Artificial Intelligence
Global Infrared Thermometers Market Report 2020: The Most Demanded Medical Product During the COVID-19 Pandemic – Market Projected to Rise to $1.4 Billion by 2027
Dublin, Oct. 01, 2020 (GLOBE NEWSWIRE) — The “Infrared Thermometers – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.
As the most demanded medical product during the COVID-19 pandemic, Infrared Thermometers are projected to reach a global market size of US$1.4 billion by 2027.
This simple medical instrument available over- the-counter (OTC) is witnessing a sudden surge in demand as temperature screening and monitoring becomes more popular, prominent and even mandatory in countries worldwide. With fever being a telltale symptom of COVID-19, the beginning of the pandemic witnessed all airport authorities worldwide deploy infrared thermometer guns to screen for sick passengers. With the pandemic spreading and with most countries experiencing community spread, the practice of fever detection has become more widespread.
Currently, supermarkets, shopping malls, offices and all other public spaces have begun scanning customer temperatures to identify and isolate COVID-19 patients. Use of thermometers among public health officials has also skyrocketed with governments imposing mandatory screening, contact tracing and strict quarantine for people with COVID-19 symptoms.
Even consumers are stepping up their spending on medical essentials such as hand sanitizers, medical masks, gloves, vitamin supplements and thermometers. OTC purchases of thermometers have therefore spiked significantly since the start of the pandemic. Especially benefiting are infrared thermometers given their non-contact use which is valuable given the highly transmissible nature of COVID-19 via infected surfaces and physical contact. Until a vaccine is ready, temperature monitoring will be the new norm and will become as commonplace as security checks after the 9/11 attacks.
An infrared thermometer, being easy to use and accurate, is utilized for measuring temperature without physical contact and could be easily and correctly calibrated without much effort. Infrared thermometers offer more accurate and reliable results in comparison to conventional thermometers. An infrared thermometer deduces temperature from a part of thermal radiation, also referred as black-body radiation, that the object required to be measured emits. An infrared thermometer is occasionally also referred as temperature gun or non-contact thermometer due to its ability of measuring temperature through a distance; while at times the thermometer is referred as laser thermometer since a laser is utilized for aiming the thermometer.
In the post COVID-19 period innovation will emerge to spur new growth opportunities. A noteworthy innovation already brought to the market is a next-generation, smart infrared thermometer developed in Taiwan integrated with artificial intelligence (AI) to reduce erroneous readings. The AI feature enables the device to measure temperatures by detecting people’s faces. This reduces errors owing to interference from radiation emitted by objects held in an individual’s hand being screened.
Another notable innovation is the launch of non-contact forehead infrared thermometer developed by DeltaTrak. The new solution is expected to play a vital role in tackling the challenges arising from the spread of corona virus. The FDA approved device provides instant temperature readings without making any physical contact with the individual being screened. The innovative COVID-19 risk prevention solution is primarily designed to reduce cross contamination and improve safety while conducting daily preventive protection processes in large workforce environments.
Competitors identified in this market include, among others:
- BPL Medical Technologies Pvt., Ltd.
- Braun GmbH
- Cardinal Health, Inc.
- Contec Medical Systems Co., Ltd.
- Dr. Madre
- Exergen Corporation
- Geratherm Medical AG
- Innovo Medical
- Kent Scientific Corporation
- Mediaid, Inc.
- Microlife Corporation
- Omron Corporation
- Paul Hartmann AG
- Pyle Audio, Inc.
- Thermomedics, Inc.
- Vive Health
- Welch Allyn, Inc.
