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Digital Manufacturing Market Size is projected to reach USD 1,370 billion by 2030, growing at a CAGR of 16.5%: Straits Research

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New York, United States, July 25, 2022 (GLOBE NEWSWIRE) — The use of digital technology, such as software and services, in manufacturing industries like automotive, aerospace, and defense is known as “digital manufacturing.” Technologies like asset tracking, fleet management, and machine learning are all part of digital manufacturing. The reduction of waste in manufacturing industries has also decreased accidents and fatalities on industrial sites due to IoT, sensors, BIM software, smart wearables, and RFID monitoring. The digital manufacturing market is expanding due to remote monitoring and data collecting, which has enhanced productivity and optimized financial resources. The digital manufacturing demand is increasing due to the industrial sectors’ adoption of IoT, remote monitoring, and 5G technologies.

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Efficient Safety Management on Manufacturing Sites Propels the Global Digital Manufacturing Market

According to the Occupational Safety and Health Administration (OSHA), a part of the US Department of labor, around 252,000 manufacturing industries in the US employ approximately 6.5 billion people. Fatal injuries in the manufacturing sector are higher than the national average of any other industry in the US. Manufacturing industries are prone to falls, trench collapse, repetitive motion injuries, unavailability of proper protective equipment, and scaffold collapse. Including digital technologies such as IoT and machine learning with smart wearables such as wearable sensors, smart glasses, wearable hero-skeletons, safety vests, and smart helmets enable real-time safety management on sites. 

Moreover, around 83% of contractors are convinced that wearable technologies can boost site safety and thereby reduce fatal injuries on job sites, including fall prevention, which accounts for around 30% of all manufacturing injuries. Therefore, benefits associated with digital technologies such as smart monitoring of hazardous gases, fall prevention, microsleep prevention, and vital sign tracking boost demand for digital technologies in manufacturing sites, which drives the growth of the digital manufacturing market.

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Underlying Market Opportunities Amid Growing Awareness in Emerging Countries

Most developing countries such as India, Brazil, and Russia are more focused on adopting new technologies such as IoT, robots, and BIM to assess knowledge about digital manufacturing industries. Rise in adoption of digital technologies in manufacturing activities, owing to features such as limited repetitive work and human error. New technologies such as 3D scanning, building information modeling, augmented reality, and drones used in construction activities drive the growth of the digital manufacturing market. The rise in government initiatives such as smart advanced manufacturing and rapid transformation hub (SAMARTH), Udyog Bharat 4.0 in India to keep the competition fuels the market’s growth.

Report Scope:

Report Metric Details
  Market Size USD 1,370  Billion by 2030
  CAGR 16.5% (2020-2030)
  Historical Data 2019-2020
  Base Year 2021
  Forecast Period 2022-2030
  Forecast Units Value (USD Billion)
  Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered Component, Technology, Application, and Regions
  Geographies Covered North America, Europe, Asia-Pacific, LAME and Rest of the World
  Key Companies Profiled/Vendors Dassault Systems, Siemens AG, Autodesk Inc, Tata Consultancy Services, Mentor Graphics Corporation, Parametric Technology Corporation Inc, SAP SE, ARAS Corporation, Cogiscan Inc, and Best plant.
  Key Market Opportunities Growing Awareness in Emerging Countries
  Key Market Drivers Efficient Safety Management on Manufacturing Sites

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Regional Insights

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North America holds the highest market share and is estimated to grow at a CAGR of 15.8% during the forecast period. The implementation of the Internet of Things (IoT) and Artificial intelligence (AI) in the manufacturing sectors such as automotive & transportation fuels the growth of the digital manufacturing market. Furthermore, the regional market is likely to grow rapidly with technical development. Overcoming challenges such as poor finish for 3D printing and technical expertise for material handling has also anticipated a rise in automation in the manufacturing industry in the US.

Asia-Pacific is the fastest-growing region. It has the largest manufacturing market globally. The growth of the manufacturing industry is mainly delivered by the rise in per capita income, increasing urbanization, and the high adoption of technologies. Developing nations such as Myanmar, Thailand, the Philippines, and Vietnam are highly committed to improving local infrastructure and manufacturers. In addition, urbanization boosts renovation and reconstruction projects, which, in turn, is expected to increase the demolition industry. Therefore, the use of automation and robotics is anticipated to propel the growth of the Asia-Pacific digital manufacturing market during the forecast period.

