Artificial Intelligence
ePharmacy Market Size Worth US$370 Million by 2031: Visiongain Research Inc.
Visiongain has published a new report on Global ePharmacy Market Report Forecast 2021-2031. Forecasts by Product (Prescription Medicine (Rx) and Over-The-Counter (OTC)). PLUS Profiles of Leading ePharmacy Companies and Regional and Leading National Market Analysis. PLUS COVID-19 Recovery Scenarios.
Global ePharmacy market was valued at US$68.65 billion in 2020 and is projected to reach at a market value of US$370.13 million by 2031. This growth can be attributed to the growth in the internet users, rise in adoption of smartphones, increased number of e-prescriptions, and increasing aging population. However, the growing number of illegal online pharmacies and online availability of fake drugs are some of the factors restraining the growth of the ePharmacy market. Artificial intelligence revolutionizing the e-commerce industry, online pharmacies in the era of COVID-19, and allocation and supply of medicines for treatment of COVID-19 are some of the revenue pockets for the major companies in ePharmacy market globally.
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COVID-19 Impact on ePharmacy Market
The year 2020 is marked by rapid night-time changes and the feeling of uncertainty about health, business, education and even life is lost. Nothing is exempted by the globally hit COVID-19 pandemic which has now spread to almost every corner of the globe. The pandemic is becoming uncontrollable by each passing day and the authorities concerned are unable to deal with it. People are also adapting to changing life patterns and adopting the lifestyle of staying at home that the government of different countries is further implementing, imposing smart or full lock down in different parts of the country.
The recent lifestyle of staying home is shifting people’s attention to online buying and selling and virtual shopping, which has become a leading and growing trend in the COVID-19 pandemic, thus adding more significance and success to the e-commerce business sector.
In all kinds of companies, people were free to move and interact before the outbreak of CoronaVirus and thus the e-commerce business domain was not in focus as it is nowadays. In this way, it can be stated that the COVID-19 pandemic resulted in either self-imposed or government imposed lock down, which is fully functional in some areas and partially imposed in others, leading to quarantine for people. People are reluctant to return to their workplaces and resume the job from where they left it, because the number of cases of active corona is tipping. The fear of getting sick is the underlying reason behind people’s switch to online shopping, and this is actually the reason why the e-commerce industry is advancing by leaps and bounds.
Market Drivers
Increase in Internet users
About 4.66 billion people worldwide are now using the Internet – nearly 60 percent of the world’s population. The latest data shows that more than 321 million new users have showed up online in 12 months to October 2020. This number is also growing again. Internet users are currently more than 7% growing yearly, averaging more than 875,000 daily new users. Most Internet users (91%) use mobile devices to go online at least sometimes, but computers are also a large part of Internet activity. More than 30 percent of Internet users in the largest economies worldwide use computers and desktops to make their connected businesses at least.
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Increased number of e-prescriptions
In 2017 providers reported a total of 77.33 million e-prescriptions for controlled substances, up against 12.8 million in 2015, a 504 percent growth, according to the article published by Becker’s Healthcare. Around 77% of all prescriptions were electronically distributed, up from 73% in 2016. In 2017, the number of electronic prescriber products rose by 8%, and in 2017, the number of electronically prescribed controlled substances allowed by prescribers increased by 59%. The top five specialties for e-prescription are oncologists (84%), sports medicine (82%) nephrologers (80%), cardiologists (80%) and practitioners of the family (79 percent ).
Rise in geriatric population
The growing elderly population is set to drive the demand for ePharma services globally as the ePharma companies have minimise the dependency of chronically-ill and elderly people on third person for procuring medicines.
According to the 2019 Revision of the World Population Prospects, by 2050, one in six people will be over the age of 65 (16%), up from one in eleven in 2019. (9 percent). By 2050, one in every four people in Europe and North America will be 65 or older. For the first time in history, people aged 65 and up outnumbered children under the age of five on a global scale in 2018. The number of people aged 80 and up is expected to triple by 2050, from 143 million in 2019 to 426 million.
Market Opportunities
Revolutionizing the e-commerce industry with artificial intelligence
In fact, many people now know much about Artificial Intelligence (AI), but a lot of people know what AI defines. For trainees and beginners, the importance of various societies in the AI arena is even more unclear. However, when profitable companies begin to artificially advertise their instruments even if they are not identified, the problem is aggravated. With AI, the e-commerce sector enhances customer experience, directs prospective clients to increase their sales and commends the items on the basis of their buying and navigation models. Today, the e-commerce markets influence AI to help customers understand better and to shorten the many processes. Some of the methods in which AI is revolutionising the e-commerce environment are – a customer-centric method, experiences at chatbot, AI-driven marketing mechanisation for sellers, comprehension of computer-generated mirrors, and improved customer approval.
