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Smart Factory Market Worth $262.2 Billion by 2029 – Exclusive Report by Meticulous Research®

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Redding, California, Oct. 18, 2022 (GLOBE NEWSWIRE) — According to a new market research report titled, ‘Smart Factory Market by Component, Technology, and End-use Industry (Automotive, Heavy Machinery & Tools, Aerospace & Defense, Metals & Mining, Electronics & Semiconductors, and Other End-use Industries)Global Forecast to 2029’, the global smart factory market is projected to reach $262.2 billion by 2029, at a CAGR of 21.3% from 2022 to 2029.

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A smart factory is a digitized manufacturing facility that uses connected devices, machinery, and production systems to continuously collect and share data. It is a factory where physical production processes and operations are combined with digital technology, smart computing, and big data to create a more opportunistic system for companies that focus on manufacturing and supply chain management.

Smart factory solutions are increasingly gaining traction due to their increasing adoption across various industries, including automotive, heavy machinery & tools, aerospace & defense, metals & mining, electronics & semiconductors, medical devices, and food & beverage. The growth of the global smart factory market is driven by the surge in demand for smart and connected solutions across industry verticals, increasing investments in industry 4.0, and the increasing adoption of robots in the manufacturing sector. However, high capital and operating expenses are notable restraints for the market growth.

The implementation of smart factory solutions in developing countries and the increasing developments in wireless sensor networks and their adoption in smart factories are expected to offer significant growth opportunities for the players operating in this market. However, vulnerability to cyberattacks and the rising data sensitivity & security concerns pose serious challenges to the growth of the smart factory market.

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Impact of COVID-19 on the Smart Factory Market

The COVID-19 outbreak significantly influenced the manufacturing industry by exposing its dependency on manual labor and highlighted the importance of adopting advanced technologies such as AI, machine learning, and IoT to implement smart factories. Thus, there is an increasing demand for smart factory solutions in production processes from various industries. The implementation of smart factory solutions is highly regarded to drive improved productivity, higher production quality, near-zero design errors, enhanced energy efficiency, leaner process, flexibility in production scale, increased agility, improved predictability, and enhanced process monitoring in warehouses. These benefits align with the requirement of the new dynamic protocols, which influence the adoption of smart technologies to develop smart factories, digital automation solutions, and industrial IoT solutions across different industry verticals. Smart manufacturing improves companies’ productivity and optimizes the workforce. It also offers remote factory monitoring functionalities at greater efficiency, irrespective of time and place constraints.

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During the pandemic, many leading smart factory solution providers put in efforts to develop new technologies to automate manufacturing processes at different levels. For instance, in 2021, Mitsubishi Electric Corporation (Japan), along with the National Institute of Advanced Industrial Science and Technology (AIST) (Japan,) developed an AI technology that predicts changes during automated manufacturing processes and then makes real-time adjustments in the factory-automation (FA) equipment, such as motion, speeds, etc., during manufacturing operations. Such developments are expected to fuel the growth of the global smart factory market over the coming years.

The global smart factory market is segmented by component (solutions, services), technology (Industrial Internet of Things (IIoT), cloud computing & storage, robotics & automation (robots, automated storage and retrieval systems and automatic guided vehicles, automated assembly lines, wearables & mobile devices), industrial cybersecurity, additive manufacturing, augmented reality/virtual reality, digital twin, artificial intelligence, blockchain, and other technologies (modern databases & modern ERP systems)), and end-use industry (automotive, heavy machinery & tools, aerospace & defense, metals & mining, electronics & semiconductors, medical devices, food & beverage, pharmaceuticals, oil & gas, fast-moving consumer goods, paints & chemicals, energy & power, pulp & paper, other end-use industries (agriculture and prefabricated construction)). The study also evaluates industry competitors and analyses the regional and country-level markets.

