Artificial Intelligence
Smart Building Market Size to Hit US$ 127.09 Bn by 2027
OTTAWA, Sept. 23, 2020 (GLOBE NEWSWIRE) — Precedence Research, Recently Published Report on titled “Smart Building Market (By Component: Solution and Services; By Application: Commercial and Residential) – Global Market Size, Trends Analysis, Segment Forecasts, Regional Outlook 2020 – 2027”.
The global smart building market size was valued US$ 49.28 billion in 2019.
Smart building applies sensors, microchips, and actuators to control and regulate air-conditioning, ventilation, lighting, heating, and other systems. It leverages integrated and advanced building technologies that include advanced telecommunications systems, building automation, facility management system, and fire safety equipment to improve comfort, safety, productivity of occupants. It can automatically manage the building systems as per the environmental condition, pre-set & variable schedules, and emergency events.Energy efficiency stays at the front of IoT Smart Building trends.
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Growth Factors
Several laws and regulations imposed by the government of different countries have encouraged the smart usage of the buildings without compromising their safety and sustainability. The European Commission has submitted its nearly zero-energy buildings national plans, under which it describes its intention to increase the NZEBs by 2020. Furthermore, the UK government has also issued a directive under which it had planned to reduce the energy consumption in government building by 20%.This initiative was mainly focused towards reducing the carbon footprint along with energy consumption in building sector. Similarly, Asian countries and other regions government are take strong initiative for transforming traditional buildings into green building. For instance, Singapore has started zero energy building that is running entirely on solar power.
Regional Snapshots
North America dominated the global smart building market in 2019 and projected to augment the market in the coming years. The prime factor attributed for its growth is technological advancement in the region along with government initiatives supporting smart and sustainable buildings & infrastructure. In addition, rising investment for the smart infrastructure in the region is another important factor accelerating the growth of the region. In March 2019, InnerSpace, an IoT-based smart building solution platform, announced that BDC Capital’s Women in Technology had funded USD 3.2 Mn in the company.
Asia Pacific projected as the most opportunistic region during the forecast period. The prime factor attributed to this is proliferating penetration of smart devices and advanced technologies in the region such as IoT, big data, and other new technologies. In 2019, the Asia Pacific expected to be the global leader in IoT spending with around 36% of the total spending across the globe. This in turn will exhibit the smart building market growth in the region.
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Data Center Cooling Market – The global market was valued at US$ 9.79 billion in 2019 and expected to reach US$ 27.53 billion by 2027, with at a compound annual growth rate (CAGR) of 13.8% during the forecast period 2020 to 2027.
Smart Manufacturing Market – The global market was valued at USD 199.18 Billion in 2019 and expected to reach USD 489.66 Billion by 2027, with at a compound annual growth rate (CAGR) of 11.9% during the forecast period 2020 to 2027.
Contactless Payment Market – The global market value is expected to surpass over USD 4.60 trillion by 2027 and predicted to register a compound annual growth rate (CAGR) of around 20.01% during period 2020 to 2027.
Key Players & Strategies
The global smart buildingmarket is highly competitive owing to development and investment by established market players. In March 2019, Advantech Co. Ltd announced to introduce two new routers for smart building solution that are LTE Cat-M1 router and ICR-3211B. These routers are significantly applicable for energy management, building automation, and remote SCADA application. Besides this, market players are also engaged in merger and collaboration to develop next level smart building solutions. For instance, in March 2017, Huawei, a chinese technology provider announced its collaboration with Honeywell for developing smart building solutions using IoT that makes building more secure, sustainable, and energy efficient.
Some of the key players of the market are Siemens AG, Schneider Electric, ABB Ltd., Cisco Systems Ltd., IBM Corp., United Technologies, Delta Controls, Building IQ, Johnson Controls, Honeywell International Inc., Legrand, Hitachi Ltd., Thales Group, Accenture, and Emerson Electric Company among others.
