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Smart Spaces Market To Hit USD 5.6 Billion at a 14.5% CAGR by 2030 – Report by Market Research Future (MRFR)

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New York, US, March 14, 2023 (GLOBE NEWSWIRE) — Market Analysis

According to a comprehensive research report by Market Research Future (MRFR), “Smart Spaces Market Research, by Component, by Application, by Premise Type, By Region – Forecast 2030”. Valuation is poised to reach USD 5.6 Billion by 2030, registering a 14.5% CAGR throughout the forecast period (2022–2030).

Drivers

Increase in Greenfield Projects to Boost Market Growth

While more developed cities struggle with concerns including growing populations and infrastructure limits, a number of emerging nations are turning to Greenfield techniques to lessen the load on them. A further element driving the expansion of the smart space market is the integration of smart infrastructure into new construction projects such as factories, power plants, airports, and buildings. The Greenfield initiative primarily focuses on brand-new infrastructure and buildings, negating the need to integrate with any legacy systems—another important aspect boosting the market for smart spaces.

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Smart Spaces Market Key Players

Eminent industry players profiled in the smart spaces market report include

  • ABB (Switzerland)
  • Cisco Systems Inc., (US)
  • ICONICS, Inc. (US)
  • Coor (Sweden)
  • Siemens AG (Germany)
  • FASEAS SPACEWELL (Belgium)
  • Eutech Cybernetic Pte. Ltd (Singapore)
  • Huawei Technology Co Ltd (China)
  • Schneider Electric (France)
  • Smarten Spaces (Singapore)
  • Smart Space Software Plc (UK)
  • Hitachi Vantara Corporation (US)
  • Ubisense (UK)
  • Adappt (US)

Smart Spaces Market Report Scope:

Opportunities

Technological Advancements to offer Robust Opportunities

A crucial trend that is becoming more and more popular in the smart market is technological improvement. In order to increase building efficiency and enhance occupant wellbeing, businesses in the smart space sector are using IoT & digital twin technology to collect insights and data. The IoT is becoming a crucial component of smart devices and homes. The usage of technology makes it possible to link and control multiple devices for monitoring & regulating purposes in an efficient manner. The convenience of operating devices and applications & the ability to personalize them thanks to technology is driving up demand for the market for smart spaces. The main advantage of integrating IoT infrastructure is to provide safety and security by allowing authorized access utilizing real-time data that helps with the overall administration and monitoring of building security.

Browse In-depth Market Research Report (111 Pages) on Smart Spaces Market:
https://www.marketresearchfuture.com/reports/smart-spaces-market-7961

Restraints and Challenges

High Deployment Cost to act as Market Restraint

The high deployment cost, lack of technical expertise, and security concerns may act as market restraints over the forecast period.

Market Segmentation

The global smart spaces market is bifurcated based on component, application, and premise type.

By component, professional services will lead the market over the forecast period.

By application, energy management & optimization will dominate the market over the forecast period.

By premise type, commercial areas will spearhead the market over the forecast period.

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COVID-19 Analysis

Due to the rising shift towards the establishment of the safe smart spaces & the huge increase in IoT implementation, the COVID-19 epidemic has significantly accelerated the market’s growth rate. Also, the sector is benefiting from the rise of smart buildings brought on by the epidemic. Social segregation, occupancy tracking and monitoring, HVAC (heating, ventilation, and air conditioning) systems, smart heating, & more stringent cleaning standards are some of the features that smart buildings offer.

Regional Analysis

North America to Head Smart Spaces Market

Over the projection period, North America is anticipated to hold the biggest market share worldwide for smart spaces. The highly skilled workforce and the presence of industry heavyweights like IBM Corporation, Cisco System Inc., and SmartSpace Software Plc are two factors that have contributed to the market’s growth. The market is dominated by North America. Several factors, including significant government investment in cutting-edge and intelligent technologies, an increase in IoT devices, & a solid technological foundation, are responsible for this region’s market growth. The region of North America held the biggest market share. This might be for the development of a number of reputable market companies that provide end-users in the area with Smart space solutions. Due to their long histories of economic strength, the United States & Canada play a significant role in the evolution of the smart space sector. When it comes to the creation of smart spaces, North America is in fact the most advanced region. The bulk of the region’s nations are among the first to use smart space technologies including machine learning, the IoT, and artificial intelligence. This region’s market is expanding as a result of a variety of factors, including substantial government support for cutting-edge and intelligent technologies, rise in IoT devices, & a solid technological basis.