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Based on component, the global smart factory market is segmented into solutions and services. In 2022, the solutions segment is expected to account for the largest share of the global smart factory market. The large share of this segment is attributed to the increasing proliferation of smart factory solutions in discrete manufacturing, the increasing need to automate factory production with smart factory software, the rising popularity of connected factory solutions, and the growing demand to analyze productivity and efficiency in factories. This segment is also projected to register the highest CAGR over the forecast period.

Quick Buy – Smart Factory Market- Global Opportunity Analysis And Industry Forecast (2022-2029), Research Report: https://www.meticulousresearch.com/Checkout/25576159

Based on technology, the smart factory market is segmented into industrial Internet of Things (IIoT), cloud computing & storage, robotics & automation, industrial cybersecurity, additive manufacturing, augmented reality/virtual reality, digital twin, artificial intelligence, blockchain, and other technologies. In 2022, the industrial IoT segment is expected to account for the largest share of the smart factory market. The large market share of this segment is attributed to the growing need to improve the performance and productivity of industrial processes, the consistently declining cost of industrial IoT sensors, and the growing investments to interconnect equipment to upgrade the existing factories to smart factories. However, the blockchain technology segment is projected to register the highest CAGR during the forecast period. The growth of this segment is driven by the rising proliferation of blockchain technology in the energy & power and industrial sectors, the surge in demand for real-time data analysis, and the growing need to enhance production with minimum maintenance, simplified business processes, and reduced downtime.

Based on end-use industry, the global smart factory market is segmented into automotive, heavy machinery & tools, aerospace & defense, metals & mining, electronics & semiconductors, medical devices, food & beverage, pharmaceuticals, oil & gas, fast-moving consumer goods, paints & chemicals, energy & power, pulp & paper, and other end-use industries. In 2022, the automotive segment is expected to account for the largest share of the global smart factory market. The large market share of this segment is attributed to the increasing emphasis on developing next-generation automobile production facilities and warehouses, the rising need to reduce costs & downtime in automotive production lines, and the increasing need for IoT & connected devices in the automotive industry. However, the pharmaceuticals and medical device manufacturing segment is slated to register the highest CAGR during the forecast period. The growth of this segment is driven by the growing need to adopt cost-control measures in the healthcare sector, the growing adoption of digital technologies in medical device manufacturing operations, and the increasing need to ensure the safety and security of the supply chain.

Based on geography, the global smart factory market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2022, the Asia-Pacific region is expected to account for the largest share of the global smart factory market. The large share of this market is attributed to the increasing adoption of smart manufacturing solutions in the region, the increasing adoption of industrial robots and Industry 4.0 solutions, the rising adoption of cloud-based smart manufacturing solutions, the growing presence of well-established market players operating in the region, and the increasing popularity for IIoT & connected systems among regional automotive industries. This region is also slated to register the highest CAGR over the forecast period.

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The key players operating in the global smart factory market are ABB Ltd (Switzerland), Emerson Electric Co. (U.S.), General Electric (U.S.), Rockwell Automation, Inc. (U.S.), Schneider Electric SE (France), Siemens AG (Germany), Mitsubishi Electric Corp. (Japan), Honeywell International Inc. (U.S.), Yokogawa Electric Corporation (Japan), Endress+Hauser Group Services AG (Switzerland), SAP SE (Germany), Oracle Corporation (U.S.), IBM Corporation (U.S.), Cisco Systems, Inc. (U.S.), Microsoft Corporation (U.S.), and Ubisense Ltd. (U.K.).

To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/smart-factory-market-5365

Scope of the Report

Smart Factory Market, by Component                           

  • Solutions
    • Industrial Sensors
    • Industrial Robots
      • Articulated Robots
      • SCARA
      • Cartesian Robots
      • Autonomous Mobile Robots (AMRs)
      • Other Robots (Humanoids & Cobots)
    • Machine Vision Systems
      • Cameras
      • Optics and LED Lighting
    • Industrial Automation and Control Systems/Plant Level Controls
      • Supervisory Control and Data Acquisition (SCADA)
      • Distributed Control Systems (DCS)
      • Programmable Logic Controllers (PLC)
      • Other Plant-level Controls
    • Enterprise-level Controls
      • Product Lifecycle Management (PLM)
      • Enterprise Resource Planning (ERP)
      • Manufacturing Execution Systems (MES)
    • Industrial Safety Systems
    • Asset Performance Management Solutions
    • Other Solutions
  • Services
    • Professional Services
    • Managed Services

