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Farmington, Jan. 30, 2023 (GLOBE NEWSWIRE) — The global Smart Advisors market accounted for USD 1,049.2 Million in 2022 and is expected to reach USD 4,498.1 Million by 2030, growing at a CAGR of 20.2% from 2023 to 2030. A smart advisor, also known as a smart advisor program, is an application capable of understanding natural language and performing all of the user’s electronic activities on their behalf. Personal assistants used to take dictations, read aloud messages or emails, search up phone numbers, anticipate requests, make calls, and remind users of upcoming appointments. A savvy advisor can perform these tasks and more. In today’s intelligent advisers, artificial intelligence, voice recognition, and machine learning are all incorporated. As end users interact with their intelligent advisers, the Artificial Intelligence software employs a sophisticated algorithm to learn from the data inputs and improve its ability to forecast end-user requirements. Future intelligent advisors would be created using modern cognitive computing technology.
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This enables a savvy adviser to comprehend and execute multi-step requests, before moving on to more complex activities such as flight booking. Smart advisers are distinct from digital assistants, a second sort of AI program that individuals employ. Smart advisers concentrate on a topic, whereas digital assistants concentrate on a task. For instance, a Smart Advisor can assist a firm in determining which physicians have the highest or lowest cost and performance. Using an advanced IT (Information Technology) platform, a Smart Advisor sifts through the whole database of physicians to identify just those who should be examined based on statistical significance, caseload, and other essential characteristics.
Smart Advisors Market Recent Developments:
- In December 2022, IBM announced it is working with the Cloud Security Alliance — a global not-for-profit dedicated to defining standards, certifications, and best practices to help ensure secured cloud computing that aims to further advance security and risk management of cloud within financial services.
- In November 2020, eGain, a leading customer engagement platform provider, today announced eGain SmartIVR™, an all-in-one solution to modernize IVR-based customer engagement.
Smart Advisors Market Segmentation Analysis:
Smart Advisor enables advisers to transmit any document through email, print-and-deliver, or postal mail, depending on the client’s preferred method of delivery. At the level of the corporation, it saves a great deal of time and money. The majority of investors prefer to get information online with a link to a branded website that can display content effectively on desktop and mobile devices.
The clients of the smart adviser service include banks, broker-dealers, mutual funds, retirement service providers, corporate issuers, and wealth and asset management companies.
In 2021, the mobile platform segment was the largest, and with a CAGR of 7.8% during the projection period, it is anticipated to remain the largest. The increasing number of mobile users and the widespread deployment of smart advisor technology to give consumers real-time notifications through mobile augmented reality are projected to fuel market expansion. Bring your own device (BYOD) is gaining popularity in the business world.
The financial services sector is anticipated to account for more than 30 percent of the market. In financial institutions, smart advisor technology is a digital communication platform primarily intended to increase the effectiveness and efficiency of financial advisors.
Many individuals have made selections regarding what to purchase from store shelves based on factors such as the behavior and preferences of others. The mix of new technologies such as Big Data, AI, IoT, and automation have dramatically disrupted the retail industry during the past few years.
Investors in the manufacturing industries of emerging economies like China and India have initiated a number of new investments and projects. The top priorities are cutting expenses, which is crucial due to increased compliance costs and a focus on regulations, digitizing the sales force, and making better use of technology overall. Even while there are advantages, disruptive investors are still in their infancy and have not yet attained IT investments or economies of scale. In addition, the failure of specific platform technologies poses a threat to individual businesses, particularly during the ramp-up period of a new company’s launch.
The typical investor and the disruptor are the smart advisor’s most common clients kinds. In addition, traditional insurers are working on establishing collaborative ventures with tech businesses in order to compete with disruptors and profit from smart advice in China, India, Hong Kong, and Japan. In the Asia-Pacific area, technology is increasingly required to ensure the seamless operation of the manufacturing industry.
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Scope of Report:
|Growth Rate||20.2% from 2023 to 2030|
|Market Size in 2022||USD 1,049.2 Million|
|Revenue Forecast by 2030||USD 4,498.1 Million|
|By Component||Software, Services|
|By Industry||Financial Services, Healthcare, Consumer Electronics, Retails, Travel & Hospitality, Government, Education, Others|
|By Applications||Websites, Social Media, Mobile Platform, Contact Centers|
|By Companies||IBM Corporation, eGain Corporation, Creative Virtual Pvt. Ltd, CX Company Limited, 24/7 Customer Inc., Nuance Communications Inc., Artificial Solutions International AB, Next IT Corporation, Speakoit Inc., Codebaby Corporation, Broadridge Solutions, Netformx, Speaktoit Inc., and Others|
|Historical Year||2017 to 2021|
|Forecast Year||2023 to 2030|
The growth of the smart advisor sector over the previous few years is anticipated to continue in the following year. The size of the global market is expanding due to factors such as increased spending on research & development, improved resource management, and increased company competitiveness. New entrants, strategies for product innovation in a variety of industries, and technological advancements are anticipated to be among the most significant factors driving market expansion.
