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Smart Speaker Market to Exceed USD 100 Billion by 2032 | CAGR 25.60%

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New York, March 13, 2023 (GLOBE NEWSWIRE) — The Global Smart Speakers Market size was accounted at USD 10.8 billion in 2022. It is expected to reach USD 100 billion in the forecast period of 2023-2032 with a CAGR of 25.6%. Voice recognition with virtual assistants which is also known as smart speakers, acts as a central control hub for the variety of smart home functions with smart technology, such as entertainment, query resolutions, online surfing, and many other activities. With the increase in the popularity of smart home technology, the demand of these smart speaker devices in the homes have increased globally.

smart speaker market

Get additional highlights on major revenue-generating segments, Request a Smart Speakers Market sample report at https://market.us/report/smart-speaker-market/request-sample/

Key Takeaway:

  • By Intelligent Virtual Assistant, in 2022, the Alexa segment has generated highest revenue in Global Smart Speakers Market share in 2022.
  • By Component, the Software segment is dominating the market and it is growing at significant rate over the forecast period 2023 to 2032.
  • In 2022, North-America Region dominated the market with the highest revenue share of 36.4%.
  • APAC Region has held second Position in revenue share in 2022.
  • Europe will grow at a significant rate from 2023-2032.

In the forecasted period, demand for the smart speaker product is expected to increase due to the growing demand for the speaker systems in residential applications. A few of the important factors forecasted to provide market opportunities to the major competitors includes the development of artificial intelligence, the proliferation of smart home products, and the expansion of display-based technologies.

Additionally, major market players are trying to expand their business divisions globally. In addition, the COVID-19 pandemic has increased the demand for the smart speakers across the globe. Developments in AI technology are leading to an increase in virtual assistants such as Deep neural networks, machine learning, and others.

Factors affecting the growth of Smart Speakers industry

There are several factors that can affect the growth of the Smart Speakers industry. Some of these factors include:

  • Increasing Demand: The demand for smart speakers has been increasing with the increasing popularity of voice-based user interfaces. This has driven the growth of the industry.
  • New Technologies: The emergence of new technologies such as artificial intelligence (AI) and natural language processing (NLP) has enabled smart speakers to offer more sophisticated functionalities and features, thus driving the growth of the industry.
  • Innovation: The industry is witnessing rapid innovation with the introduction of new features and functionalities. This has increased the demand for smart speakers, thus driving the growth of the industry.
  • Low Prices: The prices of smart speakers have significantly decreased in recent years, making them more affordable to a larger audience. This has further driven the growth of the industry.
  • Growing Competitors: With the emergence of new players in the market, the competition has increased, which has further propelled the growth of the industry.
  • Growing Adoption: The growing adoption of smart speakers across various sectors such as hospitality, education, and healthcare is further driving the growth of the industry.

To understand how our Smart Speaker Market report can bring a difference to your business strategy, Inquire about a brochure at https://market.us/report/smart-speaker-market/#inquiry

Top Trends in Smart Speaker Market

An artificial intelligence called as NLP that allows the customer to give a command to the smart speaker. AI gives more advantages in making conversational capabilities with natural processing language. The market growth is supported by these advanced technologies.

Product innovation and differentiation are the main focus of the Smart speaker manufacturers as they are steadily moving toward consolidation through joint ventures, mergers & acquisitions, and collaborative partnerships. Such trends which are witnessed in the market are boosting the demand for the smart speakers and eventually driving the market growth.

Market Growth

Adoption of smart home devices by the consumers which includes, security cameras, smart lights, smart kitchen appliances, smart locks, thermostats, and smart TVs. All the smart devices can be easily controlled and operated remotely by this type of speaker which acts as a single point of control and contact hub.

For example, Xiaomi is developing an Artificial Intelligence of Things which is also called as AIoT system with the help of a control hub which is a speaker that would help in connecting its other IoT products.

Regional Analysis

North America region dominates the smart speaker market with a share of 36.4%. North America has a strong presence of early suppliers and adopters of major smart speakers in terms of revenue and market owing. The accessibility of customers to new technologies is also encouraging the manufacturers to develop new and advanced products in the region. However, APAC region is expected to surpass North-America and become the largest and most profitable market by 2025.