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APAC to Have Favorable Growth in Smart Spaces Market

During the time of the assessment, the smart spaces market’s fastest expanding region is anticipated to be Asia-Pacific. The market expansion is linked to the expansion of smart city initiatives in China, India, and Vietnam, three growing economies. Due to the connected systems proliferation supported by the continuous trend of smart workplaces and homes in the region as well as the government-driven infrastructure projects, Asia-Pacific is predicted to experience the fastest growth rate over the forecast period. The second most important region is Asia. Singapore is a market with several opportunities due to its diversified consumer base and changing end-user purchasing patterns, as well as the government’s announcement in March 2019 of its intentions to turn into a smart nation. One of the foremost regions affected by the COVID-19 epidemic was Asia. Major businesses have stopped operating as a result of the virus’s rapid growth in countries like the Philippines, Japan, China, India, Indonesia, Burma, Singapore, and Bangladesh.

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About Market Research Future:

Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.

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Artificial Intelligence

Global Insurance Provider Selects 3CLogic to Streamline AI and Contact Center Capabilities with ServiceNow

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Multinational Insurance Broker to deploy 3CLogic’s solution with ServiceNow’s Financial Service Operations (FSO) platform to streamline customer experiences.
ROCKVILLE, Md., April 25, 2024 /PRNewswire/ — 3CLogic, the leading Conversational AI and Contact Center solution for ServiceNow®, today announced its selection by a global insurance provider to replace its existing contact center infrastructure as part of a larger CX transformation effort. The strategic decision is designed to complement the organization’s use of ServiviceNow’s Financial Services Operations (FSO) offering leveraged across a number of its existing product lines including Customer Warranty Claims, Roadside Assistance, and Home Warranties.

Serving millions of customers worldwide with innovative insurance and protective products, the organization required a solution that would enhance its recent investment in the ServiceNow platform as it works to transform its end-to-end customer service operations. The deployment will incorporate several of 3CLogic’s AI-powered capabilities purpose-built for ServiceNow, including Conversational AI, Speech Analytics, and AI Performance & Coaching, along with integrated call transcriptions, convenient 2-way SMS, and ServiceNow-centralized contact center reporting.
“We continue to see enterprises eager to complement their existing investment in digital platforms, such as ServiceNow, with contact center features purpose-built to extend the workflows and features they already have and use,” explains Matt Durkin, VP of Global Sales at 3CLogic. “It’s no secret that organizations are already juggling too many systems, often with overlapping capabilities, which impacts ROI and operational efficiency. We’re proud to offer an alternative approach that helps simplify the technology stack while optimizing the overall operational costs and outcomes.”
Recently named to Constellation Research’s 2024 Shortlist for Digital Customer Service and Support, 3CLogic has seen global adoption of its solution by leading enterprises in healthcare, manufacturing, travel, retail, higher education, finance, non-profits, and Managed Service Providers across five continents. As a ServiceNow-certified Technology and Build partner with offerings available for ServiceNow’s IT Service Management, Customer Workflows, HR Service Delivery, and Source-to-Pay solutions, the company will be unveiling its latest set of capabilities at ServiceNow’s annual Knowledge 2024 event this May in Las Vegas.
For more information, please contact [email protected].
About 3CLogic3CLogic transforms customer and employee experiences with its leading Cloud Contact Center and AI solutions purpose-built to enhance today’s leading CRM and Customer Service Management platforms. Globally available and leveraged by the world’s leading brands, its offerings empower enterprise organizations with innovative features such as intelligent self-service, generative and Conversational AI, agent automation & coaching, and AI-powered sentiment analytics – all designed to lower operational costs, maximize ROI, and optimize each interaction across IT Service Desks, Customer Support, Sales or HR Services teams. For more information, please visit www.3clogic.com.
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ScreenPoint Medical Leadership Transition: Pieter Kroese Confirmed as CEO

