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Global Video Commerce Market: Analysis By Product Category, By Region Size and Trends with Impact of COVID-19 and Forecast up to 2028

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New York, May 15, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Global Video Commerce Market: Analysis By Product Category, By Region Size and Trends with Impact of COVID-19 and Forecast up to 2028” – https://www.reportlinker.com/p06457200/?utm_source=GNW
It can be used across various channels, including social media, e-commerce platforms, and mobile apps.

The growth of the video commerce market is underpinned by young adults (Gen Z and younger cohorts), which generally favor new technologies, have more confidence in social platforms and online transactions, and use their smartphones to a far greater extent than older generations. On the other hand, video e-commerce is rapidly growing, with big e-commerce brands like Amazon, Pinduoduo, Alibaba, and JD.com taking advantage of this marketing strategy to dominate the e-commerce market. Video commerce has essentially become part of daily life in China, where more than two-third of consumers said that they bought products from a Video Commerce broadcast in 2022. The market is expected to grow at a CAGR of approx. 32% during the forecasted period of 2023-2028.

Market Segmentation Analysis:

By Product Category: The report provides the video commerce market analysis based on following product categories: Apparel, Personal & Beauty Care, Accessories, Home Products, Health, Food & Beverages, and Others. The apparel segment held the highest share in the market, whereas personal & beauty care is expected to be the fastest-growing segment in the forecasted period. Apparel is a highly visual product, and video commerce provides a way for customers to see how the product looks and fits a real person, which can be more informative and engaging than just seeing a photo. On the other hand, video commerce can be used to provide personalized recommendations for products based on a customer’s skin type, hair type, or other characteristics. This can help to create a more personalized shopping experience and increase customer loyalty. Thus, owing to these benefits, video commerce in the personal and beauty care segment is expected to grow significantly in the coming years.

By Region: The report provides insight into the video commerce market based on the regions, namely, Asia Pacific, North America, Europe, and the Rest of the World. Asia Pacifc held the highest share of the market. In China, live commerce has transformed the retail industry and established itself as a major sales channel in less than five years. China’s video commerce leadership is also manifested in much higher e-commerce penetration rates. Many of the major e-commerce platforms in China, such as Alibaba’s Taobao and JD.com, have integrated video commerce into their platforms. The video commerce market has also been flourishing in India as the number of video commerce consumers are increasing in India over the years. For instance, WATConsult reported 146 million video commerce users in 2020 in India, a number expected to grow to 216 million by the end of 2022.

In North America, the video commerce market is still in its infancy. But in the coming years, the market is expected to grow significantly. In the US, the penetration rate of video commerce is increasing in the past few years owing to the rise of smartphones, improved technology (e.g., logistics and supply chain management), convenience, and better and more convenient payment options. It can also be seen that the maturity level of the US video commerce is currently equivalent to where China was back in 2018. This means that the US market is lagging the Chinese market by at least five to six years. It is expected that the US and other Western markets are bound to follow the Chinese adoption curve of video commerce considering Gen Z smartphone usage and video consumption trends, to give some examples.

In Europe, the popularity of video commerce has increased in the past few years. For instance, according to an independent study conducted by Forrester in December 2020, which surveyed over 12,000 consumers in the UK, Spain, France, and Poland, 70% of consumers showed a keen interest in video commerce.

Market Dynamics:

Growth Drivers: The global video commerce market growth is predicted to be supported by numerous growth drivers such as increasing video commerce penetration in e-commerce, increased adoption of video commerce technology by the fashion industry, escalating social commerce market, an increasing number of internet users, surging gen Z and millennial population, advantages of video commerce over other forms of commerce, and many other factors. The penetration of video commerce in e-commerce is increasing gradually around the world. An increasing penetration rate means that a large number of e-commerce websites are using video content to promote their products and engage with customers. As more e-commerce retailers adopt video commerce, it can lead to increased demand for video production and distribution services, and create new opportunities for video commerce companies to expand their business.

Challenges: However, the market growth would be negatively impacted by various challenges such as lack of awareness, regulatory challenges, etc.

Trends: The market is projected to grow at a fast pace during the forecast period, due to various latest trends such as the growing integration of AR and VR in video commerce, an increase in mobile 5G subscriptions, escalating role of AI, rising trend of interactive videos, personalization, increasing trend of short-form videos, etc. AI-powered chatbots can help to provide customer service and support by answering questions and resolving issues in real-time. This can improve customer satisfaction and reduce the workload of customer service teams. Furthermore, AI can help businesses to analyze customer data and behavior to better understand their needs and preferences. This can inform product development and marketing strategies, leading to increased sales and customer loyalty.

Impact Analysis of COVID-19 and Way Forward:

The COVID-19 pandemic had a significant impact on the video commerce market. As physical stores were forced to close, businesses had to quickly adapt to selling their products online, and video commerce became an increasingly popular way to showcase products in a visually engaging way. The pandemic also accelerated the adoption of live-streaming video commerce, where consumers can interact with sellers in real time and ask questions about products. The post-COVID-19 impact on the video commerce market is likely to be shaped by continued growth, greater emphasis on sustainability and ethical practices, and the integration of emerging technologies such as AR and VR.

