Artificial Intelligence
Global Hearing Aids Market to Offers More than $16.53 billion opportunity Thanks to 470 million People Suffering from Hearing Loss
Westford, USA, June 23, 2022 (GLOBE NEWSWIRE) — The global hearing aid market is primarily driven by several factors, including aging, noise exposure, and ear infections. Interestingly, the prevalence of hearing loss varies substantially among different countries. For example, about one-third of Japanese people have hearing loss, but only about 8% of Americans do. The most common cause of hearing loss is age-related decay (also known as presbycusis), which is the gradual reduction in the ability to hear sound over time. Other causes of hearing loss include exposure to noise, ear infections, and certain drugs.
5% of the Global Population is Affected by Hearing Loss and the Number is Gradually Increasing and Giving Impetus to Hearing Aids Market
Hearing loss is a problem that affects millions of people worldwide. The prevalence of hearing loss has been increasing over the last few decades, and it affect over 5% of the global population, WHO. In 2020, more than 432 million adults and 34 million children suffered from hearing loss. However, only 17% people used the hearing aids. It has been observed that preventable causes are the prominent factors responsible for causing hearing loss in 60% of these children. Interestingly, statistics suggests that low- and middle-income countries are the most susceptible to hearing loss across the global hearing aids market.
There is an estimated 50 million people living with hearing loss in the US alone, out of which more than 38 million are over 18 years old. That’s about one in five people. And it’s not just old folks who are affected-hearing loss affects people of all ages, races, and genders. One problem with hearing loss is that it’s often gradual, so people don’t always know they have it.
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Current Trends in the Hearing Aids Market
The hearing aids market is constantly evolving as new technologies and devices are released. Here are some of the current trends in the hearing aids market:
1. Smartphones and Hearing Aids: Currently, the market is also flooded with a range of Bluetooth hearing aids. Patients increasingly use smartphones to access information and listen to music. This has led to an increase in the use of hearing aids that work with smartphones. In addition, many companies are developing apps that allow people to access hearing aids remotely.
2. Assistive Listening Technology: Assistive listening technology is a recent development in the hearing aids market. This technology uses sound waves to send information directly to the cochlea, which helps people with impaired hearing understand speech. Some assistive listening devices also have noise-cancelling features.
3. Augmented Reality Hearing Aids: Augmented reality (AR) is a technology that uses digital images and sounds to create a virtual environment. Some hearing aids are designed to include AR capabilities so patients can see what someone is saying while they are wearing the hearing aid. AR hearing aids also allow patients to hear environmental sounds such as rain or thunder.
4. Voice Activated Hearing Aids: Voice activated hearing aids allow people to control their hearing aids using voice commands. This can be helpful for people who have difficulty using traditional hearing aids.
Smart Hearing Aids Soon to Become the Future of Hearing Market
Smart hearing aids are relatively new technology, but they have quickly gained popularity because they offer several unique features that make them more comprehensive and user-friendly than traditional hearing aids. One of the key benefits of smart hearing aids is their ability to track and monitor users’ speech patterns. This means that the device can recognize when the users are speaking clearly and when they are having difficulty hearing.
Another factor that makes smart hearing aids popular is their ability to connect with other devices and platforms. This means that you can use the devices to access online resources and communicate with others through voice commands or text messages.
In addition to these benefits, smart hearing aids are also affordable compared to traditional Hearing Aids. As technology continues to evolve, there will be more affordable options available for those who are looking for advanced hearing technology. Recent advances in artificial intelligence (AI) and sensor technology are helping hearing aids manufacturers to create smarter hearing aids that can identify specific sounds and provide feedback accordingly. This helps to improve speech recognition and comprehension. Furthermore, manufacturers are also working on developing new modes of operation such as chatbots that can interact with users to provide assistance and guidance on how to use the device effectively. For instance, researchers of the Collaborative Research Centre (CRC) Hearing Acoustics at University of Oldenburg have developed a smart hearing aid that can make use of AI to personalize the users’ environment as per need.
