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Global Construction Equipment Market is projected to be valued at USD 211.76 Billion by 2027, growing at a CAGR of 6.33%: Bonafide Research

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Clifton, New Jersey, Feb. 28, 2023 (GLOBE NEWSWIRE) — The demand for construction equipment globally is increasing rapidly due to economic growth, infrastructural activities, urbanization, population growth, technological advancements, and governmental policies. The global economy experienced a recovery following the significant slowdown caused by the COVID-19 pandemic in 2020. According to the International Monetary Fund (IMF), the global economy grew by an estimated 6.0% in 2021. Governments worldwide are investing in infrastructure development projects such as roads, bridges, airports, and railways, which require construction equipment, leading to a higher demand for such equipment. According to the United Nations, the global urbanization rate in 2021 was estimated to be around 56% of the world’s population living in urban areas. The American region has higher rates of urbanization than others, such as Africa and Asia. Technological advancements in construction machinery are helping to improve safety, increase efficiency, reduce costs, and enhance sustainability.

Key Takeaways:

  • Global Construction Equipment Market grew historically at a growth rate of 3.49%.
  • Earth Moving equipment held the highest share of 49.21% in 2021, driven by the increased use of Motor Graders and Excavators.
  • The Asia-Pacific region leads the global construction equipment market with significant construction projects underway in China, India, Indonesia, and South Korea.
  • Caterpillar & Komatsu are the leading players in the global construction equipment market.
  • Key construction equipment manufacturers across the globe have launched their electric construction equipment to mitigate the use of conventional fuel vehicles, in line with their sustainability policies.

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Significant technological advancements in construction equipment like telematics and IoT, automation and robotics, artificial intelligence, electrification, augmented reality, and virtual reality has increased the efficiency and quality of construction globally. This enables remote monitoring, predictive maintenance, and other capabilities that can help improve equipment performance, reduce downtime, and enhance safety. Examples include autonomous excavators, bulldozers, and other heavy machinery. AI is being used to enhance the capabilities of construction equipment, including the use of computer vision to enable machines to recognize and respond to their environment and the use of predictive analytics to optimize equipment performance and reduce downtime. The electrification of construction equipment can help reduce emissions, lower operating costs, and enhance efficiency. This includes the development of electric excavators, bulldozers, and other heavy machinery. AR and VR are being used to enhance training and simulation capabilities, allowing operators to practice using equipment in a virtual environment before operating it on a construction site.

Most construction companies are facing heavy equipment operator shortages throughout the world. Manufacturers are increasingly focusing on technology such as robotics and automation to combat labor shortages while also completing tasks faster, reducing waste, and providing high yields with improved quality. Experts believe that one of the best solutions to combat labor shortages is to automate construction equipment, especially in remote areas for repetitive tasks and in locations with significant labor shortages. Making existing equipment autonomous is a trend in the construction equipment market. Companies are interested in automation, but the implementation cost for the deployment of technology is high. Therefore, construction companies are planning to rent these machines to stay competitive by using new technology without the potential barriers of high investments.

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Construction machinery is used in construction projects to load and unload materials, drive tools, and materials into and out of a construction site, feed or retrieve material into a processing machine, handle raw materials by transporting them, cut trees and other vegetation, and many other applications. The main products of construction machinery are earthmoving, material handling, building and road construction equipment, and autonomous construction equipment. “Earthmoving” refers to machinery that is used for digging and moving large amounts of soil. The various applications involved are excavation and mining, lifting and material handling, earthmoving, transportation, and other applications. The various end-users involved are oil and gas, construction and infrastructure, manufacturing, mining, and other end-users. Increasing investment in infrastructure is anticipated to contribute to the construction machinery market’s growth.

Rising employment opportunities and a shift towards urban areas have led to increased public and private sector investments in the North America construction sector. Government initiatives, such as the Smart Cities Project under the U.S. Economic Development Program, support the regional construction equipment market. There are many smart city construction projects underway in North America. Hudson Yards is a massive development on Manhattan’s west side that includes residential and commercial buildings, parks, and cultural venues. Quayside is a waterfront development project in Toronto that is being developed by Sidewalk Labs, a subsidiary of Alphabet Inc. The project aims to create a connected and sustainable community that uses technology to improve urban living. The West Village development in Calgary is a mixed-use development that includes residential, commercial, and office space. The Battery is a mixed-use development located next to SunTrust Park, the home of the Atlanta Braves baseball team. The development includes residential, office, and retail space, as well as a hotel and a theater. The U.S. construction equipment industry will witness substantial growth owing to growing investments by suppliers and manufacturers in the installation of automated equipment in distribution centers and warehouses. Major players, such as Amazon and eBay, are investing significant amounts in the construction of warehouses for the storage of inventory.

