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Li-Fi Market Projected to Hit USD 2311.7 Million, at a CAGR of 37.5% by 2030 – Report by Market Research Future (MRFR)

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New York, US, July 05, 2022 (GLOBE NEWSWIRE) — According to a comprehensive research report by Market Research Future (MRFR), “Li-Fi Market Analysis by Component (Image Sensor, Visible Light Diode), By Application (Location Based Service, Indoor Applications, Outdoor Applications), By Vertical (Transportation, Automotive, Defense, Healthcare) – Forecast 2030” valuation is poised to reach USD 2311.7 Million by 2030, registering an 37.5% CAGR throughout the forecast period (2020–2030). 

Li-Fi Market Overview

The increasing use of LED lights in light fidelity owing to its easy obtainability, low-slung price, extensive life span, and fewer energy consumption will offer robust opportunities for the market over the forecast period.

Li-Fi Market Report Scope:

Report Metric Details
  Market Size USD 2311.7 Million by 2030
  CAGR 37.5% From 
  Base Year 2019
  Forecast Period 2020-2030
  Historical Data 2018
  Forecast Units Value (USD Million)
  Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered Component, Application and Region
  Geographies Covered North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors General Electric Company (U.S.), Toshiba Corporation (Japan), NEC Corporation (Japan), Samsung Electronics Co. Ltd. (South Korea), fSONA Networks (Canada), Nitto Denko Corporation (Japan), Panasonic Corporation (Japan), Casio Computer Co. Ltd.(Japan), Qualcomm Inc. (U.S.), Fujitsu Ltd. (Japan)
  Key Market Opportunities Increasing Use of LED Lights in Light Fidelity to offer Robust Opportunities
  Key Market Drivers Developments in Retail Sector to Boost Visible Light Communication Market Growth

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Drivers 
Developments in Retail Sector to Boost Market Growth 
The developments in the retail sector will boost market growth over the forecast period. Retail firms are moving beyond the traditional ways of giving customers with a shopping experience by using visible light communications (VLC). They may now alert customers using VLC technology, as the technology assists them in delivering accurate and timely findings. Retailers are eager to take use of the potential of VLC as they prepare to combat the growing popularity of online retail.

Lack of Technological Awareness to act as Market Restraint 
The lack of technological awareness and high repair & installation cost may act as market restraints over the forecast period. 

Competing Technologies to act as Market Challenge 
Competing technologies and lack of infrastructure for wireless technology especially in emerging countries may act as market challenges over the forecast period. 

Li-Fi Market Segments

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The global visible light communication/Li-Fi market is bifurcated based on vertical, application, and component.

By component, the Light Fidelity market is segmented into visible light diode and image sensor.

By application, the visible light communication market is segmented into outdoor applications, indoor applications, and location based service.

By vertical, transportation will lead the market over the forecast period.

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Li-Fi Market Regional Analysis 

North America to Spearhead Li-Fi Market 
Due to surge in investment in R&D in innovative technical solutions like sustainable energy projects, artificial intelligence, and big data analytics, North America is the most important market for VLC. Telus Corp, BCE Inc.’s Bell Mobility, and Rogers Communications Inc. are investing extensively in R&D operations in VLC, as well as 5G technologies, in order to improve their market share among wireless and internet service providers in the region. Li-Fi technology installation is predicted to strengthen the US economy, assist in economic growth, & offer job possibilities. The US is the first country to deploy 5G wireless networks, making it a worldwide test bed for the LTE apps and services. Because data transmission governs all key sectors in the US, including the government sector, the lighting industry is embracing new ground-breaking commercial potential through VLC. Furthermore, government initiatives like “Gigabit Communities,” which aims to make the United States one of the world’s most high-capacity and super-fast broadband networks, boost VLC adoption.

The increase can be ascribed to expanding data traffic and communication system adoption, as well as the accessibility of advanced infrastructure. Overuse of the RF spectrum has increased data traffic, opening up new growth opportunities for VLC communication systems. The region’s major providers are heavily spending in R&D projects in VLC and 5G technologies, boosting their market share amid wireless and online service providers. Furthermore, increased LED use in the US is fuelling market growth.

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APAC to Have Favorable Growth in Li-Fi Market 

By 2025, APAC had the biggest share of the VLC market. During the forecast period, the VLC market in APAC is predicted to develop at the fastest rate. Factors boosting the market in APAC include expanding manufacturing facilities, upgraded infrastructure, and a developing computer-aided design (CAD) industry. The APAC region is also predicted to be the fastest-growing market for VLC throughout the forecast period, thanks to recent breakthroughs and rising expenditure on the VLC-related R&D activities. End-user industries including automotive, consumer electronics, and aerospace and defence, and are also expected to provide significant prospects for VLC or Li-Fi solution suppliers. Because of increased awareness among smartphone users, the VLC market in the APAC region is expected to grow significantly. By 2024, the region is predicted to contribute for about 30% of total revenue. The presence of significant firms is projected to boost demand in this area. The increase in LED installations in industrial & commercial environments can be ascribed to regional growth trends. Vehicle taillights and headlights, & traffic signal lights, are gradually being replaced by LEDs. The aforementioned characteristics, as well as the growing use of location-based services, will have a beneficial impact on the regional VLC market outlook. 

