Connect with us
MARE BALTICUM Gaming & TECH Summit 2024

Artificial Intelligence

The digital health and wellness market by revenue is expected to grow at a CAGR of 21.97% from 2022 to 2028.

Published

on

<!– Name:DistributionId Value:8780321 –> <!– Name:EnableQuoteCarouselOnPnr Value:False –> <!– Name:IcbCode Value:5557 –> <!– Name:CustomerId Value:1199811 –> <!– Name:HasMediaSnippet Value:false –> <!– Name:AnalyticsTrackingId Value:5eef7ca7-e004-4dfd-9f1e-0f7bb784c47f –>

New York, March 02, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Digital Health and Wellness Market – Global Outlook & Forecast 2023-2028” – https://www.reportlinker.com/p06425875/?utm_source=GNW
Digital wellness is of the utmost significance for creating balance and healthy decisions with devices and comprises technology people use for their well-being.
Factors such as growth in the adoption of smartphones, developments in coverage networks, and the increasing prevalence of health conditions impacting physical and mental wellness are driving the North American digital health & wellness market. Further, increasing R&D funding activities for introducing safer products with differentiated functionalities will contribute to the growth of the U.S. digital health and wellness market in the coming years. The US’s leading drivers for health and well-being programs are managing physical and mental diseases or disorders such as schizophrenia, alcohol use disorder, bipolar disorder, bipolar disorder, depression, anxiety, and others.
Key Winning Imperatives in the Global Digital Health And Wellness Market
• The growing usage of highly advanced technological platforms in hospitals is accelerating the adoption of healthcare robotics by making healthcare robots more sophisticated, efficient, precise, and affordable.
• Digital health and wellness have made a seismic shift by bringing a new era of customized education and solutions that tend to each individualized well-being through AI.
• The outstanding use of wearable monitoring devices is giving rise to new dimensions in medicine, healthcare, and fitness applications, putting them into a more significant category of wireless networks known as Wireless Body Area Networks (WBANs).
MARKET TRENDS & OPPORTUNITIES
Increasing Adoption of Telehealth

Telehealth has always been a primary pillar of technology-enabled care delivery which helps hospitals, health systems, and group practices deliver quality care at a distance and often also gain efficiencies, improve patient satisfaction of providers and save costs. In addition, the COVID-19 pandemic severely challenged the health system’s capacity, thereby increasing telehealth opportunities. Virtual care and remote monitoring have never been utilized as they are today due to the COVID-19 pandemic. As federal policies remove many of the regulatory and reimbursement barriers that have hindered the more widespread adoption of telehealth, healthcare providers nationwide are using new technologies to deliver care amid social-distancing efforts to prevent coronavirus spread.
• Companies such as InTouch Health, iRobot, and Vecna Technologies have developed robots that serve as the physician’s stand-in in remote clinics, community health centers, cruise ships, schools, sporting events, and even smaller hospitals. For instance, iRobot, a leader in delivering robotic solutions, made the first autonomous remote navigation robot Remote Presence Virtual Independent Telemedicine Assistant (RP-VITA).

Data Analytics Increasingly Driving Wellness

Data-driven decision-making is becoming the need of the hour, and physical and mental wellness is being reimagined. As the industry has evolved beyond measuring healthcare costs to becoming more focused on healthy lifestyles, data analytics and technology are playing a bigger role. Several investments in technologies and expanding their capabilities to measure their initiatives using big data. Big data can provide health professionals insights into patterns that are usually difficult to detect. By enabling preventative care, early diagnosis, and personalized and consumer-centric approaches, it intends to facilitate better clinical outcomes. Data from several sources, such as customer data from pharmacies, patient history, hospitals, cellphones, and internet searches, provide a massive pool of data, which can be used for clinical purposes to provide better opportunities for the digital health and wellness market growth.

