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Smart Healthcare Market Set to Witness Unprecedented Growth of USD 541 Billion by 2032 – Market.us Report
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New York, May 01, 2023 (GLOBE NEWSWIRE) — The global smart healthcare market will experience significant growth in the coming years, with its market size expected to exceed USD 541 billion by 2032. This projection reflects a remarkable increase from its current value of USD 184 billion in 2022. Additionally, the industry is anticipated to maintain a compound annual growth rate (CAGR) of 15.7% between 2023 and 2032.
Due to COVID-19’s arrival, smart healthcare products saw an unexpected spike in demand. Adoption of these technologies has increased during this pandemic situation and is projected to grow even more post-COVID-19. Many businesses are expanding their products and services; for instance, Vera Smart Health invested around USD 20 billion into home testing/diagnosis, remote health services, medication delivery services, virtual care services, and nutrition consultation services – creating substantial demand for these smart healthcare items due to the emergency created by COVID-19.
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Key Takeaway:
- By product, in 2022, the m-Health segment dominated the market with a 34% market share.
- By application, storage and inventory management segment dominated the market with 29% market share.
- By end-user, the hospital segment dominates the market with 38% market share.
- In 2022, North America dominated the market with the highest revenue share of 36%.
- APAC is expected to grow at a greater pace owing to affordable prices, increasing medical tourism, as well as hospitals and clinics, among other factors.
Factors affecting the growth of the smart healthcare industry
- Technological Advancements: The advancements in technologies such as artificial intelligence (AI), the Internet of Things (IoT), and big data analytics have revolutionized healthcare. These tools allow for the creation of smart healthcare solutions that can improve patient outcomes, reduce costs, and elevate the overall quality of care.
- Rise in Demand for Personalized Healthcare: Patients are increasingly seeking personalized healthcare solutions tailored to their individual needs. Smart health solutions, such as wearable devices, mobile health apps, and remote monitoring tools can offer patients customized care and help them manage their health more effectively.
- Aging Population: An aging population is driving demand for healthcare services and necessitating more efficient and cost-effective solutions. Smart healthcare technologies can address issues associated with an aging population, such as chronic disease management and long-term care requirements.
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Market Growth
Factors such as the rising prevalence of chronic diseases, demand for telemedicine and remote patient monitoring solutions, and increased adoption of advanced technologies like AI and IoT in healthcare are all driving the growth of this market. The COVID-19 pandemic has hastened the adoption of smart healthcare solutions, as healthcare providers strive to minimize in-person interactions and prioritize remote care. As a result, demand for telemedicine, remote patient monitoring, and digital health solutions has skyrocketed – expected to fuel growth in this space over the coming years.
Regional Analysis
North America is currently the leading market for smart healthcare due to well-established healthcare infrastructure, supportive government initiatives, and widespread adoption of advanced technologies. However, Asia-Pacific is expected to experience the highest growth rate during this forecast period due to expanding demand for healthcare services, increased government investments in technology-related initiatives, and an expansive patient pool. Overall, the smart healthcare market is expected to experience rapid growth over the coming years due to technological advancements, shifting patient expectations, and a need for more efficient and cost-effective healthcare solutions.
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Scope of the Report
| Report Attribute | Details |
| Market Value (2022) | USD 184 billion |
| Market Size (2032) | USD 541 billion |
| CAGR (from 2023 to 2032) | 15.7% |
| North America Revenue Share | 36.0% |
| Historic Period | 2016 to 2022 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2032 |
Market Drivers
- Technology Advancements: Thanks to advancements such as the IoT, AI, and big data analytics, healthcare providers can now collect and analyze vast amounts of patient data. This has allowed for the creation of smart healthcare solutions that are more efficient, accurate, and effective.
- Increased Demand for Personalized Healthcare: Patients are increasingly seeking personalized healthcare solutions tailored to their individual needs. Smart technologies such as wearable devices, mobile health apps, and remote patient monitoring systems give healthcare providers the tools needed to deliver tailored care and improve patient outcomes.
- Healthcare Cost Increases: Healthcare costs are on the rise, prompting governments and providers to search for ways to cut expenses while improving patient outcomes. Smart healthcare solutions such as telemedicine and remote patient monitoring can reduce the need for in-person consultations or hospitalization, leading to cost savings both for patients and healthcare providers alike.
