Artificial Intelligence
Global Identity Verification Market By Component, By Type, By Enterprise Size, By Deployment Type, By End User, By Region, Industry Analysis and Forecast, 2020 – 2026
New York, Feb. 08, 2021 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Global Identity Verification Market By Component, By Type, By Enterprise Size, By Deployment Type, By End User, By Region, Industry Analysis and Forecast, 2020 – 2026” – https://www.reportlinker.com/p06021501/?utm_source=GNW
The security solutions are comprised of real-time physical documents including voice recognition devices, artificial intelligence biometrics, and several others. The use of this system reduces unauthorized and hostile access requests. It usually finds its application in the defense, IT security operation centers, and military sectors.
The major factors driving the identity verification market include growing digitization initiatives, identity theft, an increase in fraudulent activities from the past decade, and an increase in the use of digital identities among verticals. Furthermore, governments and enterprises have also taken many initiatives to focus on digitalization and adoption of new technologies, like ML, AI, and automation in identity verification solutions and this will provide lucrative opportunities for vendors of identity verification.
By Component
Based on Component, the market is segmented into Solutions and Services. Solution segment dominated the market in 2019. The services segment would showcase significant growth opportunities during the forecast period.
By Type
Based on Type, the market is segmented into Non- Biometrics and Biometrics. The non-biometrics solutions are mainly used for fraudulent ID detection, remote customer onboarding, KYC/AML compliance, and also in business process automation. The integration and introduction of AI and ML technologies in identity verification solutions in turn help organizations to remain proactive and make very effective detection and remediation in response to suspicious activities and invasive and unauthorized access requests on an enterprise network.
By Enterprise Size
Based on Enterprise Size, the market is segmented into Large Enterprise and Small & Medium Enterprise. For SMEs, identity verification software is a simple, low cost, hassle-free, intuitive, and secure solution in order to meet their increasing needs. SMEs are very prone to cyber fraud owing to the availability of IT personnel, limited resources, and budget restraints; and are focused to adopt identity verification software in order to save their time, money, resources, and assets. The cloud deployment mode offers a realistic solution for the implementation of technology.
By Deployment Type
Based on Deployment Type, the market is segmented into On-premises and Cloud. cloud deployment is expected to grow at a higher CAGR in the coming years. Cloud-based identity verification solutions enable organizations to accomplish their costs as well as helps them in improving business alertness.
By End User
Based on End User, the market is segmented into BFSI, Energy & Utilities, Healthcare, Retail & eCommerce, Government & Defense, IT & Telecommunication and Others. BFSI vertical has the largest market size during the foreseeable period. The augmented digitization of banking processes including digital onboarding and digital payments intended toward improving the experience of the customer are also boosting the necessity for identity verification all across the globe.
By Region
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. The Asia Pacific is anticipated to contribute to the fastest-growing region during the foreseeable period as this region is getting technologically furnished with the prompt adoption of novel technologies. Factors including initiatives are taken by the government for tackling identity-related frauds, particularly for strengthening eKYC in order to verify identities, like compliance regulations initiated by countries, growing demand for cloud-based identity verification and increase in identity-related cyber-attacks are boosting the revenue growth in this region.
The major strategies followed by the market participants are Product Launches and Partnerships. Based on the Analysis presented in the Cardinal matrix; Experian PLC, Thales Group S.A., and RELX PLX are the forerunners in the Identity Verification Market. Companies such as GB Group PLC, Mitek Systems, Inc., and Equifax, Inc., Acuant, Inc., Onfido Limited, TransUnion LLC, Trulioo, Inc. are some of the key innovators in the market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Experian PLC, GB Group PLC, Equifax, Inc., Mitek Systems, Inc., Thales Group S.A., RELX PLC (LexisNexis Risk Solutions, Inc.), Onfido Limited, Trulioo, Inc., Acuant, Inc. and TransUnion LLC.
Recent strategies deployed in Identity Verification Market
Partnerships, Collaborations, and Agreements:
Dec-2020: GBG partnered with NAGA. The partnership aimed to safely and securely verify client identities for its online trading and investment platform. GBG’s IDscan and ID3global solutions empowered NAGA to verify applicants’ identities remotely within minutes that reduce the need for a lengthy manual verification process.
