PUNE, India, Oct. 17, 2023 /PRNewswire/ — In a recent publication from Infinium Global Research, a detailed examination of the AI-enabled Imaging Solutions Market is presented, encompassing both global and regional perspectives. This report delves into the analysis of various segments and sub-segments while shedding light on how drivers, constraints, and macro indicators impact the AI-enabled imaging solutions market in both the short and long terms. Within this comprehensive report, you’ll find a thorough exploration of trends, forecasts, and the monetary values associated with the global AI-enabled imaging solutions market. Notably, the revenue generated by the AI-enabled imaging solutions market reached USD 1,906.95 million in 2022, and it is anticipated to reach USD 10,912.78 million by 2030, with a notable Compound Annual Growth Rate (CAGR) of 21.25% during the forecast period of 2022-2030.
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Revolutionizing Medical Imaging Through AI
AI-enabled Medical Imaging Solutions represent an innovative healthcare technology that incorporates Artificial Intelligence (AI) algorithms and machine learning techniques to revolutionize the acquisition, analysis, interpretation, and management of medical images. These cutting-edge solutions provide invaluable assistance to healthcare professionals, especially radiologists and clinicians, across various aspects of medical imaging, diagnosis, and patient care.
Leveraging the capabilities of AI and machine learning, these solutions enhance image quality, eliminate distortions, amplify intricate details, and rectify flaws—critical in medical imaging, where accurate diagnosis hinges on precise and high-quality images. AI’s power lies in its ability to facilitate early detection and diagnosis of diseases, including cancer, cardiovascular conditions, and neurological disorders, by analyzing medical images like X-rays, MRIs, and CT scans. AI can discern subtle patterns and anomalies that may elude human radiologists. The scope of AI-enabled medical imaging solutions continues to expand, offering transformative potential to various facets of healthcare and medical imaging.
Driving Forces of AI-Enabled Imaging Solutions
Advancements in Artificial Intelligence (AI) and Machine Learning (ML) form the bedrock of market growth. Continuous progress in AI and ML algorithms has ushered in more precise image analysis, interpretation, and automation, underpinning the development of AI-enabled imaging solutions. The rising demand for automation and enhanced efficiency further drives market growth. Industries across sectors are increasingly seeking ways to automate tasks that involve visual data, optimizing efficiency, reducing errors, and minimizing operational costs. The proliferation of vast amounts of image and video data, often termed “big data,” serves as fertile ground for training and enhancing AI models. This data originates from diverse sources, including medical imaging, surveillance cameras, drones, and satellites.
However, maintaining data privacy and security remains a critical concern, particularly in medical imaging, which frequently involves sensitive patient information. AI-enabled medical imaging solutions are poised to offer myriad opportunities, from improving healthcare outcomes and efficiency to fostering innovation. By assisting radiologists and clinicians in identifying subtle abnormalities in medical images, these solutions can lead to earlier and more accurate diagnoses, ultimately resulting in enhanced patient outcomes and reduced healthcare costs through timely interventions.
North America Leads, Asia-Pacific Rises
North America is expected to maintain dominance in the AI-enabled imaging solutions market, propelled by factors such as its advanced healthcare infrastructure, substantial investments, robust research, and innovation ecosystem. Specifically, the United States and Canada boast highly developed healthcare systems replete with hospitals, medical centers, and diagnostic facilities ideally suited for AI-powered medical imaging solutions implementation. The region has witnessed significant investments in healthcare technology and artificial intelligence, with support from venture capital firms and government agencies, particularly in the context of medical imaging. Furthermore, North America is home to numerous prestigious research institutions, universities, and technology giants actively driving medical imaging research and pioneering AI algorithms and solutions designed to enhance diagnoses and patient care.