Smart Factory Market, by Technology

  • Industrial Internet of Things (IIoT)
  • Cloud Computing & Storage
  • Robotics & Automation
    • Robots
    • Automated Storage and Retrieval Systems (ASRS) & Automatic Guided Vehicles (AGVS)
    • Automated Assembly Lines
    • Wearables & Mobile Devices
  • Industrial Cybersecurity
  • Additive Manufacturing
  • Augmented Reality /Virtual Reality
  • Digital Twin
  • Artificial Intelligence
  • Blockchain
  • Other Technologies

Smart Factory Market, by End-use Industry

  • Automotive
  • Heavy Machinery & Tools
  • Aerospace & Defense
  • Metals & Mining
  • Electronics & Semiconductors
  • Medical Devices
  • Food & Beverage
  • Pharmaceuticals
  • Oil & Gas
  • Fast-moving Consumer Goods (FMCG)
  • Paints & Chemicals
  • Energy & Power
  • Pulp & Paper
  • Other End-use Industries

Smart Factory Market, by Geography

  • North America
      • U.S.
      • Canada
  • Europe
      • Germany
      • U.K.
      • France
      • Italy
      • Spain
      • Netherland
      • Switzerland
      • Rest of Europe
  • Asia-Pacific
      • Japan
      • China
      • India
      • South Korea
      • Singapore
      • Rest of Asia-Pacific
  • Latin America
      • Mexico
      • Brazil
      • Rest of Latin America
  • Middle East and Africa
      • UAE
      • Israel
      • Rest of MEA

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Related Reports:

Smart Manufacturing Market – Global Forecast to 2029

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https://www.meticulousresearch.com/product/smart-manufacturing-market-5265

Industrial Automation Market – Global Forecast to 2027

https://www.meticulousresearch.com/product/industrial-automation-market-5172

Industrial Robotics Market – Global Forecast to 2029

https://www.meticulousresearch.com/product/industrial-robotics-market-5278

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Industrial Automation Software Market – Global Forecast to 2029

https://www.meticulousresearch.com/product/industrial-automation-software-market-5279

Industrial Automation Sensors Market – Global Forecast to 2029

https://www.meticulousresearch.com/product/industrial-automation-sensors-market-5281

Automated Storage and Retrieval Systems Market – Global Forecast to 2028

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https://www.meticulousresearch.com/product/automated-storages-and-retrieval-systems-market-5159

Automated Material Handling Systems Market – Global Forecast to 2028

https://www.meticulousresearch.com/product/automated-material-handling-systems-market-5149

About Meticulous Research®

Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

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The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.

Contact:
Mr. Khushal Bombe
Meticulous Market Research Inc.
1267 Willis St, Ste 200 Redding, 
California, 96001, U.S.
USA: +1-646-781-8004
Europe : +44-203-868-8738
APAC: +91 744-7780008
Email- [email protected] 
Visit Our Website: https://www.meticulousresearch.com/
Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research
Content Source: https://www.meticulousresearch.com/pressrelease/592/smart-factory-market-2029


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Artificial Intelligence

YES Delivers Multiple VeroTherm Formic Acid Reflow Systems To Leading Semiconductor Device Customers

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FREMONT, Calif., June 26, 2024 /PRNewswire/ — YES (Yield Engineering Systems, Inc.), a leading manufacturer of process equipment for semiconductor advanced packaging applications, today announced that it has delivered multiple VeroTherm Formic Acid Reflow (FAR) systems to leading logic and memory customers. This system will be utilized to enable 3D stacking of memory and logic chips required to support the growth of high-performance AI accelerators driven by large language model (LLM) applications.

