Artificial Intelligence
Edge Computing Market – Growth, Trends, COVID-19 Impact, and Forecasts (2022 – 2027)
New York, June 13, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Edge Computing Market – Growth, Trends, COVID-19 Impact, and Forecasts (2022 – 2027)” – https://www.reportlinker.com/p06062848/?utm_source=GNW
Key Highlights
Enterprises across industries are beginning to drive new levels of performance and productivity by deploying different technological innovations, like sensors and other data-producing and collecting devices, along with analysis tools. Traditionally, data management and analysis are performed in the cloud or data centers. However, the scenario seems to be changing with the increasing penetration of network-related technologies and initiatives, such as smart manufacturing and smart cities.
Although the adoption is presently not common, over the forecast period, some large enterprises, especially across industries, such as telecom and manufacturing, are expected to use edge computing, especially in relation to IoT.
As enterprises are embracing these new technologies, the need to analyze important data in near real-time became more critical to take full benefit of the adopted technologies. The need became vital across many industries, including manufacturing, healthcare, telecommunications, and finance. Moreover, the explosion of data (according to SharesPost, more than 150 zettabytes (150 trillion gigabytes) of data is estimated to be generated by 2025) has been pushing the need further and made factors, like network latency, very critical.
Furthermore, the development of processing-intensive applications involving artificial intelligence, IoT, and machine learning (ML), which work on larger data sets and perform massive algorithmic parallelism on models (to improve business operations), has promoted the demand for localized compute, data storage, and network resources. Therefore, along with IoT and IIoT, the adoption of AI and ML is also driving the growth of edge computing.
Distributing data across a large network containing numerous devices and data centers operating from enterprise locations can create problems with network visibility and control, with each device representing another potential endpoint, especially in the IoT network framework. Other devices that use edge have similar problems, and loopholes in edge security can provide hackers easy access to the core network.
The COVID-19 pandemic accelerated a global digital transformation that was already underway. The progress that might have taken more than five years has leaped forward significantly in a year.
Key Market Trends
Industrial Sector to Account For the Largest Market Share
One of the most prominent edge computing use cases is in the industrial manufacturing sector, where new technologies could potentially lead to massive productivity gains. Edge computing facilitates localized processing, which helps reduce latency issues and enables smart and intelligent manufacturing through predictive analytics. With the increase in IoT deployment, manufacturing companies have been rapidly adopting edge computing to enhance interoperability among IoT devices, reduce unforeseen downtime issues, and improve production efficiency.
Edge computing framework significantly reduces the complexity of interconnected systems, making it easier to collect and analyze data in real-time. It can also allow devices to gather critical information in remote sites where network connectivity is inconsistent or not cost-effective. Edge devices can be IoT-enabled machines, gateways, sensors, or single-board computers.
Data can be gathered and analyzed locally, with only critical information being transmitted back to the central network when connections are possible. The combination of edge computing and industrial IoT devices would make it easier to streamline industrial processes, optimize supply chains, and create the “smart” factory.
Edge computing forms the framework of the machine learning (ML) network that makes automatic manufacturing driven by robotics possible. According to IFR, the operational stock of industrial robots was around 3 million units in 2020. Considering an increase in the use of artificial intelligence, automation software will be providing a way for companies to produce more products without increasing production costs or wages.
Robots gathering and transmitting data through an edge network using IoT devices can identify irregularities and eliminate inefficiencies much more quickly than they could through the cloud-based architecture. The distributed nature of such a system also makes it much more robust, ensuring better levels of uptime productivity.
Industrial manufacturing is witnessing a revolution, owing to the potential of edge computing. Combined with a new generation of smart IoT edge devices, edge computing applications would completely transform manufacturing in the coming decades to drive better efficiency and productivity while also controlling costs. This is expected to impact the market’s growth positively over the forecast period.