Dec-2020: Onfido collaborated with Salesforce AppExchange, a leading enterprise cloud marketplace. The collaboration aimed to launch a new version of Onfido’s identity verification and authentication service on Salesforce AppExchange.
Dec-2020: Trulioo entered into a partnership with Credit Sesame, a Digital banking service provider. This partnership allowed Credit Sesame to improve privacy for its customers through Trulioo’s GlobalGateway biometric identification platform.
Dec-2020: Trulioo signed a partnership agreement with True Medical, a UK-based digital healthcare provider. This partnership aimed to offer patients’ easily accessible quality healthcare integrated with outstanding customer service and ongoing support, to provide real-time identity verification during customer onboarding as well as meet regulatory requirements in the UK.
Nov-2020: Experian came into partnership with Unemployment Insurance (UI) Integrity Center. Under this partnership, Experian provided its identity and fraud verification to the Unemployment Insurance (UI) Integrity Center’s centralized Identity Verification (IDV) capability. This capability is available to state agencies at zero cost through UI Integrity Center, operated by the National Association of State Workforce Agencies (NASWA) partnered with and funded by the U.S. Department of Labor.
Nov-2020: LexisNexis Risk Solutions partnered with Nuggets, e-commerce payments, and ID platform. This partnership aimed to allow the implementation of self-sovereign digital identity (SSI) solutions and helped to validate the advantages and strengths of the self-sovereign identity model.
Nov-2020: Onfido entered into a partnership with Banco Sabadell, a Spanish multinational financial services company. The partnership focused on integrating artificial intelligence technology for remote customer identification and onboarding.
Oct-2020: Onfido signed a partnership agreement with Deliveroo, a leading online food delivery company. The partnership expanded the roll-out of Onfido’s AI-powered identity verification technology to support the food delivery giant’s global expansion. It also made it easier and quicker for Deliveroo riders to onboard securely.
Aug-2020: Thales came into partnership with Thirdstream, Canada’s leading provider of onboarding software. In this partnership, Thirdstream delivers the Thales IdCloud KYC and AML solutions, serving over forty Canadian credit unions, banks, and trust companies. Thirdstream’s partnership with Thales combines its world-renowned digital identity verification services.
Aug-2020: Acuant collaborated with iProov, the leading provider of biometric authentication technology. This collaboration integrated iProov into Acuant’s platform to provide robust online face authentication services that provide identity verification services to all industries.
Aug-2020: Acuant collaborated with Bluebird Auto Rental Systems. Under this collaboration, Bluebird gets access to Acuant’s leading identity verification solutions to prevent fraud and manage risk, car rental locations able to deliver a superior customer experience securely.
Jul-2020: Experian signed a partnership agreement with Global Data Consortium (GDC), a Data as a Service (DaaS) company. This partnership allowed Experian’s clients to onboard customers rapidly and strengthened anti-fraud measures and fulfilling Know Your Customer (KYC) and Anti Money Laundering (AML) compliance requirements.
Jul-2020: Thales collaborated with Nedap, a Dutch multinational technology company. Under this agreement, Thales’s Facial Recognition Platform (FRP) integrated with Nedap physical access control platform (AEOS) to facilitate the widespread uptake of biometric authentication. Thales FRP interfaces with Nedap’s access control panel to offer face matching results upon each authentication request, along with the back-end to synchronize the list of authorized people.
Jul-2020: Onfido partnered with Neeyamo, a leading platform-based global HRO service provider. In this partnership, Neeyamo remotely verifies a candidate’s identities with substantially reduced turnaround time and frictionless user experience with the help of Onfido’s identity verification and authentication technology.
Jun-2020: Onfido came into partnership with Scrive, an eSignature and document management company. The partnership aimed to provide customers virtually global coverage for performing secure online identity checks.
May-2020: Equifax partnered with HooYu, a global customer onboarding platform. Under this partnership, HooYu provides a seamless extension to the existing Equifax database identity check Solutions. Equifax deployed the HooYu user interface (UI) and user experience (UX) tools in their website or app to help guide customers through the process.