The VeroTherm FAR system is designed to provide solutions for achieving sub 10-micron micro-bump structures with fluxless solder and mass reflow processes. This system enables superior quality and total cost of ownership (CoO) particularly for the manufacturing of advanced packaging architectures such stacked logic and high bandwidth memory (HBM) that are an integral part of the AI accelerators currently being launched in the market.
“The VeroTherm offers unique single wafer chamber design with flexibility to improve reflow quality and addresses challenges associated with reduced bump pitches. YES has demonstrated superior reflow results with no bump cracking defects observed at sub-30 micron pitch and no collapsed bumps with pitches down to 12um. YES proprietary process also results in defect-free solder reflow resulting in high throughput and low CoO. These results can extend bump-based mass reflow technology to sub-10um pitch,” said Alex Chow, SVP Global Sales at YES. “These orders are an important milestone for YES as it is a validation of our efforts to serve the multiple market segments,” Chow added.
According to Saket Chadda, SVP and GM, Dry Business Unit at YES, “Our Verotherm FAR wafer product line offers vacuum based single wafer processing with unique capabilities of performing the task of removing oxides and reflowing solder into excellent bump shapes without defects found in older atmospheric pressure systems. It eliminates SnAg agglomerate defects and rough surfaces while minimizing inter-metallic compound zones with extendibility down to sub-10um micron pitches.”
About YES
YES (Yield Engineering Systems, Inc.) is a leading manufacturer of high-tech, cost-effective equipment for transforming surfaces, materials and interfaces.  The company’s product lines include vacuum cure ovens, chemical vapor deposition (CVD) systems, and plasma etching tools used for precise surface modification and thin-film coating of semiconductor wafers, semiconductor and MEMS devices, and biodevices. With YES, customers ranging from startups to Fortune 100 companies can create and volume-produce products in a wide range of markets, including Advanced Packaging, MEMS, Augmented Reality/Virtual Reality and Life Sciences. YES is headquartered in Fremont, California, with a growing global presence. For more information, please visit www.yieldengineering.com.
Media Contact
Alex ChowSVP Business Development & Mktg / Asia PresidentYES (Yield Engineering Systems, Inc.)+886-926136155 [email protected] 
Logo – https://mma.prnewswire.com/media/2357724/YES_TM_logo_RGBv2_Logo.jpg

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Amagi Strengthens its European Presence With the Inauguration of a New Office in Poland

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Amagi to Develop Flagship LIVE Products at Central European Innovation Center
ŁÓDŹ, Poland, June 26, 2024 /PRNewswire/ — Amagi, a leading global provider of cloud-based SaaS technology for broadcast and Connected TV (CTV), is focusing on engaging with the vibrant young technology talent in Poland as it inaugurates a new office in the bustling center of Łódź. This move underlines Amagi’s dedication to harnessing the exceptional technology skills found in Poland, aiming to shape the future of global media and entertainment.