North America Accounts For the Largest Market Share
The United States is expected to be the first market to adopt 5G widely, and the country has the highest ROI in the telecom industry. Due to regulatory concerns, the US government has delayed the auction of the 5G spectrum, due to which edge computing did not grow at the pace that was expected.
Enterprises across industries have expressed interest in edge computing, and the adoption has begun in the past few years. For instance, Dropbox, file storage, and sharing company have developed its edge network to deliver better connectivity and faster file access for its customers. The company shifted to edge computing to enhance its service capabilities to customers, especially outside of the United States. Post the transition to the edge; the company reported that some users had seen sync speeds by as much as 300%.
Autonomous cars are already in use across the United States. For instance, Google’s Waymo reached its 20-million-mile mark of fully autonomous driving on public roads by January 2020. Currently, most fully autonomous vehicles are in their testing phase.
In March 2022, Federal vehicle safety regulators cleared the way for the production and deployment of driverless vehicles that do not include manual controls such as steering wheels or pedals.
Canada is known to be an early adopter of new technologies. Most new technologies at present are data intensive. They create, process, and transfer large amounts of data, due to which the current infrastructure, consisting of data centers and the cloud, is inching toward its maximum capacity.
With the amount of new data generated and used at present, these infrastructures won’t support the needs of their customers. Of all the parameters involved, latency will be the most crucial factor for the business.
In June 2021, Bell Canada signed a contract with Amazon Web Services (AWS) to deploy cloud connectivity edge computing and storage solutions. It is Canada’s first operator to adopt multi-access edge computing (MEC) on 5G networks.
Competitive Landscape
The competitive rivalry in the Edge Computing Market among the existing players is high and increasing, considering the inflow of new entrants. Currently, the market is dominated by cloud-based IoT vendors, such as Dell, Microsoft, Amazon, Google, etc. Companies like GE, which have the expertise of delivering edge computing solutions across different industries, including aerospace or manufacturing, also have significant market positions. Acquisitions, partnerships with industry participants, and new product/service rollouts have been the key competitive strategies exhibited by the vendors in the market. Some of the recent developments in the market are:
March 2022 – FogHorn collaborated with IBM to provide a secured and open next-generation hybrid cloud platform with advanced, closed-loop system control capabilities and edge-powered artificial intelligence (AI). By bringing together edge and cloud capabilities, FogHorn and IBM plan to help customers rapidly process, deploy, analyze, store, and train critical data from the edge to the cloud and enhance their business processes.
February 2022 – Microsoft and AT&T collaborated for the development of AT&T Private 5G Edge. The companies aim to develop simple, smart, and flexible Private 5G Networks for schools, businesses, and organizations.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
Read the full report: https://www.reportlinker.com/p06062848/?utm_source=GNW
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need – instantly, in one place.
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Artificial Intelligence
Enghouse Video Partners With SONIFI Health To Deliver Advanced Telehealth Solutions In Hospital Rooms
MARKHAM, ON, April 25, 2024 /PRNewswire/ — Enghouse Video, a global leader in cutting-edge video technology solutions, today announced its partnership with SONIFI Health, enhancing virtual care in hospital settings.
SONIFI Health is a leading U.S. healthcare technology company based in Sioux Falls, South Dakota. The new partnership leverages and integrates Enghouse Video room systems technology to support SONIFI Health’s commitment to expanding telehealth applications and system optimizations in hospital settings.
Enghouse’s VidyoRooms solution, a sophisticated video conferencing technology that combines both software and hardware solutions, has been fully integrated into SONIFI Health’s interactive TV systems. This integration provides up to 4K high-quality video conferencing, multi-party sessions and robust security features that ensure full compliance with healthcare regulations.
Enghouse Video offers an immersive telehealth platform to support collaborative interdisciplinary care, improved patient outcomes and cost savings. The platform is flexible and simple, delivering the reliability, interoperability, and scalability needed for today’s healthcare environment. A key strength of the partnership is its offering of back-end integrations like patient portals, medical devices, EMR, tele-sitting, remote patient observation and consultation.
