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Construction Robot Market to Perceive Highest CAGR of 8.7% by 2030, Size, Share, Trends, Key Drivers, Growth Opportunities and Revenue Analysis

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CALGARY, April 19, 2023 (GLOBE NEWSWIRE) — A recent study report released by Data Bridge Market research titled “Construction Robot Market” guarantees you will remain better informed than your competition. To uncover general market conditions and tendencies, the Construction Robot market research report acts as a perfect source. This Construction Robot research report understands the current and future of the market in both developed and emerging markets. The Construction Robot report assists in realigning the business strategies by highlighting the business priorities. It throws light on the segment expected to dominate the industry and market.  It forecast the regions expected to witness the fastest growth. This Construction Robot report is a collection of pragmatic information, quantitative and qualitative estimation by industry experts, and the contribution from the industry across the value chain. Furthermore, the Construction Robot report also provides the qualitative results of diverse market factors on its geographies and Segments.

This Construction Robot tracks the major market events including product launches, development trends, mergers, acquisitions, and the innovative business strategies opted by key market players. The Construction Robot report also focuses on industry-specific drivers, restraints, opportunities and challenges in the market.  The global market is bifurcated into sub-segments, which can provide classified data regarding the latest trends in the market.

Data Bridge Market Research analyses that the global construction robot market is expected to reach the value of USD 731,510.00 thousand by 2030, at a CAGR of 8.7% during the forecast period. The construction robot market report also covers pricing analysis, patent analysis, and technological advancements in depth.    

Get a Sample PDF of the Construction Robot Market Report @ https://www.databridgemarketresearch.com/request-a-sample/?dbmr=global-construction-robot-market

Construction robots are automated machines designed to assist with various tasks on construction sites. These robots are equipped with sensors, cameras, and other advanced technologies that enable them to perform tasks such as bricklaying, concrete pouring, welding, and demolition. The global construction robot market refers to the market for robotic technology used in the construction industry. This market includes a wide range of robot types, including traditional industrial robots, exoskeleton robots, and mobile robots designed specifically for construction applications. The construction robot market has been growing rapidly in recent years, as advances in robotics technology have made it possible for robots to perform a wider range of tasks on construction sites. These tasks include tasks such as demolition, bricklaying, welding, painting, and material handling.

Major factors expected to boost the growth of the construction robot market in the forecast period are the rise in several industry applications, including aerospace, steel, power, chemical, and others. Furthermore, the increased resistance to load variations is the benefit of construction robot, which is further anticipated to propel the growth of the construction robot market.

Opportunities

  • Surging Demand and Usage in Automation at Construction Sites                                                        

In recent years, there has been a rising trend toward using robots on construction sites. Several factors, including technological advancements, growing labor costs, and a shortage of skilled labor in some areas can recognize this. Robots can be used for various tasks on construction sites, such as excavation, demolition, material handling, and 3D printing. They can work 24/7, without breaks, and can be programmed to perform tasks precisely and efficiently. This can lead to increased productivity, reduced labor costs, and improved safety on the job site. One major Instance of a construction robot is the autonomous robotic construction system (ARCS) which was developed by researchers at the Massachusetts Institute of Technology (MIT). ARCS is a self-contained system that can construct structures autonomously without the need for human intervention.  

Top Leading Key Players of the Construction Robot Market:

  • Husqvarna AB
  • Komatsu Ltd.
  • Fujita Corporation
  • Contour Crafting Corporation
  • CyBe Construction
  • KEWAZO BROKK GLOBAL
  • Built Robotics
  • ICON Technology, Inc.
  • Dusty Robotics
  • MUDBOTS 3D CONCRETE PRINTING, LLC
  • Advanced Construction Robotics, Inc.

Recent Development:

  • In March 2023, FBR Ltd announced the strategic agreement with UK-based M & G Investment Management company, under which they will manufacture three Hadrian X robots of the newest generation for the U.S. Using the primary Dynamic Stabilization Technology of the company, these robots are made to work outside (DST). Such development helps the company to gain international recognition.
  • In September 2022, Conjet and Doornbos Equipment BV entered into partnership with Doornbos Equipment BV, which acts as a distribution partner for Belgium, Luxembourg, and The Netherlands (BENELUX). Doornbos will take over the dealership from Overmat Industries. Such patnerships help the company to increase its footprint globally

Access the Complete PDF Research Report @ https://www.databridgemarketresearch.com/checkout/buy/enterprise/global-construction-robot-market

Core Objective of the Construction Robot Market:

Every firm in the Construction Robot Industry has objectives but this market research report focus on the crucial objectives, so you can analysis about competition, future market, new products, and informative data that can raise your sales volume exponentially.