Poland has strategically positioned itself as a magnet for tech innovation. Its robust educational system produces engineering, computer science, and other tech-related graduates. This abundance of skilled professionals and a supportive environment make Poland a prime location for companies looking to tap into the global tech scene.
“The inauguration of this innovation center in Central Europe marks a key milestone in Amagi’s journey,” says Baskar Subramanian, Co-Founder and CEO of Amagi. “This center will provide a platform for Polish technology professionals to serve our global customers, underscoring Amagi’s strategic vision of being a frontrunner in the cloud-based live broadcast technology domain.”  
“The entry of Amagi into our market is a significant event for our technology sector,” says Adam Pustelnik, First Deputy Mayor of the City of Łódź. “This industry is growing rapidly and constantly needs new solutions, specialists, and a specific talent pool. We are delighted to collaborate with such an innovative company and support the development of our City together. I believe that Amagi, as a strong global brand, will help strengthen Łódź’s position in the global media technology market.”
In 2023, Amagi expanded its global footprint by acquiring Tellyo, a Polish company specializing in broadcast technology solutions. This strategic move marked Amagi’s initial foray into the Polish market and proved to be a significant growth catalyst for the company.  The talented Polish development teams are now at the forefront of several of Amagi’s industry-leading products, including Tellyo STUDIO, a platform designed to streamline live content production and delivery, and Tellyo PRO, a suite of tools tailored explicitly for high-pressure live broadcast environments like elections and significant sporting events, such as the Olympics.
“At Amagi, we’re driven by four core values that empower everyone in our ecosystem, from employees to customers, to thrive and reach their full potential truly,” says Prasad Menon, Chief People Officer at Amagi. “Our Polish team perfectly embodies this philosophy.  Their exceptional talent, dedication, and deep understanding of technology fuel the development of our industry-leading solutions.  Their ability to deliver cutting-edge products like Tellyo Studio and Tellyo Pro ensures Amagi continues to meet the ever-changing needs of the global media landscape.”
Amagi has significantly increased its customer base in the European region. It now delivers services to large media and entertainment industry players like DAZN, Grupa Polsat-Interia, and many more. Amagi also delivers linear channels in over 40 countries worldwide, with a strong presence in the American market. Its global client list includes ABS-CBN, AccuWeather, A+E Networks UK, Cineverse, and more.
About Amagi
Amagi is a next-generation media technology company that provides cloud broadcast and targeted advertising solutions to broadcast TV and streaming TV platforms. Amagi enables content owners to launch, distribute, and monetize live linear channels on Free Ad-supported Streaming TV and video services platforms. Amagi also offers 24×7 cloud-managed services bringing simplicity, advanced automation, and transparency to the entire broadcast operations. Overall, Amagi supports 800+ content brands, 800+ playout chains, and over 3800+ channel deliveries on its platform in over 150 countries. Amagi has a presence in New York, Los Angeles, London, Paris, Melbourne, Seoul, Singapore, and broadcast operations in New Delhi, and innovation centers in Bangalore, Zagreb, and Łódź.
About Invest in Łódź 
Our Bureau supports investors & businesses by being an integrator of diverse entities around the City and its offerings and facilitating relations among stakeholders. Moreover we provide services and tools that create value for future investors and stakeholders and promote the business brand of the City.
Link to Word Doc: www.wallstcom.com/Amagi/240625-Amagi-Poland.docx 
Link to Polish Translation: www.wallstcom.com/Amagi/240625-Amagi-Poland-Po.docx
Photo Link: www.wallstcom.com/Amagi/Poland_Office.jpg
Photo Caption: Deputy Mayor of the City of Łódź, Adam Pustelnik, Prasad Menon, Chief People Officer at Amagi, Mariusz OstojaSwierczynski, Senior Director of Engineering at Amagi, and Jakub Majkowski, Founder and COO of Tellyo, at the inauguration of the new innovation center in Łódź.
 
Amagi Contact:
Aashish Washikar
Director – Corporate Communications
Email: [email protected]
Phone : +91 9533390005

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Synechron to acquire Adelaide-headquartered companies Chamonix IT and Exposé to grow its digital transformation, engineering, AI, and data and analytics capabilities in Australia

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This acquisition extends Synechron’s reach across the country, establishing a presence in key hubs and unlocking new industries and clients.
SYDNEY and NEW YORK and LONDON and PUNE, India, June 26, 2024 /PRNewswire/ — Synechron, a global leader in digital transformation consulting for the financial and technology sectors, is proud to announce that it has executed a definitive agreement for the acquisition of Chamonix IT Management Consulting Pty Ltd and Exposé Data Pty Ltd. Both companies are headquartered in Adelaide, Australia, with additional operations in Melbourne and Brisbane and share a common goal of delivering digital transformation, artificial intelligence, and analytics expertise to clients across several key industries including government, healthcare, utilities, energy, and education. The definitive agreement with respect to the acquisition was signed on Tuesday, 25 June, 2024, and is subject to customary closing conditions, including approval by the Australian Foreign Investment Review Board (FIRB).