Meanwhile, the Asia-Pacific region is experiencing rapid growth in the AI-enabled medical imaging solutions market. With a significant portion of the world’s population residing here, this region presents an extensive and diverse patient pool ripe for the implementation of AI-enabled solutions to enhance healthcare access and efficiency. Moreover, the region grapples with a rising burden of diseases, including chronic conditions and cancer. AI-enabled medical imaging can play a pivotal role in addressing these healthcare challenges by providing faster and more accurate diagnoses and treatment recommendations.
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The global AI-enabled imaging solutions market encompasses various key segments:
Offering:Software Tools/PlatformServicesImage Acquisition Technology:X-rayComputed TomographyMagnetic Resonance ImagingUltrasound ImagingMolecular ImagingEnd User:HospitalsClinicsResearch Laboratories & Diagnostic CentersCybersecurityTechnology:Machine LearningNatural Language ProcessingContext-Aware ComputingComputer VisionCompetitive Landscape:
The report provides profiles of the companies in the market such as Arterys, Siemens Healthcare GmbH, Koninklijke Philips N.V., GE HealthCare, IBM Watson Health (is now Merative), IMAGEN, Lunit Inc., Quibim, Aidoc, and EnvoyAI (acquired by TeraRecon).
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Table of Content
Chapter 1. Preface
1.1. Report Description
1.2. Research Methods
1.3. Research Approaches
Chapter 2. Executive Summary
2.1. AI-enabled Imaging Solutions Market Highlights
2.2. AI-enabled Imaging Solutions Market Projection
2.3. AI-enabled Imaging Solutions Market Regional Highlights
Chapter 3. Global AI-enabled Imaging Solutions Market Overview
3.2. Market Dynamics
3.3. Porter`s Five Forces Analysis
3.4. IGR-Growth Matrix Analysis
3.4.1. IGR-Growth Matrix Analysis by Offering
3.4.2. IGR-Growth Matrix Analysis by Image Acquisition Technology
3.4.3. IGR-Growth Matrix Analysis by End User
3.4.4. IGR-Growth Matrix Analysis by Technology
3.4.5. IGR-Growth Matrix Analysis by Region
3.5. Value Chain Analysis of AI-enabled Imaging Solutions Market
Chapter 4. AI-enabled Imaging Solutions Market Macro Indicator Analysis
Chapter 5. Company Profiles and Competitive Landscape
5.1. Competitive Landscape in the Global AI-enabled Imaging Solutions Market
5.2. Companies Profiles
5.2.2. Siemens Healthcare GmbH
5.2.3. Koninklijke Philips N.V.
5.2.4. GE HealthCare
5.2.5. IBM Watson Health (is now Merative)
5.2.7. Lunit Inc.
5.2.10. EnvoyAI (acquired by TeraRecon)
Chapter 6. Global AI-enabled Imaging Solutions Market by Offering
6.1. Software Tools/Platform
Chapter 7. Global AI-enabled Imaging Solutions Market by Image Acquisition Technology
7.2. Computed Tomography
7.3. Magnetic Resonance Imaging
7.4. Ultrasound Imaging
7.5. Molecular Imaging
Chapter 8. Global AI-enabled Imaging Solutions Market by End User
8.3. Research Laboratories & Diagnostic Centers
Chapter 9. Global AI-enabled Imaging Solutions Market by Technology
9.1. Machine Learning
9.2. Natural Language Processing
9.3. Context-aware Computing
9.4. Computer Vision
Chapter 10. Global AI-enabled Imaging Solutions Market by Region 2023-2030
10.1. North America
10.1.1. North America AI-enabled Imaging Solutions Market by Offering
10.1.2. North America AI-enabled Imaging Solutions Market by Image Acquisition Technology
10.1.3. North America AI-enabled Imaging Solutions Market by End User
10.1.4. North America AI-enabled Imaging Solutions Market by Technology
10.1.5. North America AI-enabled Imaging Solutions Market by Country
10.1.5.1. The U.S. AI-enabled Imaging Solutions Market
10.1.5.1.1. The U.S. AI-enabled Imaging Solutions Market by Offering
