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Automation Software Market Size is expected to reach at USD 76.4 Billion by 2030, registering a CAGR of 16.5%, Owing to Increasing Adoption of Industry 4.0 and Digital Infrastructure

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BEIJING, Nov. 03, 2022 (GLOBE NEWSWIRE) — The Global Automation Software Market Size accounted for USD 19.9 Billion in 2021 and is estimated to achieve a market size of USD 76.4 Billion by 2030 growing at a CAGR of 16.5% from 2022 to 2030.

Automation Software Market Statistics

  • Global automation software market revenue was worth USD 19.9 billion in 2021, with a 16.5% CAGR from 2022 to 2030
  • North America region was accounted 39% of automation software market share in 2021
  • Asia-Pacific market is expected to grow at a CAGR of 18.1% from 2022 to 2030
  • Based on product, cloud acquired over 58% of the overall market share in 2021
  • Increased demand for quality and reliable manufacturing automation, drives the automation software market value

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Automation Software Market Report Coverage:

Market Automation Software Market
Automation Software Market Size 2021 USD 19.9 Billion
Automation Software Market Forecast 2030 USD 76.4 Billion
Automation Software Market CAGR During 2022 – 2030 16.5%  
Automation Software Market Analysis Period 2018 – 2030
Automation Software Market Base Year 2021  
Automation Software Market Forecast Data 2022 – 2030
Segments Covered By Product, By Application, And By Geography
Automation Software Market Regional Scope North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Key Companies Profiled ClickDimensions, Act-On Software, Oracle, ActiveCampaign, Sendinblue, SAS, Acoustic, Salesforce, GetResponse, and HubSpot.
Report Coverage Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis

Automation Software Market Overview

Automation software is a type of technology that reduces the requirement for human involvement and may be employed in practically any sector. Automation software is intended to convert recurring, routine processes into autonomous operations.

Automation Software Market Growth Factors

  • Increasing mass manufacturing adoption while lowering operating costs
  • Extensive adoption of Industry 4.0 and digital infrastructure
  • Rising adoption of burgeoning digital industrialization, such as the industrial Internet of Things (IIoT)

Automation Software Market Trends

With the emergence of sensing devices and high-bandwidth internet, industries are concentrating on improving plant performance. The existence of a significant number of businesses that operate in automation, as well as the introduction of novel solutions, is likely to boost the particular market’s growth. The participants’ approach to expanding the financial system and enhancing customer experience is predicted to have an influence on the expansion of the automation software market. Temenos AG will deploy its digital financial services technology solutions in the United States in 2020. The technology would allow clients to open digital-only financial transactions for 90 days, allowing banks to satisfy rising consumer demand while remaining competitive in the marketplace. Temenos AG is a Swiss bank-based technology service company. This is key to improving the corporation improve its operations and raise its revenue share.

Besides that, issues such as a shortage of decent infrastructure in emerging nations for the adoption of innovative devices, as well as a shortage of experienced personnel, are likely to impede the growth of the worldwide automation software market. Furthermore, the high cost of integrating innovative solutions into the current structure is projected to limit the target market’s growth. However, rising government expenditure on new additional skills, high investment by major corporations and future product introductions are projected to provide new possibilities for players in the automation software market throughout the forecast period. Furthermore, the growing collaboration between regional and worldwide players is likely to assist the target market’s revenue growth.

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Automation Software Market Segmentation                

The global automation software market has been segmented by Acumen Research and Consulting based on product, and application. By product, the segment is separated into cloud, and on-premises. According to the automation software market forecast, the cloud category is predicted to develop significantly in the next years. In terms of application, the market is categorized into BFSI, retail and consumer goods, healthcare and life sciences, media and entertainment, IT and telecoms, manufacturing, travel and hospitality, education, and others.

Automation Software Market Regional Overview        

The global automation software market is separated into several geographic regions: Asia-Pacific, Europe, North America, Latin America, and the Middle East and Africa. According to an automation software industry analysis, North America is predicted to account for a significant revenue share in the global market. This is owing to the gamers’ preference for automating operations. The government is working to improve infrastructure in order to facilitate the use of modern technology. The US government has stated that it will invest $10.9 billion in intelligent process automation by 2021. While spending on artificial intelligence (AI) and robotic process automation (RPA) solutions is predicted to be lower, at US$ 4 billion and US$ 5.4 billion, respectively. The use of intelligent process automation in each and every industrial vertical approach to improving operational efficiency and cost reduction is growing.