  • Construction Robot Market Size and growth rate factors.
  • Important changes in the future Construction Robot Market.
  • Top worldwide competitors of the Market.
  • Scope and product outlook of Construction Robot Market.
  • Developing regions with potential growth in the future.
  • Tough Challenges and risk faced in Market.
  • Global Construction Robot top manufacturers profile and sales statistics.

Construction Robot Market Drivers

  • Increase in Urbanization Across the Globe

Construction robots are automated machines designed to assist with various tasks on construction sites. These robots are equipped with sensors, cameras, and other advanced technologies that enable them to perform bricklaying, concrete pouring, welding, and demolition tasks. Construction robots come in many different forms, from autonomous vehicles that transport materials around the site to aerial drones that can survey the progress of a project from above. They can also be used to perform dangerous or difficult tasks for humans, such as working at heights or in hazardous environments. Construction robots are becoming increasingly popular in the construction industry, as they can help increase productivity, improve safety, and reduce labor costs. Urbanization refers to the growth of urban areas as people migrate from rural areas to cities in search of better opportunities. This rapid urbanization is expected to boost the global construction robot market as the demand for efficient, cost-effective, and safe construction methods increases.

  • Added Productivity and Efficiency by Construction Robot

The construction robot has the potential to significantly reduce the time and costs involved in construction projects. Construction robots are designed to perform repetitive and time-consuming tasks faster and more accurately than human workers. They can work around the clock without getting tired or needing breaks. Construction robots are useful in a variety of construction tasks, including bricklaying, welding, painting, and demolition.

Fundamental Aim of Construction Robot Market Report

In the Construction Robot market, every company has goals, but this report focuses in on the most important ones, allowing you to gain insight into the competition, the future of the market, potential new products, and other useful information that can boost your sales significantly.

  • Major alterations to the Construction Robot Market in the near future.
  • Notable Market rivals around the world.
  • The Construction Robot Market’s Future Scope and Product Outlook
  • Future-promising emerging markets.
  • The Market Presents Difficult Challenges and Threats.
  • Sales data and profiles of the world’s leading Construction Robot manufacturers

Restraints/Challenges:

  • High Cost Associated with Construction Robots

Construction robots are generally more expensive than traditional construction equipment and require specialized training and maintenance. This can lead to higher initial costs for construction companies that want to adopt these technologies. Additionally, some construction companies may be hesitant to invest in new technologies due to concerns about the return on investment and the risks associated with implementing new processes and systems. One factor that could restrain the global construction robot market is the high cost associated with construction robots and the high initial investment required to adopt these technologies. The initial investment for implementing construction robots can be significant, and this can be a barrier for some companies, especially smaller ones. Additionally, the maintenance and repair costs for these robots can also be high, adding to the total cost of ownership.

To Gain More Insights about This Research Report, Visit @ https://www.databridgemarketresearch.com/reports/global-construction-robot-market

Construction Robot Market Segmentations:

Robot Type

  • Cartesian Robots
  • Automated Guided Vehicle
  • Exoskeleton

Payload Capacity

  • Less Than 500 Kg
  • 500-3000 Kg
  • 3001 Kg & Above

Axis Type

Automation

  • Fully Automated
  • Semi-Autonomous

Function

  • Demolition
  • Structural Process
  • Finsihing Processes
  • Fabrication & Assembly
  • 3d Printing
  • Quality Inspection

Vertical

  • Commercial & Residential Building
  • Energy & Utilities
  • Public Infrastructure

Construction Robot Market Country Level Analysis

The countries covered in the construction robot market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Italy, Spain, Russia, Turkey, Belgium, Netherlands, Switzerland and Rest of Europe in Europe, Japan, China, South Korea, India, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines and Rest of Asia Pacific in the Asia-Pacific (APAC), South Africa, Egypt, Saudi Arabia, U.A.E, Israel and Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America

North America dominates the construction robot market owing to the growing adoption of urbanization across North America. The U.S. is a dominating country as it is home to many giant market players in construction robot market. Germany dominates in Europe region due to increasing research and development activities, along with technological advancements. China dominates in the Asia-Pacific region due to rising adoption of automation in manufacturing and industrial robotics.

Table of Content

  1. Introduction
  2. Market Segmentation
  3. Executive Summary
  4. Premium Insights
  5. Market Overview
  6. Global Construction Robot Market, By Robot Type
  7. Global Construction Robot Market, By Payload Capacity
  8. Global Construction Robot Market, By Axis Type
  9. Global Construction Robot Market, By Automation
  10. Global Construction Robot Market, By Function
  11. Global Construction Robot Market, By Vertical
  12. Global Construction Robot Market, By Region
  13. Global Construction Robot Market, Company Landscape
  14. SWOT Analysis
  15. Company Profile
  16. Questionnaire
  17. Related Reports

To Browse the Full Table of Contents, Click here @ https://www.databridgemarketresearch.com/toc/?dbmr=global-construction-robot-market

Browse Related Reports:

  • Europe Construction Robot Market, By Robots Type (Articulated Robots, Exoskeleton, Cartesian Robot, Automated Guided Vehicle and Others), Payload Capacity (Less Than 500 Kg, 500-3000 Kg and 3001 Kg & Above), Axis Type (3 Axis, 4 Axis, 5 Axis and Others), Automation (Fully Autonomous and Semi-Autonomous), Function (Demolition, Structure Processes, Material Handling, Finishing & Assembling, 3D Printing, Quality Inspection, Layout and Others), Vertical (Commercial & Residential Infrastructure Public Infrastructure, Energy & Utility and Others), Product Type (On-Site Production Robot and Pre-Fab Construction Robot) – Industry Trends and Forecast to 2030: https://www.databridgemarketresearch.com/reports/europe-construction-robot-market
  • Asia-Pacific Construction Robot Market, By Robots Type (Articulated Robots, Exoskeleton, Cartesian Robot, Automated Guided Vehicle and Others), Payload Capacity (Less Than 500 Kg, 500-3000 Kg and 3001 Kg & Above), Axis Type (3 Axis, 4 Axis and 5 Axis), Automation (Fully Autonomous and Semi-Autonomous), Function ( Demolition, Structure Processes, Material Handling, Finishing & Assembling, 3D Printing, Quality Inspection, Layout and Others), Vertical (Commercial & Residential Infrastructure Public Infrastructure, Energy & Utility and Others), Product Type (On-Site Production Robot and Pre-Fab Construction Robot) – Industry Trends and Forecast to 2030: https://www.databridgemarketresearch.com/reports/asia-pacific-construction-robot-market
  • Middle East and Africa Construction Robot Market, By Robots Type (Articulated Robots, Exoskeleton, Cartesian Robot, Automated Guided Vehicle and Others), Payload Capacity (Less Than 500 Kg, 500-3000 Kg and 3001 Kg & Above), Axis Type (3 Axis, 4 Axis and 5 Axis), Automation (Fully Autonomous and Semi-Autonomous), Function ( Demolition, Structure Processes, Material Handling, Finishing & Assembling, 3D Printing, Quality Inspection, Layout and Others), Vertical (Commercial & Residential Infrastructure Public Infrastructure, Energy & Utility and Others), Product Type (On-Site Production Robot and Pre-Fab Construction Robot) – Industry Trends and Forecast to 2030: https://www.databridgemarketresearch.com/reports/middle-east-and-africa-construction-robot-market
  • North America Construction Robot Market, By Robots Type (Articulated Robots, Exoskeleton, Cartesian Robot, Automated Guided Vehicle and Others), Payload Capacity (Less Than 500 Kg, 500-3000 Kg and 3001 Kg & Above), Axis Type (3 Axis, 4 Axis and 5 Axis), Automation (Fully Autonomous and Semi-Autonomous), Function ( Demolition, Structure Processes, Material Handling, Finishing & Assembling, 3D Printing, Quality Inspection, Layout and Others), Vertical (Commercial & Residential Infrastructure Public Infrastructure, Energy & Utility and Others), Product Type (On-Site Production Robot and Pre-Fab Construction Robot) – Industry Trends and Forecast to 2030: https://www.databridgemarketresearch.com/reports/north-america-construction-robot-market
  • Industrial Robots Market, By Type (Traditional Industrial Robots, Collaborative Robots), Industry (Automotive, Electrical and Electronics, Plastics, Rubber, and Chemicals, Metals and Machinery, Food and Beverages, Precision Engineering and Optics, Pharmaceuticals and Cosmetics, Others), Technology (Motion Control and Drives Systems, Robotics Systems, Integrated Manufacturing Systems, Machine Vision Systems, Manufacturing Execution Systems, Programmable Logic Control System, Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) https://www.databridgemarketresearch.com/reports/global-industrial-robots-market
  • Material Handling Robotics Market, By Type (Transportation Handling Robots, Positioning, Unit Load Formation Robots, Articulated Robots, Cartesian Robots, SCARA Robots, Storage, Identification and Control Robots), Function (Assembly, Packaging, Transportation, Distribution, Storage and Waste Handling), Application (Pick and Place, Palletizing/De-Palletizing, Packing and packaging, Product/Part Transfer and Machine Tending), End User (Automotive, Chemical, Electrical and Electronics, Industrial Machinery, Food and Beverage and Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) https://www.databridgemarketresearch.com/reports/global-material-handling-robotics-market
  • Cloud Robotics Market, By Type (Peer Based, Proxy Based, Clone Based), Component (Software, Services), Service Model (IaaS, PaaS, SaaS), Connectivity Technology (Wi-Fi, Others), Connectivity (Wi-Fi, Bluetooth, 3G, 4G, 5G, RF, Infrared), Application (Industrial Robot, Service Robot), Deployment Model (Public, Private, Hybrid Cloud), End-User (Manufacturing, Military and Defense, Retail and E-commerce, Healthcare and Life Sciences, Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) https://www.databridgemarketresearch.com/reports/global-cloud-robotics-market
