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Global Smart Television and Set-Top Box Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)

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New York, Feb. 07, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Global Smart Television and Set-Top Box Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)” – https://www.reportlinker.com/p06227806/?utm_source=GNW
Key Highlights
The television industry is witnessing a spike in growth due to the various technological advancements and the growing adoption of smart home technologies across the world. Vendors across the globe are making significant innovations to their products to cater to customer needs and market requirements.
The government regulations mandating the installation of set-top boxes, deployment of open OS-based devices by STB vendors, and analog switch-off transition in emerging countries are further driving the demand of the STB market.
For instance, the Government of India has made STBs compulsory through an amendment to the Cable Television Networks (Regulation) Act. Set-top boxes provide a better viewing experience because of digital signals and help in preventing illegal channels from being broadcasted in India.
The demand for better picture resolution, in line with the increase in the sales of high-definition TVs, is also pushing the growth of the market for the set-top box, which delivers HD and UHD content. However, the Consumer Technology Association (CTA) predicted that television shipments in the United States would drop 8% to 43 million units in 2021, according to its latest “Tech Trends to Watch” research.
The COVID-19 pandemic led to lockdowns imposed by the government to curb the spread of the virus. The lockdown imposed across countries has affected the supply chains of various telecom service providers. In September 2021, Airtel DTH arm announced plans to stop imports of high-definition set-top boxes by the end of 2021 to tackle the COVID-19 induced supply chain disruption and make locally-developed set-top boxes. Tata Sky, Airtel’s major competitor, partnered with Technicolor for the domestic production of set-top boxes in India.

Key Market Trends

High levels of technological innovations to drive the market

The adoption of Artificial Intelligence in set-top boxes has been increasing, as it helps in enhancing the picture quality of STB devices. In October 2021, SK Broadband announced the launch of AI Sound Max. This set-top box combines the lasted artificial intelligence with the audio technology from Danish luxury audio company Bang & Olufsen.
Furthermore, AI technology improves the voice functions for complex applications and helps in improving customer experience. There has been the introduction of new voice technologies to navigate content.
Specifically, the Android set-top boxes come with many applications related to gaming, OTT platforms, and music. These heavy applications need a processor, which ensures smooth running, improving the engagement of viewers.
There is a strong demand for an Android TV set-top box, as it offers better picture quality and sound quality, along with access to streaming content. In August 2021, Sumitomo Electric announced that its BS4K*1 set-top box powered by Android TV exceeded a cumulative domestic shipment of one million units in May 2021. According to the company, the sales were influenced by the pandemic.
In October 2021, the Czech Republic-based media platform provider nangu.TV unveiled a new 4K UHD Android TV Operator Tier set-top box. The company partnered with Orange Slovensko, CommScope, and Viaccess Orca. It recently launched in Slovakia and gave Orange customers a live and on-demand streaming entertainment experience.