Asia Pacific is expected to dominate the market at a significant rate for the forecasted period. India, Japan and China are the three most important countries of APAC. Countries like Japan and China have different manufacturers of smart speakers. The increasing adoption of smart homes with smart devices is driving the growth of the market. Additionally, smart city projects going on in the countries like India and China are going to be the drivers of market growth.

Competitive Landscape

By launching new products in the market and reducing the prices of the old products in the market, is the strategy used by Amazon. Amazon shares major market size with the market share of 22.5% of the smart speaker’s market size. Amazon has been coming up with a variety of products for smart speakers to attract customers like echo, Alexa, and other products.

Amazon have been a trendsetter in the market, and it is leading in innovation and technology. Amazon has collaborated with companies such as BMW and Microsoft for the growth of the smart speaker market. Major market players are developing speakers with the functions like AI and more functions. Moreover, increasing competition in the market forces major market players to focus on acquisition strategies to consolidate their positions.

Scope of the Report

Report Attribute Details
Market Value (2022) USD 10.8 Billion
Market Size (2032) USD 100 Billion
CAGR (from 2023 to 2032) 25.60%
North America Revenue Share 36.4%
Historic Period 2016 to 2022
Base Year 2022
Forecast Year 2023 to 2032

Market Drivers

The main factors which is supporting the growth of the smart speaker market is the rise in the manufacturing of the electronics and the growing demand for wireless connectivity. In technologically advanced countries, Smart speakers with local voice support have a high demand and huge growth potential.

With increasing technology such as social networking, speed internet, online content streaming, and video calling capabilities, major market players are increasingly shifting to display their base devices. These products work on intelligent voice assistance and are regularly updated and improved in response to customer feedback.

With homeowner’s need for a convenient and comfortable lifestyle, smart home connected solutions demand are raising rapidly. With internet connectivity and the ability to control the household products through their mobile devices, consumer interest is shifting to smart products. With all the advantages, people in both technologically advanced and emerging regions are rapidly switching to smart speakers. Due to the growth and demand of the smart homes devices there is a rise in the smart speakers with AI in the forecasted period.

Market Restraints

The Use of Voice assistant-capable smart speakers has increased due to Smart homes with integrated user personal data. One of the main worries of the users of smart speakers is the unintentional activation of smart speakers by voice commands encoded in the websites or television advertising.

Most of the smart speakers have the ability to connect to any local network and any other device on that network, which changes the smart speaker’s settings or conducting a factory reset without the user’s permission. To avoid such hazards, a secure local network and a strong account password are required. Additionally, smart speakers are connected to other smart devices which are usable by other people, such as smartphones, smart locks, TVs, and radios.

Some smart speakers allows voice purchasing on the device, so someone else can utilize assistance to place an online item which can result in loss. A smart speaker can also be activated with a one-click order if it is connected to an Amazon Prime account. Users must therefore safeguard their settings and keep an eye on their notifications.

Market Opportunities

With the increasing customers and growing market, spending on the technologically advanced or smart consumer electronic devices which are easy to carry, portable, easy to handle, and well-built quality has forced the manufacturers to include te feature of voice assistance and voice commands in the speakers. There has been enormous demand for multifunctional, high-speed, easy-to-use smart speakers.

The development of wireless 5G infrastructure and development in natural language processing which is also called as NLP has opened many doors in the developing nations globally. NLP is an artificial intelligence that allows the customer to give a command to the smart speaker.

Grow your profit margin with Market.us – Purchase This Premium Smart Speaker Market Report at https://market.us/purchase-report/?report_id=51895

Report Segmentation of the Smart Speaker Market

Intelligent Virtual Assistant Insight

Based on IVA, the global smart speaker market is segmented into Alexa, Siri, DuerOS, Google Assistant, Ali Genie, Cortana, and others. Alexa segment dominates the market globally.

Alexa-enabled speakers are making a big contribution to the market due to its range of smart speakers and smart devices available and the compelling features alexa offers.

Siri from Apple is largely used by a wide audience of younger age groups, with 60% of those between 18 and 24 who are using it. On the other side, voice assistant users who are 35 and older are far more likely to utilize Alexa.