Apr-2020: Acuant came into collaboration with Trustopia, the All-in-One Intelligent People Screening Platform. This collaboration aimed to offer seamless onboarding and authentication in its people screening ecosystem. With Acuant, Trustopia customers can quickly and accurately verify identities on any channel.
Feb-2020: Onfido formed a partnership with Mode, the UK’s new mobile banking app. This partnership helped to empower Mode’s mobile application to seamlessly verify and connect the UK and European citizens to a thriving Bitcoin market, by using Onfido’s technology.
Acquisition and Mergers:
Nov-2020: Experian took over Tapad, a leading provider in digital identity resolution for marketers. The acquisition improved Experian’s digital offerings for advertisers, publishers, and agencies, and particularly for Advanced Television, which placed Experian to take advantage of the expansion in the market for digital-data advertising.
May-2020: TransUnion acquired Iovation, one of the most advanced providers of device-based information. The acquisition created an unmatched network of offline and online identities that helped make transactions faster and more secure while providing a frictionless experience for consumers.
Mar-2020: Acuant completed the acquisition of IdentityMind, the creator of Trusted Digital Identities. Under this acquisition, Acuant integrated its Trusted Identity Platform for identity proofing and verification with IdentityMind’s Digital Identity Platform for identity creation, risk scoring, transaction monitoring, and regulatory compliance (KYC and AML). This integration created a best-in-class Identity Platform for building, proofing, verifying, and maintaining digital identities.
Feb-2020: LexisNexis Risk Solutions took over ID Analytics, the San Diego-based provider of fraud and credit risk solutions. This acquisition helped LexisNexis to expand its innovation and expertise in verifying and authenticating consumer identities.
Apr-2019: Thales acquired Gemalto, an international digital security company. This acquisition helped Thales to create a giant in digital identity and security with the capabilities to compete in the big leagues worldwide.
Feb-2019: GBG acquired IDology, a US-based provider of identity verification and fraud prevention services. This acquisition strengthened GBG’s broader portfolio and improved the business’ product capability and customer reach.
Oct-2018: GBG took over the VIX Verify Global (VVG), an Australian provider of identity verification and location intelligence software. This acquisition brought additional scale to GBG’s identity verification and location intelligence solutions in Australia and New Zealand, two markets where GBG offered fraud detection solutions to customers.
Jul-2018: Equifax took over DataX, a leading specialty finance credit reporting agency. This acquisition helped Equifax to provide lenders to expand credit access and widen the financial inclusion for more consumers, specifically in underbanked populations.
May-2018: Mitek took over A2iA, SAS, a global leader in artificial intelligence (AI), and image analysis. The acquisition aimed to unite two market leaders in image recognition and processing, to make a powerful force with deep expertise in image analytics.
Product Launches and Product Expansions:
Nov-2020: LexisNexis launched LexisNexis Fraud Intelligence, the newest addition to the company’s suite of fraud and identity products. This tool helps organizations mitigate new account fraud risk by combining identity events and consumer application activity to arrive at a comprehensive, powerful score that provides a complete view of identity.
Nov-2020: Acuant introduced a suite of no-code solutions for easy biometric identity verification. The latest Acuant GO offers customers the capabilities of Acuant’s Trusted Identity Platform with the fastest go-to-market method possible.
Oct-2020: Mitek Systems enhanced its identity verification software. They added near-field communication (NFC) technology to its software for increasing the speed and security of transactions, into its identity verification workflow.
Oct-2020: Thales unveiled its Identity Verification Suite. This solution offers a secure and 100%-AI identity verification service. The solution addresses the Covid-19 environment with touchless interactions, enabling service providers to reach end-users through their mobile handsets or the web.
Oct-2020: TransUnion launched a new Document Verification and Facial Recognition solution. The solution helped businesses in the United Kingdom (UK) fight against identity fraud the state-of-the-art technology avail customers with ID authentication and identity verification services at a time when fraud is running high in the world of business.
Jul-2020: Trulioo released facial recognition and document validation technology. The technology enabled small and medium-sized businesses (SMBs) in providing the same level of online protection to their customers as global conglomerates.