10.1.5.1.2. The U.S. AI-enabled Imaging Solutions Market by Image Acquisition Technology
10.1.5.1.3. The U.S. AI-enabled Imaging Solutions Market by End User
10.1.5.1.4. The U.S. AI-enabled Imaging Solutions Market by Technology
10.1.5.2. Canada AI-enabled Imaging Solutions Market
10.1.5.2.1. Canada AI-enabled Imaging Solutions Market by Offering
10.1.5.2.2. Canada AI-enabled Imaging Solutions Market by Image Acquisition Technology
10.1.5.2.3. Canada AI-enabled Imaging Solutions Market by End User
10.1.5.2.4. Canada AI-enabled Imaging Solutions Market by Technology
10.1.5.3. Mexico AI-enabled Imaging Solutions Market
10.1.5.3.1. Mexico AI-enabled Imaging Solutions Market by Offering
10.1.5.3.2. Mexico AI-enabled Imaging Solutions Market by Image Acquisition Technology
10.1.5.3.3. Mexico AI-enabled Imaging Solutions Market by End User
10.1.5.3.4. Mexico AI-enabled Imaging Solutions Market by Technology
10.2.1. Europe AI-enabled Imaging Solutions Market by Offering
10.2.2. Europe AI-enabled Imaging Solutions Market by Image Acquisition Technology
10.2.3. Europe AI-enabled Imaging Solutions Market by End User
10.2.4. Europe AI-enabled Imaging Solutions Market by Technology
10.2.5. Europe AI-enabled Imaging Solutions Market by Country
10.2.5.1. Germany AI-enabled Imaging Solutions Market
10.2.5.1.1. Germany AI-enabled Imaging Solutions Market by Offering
10.2.5.1.2. Germany AI-enabled Imaging Solutions Market by Image Acquisition Technology
10.2.5.1.3. Germany AI-enabled Imaging Solutions Market by End User
10.2.5.1.4. Germany AI-enabled Imaging Solutions Market by Technology
10.2.5.2. United Kingdom AI-enabled Imaging Solutions Market
10.2.5.2.1. United Kingdom AI-enabled Imaging Solutions Market by Offering
10.2.5.2.2. United Kingdom AI-enabled Imaging Solutions Market by Image Acquisition Technology
10.2.5.2.3. United Kingdom AI-enabled Imaging Solutions Market by End User
10.2.5.2.4. United Kingdom AI-enabled Imaging Solutions Market by Technology
10.2.5.3. France AI-enabled Imaging Solutions Market
10.2.5.3.1. France AI-enabled Imaging Solutions Market by Offering
10.2.5.3.2. France AI-enabled Imaging Solutions Market by Image Acquisition Technology
10.2.5.3.3. France AI-enabled Imaging Solutions Market by End User
10.2.5.3.4. France AI-enabled Imaging Solutions Market by Technology
10.2.5.4. Italy AI-enabled Imaging Solutions Market
10.2.5.4.1. Italy AI-enabled Imaging Solutions Market by Offering
10.2.5.4.2. Italy AI-enabled Imaging Solutions Market by Image Acquisition Technology
10.2.5.4.3. Italy AI-enabled Imaging Solutions Market by End User
10.2.5.4.4. Italy AI-enabled Imaging Solutions Market by Technology
10.2.5.5. Rest of Europe AI-enabled Imaging Solutions Market
10.2.5.5.1. Rest of Europe AI-enabled Imaging Solutions Market by Offering
10.2.5.5.2. Rest of Europe AI-enabled Imaging Solutions Market by Image Acquisition Technology
10.2.5.5.3. Rest of Europe AI-enabled Imaging Solutions Market by End User
10.2.5.5.4. Rest of Europe AI-enabled Imaging Solutions Market by Technology
10.3. Asia Pacific
10.3.1. Asia Pacific AI-enabled Imaging Solutions Market by Offering
10.3.2. Asia Pacific AI-enabled Imaging Solutions Market by Image Acquisition Technology
10.3.3. Asia Pacific AI-enabled Imaging Solutions Market by End User
10.3.4. Asia Pacific AI-enabled Imaging Solutions Market by Technology
10.3.5. Asia Pacific AI-enabled Imaging Solutions Market by Country
10.3.5.1. China AI-enabled Imaging Solutions Market
10.3.5.1.1. China AI-enabled Imaging Solutions Market by Offering
10.3.5.1.2. China AI-enabled Imaging Solutions Market by Image Acquisition Technology
10.3.5.1.3. China AI-enabled Imaging Solutions Market by End User