The demand for cost-effective machines, combined with regulatory pressures for lower emissions, is pressuring construction equipment manufacturers to choose electric and hybrid vehicles over traditional hydraulic and mechanical vehicles. As a result, progress in the electrification of construction equipment is accelerating. Europe has established regulations requiring diesel engines to produce almost negligible NOx and SOx emissions. There are several ongoing smart city construction projects in Europe. Smart City Wien is a comprehensive urban development program that aims to make Vienna a more livable, sustainable, and innovative city. Porta Nuova is a redevelopment project in the heart of Milan that includes office and residential buildings as well as a large public park. The Edge is a state-of-the-art office building in Amsterdam that is widely regarded as one of the world’s most sustainable and intelligent buildings. The Urban Flows Observatory is a research project in Sheffield that uses sensors and data analytics to monitor air quality, traffic flows, and other aspects of urban life. Hafen City is a large-scale urban development project in Hamburg that is transforming a former industrial area into a vibrant, mixed-use neighborhood.

In the Asia-Pacific region, China is expected to stand as the largest market, followed by India, South Korea, and Japan, due to the presence of large construction equipment OEMs, huge infrastructure spending by the government, growing urbanization, and global companies entering into joint ventures with the local players to manufacture construction equipment in China. Songdo, in South Korea, is a planned city near Seoul that is being developed as a smart city from the ground up. Gujarat International Finance Tec City, or GIFT City, is a planned business district near Ahmedabad that is being developed as a smart city. Forest City, in Malaysia, is a massive mixed-use development in Johor Bahru that includes residential, commercial, and leisure facilities. Tianjin Eco-City, China, is a planned city near Beijing that is being developed as a model for sustainable urban development. Smart Nation, Singapore is a national initiative in Singapore that aims to use technology to improve the lives of citizens and businesses. In Indonesia, construction equipment sales are driven by the construction of manufacturing zones and growth in the mining industry. The market is characterized by the presence of considerable global players as well as some local players who have secured long-term supply contracts with major infrastructure companies.

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Both Colombia and Chile have embarked on major road and highway construction programs as well as instigated projects for massive new tunnels and bridges. The market is driven by proactive initiatives by national governments to develop industrial and commercial sectors. The South American earthmoving equipment market is projected to witness robust growth through 2027 owing to the growth of transportation sectors and increased government investments in highway, metro, and airport construction projects. The FDI inflow in Latin America is expected to rise due to the growth in mining, renewable energy, and construction activities. The increase in metal prices such as gold, copper, and iron ores will attract investments in the mining projects in the region. There are several ongoing smart city construction projects in South America. Smart Santiago is a program that aims to make the Chilean capital a more connected and sustainable city. Porto Maravilha is a large-scale redevelopment project in Rio de Janeiro that aims to revitalize the city’s port area. Ciudad Creativa Digital is a planned development in Guadalajara that aims to create a hub for the digital and creative industries. Smart City Laguna is a planned development in Arequipa that aims to create a sustainable and connected community.

One of the major factors driving the growth of the market is the growing construction industry, especially in developing countries, owing to the numerous growth opportunities in the infrastructure, residential, and non-residential sectors. Saudi Arabia, the United Arab Emirates, Oman, and Egypt are launching several infrastructure projects, including new megacities, railway projects, harbor projects, new airport projects, housing projects, and so on, all of which are expected to boost construction demand. The increased tourism is driving the construction of hotels and other hospitality centers in the Middle East region. Several smart city construction projects are currently underway in the Middle East and Africa. NEOM is a planned smart city located in the northwest region of Saudi Arabia. Masdar City is a planned city located in Abu Dhabi that is being developed as a sustainable and carbon-neutral community. King Abdullah Economic City is a planned city located on the Red Sea coast of Saudi Arabia. Vision 2030 is a comprehensive urban development program in Dubai that aims to make the city a global hub for business, tourism, and innovation. Konza Technopolis is a planned city located near Nairobi that is being developed as a hub for technology and innovation in East Africa.

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Recent Developments:

Komatsu India launched three new B-20 biodiesel-compatible excavators (Komatsu PC205-10MO Hydraulic Excavator, Komatsu PC500LC-10R Hydraulic Excavator, and Komatsu PC210LC-10M0 Super Long Front) in India during Excon 2022.