COVID-19 Analysis 
The COVID-19 pandemic has wreaked havoc on the economy in a number of ways. Its focus has likewise shifted to a digital economy. The Covid-19 influenced the visible light communication (VLC) market positively. As wireless communication technologies advance and network infrastructure providers spend heavily in Li-Fi technology. 

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Visible Light Communication Market Competitive Analysis

Dominant Key Players on Light Fidelity Market Covered are:

  •  General Electric Company (U.S.)
  •  Toshiba Corporation (Japan)
  •  NEC Corporation (Japan)
  •  Samsung Electronics Co. Ltd. (South Korea)
  •  fSONA Networks (Canada)
  •  Nitto Denko Corporation (Japan)
  •  Panasonic Corporation (Japan)
  •  Casio Computer Co. Ltd.(Japan)
  •  Qualcomm Inc. (U.S.)
  •  Fujitsu Ltd. (Japan)

The market is both competitive along with being fragmented due to the presence of several important foreign and domestic enterprises. These industry giants have used joint ventures, global expansions, contracts, collaborations, new product releases, partnerships, and other inventive strategies to stay ahead of the competition while also meeting the rising needs of their clients. Furthermore, the players are heavily spending in research and development.

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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.

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Artificial Intelligence

18 of the Top 20 Medtech Companies Partner with Veeva MedTech to Get Devices and Diagnostics to Patients Faster

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More than 125 medtech customers use Veeva applications for seamless execution across product development
BARCELONA, Spain, Oct. 2, 2024 /PRNewswire/ — Veeva Systems (NYSE: VEEV) today announced that 18 of the top 20 medtech companies leverage Veeva Development Cloud and Veeva Commercial Cloud applications to streamline processes across the total medtech product lifecycle. Veeva MedTech enables more than 125 customers with deep industry expertise and technology from ideation to commercialization. With an increasing need to keep up with industry changes for faster time to market, medtech companies are moving to connected applications on a single cloud platform to execute key processes more efficiently.

“With dozens of studies across hundreds of global sites, simplifying clinical operations with unified document management and streamlined workflows is a top priority,” said Matt Christensen, senior vice president at Smith+Nephew. “Using Veeva MedTech’s unified clinical solution drives transparency, ensures integrity of study files, and speeds trial timelines.”
Veeva MedTech enables end-to-end product lifecycle management with Veeva Vault Clinical, Veeva Vault RIM, Veeva Vault Quality, and Veeva Vault Commercial. Using advanced applications built with medtech industry best practices, customers can access real-time insights to make data-driven decisions, automate processes, and maintain inspection readiness. This reduces manual work and improves cross-team collaboration while driving growth, cost efficiency, and compliance.
“This momentum shows that the global medtech industry has made great strides in modernizing systems, establishing a foundation across the product lifecycle to leverage into the future,” said Seth Goldenberg, vice president, Veeva MedTech. “With the top medtech leaders standardizing on Veeva applications, we will continue to learn and advance the industry toward more streamlined processes to deliver innovative new devices and diagnostics to patients in need.”
More than 200 industry professionals will network, share best practices, and hear valuable insights from medtech leaders, including Bio-Rad Laboratories, Philips, and ZEISS Medical Technology, at Veeva MedTech EU Summit. Medtech industry professionals can register for the Nov. 5 – 7 event in Amsterdam.
About Veeva SystemsVeeva is the global leader in cloud software for the life sciences industry. Committed to innovation, product excellence, and customer success, Veeva serves more than 1,000 customers, ranging from the world’s largest biopharmaceutical companies to emerging biotechs. As a Public Benefit Corporation, Veeva is committed to balancing the interests of all stakeholders, including customers, employees, shareholders, and the industries it serves. For more information, visit veeva.com/eu.
Veeva Forward-looking StatementsThis release contains forward-looking statements regarding Veeva’s products and services and the expected results or benefits from use of our products and services. These statements are based on our current expectations. Actual results could differ materially from those provided in this release and we have no obligation to update such statements. There are numerous risks that have the potential to negatively impact our results, including the risks and uncertainties disclosed in our filing on Form 10-Q for the period ended July 31, 2024, which you can find here (a summary of risks which may impact our business can be found on pages 36 and 37), and in our subsequent SEC filings, which you can access at sec.gov.
Contact:
Jeremy WhittakerVeeva [email protected]
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Cybersecurity is fastest growing IT occupation in the UK, reveals Socura report

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But skills gap persists with just one security professional for every 86 companies
CARDIFF, Wales, Oct. 2, 2024 /PRNewswire/ — Socura, a UK-based cybersecurity services business that protects many of the nation’s biggest NHS trusts, councils, and private companies, has released its UK cybersecurity careers 2024 report, ‘Their next job was in cyber’. 