Allocation and supply of medicines for treatment of COVID-19
With the ever more confirmed cases worldwide and the decrease in availability of APIs, most pharmacies worldwide have to make a serious call. Assignment of and supply of medicinal products for COVID-19 therapy, suggesting that such medicinal products may not be offered in their regular supply for other treatments.
With the coronavirus pandemic clasping the world and the social distance between pharmacies and online, it is essential to change their operating methods both offline and online. Most online pharmacies give priority to essential medicines over others through the logistical nightmare of higher orders and panic purchases. Others are looking for ways of delivering drugs to doorsteps and reducing shop visits.
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Competitive Landscape
Some of the companies profiled in the report include CVS Health Corporation, The Kroger Co., Walgreens Boots Alliance, Inc., Giant Eagle, Inc., DocMorris, Walmart Inc., Optum, Inc., UK Meds Direct Ltd, McKesson Corporation, and Amazon.com, Inc. For example, Amazon Pharmacy, its online and mobile prescription medication ordering and fulfilment service, has finally launched, just over two years after its $753 million acquisition of the prescription medicine delivery service Pill Pack. Following the launch of its own line of over-the-counter drugs in 2019, this is arguably Amazon’s most comprehensive move into the healthcare business to date, one that could unlock significant new revenue opportunities for the company, particularly as the ongoing COVID-19 pandemic pushes consumers toward more remote care and the use of online channels for all of their shopping needs.
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Visiongain is one of the fastest growing and most innovative, independent, market intelligence around, the company publishes hundreds of market research reports which it adds to its extensive portfolio each year. These reports offer in-depth analysis across 18 industries worldwide. The reports cover a 10-year forecast, are hundreds of pages long, with in depth market analysis and valuable competitive intelligence data. Visiongain works across a range of vertical markets, which currently can influence one another, these markets include automotive, aviation, chemicals, cyber, defense, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors. Our customized and syndicated market research reports means that you can have a bespoke piece of market intelligence customized to your very own business needs.
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STOCKHOLM, Oct. 11, 2024 /PRNewswire/ — The following representatives of ASSA ABLOY AB’s shareholders will be members of the Nomination Committee for the 2025 Annual General Meeting:
– Johan Menckel, Investment AB Latour, Chairman of the Nomination Committee
– Mikael Ekdahl, Melker Schörling AB
– Marianne Nilsson, Swedbank Robur Fonder
– Yvonne Sörberg, Handelsbanken Fonder
– Carina Silberg, Alecta
The Chairman of the Board, Johan Hjertonsson, has been co-opted to the Nomination Committee.
The Nomination Committee shall prepare proposals for the Annual General Meeting in 2025 regarding the election of Chairman of the General Meeting, members of the Board of Directors, Chairman of the Board, Vice Chairman of the Board, auditor, fees for the members of the Board including division between the Chairman, the Vice Chairman and the other Board members as well as fees for committee work, fees to the company’s auditor and, if necessary, changes to the instructions for the Nomination Committee.
The Annual General Meeting will be held on 23 April 2025, in Stockholm, Sweden.
Shareholders who wish to submit proposals to the Nomination Committee should send an email to [email protected].
For more information, please contact:Nico Delvaux, President and CEO, tel. no: +46 8 506 485 82Erik Pieder, CFO and Executive Vice President, tel. no: +46 8 506 485 72 Björn Tibell, Head of Investor Relations, tel. no: +46 70 275 67 68
About ASSA ABLOY
The ASSA ABLOY Group is the global leader in access solutions. The Group operates worldwide with 61,000 employees and sales of SEK 141 billion. The Group has leading positions in areas such as efficient door openings, trusted identities and entrance automation. ASSA ABLOY’s innovations enable safe, secure and convenient access to physical and digital places. Every day, we help billions of people experience a more open world.
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Artificial Intelligence
AI in Social Media Market worth $10.33 billion by 2029- Exclusive Report by MarketsandMarkets™
DELRAY BEACH, Fla., Oct. 11, 2024 /PRNewswire/ — The AI in Social Media Market is projected to grow from USD 2.20 billion in 2024 to USD 10.33 billion by 2029, at a compound annual growth rate (CAGR) of 36.2% during the forecast period, according to a new report by MarketsandMarkets™. The market is expected to grow due to the rise in the need for more personalized user experiences, optimized advertising, and automated customer service.