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Canal Hearing Market is Rapidly Expanding for All the Good Reasons
Canal hearing aids are designed to provide a more natural sound experience by compensating for environmental noise. They offer a discreet, comfortable and affordable alternative to traditional hearing aids. The canal hearing aids market is expected to grow at a CAGR of 8.5% from 2021 to 2028 because they are often more affordable than other types of hearing aids as well as are more comfortable to use. They also provide better sound quality than traditional hearing aids.
The canal hearing aids market is dominated by the elderly population who are more likely to experience hearing loss. In 2013, the average age of an individual who uses a hearing aid was 71 years old. This is primarily due to the fact that many people do not realize they have hearing loss until it is too late. The elderly population is also more likely to have chronic diseases such as diabetes, which might lead to hearing loss.
The major consumers of canal hearing aids are typically older adults who have experienced hearing loss from other causes, such as age-related ear infections or loud noise exposure. These individuals often need assistance with everyday tasks, such as communicating and listening in noisy environments. Canal hearing aids can be a valuable resource for these individuals, helping them to continue living independently and participating in activities they enjoy.
Global hearing aids market is flooded with a variety of canal hearing aids that come in a variety of styles and sizes, and they can be custom-made to fit each individual’s needs. Some people choose canal hearing aids over traditional ear plugs or cochlear implants because they find them more comfortable and easier to use. There are a number of factors that can affect the performance of a canal hearing aid, including the type of canal used, the size and shape of the hearing aid, and the user’s ear canal anatomy.
People are Aging, World is Changing, Hearing Aids are Improving
It’s no secret that the world is changing. We’re living longer, our populations are becoming more diverse, and technology is constantly evolving. All of these factors are having an impact on how we hear. Hearing aids have come a long way since their inception over 50 years ago. Modern hearing aids are becoming more and more sophisticated, and the cost is decreasing. The technology used in modern hearing aids has improved so much that they can even be used to treat other medical conditions like tinnitus and hyperacusis. In the US alone, at least 10% population suffer from tinnitus that lasts up to 5 minutes.
As people age, their hearing abilities change. For example, older adults may experience difficulty hearing in the high-frequency ranges (above 1,000 hertz). In addition, noise exposure can cause hearing loss in both young and old adults. Fortunately, advances in hearing aids technology have made a big difference in the lives of those who are deaf or hard of hearing. Today’s hearing aids can magnify sound up to 20 times, so older adults can still enjoy activities they once enjoyed but with increased clarity. And because modern hearing aids are wireless, they can be used in any environment – even when there’s background noise.
Hearing aids are also getting better all the time. One popular type of hearing aid is called a cochlear implant. This implant directly helps the auditory nerve regenerate and function better. Bone anchored hearing aids market has seen tremendous development in the last few years and the cost of the devices has also come down significantly. On the other hand, cochlear implants are often the best option for children and young adults who have severe to profound deafness that has not improved with other forms of treatment such as lip reading or sign language interpreting. However, Cochlear implants are expensive and not always covered by insurance. They can cost up to $30,000. However, there are many ways to cover the cost of a cochlear implant. Medicaid may be able to help pay for the implant. Some people also receive financial assistance from the government or private insurance companies. People with cochlear implants can also work around the costs by using special listening software and devices.
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Paediatrics are the Most Vulnerable Population to Suffer Hearing Loss in India and China
The growth of the India and China hearing aids market is attributed to the increasing awareness about the benefits of using hearing aids and the increased demand from the aging population. It is also supported by increased investment in new technology and development of innovative products. In India, the market for hearing aids was worth over $367 million in 2021. The growth of the Indian market is attributed to the rising population aged 50 years and above, as well as increasing usage of electronic devices such as smartphones and tablets among this age group. In China, the market for hearing aids was worth $589 million in 2021. The growth of the Chinese market is attributed to the increasing population aged 50 years and above, as well as rising usage of electronic devices such as smartphones and tablets among this age group.
The hearing aids market in India is expected to grow at a CAGR of 7.5% over the next five years, making it one of the most promising markets in the world. Factors such as increasing incidences of age-related hearing loss, growing number of people with hearing impairment, and rising demand from the government and private sector are expected to propel the growth of the Indian hearing aids market. In 2021, more than 63 million people were suffering from hearing loss, which represents around 6.3% of the population. According a recent study by NSSO, around 291 people per 100,000 are more likely to have some of kind of severe to profound auditory impairment in the country. Wherein, children under 14 years old are holding a large market share. In order to bring down the prevalence the Indian government has implemented numerous services and scheme. For instance, the government is spreading awareness through IEC activities, developing capacities across district government hospitals, providing rehabilitation facilities, and manpower training and development.