Competitive Landscape:

The global video commerce market is concentrated. Broadly, there are three categories of Video Commerce players: social media platforms, e-commerce platforms and dedicated technology providers. Platforms like Facebook, Instagram, TikTok and YouTube all support Video Commerce capabilities. The main advantage of broadcasting a show on a social media platform is that traffic is considerably higher than on a native brand.com site.

The key players in the global video commerce market are:

Alibaba Group (Taobao)
Shopify Inc.
Amazon.com, Inc. (Amazon Live)
Alphabet Inc. (Youtube)
Wayfair Inc.
Bambuser
Channelize.io
Firework
LiSA
BuyWith
ShopShops
LiveScale

Some of the strategies among key players in the market are new launch, mergers, acquisitions, and collaborations. TikTok has launched TikTok Shop in the US, which enables in-app purchases. TikTok did this in collaboration with TalkShopLive, which provides the underlying tech and supports the streams. TikTok Shop also announced a partnership recently with Bambuser in the US. On the other hand, as of August 2022, and March 2023, Meta would no longer continue with their live streaming services on Facebook and Instagram, respectively. These announcements come as part of Meta’s decision to focus on reels on the social media platforms. Moreover, in 2023, Google’s YouTube announced that the company would incorporate new generative AI features into the company’s video-sharing platform, as the internet giant hastens to keep up with artificial intelligence rivals such as OpenAI Inc. and Microsoft Corp.
Read the full report: https://www.reportlinker.com/p06457200/?utm_source=GNW

About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need – instantly, in one place.

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Artificial Intelligence

Brainomix Achieves Breakthrough with FDA Clearance of e-Lung AI Software

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

The clearance of e-Lung marks a significant milestone in Brainomix’s journey to expand its footprint in medical imaging beyond stroke-related applications and represents a notable step forward in the quest for advanced lung imaging solutions. The company, with its rich academic heritage and record of scientific excellence, will expand its research collaborations in the pulmonology space to yield new insights to inform future iterations of e-Lung and chart a path towards continual improvements for the lung imaging technology.
Dr Deji Adegunsoye, Assistant Professor of Medicine and Scientific Director of the Interstitial Lung Disease Program at University of Chicago Medicine, said: “This is an exciting step for Brainomix, who have a demonstrated track record of developing novel AI-based solutions in stroke and are now applying that expertise to develop innovative tools in the lung space. The preliminary data for e-Lung is impressive and would indicate that we have a promising tool that could help to expedite healthcare delivery and improve clinically meaningful outcomes for patients with lung disease.”
Brainomix recently announced the publication of a new study1 in the prestigious peer-reviewed journal American Journal of Respiratory and Critical Care Medicine (AJRCCM), resulting from a research collaboration with AstraZeneca. The results showed that Brainomix’s proprietary lung imaging biomarkers, which include the weighted reticulovascular score (WRVS), stratified patients at risk of Idiopathic Pulmonary Fibrosis (IPF) progression, outperforming standard measures.
Dr Michalis Papadakis, CEO and Co-Founder of Brainomix, said: “We are harnessing our expertise in AI-powered imaging to develop novel biomarkers in other disease indications where AI can support imaging-based diagnostic and treatment decisions.
“This e-Lung FDA clearance reflects our focus on developing innovative solutions that empower healthcare professionals with cutting-edge tools for sophisticated disease evaluation, enhancing access to treatments that can ultimately work to improve patient outcomes.”
Brainomix will be presenting its latest e-Lung data at the American Thoracic Society (ATS) annual conference in San Diego May 17th – 22nd, including results from research collaborations with Heidelberg University and with Seattle-based Avalyn Pharma.
Am. J. Respir. Crit. Care Med.: 2024 Feb 16 – e-Lung CT Biomarker Stratifies Patients at Risk of IPF Progression in a 52-Week Clinical Trialhttps://www.atsjournals.org/doi/abs/10.1164/rccm.202312-2274LEAbout Brainomix
Brainomix specializes in the creation of AI-powered software solutions to enable precision medicine for better treatment decisions in stroke and lung fibrosis. With origins as a spin-out from the University of Oxford, Brainomix is an expanding commercial-stage company with offices in the UK, Ireland and the USA, and operations in more than 30 countries. A private company, backed by leading healthtech investors, Brainomix has innovated award-winning imaging biomarkers and software solutions that have been clinically adopted in hundreds of hospitals worldwide. Its first product, the Brainomix 360 stroke platform, provides clinicians with the most comprehensive stroke imaging solution, driving increased treatment rates and improving functional independence for patients.
To learn more about Brainomix and its technology visit www.brainomix.com, and follow us on Twitter, LinkedIn and Facebook.
Contacts
Jeff Wyrtzen, Chief Marketing & Business Development [email protected] +44 (0)7927 164210T +44 (0)1865 582730
Media enquiries
Charles ConsultantsSue [email protected] M +44 (0)7968 726585
Logo – https://mma.prnewswire.com/media/1989193/3856380/Brainomix_Logo.jpg

