Artificial Intelligence
Artificial Intelligence (AI) in Healthcare Market is Predicted to Grow at a CAGR of ~45% During 2023-2033; Significant Decrement in the Number of Physicians and Rising Prevalence of Neurological Disorders to Elevate Growth – Research Nester
New York, Oct. 21, 2022 (GLOBE NEWSWIRE) — Research Nester has published a detailed market report on ‘Global Artificial Intelligence (AI) in Healthcare Market’ for the forecast period, i.e. 2023 – 2033 which includes the following factors:
- Market growth over the forecast period
- Detailed regional synopsis
- Market segmentation
- Growth drivers
- Challenges
- Key market players and their detailed profiling
Global Artificial Intelligence (AI) in Healthcare Market Size:
The global artificial intelligence (AI) in healthcare market is projected to gain robust revenue by the end of 2033 by growing at a CAGR of ~45% over the forecast period. Additionally, the market generated remarkable revenue in the year 2022. The growth of the market can be ascribed to the rising number of elderly people and their growing need for assisted living facilities. National Library of Medicine data shows that about 1.5 million geriatrics live in nursing homes and nearly 1 million spend their lives in assisted living facilities. In addition to this, global artificial intelligence (AI) in healthcare market trends including growing healthcare expenditure and skyrocketing spending on artificial intelligence are projected to influence the growth of the market positively over the forecast period. In 2021, AI funding across the world was estimated to be around USD 18 billion which was a significant increase from about USD 650 million in 2011.
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Global Artificial Intelligence (AI) in Healthcare Market: Key Takeaways
- Asia Pacific region gains the largest portion of the revenue
- Hospitals segment to dominate the revenue graph
- Virtual assistance sub-segment remains prominent in the application segment
Significant Decrement in the Number of Physicians and Rising Prevalence of Neurological Disorders to Boost Market Growth
During the upcoming years, the world is projected to face a shortage of physicians and doctors on account of the constant growth in the population. Therefore, AI becomes the mandatory requirement to fill this gap by providing the required medical services to the people. It was found that the America has observed a shortage of physicians between 35,000 and 100,000 in recent years. Additionally, many applications including, end-to-end drug discovery, diagnosis, consulting, storing, and transcribing medical documents can be initiated with the adoption of AI in healthcare, and all these applications are further estimated to boost the market growth during the forecast period.
Furthermore, the increasing number of cases of neurological disorders across the globe is anticipated to propel market growth over the forecast period. On account of mental disorders, mainly Parkinson’s disorder, Alzheimer’s, and dementia, in such conditions, patients are advised to have a full-time caretaker or physician with them for treatment and care. Hence considering all these factors, the requirement for AI in healthcare is estimated to accelerate over the ensuing years. As per the World Health Organization, more people worldwide are becoming disabled, bedridden, and dying from Parkinson’s disease (PD) than from any other mental disorder. In the last 25 years, PD prevalence has doubled.
For more information in the analysis of this report, visit: https://www.researchnester.com/reports/artificial-intelligence-in-healthcare-market/1429
Global Artificial Intelligence (AI) in Healthcare Market: Regional Overview
The global artificial intelligence (AI) in healthcare market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Growing Geriatric Population to Drive Growth in the Asia Pacific Region
The market in Asia Pacific region is projected to hold the largest share by the end of 2033. The growth of the market can be ascribed to the growing geriatric population, rising neurological disorders among elders, and rising healthcare infrastructure in the region. For instance, in the Asia Pacific region, one in four persons will be older than 60 by 2050 and in progressive countries including Singapore and Thailand, there are an estimated 1.2 million seniors with dementia and 2.12 million elders living with depression. Furthermore, the rising adoption of AI technology in the healthcare sector is also anticipated to hike the growth of the market over the forecast period.
Rising Prevalence of Mental Disorders to Drive Growth in the North America Region
On the other hand, the market in North America region is estimated to gain noteworthy market share over the forecast period owing to rising cases of mental disorders in the region. It was found that an estimated 52.9 million persons in the United States who were 18 or older had a mental disorder in 2020. In addition to this, increasing investment in research and development activities in the region is expected to drive market growth during the forecast period.