Component Insight

The software segment has a competitive advantage over the hardware segment. The software segment dominates the market and shares a major market size than the hardware segment due to Google, Amazon, Apple, and Others by offering regular updates to the customers, which helps the software segment of the smart speaker to take an edge ahead of the hardware segment.

Echo, Dot, Amazon Smart Plug, and Echo Auto are different software versions of Alexa devices. The cheaper version of the Amazon Echo speaker is also called 2022’s best and smartest version of the speaker. The market for the Hardware segment falls short of competing with the software segment due to the decrease in the demand for hardware components which are processors, memory, mic, and others. Rather than buying hardware components of the smart speaker, customers go with buying a new one.

Application Insights.

Depending on the application segments, the Smart Home segment dominates the market growth globally. According to the data of the year 2022, smart homes have 102.5 million new users worldwide. The number is much more higher than the smart office, which is the reason for the smart homes dominating the growth of the market globally.

Some of the smart home gadgets such as smart appliances, security cameras, smart locks, smart lighting, and smart TVs are becoming popular among the consumers day by day.

Recent Development of the Smart Speaker Market

  • In May 2022, Apple announced that it plans to launch a new version of its HomePod smart speaker in late 2022 or early 2023. In July 2022, Xiaomi launched its second-ever smart speaker.
  • In 2020 – Xiaomi introduced its first smart speaker in the market with Google Assistant. This technology can converse in Hindi and English. In July 2022, Xiaomi launched its second-ever smart speaker with big upgrades to the previous version.

For more insights on the historical and Forecast smart apeaker market data from 2016 to 2032 – download a sample report at https://market.us/report/smart-speaker-market/request-sample/

Market Segmentation

By IVA

  • Siri
  • Alexa
  • Google
  • Assistant
  • DuerOS
  • Cortana
  • Ali Genie
  • Others

By Components

  • Hardware
  • Software

By Application

  • Smart Home
  • Smart Office
  • Consumers

By Geography

  • North America
  • Canada
  • Mexico
  • Western Europe
    • Germany
    • France
    • The UK
    • Spain
    • Italy
    • Portugal
    • Ireland
    • Austria
    • Switzerland
    • Benelux
    • Nordic
    • Rest of Western Europe
  • Eastern Europe
    • Russia
    • Poland
    • The Czech Republic
    • Greece
    • Rest of Eastern Europe
  • APAC
    • China
    • Japan
    • South Korea
    • India
    • Australia & New Zealand
    • Indonesia
    • Malaysia
    • Philippines
    • Singapore
    • Thailand
    • Vietnam
    • Rest of APAC
  • Latin America
    • Brazil
    • Colombia
    • Chile
    • Argentina
    • Costa Rica
    • Rest of Latin America
  • Middle East & Africa
    • Algeria
    • Egypt
    • Israel
    • Kuwait
    • Nigeria
    • Saudi Arabia
    • South Africa
    • Turkey
    • United Arab Emirates
    • Rest of MEA

Key Market Players

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More than $9 Million Awarded to High School Scientists and Engineers at the Regeneron International Science and Engineering Fair 2024

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Grace Sun, 16, receives $75,000 Top Award for a new kind of organic electrochemical transistor at the world’s largest pre-college science, technology, engineering and math (STEM) competition.
TARRYTOWN, N.Y. and WASHINGTON, May 17, 2024 /PRNewswire/ — Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) and Society for Science (the Society) announced that Grace Sun, 16, of Lexington, Kentucky, won the $75,000 top award, the George D. Yancopoulos Innovator Award, named in honor of the pioneering drug researcher and Regeneron co-Founder, Board co-Chair, President and Chief Scientific Officer, in the 2024 Regeneron International Science and Engineering Fair (Regeneron ISEF), the world’s largest pre-college science and engineering competition. Other top prizes went to projects in second-order cone programming, microplastics filtration and multi-sensory therapy for dementia.

