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Ride-Sharing Market Global Opportunity Analysis and Industry Forecast – 2022-2029, Global Industry Analysis, and Forecast to 2029

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Pune, Jan. 16, 2023 (GLOBE NEWSWIRE) — Ride-Sharing Market is estimated to reach USD 305.43 Billion by 2029, up from USD 85.8 Billion in 2021, at a compound annual growth rate (CAGR) of 17.2 %, states Maximize Market Research.

Ride-Sharing Market Scope and Research Methodology:

The report presents a comprehensive analysis of the global ride sharing market to the stakeholders who want to invest in the market. The report includes past and current scenarios of the ride sharing market with the forecasted market size. The report covers all the aspects of the market with a thorough study of key players that include market leaders, followers, and new entrants.

The research study is provided by using an in-depth analysis of the market insights, facts, historical data, and industry-validated market statistics. These estimates are based on an appropriate set of assumptions and methodologies. The bottom-up approach has been used to collect the data and analyze the market to figure out the market size by volume and value by mentioned segments. Major key players in the ride sharing market are identified through secondary research and their market revenues are determined through a study of the top manufacturers’ annual and financial reports, interviews with company key persons, and industry professionals such as experienced front-line staff, CEOs, and marketing executives. By understanding the scope of the market analyst has segmented the market based on service type, business model, vehicle type, target audience, and region. The growth amongst these segments will help to analyze the industries and provide the users with a valuable market overview and market insights to make strategic decisions for identifying core market applications.

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Global Ride-Sharing Market Overview

Ridesharing is an alternate means of transportation in which many people share a vehicle, to complete a trip. The Ridesharing services have several advantages including easy booking options, low carbon footprints, affordable door-to-door ride services, and no parking issues. The growing popularity of ride-sharing may have a chance to lower the sales of the global automobile. However, ride-sharing is unlikely to account for around one-third of the expected rise in car sales due to urbanization and economic development. China is one of the key markets for ride-sharing. The other major regional market in this field is the United States, where Uber and Lyft are leading key players.

Global Ride-Sharing Market Dynamics

A vehicle’s ownership costs include finance, fuel, maintenance, registration/taxes, and maintenance & repair as well as depreciation. The expense of owning a vehicle rises year after year. Fuel prices and maintenance expenses have risen dramatically in recent years and this trend is expected to continue. Maintenance costs, such as part and component replacement and labor fees, have also risen. Furthermore, with the implementation of strict emission standards, automobiles require better, more advanced, and more expensive after-treatment devices. These things add together to raise the overall cost of car ownership. Daily commuters, particularly office commuters, prefer ride-sharing services, which is expected to boost the ride-sharing market’s growth during the forecast period.

The primary factor driving the growth of ride-sharing services is a significant increase in the preference for taxi and bike-sharing among regular office commuters. Furthermore, the growth of services given by market leaders such as Uber and Ola as well as the ability to choose convenient pick-up and drop-off locations are pushing customers to use ride-sharing services.

Stringent vehicle registration and license rules make it difficult for an app-based taxi fleet that provides ride-sharing services. This has slowed the adoption of ride-hailing services in some countries and regions.

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Ride-Sharing Market Regional Insights

Asia Pacific is expected to hold the largest ride-sharing market share by 2029. In the Asia Pacific, emerging countries are likely to have significant growth, mainly in urban transportation. India is the leading market in terms of ridesharing usage frequency, ahead of China and the United States. The high population growth rate and rising urbanization have increased the demand for transportation in this region.

North America leads the global ride-sharing market in terms of revenue share because of the high concentration of market vendors in the United States. Furthermore, North America is the world’s greatest technology investor and inventor, which supports the region’s rapid rise in ride-sharing. Furthermore, the region is an industrial hub that promotes the implementation of the corporate model of ride-sharing in the region.

Market Size in 2021 USD 85.8 billion
Market Size in 2029 USD 305.43 billion
CAGR 17.2 % (2022-2029)
Forecast Period 2022-2029
Base Year 2021
Number of Pages 213
No. of Tables 110
No. of Charts and Figures 112
Segment Covered Service Type, Business Model, Vehicle Type, Target Audience, and region.
Regional Scope North America, Europe, Asia Pacific, Middle East and Africa, South America
Report Coverage Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis.