May-2020: Experian introduced Sure Profile, an offering to combat synthetic identity fraud. This solution helped Experian to share fraud losses with the lender if the losses occur on assured profiles. Sure Profile verifies consumer identities, recognizes profiles that increased risk for synthetic identity fraud, and helps in covering losses resulting from synthetic identity fraud for assured profiles.
Mar-2020: LexisNexis introduced LexisNexis Behavioral Biometrics to its portfolio of fraud and identity solutions. Behavioral Biometrics integrated with existing digital identity intelligence allows organizations to create more reliable fraud and risk decisions.
Feb-2020: Mitek announced innovation in its Liveness Detection feature. Through this, Mitek extended its technology to provide virtually spoof-proof facial comparison across all digital channels through one simple selfie.
Jan-2020: GBG unveiled four fraud solutions that include flagship Instinct Hub as a platform solution. It enabled businesses to onboard quality customers more swiftly while protecting their organizations and their customers against losses from fraud and financial crimes in the digital landscape.
Scope of the Study
Market Segments covered in the Report:
By Component
• Solutions
• Services
By Type
• Non- Biometrics
• Biometrics
By Enterprise Size
• Large Enterprise
• Small & Medium Enterprise
By Deployment Type
• On-premises
• Cloud
By End User
• BFSI
• Energy & Utilities
• Healthcare
• Retail & eCommerce
• Government & Defense
• IT & Telecommunication
• Others
By Geography
• North America
o US
o Canada
o Mexico
o Rest of North America
• Europe
o Germany
o UK
o France
o Russia
o Spain
o Italy
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Singapore
o Malaysia
o Rest of Asia Pacific
• LAMEA
o Brazil
o Argentina
o UAE
o Saudi Arabia
o South Africa
o Nigeria
o Rest of LAMEA
Companies Profiled
• Experian PLC
• GB Group PLC
• Equifax, Inc.
• Mitek Systems, Inc.
• Thales Group S.A.
• RELX PLC (LexisNexis Risk Solutions, Inc.)
• Onfido Limited
• Trulioo, Inc.
• Acuant, Inc.
• TransUnion LLC.
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Artificial Intelligence
Lithium Miners Strategize for Long-Term Gains as Market Recovers
USA News Group Commentary
Issued on behalf of Lithium South Development Corporation
VANCOUVER, BC, May 3, 2024 /PRNewswire/ — USA News Group – Despite what appears to be a supply glut currently in the global lithium market, already there are signs of a lithium rebound on the horizon. According to Statista, global lithium demand is projected to grow through next year, while Fastmarkets predicts lithium supply will increase 30% in 2024. Fastmarkets also expects that by 2030, US lithium demand alone will grow by nearly 500%. Looking ahead, lithium miners continue to move their chess pieces onto the board with anticipation of long-term rewards, including the work of Lithium South Development Corporation (TSXV:LIS) (OTC:LISMF), Sociedad Química y Minera de Chile S.A. (SQM) (NYSE:SQM), Piedmont Lithium Inc. (NASDAQ:PLL), Lithium Americas Corp. (NYSE:LAC) (TSX:LAC), and Rio Tinto Group (NYSE:RIO).
Lithium South Development Corporation (TSXV:LIS) (OTC:LISMF) recently filed a new Preliminary Economic Assessment (PEA), which provides support for the company to proceed with development plans for a 15,600 tonnes per year lithium carbonate plant. As per the PEA, the project’s financial model shows a Net Present Value (NPV) after tax of US$938 million, and an after-tax Internal Rate of Return (IRR) of 31.6%, with a 2.5-year payback.
“We are very pleased to have achieved this important milestone for the HMN Li Project,” said Adrian F.C. Hobkirk, Founder, President and CEO of Lithium South. “The robust economics and room for expansion indicate a promising future for Lithium South.”
The HMN Li project is planned to use an extraction and recovery process based on conventional solar evaporation of the well brine. Magnesium and other contaminants will be removed using industry standard proven methods including liming. The concentrated lithium solution will then be processed into lithium carbonate technical grade.