- Aging Population: As the population ages, so too do their healthcare needs. Smart solutions like remote patient monitoring, medication reminders, and fall detection systems can help healthcare providers better meet these demands.
Market Restraints
- High implementation costs: Smart healthcare technologies such as AI, IoT, and big data analytics require substantial investments in hardware, software, and infrastructure to become viable. Their high costs may prevent their widespread adoption – particularly in developing countries with limited resources.
- Data Privacy and Security Concerns: Smart healthcare technologies involve the collection, storage, and sharing of sensitive patient data which raises concerns about data privacy and security. Healthcare providers must guarantee that patient records remain protected from cyber threats and unauthorized access – something which can be a daunting challenge.
- Limiting Healthcare IT Infrastructure: Many healthcare providers, particularly in developing countries, lack adequate IT infrastructure and resources to adopt smart healthcare technologies. This lack of capacity could impede the adoption of these solutions in remote or rural areas.
Market Opportunities
- Remote Patient Monitoring: Smart healthcare solutions enable healthcare providers to keep an eye on patients outside traditional clinical settings, potentially improving outcomes and cutting costs in the process.
- Predictive Analytics: Modern healthcare solutions use data analytics to anticipate and prevent health issues before they happen, allowing healthcare providers to offer proactive care rather than reactive treatment. This allows them to achieve optimal patient outcomes.
- Telemedicine: Telemedicine, which involves providing healthcare services remotely, presents significant potential for the smart healthcare market. Telemedicine can increase access to quality care for those living in remote or rural areas.
- Wearable Devices: Wearable devices such as smartwatches and fitness trackers can collect patient data to provide real-time monitoring to empower patients to better manage their healthcare, and healthcare providers to offer personalized care. However, some healthcare professionals and patients may be resistant to change or prefer traditional methods of healthcare which could impede the adoption of new technologies.
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Report Segmentation of the Smart Healthcare Market
Product Type Insight
Analysis of product types reveals that the m-Health segment leads the market with a 34% share. The growth in this market can be attributed to rising internet usage, smartphones, and the adoption of mHealth apps. Wearable devices like Apple’s Fitbit and MI are having an increasingly positive effect on it as well. In April 2020 Proxxi, a Canadian firm, released Halo – their first wearable device. RFID adoption is being driven by several trends, including supply chain management, automation, real-time intelligence, and asset tracking. RFID helps hospitals quickly and more efficiently detect issues in their workflow, while Real-Time Location Systems (RTLS) utilize RFID for tracking newborn babies as well. As a result, the market size for this segment is expected to expand over the forecast period. Telemedicine was the second fastest growing segment in the market for smart healthcare, as COVID-19 spreads worldwide.
Application Insight
The application analysis, storage, and inventory management segment leads the market with a share of 29%. Smart healthcare technologies can be employed for efficient management of medical supplies and inventory, including medication and equipment. For instance, RFID (Radio Frequency Identification) technology is one such example that hospitals can utilize to track and manage their medical supplies and equipment.
Smart healthcare technologies can be employed for monitoring patients’ health and well-being. This includes wearable devices, smart sensors, and remote monitoring systems that track vital signs, medication adherence, and other health-related data. Smart healthcare technologies can be employed to improve treatment outcomes, such as personalized medicine, drug delivery, and surgery. For instance, robotic surgery and telesurgery technologies are being developed to improve surgical outcomes while reducing complications. Smart healthcare technologies can also be applied for other purposes, such as health analytics, data management, and patient engagement. These tools assist healthcare providers in better comprehending patient needs, improving care quality, and improving the patient experience.
End User Insight
According to End-User analysis, the hospital segment dominates the market with a 38% share. Hospitals and clinics are the primary users of smart healthcare technologies such as electronic health records, remote patient monitoring, and telemedicine. These tools enable healthcare providers to provide better care while increasing operational efficiency. Patients are becoming more involved in their care through wearable devices, mobile health apps, and other technologies that allow individuals to monitor their condition, track medication adherence, and communicate with healthcare providers. Pharmaceutical and Biotechnology Companies: Pharmaceutical and biotechnology companies can leverage smart healthcare technologies for clinical trials, drug development, and patient engagement initiatives.
Recent Development of the Smart Healthcare Market
- Increased Adoption of AI and Machine Learning: AI and machine learning technologies are becoming more commonly utilized in healthcare to enhance patient outcomes and operational efficiency. For instance, AI-powered diagnostic tools are being created to assist doctors in diagnosing diseases more accurately and quickly.
