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Contract Cleaning Services Market Projected to Grow at 6.56% CAGR, Crossing US$ 639.5 Billion by 2032; Market.us

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New York, April 26, 2023 (GLOBE NEWSWIRE) — The global Contract Cleaning Services Market in terms of revenue was estimated to be worth USD 344.2 Billion in 2022 and is poised to reach 639.5 Billion by 2032, growing at a CAGR of 6.56% from 2023-2032. Business organizations are charged by service providers mainly based on two criteria: the type of service used, and the frequency of the intended service, which can be daily, once per week, every two years, every month, or annually. However, the frequency and cost of using building cleaning services, vary depending on the amount of cleaning to be required. To ensure a green and healthy working environment for their employees, businesses are spending a lot in maintaining a good workplace.

Contract Cleaning Services market

To get additional highlights on major revenue-generating segments, Request a Contract Cleaning Services market sample report at https://market.us/report/contract-cleaning-services-market/request-sample/

Key Takeaway:

  • By Service Type, in 2022, the Contract Cleaning Services market was dominated by the Floor & carpet cleaning segment due to its increased usage.
  • By end-user, the commercial segment dominated the largest market share.
  • In 2022, North America dominated the market with the highest revenue share of 31.7%.

Factors affecting the growth of the Contract Cleaning Services Market?

There are several factors that can have an impact on the growth of Contract Cleaning Services. Some of these factors include:

  • Increase In Awareness: One of the major factors influencing the demand for contract cleaning services is an increase in awareness of the sustainability and well-being of the workplace. Cleaning services are now used by many businesses because they offer several advantages, such as comprehensive workplace cleaning and affordable costs. With the development of technology came changes in the contract cleaning sector, from the advent of simple cleaning tools to more smart tools and services. The innovation has contributed to the market’s expansion and importantly enhance cleansing effectiveness. Tools like steam cleansers, low-noise vacuum cleaners, high-grade cleaners, and providers have resulted in efficient and good quality services.
  • Green Cleaning Solution: A key market development for contract cleaning services that are fostering their expansion is the use of green cleaning solutions. Cleaning product ingredients that cause allergies and cancer is dangerous for both the ecosystem and workers. Recurrent exposure to these dangerous substances has also been related to cancer, decreased fertility, and symptoms like headaches, allergies, and rashes. As a result, green cleaning methods are spreading like wildfire because they promote sustainability and safeguard the environment.
  • Technological Advancements: The desire for cleaning services may be impacted by developments in cleaning technology, including the use of robotics and automation. More businesses might decide to engage in these solutions as technology advances and costs drop, potentially reducing the demand for human cleaners.

To understand how our report can bring a difference to your business strategy, Inquire about a brochure at https://market.us/report/contract-cleaning-services-market/#inquiry

Market Growth

The contract cleaning services market has been experiencing steady growth in recent years, and this trend is expected to continue in the coming years. One of the key drivers of growth in the contract cleaning services market is the increasing demand from the commercial and industrial sectors. The contract cleaning services market is expected to continue its growth trajectory due to increasing demand from various sectors, technological advancements, and the importance of sustainability and eco-friendliness.

Regional Analysis

In 2022, North America would hold a commanding 31.7% revenue share in the global contract cleaning services industry. A significant number of service providers, particularly in the US, define the region. To ensure a sanitary workplace for their employees, the bulk of commercial establishments also have contractual service arrangements with the service providers. Therefore, it is anticipated that the trend of outsourcing cleaning duties will persist, supporting regional market development throughout the predicted time.

Moreover the forecast period, it is expected that the Asia Pacific region will grow significantly. One of the primary reasons anticipated to contribute to the expansion of the regional market is the rising number of unfinished units, which necessitates routine clean-up for proper site management. 

For more insights on the market share of various regions – Download a Sample Report

Scope of the Report

Report Attribute Details
Market Value (2022) USD 344.2 Billion
Market Size (2032) USD 639.5 Billion
CAGR (from 2023 to 2032) 6.56%
North America Revenue Share 31.7%
Historic Period 2016 to 2022
Base Year 2022
Forecast Year 2023 to 2032

Market Drivers

  • Technological Innovations: There are technological advances in the contract cleaning industry, such as robotic cleaners that are more efficient than traditional methods of cleaning. This will continue to drive demand for contract cleaning services.
  • Increasing Demand: Due to increasing awareness of the health benefits that maintaining clean and healthy environments can bring, demand for contract cleaning services has grown significantly – particularly within the commercial, healthcare, and hospitality sectors.
  • Growing Urbanization: Urbanization is rapidly increasing the number of residential and commercial buildings, which will continue to drive demand for contract cleaning services over the coming years.

Market Restraints

  • Labor Costs: In cleaning businesses, labor represents one of the biggest expenses, and increasing wages and benefits may reduce profit margins. Additionally, it may be challenging to locate qualified workers due to a labor shortage, which will raise the cost of hiring and training.
  • Price Sensitivity: When it comes to contract cleaning services, customers are frequently price-conscious, which can make it difficult for service providers to keep their profit margins. Customers might decide to move to less expensive providers or bargain for lower prices, which could hurt contract cleaning companies’ bottom lines.
  • Competition: Contract cleaning services have a high level of competition, with both established players and new entrants competing for contracts. Smaller players may struggle if they lack the funds to invest in technology.