Report Highlights
- North America led the global smart building market in 2019 owing to emergence of smart building offering using advanced technologies such as big data, IoT, data analytics, cloud computing, artificial intelligence, and deep learning. Moreover, the U.S. and Canadian governments are significantly investing in smart building solutions to enhance energy efficiency and deliver smarter, sustainable, and safer buildings.
- Asia Pacific exhibits the fastest growth during the forecast period owing to rapid penetration IoT-enabled smart devices in the region. In addition, rising public awareness towards energy conservation laws and smart and reliable solutions for buildings and infrastructures are driving the market growth.
- Solutions segment led the global smart building market with remarkable revenue share in 2019. Rising popularity for smart building infrastructure management solutions are uplifting the segment growth. For instance, demand for smart and automated elevators and escalators have conquered nearly 60% of the revenue share in building infrastructure management segment.
- By application, commercial building held the major revenue share in the global smart building market in 2019 owing to initiatives taken by real estate sector and builder to modernize the commercial spaces to enhance public experience. On the contrary, residential sector expected to exhibit the fastest growth over the forecast period. The prime factor attributed to this is augmented awareness for energy conservation among public along with aesthetic and smart featured solutions trending in the market.
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Artificial Intelligence
Global Insurance Provider Selects 3CLogic to Streamline AI and Contact Center Capabilities with ServiceNow
Multinational Insurance Broker to deploy 3CLogic’s solution with ServiceNow’s Financial Service Operations (FSO) platform to streamline customer experiences.
ROCKVILLE, Md., April 25, 2024 /PRNewswire/ — 3CLogic, the leading Conversational AI and Contact Center solution for ServiceNow®, today announced its selection by a global insurance provider to replace its existing contact center infrastructure as part of a larger CX transformation effort. The strategic decision is designed to complement the organization’s use of ServiviceNow’s Financial Services Operations (FSO) offering leveraged across a number of its existing product lines including Customer Warranty Claims, Roadside Assistance, and Home Warranties.
Serving millions of customers worldwide with innovative insurance and protective products, the organization required a solution that would enhance its recent investment in the ServiceNow platform as it works to transform its end-to-end customer service operations. The deployment will incorporate several of 3CLogic’s AI-powered capabilities purpose-built for ServiceNow, including Conversational AI, Speech Analytics, and AI Performance & Coaching, along with integrated call transcriptions, convenient 2-way SMS, and ServiceNow-centralized contact center reporting.
“We continue to see enterprises eager to complement their existing investment in digital platforms, such as ServiceNow, with contact center features purpose-built to extend the workflows and features they already have and use,” explains Matt Durkin, VP of Global Sales at 3CLogic. “It’s no secret that organizations are already juggling too many systems, often with overlapping capabilities, which impacts ROI and operational efficiency. We’re proud to offer an alternative approach that helps simplify the technology stack while optimizing the overall operational costs and outcomes.”
Recently named to Constellation Research’s 2024 Shortlist for Digital Customer Service and Support, 3CLogic has seen global adoption of its solution by leading enterprises in healthcare, manufacturing, travel, retail, higher education, finance, non-profits, and Managed Service Providers across five continents. As a ServiceNow-certified Technology and Build partner with offerings available for ServiceNow’s IT Service Management, Customer Workflows, HR Service Delivery, and Source-to-Pay solutions, the company will be unveiling its latest set of capabilities at ServiceNow’s annual Knowledge 2024 event this May in Las Vegas.
For more information, please contact [email protected].
About 3CLogic3CLogic transforms customer and employee experiences with its leading Cloud Contact Center and AI solutions purpose-built to enhance today’s leading CRM and Customer Service Management platforms. Globally available and leveraged by the world’s leading brands, its offerings empower enterprise organizations with innovative features such as intelligent self-service, generative and Conversational AI, agent automation & coaching, and AI-powered sentiment analytics – all designed to lower operational costs, maximize ROI, and optimize each interaction across IT Service Desks, Customer Support, Sales or HR Services teams. For more information, please visit www.3clogic.com.
