Artificial Intelligence
Internet of Senses Market Projected to Grow at a significant CAGR by 2030 – Report by Market Research Future (MRFR)
New York, US, Jan. 04, 2022 (GLOBE NEWSWIRE) — Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Internet of Senses Market information by Technology, by Components, by Application and Region – forecast to 2030” market size to grow at a significant compound annual growth rate by 2030.
Market Scope:
Increasing connected technology and advances in wireless technology will offer lucrative opportunities for the market in the forecast period. Wireless technologies like 5G technology is being launched rapidly all across the world. Such advances has bolstered the use cases of VR and AR. Connected homes, connected cars, and connected business processes are turning more common as this was merely a concept a couple of years ago. The advances in technology in wireless technology today have made various things probable and are predicted to create a huge revolution in the connected technology. In short, the internet of senses technology is likely to attain new heights with the rollout of 6G technology in the upcoming decade.
Market USP Exclusively Encompassed:
Market Drivers
Immersive online shopping and entertainment will boost market growth over the forecast period. From online social gatherings and digital malls to immersive entertainment, digital sensory experiences have the promise of completely reshaping several industries. These will open full new avenues for value creation, unlocking novel means for brands in connecting with consumers and transforming how people perceive the life around them. Digital malls in the years to come will offer texture, taste, and smell for making online shopping experiences indistinguishable to buy things at a brick and mortar store. Digital taste manipulation will revolutionize the food industry via providing new taste experiences sans any health drawbacks. Further, in the media and entertainment industry, advertisements and films can be experienced in a completely new, immersive way. Thus, online shopping and immersive entertainment are likely to offer new revenues for the internet of senses market.
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Privacy Constraints and High Cost to act as Market Restraint
Though the internet of senses is extremely promising and will greatly improve the connected experience, there are certain concerns related to the technology. Such concerns stem from the fact that the internet of senses technology of late is quite pricey and has privacy risks. For the soaring prices related to such digital multi-sensory devices, there is automatically a worry regarding how easily this technology will get adapted unless there is a significant drop in price. Also, data privacy concerns in the technology are also a major restraint. Advertisers will be leveraging individual’s personal digital sensory information. The data ultimately is leveraged via the internet of senses is a highly critical and personal information and the usage of this data conveys marketers enough about a person. As this technology has become widely used, digital data laws will require beginning in regulating the usage of this sensitive data.
Segmentation of Market Covered in the Research:
The global internet of senses market has been bifurcated based on component, technology, application, and end user.
By component, the global internet of senses market is segmented into hardware, software, and services. Hardware segment is again bifurcated into sensors and devices.
By technology, the global internet of senses market is segmented into artificial intelligence, augmented reality, virtual reality, and others.
By application, the global internet of senses market is segmented into hearing, sight, smell, taste, touch, and mind.
By end user, the global internet of senses market is segmented into consumers and enterprises. Enterprises is further segmented into retail, manufacturing, healthcare, automotive, education, media & entertainment, aerospace & defense, government, and others.
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Regional Analysis
APAC to Have Lions Share in Internet of Senses Market
The APAC region will possess the lions share in the internet of senses market over the forecast period. The region being a quick internet of senses technology adopter, rapid expansion of 5G networks over other regions, rapid development, China and South Korea being leading adopters of this technology coupled with increasing adoption & rapid development done in shorter time period to deploy 5G, these two countries being pioneers in 6G vision, China developing 6G strategy by rolling out the first every 6G satellite in the world into space for testing this technology, South Korea’s Ministry of Science and ICT having established a 6G research and development implementation plan which calls to invest approximately $194 million by 2025 in 6 focus areas, 6G playing a pivotal part in the digital senses experience are adding to the global internet of senses market growth in the region.
North America to Have Admirable Growth in Internet of Senses Market
North America will have admirable growth in the internet of senses market over the forecast period for the rapid automation, increasing shift towards connected technology, and increased use of AI, VR, and AR and automation among enterprises and consumers.