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Volvo CE launched the EC550E excavator in India. The excavator is specifically designed for heavy-duty digging and mass excavation.

Caterpillar Inc. launched 303 CR mini excavators and 120 GC Motor graders in India. These two products were displayed at the Confederation of Indian Industry (CII) EXCON 2022 in Bengaluru, along with Caterpillar’s existing range of products, including excavators, motors, wheels, backhoes, and skid steer loaders.

Hitachi Ltd. announced the selling of a 50% stake in Hitachi Construction Machinery Ltd. to a joint venture between Itochu Corporation and investment fund Japan Industrial Partners Inc. for JPY 182.4 billion.

Considered in the Report

  •   Geography: Global
  •   Historic Year: 2016
  •   Base year: 2021
  •   Estimated year: 2022
  •   Forecast year: 2027

Table of Content

1.     Executive Summary
2.     Report Methodology
3.     Market Structure
3.1.  Market Considerate
3.2.  Market Definition
4.     Economic /Demographic Snapshot
5.     Global Construction Equipment Market Outlook
5.1.  Market Size By Value
5.2.  Market Share
5.2.1.     By Region
5.2.2.     By Country
5.2.3.     By Company
5.2.4.     By Application
6.     Global Earth Moving Machinery Market Outlook
6.1.  Market Size By Value
6.2.  Market Share
6.2.1.     By Region
6.2.2.     By Equipment
7.     Global Material Handling Machinery Market Outlook
7.1.  Market Size By Value
7.2.  Market Share
7.2.1.     By Region
7.2.2.     By Equipment
8.     Global Concrete and Road Construction Machinery Market Outlook
8.1.  Market Size By Value
8.2.  Market Share
8.2.1.     By Region
8.2.2.     By Equipment
9.     North America Construction Equipment Market Outlook
9.1.  Market Size By Value
9.2.  Market Share
9.2.1.     By Country
9.2.2.     By Application
9.2.3.     By Equipment
9.3.  North America Earth Moving Machinery Market Outlook
9.3.1.     Market Size By Value By Country
9.3.2.     Market Share By Equipment
9.4.  North America Material Handling Machinery Market Outlook
9.4.1.     Market Size By Value By Country
9.4.2.     Market Share By Equipment
9.5.  North America Concrete and Road Construction Machinery Market Outlook
9.5.1.     Market Size By Value By Country
9.5.2.     Market Share By Equipment
9.6.  US Construction Equipment Market Outlook
9.6.1.     Market Size By Applications
9.6.2.     Market Share By Equipment

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TOC continued….

Market Segmentation Details
By Equipment
  • Earth Moving (Excavators, Loaders, Dozers, Motor Graders)
  • Material Handling (Dumper, Cranes, Masted Handlers, Forklift)
  • Concrete and road construction (Cement mixers, Compactors & Road Rollers, Pavers Finishers, Others)
  • Others
By Region
By Country
Company profiles
  • Caterpillar Private Limited
  • CNH Industrial
  • Doosan Infracore
  • Epiroc Construction Machinery Co. Ltd
  • Hitachi Construction Machinery Co. Ltd
  • J C Bamford Excavators Ltd
  • John Deere Ltd
  • Kobe Steel Ltd
  • Komatsu Ltd.
  • Kubota Corporation
  • Liebherr Group
  • Metso Corporation
  • Sandvik Mining And Rock Technology
  • Sany Group
  • Terex Corporation
  • Volvo Construction Equipments
  • XCMG Ltd.
  • Zoomlion Co. Ltd.
Other Market Details
  • Key Drivers & Key Challenges,
  • Market Trends and Developments,
  • Strategic Recommendations

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Related Reports:

The Global Construction Earthmoving Machinery market size was USD 72.41 billion in 2021 and is projected to nearly reach USD 96 billion by 2027. Generally, this equipment is considered an important resource for quarrying and demolition activities, which are expected to grow with industrial development. The use of excavators is growing exponentially owing to their demand in mining, quarrying, and demolition operations. The adoption of upgraded excavators reduces labor costs; tracking of work done at each stage of the process; and cost reductions in operational costs are the factors driving earthmoving equipment market trends. Among the various types of excavators, crawler excavators are the most trending and widely demanded type, owing to their higher capacity to carry weight and greater applicability in muddy conditions. As a result, to meet the demand for safer and faster removal of debris, excavators are the trending equipment for digging procedures that make it much easier and safer. A shift from conventional excavators to automated excavators is being observed, as technologically driven equipment is more efficient than traditional ones. Increasing initiatives and heavy investments by governments in building roads, bridges, tunnels, etc. are influencing the demand for earthmoving equipment. The key players focus on developing next-generation machinery, investing in operational excellence, and offering aftermarket services. 