In the coming years, Asia-Pacific is predicted to experience significant market growth. This is owing to the government’s large infrastructure spending. With the development of machine learning, artificial intelligence, and robotic technology, rapid industrialization in developing countries is changing economies with automated systems. Government spending on healthcare development is rising, and the trend toward using advanced robotics to help with service delivery is projected to fuel the expansion of the industrial automation software market.

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Automation Software Market Players                        

Some of the prominent automation software market companies are Click Dimensions, Oracle, Sendinblue, Acoustic, GetResponse, Act-On Software, ActiveCampaign, Salesforce, SAS, and HubSpot.

Automation Software Market Strategies

Favorable economic schemes and regulations by the regional administration, the creation of SME firms with new solutions, and continued spending for automation in a variety of industries are projected to be important factors driving the worldwide marketing automation software market growth. Moreover, increased acquisitions and mergers, and innovative product introductions to improve business and increase client base are projected to drive industrial automation software market growth.

Some of the key strategies in market:

  • In 2021, UiPath, a prominent corporate automation software provider, founded Ireland’s first automation academy to train the country’s professionals on automation. This rollout is supposed to help the business increase its operations and attract new consumers.
  • In 2021, Sopra Banking Software introduced a software “Marketplace” to speed platformization & modernization of financial institutions. This can assist BSFIs in utilizing digitization for banking, security, customer service, data management, documentary management, and visualization.
  • In 2020, Automation Anywhere, an RPA pioneer, built an AI-powered banking assistant to reduce SBA loan processing time from three days to three weeks. This new launch is intended to assist the company in growing its operations and broadening its product portfolio in the BFSI industry.

Questions Answered By This Report

  • What was the market size of Automation Software Market in 2021?
  • What will be the CAGR of Automation Software Market during the forecast period from 2022 to 2030?
  • Who are the major players in Global Automation Software Market?
  • Which region held the largest share in Automation Software Market in 2021?
  • What are the key market drivers of Automation Software Market?
  • Who is the largest end user Automation Software Market?
  • What will be the Automation Software Market value in 2030?

Browse More Research Topic on Chemical Software Industries Related:

The Global Investor ESG Software Market Size Accounted for USD 558 Million in 2021 and is predicted to be worth USD 2,011 Million by 2030, with a CAGR of 15.7% during the forthcoming period from 2022 to 2030.

The Global Data Privacy Software Market Size accounted for USD 1,692 Million in 2021 and is estimated to achieve a market size of USD 35,088 Million by 2030; growing at a CAGR of 40.2%.

The Global Application Development Software Market Size accounted for USD 187 Billion in 2021 and is estimated to achieve a market size of USD 1,628 Billion by 2030; growing at a CAGR of 27.4%.

About Acumen Research and Consulting:

Acumen Research and Consulting is a global provider of market intelligence and consulting services to information technology, investment, telecommunication, manufacturing, and consumer technology markets. ARC helps investment communities, IT professionals, and business executives to make fact-based decisions on technology purchases and develop firm growth strategies to sustain market competition. With the team size of 100+ Analysts and collective industry experience of more than 200 years, Acumen Research and Consulting assures to deliver a combination of industry knowledge along with global and country level expertise.

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Artificial Intelligence

Aurionpro Solutions acquires Arya.ai, to power next generation Enterprise AI platforms for Financial Institutions

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SINGAPORE, April 20, 2024 /PRNewswire/ — Aurionpro Solutions Limited (BSE: 532668) (NSE: AURIONPRO) announces the acquisition of Banking and Insurance focused PaaS startup, Arya.ai. With Arya.ai, Aurionpro will enhance its portfolio of enterprise fintech offerings to expedite adoption of AI that is responsible, accurate, and auditable.

