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Satellite Communication Global Market Report 2023: Increasing Investment in Low Earth Orbit Satellites, Robust Government Support & Growing Demand for Telecommunication Drives Growth

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Dublin, April 03, 2023 (GLOBE NEWSWIRE) — The “Satellite Communication Global Market Opportunities And Strategies To 2032” report has been added to ResearchAndMarkets.com’s offering.

The global satellite communication market reached a value of nearly $53,083.8 million in 2022, having grown at a compound annual growth rate (CAGR) of 6.5% since 2017. The market is expected to grow from $53,083.8 million in 2022 to $83,680.3 million in 2027 at a rate of 9.5%. The market is then expected to grow at a CAGR of 11.4% from 2027 and reach $143,872.3 million in 2032.

Growth in the historic period resulted from emerging markets growth, increasing investments in satellites and launch of advanced low earth orbit satellites. Factors that negatively affected growth in the historic period was political uncertainties and geopolitical tensions, shorter operational lifetime and space waste, volatile raw material prices and effect of COVID-19 on companies and global recession.

Going forward, increasing investment In low earth orbit satellites, robust government support, growing demand for telecommunication, growing investments in the space sector and increasing number of satellite launches will drive the growth. Factors that could hinder the growth of the satellite communication market in the future include shortage of skilled labor and stringent compliance and certification requirements.

The satellite communication market is segmented by component into transponder, transceiver, antenna, receiver and other components. The transceiver market was the largest segment of the satellite communication market segmented by component, accounting for 40.4% of the total in 2022. Going forward, the transceiver segment is expected to be the fastest growing segment in the satellite communication market segmented by component, at a CAGR of 9.9% during 2022-2027.

The satellite communication market is also segmented by technology into SATCOM automatic identification system, SATCOM VSAT, SATCOM on the-move (SOTM), SATCOM on the pause (SOTP) and SATCOM telemetry. The SATCOM on the-move (SOTM) market was the largest segment of the satellite communication market segmented by technology, accounting for 45.0% of the total in 2022. Going forward, the SATCOM on the-move (SOTM) segment is expected to be the fastest growing segment in the satellite communication market segmented by technology, at a CAGR of 9.8% during 2022-2027.

The satellite communication market is also segmented by application into asset tracking/monitoring, airtime, data backup and recovery, navigation and monitoring, broadcasting, drones’ connectivity, tele-medicine and other applications. The broadcasting market was the largest segment of the satellite communication market segmented by application, accounting for 24.0% of the total in 2022. Going forward, the broadcasting segment is expected to be the fastest growing segment in the satellite communication market segmented by application, at a CAGR of 10.0% during 2022-2027.

The satellite communication market is also segmented by vertical into government and military applications, civil satellite communications, commercial application and other verticals. The commercial application market was the largest segment of the satellite communication market segmented by vertical, accounting for 82.1% of the total in 2022. Going forward, the commercial application segment is expected to be the fastest growing segment in the satellite communication market segmented by vertical, at a CAGR of 9.7% during 2022-2027.

North America was the largest region in the satellite communication market, accounting for 31.3% of the total in 2022. It was followed by Asia Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the satellite communication market will be Asia Pacific and Middle East where growth will be at CAGRs of 11.2% and 10.1% respectively. These will be followed by North America and Africa where the markets are expected to grow at CAGRs of 9.3% and 9.2% respectively.

The global satellite communication market is highly fragmented, with a large number of small players. The top ten competitors in the market made up to 5.06% of the total market in 2021. The competition in the market is increasing as more governments and companies explore the potential of satellite communication for various applications. In addition to this, innovation through research and competitive pricing will help the satellite manufacturers to tap into this high potential market in the future. Thales Group was the largest competitor with 1.49% share of the market, followed by Honeywell International Inc with 1.15%, L3Harris Technologies, Inc. with 0.93%, Viasat, Inc. with 0.75%, Cobham Limited with 0.32%, Gilat Satellite Networks Ltd. with 0.16%, Baylin Technologies with 0.09%, Al Yah Satellite Communication Company PJSC (Yahsat) with 0.06%, KVH Industries, Inc. with 0.06% and Iridium Communications Inc. with 0.05%.