China is also expected to be a major player in the global hearing aids market. The market is projected to grow at a CAGR of 7.9% over the next seven years, making it the fastest-growing hearing aids markets in the world. Factors such as increasing incidence of age-related hearing loss and increasing number of people with hearing impairment are expected to drive the growth of the Chinese hearing aids market.
Currently, China has over 50 million people aged over 65 years old. The country is offering a huge growth opportunity for hearing aids market as more than 70% people in China having hearing loss problem do not use any kind of hearing aids due to numerous factors such as unawareness about available treatments and medical devices, high cost of the hearing aids, unwillingness to opt for the treatment, among others. Sonova, one of the leading players in China hearing aids market is planning to target paediatric population as they feel paediatric category is their potential customers and a little push by the company can improve the market revenue by a great extent. In line with this, the company has opened 15 new brick and mortar stores in 2021 in China
Top Players in Hearing Aids Market
- Sonova Group (Switzerland)
- Demant A/S (Denmark)
- GN Store Nord A/S (Denmark)
- Cochlear Ltd. (Australia)
- Starkey (US)
- Nurotron Biotechnology Co., Ltd. (China)
- MED-EL (Austria)
- Audina Hearing Instruments, Inc. (US)
- Horentek (Italy)
- ZOUNDS Hearing Inc. (US)
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Artificial Intelligence
Titans of Tech: GP Bullhound releases its annual report on the European tech ecosystem
LONDON, May 24, 2024 /PRNewswire/ — Titans of Tech: Unrivalled era of A.I. led innovation for European Tech – No more excuses. GP Bullhound is proud to announce the release of its Titans of Tech 2024 report. For the tenth year in a row, GP Bullhound has released its annual Titans of Tech report, highlighting and analysing the growth trends in Europe’s tech ecosystem. This comprehensive analysis underscores the resilience and growth of Europe’s tech sector, setting the stage for a new era of innovation and investment.
Key takeaways from our report include:
The funding frenzy is over, but the new normal is very healthy: Funding levels have normalised, averaging €15Bn per quarter over the last year, which is ~50% higher than 2019.The value of the ecosystem is growing despite the failures: 14 new unicorns were created in the last 12 months. Europe and Israel now have 323 unicorns, up from 311 a year ago and 283 the year before. The ecosystem’s total valuation has grown to $1.2Tr, an ~11x increase in billion-dollar companies and a ~14x increase in aggregate valuation since our first report in 2014.Megarounds are fewer but larger and still accessible: Access to capital rounds exceeding $50 million has tightened, but investors remain interested in supporting innovators. The deal count dropped 68% over the last two years due to a focus on profitability and conservative planning. Only 17% of European unicorns raised capital in 2023, as 93% had already raised funds during the 2021-2022 bull market.Software innovation continues, shaping the way we live and work: Despite funding challenges, technological developments, especially in artificial intelligence, continue to drive automation and cost savings. European AI companies received over €11Bn in funding in the last year, with 36% of new unicorns being AI/ML businesses.Category leaders and geographies: This year, the UK and France lead the startup arena with three unicorns each. The UK’s unicorns are valued at $3.4Bn, with significant contributions from AI leaders Synthesia and Builder.ai. France’s trio reaches a collective valuation of $7Bn, highlighted by innovators like Mistral AI. Germany, Israel, and the Netherlands each added two unicorns, while Sweden and Italy added one unicorn each.Europe’s most promising startups: GP Bullhound has analysed more than 100 European startups for scale, velocity, and sentiment, and ranked the top 50 companies with the most potential to become one-billion-dollar companies. The top 10 include Agicap, Brevo, Typeform, Homa, AMBOSS, Akeneo, Form3, Flo Health, Aidoc, and ConnexOne.Manish Madhvani, Managing Partner at GP Bullhound, said: “After ten years of issuing our Titans of Tech report, we have witnessed the highs and lows of the European tech ecosystem. A year ago, the situation was less encouraging for the fundraising environment, with macro uncertainty and with businesses more focused on layoffs than on growth and innovation.