The report is released four years after the UK government’s infamous ‘Fatima’ ballet ad promoting cyber as a career option. Based on Office of National Statistics data, it reveals that cybersecurity is now the fastest growing tech occupation in the UK, with the number of people in cyber roles more than doubling (128%) between 2021 and 2024. Despite this growth rate, there are not yet enough cybersecurity professionals to tackle the growing threat to UK businesses, with only one security pro for every 86 companies. 
Other key findings of Socura’s report include: 
There are 4,600 more women in cybersecurity roles in 2024 compared to 2021. However, the percentage of women in cybersecurity roles has decreased and now stands at 17%, down from 24%. London is less of a hub for cybersecurity professionals than it is for other IT professionals. 25% of all IT workers are based in London, compared to 17% of cyber workers.Northern Ireland and Wales are the countries in the UK with the fewest cybersecurity professionals. “Cybersecurity may be the fastest growing IT occupation in the UK but the skills shortage in the industry remains a concern,” said Andy Kays, CEO at Socura. “Many businesses simply do not have the specialists they need to defend against cyber attacks.  
“To fix this problem at a national level, we need more initiatives like the NCSC-backed Academic Centres of Excellence and ways to reach even younger people so that they can discover technology in schools. For organisations struggling to recruit cybersecurity experts, finding a trusted managed services partner to bolster capabilities and ease the load remains vital to bridging the gap.” 
“Attracting more workers, particularly women, into cyber remains a key challenge for the industry,” said Dr Kathryn Jones, Head of School, Computer Science and Informatics at Cardiff University. ”However, gender imbalance and the low representation of women is a wider issue in the tech sector, not only cybersecurity. The number of women enrolled on computer science and software engineering courses, for example, is typically also low.  
“Cybersecurity is an exciting and varied career choice but more initiatives like the NCSC’s Cyber First Girls competition are needed to raise awareness.” 
Resources 
Read summary blogDownload full report Methodology Socura’s analysis is based on UK ONS annual population survey data, which tracks occupation figures based on 15 IT-related Standard Occupational Classification (SOC2020) codes such as 2135 cybersecurity professionals. The ONS annual population is a continuous survey that consists of 12 months of survey data, which is broken down and released on a quarterly basis. 
About Socura Socura reduces cyber risk by proactively detecting and responding to threats, 24/7. Our Managed Detection and Response (MDR) service operates as an extension of an organisation’s security team – supplying highly skilled SOC experts and the additional capabilities needed to scale security operations and accelerate response to attacks. 
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Euromonitor International launches Passport AI – a gamechanger for the data analysis industry

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Passport AI will leverage the power of generative AI to transform the way our clients’ access and use market intelligencePassport AI’s impressive features, combining cutting-edge artificial intelligence with human intelligence, will ensure fast and easy access to the Passport platform Paradigm shift solution utilises a powerful combination of technologies and approachesLONDON, Oct. 2, 2024 /PRNewswire/ — Euromonitor International has today launched Passport AI – a game changer for the data analysis industry.

Passport AI is specially designed to supercharge the power of data analytics firm Euromonitor International’s market intelligence expertise. The platform will leverage the power of generative AI to transform the way clients are able to access and use Euromonitor’s market intelligence.
Euromonitor’s Passport AI utilises a powerful combination of technologies and approaches: 
Large Language Models (LLMs): These powerful AI models are trained on massive amounts of text data. Passport AI leverages LLMs to understand your natural language questions and identify relevant information within our extensive content library.Retrieval Augmented Generation (RAG): This approach ensures Passport AI stays grounded in fact-based information. Instead of creating entirely new responses, RAG retrieves and summarises relevant content from trusted Euromonitor publications. This allows clients to verify the source of the information and feel confident in its reliability. Multi-Agent System (MAS): This innovative system acts behind the scenes, working like a team of virtual researchers. MAS helps Passport AI refine your question and identify the most relevant information across our content, even with terminology specific to Passport or newly introduced natural language search. Combining cutting-edge artificial intelligence with human intelligence
Lamine Lahouasnia, Director of Generative AI at Euromonitor International, said: “We are already the first destination for organisations seeking growth and Passport AI’s impressive features, combining cutting-edge artificial intelligence with human intelligence, will ensure fast and easy access to our Passport product and our data analytics.
“Unlike other generative AI tools, the information provided by Passport AI is 100% sourced from Euromonitor’s trusted content. This transparency allows users to interrogate the underlying sources and have complete confidence in the credibility of the answers they receive.”
Tim Kitchin, CEO of Euromonitor International, said: “This significant investment in Passport AI underscores our dedication to client empowerment and demonstrates our commitment to continuous product improvement. We believe Passport AI will help clients derive even more value from the intelligence they already have access to within Passport, make the most of opportunities our insights uncover and achieve greater success.”
For more information about Passport AI book a demo.

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