Asia Pacific Account for Largest growing Market

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The Asia Pacific region is one of the prominent regions when it comes to subscription video on demand (SVOD) subscribers. According to the data published by Digital TV Research, the Asia Pacific region is anticipated to have 698 million SVOD subscriptions by 2026. This figure is up by almost 39% from 2021 levels, where the SVOD subscriptions stood at 502 million. Moreover, countries such as China are expected to significantly contribute to SVOD subscriptions, with 354 million subscriptions by 2026. Therefore, the rising SVOD subscriptions, coupled with the growing inclination toward large-screen displays, are anticipated to propel the market’s growth over the forecast period.
In January 2022, Sony Electronics announced the launch of the BRAVIA XR television series, which includes MASTER Series Z9K 8K and X95K 4K Mini LED models, MASTER Series A90K, MASTER Series A95K, A80K 4K OLED models, and X90K 4K LED model. Powered by Cognitive Processor XR, the unique XR Backlight Master Drive precisely controls with its latest generation Mini LED backlight in the Z9K and X95K series for incredible brightness. These innovations enable the company to deliver the best and most immersive viewing experiences, authentically delivering the creator’s true intent. Moreover, according to one of the company’s representatives in the Asia Pacific region, the company is committed to offering an enhanced viewing experience to the viewers.
Over-the-top (OTT) video has hit critical mass across various regions globally, and the Asia Pacific is no exception. The global pandemic has augmented existing digital consumption trends, propelling OTT from a niche offering into the mainstream. Asia Pacific is already home to a diverse ecosystem of local, regional, and global OTT players offering a variety of subscription and ad-funded access models with a vibrant mix of local and international content — and there’s massive growth ahead as the ecosystem continues to evolve.
According to the Indian arm of Netflix, India is one of the most promising countries in the world, with more than 200 million potential TV households and still underpenetrated. Smart televisions have become more affordable over the past couple of years and represent most new TVs sold. Moreover, according to the company, Indian people love connecting to the internet and streaming their favorite films and series on demand. Also, the company witnesses an ever-growing need among audiences to watch Netflix on a smart TV, at home, with their family. Therefore, the positive outlook of such renowned companies towards the Indian market represents the expanding market growth of smart TVs in the country.
According to the data released by the Telecom Regulatory Authority of India (TRAI), Cable and direct-to-home television service providers ceded ground to streaming services during the pandemic as Netflix, Amazon Prime Video, and AltBalaji reached a significant number of subscribers while the combined user base of cable TV operators and DTH companies declined by 4.1 million in the year through March 2021.
On similar lines, telecom DTH providers are also partnering with OTT players to offer complete entertainment content. In September 2021, Vodafone Idea announced that the telecom industry is undergoing a digital transformation due to the growing consumption of over-the-top (OTT) platforms along with the Internet of Things (IoT) acceleration. The company partnered with local OTT platforms such as Voot Select Sun NXT, among others.

Competitive Landscape

The Smart Television Market is Highly concentrated due to the high initial investments and few dominant players in the market. Some of the key players in the market are Samsung, TLC, LG, etc. However, the set-top box market is fragmented due to the presence of multiple players and regional providers. Some recent development in the market includes:

February 2021 – LG Electronics announced the global rollout of its 2021 TVs. The new line-up features new OLED, QNED Mini LED, and NanoCell TVs. The range of screen sizes begins from 43 inches to 88 inches. LG’s 2021 OLED TV technology is featured in the Z1, G1, C1, B1, and A1 series. All models in the G1 series feature the new OLED Evo technology that the company claims delivers better luminosity for higher brightness. The C1 series offers the most screen size options, starting with the 48-inch up till 83-inch.
November 2021 – The Australian TV operator Foxtel partnered with Commscope to launch its new iQ5 streaming set-top box. The iQ5 STB offers over 50,000 hours of content in 4K UHD. Its stacked design features a detachable 1TB hard drive and access to streaming apps including Netflix, YouTube, ABC iView, SBS On Demand, Amazon Prime, Vevo, and coming soon to the Foxtel platform, Paramount+, and 10Play. Commscope has provided Foxtel with a fully managed service to design, develop, and deploy its flagship set-top box software for iQ5. It also leans on Commscope’s ECO Service Management Solutions for device automation.

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Read the full report: https://www.reportlinker.com/p06227806/?utm_source=GNW

About Reportlinker
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Artificial Intelligence

Vehere’s AI Network Security at GITEX Global 2024: A Catalyst for Middle East’s Digital Transformation

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DUBAI, UAE, Oct. 7, 2024 /PRNewswire/ — Vehere is set to participate in GITEX Global 2024, the largest and best-rated technology event in the world, from October 14–18, 2024, in Dubai. As a global cybersecurity company aiming to conquer new heights, Vehere will showcase its AI Network Security technology, which acts as a “Second Line of Defense” to protect corporate networks from the most advanced cyberthreats.