- Expanding Use of Wearable and IoT Devices: Wearable devices and other IoT technologies are being employed to monitor patient health, collect data that can be used for improving patient outcomes, track medication adherence, and detect potential health issues before they become serious. These tools also have the potential to track medication adherence as well as monitor medication adherence.
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Market Segmentation
Based on Product Type
- Telemedicine
- Electronic Health Records
- m-Health
- Smart Pills and Syringes
- RFID Kanban Systems
- Smart RFID Cabinets
- Others
Based on Application
- Storage and Inventory Management
- Monitoring
- Treatment
- Others
Based on End-User
- Hospitals
- Home Care Settings
- Others
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
Smart healthcare is an emerging field that uses technology to improve healthcare delivery, patient outcomes, and operational efficiency. The key players in the smart healthcare market include:
- AirStrip Technologies Inc.
- Allscripts Healthcare Solutions
- Apple Inc.
- AT&T Inc.
- Brooks Automation
- Cerner Corporation
- Cisco Inc.
- GE Healthcare
- Given Imaging, Inc.
- Hurst Green Plastics Ltd.
- IBM Inc.
- Logi-Tag
- McKesson Corporation
- Olympus Corporation
- Pepperl+Fuchs
- Samsung Electronics Corporation
- Siemens Medical Solutions
- Solstice Medical LLC
- Stanley Innerspace
- Bollhoff Group
- Wurth Group
- Other companies
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Businessabc.net, part of Ztudium group partners with IEBF to offer GenerativeAI tools for SMEs, Adds Dilip Pungliya to Leadership
LONDON and NEW DELHI, April 24, 2024 /PRNewswire/ — Businessabc.net part of ztudium group partners with Indo-European Business Forum IEBF and signed an MOU to collaborate in building tech AI-powered tools and trade corridors and technological solutions for businesses in India, UK, and Europe.
Businessabc.net is a global business abc AI, digital certification search engine, and directory marketplace that offers a fresh approach to business insights, and analytics and makes it accessible to every company, and employee, empowering knowledge-sharing and strategic insights across every level for businesses worldwide. Businessabc offers a digital hub marketplace to empower SMEs and businesses of all types with B2B, B2C, and AI-powered tools, that give them access to strategies, and insights and connect them with chambers of commerce, trade corridors, digital supply chains, provenance tools, and multi-store e-commerce solutions. The Indo-European Business Forum – IEBF is an independent, impartial organisation promoting two-way flows of trade, and investment in India, the UK, and EU member countries.
Businessabc.net owned by ztudium announces this strategic partnership with the IEBF and announces Dilip Pungliya as a new partner and Board Member to lead these endeavours. In this role, Mr. Pungliya, a tech, business, and data scientist executive will bring his extensive expertise in business strategy and digital transformation to lead key initiatives within the organisation.
The growth of Generative AI among Small and Medium Enterprises (SMEs) worldwide has been steadily gaining momentum, and in India, the UK, and Europe a burgeoning tech ecosystem is growing awareness of the transformative potential of artificial intelligence.
IEBF and Businessabc.net join forces to expand the platform with new indexes powered by Generative AI to enhance efficiency, streamline operations, and give companies a competitive edge in the market. Factors such as the availability of cost-effective AI solutions, the skilled workforce, and a global need to push towards digitalisation have contributed to the adoption of Generative AI technologies. GenAI tools and tech solutions are critical to unlocking new value for businesses and becoming the most important tools for organisations of all sizes. AI revolution through platforms such as businessabc.net semantic and GenAI search, indexes, and chatbots, can solve business problems and offer leaders integrated solutions for their growth.
IEBF has been collaborating with Governments in India, UK, and Europe,. Their contribution includes events in the UK House of Lords, Indian governmental organisations, and research and education initiatives for businesses. Created by Mr. Vijay Goel and Mr. Sunil Kumar Gupta the founders, responsibles for the organisation said about this: “We are excited to work and enhance business solutions between IEBF and Businessabc.net, part of Ztudium group. All businesses need to be aware, educated, and prepared for this new AI and digital growth tools world. Data from India’s Ministry of Electronics and Information Technology (MeitY) reports that GenAI is expected to add USD 450–500 billion to India’s GDP by 2025 – 10% of the country’s USD 5 trillion GDP target. We expect to work together to empower businesses in India, the UK, and Europe joining forces with Businessabc.net to organise strategic trade corridors, events, and Indexes.”