10.3.5.1.4. China AI-enabled Imaging Solutions Market by Technology
10.3.5.2. Japan AI-enabled Imaging Solutions Market
10.3.5.2.1. Japan AI-enabled Imaging Solutions Market by Offering
10.3.5.2.2. Japan AI-enabled Imaging Solutions Market by Image Acquisition Technology
10.3.5.2.3. Japan AI-enabled Imaging Solutions Market by End User
10.3.5.2.4. Japan AI-enabled Imaging Solutions Market by Technology
10.3.5.3. India AI-enabled Imaging Solutions Market
10.3.5.3.1. India AI-enabled Imaging Solutions Market by Offering
10.3.5.3.2. India AI-enabled Imaging Solutions Market by Image Acquisition Technology
10.3.5.3.3. India AI-enabled Imaging Solutions Market by End User
10.3.5.3.4. India AI-enabled Imaging Solutions Market by Technology
10.3.5.4. South Korea AI-enabled Imaging Solutions Market
10.3.5.4.1. South Korea AI-enabled Imaging Solutions Market by Offering
10.3.5.4.2. South Korea AI-enabled Imaging Solutions Market by Image Acquisition Technology
10.3.5.4.3. South Korea AI-enabled Imaging Solutions Market by End User
10.3.5.4.4. South Korea AI-enabled Imaging Solutions Market by Technology
10.3.5.5. Australia AI-enabled Imaging Solutions Market
10.3.5.5.1. Australia AI-enabled Imaging Solutions Market by Offering
10.3.5.5.2. Australia AI-enabled Imaging Solutions Market by Image Acquisition Technology
10.3.5.5.3. Australia AI-enabled Imaging Solutions Market by End User
10.3.5.5.4. Australia AI-enabled Imaging Solutions Market by Technology
10.3.5.6. Rest of Asia-Pacific AI-enabled Imaging Solutions Market
10.3.5.6.1. Rest of Asia-Pacific AI-enabled Imaging Solutions Market by Offering
10.3.5.6.2. Rest of Asia-Pacific AI-enabled Imaging Solutions Market by Image Acquisition Technology
10.3.5.6.3. Rest of Asia-Pacific AI-enabled Imaging Solutions Market by End User
10.3.5.6.4. Rest of Asia-Pacific AI-enabled Imaging Solutions Market by Technology
10.4.1. RoW AI-enabled Imaging Solutions Market by Offering
10.4.2. RoW AI-enabled Imaging Solutions Market by Image Acquisition Technology
10.4.3. RoW AI-enabled Imaging Solutions Market by End User
10.4.4. RoW AI-enabled Imaging Solutions Market by Technology
10.4.5. RoW AI-enabled Imaging Solutions Market by Sub-region
10.4.5.1. Latin America AI-enabled Imaging Solutions Market
10.4.5.1.1. Latin America AI-enabled Imaging Solutions Market by Offering
10.4.5.1.2. Latin America AI-enabled Imaging Solutions Market by Image Acquisition Technology
10.4.5.1.3. Latin America AI-enabled Imaging Solutions Market by End User
10.4.5.1.4. Latin America AI-enabled Imaging Solutions Market by Technology
10.4.5.2. Middle East AI-enabled Imaging Solutions Market
10.4.5.2.1. Middle East AI-enabled Imaging Solutions Market by Offering
10.4.5.2.2. Middle East AI-enabled Imaging Solutions Market by Image Acquisition Technology
10.4.5.2.3. Middle East AI-enabled Imaging Solutions Market by End User
10.4.5.2.4. Middle East AI-enabled Imaging Solutions Market by Technology
10.4.5.3. Africa AI-enabled Imaging Solutions Market
10.4.5.3.1. Africa AI-enabled Imaging Solutions Market by Offering
10.4.5.3.2. Africa AI-enabled Imaging Solutions Market by Image Acquisition Technology
10.4.5.3.3. Africa AI-enabled Imaging Solutions Market by End User
10.4.5.3.4. Africa AI-enabled Imaging Solutions Market by Technology
As AI continues to redefine the landscape of medical imaging, providing unparalleled insights, enhancing efficiency, and fostering innovation, its transformative potential within healthcare is set to revolutionize the global industry. For a comprehensive analysis of specific segments, emerging market trends, competitive dynamics, and growth prospects, please refer to the full research report.