Today, against the backdrop of negative headlines, we have cemented the building blocks for the next wave of innovation. Funding levels have stabilised, and are amazingly 50% higher than pre bull market levels. With Europe’s maturing base of engineering talent and the world’s fascination in its potential productivity gains, artificial intelligence offers a unique opportunity to create global leaders in record time. There is no shortage of funding for the best entrepreneurs and companies, as evidenced by the record $220m seed round for Paris based H announced this week. What was noticeable about the round was the range of the investor syndicate : from strategics such as Amazon, Samsung and UI Path, household names such as Bernard Arnault, Eric Schmidt and Xavier Niel, and leading VC’s.Looking ahead, we expect the next few years to represent an era of unprecedented innovation in the European ecosystem. Innovation is flowing, vast amounts of capital are available for the strong and the talent pool is expanding. No more excuses Europe!”
Expert interviewsWhat does it take to build a billion-dollar company? What are the critical success factors for European tech? How to remain resilient in a challenging market and benefit from economic downturns? This year’s report features expert views from leading founders and CEOs, including Synthesia, Quantexa, SEON, Flo Health, Zappi and CoverManager.
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EnquiriesFor enquiries, please contact: [email protected]
About GP BullhoundGP Bullhound is a leading technology advisory and investment firm, providing transaction advice and capital to the world’s best entrepreneurs and founders. Founded in 1999 in London and Menlo Park, the firm today has 12 offices spanning Europe, the US and Asia. For more information, please visit www.gpbullhound.com.
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Artificial Intelligence
Bybit Web3 Announces Upcoming IDO for Aperture Finance, Simplifying Web3 Finance
DUBAI, UAE, May 24, 2024 /PRNewswire/ — Bybit Web3, the Web3 division of Bybit – one of the top three global crypto exchanges by trading volume, today announced an upcoming Initial DEX Offering (IDO) for Aperture Finance ($APTR) on its Web3 platform.
“Bybit Web3 is thrilled to be partnering with Aperture Finance to bring their innovative IDO to our platform,” said Emily Bao, Bybit Web3 Evangelist. “Aperture Finance’s AI-powered solutions have the potential to revolutionize DeFi by simplifying complex transactions and making Web3 finance more accessible to a wider audience. We believe this IDO will be a great opportunity for our users to get involved in this groundbreaking project early on.”
Aperture Finance: Simplifying the complexities of Web3 finance
Aperture Finance is a pioneer in AI-powered intents. Featuring an IntentsGPT interface and an AI-driven smart solver simulation, Aperture’s solver network significantly reduces barriers for DeFi users and enhances transaction efficiency.
IDO Details
IDO Subscription Period: May 24, 2024, 10AM UTC to May 28, 2024, 10AM UTCSnap Period: May 28, 2024, 10AM UTC to May 31, 2024, 10AM UTCReveal and Purchase Period: May 31, 2024, 10:15AM UTC to June 1, 2024, 10AM UTCListing Date: May 31, 2024, 10AM UTCToken Details
Token: APTRTotal Supply: 1,000,000,000Total Allocated to Bybit IDO: 6,666,667 APTREligibility Requirements
Users must hold a Bybit Wallet with a minimum balance of 300 USDT (Arbitrum Chain) throughout the Snapshot Period to participate in the IDO.Three (3) snapshots will be taken daily during the Snapshot Period.Maximum number of winners: 3,000For detailed information on the IDO process and eligibility requirements, please visit the Bybit Web3 page: https://www.bybit.com/en/web3/ido
#Bybit / #TheCryptoArk / #BybitWeb3
About Bybit Web3
Bybit Web3 is redefining openness in the decentralized world, creating a simpler, open, and equal ecosystem for everyone. We are committed to welcoming builders, creators, and partners in the blockchain space, extending an invitation to both crypto enthusiasts and the curious, with a community of over 1 million wallet users, over 10 major ecosystem partners, and counting.
