & Future Analysis for Smart
Gas Meters by End-Use – Residential, Commercial and Industrial –
Independent Analysis of Annual Sales in US$ Million for the
Years 2020 through 2027
Table 50: Rest of Europe 7-Year Perspective for Smart Gas
Meters by End-Use – Percentage Breakdown of Value Sales for
Residential, Commercial and Industrial for the Years 2020 &
2027
ASIA-PACIFIC
Robust Growth Forecasts for Smart Gas Solutions in Asia-Pacific
India: Smart Gas Metering Projects Gain Traction
Market Analytics
Table 51: Asia-Pacific Current & Future Analysis for Smart Gas
Meters by Technology – Advanced Meter Infrastructure (AMI) and
Automatic Meter Reading (AMR) – Independent Analysis of Annual
Sales in US$ Million for the Years 2020 through 2027
Table 52: Asia-Pacific 7-Year Perspective for Smart Gas Meters
by Technology – Percentage Breakdown of Value Sales for
Advanced Meter Infrastructure (AMI) and Automatic Meter Reading
(AMR) for the Years 2020 & 2027
Table 53: Asia-Pacific Current & Future Analysis for Smart Gas
Meters by End-Use – Residential, Commercial and Industrial –
Independent Analysis of Annual Sales in US$ Million for the
Years 2020 through 2027
Table 54: Asia-Pacific 7-Year Perspective for Smart Gas Meters
by End-Use – Percentage Breakdown of Value Sales for
Residential, Commercial and Industrial for the Years 2020 &
2027
REST OF WORLD
Brazil: Growing Market for Smart Gas Technologies
Market Analytics
Table 55: Rest of World Current & Future Analysis for Smart Gas
Meters by Technology – Advanced Meter Infrastructure (AMI) and
Automatic Meter Reading (AMR) – Independent Analysis of Annual
Sales in US$ Million for the Years 2020 through 2027
Table 56: Rest of World 7-Year Perspective for Smart Gas Meters
by Technology – Percentage Breakdown of Value Sales for
Advanced Meter Infrastructure (AMI) and Automatic Meter Reading
(AMR) for the Years 2020 & 2027
Table 57: Rest of World Current & Future Analysis for Smart Gas
Meters by End-Use – Residential, Commercial and Industrial –
Independent Analysis of Annual Sales in US$ Million for the
Years 2020 through 2027
Table 58: Rest of World 7-Year Perspective for Smart Gas Meters
by End-Use – Percentage Breakdown of Value Sales for
Residential, Commercial and Industrial for the Years 2020 &
2027
IV. COMPETITION
Total Companies Profiled: 75
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Artificial Intelligence
Aurionpro Solutions acquires Arya.ai, to power next generation Enterprise AI platforms for Financial Institutions
SINGAPORE, April 20, 2024 /PRNewswire/ — Aurionpro Solutions Limited (BSE: 532668) (NSE: AURIONPRO) announces the acquisition of Banking and Insurance focused PaaS startup, Arya.ai. With Arya.ai, Aurionpro will enhance its portfolio of enterprise fintech offerings to expedite adoption of AI that is responsible, accurate, and auditable.
Aurionpro Solutions Ltd. will acquire a majority stake (67%) in Arya.ai. This acquisition will bring products and expertise in Artificial Intelligence, Deep Learning, Intelligent Automation, PaaS, Autonomous AI Platforms, and more, to complement and strengthen Aurionpro’s industry leading portfolio.
The transaction comprises acquisition of shares held by the existing shareholders and subscription of new equity capital in the company. This will be an all-cash deal. The aggregate investment including secondary acquisition and fund infusion is approximately 16.5 MN USD.
By integrating Arya.ai’s cutting-edge AI cloud platform, with Aurionpro’s comprehensive suite of offerings, the company will create an industry leading Enterprise AI platform focused on creating value for financial institutions globally.
Commenting on the acquisition, Ashish Rai, CEO of Aurionpro Solutions, stated, “The acquisition of Arya.ai marries Aurionpro’s portfolio of industry leading enterprise software with one of the most mature Enterprise AI platforms focused on Banks and Insurers. We are incredibly excited about working with Arya.ai and our wider ecosystem partners to build out the leading Enterprise AI platform, for the financial industry worldwide.”