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Reasons to Buy this Report:
=> Comprehensive analysis of global as well as regional markets of AI-enabled imaging solutions.
=> Complete coverage of all the product types and application segments to analyze the trends, developments, and forecast of market size up to 2030.
=> Comprehensive analysis of the companies operating in this market. The company profile includes an analysis of the product portfolio, revenue, SWOT analysis, and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus on to invest, consolidate, expand, and/or diversify.
About Infinium Global Research:
Infinium Global Research is a business consulting and market research firm; a group of experts that caters to fulfilling business and market research needs of leading companies in various industry verticals and business segments. The company also serves government bodies, institutes, and non-profit/non-government organizations to meet their knowledge and information needs.
Through our information services and solutions, we assist our clients to improve their performance and assess the market conditions to achieve their organizational goals. Our team of experts and analysts are engaged in continuously monitoring and assessing the market conditions to provide knowledge support to our clients. To help our clients and to stay updated with the advances and inventions in technology, business processes, regulations, and the environment, Infinium often conducts regular meets with industry experts and opinion leaders. Our key opinion leaders are involved in monitoring and assessing the progress in the business environment, so as to offer the best opinion to our clients.
Infinium Global Research2nd Floor, Ganadish Empire,Rahatani Chowk, Pimple Saudagar,Pimpri-Chinchwad, Maharashtra 411027Phone: +918999930634Email: [email protected] Website: www.infiniumglobalresearch.com
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Two thirds of PR Pros can’t prove their work helps their business or client: CoverageBook
Just 1 in 3 PRs track the commercial impact of their work – while 66% are focused on driving high volumes of coverage31% of PRs have seen budgets cut in the last year, but a staggering 50% of those respondents believe this would have been less likely if they could better prove commercial relevanceNew free tool ‘CoverageImpact’ helps PRs prove the value of their work and bridge this disconnectLONDON, Feb. 22, 2024 /PRNewswire/ — PR may talk the talk when it comes to boardroom relevance, but it’s failing to walk the walk. New research from CoverageBook, the leading PR industry reporting platform, shows that just one third of PR pros align their activity with commercial goals. The survey of over 350 senior PR and marketing professionals reveals a significant disconnect between how the PR industry measures and reports on activity and what senior leaders and budget holders expect to see.
This research comes at a time when clients are putting increased scrutiny on PR teams to demonstrate impact. While the industry is finally putting outdated metrics like AVE (used by just 7% of respondents) to bed – there’s no consensus on how to prove the value of PR and communications.
To help build that consensus and allow every PR to prove the value of their work, CoverageBook is launching CoverageImpact, a revolutionary free tool designed to simplify PR reporting and impact measurement. The tool aims to bridge the gap between PR professionals’ activities and their clients’ commercial goals, ensuring that there’s no disconnect between agency and client or within a business.
This is particularly important as less than half of PR professionals currently consider new biz and sales when measuring the impact of their work – just 41% of UK respondents and 34% of US respondents take the new business/sales pipeline into account. These numbers drop significantly when asked about investment generation – 14% of UK respondents and 13% of US respondents.