Increasing Smartphone Penetration & mhealth Application

Psycho-graphical and demographical indicators of the population have changed drastically over the past few years. Factors such as the increased adoption of smartphones and tablets in developing countries have led to the increasing engagement of the population in health and wellness programs. Android and iOS are witnessing increasing adoption across various countries, especially in Africa. Moreover, a large population base in various APAC countries, such as China and India, provides significant growth opportunities to the digital health and wellness market. Continuous innovation & development is leading to the launch of much more affordable smartphone options. Various smartphone vendors in the Chinese market are developing lower-cost products. Also, the overall price of smartphones is much lower than PC and consoles, which results in higher adoption of smartphones for health and wellness programs, thereby driving the digital health & wellness market. Moreover, the rising disposable income enables the population to purchase smartphones over traditional mobile devices, leading to an increasing number of health and wellness program operators, thereby driving the market.

INDUSTRY RESTRAINTS

Data Security & Privacy Risks

Security and privacy risks are one of the major challenges for the digital health and wellness market because the nature of data and the way providers use it is vulnerable to cybersecurity attacks and data theft. Telehealth platforms, including wearable and connected medical devices, smartphones, tablets, and remote patient monitoring systems like other computer systems, are exposed to potential hacks and security breaches, which can adversely impact the safety and effectiveness of the overall outcome of telehealth services.

SEGMENTATION INSIGHTS

INSIGHTS BY DIGITAL HEALTH & WELLNESS

The digital health segment is expected to be the largest global digital health and wellness market. Digital health or digital healthcare is a broad, multidisciplinary model incorporating concepts from a connection between technology and healthcare. It includes digital care programs and technologies with health, healthcare, living, and society to improve healthcare delivery competence and make medicine more personalized and precise. Furthermore, digital health utilizes digital transformation in healthcare, integrating software, hardware, and services. The digital health segment accounted for a share of 56.50% in 2022. It is expected to witness an absolute growth of 248.22% by 2028. Digital technologies offer significant opportunities for preventing diseases by promoting lifestyle changes and adherence to healthy behaviors
Segmentation by Digital Health & Wellness
• Digital Health
• Digital Wellness

INSIGHTS BY TYPE

The global digital health and wellness market by type segment is classified into software & services and wearables. The software & services digital health and wellness segment accounted for 61.24% share in 2022 and is expected to witness an absolute growth of 241.55% by 2028. The software industry provides numerous services to the healthcare industry. The advent of medical software reduces excessive paperwork and allows healthcare providers to invest more time in primary healthcare and patient care. Electronic Medical Records (EMR), Patient Engagement Software (PES), Electronic Health Records (EHR), and other software enable medical staff to manage patient data effectively. Organizations can also create customized health software that focuses on the organization’s needs. Using such software enables clinical experts to manage their practice effectively.
Segmentation by Type
• Software & Services
o eHealth
o mHealth
• Wearables
INSIGHTS BY WEARABLE

The global wearables digital health and wellness market was valued at USD 129.84 billion in 2022. Various wearable technology includes fitness trackers such as Fitbit charge, VR headsets, smart jewelry, web-enabled glasses, smartwatches, and Bluetooth headsets. The most common types of wearables comprise smart glasses and smartwatches. These wearable devices collect information on a real-time basis. In addition, they have motion sensors that can take screenshots of day-to-day activity and sync them with mobile devices or laptops. The market is growing faster due to the rising awareness regarding healthcare and increasing concern for the continuous monitoring of real-time health parameters of patients, pre-and post-surgery, are expected to drive the market’s growth.

Segmentation by Wearables
• Ear-worn
• Smartwatches
• Smart Patches
• Head-mounted Display
• Wristbands
• Smart Clothing

INSIGHTS BY AGE GROUP

The global adult digital health and wellness market accounted for a share of 45.93% in 2022. The adult population is more health-conscious and fitness freak and is involved in various sports and exercise activities. Therefore, digital technologies help to check multiple parameters during an intense workout. Furthermore, the signs of mental disorders among adults include fear or worrying, substance abuse, mood swings, and suicidal ideation.
Segmentation by Age-Group
• Pediatric
• Adults
• Geriatric