  • Smart Robots Market, By Component (Hardware and Software), Industrial Application (Automotive, Electronics, Food and Beverages and others), Service Application (Personal and Professional), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) https://www.databridgemarketresearch.com/reports/global-smart-robot-market
  • Artificial Intelligence Robots Market, By Robot Types (Services and Industrial), Offering (Hardware and Software), Technology (Machine Learning, Computer Vision, Context Awareness and Natural Language Processing), Vertical (Military and Defense, Law Enforcement, Personal Assistance and Caregiving, Public Relations, Education and Entertainment, Research and Space Exploration, Industrial, Agriculture, Healthcare Assistance, Stock Management and Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) https://www.databridgemarketresearch.com/reports/global-artificial-intelligence-robots-market
  • Robot Operating System Market, By Robot Type (Articulated Robots, SCARA Robots, Parallel Robots, Cartesian Robotics, and Collaborative Robots), Application (Pick and Place, Plastic Injection and Blow Molding, Printed Circuit Board Handling and Information Communication and Technology, Testing and Quality Inspection, Metal Sampling and Press Trending, Computer Numerical Control Machine Trending and Co-Packing and End of Line Packaging), Industry (Automotive, Electrical and Electronics, Metal and Machinery, Plastics, Rubber and Chemicals, Food and Beverages, Healthcare and Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of the Middle East and Africa) https://www.databridgemarketresearch.com/reports/global-robot-operating-system-market
  • Warehouse Robotics Market, By Product Type (Autonomous Mobile Robot (AMR), Articulated Robots, Cylindrical Robots, SCARA Robots, Collaborative Robots, Parallel Robots, Cartesian Robots and Others), By Payload Capacity (less than 20Kg, 20-100Kg, 100-300Kg and greater than 300Kg), By System Type (Knapp Open Shuttle, Locus Robotics System, Fetch Robotics Freight, Scallog System and Swisslog Carrypick), By Components (Programmable Logic Controller, Microprocessors & Microcontrollers, Actuators, Sensors and RF Module), By Software (Warehouse Management System, Warehouse Execution System, Warehouse Control System and Others), By Function (Pick & Place, Assembling & Dissembling, Transportation, Sorting & Packaging and Others), Industry (E-Commerce, Automotive, Electrical & Electronics, Metal and Machinery, Chemical, Rubber, And Plastics, Food and Beverage, Pharmaceutical and Others) https://www.databridgemarketresearch.com/reports/global-warehouse-robotics-market
  • Collaborative Robot Market, By Solution (Safety light Curtain, Safety Laser Scanner, Camera Based 3D Space Monitoring System, Safe Gripping), Component (Hardware, Software), Safety Method (Speed and Separation Monitoring, Power and Force Limiting, Safety-Rated Monitored Stop, Hand Guiding), Payload Capacity ( Up to 5kg, 5Kg to 10Kg, Above 10Kg), Application (Material Handling, Quality Inspection, Pick and Place/ Drop, Packaging and Pelletizing, Machine Tending, Molding Operations, Gluing and Welding, Test and Inspection, Assembly, Polishing, Lab Analysis, Entertainment, and Others), End-User (Electrical and Electronics, Furniture and Equipment, Automotive, Aerospace and Defence, Pharmaceuticals, Plastics and Polymers, Metals and Machining, Food and Beverages, Cosmetics, Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) https://www.databridgemarketresearch.com/reports/global-collaborative-robot-market
  • Telepresence Robot Market, By Component (Head, Body), Interface (Hardware, Software), Type (Stationary, Mobile), Application (Education, Healthcare, Enterprise, Homecare, Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) https://www.databridgemarketresearch.com/reports/global-telepresence-robot-market
  • Mobile Robots Market, By Application (Domestic, Entertainment, Education, and Personal, Military, Field, Medical, Public Relations and Inspection, Logistics, Human Exoskeleton, Construction and Demolition), Operating Environment (Aerial, Ground, Machine), Component (Hardware, Software), Type (Professional Robots, Personal, Domestic Robots), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) https://www.databridgemarketresearch.com/reports/global-mobile-robots-market