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COVID-19 Impact on the Global Internet of Senses Market
The outbreak forced lockdown situations across every major economy and imposed numerous restrictions like import-export ban, work from home, closure of the shops and markets, travel barriers, and others. Governments all over the world made different guidelines to stop the further spread of the COVID-19 virus. The coronavirus cases despite this increased significantly and also continued to rise. The crisis hit every major industry like transportation, automotive, tourism, oil and gas, leisure, hospitality, trade, manufacturing, and others.
Besides, the 5G rollout got postponed or impacted in few of the countries for the unexpected outbreak. Some countries however spent billions of dollars and also considerably expanded the 5G network at the unprecedented time. China is a key country which has expanded the 5G rapidly and now the country reached 450 million 5G users. Apart from this, the US and South Korea also deployed 5G at the time of the crisis at a higher scale and this deployment is predicted to support the early probability for the internet of senses technology.
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About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
Artificial Intelligence
Jean-Michel Jarre is world’s first passenger to take off in KleinVision’s flying AirCar
PIESTANY, Slovakia, April 24, 2024 /PRNewswire/ — Godfather of electronic music and innovator Jean-Michel Jarre becomes world’s first passenger to take off in KleinVision’s flying AirCar in preparation for Starmus Opening Concert also Featuring Sir Brian May of Queen.
KleinVision’s AirCar took to the skies with electronic music pioneer, Jean-Michel Jarre as its first passenger this month, signaling a new era of transportation innovation. AirCar, which received the Certificate of Airworthiness in January 2022, has already logged an impressive 130 flight hours and over 520 takeoffs.
“It is like being in a Jules Verne book, but for real! One second you speak to the driver, and next, you are up there in the air – an amazing experience!” said Jean-Michel Jarre after completing two flights in the AirCar at Piestany international airport.
The artist’s excitement was palpable as he marveled at the futuristic experience, perfectly reflecting the theme of his upcoming Starmus opening concert, ‘The Bridge from the Future’, powered by ESET, global digital security leader.
“AirCar addition to Starmus is a fantastic complement to our festival experience,” said Garik Israelian, PhD, astrophysicist at the Institute of Astrophysics of the Canary Islands and co-founder of Starmus, alongside Sir Brian May. “It mirrors the exhilarating journey we embark on, starting with Jean-Michel and Brian’s monumental concert that propels us to new heights, soaring alongside artists and inspiring thinkers like Jane Goodall, and coming back to Earth with the wisdom of astronaut Chris Hadfield once the festival concludes.”
“AirCar will not only be part of the Starmus opening concert, it will also be showcased at Starmus Camp, which, together with the Stephen Hawking Medal Ceremony and nine Nobelists giving lectures, will turn Bratislava into the world capital of science.”
Film director Todd Douglas Miller, Emmy Award-winning filmmaker of Apollo 11, captured the historic moment as he filmed the AirCar soaring at 2500 feet. “It looks impossible. It looks like it’s doing something it should not be doing!” Miller remarked, highlighting the groundbreaking nature of AirCar.
Professor Stefan Klein, inventor and pilot, expressed his pride as Jean-Michel became the inaugural passenger on the groundbreaking aircraft. “From dreams to reality, we have taken flight together with Jean-Michel, opening a new era of transportation with a touch of magic,” said Klein, moments before completing another successful intercity flight from Piestany to Nitra.
Anton Zajac, co-founder of KleinVision and ESET, lauded the advancement the AirCar represents in blurring the lines between roads and skies. “We are bridging the gap between the road and the sky, giving cars the freedom they symbolized 50 years ago,” Zajac remarked.
The flights took place in Piestany, Slovakia, and marked a momentous step towards a future where terrestrial and aerial travel seamlessly converge.
To see the short footage of the flight, click here.
Photo – https://mma.prnewswire.com/media/2395057/Klein_Vision.jpg
View original content:https://www.prnewswire.co.uk/news-releases/jean-michel-jarre-is-worlds-first-passenger-to-take-off-in-kleinvisions-flying-aircar-302124769.html
Artificial Intelligence
SUPCON Unveils Groundbreaking Products in June, Including the World’s First UCS
HANGZHOU, China, April 24, 2024 /PRNewswire/ — In June, SUPCON (688777) is poised to launch two groundbreaking products in Singapore: the world’s first UCS (Universal Control System) and TPT (Time-Series Pre-trained Transformer), the first time-series model in the process industry.