“Our decade long experience in building tools/platform for deep learning helped us to build a truly verticalized AI Operating System for Banking and Insurance.” Says Vinay Kumar CEO/Founder of Arya.ai. “Together with Aurionpro, we are going to build a new generation of Enterprise AI software for Banks and Insurers that truly embeds AI, augmenting a task or Autonomous Agents that can take over entire transactions”.
Founded in 2013 by Vinay Kumar and Deekshith Marla, Arya.ai has been one of the first ‘AI’ startups to use Deep Learning and deploy in enterprises. Arya.ai’s BFSI PaaS offerings include Arya API with 80+ ML models, Libra for fine-tuning SOTA ML models, and AryaXAI for AI governance.
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Artificial Intelligence
Free Your Hands, QIDI Vida Smart AR Glasses Lead the Way in New Sports Experience.
NEW YORK, April 19, 2024 /PRNewswire/ — Outdoor smart AR glasses, QIDI Vida, will officially launch on 23rd April on the Kickstarter platform. QIDI Vida integrates the many functions of smart watches, sports headphones, cycling computers, heart rate monitors, and walkie-talkies using AR+AI technology, allowing users to bid farewell to cumbersome device management and enjoy outdoor sports anytime, anywhere with just one pair of glasses.
Function:
QIDI Vida uses high-tech HUD (Head-Up Display) which is similar to the technology used for aircrafts and premium cars and introduces it to the sports industry. Users can activate the HUD function at any time using voice control, enabling them to focus on the route ahead whilst simultaneously having access to information such as navigation, speed, heart rate, power and cadence, among other metrics. Another great function of the QIDI Vida is that users can also enjoy audiovisual entertainment through the optically perceived 100-inch AR HUD screen, when having some down time.
As cyclists and hikers often travel in groups, QIDI Vida supports eSIM and team functionality, allowing real-time voice communication without releasing handlebars, and users can monitor their groups’ real-time locations. The glasses also have comprehensive sensing and monitoring capabilities including temperature, humidity, UV, air pressure, geomagnetism and acceleration. In addition to obtaining environmental and health information, it also features health warnings such as altitude sickness symptoms and high heart rate, as well as fall and collision detection functions. And, in the event of danger, it can send distress signals to teammates.
Perks:
QIDI Vida has a global voice recognition and interaction feature that allows you to control all functions within the device by voice. To better provide users with an immersive sports experience, QIDI Vida’s intelligent system will have the capability to instantly gather personalised sports data, enabling it to deliver timely voice alerts and broadcasts, including the duration of exercise, distance, the environment and the weather – all tailored to the user’s preferences.
QIDI Vida enables voice-controlled photos and video recordings, allowing users to capture moments whilst cycling or hiking without the need to stop. QIDI Vida supports connections with common cycling smart hardware such as Garmin, Wahoo, Apple, and Samsung, supports GPX route files, and is compatible with professional sports apps such as Strava, Keep, Zwift, Apple Health, and All Trails.
QIDI Vida stands out for its lightweight and comfortable design with a dual lens for a full-colour data display, unlike competing AR glasses that typically have a single lens and limited colour. This innovation significantly enhances and augments the user’s sports and reality experience.
QIDI Vida will launch on the Kickstarter platform: https://www.kickstarter.com/projects/109560964/qidi-vida-smart-ar-glasses-for-sports
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Artificial Intelligence
Risk Analytics Market worth $180.9 billion by 2029 – Exclusive Report by MarketsandMarkets™
CHICAGO, April 19, 2024 /PRNewswire/ — The growing use of real-time monitoring and advanced analytics, integration with cutting-edge technologies like blockchain and IoT, and an emphasis on cybersecurity, cross-industry applications, and regulatory compliance are the key factors that will shape the risk analytics market in the future. The market’s development will also be influenced by collaborative risk management, improved user experience, and an increasing focus on ESG factors and risk culture.