 
 
Aurionpro Solutions Ltd. will acquire a majority stake (67%) in Arya.ai. This acquisition will bring products and expertise in Artificial Intelligence, Deep Learning, Intelligent Automation, PaaS, Autonomous AI Platforms, and more, to complement and strengthen Aurionpro’s industry leading portfolio.
The transaction comprises acquisition of shares held by the existing shareholders and subscription of new equity capital in the company. This will be an all-cash deal. The aggregate investment including  secondary acquisition and fund infusion is approximately 16.5 MN USD.
By integrating Arya.ai’s cutting-edge AI cloud platform, with Aurionpro’s comprehensive suite of offerings, the company will create an industry leading Enterprise AI platform focused on creating value for financial institutions globally. 
Commenting on the acquisition, Ashish Rai, CEO of Aurionpro Solutions, stated, “The acquisition of Arya.ai marries Aurionpro’s portfolio of industry leading enterprise software with one of the most mature Enterprise AI platforms focused on Banks and Insurers. We are incredibly excited about working with Arya.ai and our wider ecosystem partners to build out the leading Enterprise AI platform, for the financial industry worldwide.”
“Our decade long experience in building tools/platform for deep learning helped us to build a truly verticalized AI Operating System for Banking and Insurance.” Says Vinay Kumar CEO/Founder of Arya.ai. “Together with Aurionpro, we are going to build a new generation of Enterprise AI software for Banks and Insurers that truly embeds AI, augmenting a task or Autonomous Agents that can take over entire transactions”. 
Founded in 2013 by Vinay Kumar and Deekshith Marla, Arya.ai has been one of the first ‘AI’ startups to use Deep Learning and deploy in enterprises. Arya.ai’s BFSI PaaS offerings include Arya API with 80+ ML models, Libra for fine-tuning SOTA ML models, and AryaXAI for AI governance.
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Artificial Intelligence

Free Your Hands, QIDI Vida Smart AR Glasses Lead the Way in New Sports Experience.

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NEW YORK, April 19, 2024 /PRNewswire/ — Outdoor smart AR glasses, QIDI Vida, will officially launch on 23rd April on the Kickstarter platform.  QIDI Vida integrates the many functions of smart watches, sports headphones, cycling computers, heart rate monitors, and walkie-talkies using AR+AI technology, allowing users to bid farewell to cumbersome device management and enjoy outdoor sports anytime, anywhere with just one pair of glasses.

 
Function:
QIDI Vida uses high-tech HUD (Head-Up Display) which is similar to the technology used for aircrafts and premium cars and introduces it to the sports industry. Users can activate the HUD function at any time using voice control, enabling them to focus on the route ahead whilst simultaneously having access to information such as navigation, speed, heart rate, power and cadence, among other metrics. Another great function of the QIDI Vida is that users can also enjoy audiovisual entertainment through the optically perceived 100-inch AR  HUD screen, when having some down time. 
As cyclists and hikers often travel in groups, QIDI Vida supports eSIM and team functionality, allowing real-time voice communication without releasing handlebars, and users can monitor their groups’ real-time locations. The glasses also have comprehensive sensing and monitoring capabilities including temperature, humidity, UV, air pressure, geomagnetism and acceleration. In addition to obtaining environmental and health information, it also features health warnings such as altitude sickness symptoms and high heart rate, as well as fall and collision detection functions. And, in the event of danger, it can send distress signals to teammates.
Perks:
QIDI Vida has a global voice recognition and interaction feature that allows you to control all functions within the device by voice. To better provide users with an immersive sports experience, QIDI Vida’s intelligent system will have the capability to instantly gather personalised sports data, enabling it to deliver timely voice alerts and broadcasts, including the duration of exercise, distance, the environment and the weather – all tailored to the user’s preferences.
QIDI Vida enables voice-controlled photos and video recordings, allowing users to capture moments whilst cycling or hiking without the need to stop. QIDI Vida supports connections with common cycling smart hardware such as Garmin, Wahoo, Apple, and Samsung, supports GPX route files, and is compatible with professional sports apps such as Strava, Keep, Zwift, Apple Health, and All Trails.
QIDI Vida stands out for its lightweight and comfortable design with a dual lens for a full-colour data display, unlike competing AR glasses that typically have a single lens and limited colour. This innovation significantly enhances and augments the user’s sports and reality experience.
QIDI Vida will launch on the Kickstarter platform: https://www.kickstarter.com/projects/109560964/qidi-vida-smart-ar-glasses-for-sports
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Risk Analytics Market worth $180.9 billion by 2029 – Exclusive Report by MarketsandMarkets™

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CHICAGO, April 19, 2024 /PRNewswire/ — The growing use of real-time monitoring and advanced analytics, integration with cutting-edge technologies like blockchain and IoT, and an emphasis on cybersecurity, cross-industry applications, and regulatory compliance are the key factors that will shape the risk analytics market in the future. The market’s development will also be influenced by collaborative risk management, improved user experience, and an increasing focus on ESG factors and risk culture.