The expansion of the market is primarily driven by the increasing usage of artificial intelligence technology and cloud-based and Internet of Things-based solutions in various end-user industries. New technologies such as speech recognition and machine learning, the growing usage of smartphones and the requirement for the internet, and the rise in the use of smart advisor applications by financial institutions and small and medium-sized organizations are expected to drive market growth over the forecast period.
Smart Advisors Market Key Segments Covered:
Top Market Players:
IBM Corporation, eGain Corporation, Creative Virtual Pvt. Ltd, CX Company Limited, 24/7 Customer Inc., Nuance Communications Inc., Artificial Solutions International AB, Next IT Corporation, Speakoit Inc., Codebaby Corporation, Broadridge Solutions, Netformx, Speaktoit Inc., and Others.
- Financial Services
- Consumer Electronics
- Travel & Hospitality
- Social Media
- Mobile Platform
- Contact Centers
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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Belgian Commitment to Partnership Supports a New Frontier of Europe-US Space Research
BRUSSELS, Dec. 10, 2023 /PRNewswire/ — Belgian Prime Minister Alexander De Croo has travelled to Houston, United States, to meet Raphaël Liégeois, the Belgian career astronaut selected as part of the European Space Agency (ESA) astronaut class of 2022. De Croo’s visit coincides with the ESA cohort’s familiarisation trip to NASA’s Johnson Space Centre, which is the precursor to a further two years of training, delivered in Houston, to prepare the astronauts for their respective missions on the International Space Station. The visit signals a new phase of the long-standing collaboration between Europe and the United States on space research and exemplifies Belgium’s commitment to partnerships in facing global challenges.
Belgium’s expertise in aerospace, and in science more generally, is internationally recognised – in terms of both training and industry. Belgium is a founding member of the ESA and its fifth-largest funder. The country’s support of the ESA shows its commitment to shaping the development of Europe’s space capability and ensuring that investment in space continues to deliver benefits to the citizens of Europe and the world.
“For Belgians, the sky isn’t the limit, the universe is,” said De Croo. “Today, we are very proud to see Raphaël take this important step in his career as an astronaut. He will be an important role model for many generations of STEM students to come. Space research and innovation hold particular importance for Belgium; they are powerful economic drivers which foster the growth of high-tech industries and create jobs – as evidenced by the number of Belgian companies on the cutting edge of aeronautics.”
The 17 members of the ESA astronaut class of 2022 were selected from a pool of over 23,000 applicants. The process, designed to bring together the finest scientific minds that Europe has to offer, took place over a period lasting 18 months.
The selection of Raphaël Liégeois is testament to Belgium’s focus on embracing openness, driven by innovation, partnerships, and diversity, to create solutions that drive progress for all.
Located in the heart of Europe, Belgium is one of the most open economies in the world, counting 11.5 million people with a reputation for innovation, hard work, partnership, and multilingualism. Strategically located between Germany, the Netherlands, France, and Luxembourg, and only a stone’s throw from the UK, it lies at the centre of the richest and most densely populated area in Europe. A member of the European Union, Belgium enjoys full access to the world’s most advanced single market and customs zone which ensures extensive frictionless trade.
Belgium boasts a highly developed transport infrastructure, including the second largest seaport in Europe (Antwerp). Belgium is home to world-leading research and innovation facilities, multinational corporations, and artisanal businesses supported by the investor-centric approach of public services.
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Savory & Partners: Digital Nomad Visas Sparking a Migration Boom
DUBAI, UAE, Dec. 9, 2023 /PRNewswire/ — The simplicity and lax requirements of digital nomad visas have made them easily accessible, and countries like Portugal and Spain, which have excellent infrastructure, great internet connection, and an outstanding standard of living, draw in more digital nomads by the day, according to experts at Dubai-headquartered citizenship and residency by investment advisors Savory and Partners.
A recent research quoted by the company estimates that there are 16.9 million digital nomads roaming the globe. This is a whopping 162% increase from 2019, just four years earlier.
As soon as Portugal introduced its digital nomad visa in October of 2022, the applications started pouring in. While the government hasn’t announced the number of applications it has received, Portugal’s Labour Minister did announce that the country approved 550 applications within the first six months.
Two months after launching its visa in September of 2021, Greece received 2,918 applications, approving an astonishing 1,693 applicants. The government is yet to release any new statistics, but going off that outstanding start it is safe to assume it is still garnering massive attention.
Germany also boasts impressive numbers, having issued a total of 3,638 visas in just one year since the introduction of its visa in 2018.
According to Residency Malta, the government branch responsible for the digital nomad visa, it has issued 1,041 visas to date, with an average approval rate of 78%.
Croatia, one of the first countries to introduce a pure digital nomad visa in early 2021 as a response to the rise in remote workers, has approved 680 applications, while 672 are still pending approval.
Not just Europe
“It’s not just Europe but even Barbados’ digital nomad visa, dubbed the Welcome Stamp, has been doing outstandingly well, receiving a total of 3,511 applications between 2020 and 2022”, a digital nomad specialist at Savory & Partners reports.