The Risk Analytics Market is estimated to grow from USD 59.7 billion in 2024 to USD 180.9 billion in 2029, at a CAGR of 24.8% during the forecast period, according to a new report by MarketsandMarkets™. Several trends fuel the global spread of Risk Analytics. Increasingly Increasing Data Complexity, Rising Cybersecurity Threats and Rising Adoption of Cloud-Based Solutions A growing talent pool of data scientists and engineers is building the necessary tools and infrastructure. Governments are recognizing the potential of risk analytics for economic growth and are investing in research and development. These trends make DI more accessible and valuable, leading to its global adoption.
Browse in-depth TOC on “Risk Analytics Market”260 – Tables 60 – Figures350 – Pages
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Scope of the Report
Report Metrics
Details
Market size available for years
2019–2023
Base year considered
2023
Forecast period
2024–2029
Forecast units
USD Billion
Segments Covered
Offering,Risk Type, Risk stages, Vertical, and Region.
Geographies covered
North America, Europe, Asia Pacific, Middle East & Africa, and Latin America
Companies covered
IBM (US), SAS Institute (US), Oracle (US), FIS(US), Moody’s Analytics (US), ProcessUnity(US), ServiceNow (US), Marsh (US), Aon (UK), MetricStream (US), Resolver (Canada), SAP (Germany), Milliman(US), LogicManager(US), Provenir(US), SAI360(US), Deloitte(UK), OneTrust(US), Diligent(US), Alteryx(US), CRISIL(India), Archer(US), ZestyAI(US), Fusion Risk Management(US), RiskVille(Ireland), SPIN Analytics(UK), Kyvos Insights(US), Imperva(US), Cirium(UK), Quantexa(UK), ClickUp(US), Sprinto(US), Ventiv(US), Adenza(US), Centrl.AI(Canada), SafetyCulture(Australia), Quantifi(US), CubeLogic(UK), Onspring(US), Riskoptics(US)
By offering the services segment to account for higher CAGR during the forecast period
In the Risk Analytics Market, the highest CAGR of services is fueled by Increasing Complexity of Risks, AI and machine learning advancements, big data analytics integration, business process optimization, cloud-based solutions adoption, data-driven culture, and diverse industry adoption. These trends reflect a global shift towards leveraging data for competitive advantage, driving a continuous need for sophisticated risk analytics services across sectors. As businesses prioritize agility, the growth of services in the Risk Analytics Market is driven by the need for effective risk management strategies in an increasingly complex and uncertain business environment.
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By Type, GRC software is expected to hold the largest market size for the year 2024
GRC software typically offers comprehensive solutions that cover a wide range of risk management needs, including compliance management, policy management, audit management, and risk assessment. They also provide organizations with enhanced visibility into their risk landscape. Through features such as risk assessment, risk monitoring, and reporting, organizations can identify and prioritize risks more effectively, enabling proactive risk management strategies. GRC software streamlines risk management processes through automation, reducing manual effort and increasing efficiency. Tasks such as risk assessments, control testing, and incident management can be automated, freeing up resources to focus on strategic risk mitigation efforts. the combination of comprehensive functionality, regulatory compliance support, efficiency gains, scalability, integration capabilities, and culture enhancement makes GRC software a preferred choice for many organizations seeking to manage risk effectively.
By Vertical, Healthcare & Life Sciences is projected to grow at the highest CAGR during the forecast period
The Healthcare and Lifesciences is experiencing a surge in the adoption of risk analytics due to a confluence of factors. Healthcare providers and life sciences companies wants to ensure the safety and well-being of patients. Risk analytics helps in identifying potential risks to patient safety, such as medication errors, adverse events, and medical device failures. The healthcare and life sciences industries are heavily regulated, with strict guidelines for patient care, data privacy, drug development, and clinical trials. Risk analytics helps organizations ensure compliance with these regulations by identifying and mitigating risks of non-compliance. Healthcare organizations and life sciences companies also face financial risks associated with fraud, billing errors, revenue cycle management, and reimbursement challenges. Risk analytics helps in detecting anomalies and optimizing financial processes to mitigate these risks.
Asia Pacific is expected to grow at the highest CAGR during the forecast period
The Asia-Pacific (APAC) region is experiencing rapid growth in the Risk Analytics Market, boasting the highest Compound Annual Growth Rate (CAGR). This surge is primarily attributed to rising demand for data-driven decision-making solutions, expanding digital transformation initiatives across industries.. Moreover, the region’s favorable regulatory environment, growing investments in big data analytics, and the integration of advanced technologies like the Internet of Things (IoT) further propel APAC’s dominance in Risk Analytics Market growth.