The top winners were honored during two award ceremonies: the Special Awards on May 16 and the Grand Awards Ceremony on the morning of May 17. In total, over $9 million USD was awarded to the finalists based on their projects’ creativity, innovation and depth of scientific inquiry. The competition featured nearly 2,000 young scientists representing 49 U.S. states and nearly 70 countries, regions and territories across the world.
Grace Sun, 16, of Lexington, Kentucky, won first place and received the $75,000 George D. Yancopoulos Innovator Award for her research on building a better organic electrochemical transistor that she hopes will be used to develop new electronic devices that could help detect and treat serious illnesses like diabetes, epilepsy and organ failure. To overcome the problems that have previously prevented such devices from working effectively inside the body, Grace developed a new way of chemically treating their organic components, which greatly improved their laboratory performance.
Michelle Wei, 17, of San Jose, California, received one of two Regeneron Young Scientist Awards of $50,000 for her research to improve the speed and efficiency of a type of software that is useful in many fields such as machine learning, transportation and financial systems. Michelle’s new approach involved determining a quick approximate solution to the second-order cone programming problem, then splitting the initial cone into smaller cones, which enabled her new algorithm to greatly outperform previous approaches.
Krish Pai, 17, of Del Mar, California, received the second Regeneron Young Scientist Award of $50,000 for his machine-learning research to identify microbial genetic sequences that can be modified to biodegrade plastic. His new software, called Microby, scans databases of microorganisms and determines which ones can be changed genetically to biodegrade plastics. In tests, he identified two microorganisms that can be genetically modified to degrade plastic at a cost he believes would be ten times less than traditional recycling.
 “Congratulations to the Regeneron International Science and Engineering Fair 2024 winners,” said Maya Ajmera, President and CEO, Society for Science and Executive Publisher, Science News. “I’m truly inspired by the ingenuity and determination shown by these remarkable students. Coming from around the world with diverse backgrounds and academic disciplines, these students have shown that it is possible to come together in unity to tackle some of the toughest challenges facing our world today, and I could not be prouder.”
Regeneron ISEF provides a global stage for the world’s best and brightest young scientists and engineers. Through this competition, Regeneron and the Society are fostering the next generation of STEM leaders who are pioneering solutions to improve our world. Since 2020, Regeneron has provided STEM experiences to approximately 2.4 million students, on track to meet its goal of 2.5 million by 2025.
“The talent, intelligence and potential of this year’s Regeneron ISEF finalists is truly inspiring, and I congratulate each on their remarkable achievements,” said George D. Yancopoulos, M.D., Ph.D., co-Founder, Board co-Chair, President and Chief Scientific Officer of Regeneron. “Science competitions like ISEF were pivotal in shaping my own career and fueling my passion to fight back against disease. I look forward to seeing these students continue to push the boundaries of science and technology to create positive and sustainable change for all humanity.”
Other top honors from the competition include:
Justin Huang and Victoria Ou, both 17, of Woodlands, Texas, received the Gordon E. Moore Award for Positive Outcomes for Future Generations of $50,000 for their new prototype filtration system that uses ultrasonic waves to remove microscopic plastic particles from water. In lab tests, the acoustic force from the high-frequency sound waves removed between 84% and 94% of the suspended microplastic particles in a single pass. The students are now working to scale up and fine-tune their experimental system.
Ingrid Wai Hin Chan, 17, of Hong Kong, China received the Craig R. Barrett Award for Innovation of $10,000 for her research on using a multi-sensory therapy for dementia patients. Her mixed therapy app would allow patients to practice physical and cognitive skills through a personalized, immersive environment using virtual reality headsets. Ingrid conducted an eight-week study with six people living with dementia and found that the cognitive function of patients who used her prototype improved in several areas. She believes her app could serve as a viable option for dementia patients with limited access to in-person professional therapy.