About Data Bridge Market Research

Data Bridge Market Research is a multinational management consulting firm with offices in India and Canada. As an innovative and neoteric market analysis and advisory company with unmatched durability level and advanced approaches. We are committed to uncover the best consumer prospects and to foster useful knowledge for your company to succeed in the market.

Data Bridge Market Research is a result of sheer wisdom and practice that was conceived and built-in Pune in the year 2015. The company came into existence from the healthcare department with far fewer employees intending to cover the whole market while providing the best class analysis. Later, the company widened its departments, as well as expands their reach by opening a new office in the Gurugram location in the year 2018, where a team of highly qualified personnel joins hands for the growth of the company. “Even in the tough times of COVID-19 where the Virus slowed down everything around the world, the dedicated Team of Data Bridge Market Research worked round the clock to provide quality and support to our client base, which also tells about the excellence in our sleeve.”

Data Bridge Market Research has over 500 analysts working in different industries. We have catered more than 40% of the fortune 500 companies globally and have a network of more than 5000+ clientele around the globe.

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Artificial Intelligence

SimSpace Welcomes Matt Knutsen as New Chief Revenue Officer to Spearhead Expansion Plan

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9 hours ago

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May 2, 2024

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SimSpace strengthens their leadership team, appointing Knutsen to drive revenue growth for the company as it expands further into the public sector 
BOSTON, May 2, 2024 /PRNewswire/ — SimSpace, the US-based industry leader in AI-Powered cyber ranges, announced today the appointment of Matt Knutsen as its new Chief Revenue Officer (CRO). Matt will champion SimSpace’s global sales and revenue growth strategy. He will drive expansion initiatives and foster strategic partnerships to stress test businesses’ and state agencies’ people, processes and technologies against the most advanced adversaries.

With more than 20 years of experience in the field, Matt most recently held the position of CRO at cyber training provider Immersive Labs, where he increased revenue growth by over 4000% and attracted over $180M in investment. He also launched the company into new markets, expanding the team across Australia, Europe, the Middle East, New Zealand and the US. The combination of Matt’s wealth of experience and his in-depth industry knowledge make him well-equipped to lead SimSpace’s next phase of growth.
As nation-state attacks rise in frequency, and AI drives a new wave of severe cyberattacks, companies also have to navigate uncertain economic conditions. SimSpace empowers organizations to cut unnecessary spending through stack optimization, allowing CISOs to maximize their ROI and effectiveness of their technology stack. Knutsen’s influence in the field will propel the SimSpace Platform to new heights, advancing access for companies and governments that need to optimize their cybersecurity defenses and safeguard their critical infrastructure from an increasingly volatile threat landscape.
Matt Knutsen is the most recent addition to SimSpace’s Executive Leadership Team, following Clint Sand’s appointment as Chief Product Officer in February 2024. His appointment underscores SimSpace’s continued growth trajectory, headed by the $45M they secured in funding from L2 Point Management, bringing the total capital raised over the past year to $70M. The company has also bolstered their presence in the public sector, marked by their recent partnership with Carahsoft and their multi-year contract with Florida to enhance the state’s cybersecurity preparedness. SimSpace’s high fidelity cyber ranges and simulations will enable state agencies and programs like Cyber Florida to rehearse and respond to cyberattacks.  
Commenting on Matt’s arrival, SimSpace CEO William Hutchison said, “Matt is a seasoned executive, who has accumulated years of knowledge on cybersecurity best practices and established himself as a leading authority in cyber range exercises. His industry influence, strategic vision and conviction in the importance of cybersecurity preparedness will shape the future success of the company at this crucial time of expansion. With Matt leading our revenue organization, we have full confidence in our capacity to deepen our valued partnerships and build strong, new connections which will further elevate SimSpace’s position as a trusted cybersecurity partner.”
Matt Knutsen, Chief Revenue Officer commented, “I’m looking forward to bringing a proactive approach to cybersecurity risk management to even more private and public sector organizations. I’ve already been impressed by SimSpace’s high-fidelity cyber range simulations, both on and off premise. It’s a great time to be joining the company and I’m excited to build upon SimSpace’s recent rapid growth with even more partnerships.”
About SimSpace
SimSpace is the global leader in AI-Powered cyber ranges, founded by experts from U.S. Cyber Command and MIT’s Lincoln Laboratory to respond to a new era of unprecedented cyber threats. Having raised nearly $70 million in funding over the past year, the company’s Platform enables the most sophisticated enterprises, governments, and critical national infrastructure organizations to find intelligence-driven answers to the most vexing security, governance, training, and cyber readiness questions. SimSpace provides high-fidelity cybersecurity simulations, training, and safe live-fire exercises to Fortune 2000 financial, retail, insurance, and other commercial markets. SimSpace’s Platform results in an average reduction in cyber operational costs of 30% and a 40% reduction in breaches. 
For more information, please visit: www.SimSpace.com.

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Enterprise AI Market to Be Worth $171.2 Billion by 2031–Exclusive Report by Meticulous Research®

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May 2, 2024

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REDDING, Calif., May 2, 2024 /PRNewswire/ — According to a new market research report titled, ‘Enterprise AI Market by Offering (Solutions, Services), Deployment Mode, Organization Size, Technology (ML, NLP), End-use Industry (IT & Telecom, Healthcare, Retail & E-commerce, Media & Advertisement) and Geography—Global Forecast to 2031,’ the global enterprise AI market is projected to reach $171.2 billion by 2031, at a CAGR of 32.9% from 2024 to 2031.