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Leading Breast AI Company, creator of industry-leading Transpara®, promotes from within for new CEO
NIJMEGEN, Netherlands, April 25, 2024 /PRNewswire/ — ScreenPoint Medical, today announced a significant transition in its leadership as Mark Koeniguer, the current CEO, steps down from his position. Mark served as CEO since 2022 and was instrumental in ScreenPoint’s commercial growth and success over the past 2 years.

 
 
The company’s Board of Directors has appointed Pieter Kroese as the new Chief Executive Officer effective April 25, 2024. Pieter takes the role after serving as COO of ScreenPoint for over five years. During that time, he has managed the transition of the company from an early startup to a thriving enterprise with hundreds of customers using ScreenPoint’s flagship Transpara software to support millions of scans a year.
“I am thrilled to lead ScreenPoint into its next phase of growth and innovation,” said Mr. Kroese. “I am deeply committed to building upon the strong foundation we have and continuing to work closely with our talented team to drive continued success. We are already expanding screening capacity and capability through proven reader support – we look forward to increasing our ability to support providers and women moving forward.”
Sir Michael Brady, Chairman of the Board at ScreenPoint Medical and a co-founder of the company, expressed enthusiasm about Pieter’s appointment, stating, “Pieter’s remarkable leadership qualities, coupled with his depth of knowledge of our product and industry, make him the perfect choice to lead ScreenPoint into the future. His strategic mindset and commitment to excellence align perfectly with our company mission of early breast cancer detection. Pieter has been an integral part of our growth to date and will provide seamless leadership through this transition into our next chapter for our customers, partners, and team.”
Author of “No Longer Radical” and over a hundred peer-reviewed publications on breast imaging, Dr. Rachel Brem is a Transpara user and ScreenPoint Board Member. Dr. Brem welcomed Mr. Kroese with the following: “Pieter has been an integral part of the ScreenPoint team for years. I am confident that his leadership will continue to deliver product excellence: earlier detection with outstanding reading workflow and improved patient outcomes. We continue to see these results from clinical sites all over the world, including many here in the United States. No other Breast AI solution has demonstrated the same results as Transpara, and I am confident that the team will continue to push on these frontiers under Pieter’s leadership.” 
The entire team at ScreenPoint extends its gratitude to Mark Koeniguer and wishes him every success in the future, while warmly welcoming Pieter Kroese into his new role as CEO.
About ScreenPoint Medical
ScreenPoint Medical translates cutting edge machine learning research into technology accessible by radiologists to improve screening workflow, decision confidence and breast cancer risk assessment. Transpara is trusted by radiologists globally because it has been developed by experts in machine learning and image analysis and updated with user feedback from world-renowned breast imagers.
See all the proof at: https://screenpoint-medical.com/evidence.
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Robotics Market to Surpass USD 126.96 Billion by 2031 | SkyQuest Technology

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WESTFORD, Mass., April 25, 2024 /PRNewswire/ — The growing need for automation, technological developments, and long-term cost reductions are driving a robust expansion in the worldwide robotics market. SkyQuest projects that Global Robotics Market size is poised to grow from USD 41.50 Billion in 2023 to USD 126.96 Billion by 2031, at a CAGR of 15% during the forecast period (2024-2031).