Top Key Companies in Risk Analytics Market:
The major risk analytics software and service providers include IBM (US), SAS Institute (US), Oracle (US), FIS(US), Moody’s Analytics (US), ProcessUnity(US), ServiceNow (US), Marsh (US), Aon (UK), MetricStream (US), Resolver (Canada), SAP (Germany), Milliman(US), LogicManager(US), Provenir(US), SAI360(US), Deloitte(UK), OneTrust(US), Diligent(US), Alteryx(US), CRISIL(India), Archer(US), ZestyAI(US), Fusion Risk Management(US), RiskVille(Ireland), SPIN Analytics(UK), Kyvos Insights(US), Imperva(US), Cirium(UK), Quantexa(UK), ClickUp(US), Sprinto(US), Ventiv(US), Adenza(US), Centrl.AI(Canada), SafetyCulture(Australia), Quantifi(US), CubeLogic(UK), Onspring(US), Riskoptics(US). These companies have used both organic and inorganic growth strategies such as product launches, acquisitions, and partnerships to strengthen their position in the Risk Analytics Market.
Recent Developments:
In March 2024, Orcale announced Oracle Risk Management Cloud in Release 24B. It offers comprehensive solution designed to help organizations identify, assess, and mitigate risks across their business operations. It offers advanced analytics, automation, and collaboration tools to streamline risk management.In March 2024, FIS Global announces card fraud detection capabilities leveraging artificial intelligence (AI) with aim to bolster FIS’s ability to identify and prevent fraudulent transactions, providing greater security for cardholders and financial institutions alike.In March 2024, Aon acquired an AI-powered platform to assist fleet and mobility clients in making data-driven decisions, enhancing operational efficiency and risk management. The platform utilizes artificial intelligence to analyze data and provide insights, enabling clients to optimize their fleet operations and improve decision-making processes.In March 2024, Crisp joined Resolver, with the aim to enhance Resolver’s risk intelligence capabilities by integrating Crisp’s expertise and technology into its platform, offering clients improved risk assessment and mitigation tools.In February 2024, SAS partnered with Carahsoft to bring analytics, AI, and data management solutions to the public sector. The aim is to leverage SAS’s expertise in advanced analytics and Carahsoft’s extensive government market reach to offer tailored solutions that enable public sector organizations to harness the power of data for informed decision-making and improved outcomes.Inquire Before Buying@ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=210662258
Risk Analytics Market Advantages:
By offering insights into potential risks, opportunities, and trends, risk analytics helps organisations make data-driven decisions that improve strategic planning and resource allocation.In order to improve risk management procedures and lessen exposure to possible threats, risk analytics solutions assist businesses in identifying, evaluating, and mitigating risks across a range of business activities, including finance, operations, and compliance.Through real-time monitoring and anomaly detection made possible by risk analytics, organisations may proactively address shifting market situations, legal requirements, and cybersecurity threats.Risk analytics solutions assist organisations lower operating costs, increase productivity, and streamline compliance activities, which results in cost savings and resource optimisation. They do this by streamlining risk management procedures and automating routine work.Accurate risk assessments, audit trails, and reporting capabilities are just a few of the ways that risk analytics solutions help organisations comply with regulations and stay out of trouble.Organisations can enhance their resilience and competitiveness by anticipating and mitigating potential hazards before they materialise through the use of predictive modelling and advanced analytics approaches in risk analytics.Report Objectives
To define, describe, and predict the Risk Analytics Market by offering, risk type, risk stages, vertical, and regionTo provide detailed information about the major factors (drivers, restraints, opportunities, and challenges) influencing the market growthTo analyze the opportunities in the market and provide details of the competitive landscape for stakeholders and market leadersTo forecast the market size of segments with respect to five main regions: North America, Europe, Asia Pacific, Middle East & Africa, and Latin AmericaTo profile the key players and comprehensively analyze their market rankings and core competenciesTo analyze the competitive developments, such as partnerships, product launches, and mergers & acquisitions, in the Risk Analytics MarketBrowse Adjacent Markets: Analytics Market Research Reports & Consulting
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