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The study further incorporates Y-O-Y growth, demand & supply and forecast future opportunity in:
- North America (U.S., Canada)
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe)
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America)
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific)
- Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
Global Artificial Intelligence (AI) in Healthcare Market, Segmentation by Application
- Virtual Assistance
- Drug Discovery
- Medical Imaging
- Electrocardiography
- Medical Research
- Personalized Medicine
Out of these, the virtual assistance segment is predicted to witness noteworthy growth over the forecast period. The growth of the segment can be accounted to the growing utilization of virtual assistance for medical consulting. It is believed that more than 7 billion digital voice assistants will be functioning across the globe by 2024. In addition to this, increasing investment by healthcare sector in to the segment is anticipated to drive segment’s growth during the forecast time period.
Global Artificial Intelligence (AI) in Healthcare Market, Segmentation by End-User
- Clinics
- Diagnostic Labs
- Hospitals
Among these, the hospital segment is expected to hold a notable market share over the forecast period owing to the increasing investment by hospitals in to AI, people’s strong desire to be surrounded by highly skilled medical personnel and the existence of a huge patient pool in a hospital facility, which in turn is estimated to increase the overall spending in the health-care sector. As per the World Health Organization, global health spending has increased overall during the previous 20 years, doubling in real terms, reaching US$ 8.5 trillion in 2019 and 9.8% of GDP (up from 8.5 percent in 2000). Moreover, the increasing awareness among people regarding mental disorders the and the rising geriatric population, who are more tend to stay in hospital care are estimated to drive the segment growth over the forecast period.
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Global Artificial Intelligence (AI) in Healthcare Market, Segmentation by Technology
- Context-Aware Processing
- Natural Language Processing
- Speed Recognition, Machine Learning
- Others
Few of the well-known market leaders in the global artificial intelligence (AI) in healthcare market that are profiled by Research Nester are NVIDIA Corporation, Philips International B.V., Micron Technology, Inc., Siemens Healthcare GmbH, Crunchbase Inc., Genger.io, Inc., Welltok, Inc., Google LLC, Medtronic plc, General Electric Company, and others.
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Recent Developments in the Global Artificial Intelligence (AI) in Healthcare Market
- In September 2022, Philips International B.V. to demonstrate the clinical solution and data with enhanced efficiency at TCT 2022. These solutions are primarily designed to promote clinical assurance.
- In July 2022, Siemens Healthcare GmbH to introduce a study that has been conducted to evaluate and monitor the accuracy of diagnosis of non-contrast flatdetector CT.
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STOCKHOLM, Oct. 11, 2024 /PRNewswire/ — The following representatives of ASSA ABLOY AB’s shareholders will be members of the Nomination Committee for the 2025 Annual General Meeting:
– Johan Menckel, Investment AB Latour, Chairman of the Nomination Committee
– Mikael Ekdahl, Melker Schörling AB
– Marianne Nilsson, Swedbank Robur Fonder
– Yvonne Sörberg, Handelsbanken Fonder
– Carina Silberg, Alecta
The Chairman of the Board, Johan Hjertonsson, has been co-opted to the Nomination Committee.
The Nomination Committee shall prepare proposals for the Annual General Meeting in 2025 regarding the election of Chairman of the General Meeting, members of the Board of Directors, Chairman of the Board, Vice Chairman of the Board, auditor, fees for the members of the Board including division between the Chairman, the Vice Chairman and the other Board members as well as fees for committee work, fees to the company’s auditor and, if necessary, changes to the instructions for the Nomination Committee.
The Annual General Meeting will be held on 23 April 2025, in Stockholm, Sweden.
Shareholders who wish to submit proposals to the Nomination Committee should send an email to [email protected].
For more information, please contact:Nico Delvaux, President and CEO, tel. no: +46 8 506 485 82Erik Pieder, CFO and Executive Vice President, tel. no: +46 8 506 485 72 Björn Tibell, Head of Investor Relations, tel. no: +46 70 275 67 68
About ASSA ABLOY
The ASSA ABLOY Group is the global leader in access solutions. The Group operates worldwide with 61,000 employees and sales of SEK 141 billion. The Group has leading positions in areas such as efficient door openings, trusted identities and entrance automation. ASSA ABLOY’s innovations enable safe, secure and convenient access to physical and digital places. Every day, we help billions of people experience a more open world.
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Artificial Intelligence
AI in Social Media Market worth $10.33 billion by 2029- Exclusive Report by MarketsandMarkets™
DELRAY BEACH, Fla., Oct. 11, 2024 /PRNewswire/ — The AI in Social Media Market is projected to grow from USD 2.20 billion in 2024 to USD 10.33 billion by 2029, at a compound annual growth rate (CAGR) of 36.2% during the forecast period, according to a new report by MarketsandMarkets™. The market is expected to grow due to the rise in the need for more personalized user experiences, optimized advertising, and automated customer service.