Download a detailed overview:
https://www.skyquestt.com/report/robotics-market
Browse in-depth TOC on the “Robotics Market”
Pages – 202Tables – 64Figures – 75Robotics Market Overview:
Report Coverage
Details
Market Revenue in 2023
$41.50 billion
Estimated Value by 2031
$126.96 billion
Growth Rate
Poised to grow at a CAGR of 15%
Forecast Period
2024–2031
Forecast Units
Value (USD Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
Application, End Users, and Region
Geographies Covered
North America, Europe, Asia Pacific, and the Rest of the world
Report Highlights
Collaborative Robotics
Key Market Opportunities
Prompting Several Industries to Adopt Automation Technologies
Key Market Drivers
Increasing Demand for Automation
Surge of Automation is Supporting Growth of Robotics Industry 
The industrial sector is generating high revenues for the global robotics market owing to extensive automation in manufacturing, which increases productivity and lowers overall production costs. Assembly line, painting, and welding robots have become essential, thereby propelling substantial market expansion in the automotive, electronics, and heavy duty sectors. Due to the increased usage of robots for non-manufacturing functions such as customer service, shipping, and healthcare, the services sector is expanding quickly. This rapid growth is being driven by technological improvements and the push for automation in services.
Surge in Advance Robotics is Bolstering Market Growth
The use of robotics in manufacturing processes is growing, and innovation in this field is happening quickly worldwide. By increasing productivity, efficiency, and precision, advanced robotics technologies—such as AI-driven automation systems and collaborative robots, or cobots—are transforming the manufacturing sector. The dominance of manufacturing in the worldwide robotics market is fuelled by the integration of robotics into manufacturing facilities, which helps businesses remain competitive in today’s dynamic market scenario.
Rising Interest in Service Robotics is Driving Demand for Robotics in Asia Pacific
Due to the strong demand for industrial and service robots in the region, Asia Pacific now leads the global robotics industry. China, Japan, and South Korea are among the nations that have made significant investments in the robotics sector recently. The Middle East and Africa are anticipated to register the fastest-growing rate for the global robotics market. The expansion is ascribed to the region’s growing adoption of automation technology, especially in the manufacturing and logistics industries.
Request Free Customization of this report:
https://www.skyquestt.com/speak-with-analyst/robotics-market
Drivers:
Increasing Demand for AutomationAdvancements in AI and Machine Learning TechnologiesRestraints:
High Initial InvestmentsLack of Skilled WorkforceProminent Players in Global Robotics Market:
FANUC America Corporation (US)Epson Robotics (Japan)Staubli International AG (Switzerland)YRG Inc. (US)Comau S.p.A. (Italy)Northrop Grumman Corporation (US)Honda Motor Co., Ltd. (Japan)Seiko Epson Corporation (Japan)Yamaha Motor Co., Ltd. (Japan)Adept Technology, Inc. (US)View report summary and Table of Contents (TOC):
https://www.skyquestt.com/report/robotics-market
Key Questions Answered in Global Robotics Market Report
How big is the global robotics market, and what compound annual growth rate (CAGR) is it anticipated to deliver between 2024 and 2031?Which industries are fuelling the need for automation and fostering the expansion of the robotics sector?What impact have recent technological advancements and innovations had on the direction of the robotics market?Which well-known companies in the robotics industry are also major players in the global robotics market?This report provides the following insights:
Analysis of key drivers (increasing demand for automation across industries, improved the overall efficiency, productivity of the processes, demand for automation), restraints (high initial investments, difficult for small and medium-sized enterprises to invest, robots, sensors, and other equipment required not delivered), opportunities (advancements in AI and machine learning technologies, new opportunities for the robotics market, perform complex tasks with high accuracy), and challenges (lack of skilled workforce, maintenance of these robotics systems) influencing the growth of robotics marketMarket Penetration: Comprehensive information on the product portfolios offered by the top players in the robotics marketProduct Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the robotics marketMarket Development: Comprehensive information on lucrative emerging regionsMarket Diversification: Exhaustive information about new products, growing geographies, and recent developments in the marketCompetitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.Related Reports:
Global Service Robotics Market
Global Soft Robotics Market
Global Warehouse Robotics Market
Global Cloud Robotics Market
Global Robotic Welding Market
About Us:
SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach across North America, Europe, ASEAN and Asia Pacific. 
Contact:Mr. Jagraj SinghSkyquest Technology1 Apache Way,Westford,Massachusetts 01886USA (+1) 351-333-4748Email: [email protected] Our Website: https://www.skyquestt.com/

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