INSIGHTS BY CARE PROVIDERS

The global digital health and wellness market by care providers segments as hospitals, home care settings & individuals, clinics & ambulatory surgical centers, and others. Hospitals are transitioning towards digital platforms for healthcare services and patient assistance. With the introduction of telehealth, healthcare providers are implementing telemedicine platforms to connect health services such as video consultation, patient engagement, and remote patient monitoring for improved clinical outcomes. Integrating telemedicine allows hospitals to streamline healthcare delivery with existing hospital IT infrastructure. Rapidly increasing technologies and demographic and economic changes will modify hospitals worldwide. An increasing number of inpatient health care services are already being shoved to home and outpatient ambulatory facilities. Digital and artificial intelligence (AI) technologies are helping on-demand interaction and smooth processes to enhance the patient experience.
Segmentation by Care Providers
• Hospitals
• Home Care Settings & Individuals
• Clinics & Ambulatory Surgical Centers (ASC)
• Others

GEOGRAPHICAL ANALYSIS
• APAC dominated the global digital health and wellness market. The major factors contributing to the market growth in APAC include an increased prevalence of mental disorders, a rise in the geriatric population, and rising expenditure on healthcare. Compared to other countries, China and India have the greatest diabetic populations. China’s telemedicine development is comparable to India’s, which has a similar population and numerous rural areas with limited healthcare facilities. Furthermore, it is projected that the load will continue to rise over time. As a result, managing these patients’ overall health has become critical, and these reasons are projected to drive up the demand for weight management and fitness monitoring.
• Europe’s digital health and wellness were valued at USD 65.82 billion in 2022. The region’s growth is primarily owing to the surge in demand for technologically advanced systems and automation in R&D activities in the wellness industry. Moreover, the region’s market for mental wellness is estimated to advance steadily during the forecast period. Mental health is impacted by several factors, involving socio-economic background, genetic predisposition, chronic medical conditions, adverse childhood experiences, or abuse of alcohol or drugs.

Segmentation by Geography
• North America
o US
o Canada
• Europe
o Germany
o UK
o Italy
o France
o Spain
• APAC
o China
o Japan
o South Korea
o India
o Australia
• Latin America
o Brazil
o Mexico
o Argentina
• Middle East & Africa
o Turkey
o South Africa
o Saudi Arabia

COMPETITIVE LANDSCAPE
The global digital health and wellness market is highly fragmented, and the degree of fragmentation is expected to accelerate during the forecast period. There is a significant number of global and domestic vendors across the geographies. Headspace, FranklinCovey, Vivify Health, Teladoc Health, Apple, and Samsung are the key vendors in the global digital health and wellness market. The industry has witnessed the entry of many external players, such as in-house services by large businesses and other entities in the health and fitness space that offer membership discounts to drive their share in the industry. Mergers and acquisitions are common within the industry as players look to expand and become more comprehensive in their offerings.

Key Vendors
• Headspace
• FranklinCovey
• Vivify Health
• Teladoc Health
• Apple
• Samsung

Other Prominent Vendors
• Altopax
• Amelia Virtual Care
• BigHealth
• Calm
• CogniFit
• CuraLinc Healthcare
• Epitel
• Fitbit
• Ginger
• Global Kinetics
• HealthUnlocked
• Healthy Hero
• Koa Health
• Misu
• MyndYou
• OxfordVR
• Psycurio
• Rani Therapeutics
• Talkspace
• Twill

KEY QUESTIONS ANSWERED:
• How big is the digital health and wellness market?
• What is the growth rate of the digital health and wellness market?
• What are the key driving factors in the digital health and wellness market?
• Who are the key players in the global digital health and wellness market?
• Which region dominates the global digital health and wellness market?
Read the full report: https://www.reportlinker.com/p06425875/?utm_source=GNW

About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need – instantly, in one place.