Europe is the second-largest region. It is projected to reach USD 372.7 billion by 2030, growing at a CAGR of 16.2%. The high focus of government in Europe on supporting digitization and innovation in the fields of IoT, Big data, Edge computing, and other technologies to transform the value chain promotes the use of digital technologies in manufacturing-related activities. For instance, in June 2020, Parrot, a drone manufacturer, launched a new drone ANAFI USA, which can be used for aerial surveying and 3D mapping for manufacturing purposes.

Key Highlights

  • The global digital manufacturing market was valued at USD 320 billion in 2021. It is expected to reach USD 1,370 billion by 2030, growing at a CAGR of 16.5% during the forecast period (2022–2030).
  • Component-wise, the global digital manufacturing market is segmented into Hardware, Software, and Services. Hardware is the highest shareholder and is estimated to grow at a CAGR of 16% during the forecast period.
  • Technology-wise, the global digital manufacturing market is segmented into robotics, 3D printing, the internet of things (IoT), and others. The Internet of Things (IoT) is the highest shareholder and is estimated to grow at a CAGR of 16.2% during the forecast period.
  • Application-wise, the global digital manufacturing market is segmented into Automation & Transportation, Aerospace & Defense, Consumer Electronics, Industrial Machinery, and Others. The Industrial Machinery application is the highest shareholder and is estimated to grow at a CAGR of 15.5% during the forecast period.
  • Region-wise, the global digital manufacturing market has been analyzed across North America, Asia-Pacific, Europe, and LAMEA. North America is estimated to grow at a CAGR of 15.8% during the forecast period.

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Key players in the global digital manufacturing market are

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Dassault Systems,

Tata Consultancy Services

Siemens AG

Autodesk Inc

Mentor Graphics Corporation

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Parametric Technology Corporation Inc

SAP SE

ARAS Corporation

Cogiscan Inc

Best plant.

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Global Digital Manufacturing Market: Segmentation

By Component

  • Hardware
  • Software
  • Services

By Technology

  • Robotics
  • 3D Printing
  • Internet of things (IoT)
  • Others

By Application

  • Automation & transportation
  • Aerospace & defense
  • Consumer Electronics
  • Industrial Machinery
  • Others

By Regions

  • North America
  • Europe
  • Asia-Pacific
  • LAMEA

TABLE OF CONTENT

  1. Introduction
    1. Market Definition
    2. Market Scope
  2. Research Methodology
    1. Primary Research
    2. Research Methodology
    3. Assumptions & Exclusions
    4. Secondary Data Sources
  3. Market Overview
    1. Report Segmentation & Scope
    2. Value Chain Analysis: Digital Manufacturing Market
    3. Key Market Trends
      1. Drivers
      2. Restraints
      3. Opportunities
    4. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitution
      4. Threat of New Entrants
      5. Competitive Rivalry
    5. Market Share Analysis
  4. Component Overview
    1. Introduction
      1. Market Size & Forecast
    2. Hardware
      1. Market Size & Forecast
    3. Software
      1. Market Size & Forecast
  5. Technology Overview
    1. Introduction
      1. Market Size & Forecast
    2. Robotics
      1. Market Size & Forecast
    3. 3D Printing
      1. Market Size & Forecast
  6. Regional Overview
    1. Introduction
      1. Market Size & Forecast
    2. America
      1. North America
      2. U.S.
        1. By Component
        2. By Technology
      3. Canada
        1. By Component
        2. By Technology
      4. Mexico
        1. By Component
        2. By Technology
      5. Latin America
        1. By Component
        2. By Technology
    3. Europe
      1. Market Size & Forecast
      2. Germany
        1. By Component
        2. By Technology
      3. France
        1. By Component
        2. By Technology
      4. U.K.
        1. By Component
        2. By Technology
      5. Italy
        1. By Component
        2. By Technology
      6. Spain
        1. By Component
        2. By Technology
      7. Rest of Europe
        1. By Component
        2. By Technology
    4. Asia Pacific
      1. Market Size & Forecast
      2. Japan
        1. By Component
        2. By Technology
      3. China
        1. By Component
        2. By Technology
      4. Australia
        1. By Component
        2. By Technology
      5. India
        1. By Component
        2. By Technology
      6. South Korea
        1. By Component
        2. By Technology
      7. Rest of Asia-Pacific
        1. By Component
        2. By Technology
    5. Middle East & Africa
      1. Market Size & Forecast
      2. Saudi Arabia
        1. By Component
        2. By Technology
      3. South Africa
        1. By Component
        2. By Technology
      4. Kuwait
        1. By Component
        2. By Technology
      5. Rest of Middle East & Africa
        1. By Component
        2. By Technology
  7. Company Profile
    1. Dassault Systems
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
    2. Siemens AG
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
    3. Autodesk Inc
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
  8. Conclusion & Recommendation
  9. Acronyms & Abbreviations

Table of Content and Figure @ https://straitsresearch.com/report/digital-manufacturing-market/toc

Market News

  • In June 2022, Tata Consultancy Services launched the TCS Servitization Engine on Oracle Cloud to help customers create subscription-first business models and provide outcome-based solutions with intelligent service capabilities. The engine offers an industry package with bundled combinations of products, services, support, self-service, and a knowledge base that companies can leverage to add value to their core product offerings and robust front-end customer-facing solutions.
  • In June 2022, Tata Consultancy Services was recognized as a Leader in The Forrester Wave: Robotic Process Automation Services, Q2 2022.