The Global Construction Material Handling Machinery market size is projected to reach USD 44 billion by 2027, growing at a CAGR of 7.30%. Dumpers, dump trucks, and tippers are commonly used on construction sites for material handling purposes. Dumpers are smaller and more compact than dump trucks, making them well-suited for use on smaller construction sites or in areas with limited access. Dumpers and dump trucks are essential equipment on construction sites, as they allow for efficient and cost-effective transport of materials. They are commonly used in the construction of roads, buildings, and other infrastructure projects and are often operated by skilled drivers who are trained in the safe operation of these vehicles. Rapid industrialization and increased demand for automation in material handling equipment are expected to fuel market growth over the forecast period. The market is expected to develop faster due to increased worker safety awareness, rising requirements for managing bulk materials effectively, and the rise of Industry 4.0 with greater Internet of Things use. The market for this product is expected to be driven by the rising need to reduce downtime and the focus on improving supply chain efficiency.

The Global Concrete and Road Construction Machinery market is projected to grow at a CAGR of 7.62% over the forecast period. The development of infrastructure in both emerging and developed countries propelled the building and road construction equipment market. Emerging and developed countries’ governments and private sectors are focusing on developing the infrastructure to keep up the GDP, meet the growing population needs, meet the levels of urbanization, and increase connectivity by developing highways and expressways. Governments and private sectors of developed and emerging sectors focus on infrastructure developments and require high-tech equipment for the construction process to make it easy and less time-consuming, which further acts as a major driver for the building and road construction equipment market’s growth. Cement and transit mixers are commonly used in concrete and road construction for mixing and transporting concrete. Both cement and transit mixers are essential pieces of equipment in concrete and road construction, as they allow for the efficient and effective mixing and transport of concrete. Cement and transit mixers allow for efficient mixing of concrete, ensuring that the ingredients are thoroughly blended and the mixture is consistent. They are cost-effective, and time-saving, offer customizable mixes and are versatile.

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The Global Construction Equipment Rental Market is projected to reach a size of USD 111.70 billion by 2028, up from USD 82.43 billion in 2022. Furthermore, the market is expected to grow at a CAGR of 5.30% between 2023 and 2028. The increase in government spending on public infrastructure development has accelerated construction and mining activity in the world’s emerging economies. This factor has resulted in high market demand for construction equipment. Rising construction machine prices are encouraging construction companies and contractors to shift their focus to renting construction equipment. Furthermore, the emergence of advanced technologies and an increasing level of automation are expected to drive market growth. During the forecast period, advancements such as equipment service tracking and mapping and digital service for automated service improvements are expected to drive market growth. The global construction equipment rental market is expected to grow in the coming years due to an increase in mining and construction activity, particularly in developing countries. The global construction equipment rental market is expected to expand significantly in the coming years as new technologies such as mapping features, equipment service tracking, and automated service improvement become available. North America region is leading the market with over 30% market share in 2022, followed by Europe and Asia-Pacific. As for South America and Middle East & Africa, the construction equipment rental market is emerging. 

The Global Tire Market is is expected to grow to more than 2700 Million tyres by the year 2027,  with a CAGR of 6.57% for 2022-2027. Increasing sales of passenger, luxury, and electric vehicles (EVs) on account of rapid urbanization and expanding purchasing power of individuals represent one of the major factors positively influencing the demand for tires around the world. In addition, the rising focus on driver and passenger safety and the growing number of fatal road accidents are catalyzing the demand for premium quality tires that have a longer operational life, enhanced stability and reliability, and high puncture resistance. The tire industry in the Asia-Pacific is quite vast and projecting swift expansion in the coming years due to improving economic conditions & living standards and growing inclination toward private ownership of vehicles. North America is the second largest market for tire with US as leading the global Tire market place. It is a matured market place with prominent industries for automobiles & tires that holds immense growth potential for automakers & tire manufacturers. However, Europe Tire market is flourishing owing to the continuously expanding automotive industry and increasing sales of vehicles in European countries along with the growing number of passenger cars and light commercial vehicles for regular transportation. Middle East and Africa region is showing moderate growth on the back of increased construction and mining activities in the region. On the other hand, the tire industry across South America is vast & expanding on the back of the more massive automotive sector, i.e., positively influencing the sales of tires.

