Connect with us
MARE BALTICUM Gaming & TECH Summit 2024

Artificial Intelligence

18.3% CAGR for Spatial Computing Market Analysis and Growth Projections, Reaching USD 620.2 Billion by 2032 | Market.us

Published

on

<!– Name:DistributionId Value:8845475 –> <!– Name:EnableQuoteCarouselOnPnr Value:False –> <!– Name:IcbCode Value:2790 –> <!– Name:CustomerId Value:1269133 –> <!– Name:HasMediaSnippet Value:false –> <!– Name:AnalyticsTrackingId Value:e7d4d009-c8a8-4790-8214-a3e29614ced6 –>

New York, May 24, 2023 (GLOBE NEWSWIRE) — In 2022, the worldwide spatial computing market was valued at USD 120.5 Billion, and it is projected to expand to USD 620.2 Billion by 2032. The market is estimated to experience a Compound Annual Growth Rate (CAGR) of 18.3% during this period.

Spatial computing can replace old computing with innovative and developing technologies such as Artificial Intelligence, the Internet of Things, Amplified Reality, Effective Reality, and many more. The factors such as the introduction of technological advancements, the development of smart city projects, and the growing IoT penetration were likely estimated to propel the demand for spatial computing solutions.

Spatial Computing Market

Get additional highlights on major revenue-generating segments, Request a spatial computing Market sample report at https://market.us/report/spatial-computing-market/request-sample/

Key Takeaway

  • By Type, The Internet of Things Held the Largest Share of the Market
  • By Application, the healthcare segment has dominated the market, and it is growing at the highest CAGR over the forecast period 2023 to 2032.
  • In 2022, North America dominated the market with the highest revenue share of 42%.
  • Asia-Pacific will grow at a significant CAGR from 2023-2032.

A prominent share of industrial IoT service providers is offering a 5G capable network, and this will enhance the growth of the spatial computing market during the forecast period 2023-2032. Key players are concentrating on new product launches to improve customer experiences. This will likely expand the market growth.

Factors Affecting the Growth of Spatial Computing Market

There are several factors that can affect the growth of the spatial computing market. Some of these factors include:

  • Increasing IoT Penetration: The increasing IoT penetration will likely facilitate global market growth.
  • Emerging Smart City Projects: The main factor driving the market’s growth is a smart city project.
  • Increasing Demand for Low-Latency Processing: Increasing demand for low-latency processing boosts market growth.
  • Advent Of Technological Advancements: Technological advancements are expected to further boost the market’s growth.
  • Key Players Are Concentrating On New Product Launches: The key players are concentrating on new product launches resulting in market growth.

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

Top Trends in Global Spatial Computing Market

Spatial computing is a technology evolution without restrictions on any particular industry. Thus, IoT and spatial computing have a great future. Additionally, large enterprises in the industry, such as manufacturing and telecom, are progressively using spatial computing. Spatial computing in evolving countries such as Indonesia, China, and India aids as an advantageous opportunity for edge computing architecture. Moreover, IoT and edge computing for architects is emerging as key trend.

Market Growth

After the COVID-19 pandemic, the demand for spatial computing has seen a rise, and this was likely to continue during the forecast period because of the continued prominence of developing communications infrastructure. A network requires low-latency connectivity and high security. Thus healthcare system has acquired a grip with the help of online consultations. Businesses around many industry verticals have decreased their investments and expenditures to gain significant cost reductions.

Regional Analysis

North America held the largest revenue share of 42% of the overall market. The increasing implementation of connected devices like iPad, smartphones, tablets, and others has generated a huge demand for spatial computing solutions. Asia Pacific held a significant revenue share. The significant development of the connected device ecosystem of the region has resulted in huge data generation. It surges the demand for a robust computational infrastructure.

Competitive Landscape

The major market players are focused on developing innovative collaboration software to gain a competitive edge and attract a more extensive customer base. It is a complete range of solutions that businesses can use to enhance, run, and build their workflow. The growing number of such offerings is projected to favor the growth of the market over the forecast period 2023-2032.