So what are they measuring? Well unsurprisingly, the focus is on outputs and audience, with 96% citing target audience as a key measurement criteria and 66% high volumes of coverage.
Lack of commercial proof has a financial impact
The result of all this lack of commercial certainty? Unfortunately, it’s budget cuts. When asked about their 2023 budgets, 31% of all respondents said they had seen cuts (33% agencies, and 22% in-house).
Unsurprisingly, 50% of those respondents believe this would have been less likely if they could better prove commercial relevance. Breaking that figure down clearly shows the correlation between impact proof and budget decisions, with 75% of agency respondents and 25% of in-house respondents in the UK agreeing with that statement, alongside 79% of agency respondents and 21% of in-house respondents in the USA.
Commenting on the findings, Alastair McCapra, CIPR CEO said: “These findings show how PR practitioners are putting more time into measurement and evaluation, but the lack of a common approach is costing us credibility. With one in three PR budgets being cut and a sluggish economy, we need to be more effective than ever in telling our story, and communicating the impact and value of our work.”
When asked about the biggest challenges they face in measurement, 54% of all respondents cited a lack of a universal measurement framework, while 52% mentioned a lack of measurement tools. These findings underscore the urgent need for tools that simplify measurement and reporting, making it easier for PR professionals to demonstrate the value of their work.
CoverageImpact, developed by the creators of CoverageBook and Answer The Public, offers a simple solution for turning coverage tracker spreadsheets into visually appealing ‘coverage over time’ graphics. With CoverageImpact, users can easily add impact data to their reports without the need for complex pivot tables or data visualisation skills. The tool is compatible with popular PR tools such as Excel, Google Sheets, Cision, MuckRack, TalkWalker, Meltwater, and CoverageBook, making it accessible to PR professionals worldwide.
“The truth is everybody needs to level up on telling the story of their impact; how their work correlates to organisational impact – the stuff leadership and boards actually care about. We know this is happening in small pockets, there are some case studies of PR measurement already,” said Gary Preston, CEO & Co Founder at CoverageBook. “But only a few can afford dedicated teams with Python, Excel & Data viz skills to do the job. Our aim is to democratise PR measurement for everyone to start having credible impact stories.”
In addition to simplifying reporting, the tool is designed to help PR practitioners start credible conversations with senior business leaders and budget holders, create graphs that support strategic decision-making, and save time in generating reports.
To try out CoverageImpact, visit – https://coverageimpact.com/
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Travel and Expense Management Software Market Size to Grow USD 15.7 Billion by 2032 at a CAGR of 18.3% | Valuates Reports
BANGALORE, India, Feb. 22, 2024 /PRNewswire/ — Travel and Expense Management Software Market Size, Share, Competitive Landscape and Trend Analysis Report by Deployment Type (On-premise, Cloud), by Organization Size (Large Enterprises, Small and Medium-sized Enterprises), by Industry Vertical (IT and Telecom, BFSI, Manufacturing, Public Sector, Healthcare, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032.
The global travel and expense management software market was valued at USD 3 Billion in 2022, and is projected to reach USD 15.7 Billion by 2032, growing at a CAGR of 18.3% from 2023 to 2032.
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Major Factors Driving the Growth of Travel and Expense Management Software Market
The market for travel and expenditure management software is expanding due in large part to companies’ growing use of digital solutions to automate and streamline their travel and expense management procedures, which boost productivity and cut expenses. Further propelling the market development are the growing requirement for real-time visibility and control over spending, the necessity of regulatory compliance, and the increasing globalization of companies. Additionally, the incorporation of cutting-edge technologies like artificial intelligence (AI), machine learning, and data analytics into these software programmes is propelling market expansion by providing improved user experiences, predictive capabilities, and insights.