The top opportunities in the satellite communication market segmented by component will arise in the transceiver segment, which will gain $12,892.5 million of global annual sales by 2027. The top opportunities in the satellite communication market segmented by technology will arise in the SATCOM on the-move (SOTM) segment, which will gain $14,194.7 million of global annual sales by 2027. The top opportunities in the satellite communication market segmented by application will arise in the broadcasting segment, which will gain $7,832.4 million of global annual sales by 2027. The top opportunities in the satellite communication market segmented by vertical will arise in the commercial application segment, which will gain $25,504.6 million of global annual sales by 2027. The satellite communication market size will gain the most in the USA at $8,611.0 million.

Market-trend-based strategies for the satellite communication market includes product innovations, technological advancements, focus on investing in very high throughput satellites (VHTS), use of artificial intelligence in radio frequencies (RF) and focus on strategic partnerships and collaborations.

Player-adopted strategies in the satellite communication market includes strengthening business operations through the launch of new products and solutions, expanding operational capabilities and strengthening business operations through strategic acquisitions.

Reasons to Purchase

  • Gain a truly global perspective with the most comprehensive report available on this market covering 12 geographies.
  • Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
  • Create regional and country strategies on the basis of local data and analysis.
  • Identify growth segments for investment.
  • Outperform competitors using forecast data and the drivers and trends shaping the market.
  • Understand customers based on the latest market research findings.
  • Benchmark performance against key competitors.
  • Utilize the relationships between key data sets for superior strategizing.
  • Suitable for supporting your internal and external presentations with reliable high-quality data and analysis

The report covers the following chapters

  • Introduction and Market Characteristics

Brief introduction to the segmentations covered in the market, definitions and explanations about the satellite communication market.

  • Key Trends

Highlights the major trends shaping the global satellite communication market. This section also highlights likely future developments in the market.

  • Global Market Size and Growth

Global historic (2017-2022) and forecast (2022-2027), and (2027-2032) market values, and drivers and restraints that support and control the growth of the market in the historic and forecast periods.

  • Regional Analysis

Historic (2017-2022) and forecast (2022-2027), and (2027-2032) market values and growth and market share comparison by region.

  • Market Segmentation

Contains the market values (2017-2032) and analysis for each segment by component, by technology, by application and by vertical in the market.

  • Regional Market Size and Growth

Regional market size (2022), historic (2017-2022) and forecast (2022-2027), and (2027-2032) market values, and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.

  • Competitive Landscape

Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.

  • Key Mergers and Acquisitions

Information on recent mergers and acquisitions in the market covered in the report. This section gives key financial details of mergers and acquisitions, which have shaped the market in recent years.

  • Market Opportunities And Strategies

Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.

  • Conclusions And Recommendations

Includes recommendations for satellite communication providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.

This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.

Scope
Markets Covered:

1) By Component: Transponder; Transceiver; Antenna; Receiver; Other Components
2) By Technology: SATCOM Automatic Identification System; SATCOM VSAT; SATCOM On The-Move (SOTM); SATCOM On The Pause (SOTP); SATCOM Telemetry
3) By Application: Asset Tracking/Monitoring; Airtime; Data Backup And Recovery; Navigation And Monitoring; Broadcasting; Drones’ Connectivity; Tele-Medicine; Other Applications
4) By Vertical: Government And Military Applications; Civil Satellite Communications; Commercial Application; Other Verticals

Key Attributes:

Report Attribute Details
No. of Pages 319
Forecast Period 2021 – 2031
Estimated Market Value (USD) in 2021 $53083.8 Million
Forecasted Market Value (USD) by 2031 $143872.3 Million
Compound Annual Growth Rate 10.5%
Regions Covered Global

A selection of companies mentioned in this report includes

  • Thales Group
  • Honeywell International Inc
  • L3Harris Technologies, Inc.
  • Viasat, Inc.
  • Cobham Limited

For more information about this report visit https://www.researchandmarkets.com/r/160wbh

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

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Pearson augments nursing content with generative AI study tools to improve nursing education and address shortages

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HOBOKEN, N.J., May 17, 2024 /PRNewswire/ — Pearson (FTSE: PSON.L), the world’s leading learning company, today announced the integration of AI study tools into its Nursing: A Concept-Based Approach to Learning series, the only nursing concepts curriculum built from the ground up as a comprehensive, cohesive learning system.