Vehere AI Network Security is a unified solution of Network Detection & Response (NDR) and Network Forensics (NF). Vehere NDR detects abnormal system behaviors by leveraging behavioral analytics/AI-ML. It detects and contains post-breach activity such as ransomware, APTs, insider threats, or lateral movements. Vehere NF supports security incident response and investigation of the source of an incident, analyses and reconstructs attack timelines, and provides evidence for legal proceedings.
Vehere AI Network Security stands out as the top choice for enterprise security due to its key differentiators:
Monitoring both East-West & North-South trafficsLossless Packet CaptureBehaviour-based Application DetectionUltraHunt 2 million IOCsRetrospective Breach DetectionFlexible DeploymentAvinash Garg, Vice President – Sales MEA of Vehere, said, “GITEX Global is an event of monumental magnitude where attendees will gain an understanding of Vehere AI Network Security, a technology built for empowering organizations to safeguard their critical assets and maintain business continuity by proactively identifying and neutralizing threats.
Also, the Middle East region is undergoing a significant digital transformation, and Vehere is committed to supporting organizations in this process. As businesses in the Middle East accelerate their digitalization efforts, our technology provides a path to modernization that promotes economic growth, operational efficiency, and security.”
In line with its participation, Vehere will offer live demonstrations, insights into product offerings, and the opportunity to interact with its experts to explore customized solutions.
Catch Vehere at GITEX Global, India Pavilion: H23-C17D, World Trade Center, Dubai. Register with us and get free passes to visit the biggest tech show in the world.
About Vehere:
Vehere is a revolutionary cybersecurity software company specializing in AI Cyber Network Intelligence. For more than a decade, Vehere has been supporting counter-terrorism analysts in Defense and Intelligence communities. Vehere is now trusted by cyber-analysts in Fortune 500 companies, including Telecom, Financial Institutions, and Smart Cities to protect their critical infrastructure against real-time cyberattacks.
Vehere. HUNT BEFORE BREACH™
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Zinnov estimates Digital and Engineering R&D Spends will surge 1.4X to touch USD 3 Trillion by 2027

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NEW YORK, Oct. 7, 2024 /PRNewswire/ — Global Management Consulting firm, Zinnov, released its industry-leading study on Enterprise Digital Engineering spends today. Zinnov shared that Digital Engineering spends remain strong, even in a potential recessionary period, having now stabilized at USD 1,032 Bn, at a 13% CAGR. Despite macro-economic headwinds such as inflation, geopolitical tensions, recession, and supply chain disruptions, investments in Digital Engineering are on an upswing, spurred by CXOs prioritizing operational efficiency, cost reduction, and the adoption of advanced technologies including AI, analytics platforms, automation tools, and IOT devices.  