Download Free Sample Report: https://www.meticulousresearch.com/download-sample-report/cp_id=5806
Enterprise artificial intelligence (AI) is the integration of advanced AI-enabled technologies and techniques within large organizations to enhance business functions. Enterprise AI encompasses routine tasks of an organization such as data collection and analysis, supply chain management, finance, marketing, customer service, human resources and cybersecurity, and risk management. Enterprise AI is an integration of AI-enabled technologies such as machine learning, natural language processing, image processing, and speech recognition. Enterprise AI is used in various industries such as media & advertising, healthcare, retail & e-commerce, BFSI, government, automotive, and IT & telecom.
The growth of the enterprise AI market is driven by enterprises’ increasing need to enhance customer satisfaction and the growing implementation of enterprise AI solutions in the IT & telecom sectors. However, the high costs of enterprise AI solutions restrain the growth of this market. Furthermore, the increasing need for conversational AI solutions for optimized sales & marketing management and the growing need to automate business processes are expected to generate growth opportunities for the players operating in this market. However, data privacy & security concerns are a major challenge impacting market growth. Additionally, the growing adoption of AI chatbots for customer interaction and the increasing integration of Machine Learning (ML) technology into enterprise AI solutions are prominent trends in this market.
The global enterprise AI market is segmented by offering (solutions and services [professional services and managed services]), deployment mode (cloud-based deployment and on-premise deployment), organization size (large enterprises and small & medium-sized enterprises), technology (machine learning, image processing, natural language processing, and speech recognition), end-use industry (media & advertising, healthcare, retail & e-commerce, BFSI, government, automotive, IT & telecom, and other end-use industries), and geography. The study also evaluates industry competitors and analyses the market at the country and regional levels.
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Based on offering, in 2024, the solutions segment is expected to account for the larger share of 63% of the enterprise AI market. The segment’s large market share is attributed to the growing adoption of enterprise AI solutions to solve specific business challenges or streamline business processes and the growing implementation of these solutions to automate tasks, analyze data, and provide insights.
However, the services segment is expected to register a higher CAGR during the forecast period. The growth of this segment is driven by the growing need for AI consulting, data analysis, and enterprise-grade AI solution development, maintenance, and support and the rising adoption of services to automate tasks and help improve business operations efficiently.
Based on deployment mode, in 2024, the on-premise deployment segment is expected to account for the largest share of the enterprise AI market, with a revenue contribution of around USD 13 billion. The segment’s large market share is attributed to the increasing on-premise deployment of enterprise AI solutions by large enterprises and the growing demand for service flexibility, enhanced customer experience, and efficiency in managing risks and compliance.
However, the cloud-based deployment segment is expected to register a higher CAGR during the forecast period. The growth of this segment is driven by benefits associated with cloud-based deployment, including easy maintenance of customer data, cost-effectiveness, and scalability, and the increasing demand for enterprise AI solutions that support multi-cloud deployments.
Based on organization size, in 2024, the large enterprises segment is expected to account for the larger share of the enterprise AI market. The segment’s large market share is attributed to the growing emphasis on developing strategic IT initiatives among large enterprises, the increasing need to manage large volumes of customer-level data, and the early adoption of advanced technologies across various sectors such as retail, manufacturing, healthcare, and automotive.
However, the small & medium-sized enterprises segment is expected to register a higher CAGR during the forecast period. The growth of this segment is driven by the increasing need for chatbots and digital assistants among small & medium-sized enterprises and the increasing need to improve performance, quality management, and customer satisfaction in call centers.
Based on technology, in 2024, the machine learning segment is expected to account for the largest share of the enterprise AI market. The segment’s large market share is attributed to the growing adoption of enterprise AI solutions with machine learning capabilities to analyze historical data and identify patterns and the increasing use of these solutions in e-commerce, streaming platforms, and content websites.
However, the natural language processing segment is expected to register the highest CAGR of 37.4% during the forecast period. The growth of this segment is driven by the growing need to understand, interpret, and generate human language data and the rising adoption of NLP to analyze user preferences, behaviors, and interactions to deliver personalized content.
Based on end-use industry, in 2024, the IT & telecom segment is expected to account for the largest share of 26% of the enterprise AI market. The segment’s large market share is attributed to the increasing demand for personalized customer experiences enabled by AI technologies, the rising adoption of AI for analyzing data from network sensors to optimize operations, and the growing utilization of AI to enhance network performance and deliver customized services. Also, this segment is expected to register the highest CAGR during the forecast period.