News Media:  

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About Straits Research Pvt. Ltd.

StraitsResearch is a market intelligence company providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision-makers. Straits Research Pvt. Ltd. provides actionable market research data, especially designed and presented for decision making and ROI.

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For more information on your target market, please contact us below:

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Artificial Intelligence

How AIoT shapes the future of mobility: Hikvision at ITS World Congress 2024

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HANGZHOU, China, Sept. 27, 2024 /PRNewswire/ — Hikvision made a significant impact at the ITS World Congress in Dubai with its captivating theme, “Embrace AIoT for safer, smarter, and greener mobility.” Its booth became a hub of innovation, where visitors explored AIoT solutions that are reshaping the transportation landscape, sparking deep conversations on the future of urban mobility.

Road safety revolution: harnessing AIoT for secure transportation
Hikvision’s commitment to road safety was on full display at its booth through the impressive array of AIoT solutions designed to create secure and reliable traffic environments. The company’s technology provides 24/7 traffic monitoring, ensuring continuous oversight of motor vehicles, non-motorized vehicles, pedestrians and environmental factors. This comprehensive, real-time information collection enables traffic managers to prevent accidents and enhance road safety. Among the showcased products was the 20 MP IR ANPR Checkpoint Capture Unit, renowned for its high-definition capture capabilities, bolstering traffic safety measures.
A standout innovation was the integration of advanced radar and camera technologies, ensuring uninterrupted, comprehensive detection even in adverse weather conditions. The Radar-Video Fusion Incident Detection Cameras, featured prominently in the product experience area, enable early detection and warning of potential hazards. They are particularly effective in challenging situations such as curved roads, blind spots at intersections, and obstacles beyond visual range.
Attendees also engaged with onboard monitoring products on the simulated bus, including dome network cameras, which is designed to enhance passenger safety. Driving assistance products, such as the Driver Status Monitor (DSM), were demonstrated to mitigate unsafe driving behaviors and ensure safer journeys.
Urban mobility redefined: smart traffic innovations
In the realm of smarter mobility, Hikvision showcased its multidimensional sensing technology, which integrates visible light sensors, infrared sensors, radar, and sonar. This technology expands perception capabilities, significantly improving traffic management and situational awareness. The use of AI-powered comprehensive sensing elevates incident monitoring and violation detection to unprecedented levels of accuracy and efficiency.
A major attraction was the Radar-Video Fusion TandemVu PTZ Camera, which integrates millimeter-wave radar with high-resolution cameras for extensive traffic detection and data analysis. AI-based algorithms combine these two systems to enhance target information, detecting up to 16 types of incidents. This leads to the development of a large-scale fusion model that merges spatial physical data with image semantic information. The result is ultra-long-range perception, achieving over 95% accuracy in vehicle trajectory detection. This robust system improves traffic violation management and optimizes traffic flow, significantly enhancing road efficiency.
At the simulated bus station, visitors observed how AI-assisted people counting automated the collection of passenger flow statistics at peak stop hours and bus line frequency during busy periods. Paired with smart bus stop digital signage, the solution improves bus service quality, operational efficiency, passenger experience, and overall public transport effectiveness.
Sustainable transportation: leading the charge for greener cities
Hikvision’s commitment to sustainable urban mobility was evident through its innovative green wave technology and eco-friendly checkpoint solutions. Green wave technology efficiently manages traffic flow to reduce congestion and lower carbon emissions, aligning with global sustainability goals. Visitors were particularly impressed by a case study showcasing a green wave solution implemented in Zhoushan, China. Over a stretch of 21 kilometers and 34 intersections, this main road cut travel times by 50%.
The use of DarkFighterX technology in checkpoint cameras also received significant attention. This technology senses both visible and invisible light, resulting in more accurate and realistic images. It enhances traffic violation enforcement efficiency while minimizing the need for high ambient light levels, thus reducing light pollution. The 9M DarkfightX ANPR Checkpoint Camera exemplified this dedication to environmental stewardship.
Frank Zhang, President of Hikvision MEA, remarked, “Hikvision supports sustainable urban planning by empowering traffic departments to address congestion and transportation challenges.” He further emphasized, “Our system’s openness fosters a secure and reliable platform for developing smart and green cities. Additionally, our solar technology is extensively utilized in remote areas, while our smart street lighting solutions reduce energy consumption by 20-30%, promoting intelligent urban transportation and advancing global sustainability objectives.”
Hikvision’s presence at the ITS World Congress in Dubai underscored its leadership in integrating AIoT technologies to drive safer, smarter, and greener mobility solutions. The engaging presentations and advanced product demonstrations captured significant attention from industry partners and customers, reaffirming the company’s role as a pioneer in shaping the future of urban transportation. As the world moves towards more intelligent and sustainable transportation systems, Hikvision remains at the forefront, embracing AIoT to create a safer, smarter, and greener future for all.
To find out more about Hikvision’s advanced traffic and public transport solutions, please explore the Hikvision official website.
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Artificial Intelligence