Zinnov’s analysis reveals that Enterprise Digital Engineering spends will reach USD 1,654 Bn by 2027, owing to the unrelenting pace of technological innovation. The study, Digital Engineering report 2023, is a benchmark for business leaders across verticals that helps them identify strong partners for rapid and efficient deployment of Digital Engineering-led services initiatives across geographies.
ER&D investments in Europe showed resilience and grew by 9.5% in 2023, the highest since 2020. This increased ER&D spend is primarily driven by sectors such as Aerospace & Defense, Pharmaceuticals, and Industrial. Meanwhile, North America’s ER&D spend slowed due to inflation control measures, geopolitical pressures, and shifting demand patterns, despite traditionally being a leader. This has impacted industry investments, large deals, and talent sourcing. Interestingly, APAC’s ER&D spends exceeded expectations with a ~3% growth rate in late 2023, with China contributing over 10% of the global ER&D spend. Much of this spend from APAC is being channeled towards AI/ML, Robotics, Additive Manufacturing, Automation Tools, 5G, and Smart Manufacturing.
Hi-tech-led verticals continue to be the biggest contributors to the overall Digital Engineering spend at 55%, followed by Services-led verticals and Manufacturing-led verticals. The Software & Internet vertical continues to account for the lion’s share of the overall Digital Engineering spend at USD 424 Bn, fueled by a massive 425% increase in AI investments since 2020. Co-investments, partnerships, and co-innovation are the primary business models that Tech Giants and Hyperscalers are leveraging to optimize their AI investments.
Digital Priorities of Enterprises
Even though the enterprises’ digital priorities are evolving, a few key themes are emerging. Zinnov analyzed the top 2000 enterprise ER&D spenders and identified the following themes that they are channeling investments towards.  
Generative AI: Generative AI is upending industries and economies at breakneck speed by enhancing customer experience, optimizing business operations, improving productivity, and providing personalization. Its applications have expanded beyond content generation, enabling enterprises to automate workflows, enhance efficiencies, and accelerate data-driven decision-making. Automotive and Industrial verticals are early adopters of Generative AI-led efficiencies, while adoption in Healthcare, BFSI, Media & Tech verticals is slow due to stringent regulations. Interestingly, enterprises across verticals are leveraging Generative AI to save costs, that they are reinvesting in core and/or transformational initiatives including infrastructure development, offerings enhancement, customer support, model (LLM/SLM) development and integration, and Generative QA.
Cybersecurity: Cybersecurity remains a top priority across verticals. Financial institutions are investing heavily in AI-powered threat detection and Zero Trust frameworks to combat increasingly sophisticated cyberattacks. In Healthcare, Cybersecurity is vital for protecting sensitive patient data amid rising threats to digital health records and IOT-connected medical devices. Critical infrastructure, including energy and telecommunications, relies on robust Cybersecurity to prevent disruptions and ensure operational continuity. As cyber threats evolve, companies across verticals will continue to strengthen their defenses, integrating advanced solutions to safeguard their systems and data.
Cloud: Hyperscalers continue to dominate the global Cloud landscape, with the demand for Cloud Computing surging across verticals. This rapid growth in the market is driven by the need for scalable, secure, and cost-efficient infrastructure to support AI, Machine Learning, and Data Analytics initiatives. Hyperscalers such as AWS, Azure, and Google Cloud are increasingly playing a pivotal role, not only in providing core Cloud infrastructure, but also in offering advanced Cloud-native services that cater to vertical-specific challenges. Enterprises are leveraging hyperscalers to drive digital transformation initiatives by adopting hybrid and multi-Cloud strategies to optimize performance, ensure scalability, and accelerate innovation. As more industries transition to the Cloud, hyperscalers will remain critical drivers of enterprise modernization and growth.
Sustainability: Sustainability is driving significant investments from enterprises in 2024. Organizations are focusing on green technologies, renewable energy, and eco-friendly business practices to reduce their carbon footprints. In fact, between 2018 and 2023, the proportion of green talent increased by an average of 5.4% annually, while the proportion of job postings that required at least one green skill rose by 9.2% per year. From adopting energy-efficient data centers to integrating circular economy models, sustainability initiatives are increasingly shaping corporate strategies. Enterprises are not only aiming to meet regulatory requirements but also enhancing brand reputation to align with consumer demands for environmentally responsible practices.
Speaking about the study, Sidhant Rastogi, President – Strategy Business at Zinnov, stated, “In today’s hyper-digital world, technology is not just an enabler but has transformed the very fabric of modern life, reshaping every interaction, experience, and expectation. It has redefined the baseline of what good customer experience is. As the global landscape faces unprecedented challenges, the need for businesses to anticipate and innovate ahead of customer needs has never been more critical – all underpinned by technology.”