Market Key Players:

  • Microsoft Corporation
  • Honeywell International Inc.
  • ABB Ltd.
  • Huawei Technologies Co., Ltd.
  • Hewlett Packard Enterprise Development
  • Atos
  • General Electric Company
  • Cisco Systems, Inc.
  • IBM Corporation
  • Intel Corporation
  • Other Key Players

To have an edge over the competition by knowing the market dynamics and current trends, request for Sample Report here

Scope

Report Attributes Details
Market Value (2022) USD 120.5 Billion
Market Size in 2032 USD 620.2 Billion
CAGR (2023 to 2032) 18.3%
North America Revenue Share 42%
Historic Period 2016 to 2022
Base Year 2022
Forecast Year 2023 to 2032

Market Drivers

The key requirement in today’s business scenario is reducing the data sent to the cloud and service access latency, mainly for enterprises via cloud infrastructure. The latency is the time the data packet travels in the computer network. Lower latency marks a higher data transmission rate. It has numerous applications, such as content delivery & remote monitoring of manufacturing sites and oil & gas fields. Furthermore, edge computing also helps in increasing application performances and the business efficiency of enterprises by decreasing operating costs. This was accomplished by reducing the costs related to unnecessary storage as well as transmission in the cloud.

Market Restraints

Spatial computing technologies are expensive, which can lower their acceptance by smaller organizations with limited budgets. During the market for spatial computing is increasing, it is quite small compared to the other computing platforms. The criteria of a limited user base can make it more difficult for upcoming companies to invest in spatial computing skills.

Market Opportunities

The spatial computing market has important opportunities for growth and novel innovation. Inventions in hardware, AI, and gaming businesses and the rising demand for various company collaborations drive the market.

Grow your profit margin with Market.us – Purchase This Premium Report at https://market.us/purchase-report/?report_id=101747

Report Segmentation of the Spatial Computing Market

Type Insight

The hardware segment held the largest revenue share at 45%. The demand for the hardware segment is increasing because it has become popular in the managed services industry. During the forecast period, this will likely hold a significant market revenue share. The number of IIOT and IoT devices is growing rapidly owing to an increase in the volume of data created by these devices. Therefore, enterprises are implementing edge computing gear to deal with the volume of data created to reduce the burden on the data centers and cloud.

Application Insight

The IOT segment accounted for the highest revenue share of 30%. Edge computing has played an essential role in allowing manufacturers to reach the goal of digitalizing their facilities. As edge infrastructure becomes more available, the demand for edge infrastructure is estimated to increase.

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

Market Segmentation

By Type

  • Virtual Reality
  • Mixed Reality
  • Augmented Reality
  • Internet of Things
  • Artificial Intelligence
  • Other Types

By Application

  • Healthcare
  • Automotive
  • Transport
  • Manufacturing
  • Media & Entertainment
  • Other Applications

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

Recent Development of the Spatial Computing Market

  • In June 2022- SixSq declared their continuing partnership to provide sound-embedded software. This software can examine particular sounds in any environment with the help of Nuvla Marketplace.
  • In May 2022- The Manufacturing Connect platform was co-developed by Litmus with Google Cloud to simplify the complex task of collecting data from disparate factory devices and exposing it to AI and Google Cloud data applications.
  • In April 2022- Nokia declared plans to incorporate Microsoft Azure Arc abilities into the Nokia MX Industrial Edge platform, unlocking the potential of mission-critical applications for Industry 4.0 use cases.

Browse More Related Reports:

About Us:

Market.US (Powered by Prudour Pvt Ltd) specializes in in-depth market research and analysis and has been proving its mettle as a consulting and customized market research company, apart from being a much sought-after syndicated market research report-providing firm. Market.US provides customization to suit any specific or unique requirement and tailor-makes reports as per request. We go beyond boundaries to take analytics, analysis, study, and outlook to newer heights and broader horizons.