Global Ride-Sharing Market Segmentation

By Service Type:

  • E-hailing
  • Car sharing
  • Station-based mobility
  • Car rental

By Business Model:

  • P2P car sharing
  • Corporate Car Sharing

By Vehicle Type:

  • Sedan/Hatchback
  • UV
  • Van
  • Buses & Coaches
  • Bikes
  • Electric Vehicle

By Target Audience:

  • Corporate
  • Families
  • Daily commuters
  • Others

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Global Ride-Sharing Market Key Competitors:

  • Uber Technologies Inc (US)
  • Lyft, Inc (US)
  • Wingz, Inc (US)
  • Curb Mobility (US)
  • GoKid Corporation (US)
  • Via Transportation, Inc. (US)
  • Hertz Corporation (US)
  • AVIS Budget Group (US)
  • Hitch Technologies, Inc (US)
  • Flywheel (US)
  • Ziro (US)
  • Alto (US)
  • Turo (US)
  • BlaBlaCar (France)
  • Gett (UK)
  • Cabify (Spain)
  • Bhuumi Ride (India)
  • OLA Cabs (India)
  • DiDi Global Inc (China)
  • Grab (Singapore)
  • Bridj (Australia)
  • Bolt Technology OÜ (Estonia)
  • GO-JEK (Indonesia)
  • Angkas (Philippine)
  • SafeBoda (Uganda)

Key questions answered in the Global Ride-Sharing Market are:

  • What is the growth rate of the Global Ride-Sharing Market during the forecast period?
  • What is the nature of competition in the Global Ride-Sharing industry in developed economies and developing economies?
  • Which are the top five key market leaders in the Ride-Sharing Market?
  • What will be the future innovation in the Ride-Sharing market in the upcoming six years?
  • Which Service Type and Vehicle Type will lead the largest share of the Market?
  • What are the growth drivers, restraints, and challenges of the Ride-Sharing industry?
  • What will be the CAGR and size of the Ride-Sharing Market for the base year and forecast period?

Purchase Report:

https://www.maximizemarketresearch.com/checkout/?method=PayPal&reportId=22421&type=Single%20User

Key Offerings:

  • Market Share, market size, its growth rates & Forecast by Revenue | 2022−2029
  • Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
  • Market Segmentation – A detailed analysis by Service Type, Business Model, Vehicle Type, Target Audience, and region.
  • Competitive Landscape – Top Key players and Other Prominent Vendors

Maximize Market Research is leading research firm, has also published the following reports:

Ride-hailing MarketMarket size is expected to reach US$ 181.69 Bn. by 2029, at a CAGR of 13.20% during the forecast period. Rising the price of fuel and the high maintenance cost of vehicles propel the growth of this market.

Shared Mobility MarketThe market size was valued at US$ 443.81 Bn. in 2021 and the total revenue is expected to grow at 7.67 % during the forecast period. Customers are selecting more cost-effective and attractive modes of transportation over personal driving preferences. These factors are likely to accelerate the growth market over the forecast period.

Autonomous / Self-Driving Cars MarketThe market size was at USD 20.5 Million in 2021 and the total revenue is expected to grow at 13.5% of CAGR during the forecast period. The recent technological developments in the sectors of artificial intelligence, machine learning, and other sensors are driving market growth in the forecast period.

Vehicle Tracking Systems MarketThe market is expected to reach USD 84.22 billion by 2029. Vehicles That Integrate Real-Time Surveillance services are expected to increase the Vehicle Tracking Systems market growth.

Car DVR MarketThe market size was valued at US$ 2889.6 Million in 2021 and the total revenue is expected to grow at 5.10% during the forecast period. The global Car DVR market is forecast to be driven by falling camera prices and advancements in wireless technologies.

About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

Contact us for a more detailed view at: [email protected]  


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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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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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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. Aashish MehraMarketsandMarkets™ INC.630 Dundee RoadSuite 430Northbrook, IL 60062USA: +1-888-600-6441Email: [email protected] Insight: https://www.marketsandmarkets.com/ResearchInsight/risk-analytics-market.aspVisit Our Website: https://www.marketsandmarkets.com/Content Source: https://www.marketsandmarkets.com/PressReleases/risk-analytics.asp
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