Rastogi further added, “Digital Engineering is at the forefront of this transformation, with global spends projected to surge to USD 1.65 Trillion in the next 3 years, driven by rapid advancements in AI, Cloud, IOT, and Cybersecurity. This growth is not just a trend; it’s an essential evolution fueled by interconnected ecosystems that bring together diverse expertise from across verticals – Automotive, Aerospace, Healthcare, and Semiconductor. This convergence is unlocking new frontiers in engineering, empowering businesses to not only navigate disruption but to turn it into opportunity.”
Zinnov’s Assessment of ER&D Service Providers
As part of the Digital Engineering study, Zinnov evaluated ~60 Global ER&D Service Providers for its annual Zinnov Zones ER&D and Digital Engineering ratings. The ratings encompass a comprehensive analysis of Service Providers’ capabilities across six horizontals, seven verticals, and three micro-verticals. It also includes a geographic evaluation of high-spending regions like the US and Europe, focusing on key factors such as investments, client success, and delivery capabilities in Engineering services.
Zinnov evaluated the Global ER&D Service Providers across the following areas:
Overall
Overall ER&D ZonesER&D Zones – Small and Medium Service ProvidersHorizontals
Digital EngineeringDigital Engineering – Small and Medium Service ProvidersData & AI EngineeringData & AI Engineering – Small and Medium Service ProvidersExperience EngineeringExperience Engineering – Small and Medium Service ProvidersIndustry 4.0Generative AIOverall Hyperscaler ServicesHyperscaler Services (AWS) – Top 10 SPsHyperscaler Services (Microsoft Azure) – Top 10 SPsHyperscaler Services (Google Cloud) – Top 10 SPsVerticals: Automotive, Aerospace, Consumer Software, Enterprise Software, Industrial, Semiconductor, Telecommunications
Micro-verticals: Software Platform Engineering, Medical Devices, and Electrification
Service Providers evaluated: Accenture, ACL Digital, Accion Labs, Akkodis, Alten, Apexon, Ascendion, AVL, Bertrandt, Birlasoft, Bristlecone, Capgemini Engineering, Caresoft Global, Cigniti, Cognizant, Cyient, Daffodil Software, EDAG, eInfochips, Encora, Expleo Group, FEV, Global Logic, Gopherslab, GS Lab|GAVS, Happiest Minds, HARMAN DTS, HCLTech, Hitachi Digital Services, IAV, Ignitarium, Indium, Infovision, Itransition, KPIT, LTTS, Marlabs, Mphasis, Ness Digital Engineering, Onward Group, Persistent Systems, Sasken, Softdel, Tata Elxsi, Tata Technologies, TCS, Tech Mahindra, TO THE NEW, Trigent, UST Global, VVDN Technologies, Wipro, Xoriant
*Z2000 represents Top 2000 global ER&D spenders across 20+ verticals.
About Zinnov Zones
Zinnov Zones is an annual rating published by Zinnov which assesses Global Service Providers based on their competencies, capabilities, and market success. Since 2009, Zinnov Zones (previously known as GSPR – Global Service Provider Ratings) has become one of the most trusted reports globally, for both enterprises and Service Providers to better understand the vendor ecosystem across multiple domains such as Digital Transformation, ER&D Services, IOT, Intelligent Automation, and Media & Entertainment.
This is the fifteenth consecutive year that Zinnov has assessed Service Providers for their ER&D capabilities. The detailed ratings and contact information of Service Providers are available at: https://zinnovzones.com/ratings/e-r-and-d-and-digital-engineering-services/overall/2024
About Zinnov
Founded in 2002, Zinnov is a global management and strategy consulting firm, with presence in New York, Santa Clara, Houston, Seattle, Bangalore, Gurgaon, Pune, Hyderabad, and Paris. Over the past 22 years, Zinnov has successfully consulted with over 250+ Fortune 500 enterprises to develop actionable insights to help them accelerate their technology journeys to create value – across dimensions of revenue, transformation, and optimization. With core expertise in Digital Engineering Talent, Digital Transformation, Innovation, and Outsourcing Advisory, Zinnov assists clients by:
Enabling global companies to develop and optimize a global engineering talent footprint through center setups and accelerators – in an as-a-service model, as well as optimizing their global portfolios, to achieve higher R&D efficiencies, innovation, and productivity;Advising global PE firms in asset shortlisting and target evaluation, commercial due diligence, and value creation;Growing revenue for companies’ products and services in newer markets through account intelligence, market entry, and market expansion advisory;Helping global companies outline and drive their open innovation programs, design and operate accelerator programs, and enable collaboration with start-ups across specific use cases and predefined outcomes;Structuring and implementing Digital Transformation levers enabled by technologies like AI/ML, Intelligent Automation, Cloud, IOT, etc.With their team of experienced consultants, subject matter experts, and research professionals, Zinnov serves clients from across multiple industry verticals including Enterprise Software, BFSI, Healthcare, Automotive, Retail, and Telecom in the US, Europe, Japan, and India. For more information, visit http://www.zinnov.com.
Media contact Nitika GoelChief Marketing Officer, [email protected]
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IFS strengthens Executive Board with CIO and CHRO appointments