Anti-Drone Market worth $7.05 billion by 2029 – Exclusive Report by MarketsandMarkets™

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DELRAY BEACH, Fla., Sept. 27, 2024 /PRNewswire/ — The global anti-drone market was valued at USD 2.16 billion in 2024 and is projected to reach USD 7.05 billion by 2029; it is expected to register a CAGR of 26.7% during the forecast period according to a new report by MarketsandMarkets™. Increasing government spending on counter-drone technologies, rising incidence of critical infrastructure security breaches by unauthorized drones, and surge in adoption of aerial remote sensing technologies to safeguard critical infrastructure are attributed to the demand for anti-drone.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=177013645
Browse in-depth TOC on “Anti-Drone Market” 178 – Tables61 – Figures253 – Pages
Anti-Drone Market Report Scope:
Report Coverage
Details
Market Revenue in 2024
$ 2.16 billion
Estimated Value by 2029
$ 7.05 billion
Growth Rate
Poised to grow at a CAGR of 26.7%
Market Size Available for
2020–2029
Forecast Period
2024–2029
Forecast Units
Value (USD Million/Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
By System Type, Application, Platform type, Vertical, and Region
Geographies Covered
North America, Europe, Asia Pacific, and Rest of World
Key Market Challenge
Vulnerability to hacking
Key Market Opportunities
Emphasis on improving unmanned aircraft systems technology
Key Market Drivers
Growing number of illicit activities
By System Type: Hybrid systems to account for the larger market share in the forecasted year.
The hybrid segment accounted for the largest share of the anti-drone market in 2029. The trends of integrating multiple anti-drone technologies are rising since they are most effective in detecting, tracking, and neutralizing drone threats. These systems merge electronic, kinetic, and lasers, providing a comprehensive defense solution against UAVs. Hybrid systems use electronic, kinetic, and laser-based countermeasures to offer optimum protection against drones. These systems are designed to detect, track, identify, categorize, and mitigate drones at operational wide ranges ranging from a few km up to tens of km.
By Platform: The ground-based segment accounted for the largest market share in the forecast year.
The ground-based segment will hold a major share of the anti-drone market in 2029. Many ground-based anti-drone systems use several electronic technologies, such as radar, IR sensors, acoustic systems, and RF & GNSS jammers. MESA radar solutions are used mostly for counter-UAS purposes, protecting critical infrastructure, military camps, and other security-sensitive sites from unauthorized drones. One such solution is EchoGuard, a ground-based airspace management solution that contains a software-defined 3D radar that can be specific to the site. This system can identify single or multiple off-chance drones, including swarms in unauthorized areas. They provide accurate and sustained airspace surveillance for the field of view (FOV) they are configured, and both human and AI-monitored visual checks. The system can be easily transported and integrated directly with the command-and-control centers or another identification sensor for portable use, and multiple units of the system can be combined to cover vast areas or lengths of borders. Major providers of ground-based counter-drone systems include companies like EchoDyne Corporation, DeTect, Meteksan Defense, and WhiteFox Defense. Acoustics-based Discovair G2 utilizes patented microphone arrays. With 128 interconnected microphone elements, the Discovair sensor units can establish azimuth and elevation to the target in real-time using advanced digital signal processing.
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By Region: Americas are expected to hold the largest share of the anti-drone market during the forecast period.
Americas is expected to capture the largest share in the anti-drone industry during the forecast period. The growth can be attributed to protecting crucial infrastructure in the region. Governments, particularly in the US, invest in anti-drone systems for military bases, borders, and critical infrastructure. For Instance, in April 2023, RTX secured a USD 237 million contract from the US Army to provide Ku-band Radio Frequency Sensors (KuRFS) and Coyote effectors. These systems are designed to detect and neutralize unmanned aircraft systems (UAS). The contract includes stationary and mobile systems and a specified quantity of effectors, all aimed at enhancing the Army’s operations within the US Central Command region.
Key Players-
The key companies offering anti-drone companies include RTX (US), Lockheed Martin Corporation (US), Leonardo S.p.A. (Italy), Thales (France), and IAI (Israel).
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Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting
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Drone Sensor Market Size, Share, Industry Growth & Trends by Sensor Type, Platform (VTOL Type, Fixed Wing Type, Hybrid Type), Application (Navigation, Collision Detection & Avoidance, Data Acquisition, Motion Detection, Power Monitoring), End Users and Region – Global Forecast to 2029
Smart Agriculture Market Size, Share, Statistics and Industry Growth Analysis Report by Offering (Hardware, Software, Services), Agriculture Type, Farm Size (Large, Medium, Small), Application (Precision Farming, Livestock Monitoring) and Region (America, Europe, Asia Pacific, Row) – Global Forecast to 2028
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact: Mr. Rohan SalgarkarMarketsandMarkets™ INC. 1615 South Congress Ave.Suite 103, Delray Beach, FL 33445USA: +1-888-600-6441Email: [email protected] Our Web Site: https://www.marketsandmarkets.com/Research Insight: https://www.marketsandmarkets.com/ResearchInsight/anti-drone-market.aspContent Source: https://www.marketsandmarkets.com/PressReleases/anti-drone.asp
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Artificial Intelligence