Tanishka Balaji Aglave, 15, of Valrico, Florida, received the H. Robert Horvitz Prize for Fundamental Research of $10,000 for her investigation into a natural alternative treatment against citrus greening, a disease that threatens citrus farming in many parts of the world and is currently only treated with antibiotics. Tanishka injected the trunks of infected trees with an extract from the curry leaf tree, and found through tests that this potential method could effectively and sustainably manage citrus greening disease.
Maddux Alexander Springer, 18, of Honolulu, Hawaii, received the Peggy Scripps Award for Science Communication of $10,000 for his research into fibropapillomatosis (FP), a disease that is the primary cause of death in green sea turtles. Some turtles he studied in Kaneohe Bay, Hawaii, were stricken with a disease that causes internal and external tumors that inhibit their everyday lives. After analyzing the turtles’ diet of green algae, Maddux concluded that this disease, wastewater, invasive algae and the amino acid arginine all pose a grave risk to these endangered sea creatures.
Ria Kamat, 17, of Hackensack, New Jersey; Anna Oliva, 17, of Houston, TX; and Shuhan Luo, 18, of Worcester, MA, received the Dudley R. Herschbach SIYSS Award, which provides finalists an all-expense paid trip to attend the Stockholm International Youth Science Seminar during Nobel Week in Stockholm, Sweden.
Jack Shannon, 18, of Clane, Kildare, Ireland, and Nikhil Vemuri, 17, of Cary, North Carolina, received the EU Contest for Young Scientists Award. Their projects will represent Regeneron ISEF at the EU Contest for Young Scientists to be held this September in Katowice, Poland.
For more information about the top winners and access to visual assets visit:  https://www.societyforscience.org/isef-2024-media-kit.
The full list of Special Award ISEF 2024 Finalists can be found at https://www.societyforscience.org/press-release/regeneron-isef-2024-special-awards-winners.
In addition to the Top Award winners, more than 450 finalists received awards and prizes for their innovative research, including “First Award” winners, who each received a $5,000 prize.
The following lists the First Award winners for each of the 22 categories, from which the Top Awards were chosen:
Animal Sciences, sponsored by Society for ScienceMaddux Alexander Springer, Honolulu, Hawaii
Behavioral and Social Sciences, sponsored by Society for ScienceAndrew Y. Liang, San Jose, California
Biochemistry, sponsored by RegeneronAmy Hong Xiao, Garden City, New York
Biomedical and Health Sciences, sponsored by RegeneronRia Kamat, Hackensack, New Jersey; Kevin Xuan Lei, Shanghai, China
Biomedical Engineering, sponsored by Alfred E. Mann CharitiesAyush Garg, Dublin, California; Divij Motwani, Palo Alto, California; Akash Ashish Pai, Portland, Oregon
Cellular and Molecular Biology, sponsored by RegeneronLara and Maya Sarah Hammoud, Beverly Hills, Michigan
Chemistry, sponsored by Society for ScienceAkilan Sankaran, Albuquerque, New Mexico; Arjun Suresh Malpani and Siddharth Daniel D’costa, Portland, Oregon
Computational Biology and Bioinformatics, sponsored by RegeneronKun-Hyung Roh, Bronx, New York
Earth and Environmental Sciences, sponsored by Google.orgNikhil Vemuri, Durham, North Carolina; Justin Yizhou Huang and Victoria Ou, The Woodlands, Texas
Embedded Systems, sponsored by HPChloe Rae and Sophie Rose Filion, Welland, Ontario, Canada
Energy: Sustainable Materials and Design, sponsored by Siemens EnergyAlia Wahban, Hamilton, Ontario, Canada
Engineering Technology: Statics and Dynamics, sponsored by Howmet Aerospace FoundationChiyo Nakatsuji, Bunkyoku, Tokyo, Japan; Kevin Shen, Olympia, Washington
Environmental Engineering, sponsored by JacobsKrish Pai, San Diego, California; Jack Shannon, Clane, Kildare, Ireland
Materials Science, sponsored by Howmet Aerospace FoundationGrace Sun, Lexington, Kentucky
Mathematics, sponsored by Akamai FoundationAnna Oliva, Houston, Texas
Microbiology, sponsored by Schattner FoundationMatthew Chang, Irvine, California
Physics and Astronomy, sponsored by Richard F. Caris Charitable Trust IIHarini Thiagarajan and Vishal Ranganath Yalla, Bothell, Washington; Shuhan Luo, Worcester, Massachusetts
Plant Sciences, sponsored by Society for SciencePauline Estrada, Fresno, California; Tanishka Balaji Aglave, Dover, Florida
Robotics and Intelligent Machines, sponsored by RegeneronMichal Lajciak, Dubnica nad Vahom, Trenciansky kraj, Slovakia; Anthony Efthimiadis, Oakville, Ontario, Canada
Systems Software, sponsored by MicrosoftMichelle Wei, San Jose, California
Technology Enhances the Arts, sponsored by Society for ScienceAnant Khandelwal, Sritan Motati and Siddhant Sood, Alexandria, Virginia
Translational Medical Science, sponsored by RegeneronZheng-Chi Lee, West Lafayette, Indiana; Ingrid Wai Hin Chan, Hong Kong, China