Follow Us On LinkedIn Facebook Twitter

Our Blog: 


GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Artificial Intelligence

Ancoris Recognised as Top Place to Work for Second Year Running by The Sunday Times

Published

on

ancoris-recognised-as-top-place-to-work-for-second-year-running-by-the-sunday-times

Ancoris recognised for fostering a sense of empowerment and respect within the workplace91% of Ancoris employees feel empowered at work93% of employees say that are treated with respectLONDON, May 21, 2024 /PRNewswire/ — Ancoris, a UK-based Google Cloud services provider, has been named a Top Medium Business in The Sunday Times 2024 Best Places to Work list. The accolade has been awarded for the second year in a row, and recognises Ancoris’ focus on DEI; its commitment to empowerment, reward, and recognition; and its wellbeing policies and frameworks.

“I am so pleased to see Ancoris recognised, once again, as a top place to work!” says Andre Azevedo, Ancoris CEO. “Ancoris is a place where we try our best to foster collaboration, empowerment, innovation, and respect – so to have our employees echo this and respond in the way they have is amazing.”
The Sunday Times survey captured Ancoris employees’ responses in a number of categories: Reward and Recognition, Information Sharing, Empowerment, Wellbeing, Instilling Pride, and Job Satisfaction. The independently managed survey showed Ancoris scoring “excellent” across all six engagement categories, with top scores in Empowerment, Wellbeing, Reward & Recognition. In response, 93% of employees say they are treated with respect; 92% feel trusted and able to make decisions; and 91% of employees feel empowered at work.
“We’ve seen a lot of change over the last 12 months. The rise of Generative AI has caused shifts in our market and  economic conditions are causing customers to really qualify where they make technology investments. These pivots undoubtedly have an impact on our employees and how people feel at work,” Azevedo continues. “I truly believe, however, the innovative work we are doing for our customers has helped us maintain and create an even stronger sense of collaboration and pride for our team members. We’re lucky to have so many smart people within our business, so continuing to give them interesting, challenging, and rewarding problems to solve for our customers is really key.”
About AncorisAncoris is a leading Google Cloud Services Provider, headquartered in the UK, on a mission to become the most innovative Google Cloud partner in the ecosystem. Ancoris leverages its strong problem solving skills and continuous improvement approach to help customers become AI Native and stay ahead of their competition. Ancoris has extensive experience in Google Cloud technologies helping enterprises integrate AI-native solutions into their business through expertise in Data & AI, Application and Infrastructure Modernisation, Workspace, and Maps. Ancoris was recognized as a Rising Star for Data, Analytics, and Machine Learning in the ISG Provider™ Lens for Google Cloud Partner Ecosystem in 2022 and 2023 consecutively, and awarded Google Cloud’s 2024 EMEA Public Sector Partner of the Year award. Ancoris employs the best in the business and was named in the Top 10 Sunday Times Best Places to Work 2023, and a Top Place to Work in 2024.
Contact: Holly [email protected]
Photo – https://mma.prnewswire.com/media/2417995/Ancoris_Sunday_Times.jpgLogo – https://mma.prnewswire.com/media/2099949/4717512/Ancoris_Logo.jpg

View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/ancoris-recognised-as-top-place-to-work-for-second-year-running-by-the-sunday-times-302151325.html

Continue Reading

Artificial Intelligence

Department of Health – Abu Dhabi Partners with Roche Pharmaceuticals Middle East to Elevate Research, Clinical Trials, and Real-World Data

Published

on

department-of-health-–-abu-dhabi-partners-with-roche-pharmaceuticals-middle-east-to-elevate-research,-clinical-trials,-and-real-world-data

ABU DHABI, UAE, May 21, 2024 /PRNewswire/ — The Department of Health – Abu Dhabi (DoH), the regulator of the healthcare sector in the Emirate, signed a Memorandum of Understanding (MoU) with Roche Pharmaceuticals Middle East during Abu Dhabi Global Healthcare Week (ADGHW). Under the MoU, the two entities will advance critical research using real-world data to study and assess the spinal muscular atrophy burden in Abu Dhabi, as well as assessing potential conduction of research and the facilitation of real-world data collection to monitor Duchenne Muscular Dystrophy (DMD) disease.