The PEA announcement came just weeks after the company announced the expansion of its ongoing production well drill program. A 400 meter deep pumping well has been completed at the Alba Sabrina claim block, which at 2,089 hectares is the project’s largest. Recent efforts at the well successfully cleared out sediments, leading to the flow of clear brine with strong artesian characteristics, suggesting potential for enhanced brine extraction rates. To maximize these benefits, Lithium South has contracted a significantly larger 80-kilowatt pump, and is now completing a long term pump test. Based on results, further wells are planned for Alba Sabrina and the southern claim blocks at Viamonte and Norma Edith.
“These developments on the Alba Sabrina claim block could potentially enhance our operational capacity,” said Hobkirk. “The completion of this pumping test, anticipated by the end of May, will provide critical technical insight into the capacity potential of this area of the salar.”
Earlier in the year, Lithium South together with the Korean conglomerate POSCO, entered into a cooperative development agreement on the HMN Li Project, representing a crucial step forward in advancing towards lithium production. Previously, towards the end of 2023, Lithium South also released an updated NI 43-101 technical report for its premier HMN Li asset, which demonstrated a significant 175% boost in its lithium resource, amounting to over 1.58 million tonnes of lithium carbonate equivalent (LCE).
According to Chile’s Sociedad Química y Minera de Chile S.A. (SQM) (NYSE:SQM), there will be steady lithium prices in the coming months, despite the supply glut. In particular, SQM is optimistic for the second half of the year, which the company predicts will entail higher sales volumes.
“As we enter into 2024, we anticipate another robust year of growth in lithium market, with global demand increasing by at least 20%, supported by electric vehicle sales growth globally and increasing demand for battery materials,” said Ricardo Ramos, CEO of SQM. “However, the excess in lithium and battery materials capacity seen during last year is expected to continue during this year, keeping pressure on lithium market prices. We expect our average lithium prices to remain relatively stable throughout the year and our sales volumes to increase slightly during this year, subject to market conditions and any changes in supply-demand balance.”
This optimism was shared by Keith Phillips, CEO of Piedmont Lithium Inc. (NASDAQ:PLL) in an interview with Yahoo! Finance Live.
“[When it comes to mining] low prices are the cure for low prices,” said Phillips, adding that “it’s a matter of time” that prices will rebound. How fast that rebound occurs is still to be determined, however, Piedmont isn’t slowing its march.
Just recently, Piedmont received its state mining permit from the state of North Carolina, where the company owns 3,600 acres, from which it plans to mine spodumene from at least half of the area. Piedmont will then convert the material to lithium hydroxide, which is key to the manufacturing of EV batteries.
“We look forward to continued engagement with the local community and the Gaston County Board of Commissioners,” said Phillips. “We have had extensive and ongoing dialogue with possible funding sources for Carolina Lithium.”
Domestically sourced lithium is projected to become even more desirable, especially with US government incentives underway. Lithium Americas Corp. (NYSE:LAC) (TSX:LAC) recently secured a record $2.26 billion loan from the US Department of Energy to build its Thacker Pass lithium project in Nevada.
Construction began at the site located just south of the Nevada-Oregon border in March 2023, following a lengthy and intricate legal victory over conservationists, ranchers, and Indigenous groups. Lithium Americas anticipates finalizing securing a loan later this year, pending the completion of final environmental assessments. Once the financing is in place, the company aims to commence substantial construction activities, a project slated to last three years. The initial phase of the mine is projected to yield 40,000 metric tons of battery-grade lithium carbonate annually, sufficient to supply up to 800,000 electric vehicles.
“Our team has been focused on refining the development plan and de-risking construction execution of Phase 1 for Thacker Pass,” said Jonathan Evans, President and CEO of Lithium Americas. “We have de-risked execution by advancing detailed engineering and project planning. To date, we have completed all the early-works and infrastructure required for major construction, including excavating the processing plant areas.”
Looking at multiple international lithium projects, mining giant Rio Tinto Group (NYSE:RIO) has already expressed the company remains bullish on lithium despite not currently seeking any big acquisitions. Back in March, Rio Tinto committed to spending $350 million on its Rincon lithium project in Argentina, set to commence production by the end of the year.
This comes just months after the President of Serbia expressed interest to hold further talks with Rio Tinto regarding its Jadar lithium project, after the country revoked licenses on the $2.4 billion asset in 2022. If brought to completion, the project could supply 90% of Europe’s current lithium needs, and make Rio Tinto a leading lithium producer. As well, Rio Tinto held talks with the country of Rwanda back in January for the exploration and mining of lithium in the East African nation.