Based on geography, in 2024, North America is expected to dominate the global enterprise AI market.  North America enterprise AI market is estimated to be worth USD 9 billion in 2024. North America’s significant market share can be attributed to the growing adoption of enterprise AI solutions in the retail, healthcare, and finance sectors, the rising implementation of AI to enhance customer engagement, inventory management, and personalized shopping experience, and the increasing use of chatbots on websites, social media platforms, and messaging apps to respond customer inquiries.
However, Asia-Pacific is expected to register the highest CAGR of 34.3% during the forecast period. The growth of this regional market is driven by the growing emphasis by companies to launch chatbots and virtual assistants in the Asia-Pacific region, growing demand for chatbots and voice assistant solutions, and increasing demand for AI-powered customer support services.
Brows in Depth Report: https://www.meticulousresearch.com/product/enterprise-ai-market-5806
The key players operating in the enterprise AI market are NVIDIA Corporation (U.S.), Google LLC (A subsidiary of Alphabet Inc.) (U.S.), Amazon Web Services, Inc. (A Subsidiary of Amazon.com, Inc.) (U.S.), International Business Machines Corporation (U.S.), Microsoft Corporation (U.S.), Verint Systems Inc. (U.S.), SAP SE (Germany), Pegasystems Inc. (U.S.), Wipro Limited (India), Intel Corporation (U.S.), Oracle Corporation (U.S.), Hewlett Packard Enterprise (U.S.), MicroStrategy Incorporated (U.S.), Amelia US LLC (U.S.), Sentient.io (Singapore).
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Scope of the Report:
Global Enterprise AI Market Assessment—by Offering
SolutionsServicesProfessional ServicesManaged ServicesGlobal Enterprise AI Market Assessment—by Deployment Mode
On-premise DeploymentCloud-based DeploymentGlobal Enterprise AI Market Assessment—by Organization Size
Large EnterprisesSmall & Medium-sized EnterprisesGlobal Enterprise AI Market Assessment—by Technology
Machine LearningNatural Language ProcessingImage ProcessingSpeech RecognitionGlobal Enterprise AI Market Assessment—by End-use Industry
IT & TelecomNetwork OptimizationCustomer Service Automation and Virtual AssistantsHuman Resource ManagementCustomer AnalyticsCybersecurityOther IT & Telecom Applications BFSISecurity and Risk ManagementStreamlining Regulatory ComplianceCustomer Relationship ManagementReal-Time Transaction MonitoringData Analytics & PredictionOther BFSI Applications HealthcareHospital Workflow ManagementLifestyle ManagementPatient Data & Risk AnalyticsMedical Imaging & DiagnosisPrecision MedicineRemote Patient MonitoringRobot-assisted SurgeryDrug Discovery Retail & E-commerceSearch and RecommendationsCustomer Relationship ManagementInventory ManagementSupply Chain OptimizationIn-store Visual Monitoring & SurveillancePredictive AnalyticsDemand ForecastingChatbots Media & AdvertisementChatbots and Virtual AssistantsPredictive AnalyticsSales & Marketing AutomationAdvertising RecommendationContent GenerationTalent IdentificationProduction Planning & Management AutomotiveAdvanced Driver Assistance SystemsHuman-Machine InterfaceVehicle PersonalizationDesigning and Production ManagementSupply Chain ManagementOther Automotive Applications GovernmentFraud Detection and PreventionAdministrative ProcessesDisaster Management and ResponsePersonalized User SupportOther Government Applications Other End-use IndustriesGlobal Enterprise AI Market Assessment —by Geography
North AmericaU.S.CanadaEuropeGermanyU.K.FranceItalySpainRest of EuropeAsia-PacificChinaJapanIndiaSouth KoreaSingaporeRest of Asia-PacificLatin AmericaMiddle East & AfricaRelated Reports:
Conversational AI Market by Offering, Application, Organization Size, Deployment Mode, Sector (IT & Telecommunications, BFSI, Retail & E-commerce, Healthcare & Life Sciences, Travel & Hospitality, Education, Manufacturing) – Global Forecast to 2030
Speech and Voice Recognition Market by Function (Speech, Voice Recognition), Technology (AI and Non-AI), Deployment Mode (Cloud, On-premise), End User (Consumer Electronics, Automotive, BFSI, Other End Users), and Geography – Global Forecast to 2030
AI in Manufacturing Market by Component, Technology (ML, NLP, Computer Vision), Application (Predictive Maintenance & Machinery Inspection, Quality Management, Supply Chain Optimization), End-use Industry – Global Forecast to 2030
AI in E-commerce Market by Technology (ML, NLP, Computer Vision), Business Model, Deployment Mode, Product Offering (Beauty & Fashion, Pharmaceutical, Electronic), End User (B2B, B2C), and Geography – Global Forecast to 2031
Healthcare Artificial Intelligence Market by Offering (Software, Services), Technology (ML, NLP), Application (Hospital Workflow Management, Patient Management), End User (Hospitals & Diagnostic Centers), and Geography – Global Forecast to 2031
About Meticulous Research®
Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.
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Mr. Khushal BombeMeticulous Market Research Inc.1267 Willis St, Ste 200 Redding,California, 96001, U.S.USA: +1-646-781-8004Europe : +44-203-868-8738APAC: +91 744-7780008Email- [email protected] Visit Our Website: https://www.meticulousresearch.com/Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-researchContent Source: https://www.meticulousresearch.com/pressrelease/1041/enterprise-ai-market-2031
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Virtual Assistant Market Size to Grow USD 8613.5 Million by 2030 at a CAGR of 22.3% | Valuates Reports