Key Topics Covered:
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- A Prelude to Infrared Thermometers
- COVID-19 Infection spreads like Wild Fire Globally, Infrared Thermometers Play an Indispensible Role in Identifying Infected Patients
- Total Number of COVID-19 Cases and Deaths Worldwide
- Total Global COVID-19 Cases Distribution (in Percentage) by Country
- COVID-19 Cases Worldwide: Total Cases, Deaths, Cases Per Million Population and Deaths Per Million Population for Top Nations (As of 23rd April 2020)
- Body Temperature – An Important Indicator of Health and Well-Being
- Non-Contact Thermometers Score High During Pandemics
- As the World Economy Struggles under Covid-19 Impact, Infrared Thermometer Sales Rises High
- US and Europe Dominate, Asia-Pacific to Witness the Fastest Growth
- Leading US Employers Deploying Infrared Thermometers for COVID-19 Detection
- Competitive Scenario
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Rise in Number of Infectious Diseases to Drive the Market for Infrared Thermometers
- Global Number Of Deaths Caused Due To Communicable Diseases (In 000s)
- Innovations in Infrared Thermometers to Propel Market Growth
- Select Launches of Infrared Thermometers
- DeltaTrak Introduces Non-Contact Forehead Infrared Thermometer (2020)
- Advanced Technology-embedded Compact Infrared Thermometer
- Self-Care Management Evokes Sales Opportunities
- COVID-19 Results in Notable Shortage of Thermometer Stocks
- Employers’ Focus on Temperature Screening at Workplaces to Boost Infrared Thermometers Demand
- Regulatory Guidance on Temperature Screening at Workplaces
- Amazon to Start Temperature Screening of Warehouse Workers amidst Growing Unrest about COVID-19 Exposure
- Parks & Attractions Brace Temperature Screening for Guests amidst COVID-19 Pandemic
- Exponential Increase in Urban Population to Drive Market Expansion
- Total Population Worldwide by Urban and Rural Population in Thousands: 1950-2050P
- Aging Population: A Potential Growth Driver
- Global Aging Population Statistics for the 65+ Age Group in Million by Geographic Region for the Years 2019, 2025, 2035 and 2050
- Increasing Healthcare Expenditure to Foster Market Growth
- World Healthcare Expenditure (In US$ Billion) for the Years 2017-2023
- Per Capita Healthcare Expenditure (in $) by Select Countries for 2018
- Increasing Pediatric Population Offers Growth Opportunities for Manufacturers
- Global New Births (in Millions) per Annum by Geographic Region
- Global Population of Children Between 0-4 years (2015 & 2020P)
- Accuracy Concerns of Infrared Thermometers
- Coronavirus Outbreak Highlights Need to Redesign Temperature Guns
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
GEOGRAPHIC MARKET ANALYSIS
UNITED STATES
- Impact of Covid-19 on the US Infrared Thermometers Market
- Total Number of COVID-19 Cases and Deaths in the US
- Leading US Employers Deploying Infrared Thermometers for COVID-19 Detection
- Market Analytics
CANADA
JAPAN
CHINA
- Impact of Covid-19 on the Chinese Infrared Thermometers Market
- Total Number of COVID-19 Cases and Deaths in China
- Market Analytics
EUROPE
FRANCE
- Total Number of COVID-19 Cases and Deaths in France
- Market Analytics
GERMANY
- Total Number of COVID-19 Cases and Deaths in Germany
- Market Analytics
ITALY
- Total Number of COVID-19 Cases and Deaths in Italy
- Market Analytics
UNITED KINGDOM
- Total Number of COVID-19 Cases and Deaths in the UK
- Market Analytics
SPAIN
- Total Number of COVID-19 Cases and Deaths in Spain
- Market Analytics
RUSSIA
REST OF EUROPE
ASIA-PACIFIC
AUSTRALIA
INDIA
SOUTH KOREA
REST OF ASIA-PACIFIC
LATIN AMERICA
ARGENTINA
BRAZIL
MEXICO
REST OF LATIN AMERICA
MIDDLE EAST
IRAN
ISRAEL
SAUDI ARABIA
UNITED ARAB EMIRATES
REST OF MIDDLE EAST
AFRICA
IV. COMPETITION
- Total Companies Profiled: 41
For more information about this report visit https://www.researchandmarkets.com/r/fd3lxt
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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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