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CUBE acquires global regulatory intelligence businesses from Thomson Reuters

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

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

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Cayman Enterprise City Publishes Socio-Economic Impact Assessment by Economist and Leading Advisor on the Caribbean, Marla Dukharan

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The Impact of Cayman Enterprise City’s Socio-Economic Development Project Nears USD $1 Billion
GRAND CAYMAN, Cayman Islands, May 16, 2024 /PRNewswire/ — Cayman Enterprise City (CEC) has released a Socio-Economic Impact Assessment by Marla Dukharan. The report illustrates that CEC is increasing its impact by supporting higher earnings for Caymanians and is driving a shift towards a knowledge-based economy by focusing on high productivity sectors. The release by Dukharan reads, “Caymanian resourcefulness and private sector-led innovation have been the driving force behind the islands’ outstanding socio-economic success. Cayman Enterprise City underpins the next generation of Cayman innovation and dynamism.”

With an economic impact of USD $130 million in 2023, contributing just under USD $1 billion to the local economic activity in 12 years since inception, “CEC is helping the nation to diversify economically, in terms of sectors and jobs, ensuring locals have economic and employment opportunities that match the nation’s progress,” the report reads.
The CEC socio-economic development project is now home to 352 Special Economic Zones Companies (SEZCos), many of which are globally recognised institutions led by top executives and industry experts. “CEC member companies are providing high-value employment with salaries exceeding those typically found outside of the special economic zone,” said Charlie Kirkconnell, Chief Executive Officer at CEC. “The CEC community is fully invested in Cayman and the report illustrates that the CEC socio-economic development project is making a very significant impact on Cayman’s economy and community.”
“As CEC continues to grow, it continues to create significant employment and entrepreneurial opportunities for Caymanians and we encourage anyone that might be interested in finding out how they might get involved, whether as a member of the community and/or as a volunteer in our Enterprise Cayman non-profit organisation (NPO).”
77% of Caymanian-held jobs at CEC member companies, are in sectors with high social returns and increasing global demand. “By putting skills first and prioritizing learning, CEC is enabling new industries to take root,” the release by Dukharan reads.
CEC, through its Enterprise Cayman NPO, is a first-mover in private sector-facilitated education and training in the Caribbean, making it a leading force to boost youth participation in the economy. By offering training in specialised skills, Enterprise Cayman is helping to close the gap in higher education and earnings for Caymanians. “Through Enterprise Cayman we’ve set out to strategically support meaningful employment and entrepreneurial opportunities for Caymanians, by providing internship and mentorship opportunities, by hosting skill-building and career focused training, and by providing invaluable networking and community engagement opportunities,” said Kirkconnell.
In 2023 individuals took advantage of 4,226 opportunities to participate in education, training, and career development events and, since launching entrepreneurial programming in 2021, Enterprise Cayman has worked with 41 new Cayman-born business ventures. “We’re helping to develop a local talent pool that meets the demand of Cayman’s growing digital innovation and technology sectors while, in parallel, offering exciting opportunities for individuals to launch new business ventures within an innovative business environment,” said Kirkconnell.  
With CEC’s new campus and state-of-the-art facilities, Signal House, the project “holds the promise of deep, continued economic impact,” the report concludes.
To access CEC’s economic impact assessments and Enterprise Cayman’s annual reports please visit https://www.enterprisecayman.ky/reports. For more information on how to get involved and for upcoming programmes and events visit www.enterprisecayman.ky. 
Website: www.caymanenterprisecity.com LinkedIn: @CaymanEnterpriseCityTwitter:  @CEC_CaymanInstagram: @CaymanEnterpriseCityFacebook: @CaymanEnterpriseCityYouTube: @ceccayman
About Cayman Enterprise City 
Cayman Enterprise City (CEC) is an award-winning development project which consists of three special economic zones (SEZs) focused on attracting knowledge-based and specialised-services businesses to set up a genuine physical presence in the Cayman Islands. The zones included within CEC are Cayman Tech City, Cayman Commodities & Derivatives Centre, and Cayman Maritime & Aviation City. With a dedicated Government Authority, licensing fee concessions and guaranteed fast-track processes, CEC enables international companies to quickly and efficiently establish a Cayman Islands office, which in turn enables them to generate active business income within a tax neutral environment.
About Enterprise Cayman 
Enterprise Cayman is a non-profit organisation (NPO) powered by Cayman Enterprise City in partnership with Cayman Islands’ special economic zone companies (SEZCos). The organisation, which applies the Theory of Change (TOC) methodology, provides Caymanians and residents with access to high-quality learning experiences and opportunities to develop and launch new business ventures, to pursue careers within the technology and innovation sectors, and to join a dynamic network of industry professionals. Let’s grow the next generation of Caymanian innovators and entrepreneurs with Enterprise Cayman!
Logo: https://mma.prnewswire.com/media/1317764/2860789/Cayman_Enterprise_City_Logo.jpg
FOR MORE INFORMATION:Contact: Kaitlyn Elphinstone  Email: [email protected]  

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