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May 2, 2024

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virtual-assistant-market-size-to-grow-usd-86135-million-by-2030-at-a-cagr-of-22.3%-|-valuates-reports

BANGALORE, India, May 2, 2024 /PRNewswire/ — Virtual Assistant Market is Segmented by Type (Fax, Media), by Application (Retail & Ecommerce, BFSI, Automotive, Healthcare).

The Global Virtual Assistant Market was valued at USD 2054.5 Million in 2023 and is anticipated to reach USD 8613.5 Million by 2030, witnessing a CAGR of 22.3% during the forecast period 2024-2030.
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Major Factors Driving the Growth of Virtual Assistant Market:
Because of its advanced digital infrastructure and early acceptance of technology, North America is the leader in the virtual assistant business. With so many tech-savvy professionals in the US and Canada, virtual assistant jobs are becoming more and more appealing to them as flexible work options. This region’s virtual assistant platform industry is growing due in part to the presence of large technological corporations and startups. Furthermore, as companies look for affordable options for administrative help, the surge in remote work trends—particularly in the wake of the pandemic—has increased demand for virtual assistants.
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TRENDS INFLUENCING THE GROWTH OF THE GLOBAL VIRTUAL ASSISTANT MARKET
The growing requirement for efficient administrative support services is driving the virtual assistant market in the BFSI sector. Virtual assistants, who manage administrative tasks including data entry, document preparation, and email correspondence, are a wonderful asset to financial firms. Their remote access to planning resources from a home office makes it easier for clients to cooperate and boosts output. Additionally, virtual assistants with specialised knowledge in banking, finance, and regulatory compliance improve customer service and operational performance in the BFSI sector.
Because they offer administrative help to companies in the retail and e-commerce sectors, virtual assistants are essential to this industry. Virtual assistants let retailers focus on their main business activities by streamlining their operations and performing tasks like inventory management, product listing updates, and customer questions and orders processing. Their remote access to common calendars and other planning materials guarantees smooth client collaboration and improves responsiveness to client requests. Because virtual assistants provide flexible support services that can adjust to changing demand levels, they can help retail and e-commerce enterprises scale.
Virtual assistants are fostering growth in the automotive industry by offering administrative support services to companies in this field. Virtual assistants help auto firms with a range of duties, such as addressing client questions, making appointment arrangements, and organising logistics for car delivery and maintenance. The flexibility and efficiency of the automotive supply chain are increased by their remote access to planning documents and capacity to work from home offices. Furthermore, virtual assistants enhance client satisfaction by offering prompt help and support during the whole lifespan of a vehicle.
The market for virtual assistants is expanding in the healthcare industry as providers look to enhance patient care and streamline administrative procedures. Virtual assistants help healthcare businesses by taking care of patient queries, organizing appointments, and helping with medical paperwork duties. They may collaborate with healthcare professionals more easily and efficiently since they can work from home offices and access shared calendars and patient information. By promptly responding to questions and concerns about healthcare, virtual assistants can help to increase patient satisfaction.
The demand for cost-cutting and operational efficiency, the emergence of software-defined networking (SDN) technologies, and the growing complexity of network infrastructures are the main drivers of the market for network automation. In response to expanding digital transformation projects and the growth of cloud-based services and apps, organisations across a wide range of sectors are adopting automation to increase agility, streamline network administration operations, and boost security posture.
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VIRTUAL ASSISTANT MARKET SHARE ANALYSIS
Due to the region’s early technological adoption and strong digital infrastructure, North America now dominates the virtual assistant industry. There is a sizable pool of tech-savvy workers in the US and Canada who are increasingly looking for flexible work options in virtual assistant professions. The existence of established tech firms and new ventures focused on virtual assistant platforms contributes to the expansion of this industry in this area. In addition, as companies look for affordable options for administrative help, the need for virtual assistants has increased due to the rise in remote work patterns, particularly in the wake of the pandemic.
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Key Companies:
OracleNuance CommunicationsMicrosoftInbenta TechnologiesSamsung ElectronicsAppleIBMIntelGOOGLE INCAmazonPurchase Chapters: https://reports.valuates.com/market-reports/QYRE-Auto-21S6075/global-and-united-states-virtual-assistant/1 
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