Bybit Web3 provides a comprehensive suite of Web3 products designed to make accessing, swapping, collecting and growing Web3 assets as open and simple as possible. Our wallets, marketplaces and platforms are all backed by the security and expertise that define Bybit as a top 3 global crypto exchange, trusted by 30 million users globally.
Join the revolution now and open the door to your Web3 future with Bybit.
For more details about Bybit, please visit Bybit Web3.
About Bybit
Bybit is one of the world’s top three crypto exchanges by trading volume with 30 million users. Established in 2018, it offers a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
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Artificial Intelligence
Northern Data Group’s Peak Mining, announces purchase of a second 300MW data center location in Corpus Christi, Texas
The location expands on an adjacent 300MW site, purchased in December 2023 The site comes with an ERCOT-approved interconnect of 300MWConstruction already underway, with long-lead time items secured and energization scheduled for early 2025FRANKFURT, May 24, 2024 /PRNewswire/ — Peak Mining, part of the Northern Data Group, announces the purchase of a second 300MW ERCOT-approved site in Corpus Christi, Texas. The location is adjacent to the 300MW mining facility that is already under construction. The site also provides energy in the attractive low-cost power zone of Load Zone South of the ERCOT grid, known for its abundance of renewable (wind) energy.
The investment represents a significant step forward in Northern Data Group’s investment strategy, cementing expansion plans well beyond the current 2024 financial year.
The new site enables Peak Mining to accelerate its expansion plans to become one of the largest bitcoin miners globally. The company will be deploying indoor, custom-designed, fully-integrated and liquid-cooled HPC data center systems to drastically improve deployment time and infrastructure cost, bringing Peak Mining to a leading position in the industry and preparing it for the future of HPC compute.
Saxet Infrastructure Group (“Saxet”) will act as construction manager for the design, build and energization of the substation. The Saxet team brings a strong track record of project management and deep expertise with the construction of HPC infrastructure.
Niek Beudeker, Managing Director, Peak Mining, commented: “The purchase of this second large site will significantly shorten our time to hashing and kick off one of the fastest mining expansions globally. We now have almost 700MW of sites in active development, that when fully fitted with our latest-generation hardware, could potentially provide up to 40EH of hash rate.”
Aroosh Thillainathan, Northern Data Group’s Chief Executive Officer, commented:”This second data center location demonstrates how Northern Data Group is able to harness the power and opportunity of HPC. Sustainability has been at the core of this further expansion into the US and thanks to the center’s ERCOT approved status, we will be able to scale our operations at speed, as the demand for digital assets continues to grow.”
Steven Quisenberry, Chief Executive Officer at Saxet Infrastructure Group, commented: We are excited to support Northern Data Group’s expansion in the ERCOT market and specifically to welcome them to the Corpus Christi area. The combination of base load industrial demand and significant renewable resources creates a unique opportunity for their portfolio. This is a terrific example of one of the largest, most advanced liquid cooled data centers in North America and we are proud to partner with Northern Data Group to bring their data center online.
Northern Data Group was advised on the transaction by Katten Muchin Rosenman LLP (Legal Counsel) and BitOoda Technologies LLC.
About Peak MiningPeak Mining, part of the Northern Data Group, is powering the future of the blockchain network. We deliver industry-leading operating and energy efficiency in bitcoin mining through the latest hardware alongside innovative technology and infrastructure. With our mining heritage dating back to 2013, we’ve been innovating for over a decade and have been at the forefront of the industry ever since. Our high-quality infrastructure is purpose-built to power the mining network, and we’re driven to continuously find new efficiencies driving value for our investors. We’re delivering long term value in more responsible ways.
About Northern Data GroupNorthern Data Group (ETR: NB2) is a leading provider of High Performance Computing (HPC) solutions to businesses and research institutions, utilizing GPU- and ASIC-based solutions. Our flexible compute power fuels innovation in our three core business divisons: Taiga Cloud, Ardent Data Centers, and Peak Mining. Through our HPC solutions, we pioneer ambitious computing innovation that drives progress in the AI, ML and Generative AI industries. Our close collaboration with industry-leading manufacturers including Gigabyte, AMD, and NVIDIA is fundamental to the acceleration of innovation across sectors including life sciences, financial services, and energy.
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