“[Rio Tinto is] “excited to be partnering with the government of Rwanda, applying our global experience to accelerate the search for primary lithium deposits in Rwanda’s Western Province,” said Lawrence Dechambenoit, global head of external affairs at Rio Tinto. The move could further unlock the potential of another country’s mining sector, if successful.
Source: https://usanewsgroup.com/2023/10/18/the-lithium-race-to-power/
CONTACT:USA NEWS [email protected] (604) 265-2873
Mr. William Feyerabend, a Consulting Geologist and Qualified Person under National Instrument 43-101 participated in the production of this advertisement, and approves of the technical and scientific disclosure contained herein pertaining to Lithium South.
DISCLAIMER: Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. Equity Insider is a wholly-owned subsidiary of Market IQ Media Group, Inc. (“MIQ”). MIQ has been paid a fee for Lithium South Development Corporation advertising and digital media from the company directly. There may be 3rd parties who may have shares of Lithium South Development Corporation, and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of MIQ own shares of Lithium South Development Corporation which were purchased as a part of a private placement. MIQ reserves the right to buy and sell, and will buy and sell shares of Lithium South Development Corporation at any time thereafter without any further notice. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material disseminated by MIQ has been approved by the above mentioned company; this is a paid advertisement, and we own shares of the mentioned company that we will sell, and we also reserve the right to buy shares of the company in the open market, or through further private placements and/or investment vehicles. The contents of this advertisement were reviewed by Mr. William Feyerabend, a Consulting Geologist and Qualified Person as defined under National Instrument 43-101. Mr. Feyerabend approves of the scientific and technical disclosure pertaining to Lithium South contained within this advertisement. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.
View original content:https://www.prnewswire.co.uk/news-releases/lithium-miners-strategize-for-long-term-gains-as-market-recovers-302135776.html
Artificial Intelligence
ROLLER and Amusement Connect Announce Integration to Streamline Cashless Card Operations
New partnership enhances guest experiences and operational efficiency across attraction venues
AUSTIN, Texas, May 3, 2024 /PRNewswire/ — In an effort to improve the guest experience and streamline operations for attractions venues, ROLLER, a global leader in leisure and attractions technology, has joined forces with Amusement Connect, a recognized leader in cashless card operations. This strategic partnership delivers an integration that aims to streamline the arcade experience for operators and guests alike, providing a more efficient way for entertainment venues to operate.
Through this integration, ROLLER and Amusement Connect enable the sale, top-up, and balance checks of cashless cards directly from ROLLER’s point-of-sale devices, simplifying the management of pay-to-play attractions. This move is expected to enhance operational efficiency and improve guest satisfaction by making sales smoother and more convenient. The integration also simplifies reporting by automatically recording every purchase of a cashless card, saving venue operators time and ensuring accurate tracking of purchases.
Both companies leverage cloud-based technology to ensure that venues can operate without the need for expensive servers, with the promise of continuous updates to keep the systems equipped with the latest features and improvements. This integration also introduces the option for guests to purchase game cards online through ROLLER’s online checkout, a feature designed to make the check-in process more efficient and increase average transaction values.
“Amusement Connect and ROLLER have a shared commitment to helping attractions businesses deliver exceptional guest experiences. So, we’re thrilled to partner with Amusement Connect on this integration – a trailblazing company known for great customer support and providing innovative tech. This isn’t just about upgrading our technology—it’s delivering on our promise to make every guest experience smoother and every operator’s day a bit easier,” explained Luke Finn, CEO and Founder of ROLLER.
“As we continue to innovate and collaborate with industry leaders like ROLLER, we’re thrilled to see the tangible benefits our integration brings to our customers. Together, we’re not just transforming transactions; we’re elevating experiences and driving profitability with every interaction,” commented Frank Licausi, Co-Owner of Amusement Connect.
This partnership between ROLLER and Amusement Connect represents a significant step towards more streamlined operations in the amusement industry. It offers a blend of efficiency and convenience aimed at improving the way entertainment venues operate and enhancing the overall guest experience. For more information on this integration and how it can benefit your venue, contact ROLLER or Amusement Connect directly.