Pearson’s AI study tools combine the power of generative AI technology with trusted Pearson content to provide scaffolded, guided help when students are stuck on homework problems, and personalized explanations, summaries, and practice problems for more efficient studying.
“Integrating AI study tools into our concept-based nursing series enhances the learning experience, giving nursing students and nurse educators the resources they need to efficiently study and master course concepts,” said Anne Fahlgren, GM of Pearson’s professional portfolio. “This technology will help more nursing candidates prepare for and enter the workforce, while also giving nurse educators the means to scale their teaching further, addressing major challenges in nursing education and society.”
The AI study tools beta will be available both in Pearson+ eTextbook and the accompanying MyLab Nursing course in time for Fall 2024. MyLab is an interactive teaching and learning platform, backed by content from Pearson authors. The platform, with integrated eTextbook, allows instructors to design their course, assign homework and assessments, and monitor student progress in real time.
The US is experiencing shortages of nurses and nurse educators. The National Academy of Medicine’s 2021 report on The Future of Nursing: 2020-2030 notes that, in order to provide sufficient care for an aging population over the next decade, a substantial increase in the nursing workforce will be needed that can practice “in community-based settings with diverse populations that face a variety of lived experiences.” The NAM’s report also references hundreds of nursing faculty position vacancies that have contributed to tens of thousands of qualified applicants being turned away from nursing school admission due to the inability to adequately meet student demand.
Concept-based nursing curriculum is designed to focus on key concepts emphasizing a holistic understanding of nursing principles that can be applied across different patient populations, healthcare settings, and situations. This approach strengthens clinical reasoning skills in the course of patient care. Incorporating generative AI tools into Pearson’s concept-based nursing content supports nurse educators in scaling their teaching and students’ ability to study more efficiently.
Dr. Michelle Aebersold, University of Michigan School of Nursing Clinical Professor and contributor to Nursing: A Concept-Based Approach to Learning, said “Technological advancements like generative AI are transforming the nursing profession. The ability to adapt in a rapidly changing environment is a critical healthcare skill, whether it’s in the course of patient care or in preparing our future nurses for the workforce. The ability of the AI study tools to provide a more user-centered, customized experience is a huge benefit for our students. I’m glad they will have access to Pearson’s AI tools that accommodate the variety of ways students learn and provide personalized support in the moment students need it most. This is the future of individualized learning.”
A Fall 2023 survey of students using Pearson’s AI study tools beta showed strong levels of engagement, with 75% of respondents saying the tools were helpful or very helpful to their studies.
The inclusion of generative AI study tools further solidifies Pearson’s dedication to providing the most comprehensive and effective learning and teaching resources for nursing students and nurse educators across the US. Pearson’s AI study tools are already available in more than 30 Pearson Mastering titles and are set to be integrated into more than 40 Pearson+ eTextbooks and MyLab and Mastering titles across math, science, business, and nursing for August of 2024.
Pearson is committed to investing in the responsible application of AI to advance product innovation and enhance the learning experience to educate, certify, and credential students and the workforce.
Pearson product experts are available to demo the AI study tools for members of the media. Please request demonstrations with the media contact below.
About Pearson
At Pearson, our purpose is simple: to add life to a lifetime of learning. We believe that every learning opportunity is a chance for a personal breakthrough. That’s why our c. 18,000 Pearson employees are committed to creating vibrant and enriching learning experiences designed for real-life impact. We are the world’s leading learning company, serving customers in nearly 200 countries with digital content, assessments, qualifications, and data. For us, learning isn’t just what we do. It’s who we are. Visit us at pearsonplc.com.
Media [email protected]
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Brainomix Achieves Breakthrough with FDA Clearance of e-Lung AI Software

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Established market leader in stroke AI imaging receives its first FDA clearance in the lung imaging space.With this expanded foundation of AI-driven healthcare solutions, the Oxford-based company remains committed to driving innovation and delivering impactful advancements in imaging biomarkers.OXFORD, England, and CHICAGO, May 17, 2024 /PRNewswire/ — Brainomix, a pioneer in artificial intelligence (AI) imaging solutions to enable precision medicine, is proud to announce the FDA clearance of its latest product, Brainomix 360 e-Lung. Brainomix’s entry into the lung imaging space follows a series of successful clearances and widespread clinical adoption of its Brainomix 360 Stroke platform in both the US and Europe.