CluePoints Launches Medical & Safety Review (MSR) Software to Revolutionize Clinical Data Review

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CluePoints furthers its commitment to delivering innovative solutions that enhance clinical trial efficiency with this latest addition to its enterprise software platform.
KING OF PRUSSIA, Pa., Sept. 27, 2024 /PRNewswire/ — CluePoints continues to transform clinical trial review and leverage its industry-leading software to enhance the interrogation, analysis and presentation of data with the launch of its latest application, Medical & Safety Review (MSR).

The tool simplifies and streamlines the medical analysis of study data through user-friendly dashboards, data manipulation and cleaning, query management and full transparency over the data history. This not only improves efficiency and communication in medical oversight, but also elevates patient safety, differentiating MSR as a smarter and unique solution.
Designed by, and for Medical and Safety Reviewers, MSR converts the manual analysis of patient outcomes, which can be prone to inefficiency and error, into an accurate, efficient process. MSR tackles time-consuming study preparation for specific visualizations by featuring a comprehensive standard visualization library as well as the ability to copy and reuse dashboards across different studies, enabling the identification of outlying values, change tracking, and improved communication for smarter clinical trials.
Other benefits of MSR include:
Enhanced medical review efficiency and reduced human errors via automated checksReduced time spent by clinical and data management teams in reviewing dataImproved collaboration with integrated review workflows across departmentsEnsured record quality and accountability with comprehensive change trackingDriving faster decision making with the proactive detection of trends and safety issuesEnsuring regulatory compliance with rule-based detection and user assignmentsAndy Cooper, Chief Executive Officer at CluePoints, commented, “We are thrilled to announce the launch of Medical & Safety Review to our growing product offerings. MSR is the latest application addition to the CluePoints platform, which includes products such as Risk-Based Quality Management (RBQM) and our Site Profile & Oversight Tool (SPOT). Together, they provide a comprehensive approach to clinical trial optimization, enhancing data integrity, ensuring regulatory compliance, and accelerating drug development. The creation of MSR ensures a more streamlined review process while prioritizing patient safety at every step and empowers medical teams to swiftly identify outliers, track data changes, and improve communication.”
To learn more about CluePoints’ award-winning solutions, please visit www.cluepoints.com
About CluePoints
CluePoints is the premier Risk-Based Quality Management (RBQM) and Data Quality Oversight Software provider. We are leveraging the potential of Artificial Intelligence using Advanced Statistics and Machine Learning to determine the quality, accuracy, and integrity of clinical trial data both during and after study conduct. Aligned with guidance from the FDA, EMA, and ICH E6 (R2), CluePoints is deployed to support central and on-site monitoring, medical review, quality risk management and to drive a holistic Risk-Based strategy in all trials. Coupled with thought leadership and consulting expertise to aid pre-study risk assessment, identification of risk controls and solution implementation, you now have everything you need to adhere with global regulatory guidance. The result is positive clinical development outcomes, increased operational efficiency, lower costs and reduced regulatory submission risk as part of the industry paradigm shift to RBQM.
 

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