Market Opportunities

  • Growing demand: Due to the increasing outsourcing of cleaning needs by businesses and organizations, demand for contract cleaning services will continue to rise. This presents contract cleaners with an excellent opportunity to expand their services and reach more clients.
  • Technology: The contract cleaning industry is being transformed by technological advancements like robotics, automation, and artificial intelligence. Companies can adopt these innovations and integrate them into their operations for cleaner services – potentially increasing demand and market share at the same time.
  • Franchising: Franchising is a great option for contract cleaners as it promotes rapid expansion and brand recognition. A successful franchise model can help contract cleaning businesses expand rapidly and boost their market share.

Grow your profit margin with Market.us – Purchase This Premium Report at https://market.us/purchase-report/?report_id=40362

Report Segmentation of the Contract Cleaning Services Market

Service Type Insight

In the market for contract cleaning services, the segment that generated the most income is floor and carpet cleaning. Large floor areas in corporate buildings and industrial facilities make it labor- and time-intensive to clean the floors and carpets. As a result, this service is more expensive than others like couch cleaning and window washing. However, the price of these services varies based on several variables, including location, frequency, intricacy, and timing. Furthermore, floor cleaning is necessary for any business or industrial setting and is typically contracted out to qualified professionals.

End User Insight

The income share of the commercial sector is greatest in 2022. The commercial sector, which is primarily made up of workplace buildings, invests a lot in keeping things clean. The recovery of the construction and real estate sector after a brief slump during the first half of this decade and the resulting rise in the number of business buildings are the primary causes of the high share of this segment. Hospitals, schools, hotels, restaurants, and retail stores are just a few examples of other commercial facilities that prefer to contract out the required cleaning work so that management and staff can focus on their core business operations. As a result, it is anticipated that both during and after the pandemic, the commercial sector will offer enormous development opportunities for service providers.

Recent Development of the Contract Cleaning Services Market

March 2022: Office Pride Commercial Cleaning Services is a joint partnership between Trivest Partners and Three20 Capital Group. One of the business cleaning franchise systems in the US that have experienced the fastest growth, Office Pride, declared its development target to be 300 units and USD 300 million in system sales. The Office Pride franchise network spans 25 states and has more than 145 franchise sites. The network is expected to expand over the next five years as a result of acquisitions and the addition of new units.

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

Market Segmentation

Based on the Service Type

  • Window Cleaning
  • Floor & Carpet Cleaning
  • Upholstery Cleaning
  • Construction Cleaning
  • Other Services

Based on End-User

  • Residential
  • Industrial

Commercial

  • Healthcare & Medical Facilities
  • Educational Institutions
  • Hotels & Restaurants
  • Retail Outlets
  • Corporate Offices
  • Financial Institutions
  • Other End-Users

By Geography

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

Competitive Landscape

The ServiceMaster Co., LLC, ABM Industries Inc., Cleaning Services Group, Inc., Jani-King International Inc., Stanley Steemer International Inc., Mitie Group plc, ISS Facility Services, Inc., Vanguard Cleaning Systems Inc., Pritchard Industries Inc., and Sodexo Group are a few of the major competitors in the global contract cleaning services market. As part of their competitive strategy, these market leaders frequently introduce new product lines, broaden their business operations internationally, and take part in smart mergers and acquisitions.

  • ABM Industries Incorporated
  • Jani-King International Inc.
  • ISS Facility Services, Inc.
  • Sodexo Group
  • Mitie Group plc.
  • Pitchard Industries Inc.
  • Vanguard Cleaning Systems Inc.
  • Stanley Steemer International Inc.
  • Cleaning Services Group, Inc.
  • The ServiceMaster Company, LLC
  • Temko Service Industries, Inc.
  • Anago Cleaning Systems
  • Aramark Corporation
  • Atalian Global Services, Inc.
  • Atlas FM Services Ltd.
  • Bonus Building Care
  • ChemDry
  • Clean First Time
  • CleanNet USA, Inc.
  • Compass Group Plc.
  • Duraclean International Inc.
  • Extra Clean Inc.
  • Harvard Maintenance Inc.
  • ISS A/S
  • Jan-Pro Systems International
  • Other Key Players

Browse More Related Reports:

  • Medical Device Cleaning Market size is expected to be worth around USD 86.7 Bn by 2032 from USD 17.9 Bn in 2022, CAGR of 17.60%
  • Carpet Cleaning Product’s Market value was US$ 1,600 Mn. This market is forecast to grow at a CAGR, of 4.9% between 2022-2032.
  • Vacuum Cleaner Market was valued at USD 12.6 Bn in 2022 and is expected to reach around USD 31.3 Bn in 2032. Between 2023 and 2032, this market is estimated to register the highest CAGR of 9.8%.
  • Raised Access Floor Market size was worth around USD 1,611.30 Mn in 2023 and is estimated to grow to about USD 2,230.30 Mn by 2033, with a compound annual growth rate (CAGR) of approximately 6.11% over the forecast period
  • Floor Saw Market is USD 329.3 Mn in 2022 and is expected to record over 6.8% CAGR from 2022 to 2032.

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

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

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

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

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

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

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

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

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