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ResourceWise Brings Its Cross-Commodity Data and Analytics Expertise to New Oleochemicals Service

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ResourceWise has met a key milestone in providing cross-commodity price benchmarks, data, and analysis on chemicals, forest products, and decarbonization markets. 
CHARLOTTE, N.C., June 24, 2024 /PRNewswire/ — ResourceWise has met a key milestone in providing cross-commodity price benchmarks, data, and analysis on chemicals, forest products, and decarbonization markets. 

For the first time, one digital product encompasses expertise that spans all the key commodity sectors that ResourceWise covers. Dedicated to renewable feedstock, the new platform-based oleochemicals analysis and insight tools draw on decades of experience within each distinct business sector. 
Dwight Lynch, Biomaterials Business Manager at ResourceWise, is leading the transition towards data and insight on renewable intermediates and biobased and biodegradable polymer inputs. 
“Navigating oleochemicals markets at a time when regulation, legislation, and competition from renewable fuels markets are the key drivers is a challenge. Our new service offers pricing and analysis that informs decision-makers and allows sustainable business to thrive.” 
The new oleochemicals portal in ResourceWise’s flagship chemicals market intelligence platform, OrbiChem360, has evolved beyond its legacy biomaterials insights to focus on the fats and oils markets that are key to sustainability.  
It presents pricing data and analysis that ResourceWise biomaterials experts have furnished within OrbiChem360 this past decade and includes a crude tall oil (CTO) price index. The inclusion of a forest-based output introduces the ResourceWise platform FisherSolve’s pulp and paper industry insight to our portfolio. 
Pete Stewart, the CEO of ResourceWise, is focused on the future. “From raw material converters to end-use consumer goods producers, manufacturing value chain participants are increasingly seeking cross-commodity insights to meet low-carbon targets. We are building and providing the data and analytics businesses need to achieve environmental, social, and governance (ESG) targets and market products competitively worldwide.  
“The ResourceWise mission is to use the intelligence within the increasingly inter-related business sectors we have harnessed to guide customers in their journey toward a net-zero future. This new offering is the first of many milestones in our endeavor to do just that,” adds Stewart.  
A Streamlined Renewable Chemicals Service  
The new product leverages oleochemical pricing and commentary gathered by ResourceWise legacy brands since 2014 and insight collected since the 1990s. It extends our regional reach with additional price points and streamlines the data and analytics provided.  
The new portal is designed with personal care, cosmetics, detergents, lubricants, pharmaceuticals, flavor and fragrance, and food and beverage market participants in mind. However, it provides pricing data and insights for producers, intermediaries, and consumer product manufacturers in broader industries. 
More Than Forty Current and Historical Prices          
International price indexes for oleochemicals include the feedstocks soybean, coconut, tall, rapeseed, and palm oils, as well as tallow and glycerine grades Dozens of spot and contract prices for fatty acids and fatty alcohols plus comprehensive commentary based on intelligence from a worldwide contact base       Low-carbon price benchmarks and commentary in our oleochemicals offering will increasingly leverage intelligence on the biofuels sector within the Prima CarbonZero platform      Global Trade Flow graphics for all oils and tallow to help customers understand how key plant and animal-based feedstocks are traded globally to identify new markets and sources   Industry experts contextualize data, making it actionable, and respond personally to customer inquiries By bridging information gaps in the chemicals market, OrbiChem360 subscribers gain a competitive edge in volatile markets. The platform provides decision makers with robust, data-driven insight that unravels market trends so they can harness growth opportunities. For more information on the OrbiChem360 platform, visit the ResourceWise OrbiChem360 page. 
CONTACT:
Contact:Suz-Anne Kinney          Vice President, Marketing & Communications at [email protected]  +1 (980) 233-4021
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AI Vulnerability Scanning market Size to Grow USD 7,574.30 Million by 2030 at a CAGR of 13.52% | Valuates Reports

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BANGALORE, India, June 24, 2024 /PRNewswire/ — AI Vulnerability Scanning market is Segmented by Type (On-premises, Cloud-Based), by Application (SMEs, Large Enterprise): Global Opportunity Analysis and Industry Forecast, 2024-2030.