 
 
In the presence of Dr. Rashed Alsuwaidi, the Executive Director of the Healthcare Workforce Planning Sector at DoH and Michael Oberreiter, Head of Global Access at Roche Pharmaceuticals, the MoU was signed by Dr. Asma Al Mannaei, the Executive Director of the Research and Innovation Centre at DoH and Mohamed Elshaarawy, General Manager Roche Pharmaceuticals, UAE.
Dr. Asma Ibrahim Al Mannaei, Executive Director of the Research and Innovation Center at the at DoH said: “Abu Dhabi has a track record of excellence and fast-growing, future-forward, data-enabled services. Serving as a hub for healthcare data, Abu Dhabi’s substantial computing power enables it to harness the potential within this data, transforming it into valuable information. This, in turn, allows us to innovate and develop novel approaches to shift healthcare towards prediction, prevention, and treatment, thereby accelerating the future of healthcare, not only for Abu Dhabi but for the global community. Through international collaborations, Abu Dhabi seeks to lead research groups supported by global partners to explore the resilience and sustainability of the healthcare sector worldwide as well as expand access to quality care for patients around the world.”
The two entities will work together to support the evolution of real-world data collection frameworks in Abu Dhabi. Enhancing DoH’s ability to track and monitor outcomes of therapies will support DoH in making informed clinical and policy decisions for better optimisation of patient outcomes. Furthermore, DoH and Roche will strengthen the research network across Abu Dhabi and improve accrual for potential clinical trials.
Mohamed Elshaarawy, General Manager Roche Pharmaceuticals, UAE said: “This MoU underscores our collaboration with the DoH which is fuelled by a shared vision of harnessing the power of data to drive informed decision-making within the healthcare system. Data-driven healthcare systems hold immense potential to revolutionise patient care and outcomes. Through the generation, utilisation, and realisation of data, healthcare professionals and policymakers can unlock valuable insights, identify trends, and make evidence-based decisions. This data-driven approach enables us to optimise resource allocation, personalise treatment approaches, and ultimately achieve better patient outcomes. By harnessing the full potential of data, we can improve the overall efficiency and effectiveness of the healthcare system, ensuring that every patient receives the highest quality of care tailored to their specific needs. We are sincerely grateful for the trust, confidence, and empowerment the DoH has placed in establishing this effective public-private partnership with Roche in the UAE.”
Held under the patronage of His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of Abu Dhabi Executive Council, ADGHW is a major government initiative by the DoH, which took place from the 13th -15th May 2024.
For more information please visit: https://www.adghw.com/
About Department of Health – Abu Dhabi (DoH):
The DoH is the regulatory body of the healthcare sector at the Emirate of Abu Dhabi and ensures excellence in healthcare by monitoring the health status of the population. DoH defines the strategy for the health system, monitors and analyses the health status of the population and performance of the system. In addition, DoH shapes the regulatory framework for the health system, inspects against regulations, enforce standards, and encourages adoption of world-class best practices and performance targets by all healthcare service providers in the Emirate. DoH also drives programmes to increase awareness and adoption of healthy living standards among the residents of the Emirate of Abu Dhabi in addition to regulating scope of services, premiums and reimbursement rates of the health system.
For further information on DoH, visit https://www.doh.gov.ae/ and follow on X, Instagram, Facebook, LinkedIn and YouTube.
Photo – https://mma.prnewswire.com/media/2417975/DoH_Partners_with_Roche_Pharmaceuticals.jpg
 

View original content:https://www.prnewswire.co.uk/news-releases/department-of-health–abu-dhabi-partners-with-roche-pharmaceuticals-middle-east-to-elevate-research-clinical-trials-and-real-world-data-302151316.html