The Risk Analytics Market is estimated to grow from USD 59.7 billion in 2024 to USD 180.9 billion in 2029, at a CAGR of 24.8% during the forecast period, according to a new report by MarketsandMarkets™.  Several trends fuel the global spread of Risk Analytics. Increasingly Increasing Data Complexity, Rising Cybersecurity Threats and Rising Adoption of Cloud-Based Solutions A growing talent pool of data scientists and engineers is building the necessary tools and infrastructure. Governments are recognizing the potential of risk analytics for economic growth and are investing in research and development. These trends make DI more accessible and valuable, leading to its global adoption.
Browse in-depth TOC on “Risk Analytics Market”260 – Tables 60 – Figures350 – Pages
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=210662258
Scope of the Report
Report Metrics
Details
Market size available for years
2019–2023
Base year considered
2023
Forecast period
2024–2029
Forecast units
USD Billion
Segments Covered
Offering,Risk Type, Risk stages, Vertical, and Region.
Geographies covered
North America, Europe, Asia Pacific, Middle East & Africa, and Latin America
Companies covered
IBM (US), SAS Institute (US), Oracle (US), FIS(US), Moody’s Analytics (US), ProcessUnity(US), ServiceNow (US), Marsh (US), Aon (UK), MetricStream (US), Resolver (Canada), SAP (Germany), Milliman(US), LogicManager(US), Provenir(US), SAI360(US), Deloitte(UK), OneTrust(US), Diligent(US), Alteryx(US), CRISIL(India), Archer(US), ZestyAI(US), Fusion Risk Management(US), RiskVille(Ireland), SPIN Analytics(UK), Kyvos Insights(US), Imperva(US), Cirium(UK), Quantexa(UK), ClickUp(US), Sprinto(US), Ventiv(US), Adenza(US), Centrl.AI(Canada), SafetyCulture(Australia), Quantifi(US), CubeLogic(UK), Onspring(US), Riskoptics(US)
 