__________________________


GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Artificial Intelligence

CleverTap launches Clever.AI, the AI-Driven Edge for Customer Engagement & Retention

Published

on

clevertap-launches-clever.ai,-the-ai-driven-edge-for-customer-engagement-&-retention

Clever.AI will help brands achieve 66% higher conversion rates and 35% boost in operational efficiency
SAN FRANCISCO and MUMBAI, India, May 3, 2024 /PRNewswire/ — CleverTap, one of the leading all-in-one customer engagement and retention platforms, today announced the launch of Clever.AI, its AI engine. With Clever.AI, CleverTap seeks to enable brands with the next generation of AI capabilities required to build human-like understanding of customers and deliver personalized experiences efficiently that resonate with them, ultimately maximizing customer lifetime value.

Clever.AI is built on the foundation of three core AI pillars – Predictive, Generative, and Prescriptive. Clever.AI propels these three pillars to transform the way brands engage with customers and make customer interactions more intelligent, and efficient.
Clever.AI enables brands to become:
Insightful: With Predictive AI capabilities, it forecasts precise business outcomes, helping brands to anticipate customer needs. Clever.AI’s insights are powered by CleverTap’s proprietary TesseractDB™ which ensures data granularity with an extended lookback period, making predictions more accurate, and enabling brands to make informed decisions, resulting in improved marketing ROIEmpathetic: Taking GenAI forward, Clever.AI merges creativity with emotional intelligence, crafting content that resonates on a human level. This empathetic approach helps brands drive higher conversions and engages customers with hyper-personalized experiencesActionable: Leveraging Prescriptive AI capabilities, it provides actionable recommendations to maximize conversions throughout the customer journey by helping brands identify the optimal engagement strategies in real-timePeter Takacs, Digital Product Manager, Burger King said, “I would rate it 10 for its ease of use and numerous possible use cases. We uplifted our marketing campaigns by easily experimenting with multiple possibilities and quickly converging on the optimum one. It opens up a new era of continuous experimentation for us.”
Anand Jain, Co-founder and Chief Product Officer, CleverTap said, “We’re thrilled to unveil Clever.AI, a testament of our pursuit over the last several years in leading the way in adopting the latest tech to transform customer engagement. We will continue to innovate CleverTap’s All-in-One engagement platform with Clever.AI enhancing its precision in predictions, its ability to prescribe intelligent customer experiences strengthened by advanced product analytics and deeper persona profiling to ensure brands can build highly personalized experiences, and campaigns more effectively, ensuring every customer interaction is personalized and outcome driven.”
With Clever.AI, brands have already experienced a boost in conversion with significantly higher operational efficiency. They witnessed a 66 percent increase in conversion rates, 35% boost in operational efficiency and a 3x improvement in click-through rates (CTRs), with an increase across metrics such as purchases, and average order values (AOVs). Moreover, Clever.AI enhanced operational efficiency by simplifying campaign roll-outs, content creation, and experimentation at scale. Clever.AI has helped leading brands like TouchnGo, Swiggy, Burger King add efficiency to their campaigns.
CleverTap will unveil its new AI capabilities through its Spring Release ’24 event slated from 6th May to 9th May, through a series of thought-provoking sessions on how AI can make campaigns more intelligent, efficient, and engaging for brands.
About CleverTap
CleverTap is the all-in-one engagement platform that helps brands unlock limitless customer lifetime value by helping them create personalized experiences to retain their most valuable customers. The platform empowers businesses to orchestrate experiences for individuals across their lifecycles and design personalized journeys that span a lifetime. It offers analytics that encompasses every aspect of the lifecycle, enabling businesses to measure and optimize each experience in real-time. Its unique AI capability is insightful, empathetic, and prescriptive, facilitating smarter and faster decisions. The all-in-one platform unifies experiences from every touchpoint, paving the way for a new era of customer engagement.
The platform is powered by TesseractDB™ – the world’s first purpose-built database for customer engagement, offering both speed and economies of scale.
CleverTap is trusted by 2000 customers, including Electronic Arts, TiltingPoint, Gamebasics, Big Fish, MobilityWare, TED, English Premier League, TD Bank, Carousell, AirAsia, Papa John’s, and Tesco.
Backed by leading investors such as Peak XV Partners, Tiger Global, Accel, CDPQ, and 360 One, the company is headquartered in San Francisco, California, with presence in New York, São Paulo, Bogota, London, Amsterdam, Sofia, Dubai, Mumbai, Bangalore, Delhi, Singapore, Jakarta, and Ho Chi Minh.
For more information, visit clevertap.com or follow us on: LinkedIn: https://www.linkedin.com/company/clevertap/X: https://twitter.com/CleverTap
Forward-Looking Statements
Some of the statements in this press release may represent CleverTap’s belief in connection with future events and may be forward-looking statements, or statements of future expectations based on currently available information. CleverTap cautions that such statements are naturally subject to risks and uncertainties that could result in the actual outcome being absolutely different from the results anticipated by the statements mentioned in the press release.
Factors such as the development of general economic conditions affecting our business, future market conditions, our ability to maintain cost advantages, uncertainty with respect to earnings, corporate actions, client concentration, reduced demand, liability or damages in our service contracts, unusual catastrophic loss events, war, political instability, changes in government policies or laws, legal restrictions impacting our business, impact of pandemic, epidemic, any natural calamity and other factors that are naturally beyond our control, changes in the capital markets and other circumstances may cause the actual events or results to be materially different, from those anticipated by such statements. CleverTap does not make any representation or warranty, express or implied, as to the accuracy, completeness, or updated or revised status of such statements. Therefore, in no case whatsoever will CleverTap and its affiliate companies be liable to anyone for any decision made or action taken in conjunction.
Logo: https://mma.prnewswire.com/media/2404275/CleverTap_Logo.jpg