Dinis Guarda, Founder of Ztudium / Businessabc.net, a business top thought leader, author, and Youtuber said about the partnership: “We are thrilled to work with IEBF to expand the businessabc.net solutions to India, UK, and Europe businesses and welcome Dilip Punglyia to support, lead this partnership and Ztudium group. Together we will offer cutting-edge simple tools that use genAI in business and finance. In the financial sector alone GenAI is expected to increase global gross domestic product (GDP) by 7%—nearly $7 trillion—and boost productivity growth by 1.5%, according to Goldman Sachs Research.”
Dilip Pungliya, a seasoned tech, digital, and business strategy leader with more than twenty five years of experience creating data-driven solutions will be at the forefront of this partnership. Mr. Dilip Pungliya said about this: “I’m thrilled to join businessabc.net and Ztudium leadership team and contribute to the growth of the partnership with the IEBF and its holistic company’s mission of driving innovation and digital transformation through cutting-edge technologies like AI, fintech, Web 3.0, Metaverse, and Blockchain. This partnership will allow us to create a digital ID, new AI data-driven generative tools, and scale growth for businesses in India, UK, and Europe, and Dilip’s wealth of experience and strategic vision will be invaluable as we continue to drive innovation and empower businesses with transformative technologies.”
About the Indo-European Business Forum
IEBF is an independent, impartial body actively promoting two-way flows of trade, and investment in India and EU member countries. Indo European Business Forum is an open forum comprising like-minded people who believe that “India can offer strong and sustained business opportunities for European Union countries”. IEBF is patronised by leading personalities from both India and the EU having excellence in the fields of business, finance, real estate, and art, to name a few. Our advisory board consists of people who are determined to create a progressive world.
About the Businessabc.net,
Founded in August 2011 by Dinis Guarda, who was joined by Sonesh Sira as board and partner some years after businessabc.net part of Ztudium group has been creating Digital Transformation, and AI tools and being recognised as one of the top global thought leaders organisations by organisations like Thinkers360.com. The company has been working and advising Fortune 500 companies and governments and offers technology products and platforms. Some of its offers are citiesabc.com, fashionsabc.com, sportsabc.org. It also manages a media division with intelligenthq.com, tradersdna.com, hedgethink.com, and services that integrate a wide range of 4IR, AI, 3D, web 3.0, and blockchain technologies solutions such as Metaverseabc. tech, MStores.shopping, iDNA.technology, and AI.DNA. The platform unveiled recently its Top 10,000 Public Companies Market Cap Index, which lists tech giants like Apple, Microsoft, Google, Alphabet, Nvidia, and Meta, and LVMH, IBM, and JPMorgan Chase & Co., from other industries at the top.
About Ztudium: The maker of 4IR, AI, Web 3.0, and Smart Cities technologies
Ztudium is a UK-based global maker of leading proprietary intellectual property and technologies that integrate Fourth Industrial Revolution (4IR) technologies. The company creates technology products, platforms, media, and services that integrate fintech, smart cities, Web 3.0, AI, Metaverse, and Blockchain. Ztudium collaborates with multiple governments, organisations, educational institutions, and business networks worldwide.
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South Korea Data Center Market to Witness Investment of $7.22 Billion by 2029 – Get Insights on 35 Existing Data Centers and 19 Upcoming Facilities across South Korea
CHICAGO, April 24, 2024 /PRNewswire/ — According to Arizton’s latest research report, the South Korea data center market is growing at a CAGR of 8.43% during 2023-2029.
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South Korea Data Center Market Report Scope
Report Attributes
Details
Market Size (Investment)
USD 7.22 Billion (2029)
Market Size (Area)
688 thousand sq. Feet (2029)
Market Size (Power Capacity)
143 MW (2029)
CAGR Investment (2023-2029)
8.43 %
Colocation Market Size (Revenue)
USD 1.42 Billion (2029)
Historic Year
2020-2022
Base Year
2023
Forecast Year
2024-2029
South Korea is becoming a resilient data center market, propelled by a strategy prioritizing cloud service, a conducive business climate, and a well-established regulatory framework. Moreover, South Korea is a prominent Southeast Asian market, with investment opportunities driven by Artificial Intelligence and Renewable Energy initiatives. Major investments from local and international data center providers position the country as a pivotal player in the Asia-Pacific (APAC) digital infrastructure landscape.