The full list of all award-winning ISEF 2024 finalists is available here: https://www.societyforscience.org/press-release/regeneron-isef-2024-full-awards.
View all the finalists’ research here: https://projectboard.world/isef.
About the Regeneron International Science and Engineering FairThe Regeneron International Science and Engineering Fair (Regeneron ISEF), a program of Society for Science for over 70 years, is the world’s largest global science competition for high school students. Through a global network of local, regional and national science fairs, millions of students are encouraged to explore their passion for scientific inquiry. Each spring, a group of these students is selected as finalists and offered the opportunity to compete for approximately U.S. $9 million in awards and scholarships.
In 2019, Regeneron became the title sponsor of ISEF to help reward and celebrate the best and brightest young minds globally and encourage them to pursue careers in STEM to positively impact the world. Regeneron ISEF is supported by a community of additional sponsors, including Akamai Foundation, Alfred E. Mann Charities, Aramco, Caltech, Google.org, Gordon and Betty Moore Foundation, Howmet Aerospace Foundation, HP, , Jacobs, King Abdulaziz & his Companions Foundation for Giftedness and Creativity, Microsoft, National Geographic Society, Richard F. Caris Charitable Trust II, Rise, an initiative of Schmidt Futures and the Rhodes Trust, Schattner Foundation, Siemens Energy, Annenburg Foundation, Ballmer Group, Broadcom Foundation, Cesco Linguistic Services, Conrad N. Hilton Foundation, Edison International, Insaco, Oracle Academy, The Eli and Edythe Broad Foundation, The Ralph M. Parsons Foundation and US Army ROTC. Many are entrepreneurs across a wide range of industries. Learn more at https://www.societyforscience.org/isef/.
About Society for ScienceSociety for Science is a champion for science, dedicated to promoting the understanding and appreciation of science and the vital role it plays in human advancement. Established in 1921, Society for Science is best known for its award-winning journalism through Science News and Science News Explores, its world-class science research competitions for students, including the Regeneron Science Talent Search, the Regeneron International Science and Engineering Fair and the Thermo Fisher Scientific Junior Innovators Challenge, and its outreach and equity programming that seeks to ensure that all students have an opportunity to pursue a career in STEM. A 501(c)(3) membership organization, Society for Science is committed to inform, educate and inspire. Learn more at www.societyforscience.org and follow us on Facebook, Twitter, Instagram and Snapchat (Society4Science).
About RegeneronRegeneron (NASDAQ: REGN) is a leading biotechnology company that invents, develops and commercializes life-transforming medicines for people with serious diseases. Founded and led by physician-scientists, our unique ability to repeatedly and consistently translate science into medicine has led to numerous approved treatments and product candidates in development, most of which were homegrown in our laboratories. Our medicines and pipeline are designed to help patients with eye diseases, allergic and inflammatory diseases, cancer, cardiovascular and metabolic diseases, neurological diseases, hematologic conditions, infectious diseases and rare diseases. 
Regeneron believes that operating as a good corporate citizen is crucial to delivering on our mission. We approach corporate responsibility with three goals in mind: to improve the lives of people with serious diseases, to foster a culture of integrity and excellence and to build sustainable communities. Regeneron is proud to be included on the Dow Jones Sustainability World Index and the Civic 50 list of the most “community-minded” companies in the U.S. Throughout the year, Regeneron empowers and supports employees to give back through our volunteering, pro bono and matching gift programs. Our most significant philanthropic commitments are in the area of early science education, including the Regeneron Science Talent Search and the Regeneron International Science and Engineering Fair (ISEF).
For more information, please visit www.Regeneron.com or follow Regeneron on LinkedIn, Instagram, Facebook or X.
More information about the top winners and access to visual assets visit:  https://www.societyforscience.org/isef-2024-media-kit.
Media ContactsJoseph Brown, [email protected]
Gayle Kansagor, Society for [email protected]
Photo – https://mma.prnewswire.com/media/2416174/Regeneron_ISEF_2024_Winners_Photo.jpg 
Logo – https://mma.prnewswire.com/media/2416197/Society_for_Science_Logo.jpg 