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Helena Nimmo appointed CIO and Debra McCowan appointed CHRO to fuel IFS’s next phase of growth in pioneering and dominating Industrial AI
LONDON, Oct. 7, 2024 /PRNewswire/ — IFS, the leading provider of enterprise cloud and Industrial AI software, has made two senior appointments to its Executive Board. Helena Nimmo joins as global Chief Information Officer (CIO) and Debra McCowan as Chief Human Resources Officer (CHRO).

Nimmo joins from Endava, a US-listed global technology company with over 12,000 employees. As CIO at IFS, Nimmo will engage CIOs and tech leaders at IFS customers to help them with their strategic transformation journeys, as well as driving the effective application of technology within IFS to deliver better products and services to customers. With IFS leading the adoption of Industrial AI across the world, Nimmo will drive the integration of AI across the IFS community, enabling IFS customers to deliver exceptional moments of service to their clients.
McCowan was CHRO at NetApp, Inc., a Fortune 500 global data infrastructure, AI and cloud services company. In this board level role, McCowan was a strategic partner and advisor to the CEO and executive leadership team. As IFS rapidly grows beyond 7,000 employees in over 90 countries, McCowan will build on the HR transformation strategy IFS has already embarked on, to lead a high-performing global team, delivering progressive HR strategies and initiatives to rapidly grow and scale IFS’s footprint.
“I’m delighted that Helena and Debra are joining IFS at such a pivotal point in its growth journey,” said Mark Moffat IFS CEO. “Helena’s leadership has been instrumental in orchestrating company-wide transformations, developing core technology infrastructures, and implementing robust security measures. Debra is a transformational Human Resources executive with years of global leadership experience in the technology sector, making her an excellent fit for this role. I look forward to the new perspectives and ideas they will both bring to IFS and support our global mission to lead the Industrial AI revolution.”
Nimmo started her career at Nokia in Finland and has since held leadership positions in both customer-facing and internal technology functions at organizations including Symbian, Fujitsu and Thomson Reuters.
“I’m delighted to be joining IFS, the world leader in cloud enterprise software and Industrial AI,” said Nimmo, IFS’s CIO. “I am excited to add my expertise to drive digital innovation and deliver exceptional value to our customers. I have a passion for technology and a commitment to excellence and am eager to contribute to IFS’s continued growth and success.”
Prior to NetApp, McCowan was the CHRO at Equinix the world’s leading global data center and interconnection provider. She has held global executive leadership roles at Avago Technologies (now Broadcom Inc.), Hitachi Data Systems (now Hitachi Vantara), and Telstra Corporation.
“Joining IFS at a time of significant growth globally is a tremendous opportunity,” said Debra McGowan, IFS CHRO. “My mission is to continue to build a conducive environment for diverse, strategically aligned high performing teams to connect and thrive in a fast-paced business and in a dynamic workplace. I look forward to this exciting challenge.”
About IFS
IFS is the world’s leading provider of Industrial AI and enterprise software for hardcore businesses that make, service, and power our planet. Our technology enables businesses which manufacture goods, maintain complex assets, and manage service-focused operations to unlock the transformative power of Industrial AI™ to enhance productivity, efficiency, and sustainability.
IFS Cloud is a fully composable AI-powered platform, designed for ultimate flexibility and adaptability to our customers’ specific requirements and business evolution. It spans the needs of Enterprise Resource Planning (ERP), Enterprise Asset Management (EAM), Supply Chain Management (SCM), Information Technology Service Management (ITSM), and Field Service Management (FSM). IFS technology leverages AI, machine learning, real-time data and analytics to empower our customers to make informed strategic decisions and excel at their Moment of Service™.
IFS was founded in 1983 by five university friends who pitched a tent outside our first customer’s site to ensure they would be available 24/7 and the needs of the customer would come first. Since then, IFS has grown into a global leader with over 7,000 employees in 90+ countries. Driven by those foundational values of agility, customer-centricity, and trust, IFS is recognized worldwide for delivering value and supporting strategic transformations. We are the most recommended supplier in our sector. Visit ifs.com to learn why.
Contact information:EUROPE / MEA / APJ:Adam GillbeEmail: [email protected] 
NORTH AMERICA / LATAM:Mairi MorganEmail: [email protected] 
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