The clearance of e-Lung marks a significant milestone in Brainomix’s journey to expand its footprint in medical imaging beyond stroke-related applications and represents a notable step forward in the quest for advanced lung imaging solutions. The company, with its rich academic heritage and record of scientific excellence, will expand its research collaborations in the pulmonology space to yield new insights to inform future iterations of e-Lung and chart a path towards continual improvements for the lung imaging technology.
Dr Deji Adegunsoye, Assistant Professor of Medicine and Scientific Director of the Interstitial Lung Disease Program at University of Chicago Medicine, said: “This is an exciting step for Brainomix, who have a demonstrated track record of developing novel AI-based solutions in stroke and are now applying that expertise to develop innovative tools in the lung space. The preliminary data for e-Lung is impressive and would indicate that we have a promising tool that could help to expedite healthcare delivery and improve clinically meaningful outcomes for patients with lung disease.”
Brainomix recently announced the publication of a new study1 in the prestigious peer-reviewed journal American Journal of Respiratory and Critical Care Medicine (AJRCCM), resulting from a research collaboration with AstraZeneca. The results showed that Brainomix’s proprietary lung imaging biomarkers, which include the weighted reticulovascular score (WRVS), stratified patients at risk of Idiopathic Pulmonary Fibrosis (IPF) progression, outperforming standard measures.
Dr Michalis Papadakis, CEO and Co-Founder of Brainomix, said: “We are harnessing our expertise in AI-powered imaging to develop novel biomarkers in other disease indications where AI can support imaging-based diagnostic and treatment decisions.
“This e-Lung FDA clearance reflects our focus on developing innovative solutions that empower healthcare professionals with cutting-edge tools for sophisticated disease evaluation, enhancing access to treatments that can ultimately work to improve patient outcomes.”
Brainomix will be presenting its latest e-Lung data at the American Thoracic Society (ATS) annual conference in San Diego May 17th – 22nd, including results from research collaborations with Heidelberg University and with Seattle-based Avalyn Pharma.
Am. J. Respir. Crit. Care Med.: 2024 Feb 16 – e-Lung CT Biomarker Stratifies Patients at Risk of IPF Progression in a 52-Week Clinical Trialhttps://www.atsjournals.org/doi/abs/10.1164/rccm.202312-2274LEAbout Brainomix
Brainomix specializes in the creation of AI-powered software solutions to enable precision medicine for better treatment decisions in stroke and lung fibrosis. With origins as a spin-out from the University of Oxford, Brainomix is an expanding commercial-stage company with offices in the UK, Ireland and the USA, and operations in more than 30 countries. A private company, backed by leading healthtech investors, Brainomix has innovated award-winning imaging biomarkers and software solutions that have been clinically adopted in hundreds of hospitals worldwide. Its first product, the Brainomix 360 stroke platform, provides clinicians with the most comprehensive stroke imaging solution, driving increased treatment rates and improving functional independence for patients.
To learn more about Brainomix and its technology visit www.brainomix.com, and follow us on Twitter, LinkedIn and Facebook.
Contacts
Jeff Wyrtzen, Chief Marketing & Business Development [email protected] +44 (0)7927 164210T +44 (0)1865 582730
Media enquiries
Charles ConsultantsSue [email protected] M +44 (0)7968 726585
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CUBE acquires global regulatory intelligence businesses from Thomson Reuters

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LONDON, May 17, 2024 /PRNewswire/ — CUBE, a global leader in Automated Regulatory Intelligence (ARI) and Regulatory Change Management (RCM), announces today its acquisition of the Thomson Reuters Regulatory Intelligence and Oden products and businesses.