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J.P. Morgan Life Sciences Private Capital, Blue Horizon Advisors and United Al Saqer Announce Winner of Inaugural 2024 Life Sciences Innovation Summit

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In conjunction with Abu Dhabi Global Healthcare Week 2024
ABU DHABI, UAE, May 17, 2024 /PRNewswire/ — J.P. Morgan Life Sciences Private Capital, Blue Horizon Advisors and United Al Saqer Group announced today Rayees Rahman of Harmonic Discovery as the winner of the inaugural J.P. Morgan Asset Management: Life Sciences Innovation Summit. Harmonic Discovery is a precision pharmacology company applying its generative chemistry platform to advance next-generation kinase inhibitors.

In partnership with the Department of Health – Abu Dhabi (DoH), the Summit took place on May 14-15, 2024 at Cleveland Clinic Abu Dhabi and showcased the 11 innovative finalists, as well as highlighted existing innovators and opportunities in the Emirate of Abu Dhabi. The event also featured keynote speeches from Dr. Laurie Glimcher of Dana-Farber Cancer Institute, Dr. Shahrukh Hashmi of the Department of Health – Abu Dhabi, and Dr. David Ho of Columbia University Medical Center and provided attendees networking opportunities to gain valuable insights into the future of life sciences innovation. 
In addition, the jury designated Chun-Hao Huang of Algen Biotechnologies as honourable mention. Algen Biotechnologies is a platform therapeutics and drug discovery company using world-leading CRISPR and AI to find treatments for cancer, inflammation and metabolic diseases.
The winners were selected by an esteemed, international panel of judges, which included:Laurie Glimcher, MD, President and CEO at Dana-Farber Cancer InstituteJorge Guzman, MD, CEO at Cleveland Clinic Abu DhabiProf. Shahrukh Khurshid Hashmi, MD, Director of Research, Department of Health, Abu DhabiYasmine Hayek Kobeissi, PhD, CQF, BSc., Executive Director at Blue Horizon AdvisorsAnya Schiess, Managing Partner at J.P. Morgan Life Sciences Private CapitalWalid Zaher, PhD, Co-Founder and CEO, Carexso
Dr. Asma Al Mannaei, Executive Director of the Research and Innovation Centre at the Department of Health – Abu Dhabi said: “Under the directives of the UAE’s wise leadership, and renowned for its world-leading medical infrastructure, Abu Dhabi stands at the forefront of healthcare excellence, offering an unparalleled opportunity for advancement in healthcare for global partners. It was our utmost pleasure hosting the J.P. Morgan Asset Management Life Sciences Innovation Summit 2024 on the sidelines of Abu Dhabi Global Healthcare Week and we commend the winners for their pioneering efforts in driving impactful advancements in healthcare; their dedication to innovation not only transforms the landscape of medicine, but also holds the promise of improving lives worldwide.” 
Stephen Squinto, PhD, Chief Investment Officer, J.P. Morgan Life Sciences Private Capital said: “We are thrilled with the level of biotech passion and innovation that we observed at this year’s Summit in Abu Dhabi. The energy was truly palpable we are thrilled to announce Rayees Rahman as the winner of our first Life Sciences Innovation Summit. Harmonic Discovery’s approach embodies the next generation of drug discovery and development. We appreciate the time and effort of all participants and cannot wait for our next event in the region.”
Nabil Kobeissi, Chief Executive Officer of Blue Horizon Advisors, said: “As the main sponsor, we are committed to nurturing and fostering the growth of all 11 finalists in this vibrant biotech ecosystem. This Summit marks the beginning of a transformative journey, and we are confident that it will pave the way for a flourishing hub in the region. We are also pleased to announce that we will commit to invest in and partner with the winner, Harmonic Discovery, to support its future growth in the region.”
Sponsors for the event included J.P. Morgan Life Sciences Private Capital, J.P. Morgan Commercial Bank, Blue Horizon Advisors, United Al Saqer Group, Thermo Fisher Scientific, and Salam Capital. The Summit organisation, logistics and finalist recruitment were facilitated by Lyfebulb.
Of importance, at the Summit, Mr. Mohamed Al Breiki, Executive Director of Sustainable Development at Masdar City, announced that Masdar City Free Zone would award all 11 Finalists complimentary business licenses to further support their establishment in the region. Masdar City is one of the world’s most sustainable urban developments and innovation hubs with a growing focus on life science entrepreneurship in Abu Dhabi.