Recently, South Korea has seen the development of smart cities such as Seoul, Incheon, Busan, and Daejeon. These cities implemented various smart solutions, including the Integrated Public Transportation Fare System, Demand-Responsive Transportation (DRT), Smart Grid, Smart Waste Management System, and numerous others.
Investment Opportunities in South Korea
In October 2023, LGU+ announced the completion of their second facility, Pyeoungchon 2 Center, in South Korea.In September 2023, Kakao announced the completion of their data center facility in Ansan, Gyeonggi, South Korea.In September 2023, SK Ecoplant announced plans to develop a data center campus facility in Pohang, South Korea.In August 2023, the South Korean government announced plans to develop a 1GW data center campus in the Southwest of South Korea.In June 2023, Empyrion DC commenced constructing its first data center facility in the Gangnam area of Seoul, South Korea.Market Trends
The South Korean government has committed to overturning the earlier policy by the administration of phasing out nuclear energy—the previous approach aimed to reduce the number of operational nuclear plants to 17 by 2034.South Korea plans to reduce its dependence on coal-fired power generation to 19.7% by 2030 and further down to 14.4% by 2036. Additionally, the country aims to decrease its reliance on gas-fired generation to 22.9% by 2030 and 9.3% by 2036.KOEN, formerly Korea South-East Power (KOSEP), generates renewable power from photovoltaic – 36 MW, hydro – 18.6 MW, fuel cells – 51.9 MW, wind – 58.4 MW, and biomass – 325 MW.Korea Western Power owns and operates around 17 solar power plants with a total capacity of around 43 MW. The Taean Small Hydro Power plant generates 2.2 MW, and the Hwasun Wind Power plant produces around 16 MW. In addition, the company generates around 39 MW of power capacity through fuel cells, generating around 35 MW of power through biomass.Significant Growth in Cloud, Mission Critical, and High-Performance Infrastructure to Increase OCP and Arm-based Server Adoption Booming the Market Growth
The expansion of hyperscale data centers will likely increase the demand for arm-based servers and promote the procurement of high-performance infrastructure solutions and OCP infrastructure solutions. South Korea-based cloud service provider Douzone Bizon adopted Intel Xeon Scalable Processor solutions to decrease the total cost of ownership for managing blade servers.
Why Should You Buy This Research?
Market size is available regarding investment, area, power capacity, and South Korea colocation market revenue.An assessment of the data center investment in South Korea by colocation, hyperscale, and enterprise operators.Investments in the area (square feet) and power capacity (MW) across cities in the country.A detailed study of the existing South Korea data center market landscape, an in-depth market analysis, and insightful predictions about market size during the forecast period.Snapshot of existing and upcoming third-party data center facilities in South KoreaFacilities Covered (Existing): 35Facilities Identified (Upcoming): 19Coverage: 12+ CitiesExisting vs. Upcoming (Area)Existing vs. Upcoming (IT Load Capacity)Data Center Colocation Market in South KoreaColocation Market Revenue & Forecast (2023-2029)Wholesale vs. Retail Colocation Revenue (2023-2029)Retail Colocation PricingWholesale Colocation PricingThe South Korea data center market investments are classified into IT, power, cooling, and general construction services with sizing and forecast.A comprehensive analysis of the latest trends, growth rate, potential opportunities, growth restraints, and prospects for the industry.Business overview and product offerings of prominent IT infrastructure providers, construction contractors, support infrastructure providers, and investors operating in the industry.A transparent research methodology and the analysis of the demand and supply aspects of the industry.Buy this Research @ https://www.arizton.com/market-reports/south-korea-data-center-market-investment-analysis
Post-Purchase Benefit
1hr of free analyst discussion10% off on customization The Report Includes the Investment in the Following Areas:
IT InfrastructureServersStorage SystemsNetwork InfrastructureElectrical InfrastructureUPS SystemsGeneratorsTransfer Switches & SwitchgearsPDUsOther Electrical InfrastructureMechanical InfrastructureCooling SystemsRack CabinetsOther Mechanical InfrastructureCooling SystemsCRAC & CRAH UnitsChiller UnitsCooling Towers, Condensers & Dry CoolersEconomizers & Evaporative CoolersOther Cooling UnitsGeneral ConstructionCore & Shell DevelopmentInstallation & Commissioning ServicesEngineering & Building DesignFire Detection & Suppression SystemsPhysical SecurityData Center Infrastructure Management (DCIM)Tier StandardTier I & Tier IITier IIITier IVGeographySeoulOther CitiesVendor Landscape