About ROLLER
ROLLER is the cloud-based venue management platform for the modern attraction, purpose-built to remove friction from the guest experience at every touchpoint. Their all-in-one platform simplifies its customers’ business processes, improving efficiency and maximizing revenue. ROLLER’s comprehensive solution includes: Online Checkout & Ticketing, Point-of-Sale, Integrated Payments, Memberships, Gift Cards, Waivers, Self-Serve Kiosks, Cashless Wallets, the Guest Experience Score®, and more. To learn more, visit roller.software.
About Amusement Connect
Founded by Frank Licausi and John Tarpley in 2017, our comprehensive game card system, accompanied by a variety of products, provides a complete overview on games and attractions in settings like bars, arcades, FEC’s, and multi-location entertainment centers. As operators and industry experts, we bring innovation, value, and the best possible experiences to entertainment venues with our award-winning game card system. Bringing you more at amusementconnect.com.
View original content:https://www.prnewswire.co.uk/news-releases/roller-and-amusement-connect-announce-integration-to-streamline-cashless-card-operations-302135415.html
Artificial Intelligence
Computer Vision in Healthcare Market Worth $11.5 billion | MarketsandMarkets™
CHICAGO, May 3, 2024 /PRNewswire/ — Computer Vision in Healthcare Market in terms of revenue was estimated to be worth $3.9 billion in 2024 and is poised to reach $11.5 billion by 2029, growing at a CAGR of 24.0% from 2024 to 2029 according to a new report by MarketsandMarkets™.
The market’s expansion is fueled by the exponential growth of medical imaging data which necessitates efficient analysis methods, where computer vision techniques excel in automating and enhancing diagnostic processes. Further, the demand for improved patient care and outcomes fuels the adoption of AI-driven solutions, empowering healthcare providers with precise tools for diagnosis, treatment planning, and monitoring. Nevertheless, ensuring the accuracy and reliability of computer vision algorithms remains a significant challenge, especially in complex medical imaging tasks where errors can have critical consequences. Additionally, the regulatory landscape surrounding AI-based medical devices is evolving, requiring stringent validation and approval processes, which can impede the timely deployment of innovative solutions. Thus, restraining the market.
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Browse in-depth TOC on “Computer Vision in Healthcare Market”
505 – Tables55 – Figures379 – Pages
Computer Vision in Healthcare Market Scope:
Report Coverage
Details
Market Revenue in 2024
$3.9 billion
Estimated Value by 2029
$11.5 billion
Growth Rate
Poised to grow at a CAGR of 24.0%
Market Size Available for
2022–2029
Forecast Period
2024–2029
Forecast Units
Value (USD Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
Product & Service, Type, Applications, End User
Geographies Covered
North America, Europe, Asia Pacific, Latin America and Middle East and Africa
Report Highlights
Updated financial information / product portfolio of players
Key Market Opportunities
Computer vision solutions for healthcare that are hosted in the cloud
Key Market Drivers
The healthcare sector is experiencing a growing need for computer vision systems
“The largest share in the computer vision in healthcare market, based on type, was attributed to the PC-based computer vision systems segment in 2023.”
The PC-based computer vision systems segment holds the largest market share in the computer vision in healthcare market in 2023. The growth of this segment is propelled by factors such as PCs offering robust computational power, enabling real-time processing of complex algorithms required for tasks like medical image analysis. Also, PCs provide flexibility and scalability, allowing users to customize hardware configurations and software solutions according to specific requirements. This versatility makes them adaptable to various healthcare settings, from small clinics to large hospitals.
“In 2023, the patient activity monitoring/fall prevention segment demonstrated the most significant growth in the computer vision in healthcare market based on hospital management by type.”
The patient activity monitoring/fall prevention segment is expected to experience the highest growth in the computer vision in healthcare market. The key drivers for this growth include the aging population worldwide that has led to an increased focus on elderly care and fall prevention initiatives. Computer vision systems offer non-intrusive and continuous monitoring of patients’ movements, enabling early detection of potential fall risks and timely intervention to prevent accidents. Also, the growing adoption of wearable devices and smart sensors integrated with computer vision technology allows for seamless monitoring of patients’ activities both inside healthcare facilities and at home. This remote monitoring capability enhances patient safety and independence while reducing the burden on caregivers and healthcare resources.