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Congregating in the Lion City for a Win-Win Future of Intelligent Computing at the Global Data Center Facility Summit 2024

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congregating-in-the-lion-city-for-a-win-win-future-of-intelligent-computing-at-the-global-data-center-facility-summit-2024

SINGAPORE, May 17, 2024 /PRNewswire/ — On May 17, 2024, the Global Data Center Facility Summit 2024 was held in Singapore with the theme of “Power the Digital Era Forward.” At the summit, over 600 data center industry leaders, technical experts, and ecosystem partners gathered to discuss new trends and opportunities of the global data center industry in the intelligent computing era. The attendees also got to experience all-scenario, all-ecosystem, and all-service end-to-end (E2E) solutions, share innovative practices of green data centers in the Asia Pacific and Europe, and experience the exhibition vehicle to unveil the mystery of Outdoor PowerPOD that features one power system per container. By fully embracing the intelligent computing era, Huawei strives to power the digital era forward.

Seizing Opportunities Brought by AI and Jointly Building Green & Reliable Computing Infrastructure
At the opening speech, Charles Yang, Senior Vice President of Huawei and President of Marketing, Sales and Services, Huawei Digital Power, noted that since ChatGPT ushered in the AI era, large models keep pushing the limits of computing power and the intelligent computing industry is witnessing an unprecedented construction boom. As predicted, 100 GW will be added to the global data center installed capacity and the market value will exceed US$600 billion in the next five years.
According to Charles, with opportunities come challenges. The primary challenge concerning the data center industry is reliability and electricity. Data centers are scaling up from the MW-level to the GW-level. E2E reliability of data centers is becoming even more important than ever. In response to the opportunities, Huawei will work with customers and partners to expand the industry space.
Steering Data Centers to the AI Era with Product + Service + Ecosystem
During the summit, Sun Xiaofeng, President of Huawei Data Center Facility & Critical Power Business, delivered a speech titled “Power the Digital Era Forward. ” He stated that as AI large models are penetrating, the surging compute demands drive the expansive growth in data center.
To address the challenges, Huawei strives to build product + service + ecosystem E2E data center solutions that feature fast deployment, flexible cooling, green energy, and ultimate reliability.
Fast deployment: Data centers are fully modularized and prefabricated to ensure high quality and efficient construction.Flexible cooling: Air-liquid fusion and integrated cooling source emerges as the optimal cooling architecture for intelligent computing.Green energy: New generation-grid-load-storage integrated solution is built to ensure the sound operations of intelligent computing centers.Ultimate reliability: Data centers are safeguarded through reliable products and preventive protection.Currently, Huawei’s global service network covers more than 170 countries with over 1800 professional engineers, providing 24/7 technical support. With N+ flagship service centers, Huawei has built a one-hour service radius for its customers.
The ecosystem is a key part for a win-win future of intelligent computing. Huawei works with partners to develop comprehensive E2E solutions and provide customers with one-stop data center services.
During the summit, Huawei and the ASEAN Centre for Energy released a white paper on “Building Next Generation Data Center Facility in ASEAN.” The document provides insights into the status quo, challenges, and trends of data centers in the ASEAN region, and emphasizes that efficient and energy-saving products and solutions should be applied. It also proposes future-oriented policy recommendations for data center markets.
In the ecosystem exhibition area, Huawei showcased scenario-based solutions for large-, medium-, and small-sized data centers, and demonstrated data center consulting, design, integrated development, and delivery capabilities with dozens of ecosystem partners including CIMC, Weichai, CSCEC, and Huashi.
On a special note, the Huawei Outdoor PowerPOD exhibition vehicle made its global debut. The Huawei Outdoor PowerPOD features one power system per container, outdoor deployment, plug-and-play, and high protection rating and reliability. It has become the preferred choice for decoupling the power supply architecture.
A single tree cannot make a forest.
AI is presenting great opportunities. By delving into the industry, aggregating partner ecosystems, and making innovations applicable to transformations, Huawei will continue to help customers build reliable computing infrastructure, accelerating the industry to embrace AI and powering the digital era forward.
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