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Artificial Intelligence
ScreenPoint Medical Leadership Transition: Pieter Kroese Confirmed as CEO
Leading Breast AI Company, creator of industry-leading Transpara®, promotes from within for new CEO
NIJMEGEN, Netherlands, April 25, 2024 /PRNewswire/ — ScreenPoint Medical, today announced a significant transition in its leadership as Mark Koeniguer, the current CEO, steps down from his position. Mark served as CEO since 2022 and was instrumental in ScreenPoint’s commercial growth and success over the past 2 years.
The company’s Board of Directors has appointed Pieter Kroese as the new Chief Executive Officer effective April 25, 2024. Pieter takes the role after serving as COO of ScreenPoint for over five years. During that time, he has managed the transition of the company from an early startup to a thriving enterprise with hundreds of customers using ScreenPoint’s flagship Transpara software to support millions of scans a year.
“I am thrilled to lead ScreenPoint into its next phase of growth and innovation,” said Mr. Kroese. “I am deeply committed to building upon the strong foundation we have and continuing to work closely with our talented team to drive continued success. We are already expanding screening capacity and capability through proven reader support – we look forward to increasing our ability to support providers and women moving forward.”
Sir Michael Brady, Chairman of the Board at ScreenPoint Medical and a co-founder of the company, expressed enthusiasm about Pieter’s appointment, stating, “Pieter’s remarkable leadership qualities, coupled with his depth of knowledge of our product and industry, make him the perfect choice to lead ScreenPoint into the future. His strategic mindset and commitment to excellence align perfectly with our company mission of early breast cancer detection. Pieter has been an integral part of our growth to date and will provide seamless leadership through this transition into our next chapter for our customers, partners, and team.”
Author of “No Longer Radical” and over a hundred peer-reviewed publications on breast imaging, Dr. Rachel Brem is a Transpara user and ScreenPoint Board Member. Dr. Brem welcomed Mr. Kroese with the following: “Pieter has been an integral part of the ScreenPoint team for years. I am confident that his leadership will continue to deliver product excellence: earlier detection with outstanding reading workflow and improved patient outcomes. We continue to see these results from clinical sites all over the world, including many here in the United States. No other Breast AI solution has demonstrated the same results as Transpara, and I am confident that the team will continue to push on these frontiers under Pieter’s leadership.”
The entire team at ScreenPoint extends its gratitude to Mark Koeniguer and wishes him every success in the future, while warmly welcoming Pieter Kroese into his new role as CEO.
About ScreenPoint Medical
ScreenPoint Medical translates cutting edge machine learning research into technology accessible by radiologists to improve screening workflow, decision confidence and breast cancer risk assessment. Transpara is trusted by radiologists globally because it has been developed by experts in machine learning and image analysis and updated with user feedback from world-renowned breast imagers.
See all the proof at: https://screenpoint-medical.com/evidence.
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Artificial Intelligence
Robotics Market to Surpass USD 126.96 Billion by 2031 | SkyQuest Technology
WESTFORD, Mass., April 25, 2024 /PRNewswire/ — The growing need for automation, technological developments, and long-term cost reductions are driving a robust expansion in the worldwide robotics market. SkyQuest projects that Global Robotics Market size is poised to grow from USD 41.50 Billion in 2023 to USD 126.96 Billion by 2031, at a CAGR of 15% during the forecast period (2024-2031).
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https://www.skyquestt.com/report/robotics-market
Browse in-depth TOC on the “Robotics Market”
Pages – 202Tables – 64Figures – 75Robotics Market Overview:
Report Coverage
Details
Market Revenue in 2023
$41.50 billion
Estimated Value by 2031
$126.96 billion
Growth Rate
Poised to grow at a CAGR of 15%
Forecast Period
2024–2031
Forecast Units
Value (USD Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
Application, End Users, and Region
Geographies Covered
North America, Europe, Asia Pacific, and the Rest of the world
Report Highlights
Collaborative Robotics
Key Market Opportunities
Prompting Several Industries to Adopt Automation Technologies
Key Market Drivers
Increasing Demand for Automation
Surge of Automation is Supporting Growth of Robotics Industry
The industrial sector is generating high revenues for the global robotics market owing to extensive automation in manufacturing, which increases productivity and lowers overall production costs. Assembly line, painting, and welding robots have become essential, thereby propelling substantial market expansion in the automotive, electronics, and heavy duty sectors. Due to the increased usage of robots for non-manufacturing functions such as customer service, shipping, and healthcare, the services sector is expanding quickly. This rapid growth is being driven by technological improvements and the push for automation in services.