Browse in-depth TOC on “AI in Social Media Market”
315 – Tables 63 – Figures320 – Pages
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Scope of the Report
Report Metrics
Details
Market size available for years
2019-2029
Base year considered
2023
Forecast period
2024-2029
Forecast units
USD (billion)
Segments Covered
Product type, Use case, End user, and Region
Geographics covered
North America, Europe, Asia Pacific, Middle East & Africa, Latin America
Companies covered
Major vendors in the global AI in Social Media Market are Google (US), Meta (US), IBM (US), Sprout Social (US), Sprinklr (US), AWS (US), LivePerson (US), HubSpot (US), Microsoft (US), Adobe (US), Baidu (China), OpenAI (US), Hootsuite (US), Qualtrics (US), Brandwatch (UK), Converseon (US), Meltwater (US), Quid (US), Digimind (France), CreatorIQ (US), Aspire.io (US), Lately.AI (US), SocialPilot (US), Copy.ai (US), Flick (UK), Dash Hudson (US), Jasper (US), Upfluence (US), Ocoya (Lithuania), Upgrow (US), StoryChief (Belgium), Genius.AI (UAE), ContentStudio (US), Emplifi (US), Lumen5 (US), Buffer (US), Narrato (India), Mentionlytics (UK), Kapwing (US), Predis.AI (India), Pictory (US), Midjourney (US), and Synthesia (UK).
The major factors driving the market growth of AI in Social Media Market include the introduction of AI-powered deepfake detection in social media to identify and flag altered content. Social platforms are increasingly relying on advanced AI algorithms to detect and flag manipulated videos, images, and audio, addressing growing concerns about misinformation, fraud, and digital deception. Growth in Gen AI-based content creation tools enables brands to create captivating and unique content. These tools empower brands to effortlessly create captivating, unique content at scale, allowing personalized engagement with audiences. The rising demand for highly personalized content and recommendations tailored to user preferences and behavior are shaping the social media market. This personalization boosts user satisfaction, fosters stronger engagement, and increases time spent on platforms, benefiting users and advertisers. Improved collaboration between influencers and brands is boosting the effectiveness of influencer marketing campaigns with AI. AI tools help brands and influencers to better understand the audiences by analyzing data like preferences, behaviors, and trends. This helps both brands and influencers grow their reach and engagement which makes influencer marketing campaigns successful.
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Advent of Gen AI-based content creation tools enables brands to create captivating and unique content.
The rise of gen AI-based content creation tools has transformed social media by empowering brands to create unique content. These tools are powered by advanced language models, enable automated text generation, images, and videos that cover target audiences, and maintain a dynamic presence on platforms. The utilization of gen AI across sectors such as entertainment, healthcare, and marketing agencies is transforming content creation and customer engagement. Gen AI also simplifies content production workflow, reducing time and cost related to traditional content creation methods. Global tech giants are investing heavily in AI technologies to improve user experience, enhance advertising effectiveness, and gain competitive advantages in the AI in social media market.
By Product type, the influencer marketing segment registers for the fastest growing market during the forecast period.
By automating and optimizing influencer marketing, AI social media tools enable brands to make data-driven decisions, reach relevant audiences, and ensure their campaigns are more effective and cost-efficient. AI-based social media tools in influencer marketing assist brands in detecting fraudulent influencers, which can improve the ROI, increase sales, and improve the brand’s reputation. For instance, AI content tools like Lumen5, Canva, Jasper, and Midjourney are major tools for improving influencer marketing strategies by crafting high-quality content.
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By region, Asia Pacific to register the highest CAGR market during the forecast period.
Asia Pacific is a rapidly growing region for AI in social media, compelled by high mobile and internet penetration rates and a young, tech-savvy population. Countries like China, India, Japan, and South Korea are leading the adoption, with social media platforms being central to the region’s social media ecosystem. With the vast amount of content generated in diverse languages, AI in social media is used for content moderation, language translation, and understanding user-generated content, specifically across China and India.
Top Key Companies in AI in Social Media Market:
Some major players in the AI in Social Media Market include Google (US), Meta (US), IBM (US), Sprout Social (US), Sprinklr (US), AWS (US), LivePerson (US), HubSpot (US), Microsoft (US), Adobe (US), Baidu (China), OpenAI (US), Hootsuite (US), Qualtrics (US), Brandwatch (UK), Converseon (US), Meltwater (US), Quid (US), Digimind (France), CreatorIQ (US), Aspire.io (US), Lately.AI (US), SocialPilot (US), Copy.ai (US), Flick (UK), Dash Hudson (US), Jasper (US), Upfluence (US), Ocoya (Lithuania), Upgrow (US), StoryChief (Belgium), Genius.AI (UAE), ContentStudio (US), Emplifi (US), Lumen5 (US), Buffer (US), Narrato (India), Mentionlytics (UK), Kapwing (US), Predis.AI (India), Pictory (US), Midjourney (US), and Synthesia (UK).