While digital nomads typically use visa-free access or visas to stay in countries for a few months at a time before moving on to the next, digital nomad visas provide a sense of comfort and stability that aligns perfectly with their lifestyle, giving them ample time to enjoy the country they are in before moving on to the next.
The rapid growth in application numbers and the surging demand for digital nomad visas isn’t surprising. They are extremely simple to apply to, have fast processing times ranging from a few days to a couple of months, and they do not require any business establishment or investment.
Portugal’s digital nomad visa, for example, only requires applicants to prove a monthly income of €3,040 per month, while Spain’s visa has a lower threshold of just €2,160 per month.
Savory & Partners is an accredited agent for multiple governments where citizenship by investment is offered. The company has coverage in over 20 jurisdictions, including Europe and was the first firm to obtain all five authorised agent licenses for the governments of the Caribbean Islands. It has processed second passports for over 4,000 citizens with a 100 per cent success rate.
With a presence in 3 continents and 7 countries and more than 60 experts worldwide, the company’s multinational staff comprises advisors who guide clients in English, Arabic, Farsi, French, Spanish and Hindi.
To know more about Savory & Partners, visit www.savoryandpartners.com.
For more information, please send an email to [email protected] can also call +971 04 430 1717 or send a WhatsApp message to +971 54 440 2955.
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Robotic Lawn Mower Market to Reach $2.4 Billion, by 2032 at 10.9% CAGR: Allied Market Research
The increasing demand for smart appliances for garden maintenance by global consumers, along with the development of IOT enabled features is fueling the growth of the robotic lawn mower market.
WILMINGTON, Del., Dec. 8, 2023 /PRNewswire/ — Allied Market Research published a report, titled, “Robotic Lawn Mower Market by Range (Low-Range Robotic Lawn Mower, Medium-Range Robotic Lawn Mower, and High-Range Robotic Lawn Mower), End User (Residential User and Commercial User), and Distribution Channel (Retail and Online): Opportunity Analysis and Industry Forecast, 2023-2032”. According to the report, the global robotic lawn mower market size was valued at $838.5 million in 2022, and is projected to reach $2.4 billion by 2032, growing at a CAGR of 10.9% from 2023 to 2032.
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Prime determinants of growth
The robotic lawn mower market is driven by factors such as increase in demand for automation, rise in advancements for technology, and increase in popularity of online platforms. However, the rise in regular maintenance and repair costs restricts market growth. Moreover, the increase in demand for rental robotic lawn mowers offers new opportunities in the coming years.
Report coverage & details:
Market Size in 2022
Market Size in 2032
No. of Pages in Report
Range, End User, Distribution Channel, and Region
Increase in demand for automation
Rise in advancements for technology
Reduction in the labor costs
Increase in demand for rental robotic lawn mowers
Growth in the adoption of internet of things
Declining Cost of Batteries/Fuel Cells
Less adoption in developing markets
Regular maintenance and repair costs
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The medium range robotic lawn mower segment to maintain its leadership status throughout the forecast period
Based on range, the medium range robotic lawn mower segment dominated the market in 2022 accounting for more than half of the market share and is expected to dominate the market during the forecast period. This segment is projected to manifest the highest CAGR of 10.4% from 2023 to 2032, owing to the increase in residential and commercial spaces such as buildings, corporate spaces, sports centers, and public parks, which has fueled the requirement for medium range robotic lawn mowers.
The residential segment to maintain its leadership status throughout the forecast period
Based on end user, the residential segment dominated the market in 2022 accounting for less than three-fourths of the market share and is expected to dominate the market during the forecast period. This segment is projected to manifest the highest CAGR of 10.7% from 2023 to 2032, owing to the increase in the demand for low and medium range robotic lawn mowers in the residential sector due to the increased requirement for lawn care and maintenance.
The retail segment to maintain its lead position during the forecast period
On the basis of the distribution channel, the retail segment dominated the market in 2022 accounting for less than half of the market share and is expected to maintain its dominance during the forecast period. The increased demand for ecologically friendly and sustainable robotic lawn mowers, which is being driven by the rising awareness of environmental challenges, is one of the main factors boosting retail sales.
Europe to maintain its dominance by 2032
Based on region, Europe held the highest market share in terms of revenue in 2022, accounting for less than two-fifths of the market share and is expected to maintain its dominance during the forecast period. The growing popularity in artificial intelligence for performing day-to-day activities with higher efficiency is among the primary factors driving the Europe robotic lawn mower market.
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Leading Market Players: –
Robert Bosch GmbHHusqvarna ABHonda Motor Co., Ltd.Zucchetti Centro Sistemi S.p.A.Stiga C S.a.r.l.Andreas Holding AG & Co. KGPositec Tool CorporationWiper S.R.L.Suzhou Cleva Electric Appliance Co., Ltd.Stanley Black & Decker, Inc.The report provides a detailed analysis of these key players in the robotic lawn mower market. These players have adopted different strategies such as acquisition, partnerships, and new product launches to increase their market share and maintain dominant shares in the market. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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