Continue Reading

Artificial Intelligence

Biopharma Leaders Shape the Future of Drug Development at Veeva R&D and Quality Summit Europe

Published

on

biopharma-leaders-shape-the-future-of-drug-development-at-veeva-r&d-and-quality-summit-europe

Ascendis, Bayer, Boehringer Ingelheim, Jazz Pharmaceuticals, Novo Nordisk, Sanofi, and Teva to keynote sharing innovations to drive better patient outcomes
BARCELONA, Spain, May 21, 2024 /PRNewswire/ — Veeva Systems (NYSE: VEEV) today announced that leaders from Ascendis Pharma A/S, Bayer, Boehringer Ingelheim, Jazz Pharmaceuticals, Novo Nordisk, Sanofi, and Teva will be keynote speakers at Veeva R&D and Quality Summit, Europe, June 4-5 in Madrid, Spain. Life sciences professionals across the industry will come together to share how connected technologies across clinical, regulatory, safety, and quality are advancing innovations for patients.

As one of the largest gatherings of biopharma leaders in Europe, Veeva R&D and Quality Summit will bring together over 1,000 industry professionals to share learnings across more than 100 sessions. Bayer and Jazz Pharmaceuticals will join Rik Van Mol, senior vice president of Veeva Development Cloud, and Avril England, general manager of Veeva Vault, for the opening keynote to explore the future of development for new medicines and therapies.
The event’s zone keynotes include:
Ascendis and Bayer, sharing strategies to reduce costs and accelerate trials with a connected platform.Boehringer Ingelheim, detailing its shift toward data-centric regulatory information management.Novo Nordisk, showing how it uses data and AI to transform clinical research.Sanofi, explaining its innovative approach to advance quality through operational excellence.Teva, providing insight into its rapid journey from disparate safety systems into one streamlined global solution.A panel with Elpida Therapeutics CEO Terry Pirovolakis and Veeva experts will close the event with a discussion on how the industry can best accelerate the development of life-saving rare disease gene therapies.
“Connecting clinical, regulatory, safety, and quality is key to advancing the product lifecycle and delivering better outcomes for patients,” says Rik Van Mol, senior vice president of Veeva Development Cloud. “At Veeva R&D and Quality Summit, biopharma leaders can connect, exchange ideas, and share new strategies to advance the industry forward together.”
Veeva R&D and Quality Summit is open exclusively to life sciences professionals. Register and review the agenda at veeva.com/eu/Summit.
Additional InformationConnect with Veeva on LinkedIn: linkedin.com/company/veeva-systems
About Veeva SystemsVeeva is the global leader in cloud software for the life sciences industry. Committed to innovation, product excellence, and customer success, Veeva serves more than 1,000 customers, ranging from the world’s largest biopharmaceutical companies to emerging biotechs. As a Public Benefit Corporation, Veeva is committed to balancing the interests of all stakeholders, including customers, employees, shareholders, and the industries it serves. For more information, visit veeva.com/eu.
Veeva Forward-looking StatementsThis release contains forward-looking statements regarding Veeva’s products and services and the expected results or benefits from use of our products and services. These statements are based on our current expectations. Actual results could differ materially from those provided in this release and we have no obligation to update such statements. There are numerous risks that have the potential to negatively impact our results, including the risks and uncertainties disclosed in our filing on Form 10-K for the fiscal year ended January 31, 2024, which you can find here (a summary of risks which may impact our business can be found on pages 9 and 10), and in our subsequent SEC filings, which you can access at sec.gov.
Contact:
Jeremy WhittakerVeeva [email protected]
Logo – https://mma.prnewswire.com/media/1488285/Veeva_Systems_Logo.jpg 

View original content:https://www.prnewswire.co.uk/news-releases/biopharma-leaders-shape-the-future-of-drug-development-at-veeva-rd-and-quality-summit-europe-302150491.html

Continue Reading

Trending