Chamonix IT, established in 2010, is the leading provider of digital transformation services to organizations in South Australia. With a skilled team of approximately 150 professionals, Chamonix IT has been pivotal in delivering cutting-edge solutions that address complex challenges and drive significant outcomes for enterprise-level and public sector clients. Chamonix IT’s founders established Exposé as a new company in 2016 to bring the same level of expertise, this time focused specifically on data science and engineering, data modelling and visualization, and artificial intelligence. Among the fastest-growing IT organizations in Australia, Exposé currently has a team of approximately 50 people across the country.
The two organizations will join Synechron’s core digital transformation consulting business alongside recently acquired iGreenData, which expanded Synechron’s data and blockchain expertise in the financial services sector. With these additions, Synechron has effectively doubled its presence in the country, achieving coverage across major sectors. This strategic positioning allows the company to capitalize on the growing information technology (IT) investment in Australia encompassing SaaS, IT services, and analytics, while simultaneously enhancing its ability to offer support and solutions across Asia, the Americas, and Europe.
Faisal Husain, Synechron Co-founder and CEO, commented, “We look forward to welcoming Chamonix IT and Exposé into the Synechron family when the acquisition is completed. They will enrich our presence in Australia, bringing fresh expertise and capabilities that complement our ongoing commitment in the region. This move will enhance our service offerings and drive significant value, strengthening our strategy of continuous innovation and client-focused solutions.”
Scott Grigg, CEO of Chamonix IT, said, “Joining forces with Synechron is a significant milestone for us. Our shared dedication to excellence and innovation means we’re exceptionally positioned to offer transformative digital solutions that are second to none.”
Kelly Drewett, CEO of Exposé, added, “Becoming part of the Synechron family represents a massive opportunity. It accelerates our ability to innovate and empowers our employees to take on even more complex challenges on behalf of our clients.”
Technology Holdings acted as the financial advisor to Chamonix IT and Exposé on the transaction.
About Synechron:
At Synechron, we believe in the power of digital to transform businesses for the better. Our global consulting firm combines creativity and innovative technology to deliver industry-leading digital solutions. Synechron’s progressive technologies and optimization strategies span end-to-end Artificial Intelligence, Consulting, Digital, Cloud & DevOps, Data, and Software Engineering, servicing an array of noteworthy financial services and technology firms. Through research and development initiatives in our FinLabs we develop solutions for modernization, from Artificial Intelligence and Blockchain to Data Science models, Digital Underwriting, mobile-first applications and more. Over the last 20+ years, our company has been honored with multiple employer awards, recognizing our commitment to our talented teams. With top clients to boast about, Synechron has a global workforce of 14,000+, and has 55 offices in 20 countries within key global markets. For more information on the company, please visit our website or LinkedIn community.
About Chamonix IT:
Chamonix IT empowers businesses to excel through transformative IT services. Serving both enterprise and government organizations, Chamonix IT delivers tailored solutions that ensure long-term success. Chamonix IT’s expertise spans Advisory, Cloud & Infrastructure, Application Innovation, Security, and Managed Services, enabling businesses to remain competitive and innovative in an ever-evolving landscape. By embracing an adaptable and flexible approach, Chamonix IT helps organizations navigate the complexities of digital transformation to propel their business forward.
About Exposé:
Exposé is a leading data analytics and AI consulting firm delivering data-driven insights and business-focused outcomes to private and public sector clients across Australia. Exposé’s approach is designed to give its clients the quickest and most cost-effective path to tackle data and AI opportunities through best practice. Clients benefit from Exposé’s significant experience, research and development, and innovation, which is at the core of what we do and the values we uphold. Founded in 2016, Exposé is now the largest data analytics and AI business in South Australia and one of only a few female-led technology businesses in the region.
For more information please contact:
Rashmi Joshi,[email protected] [email protected]
OR
 Zoe Forbes-Pyfrom (+44) 7718 [email protected]
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