The acquisition of these global businesses represents a major step forward in CUBE’s growth plans. It will deliver significant scale across many of the world’s leading and systemically important financial institutions. CUBE’s existing global customer base will be expanded to total approximately 1,000 customers in banking, insurance, asset and investment management, payments and adjacent regulated industries.
CUBE’s global employees will expand to 600, of which close to 250 are highly qualified regulatory subject matter experts, legal and compliance professionals.
Ben Richmond, founder and CEO of CUBE said: “Thomson Reuters is known to be the biggest and best in the industry for providing regulatory expert analysis and subject matter expertise, alongside world-leading journalism and news. The combination of CUBE’s purpose-built AI, with the years of content curated by Thomson Reuters Regulatory Intelligence and Oden expert analysts, will accelerate innovation. Together, we will deliver regulatory transformation capabilities for our global customers that could only have been imagined before.”
Richmond continues: “This combination will provide tremendous scale and depth across CUBE’s regulatory content and technology. It is a significant step toward creating an industry-defining regulatory compliance and risk platform that will benefit all customers and elevate the industry as a whole.”
Through this acquisition, CUBE will provide an expanded and comprehensive selection of specialized regulatory intelligence and regulatory change services, committed to excellence, quality, and highly contextualised and meaningful regulatory content for customers. By combining cutting-edge technology and subject matter expertise at scale CUBE will set a new bar for the industry in regulatory automation and content.
Chris Maguire, General Manager, Risk and Fraud, Corporates, Thomson Reuters said: “It was clear to us that CUBE had established itself as a leading regulatory intelligence provider for global enterprise clients in the financial services and insurance sectors. We wanted to ensure our customers and employees could work with an organisation that would continue to innovate and significantly invest in solutions like Thomson Reuters Regulatory Intelligence and Oden. We are working tirelessly to ensure a seamless and value-enhancing transition for customers and employees, and we are looking forward to working with the CUBE team during this transition.” 
Christopher Fielding, Hg, said: “We’re delighted to further extend our market reach, bringing in two high quality and complementary global businesses to the CUBE platform.”
Thomas Martin, Hg, added: “We see these acquisitions as enabling further innovation in the regulatory intelligence and change management sector, leading to strengthened demand for these quality solutions across the globe.”
The terms of the transaction will not be disclosed.
About CUBE
CUBE provides a highly comprehensive and robust source of classified, and meaningful AI-driven regulatory data to power its Automated Regulatory Intelligence (ARI) and Regulatory Change Management (RCM) solutions. CUBE’s purpose-built regulatory technology including its AI engine (RegBrain) and software platform (RegPlatform) tracks, analyses, and monitors laws, rules, and regulations in every country and in every published language to create an always up-to-date regulatory footprint that transforms visibility and compliance capability for customers across the globe.
With operations across Europe, North America, Canada, Asia, and Australia, CUBE serves a diverse and global base of customers and partners including the largest financial institutions in the world who leverage CUBE’s platform to streamline their complex regulatory intelligence and change management processes.
Following the strategic partnership with Hg in March 2024, CUBE announced the acquisition of US-based Reg-Room in May 2024.
About Hg
Hg supports the building of sector-leading enterprises that supply businesses with critical software applications or workflow services, delivering a more automated workplace for their customers.
This industry is characterised by digitisation trends that are in early stages of adoption and are set to transform the workplace for professionals over decades to come. Hg’s support combines deep end-market knowledge with world class operational resources, together providing compelling support to entrepreneurial leaders looking to scale their business – businesses that are well invested, enduring and serve their customers well.
With a vast European network and strong presence across North America, Hg’s 400 employees and around $70 billion in funds under management support a portfolio of around 50 businesses, worth over $140 billion aggregate enterprise value, with over 110,000 employees, consistently growing revenues at more than 20%.
About Regulatory Intelligence
Regulatory Intelligence is a proactive, connected, and comprehensive solution that tracks and analyses regulatory changes within ~2,000 regulatory bodies and rulebooks for more than 20 countries. It enables banking, financial services, and insurance (BFSI) sectors to manage exposure to operational, regulatory, and compliance risk.
About Oden
Oden State Rules and Regulations (SR&R), Oden Policy Terminator/Sentry PT, and OdenTrack provide repositories and automated solutions for complying with state rules and regulations on the provisioning of Personal and Business Insurance in the US.

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