UCS, a revolutionary innovation from SUPCON, is set to revolutionize the 50-year-old DCS architecture, promising to eliminate traditional control cabinets.
TPT, as the pioneering time-series model in the process industry, will replace numerous traditional industrial apps and overcome unsolved industrial challenges.
SUPCON, founded in 1999, is a prominent global provider of intelligent manufacturing solutions for process industries. The company is committed to the development and application of AI technology through the integration of advanced products and extensive industry know-how. With a global customer exceeding 30,000, SUPCON’s products address all needs across over 50 countries and regions, encompassing sectors like oil & gas, refinery & petrochemical, chemical, etc. Aiming at high-quality and sustainable development, SUPCON is on the way to facilitate the automation and intelligentization of the global process industry.
In 2023, SUPCON’s core products, the Distributed Control System (DCS) and the Safety Instrumented System (SIS), both claimed the top market share position in China, achieving respective figures of 37.8% and 33.7%. Notably, the DCS has maintained the No.1 position for a consecutive 13th year.
View original content:https://www.prnewswire.co.uk/news-releases/supcon-unveils-groundbreaking-products-in-june-including-the-worlds-first-ucs-302125406.html
Artificial Intelligence
Automation Anywhere Appoints Tim McDonough as Chief Marketing Officer to Drive Global Awareness and Growth for the Leader in AI-Powered Automation
SAN JOSE, Calif., April 23, 2024 /PRNewswire/ — Automation Anywhere, a leader in AI-powered automation solutions, announced that AI marketing leader Tim McDonough joined the company as chief marketing officer (CMO). McDonough, who brings more than two decades of experience in driving growth across startups and Fortune 100 companies, will shape and lead Automation Anywhere’s global brand and growth strategies and go-to-market functions.
McDonough joins Automation Anywhere from Intel, where he recently served as vice president and CMO of AI and data centers. McDonough oversaw the transformation of the $14 billion-plus business unit, while guiding the company’s strategy and positioning in the AI market.
“Tim joins us at an incredible time in our journey as we experience a new phase of growth ignited by the transformative benefits of our generative AI process automation models that are transforming our customers’ businesses,” said Mihir Shukla, CEO, Automation Anywhere. “Tim’s impressive experience will be instrumental in our efforts to empower organizations to achieve amazing results by automating more than forty percent of workflows and tasks, and saving millions, even billions, of dollars.”
Prior to Intel, McDonough held executive roles at leading technology companies, including Unity Technologies, Qualcomm, and Microsoft. McDonough’s track record of enterprise and C-suite marketing spans developed and emerging technologies, including AI tools, applications, software-as-a-service (SaaS) solutions, and developer ecosystems.
“I’m looking forward to helping lead Automation Anywhere through its next phase growth as it helps companies transform their business,” said McDonough. “Seeing how customers are innovating with Automation Anywhere’s platform demonstrated to me the incredible market opportunity we have. When you combine automation with generative AI, customers can now go beyond task or departmental impact and automate at an enterprise level, empowering companies and employees to do their very best work.”
McDonough’s appointment comes at a time of remarkable opportunity for the company, marked by Automation Anywhere’s recent record-breaking fourth-quarter performance, continued profitability, and strong outlook in its current fiscal year. Last quarter, Automation Anywhere reported 50 percent growth in large enterprise deals from the previous quarter, highlighting the company’s momentum and strong market position.
About Automation Anywhere
Automation Anywhere is the leader in AI-powered process automation that puts AI to work across organizations. The company’s Automation Success Platform is powered with generative AI and offers process discovery, RPA, end-to-end process orchestration, document processing, and analytics, with a security and governance-first approach. Automation Anywhere empowers organizations worldwide to unleash productivity gains, drive innovation, improve customer service, and accelerate business growth. The company is guided by its vision to fuel the future of work by unleashing human potential through AI automation. Learn more at http://www.automationanywhere.com/.
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View original content:https://www.prnewswire.co.uk/news-releases/automation-anywhere-appoints-tim-mcdonough-as-chief-marketing-officer-to-drive-global-awareness-and-growth-for-the-leader-in-ai-powered-automation-302125158.html
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