Browse in-depth TOC on “AI in Social Media Market”
315 – Tables 63 – Figures320 – Pages
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Scope of the Report
Report Metrics
Details
Market size available for years
2019-2029
Base year considered
2023
Forecast period
2024-2029
Forecast units
USD (billion)
Segments Covered
Product type, Use case, End user, and Region
Geographics covered
North America, Europe, Asia Pacific, Middle East & Africa, Latin America
Companies covered
Major vendors in the global AI in Social Media Market are Google (US), Meta (US), IBM (US), Sprout Social (US), Sprinklr (US), AWS (US), LivePerson (US), HubSpot (US), Microsoft (US), Adobe (US), Baidu (China), OpenAI (US), Hootsuite (US), Qualtrics (US), Brandwatch (UK), Converseon (US), Meltwater (US), Quid (US), Digimind (France), CreatorIQ (US), Aspire.io (US), Lately.AI (US), SocialPilot (US), Copy.ai (US), Flick (UK), Dash Hudson (US), Jasper (US), Upfluence (US), Ocoya (Lithuania), Upgrow (US), StoryChief (Belgium), Genius.AI (UAE), ContentStudio (US), Emplifi (US), Lumen5 (US), Buffer (US), Narrato (India), Mentionlytics (UK), Kapwing (US), Predis.AI (India), Pictory (US), Midjourney (US), and Synthesia (UK).
The major factors driving the market growth of AI in Social Media Market include the introduction of AI-powered deepfake detection in social media to identify and flag altered content. Social platforms are increasingly relying on advanced AI algorithms to detect and flag manipulated videos, images, and audio, addressing growing concerns about misinformation, fraud, and digital deception. Growth in Gen AI-based content creation tools enables brands to create captivating and unique content. These tools empower brands to effortlessly create captivating, unique content at scale, allowing personalized engagement with audiences. The rising demand for highly personalized content and recommendations tailored to user preferences and behavior are shaping the social media market. This personalization boosts user satisfaction, fosters stronger engagement, and increases time spent on platforms, benefiting users and advertisers. Improved collaboration between influencers and brands is boosting the effectiveness of influencer marketing campaigns with AI. AI tools help brands and influencers to better understand the audiences by analyzing data like preferences, behaviors, and trends. This helps both brands and influencers grow their reach and engagement which makes influencer marketing campaigns successful.
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Advent of Gen AI-based content creation tools enables brands to create captivating and unique content.
The rise of gen AI-based content creation tools has transformed social media by empowering brands to create unique content. These tools are powered by advanced language models, enable automated text generation, images, and videos that cover target audiences, and maintain a dynamic presence on platforms. The utilization of gen AI across sectors such as entertainment, healthcare, and marketing agencies is transforming content creation and customer engagement. Gen AI also simplifies content production workflow, reducing time and cost related to traditional content creation methods. Global tech giants are investing heavily in AI technologies to improve user experience, enhance advertising effectiveness, and gain competitive advantages in the AI in social media market.
By Product type, the influencer marketing segment registers for the fastest growing market during the forecast period.
By automating and optimizing influencer marketing, AI social media tools enable brands to make data-driven decisions, reach relevant audiences, and ensure their campaigns are more effective and cost-efficient. AI-based social media tools in influencer marketing assist brands in detecting fraudulent influencers, which can improve the ROI, increase sales, and improve the brand’s reputation. For instance, AI content tools like Lumen5, Canva, Jasper, and Midjourney are major tools for improving influencer marketing strategies by crafting high-quality content.
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By region, Asia Pacific to register the highest CAGR market during the forecast period.
Asia Pacific is a rapidly growing region for AI in social media, compelled by high mobile and internet penetration rates and a young, tech-savvy population. Countries like China, India, Japan, and South Korea are leading the adoption, with social media platforms being central to the region’s social media ecosystem. With the vast amount of content generated in diverse languages, AI in social media is used for content moderation, language translation, and understanding user-generated content, specifically across China and India.