“Hospitals can choose the telehealth partner that’s right for them, and we incorporate that solution with interactive TV,” said Brian Nido, SONIFI Health’s Vice President of Customer Success. “Using the hardware and systems they already have in patient rooms helps hospitals reduce costs and maximize the value of their existing investments, while benefiting both clinicians and patients.”
SONIFI Health and Enghouse Video continue to collaborate closely to further refine and enhance the telehealth solutions provided to healthcare facilities. This partnership reflects a shared commitment to leveraging technology to create smarter hospital rooms and improve patient care across the healthcare spectrum.
About Enghouse VideoEnghouse Video, part of the Enghouse Interactive division, is a subsidiary of Enghouse Systems Limited, a vertically focused software and services company traded on the Toronto Stock Exchange (TSX: ENGH). Through highly secure, scalable and flexible Cloud-based or On Prem services, we deliver one of the world’s highest quality and most innovative video platform to video-enable any application or idea. From advanced video conferencing and collaboration tools to state-of-art enterprise video management, Enghouse Video is a unique player in multiple markets, including telehealth. Learn more at www.enghousevideo.com, read our blog, or follow us on Twitter at @EnghouseVideo, on LinkedIn, and on Facebook.
About SONIFI HealthSONIFI Health provides market-leading interactive patient engagement technology proven to improve patient outcomes and staff productivity. The EHR-integrated platform is designed to enhance patient and family experiences while increasing staff satisfaction and organizations’ operational efficiencies. As part of SONIFI Solutions, Inc., the company annually supports more than 300 million end user experiences. Learn more at sonifihealth.com.
Enghouse Video Contact: Sylvain Awad, Director, Demand Generation, Enghouse Video, part of Enghouse Interactive Division, [email protected]
View original content:https://www.prnewswire.co.uk/news-releases/enghouse-video-partners-with-sonifi-health-to-deliver-advanced-telehealth-solutions-in-hospital-rooms-302126882.html
Artificial Intelligence
Global Insurance Provider Selects 3CLogic to Streamline AI and Contact Center Capabilities with ServiceNow
Multinational Insurance Broker to deploy 3CLogic’s solution with ServiceNow’s Financial Service Operations (FSO) platform to streamline customer experiences.
ROCKVILLE, Md., April 25, 2024 /PRNewswire/ — 3CLogic, the leading Conversational AI and Contact Center solution for ServiceNow®, today announced its selection by a global insurance provider to replace its existing contact center infrastructure as part of a larger CX transformation effort. The strategic decision is designed to complement the organization’s use of ServiviceNow’s Financial Services Operations (FSO) offering leveraged across a number of its existing product lines including Customer Warranty Claims, Roadside Assistance, and Home Warranties.
Serving millions of customers worldwide with innovative insurance and protective products, the organization required a solution that would enhance its recent investment in the ServiceNow platform as it works to transform its end-to-end customer service operations. The deployment will incorporate several of 3CLogic’s AI-powered capabilities purpose-built for ServiceNow, including Conversational AI, Speech Analytics, and AI Performance & Coaching, along with integrated call transcriptions, convenient 2-way SMS, and ServiceNow-centralized contact center reporting.
“We continue to see enterprises eager to complement their existing investment in digital platforms, such as ServiceNow, with contact center features purpose-built to extend the workflows and features they already have and use,” explains Matt Durkin, VP of Global Sales at 3CLogic. “It’s no secret that organizations are already juggling too many systems, often with overlapping capabilities, which impacts ROI and operational efficiency. We’re proud to offer an alternative approach that helps simplify the technology stack while optimizing the overall operational costs and outcomes.”
Recently named to Constellation Research’s 2024 Shortlist for Digital Customer Service and Support, 3CLogic has seen global adoption of its solution by leading enterprises in healthcare, manufacturing, travel, retail, higher education, finance, non-profits, and Managed Service Providers across five continents. As a ServiceNow-certified Technology and Build partner with offerings available for ServiceNow’s IT Service Management, Customer Workflows, HR Service Delivery, and Source-to-Pay solutions, the company will be unveiling its latest set of capabilities at ServiceNow’s annual Knowledge 2024 event this May in Las Vegas.