View original content:https://www.prnewswire.co.uk/news-releases/clevertap-launches-cleverai-the-ai-driven-edge-for-customer-engagement–retention-302135547.html

Continue Reading

Artificial Intelligence

Appian Named a Leader in the 2024 Gartner® Magic Quadrant™ for Process Mining Platforms Report

Published

on

appian-named-a-leader-in-the-2024-gartner-magic-quadrant™-for-process-mining-platforms-report

LONDON, May 3, 2024 /PRNewswire/ — Appian (Nasdaq: APPN) today announced it has been named a Leader by Gartner in its 2024 Magic Quadrant for Process Mining Platforms report. The report evaluated 18 vendors and their product offerings. For more information, download a complimentary copy of the Gartner Process Mining 2024 report. 

Gartner defines Process Mining platforms as tools that deliver visibility and insights to technology innovation leaders that enable smart decision making and strong performance on an organisation’s critical priorities. Features that make Appian a leader in Process Mining, include:
Faster data prep that eliminates complex transformation with always-ready data from multiple sources.Automated process analysis and intelligent recommendations for where and how to take action.A low-code experience for measuring, monitoring, and optimising process performance—all within one platform.”We believe that Appian’s recognition in the Gartner Process Mining Platforms Magic Quadrant underscores our dedication to process excellence. Through Process HQ, we integrate data fabric, process mining, machine learning, and generative AI to streamline manual data prep, enabling businesses to gain insights swiftly and implement improvements easily,” said Michael Beckley, CTO and Founder of Appian. “Our unified approach merges Process Mining with AI-driven process automation, setting a new standard for efficiency and intelligence.”
Business users need greater visibility into the full breadth of their enterprise data and processes in order to maximise operational efficiency and strategic decision-making. By combining the latest technologies in data fabric, process mining, machine learning, and generative AI, Process HQ helps monitor and improve every business process built on Appian. Process HQ makes it easy to reduce costs, risks, and delays, improve compliance, and drive better business outcomes, without the need for costly and time-consuming data collection efforts.
Appian is now an industry leader across its value proposition to Design, Automate, and Optimise the most complex business processes. In addition to today’s announcement, Appian was named a Leader in the 2023 Gartner® Magic Quadrant™ for Enterprise Low-Code Application Platforms report, and was ranked #1 for the Business Workflow Automation with Integration Use Case in the 2023 Gartner® Critical Capabilities for Enterprise Low-Code Application Platforms (LCAP) report.
To access the report and to learn more about Appian’s positioning, visit https://ap.pn/3y2ClZy. Register for our upcoming webinar Process Intelligence Made Easy: The Key to Better Business Decisions on June 20, 2024 at 12pm EST to discover how Process HQ can improve business processes.
Gartner disclaimerGartner does not endorse any vendor, product or service depicted in our research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner research organisation and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose. GARTNER is a registered trademark and service mark of Gartner and Magic Quadrant is a registered trademark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and are used herein with permission. All rights reserved.
About Appian
Appian is a software company that automates business processes. The Appian AI Process Platform includes everything you need to design, automate, and optimise even the most complex processes, from start to finish. The world’s most innovative organisations trust Appian to improve their workflows, unify data, and optimise operations—resulting in better growth and superior customer experiences. For more information, visit appian.com. [Nasdaq: APPN]
Follow Appian: LinkedIn, X, and X (UK).
Photo – https://mma.prnewswire.com/media/2403879/Appian_Garter_Gartner_MQ_ProcessMining.jpg
Logo – https://mma.prnewswire.com/media/1948800/Appian_400px_Blank_Logo.jpg