Surge in Advance Robotics is Bolstering Market Growth
The use of robotics in manufacturing processes is growing, and innovation in this field is happening quickly worldwide. By increasing productivity, efficiency, and precision, advanced robotics technologies—such as AI-driven automation systems and collaborative robots, or cobots—are transforming the manufacturing sector. The dominance of manufacturing in the worldwide robotics market is fuelled by the integration of robotics into manufacturing facilities, which helps businesses remain competitive in today’s dynamic market scenario.
Rising Interest in Service Robotics is Driving Demand for Robotics in Asia Pacific
Due to the strong demand for industrial and service robots in the region, Asia Pacific now leads the global robotics industry. China, Japan, and South Korea are among the nations that have made significant investments in the robotics sector recently. The Middle East and Africa are anticipated to register the fastest-growing rate for the global robotics market. The expansion is ascribed to the region’s growing adoption of automation technology, especially in the manufacturing and logistics industries.
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Drivers:
Increasing Demand for AutomationAdvancements in AI and Machine Learning TechnologiesRestraints:
High Initial InvestmentsLack of Skilled WorkforceProminent Players in Global Robotics Market:
FANUC America Corporation (US)Epson Robotics (Japan)Staubli International AG (Switzerland)YRG Inc. (US)Comau S.p.A. (Italy)Northrop Grumman Corporation (US)Honda Motor Co., Ltd. (Japan)Seiko Epson Corporation (Japan)Yamaha Motor Co., Ltd. (Japan)Adept Technology, Inc. (US)View report summary and Table of Contents (TOC):
https://www.skyquestt.com/report/robotics-market
Key Questions Answered in Global Robotics Market Report
How big is the global robotics market, and what compound annual growth rate (CAGR) is it anticipated to deliver between 2024 and 2031?Which industries are fuelling the need for automation and fostering the expansion of the robotics sector?What impact have recent technological advancements and innovations had on the direction of the robotics market?Which well-known companies in the robotics industry are also major players in the global robotics market?This report provides the following insights:
Analysis of key drivers (increasing demand for automation across industries, improved the overall efficiency, productivity of the processes, demand for automation), restraints (high initial investments, difficult for small and medium-sized enterprises to invest, robots, sensors, and other equipment required not delivered), opportunities (advancements in AI and machine learning technologies, new opportunities for the robotics market, perform complex tasks with high accuracy), and challenges (lack of skilled workforce, maintenance of these robotics systems) influencing the growth of robotics marketMarket Penetration: Comprehensive information on the product portfolios offered by the top players in the robotics marketProduct Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the robotics marketMarket Development: Comprehensive information on lucrative emerging regionsMarket Diversification: Exhaustive information about new products, growing geographies, and recent developments in the marketCompetitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.Related Reports:
Global Service Robotics Market
Global Soft Robotics Market
Global Warehouse Robotics Market
Global Cloud Robotics Market
Global Robotic Welding Market
About Us:
SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach across North America, Europe, ASEAN and Asia Pacific.
Contact:Mr. Jagraj SinghSkyquest Technology1 Apache Way,Westford,Massachusetts 01886USA (+1) 351-333-4748Email: [email protected] Our Website: https://www.skyquestt.com/
View original content:https://www.prnewswire.co.uk/news-releases/robotics-market-to-surpass-usd-126-96-billion-by-2031–skyquest-technology-302127230.html
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