IT Infrastructure Providers
Arista NetworksAtosCisco SystemsDell TechnologiesFujitsuHewlett Packard EnterpriseIBMInspurIntelLenovoNetAppData Center Construction Contractors & Sub-Contractors
BEHIVE ArchitectsDPR ConstructionGS E&CHanmiGlobalHyundai Engineering & ConstructionISGPOSCO ICTSAMOO Architects & EngineersSamsung C&TSupport Infrastructure Providers
ABBCaterpillarCumminsDelta ElectronicsEatonFuji ElectricLegrandMitsubishi ElectricPiller Power SystemsRittalRolls-RoyceSchneider ElectricSTULZVertivData Center Investors
ActisDigital RealtyDreammark1Digital EdgeEquinixHostway IDCKakao CorpKT CorpLG UplusLG CNSNaverNHN CorpSOLISIDCSK BroadbandNew Entrants
Empyrion DCESROneAsia NetworkPrinceton Digital GroupPure Data Centres GroupSC Zeus Data CentersST Telemedia Global Data CentresSTACK InfrastructureKey Questions Answered in the Report: How big is the South Korea data center market?How many existing and upcoming data center facilities exist in South Korea?How much MW of power capacity will be added across South Korea during 2024-2029?What factors are driving the South Korea data center market?What is the growth rate of the South Korea data center market?Who are the key investors in the South Korea data center market?
Get the Detailed TOC @ https://www.arizton.com/market-reports/south-korea-data-center-market-investment-analysis
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Arizton Advisory and Intelligence is an innovative and quality-driven firm that offers cutting-edge research solutions to clients worldwide. We excel in providing comprehensive market intelligence reports and advisory and consulting services.
We offer comprehensive market research reports on consumer goods & retail technology, automotive and mobility, smart tech, healthcare, life sciences, industrial machinery, chemicals, materials, I.T. and media, logistics, and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.
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REYKJAVIK, Iceland, April 24, 2024 /PRNewswire/ — Lucinity , a leader in generative AI for financial institutions, is thrilled to announce the appointment of Udi Nessimyan as its new President and Chief Revenue Officer. Udi brings to the role a wealth of experience from his time in AI development at some of the world’s most prestigious tech companies, including Sealed.ai, Oracle, and Amazon Web Services.
Gudmundur Kristjansson, Founder and CEO of Lucinity, expressed his enthusiasm about Udi’s appointment, stating, “Udi’s proven track record of driving growth and innovation aligns perfectly with our core mission at Lucinity. His strategic acumen and deep industry knowledge are invaluable as we continue to develop and deliver AI solutions that enhance the efficiency and effectiveness of our clients’ operations.”
Udi’s career highlights include co-founding and leading Sealed.ai as CEO, where he spearheaded the development of a cutting-edge conversational AI platform that redefined standards in business communication. At Basis Technology, he was instrumental in driving sales and operational strategies for their flagship products, including Rosette and various Cyber Forensics tools, achieving an annual recurring revenue growth rate exceeding 30%.
In his new role, Udi will focus on refining Lucinity’s approach to marketing, sales, and customer onboarding. His expertise will be crucial in ensuring that Lucinity’s innovative AI solutions are effectively communicated and reach the right audiences, thereby maximizing their impact and facilitating the adoption of the technology.
“Udi’s involvement is vital as we strive to make our AI tools more intuitive and impactful,” said Kristjansson. “His insights and leadership will enhance our ability to deliver these technologies efficiently and effectively, aligning them closely with customer needs and industry demands.”
Under Udi’s leadership, Lucinity is set to deepen its commitment to unleashing human efficiency with AI, expanding the reach and impact of its mission to create AI that makes people better at what they do.
Lucinity thanks its partners and stakeholders for their continued support and interest as it embarks on this exciting new chapter.
About Lucinity:
Lucinity is a leader in generative AI technologies for financial institutions, designed to accelerate workforce efficiency. Its platform features Luci, an AI copilot that enhances intelligence gathering, analysis, and decision-making, allowing institutions to streamline operations and reduce costs. As an open, configurable, no-code platform, Lucinity is a crucial tool for enhancing productivity and operational efficiency in the financial sector.
Media Contact
Celina PabloSenior Marketing [email protected] +354 792 4321
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