View original content:https://www.prnewswire.co.uk/news-releases/appian-named-a-leader-in-the-2024-gartner-magic-quadrant-for-process-mining-platforms-report-302135161.html

Continue Reading

Artificial Intelligence

Innodisk Introduces iCAP Air: Advancing Air Quality Management through Autonomous Decision-Making

Published

on

innodisk-introduces-icap-air:-advancing-air-quality-management-through-autonomous-decision-making

TAIPEI, May 3, 2024 /PRNewswire/ — Innodisk, a global leader in AI solutions, has taken a pivotal step forward in environmental sustainability with the launch of its latest innovation, the “iCAP Air” air quality management solution. This solution empowers businesses worldwide to enhance air quality, sustainability, and human health. Additionally, business can benefit from monthly AI-generated air quality data report, providing valuable insights for informed decision-making.

Leveraging its expertise in edge computing and software and hardware integration, along with the expertise of its subsidiary Sysinno in air quality detection, Innodisk has achieved the development of the “iCAP Air” air quality management solution. This solution integrates advanced technology, including the innovative “iAeris7” air quality detector from Sysinno, to deliver accuracy in detecting temperature, humidity, fine suspended particles (PM2.5), suspended particles (PM10), carbon dioxide (CO2), formaldehyde and total volatile organic compounds (TVOC). It can also be customized to detect NO2, SO2, CO, NH3, and other air factors. At the same time, the iAeris7 device is known for its reliability, patented technology, and various international certifications, including those from SGS and FCC/CE/RoHS/NCC/BSMI.
The solution also includes the “iCAP Air Server,” designed to manage large-scale deployment and data from up to 100 air quality detectors, ensuring seamless integration and efficient operation, even in complex environments. Additionally, iCAP Air provides a user-friendly air quality management platform, enabling organizations to monitor air quality in real-time via a mobile app or internet browser, receive automatic alerts, and optimize air purification or exhaust ventilation system.
iCAP Air is a comprehensive solution that simplifies air quality management for users. It is tailored for medium to large-sized sites or densely populated, enclosed spaces such as medical institutions, smart manufacturing facilities, public transportation hubs, indoor parking facilities, and department stores. Innodisk’s “iCAP Air” air quality management solution represents a milestone for all businesses committed to leveraging technology for the greater good of air quality and society.
Photo – https://mma.prnewswire.com/media/2404226/Press_Photo_iCAP_Air_Overview.jpgLogo – https://mma.prnewswire.com/media/826938/Innodisk_Corporation_Logo.jpg 

View original content:https://www.prnewswire.co.uk/news-releases/innodisk-introduces-icap-air-advancing-air-quality-management-through-autonomous-decision-making-302135455.html

Continue Reading

Trending