“North America accounted for the largest share of the healthcare simulation market in 2023.”
In 2023, North America held the largest share in the computer vision in healthcare market, with Europe and Asia Pacific following. The significant presence of North America in the global market can be attributed to factors such as region’s strong focus on improving patient outcomes and reducing healthcare costs which incentivizes the integration of computer vision solutions to streamline processes, enhance diagnostics, and optimize treatment pathways.
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Computer Vision in Healthcare Market Dynamics:
Drivers:
The healthcare sector is experiencing a growing need for computer vision systemsRestraints:
The resistance of medical practitioners towards adopting AI-based technologiesOpportunities:
Computer vision solutions for healthcare that are hosted in the cloudChallenge:
Lack of curated dataKey Market Players of Computer Vision in Healthcare Industry:
The key players functioning in the computer vision in healthcare market include NVIDIA Corporation (US), Intel Corporation (US), Microsoft Corporation (US), Advanced Micro Devices, Inc. (US), Google, Inc. (US), Basler AG (Germany), AiCure (US), iCAD, Inc. (US), Thermo Fisher Scientific Inc. (US), SenseTime (China), KEYENCE CORPORATION (Japan), Assert AI (India), Artisight (US), LookDeep Inc. (US), care.ai (US), CareView Communications (US), VirtuSense (US), Teton (Denmark), viso.ai (Switzerland), NANO-X IMAGING LTD. (Israel), Comofi Medtech Pvt. Ltd. (India), Avidtechvision (India), Roboflow, Inc. (US), Optotune (US) and CureMetrix, Inc. (US).
The break-down of primary participants is as mentioned below:
By Company Type – Tier 1: 45%, Tier 2: 30%, and Tier 3: 25%By Designation – C-level: 42%, Director-level: 31%, and Others: 27%By Region – North America: 32%, Europe: 32%, Asia Pacific: 26%, Middle East & Africa: 5%, Latin America: 5%Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=231790940
Recent Developments of Computer Vision in Healthcare Industry:
In April 2024, iCAD partnered with RAD-AID to enhance breast cancer detection utilizing the AI technology in underserved regions and low- and middle-income countries (LMICs).In March 2024, Microsoft and NVIDIA have broadened their longstanding collaboration with robust new integrations that harness cutting-edge NVIDIA generative AI and Omniverse technologies across Microsoft Azure, Azure AI services, Microsoft Fabric, and Microsoft 365.In February 2022, Advanced Micro Devices acquired Xilinx. This acquisition established the forefront leader in high-performance and adaptive computing, with a significantly expanded scale and the most formidable portfolio of leadership computing, graphics, and adaptive SoC products in the industry.Computer Vision in Healthcare Market – Key Benefits of Buying the Report:
This report will enrich established firms and new entrants/smaller firms to gauge the market’s pulse, which, in turn, would help them garner a greater share of the market. Firms purchasing the report could use one or a combination of the below-mentioned strategies to strengthen their positions in the market.
This report provides insights on:
Analysis of key drivers: (Increasing demand for computer vision systems in the healthcare industry, government initiatives to increase the adoption of AI-based technologies), restraints (Reluctance of medical practitioners to adopt AI-based technologies), opportunities (Cloud-based healthcare computer vision solutions), and challenges (Rising security concerns related to cloud-based image processing and analytics) influencing the growth of the computer vision in healthcare market.Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the computer vision in healthcare market.Market Development: Comprehensive information on the lucrative emerging markets, products & services, applications, end-users, and regions.Market Diversification: Exhaustive information about the product portfolios, growing geographies, recent developments, and investments in the computer vision in healthcare market.Competitive Assessment: In-depth assessment of market shares, growth strategies, product offerings, and capabilities of the leading players in the computer vision in healthcare market like NVIDIA Corporation (US), Intel Corporation (US), Microsoft Corporation (US), Advanced Micro Devices, Inc. (US), Google, Inc. (US).Related Reports:
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