For more information, please contact [email protected].
About 3CLogic3CLogic transforms customer and employee experiences with its leading Cloud Contact Center and AI solutions purpose-built to enhance today’s leading CRM and Customer Service Management platforms. Globally available and leveraged by the world’s leading brands, its offerings empower enterprise organizations with innovative features such as intelligent self-service, generative and Conversational AI, agent automation & coaching, and AI-powered sentiment analytics – all designed to lower operational costs, maximize ROI, and optimize each interaction across IT Service Desks, Customer Support, Sales or HR Services teams. For more information, please visit www.3clogic.com.
Logo – https://mma.prnewswire.com/media/2318845/3CLogic_logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/global-insurance-provider-selects-3clogic-to-streamline-ai-and-contact-center-capabilities-with-servicenow-302127739.html
Leading Breast AI Company, creator of industry-leading Transpara®, promotes from within for new CEO
NIJMEGEN, Netherlands, April 25, 2024 /PRNewswire/ — ScreenPoint Medical, today announced a significant transition in its leadership as Mark Koeniguer, the current CEO, steps down from his position. Mark served as CEO since 2022 and was instrumental in ScreenPoint’s commercial growth and success over the past 2 years.
The company’s Board of Directors has appointed Pieter Kroese as the new Chief Executive Officer effective April 25, 2024. Pieter takes the role after serving as COO of ScreenPoint for over five years. During that time, he has managed the transition of the company from an early startup to a thriving enterprise with hundreds of customers using ScreenPoint’s flagship Transpara software to support millions of scans a year.
“I am thrilled to lead ScreenPoint into its next phase of growth and innovation,” said Mr. Kroese. “I am deeply committed to building upon the strong foundation we have and continuing to work closely with our talented team to drive continued success. We are already expanding screening capacity and capability through proven reader support – we look forward to increasing our ability to support providers and women moving forward.”
Sir Michael Brady, Chairman of the Board at ScreenPoint Medical and a co-founder of the company, expressed enthusiasm about Pieter’s appointment, stating, “Pieter’s remarkable leadership qualities, coupled with his depth of knowledge of our product and industry, make him the perfect choice to lead ScreenPoint into the future. His strategic mindset and commitment to excellence align perfectly with our company mission of early breast cancer detection. Pieter has been an integral part of our growth to date and will provide seamless leadership through this transition into our next chapter for our customers, partners, and team.”
Author of “No Longer Radical” and over a hundred peer-reviewed publications on breast imaging, Dr. Rachel Brem is a Transpara user and ScreenPoint Board Member. Dr. Brem welcomed Mr. Kroese with the following: “Pieter has been an integral part of the ScreenPoint team for years. I am confident that his leadership will continue to deliver product excellence: earlier detection with outstanding reading workflow and improved patient outcomes. We continue to see these results from clinical sites all over the world, including many here in the United States. No other Breast AI solution has demonstrated the same results as Transpara, and I am confident that the team will continue to push on these frontiers under Pieter’s leadership.”
The entire team at ScreenPoint extends its gratitude to Mark Koeniguer and wishes him every success in the future, while warmly welcoming Pieter Kroese into his new role as CEO.
About ScreenPoint Medical
ScreenPoint Medical translates cutting edge machine learning research into technology accessible by radiologists to improve screening workflow, decision confidence and breast cancer risk assessment. Transpara is trusted by radiologists globally because it has been developed by experts in machine learning and image analysis and updated with user feedback from world-renowned breast imagers.
See all the proof at: https://screenpoint-medical.com/evidence.
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View original content:https://www.prnewswire.co.uk/news-releases/screenpoint-medical-leadership-transition-pieter-kroese-confirmed-as-ceo-302127719.html
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