The global AI Vulnerability Scanning market was valued at USD 3121.56 million in 2023 and is anticipated to reach USD 7,574.30 million by 2030, witnessing a CAGR of 13.52% during the forecast period 2024-2030.
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 Major Factors Driving the Growth of AI Vulnerability Scanning Market:
The market for AI vulnerability assessment is being pushed by the growing requirement for strong cybersecurity defenses against increasingly complex and dynamic cyberthreats. AI-specific vulnerabilities are becoming more likely as organizations use machine learning (ML) and artificial intelligence (AI) more extensively, which calls for the use of specialized scanning solutions. AI vulnerability scanners use cutting-edge algorithms to find and fix security flaws in AI models, shielding against criminal activity, data breaches, and adversarial attacks. The demand for AI vulnerability screening tools is being driven primarily by the increasing awareness of AI security concerns, regulatory constraints for strict data protection, and the integration of AI across multiple sectors, including banking, healthcare, and automotive. Furthermore, improvements in AI and ML methods boost these scanning solutions’ efficacy and propel the market forward.
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TRENDS INFLUENCING THE GROWTH OF THE AI VULNERABILITY SCANNING MARKET
Because cloud-based AI vulnerability scanning provides scalable, effective, and all-encompassing security solutions, it is driving the growth of the AI vulnerability scanning market in major companies. By constantly monitoring and analyzing enormous volumes of data across enterprise networks, these cloud-based systems make use of cutting-edge AI algorithms to spot possible vulnerabilities in real time. Large businesses can effectively manage security across different and complex IT infrastructures thanks to the flexibility and scalability of cloud solutions, which guarantees strong defense against constantly changing cyber threats. Furthermore, cloud-based platforms’ centralized architecture makes it simpler to integrate and upgrade with pre-existing security frameworks, which improves overall resiliency. The market is expanding significantly as a result of large organizations prioritizing cybersecurity and the increased need for advanced, AI-driven vulnerability detection solutions.
The market for AI vulnerability scanning is primarily driven by the rise in complex cyberthreats. Organizations are becoming more cognizant of the necessity for sophisticated security measures as cyber threats escalate in complexity and frequency. When it comes to identifying and countering these contemporary threats, traditional vulnerability scanning techniques frequently fall short. Real-time detection and prediction analysis capabilities are provided by AI-powered vulnerability scanning solutions, which can detect possible security breaches before they happen. Organizations must make significant investments in AI-based security solutions in order to preserve business continuity and protect critical data.
One major element propelling the market expansion for AI vulnerability scanning is regulatory compliance. Tight laws are being passed by governments and business associations across the globe to guarantee cybersecurity and data security. Sufficient observance of regulations like GDPR, HIPAA, and CCPA necessitates ongoing security vulnerability reporting and monitoring. AI vulnerability scanning systems offer thorough and automated security assessments, which assist enterprises in meeting these legal obligations. This ability not only guarantees compliance but also lowers the possibility of fines and harm to one’s reputation, which motivates more companies to choose AI-powered security solutions.
Another important element propelling the market for AI vulnerability scanning is cost effectiveness. Conventional security methods are resource-intensive and can require a large amount of manual effort, which raises operational costs. The identification and mitigation of security threats are automated by AI-powered vulnerability scanning solutions, which minimizes the need for significant human participation. Organizations save a significant amount of money because of this automation, especially big businesses with sophisticated IT infrastructures. Furthermore, early vulnerability detection reduces the possible financial effect of cyberattacks, which makes AI-driven solutions a financially viable choice for companies.
The market for AI vulnerability scanning is expanding due in large part to the need for real-time threat identification. Real-time security threat detection and response is essential in today’s fast-paced digital world. Artificial intelligence (AI)-driven vulnerability scanning solutions enable businesses to quickly respond to possible threats by offering continuous monitoring and instantaneous analysis of security weaknesses. Reducing the effects of cyberattacks and preserving the integrity of vital systems depend on this real-time detection capabilities. Adoption of AI-based security solutions is driven by the increased requirement for quick reaction to threats.
The market for AI vulnerability screening is being driven by several factors, including increased accuracy and precision. Conventional vulnerability scanning techniques can miss subtle security risks and generate false positives. On the other hand, AI-powered products use sophisticated analytics and machine learning algorithms to pinpoint vulnerabilities extremely precisely. This lowers the quantity of false alarms and guarantees that serious dangers are dealt with right away. Because AI-driven solutions are more accurate, security measures are more effective overall, which is why businesses looking for dependable and all-inclusive vulnerability management choose them.
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AI VULNERABILITY SCANNING MARKET SHARE ANALYSIS