By offering the services segment to account for higher CAGR during the forecast period
In the Risk Analytics Market, the highest CAGR of services is fueled by Increasing Complexity of Risks, AI and machine learning advancements, big data analytics integration, business process optimization, cloud-based solutions adoption, data-driven culture, and diverse industry adoption. These trends reflect a global shift towards leveraging data for competitive advantage, driving a continuous need for sophisticated risk analytics services across sectors. As businesses prioritize agility, the growth of services in the Risk Analytics Market is driven by the need for effective risk management strategies in an increasingly complex and uncertain business environment.
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By Type, GRC software is expected to hold the largest market size for the year 2024
GRC software typically offers comprehensive solutions that cover a wide range of risk management needs, including compliance management, policy management, audit management, and risk assessment. They also provide organizations with enhanced visibility into their risk landscape. Through features such as risk assessment, risk monitoring, and reporting, organizations can identify and prioritize risks more effectively, enabling proactive risk management strategies.  GRC software streamlines risk management processes through automation, reducing manual effort and increasing efficiency. Tasks such as risk assessments, control testing, and incident management can be automated, freeing up resources to focus on strategic risk mitigation efforts. the combination of comprehensive functionality, regulatory compliance support, efficiency gains, scalability, integration capabilities, and culture enhancement makes GRC software a preferred choice for many organizations seeking to manage risk effectively.
By Vertical, Healthcare & Life Sciences is projected to grow at the highest CAGR during the forecast period
The Healthcare and Lifesciences is experiencing a surge in the adoption of risk analytics due to a confluence of factors. Healthcare providers and life sciences companies wants to ensure the safety and well-being of patients. Risk analytics helps in identifying potential risks to patient safety, such as medication errors, adverse events, and medical device failures. The healthcare and life sciences industries are heavily regulated, with strict guidelines for patient care, data privacy, drug development, and clinical trials. Risk analytics helps organizations ensure compliance with these regulations by identifying and mitigating risks of non-compliance.  Healthcare organizations and life sciences companies also face financial risks associated with fraud, billing errors, revenue cycle management, and reimbursement challenges. Risk analytics helps in detecting anomalies and optimizing financial processes to mitigate these risks.
Asia Pacific is expected to grow at the highest CAGR during the forecast period
The Asia-Pacific (APAC) region is experiencing rapid growth in the Risk Analytics Market, boasting the highest Compound Annual Growth Rate (CAGR). This surge is primarily attributed to rising demand for data-driven decision-making solutions, expanding digital transformation initiatives across industries.. Moreover, the region’s favorable regulatory environment, growing investments in big data analytics, and the integration of advanced technologies like the Internet of Things (IoT) further propel APAC’s dominance in Risk Analytics Market growth.
Top Key Companies in Risk Analytics Market:
The major risk analytics software and service providers include IBM (US), SAS Institute (US), Oracle (US), FIS(US), Moody’s Analytics (US), ProcessUnity(US), ServiceNow (US), Marsh (US), Aon (UK), MetricStream (US), Resolver (Canada), SAP (Germany), Milliman(US), LogicManager(US), Provenir(US), SAI360(US), Deloitte(UK), OneTrust(US), Diligent(US), Alteryx(US), CRISIL(India), Archer(US), ZestyAI(US), Fusion Risk Management(US), RiskVille(Ireland), SPIN Analytics(UK), Kyvos Insights(US), Imperva(US), Cirium(UK), Quantexa(UK), ClickUp(US), Sprinto(US), Ventiv(US), Adenza(US), Centrl.AI(Canada), SafetyCulture(Australia), Quantifi(US), CubeLogic(UK), Onspring(US), Riskoptics(US). These companies have used both organic and inorganic growth strategies such as product launches, acquisitions, and partnerships to strengthen their position in the Risk Analytics Market.
Recent Developments:
In March 2024, Orcale announced Oracle Risk Management Cloud in Release 24B. It offers comprehensive solution designed to help organizations identify, assess, and mitigate risks across their business operations. It offers advanced analytics, automation, and collaboration tools to streamline risk management.In March 2024, FIS Global announces card fraud detection capabilities leveraging artificial intelligence (AI) with aim to bolster FIS’s ability to identify and prevent fraudulent transactions, providing greater security for cardholders and financial institutions alike.In March 2024, Aon acquired an AI-powered platform to assist fleet and mobility clients in making data-driven decisions, enhancing operational efficiency and risk management. The platform utilizes artificial intelligence to analyze data and provide insights, enabling clients to optimize their fleet operations and improve decision-making processes.In March 2024, Crisp joined Resolver, with the aim to enhance Resolver’s risk intelligence capabilities by integrating Crisp’s expertise and technology into its platform, offering clients improved risk assessment and mitigation tools.In February 2024, SAS partnered with Carahsoft to bring analytics, AI, and data management solutions to the public sector. The aim is to leverage SAS’s expertise in advanced analytics and Carahsoft’s extensive government market reach to offer tailored solutions that enable public sector organizations to harness the power of data for informed decision-making and improved outcomes.Inquire Before Buying@ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=210662258
Risk Analytics Market Advantages:
By offering insights into potential risks, opportunities, and trends, risk analytics helps organisations make data-driven decisions that improve strategic planning and resource allocation.In order to improve risk management procedures and lessen exposure to possible threats, risk analytics solutions assist businesses in identifying, evaluating, and mitigating risks across a range of business activities, including finance, operations, and compliance.Through real-time monitoring and anomaly detection made possible by risk analytics, organisations may proactively address shifting market situations, legal requirements, and cybersecurity threats.Risk analytics solutions assist organisations lower operating costs, increase productivity, and streamline compliance activities, which results in cost savings and resource optimisation. They do this by streamlining risk management procedures and automating routine work.Accurate risk assessments, audit trails, and reporting capabilities are just a few of the ways that risk analytics solutions help organisations comply with regulations and stay out of trouble.Organisations can enhance their resilience and competitiveness by anticipating and mitigating potential hazards before they materialise through the use of predictive modelling and advanced analytics approaches in risk analytics.Report Objectives
To define, describe, and predict the Risk Analytics Market by offering, risk type, risk stages, vertical, and regionTo provide detailed information about the major factors (drivers, restraints, opportunities, and challenges) influencing the market growthTo analyze the opportunities in the market and provide details of the competitive landscape for stakeholders and market leadersTo forecast the market size of segments with respect to five main regions: North America, Europe, Asia Pacific, Middle East & Africa, and Latin AmericaTo profile the key players and comprehensively analyze their market rankings and core competenciesTo analyze the competitive developments, such as partnerships, product launches, and mergers & acquisitions, in the Risk Analytics MarketBrowse Adjacent Markets: Analytics Market Research Reports & Consulting
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