Browse Adjacent Markets: Artificial Intelligence (AI) Market Research Reports & Consulting
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Artificial Intelligence
NTT DATA signs agreement to acquire Aoop and will become a leader in ServiceNow solutions in Latin America
BIELEFELD, Germany and SÃO PAULO, Oct. 11, 2024 /PRNewswire/ — NTT DATA Business Solutions AG, a global unit of NTT DATA, announces that the agreement for the acquisition of Aoop, a leading ServiceNow implementation company in Brazil, has been signed. The terms of the acquisition have been finalized between the companies and will be completed following approval from the Administrative Council for Economic Defense (CADE). Founded in 2017, Aoop supports customers across various industries and is a specialist in the acceleration of automated digital strategies. With Aoop, NTT DATA will expand its operations in the Latin American ServiceNow solutions market, complementing a recent acquisition in the UK focused on strengthening this offering in Europe and the United States.
“With the acquisition of Aoop, we significantly increase our competitive strength in Brazil by offering both SAP and ServiceNow solutions, positioning us alongside market leaders,” says Norbert Rotter, CEO, NTT DATA Business Solutions. “This move will not only secure us a leading position in the fast-growing ServiceNow ecosystem but will also integrates a company with a strong market presence and solid financials to NTT DATA. It will be a significant step in driving our strategic objectives, strengthening our partnership with ServiceNow and our commitment to establishing a Center of Excellence in the region.”
Ricardo Fachin, Managing Director of NTT DATA Business Solutions Brazil adds: “The acquisition of Aoop will solidify our leading position in the Brazilian market. It will enhance synergies with our other Latin American and U.S. operations, accelerating our regional growth. As part of ServiceNow’s global strategy, Brazil will become a significant shoring center for the group. Aoop’s comprehensive portfolio, covering all ServiceNow verticals, will benefit all NTT DATA customers.”
With a strategy focused on driving the future of organizations and providing full lifecycle services, Aoop has completed around 2,500 digital transformation projects and has over 300 professionals certified on ServiceNow solutions. This expertise has led the company to become a ServiceNow Elite Partner in record time. The continuous commitment to excellence and the delivery of innovative solutions have established Aoop as a market reference, integrating intelligent efficiency throughout the entire production chain.
“Aoop leads the ServiceNow market in Brazil. Our integration with NTT DATA Business Solutions will allow us to further expand our solution offerings to existing customers, access new opportunities for joint solutions with SAP customers and accelerate our international expansion,” says Luiz Cesar Baptistella, CEO and founder of Aoop.
The acquisition of Aoop will add 120 customers to the portfolio of NTT DATA Business Solutions, which has been operating in Brazil for 25 years. Aoop will become a subsidiary of NTT DATA Business Solutions – Servicos de Tecnologia Ltda. in Brazil and will operate as an independent company after the acquisition, using the brand name “Aoop, an NTT DATA Company”.
For more information visit nttdata-solutions.com.
About NTT DATA Business Solutions
NTT DATA Business Solutions is a leading global IT service provider focused on SAP with a powerful ecosystem of partners. With more than 35 years of in-depth experience, we enable companies worldwide to become Intelligent Enterprises. We deliver end-to-end solutions that accelerate sustainable growth and success – from strategic consulting and implementation to managed services and beyond. As a global strategic SAP partner, we drive innovation and leverage the latest technologies to support our customers individually and across all industries. Our more than 15,300 dedicated employees in over 30 countries work passionately every day to make it happen.
NTT DATA Business Solutions is part of NTT DATA, a $30+ billion trusted global innovator of business and technology services headquartered in Tokyo. As One NTT DATA we serve 75% of the Fortune Global 100 and are committed to helping customers innovate, optimize and transform for long-term success. NTT DATA is part of NTT Group.
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Local
Global
Sofia Baldessar
Sales Operation Director
NTT DATA Business Solutions –
Servicos de Tecnologia Ltda.
1440 Visconde de Nacar Street –
13th floor Curitiba, Paraná, Brazil
T: +55 41 988658826
Email: [email protected]
Jasmin Straeter
Head of Global Communications
NTT DATA Business Solutions AG
Königsbreede 1, 33605 Bielefeld, Germany
T: +49 521 9 14 48 108
Email: [email protected]
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