Top Key Companies in AI in Social Media Market:
Some major players in the AI in Social Media Market include Google (US), Meta (US), IBM (US), Sprout Social (US), Sprinklr (US), AWS (US), LivePerson (US), HubSpot (US), Microsoft (US), Adobe (US), Baidu (China), OpenAI (US), Hootsuite (US), Qualtrics (US), Brandwatch (UK), Converseon (US), Meltwater (US), Quid (US), Digimind (France), CreatorIQ (US), Aspire.io (US), Lately.AI (US), SocialPilot (US), Copy.ai (US), Flick (UK), Dash Hudson (US), Jasper (US), Upfluence (US), Ocoya (Lithuania), Upgrow (US), StoryChief (Belgium), Genius.AI (UAE), ContentStudio (US), Emplifi (US), Lumen5 (US), Buffer (US), Narrato (India), Mentionlytics (UK), Kapwing (US), Predis.AI (India), Pictory (US), Midjourney (US), and Synthesia (UK).
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Artificial Intelligence
NTT DATA signs agreement to acquire Aoop and will become a leader in ServiceNow solutions in Latin America
BIELEFELD, Germany and SÃO PAULO, Oct. 11, 2024 /PRNewswire/ — NTT DATA Business Solutions AG, a global unit of NTT DATA, announces that the agreement for the acquisition of Aoop, a leading ServiceNow implementation company in Brazil, has been signed. The terms of the acquisition have been finalized between the companies and will be completed following approval from the Administrative Council for Economic Defense (CADE). Founded in 2017, Aoop supports customers across various industries and is a specialist in the acceleration of automated digital strategies. With Aoop, NTT DATA will expand its operations in the Latin American ServiceNow solutions market, complementing a recent acquisition in the UK focused on strengthening this offering in Europe and the United States.
“With the acquisition of Aoop, we significantly increase our competitive strength in Brazil by offering both SAP and ServiceNow solutions, positioning us alongside market leaders,” says Norbert Rotter, CEO, NTT DATA Business Solutions. “This move will not only secure us a leading position in the fast-growing ServiceNow ecosystem but will also integrates a company with a strong market presence and solid financials to NTT DATA. It will be a significant step in driving our strategic objectives, strengthening our partnership with ServiceNow and our commitment to establishing a Center of Excellence in the region.”
Ricardo Fachin, Managing Director of NTT DATA Business Solutions Brazil adds: “The acquisition of Aoop will solidify our leading position in the Brazilian market. It will enhance synergies with our other Latin American and U.S. operations, accelerating our regional growth. As part of ServiceNow’s global strategy, Brazil will become a significant shoring center for the group. Aoop’s comprehensive portfolio, covering all ServiceNow verticals, will benefit all NTT DATA customers.”
With a strategy focused on driving the future of organizations and providing full lifecycle services, Aoop has completed around 2,500 digital transformation projects and has over 300 professionals certified on ServiceNow solutions. This expertise has led the company to become a ServiceNow Elite Partner in record time. The continuous commitment to excellence and the delivery of innovative solutions have established Aoop as a market reference, integrating intelligent efficiency throughout the entire production chain.
“Aoop leads the ServiceNow market in Brazil. Our integration with NTT DATA Business Solutions will allow us to further expand our solution offerings to existing customers, access new opportunities for joint solutions with SAP customers and accelerate our international expansion,” says Luiz Cesar Baptistella, CEO and founder of Aoop.
The acquisition of Aoop will add 120 customers to the portfolio of NTT DATA Business Solutions, which has been operating in Brazil for 25 years. Aoop will become a subsidiary of NTT DATA Business Solutions – Servicos de Tecnologia Ltda. in Brazil and will operate as an independent company after the acquisition, using the brand name “Aoop, an NTT DATA Company”.
For more information visit nttdata-solutions.com.
About NTT DATA Business Solutions
NTT DATA Business Solutions is a leading global IT service provider focused on SAP with a powerful ecosystem of partners. With more than 35 years of in-depth experience, we enable companies worldwide to become Intelligent Enterprises. We deliver end-to-end solutions that accelerate sustainable growth and success – from strategic consulting and implementation to managed services and beyond. As a global strategic SAP partner, we drive innovation and leverage the latest technologies to support our customers individually and across all industries. Our more than 15,300 dedicated employees in over 30 countries work passionately every day to make it happen.
NTT DATA Business Solutions is part of NTT DATA, a $30+ billion trusted global innovator of business and technology services headquartered in Tokyo. As One NTT DATA we serve 75% of the Fortune Global 100 and are committed to helping customers innovate, optimize and transform for long-term success. NTT DATA is part of NTT Group.
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Sofia Baldessar
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Servicos de Tecnologia Ltda.
1440 Visconde de Nacar Street –
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T: +55 41 988658826
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NTT DATA Business Solutions AG
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T: +49 521 9 14 48 108
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