The market for AI vulnerability scanning is dominated by North America because of the region’s strong emphasis on cybersecurity and technical improvements. Because there are so many tech businesses, financial institutions, and government organizations in the US that need to implement strong cybersecurity measures, the country is a big participant in this space. The development and uptake of sophisticated vulnerability scanning solutions are aided by the presence of significant AI and cybersecurity companies in the area. The industry is additionally driven by strict regulatory requirements, such as those imposed by the Health Insurance Portability and Accountability Act (HIPAA) and the Federal Information Security Management Act (FISMA), which force firms to install extensive security measures. The increased frequency of cyberattacks in North America emphasizes the necessity for sophisticated AI-powered security measures.
Key Players:
European UnionCRYPTTECHSecPointTheSmartScannerSecureWorksCybotsCyber OrionImmuniWeb SAVertaHuawei CloudFreeBufAlibaba CloudIBMGoogle CloudBARUTUAmazon AWSPurchase Regional Data: https://reports.valuates.com/request/regional/QYRE-Auto-12L15782/Global_AI_Vulnerability_Scanning_Market_Research_Report_2023
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–  The global AI Personal Computer market was valued at USD 510 million in 2023 and is anticipated to reach USD 32850 million by 2030, witnessing a CAGR of 43.9% during the forecast period 2024-2030.
–  The global Smart Retail market was valued at USD 7383.7 million in 2023 and is anticipated to reach USD 9679.1 million by 2030, witnessing a CAGR of 4.0% during the forecast period 2024-2030.
–  The vehicle scanner market was valued at USD 3.3 billion in 2021, and is estimated to reach USD 5.8 billion by 2031, growing at a CAGR of 6% from 2022 to 2031.
–  Artificial Intelligence & Advanced Machine Learning Market
–  The global AI Content Generation market was valued at USD 1400 million in 2022 and is anticipated to reach USD 5958 million by 2029, witnessing a CAGR of 27.3% during the forecast period 2023-2029.
–  The global High Performance Computing market was valued at USD 31970 million in 2023 and is anticipated to reach USD 70180 million by 2030, witnessing a CAGR of 10.7% during the forecast period 2024-2030.
–  The global conversational AI market size was valued at USD 5.78 billion in 2020 and is projected to reach USD 32.62 billion by 2030, registering a Compound Annual Growth Rate (CAGR) of 20.0% from 2021 to 2030.
–  The global cloud artificial intelligence market was valued at USD 42.7 Billion in 2022, and is projected to reach USD 887 Billion by 2032, growing at a CAGR of 35.8% from 2023 to 2032.
–  The global edge AI hardware market size was valued at USD 6.88 billion in 2020, and is projected to reach USD 38.87 billion by 2030, registering a CAGR of 18.8% from 2021 to 2030.
–  The generative ai market was valued at USD 8.15 billion in 2021, and is estimated to reach USD 126.5 billion by 2031, growing at a CAGR of 32% from 2022 to 2031.
–  The emotion AI market was valued at USD 1.8 billion in 2022, and is estimated to reach USD 13.8 billion by 2032, growing at a CAGR of 22.7% from 2023 to 2032.
–  The global AI Image Generator market was valued at USD 426 million in 2023 and is anticipated to reach USD 899.3 million by 2030, witnessing a CAGR of 11.5% during the forecast period 2024-2030.
–  The global AI Server PCB market size is expected to reach USD 197.4 million by 2029, growing at a CAGR of 12.0% from 2023 to 2029.
–  Artificial Intelligence (AI) in Mining Market
–  The global market for AI Server was estimated to be worth USD 14860 million in 2023 and is forecast to a readjusted size of USD 78810 million by 2030 with a CAGR of 16.4% during the forecast period 2024-2030.
–  The global AI Speech Recognition market was valued at USD 3856 million in 2023 and is anticipated to reach USD 17870 million by 2030, witnessing a CAGR of 24.9% during the forecast period 2024-2030.
–  The Global AI Crypto Trading Bot Market was valued at USD 21.69  Million in 2022 and is anticipated to reach USD 145.27 Million by 2029, witnessing a CAGR of 37.2% during the forecast period 2023-2029.
–  Generative AI Solution Market
–  AI Disease Detection Market
–  The AI in energy market size was valued at USD 4 billion in 2021, and is estimated to reach USD 19.8 billion by 2031, growing at a CAGR of 17.4% from 2022 to 2031.
–  The ai powered storage market size was valued at USD 15.6 billion in 2021, and is estimated to reach USD 162.5 billion by 2031, growing at a CAGR of 26.7% from 2022 to 2031.
–  The global Edge AI Software market was valued at USD 931.5 million in 2022 and is anticipated to reach USD 3519.4 million by 2029, witnessing a CAGR of 24.8% during the forecast period 2023-2029.
–  Virtual Reality 3D Scanning Market
–  The global 3D Laser Scanning Services market was valued at USD 955 million in 2023 and is anticipated to reach USD 2723.1 million by 2030, witnessing a CAGR of 16.0% during the forecast period 2024-2030.
–  Scanning Software Market
–  Profile Scanners Market
–  Transmission Scanning Imaging Systems Market
–  The global Food Scanning Technology market size is expected to reach USD 2162.6 million by 2029, growing at a CAGR of 7.3% from 2023 to 2029.
–  Document Scanning Services Market
–  The global Intraoral 3D Scanning market was valued at USD 1142 million in 2023 and is anticipated to reach USD 1878.9 million by 2030, witnessing a CAGR of 7.0% during the forecast period 2024-2030.
–  Scanning Acoustic Microscopy Equipment Market
–  Oral Scanning Devices Market
–  Sheetfed Scanner Market
–  Vulnerability Management Solution Market
–  The global Security and Vulnerability Assessment market was valued at USD 13800 million in 2023 and is anticipated to reach USD 26890 million by 2030, witnessing a CAGR of 9.5% during the forecast period 2024-2030.
–  Risk Based Vulnerability Management Tool Market
–  Vulnerability Analysis Tools Market
–  Web Application Vulnerability Scanner Market
–  Vulnerability Management Software Market
–  Hazard Vulnerability Emergency Management Market
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Artificial Intelligence

Timekettle Announces HybridComm 3.0 Upgrade, Marking a New Era in Near-human-level AI Translation Technology

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timekettle-announces-hybridcomm-3.0-upgrade,-marking-a-new-era-in-near-human-level-ai-translation-technology

SHENZHEN, China, June 24, 2024 /PRNewswire/ — Timekettle is excited to announce the release of its latest software upgrade, the AI Semantic Segmentation. Powered by Timekettle’s cutting-edge TurboFast Technology under HybridComm 3.0, the AI Semantic Segmentation sets a new standard in real-time language translation, solidifying Timekettle’s position as the expert in AI translator earbuds.

As the pioneer and innovator in cross-language communication solutions, Timekettle has relentlessly advanced the field through innovative products, marking a significant chapter in AI translation devices. Initially offering handheld translators for simple exchanges, Timekettle’s breakthrough came with the WT2 Plus Translator Earbuds, featuring HybridComm 1.0 for seamless, one-way translation and a speaker mode for broader communication. The subsequent launch of the WT2 Edge Real-time Translator Earbuds, with HybridComm 2.0, enabled natural, bidirectional conversations. The latest advancement, powered by HybridComm 3.0 featuring the AI Semantic Segmentation, significantly enhances translation efficiency and accuracy, marking a new era in near-human-level AI translation technology.
Leveraging the advanced TurboFast Technology, the AI Semantic Segmentation ensures a seamless and instant translation experience, helping the translated speech align perfectly with the speaker’s rhythm, and eradicating the issue of delayed translated output in crucial communication scenarios. It begins by grasping the core meaning of sentences. Once it aligns closely with the “entirely correct” benchmark, it begins translating while still processing the original voice, allowing users to hear the translated audio sooner.
Thanks to the AI Semantic Segmentation, the delay in receiving translated audio has been reduced by 200%, bringing its real-time translation capabilities on par with live interpretation. Internal test conducted recently revealed that with the AI Semantic Segmentation, a translated speech only delays a sentence lag time, while other traditional speech translation devices may experience significant delays of 30 to 40 seconds.
This significant reduction, cutting over 20 seconds of waiting time, has revolutionized continuous communication. Picture being at a conference room where attendees can instantly hear the translation of a sentence right as the speaker starts the next. Such a seamless flow of communication marks a new era of cross-language interaction, paving the way for a more connected world.
The AI Semantic Segmentation is now available on Timekettle WT2 Edge Real-time Translator Earbuds, M3 Language Translator Earbuds, and X1 AI Interpreter Hub (One-on-one mode, Listen & Play mode, and Ask & Go mode for now; Voice Call mode and more starting June 28th) and upon installing the latest software update for existing users. 
About Timekettle
Established in 2016, Timekettle is dedicated to advancing cross-language communication through innovative products and solutions. Recognized with numerous international accolades, including the CES Innovation Award, iF Design Award, and Japan Good Design Award, Timekettle’s products have proudly served the needs of cross-language communication in a variety of user scenarios, including abroad-living, traveling, multi-language meetings and classrooms, as well as in manufacturing and logistics, and beyond. Having solidified a user database of more than 400,000, Timekettle continues its journey as the Global No.1 AI Translator Device.
For further information, please visit https://www.timekettle.co/ or contact [email protected]
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