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TRENDS INFLUENCING THE GROWTH OF THE GLOBAL TRAVEL AND EXPENSE MANAGEMENT SOFTWARE MARKET:
The global increase in corporate travel activities is a major factor driving the growth of the travel and expense management software market. Businesses are sending more staff on business trips, conferences, and customer meetings as a result of globalization and growing corporate operations. Organizations are adopting travel and expenditure management software solutions to simplify procedures, track spending in real-time, and guarantee compliance with corporate regulations as a result of the spike in corporate travel, which makes effective administration of travel expenses necessary.
Businesses in a variety of sectors are looking for solutions to streamline and automate their spending and travel management procedures in order to increase productivity and cut expenses. Travel & Expense Management Software reduces mistakes and eliminates human data entry duties with features including automatic receipt scanning, automated expense report production, and connectivity with accounting systems.
Accurate tracking and reporting of travel costs is mandated by strict business rules and regulatory regulations. Through the use of travel and expense management software, businesses may make sure that workers follow company policy on spending limits, prompt approval of charges, and tax compliance. The capacity of these software solutions to uphold compliance requirements and enforce policy adherence is what propels their acceptance by companies of all sizes.
Having real-time insight into spending trends and travel expenditures is essential for efficient money management and budgetary selection. Travel and Expense Management Software gives businesses centralized platforms to manage expenditure, keep an eye on bills, and instantly analyze spending patterns. The demand is driven by this real-time insight, which enables firms to find cost-saving possibilities, make educated decisions, and reduce financial risks.
Travel and expense management software is starting to need integration capabilities with current business systems, such as ERP (business Resource Planning) and HR (Human Resources) systems. Processes are streamlined, data accuracy is improved, and data synchronization across various business operations is made possible through seamless integration. Adoption of software solutions with strong integration capabilities is fueled by organizations’ preference for integrated solutions that can combine travel and cost data with other financial and operational data.
The importance of data analytics and reporting tools in travel and expense management software is growing. Companies need to know about vendor performance, policy compliance, and travel expenditure trends in order to drive strategic decision-making and maximize costs. Organizations are able to get meaningful insights from travel and spending data by utilizing advanced analytics tools that are integrated into these software packages. These tools include predictive analytics, data visualization capabilities, and customisable reporting dashboards.
The increasing popularity of cloud-based travel and expense management software can be attributed to advantages including cost-effectiveness, scalability, and flexibility. By doing away with the requirement for on-premises infrastructure, cloud-based solutions enable businesses to access software from any place or device that has an internet connection. Small and medium-sized businesses (SMEs) find cloud-based solutions especially appealing due to their scalability and accessibility.
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TRAVEL AND EXPENSE MANAGEMENT SOFTWARE MARKET SHARE ANALYSIS
In 2022, the market was led by the cloud segment based on deployment mode. This may be ascribed to the rise in developments in cloud-based infrastructure, as cloud technology offers a number of advantages including easy access to diverse apps from far-off locations, virtual reservations, and other creative solutions.
In 2022, the travel and expenditure management software market was dominated by North America. This is explained by the region’s rapid adoption of cloud-based technology. On the other hand, the Asia-Pacific area is growing faster. This is explained by the rise in small-, medium-, and large-scale technological companies in the area.
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Automating Efficiency: Saudi Arabia Warehouse Automation Market Gears Up for 14.2% CAGR, Driven by E-commerce Boom and Vision 2030: Ken Research
GURUGRAM, India, Feb. 22, 2024 /PRNewswire/ — The Kingdom of Saudi Arabia’s warehouse automation market is on a trajectory for exponential growth, fueled by a surging e-commerce sector and ambitious national goals outlined in Vision 2030. Ken Research’s comprehensive report, Saudi Arabia Warehouse Automation Market Outlook to 2028: Automating the Path to Progress, sheds light on this dynamic market, poised for a remarkable 14.2% CAGR in the coming years. This press release summarizes the key findings and offers valuable insights for investors, logistics companies, and technology providers seeking to capitalize on this flourishing landscape.
Several key factors are propelling the Saudi Arabian warehouse automation market towards a bright future:
E-commerce Boom: The exponential growth of e-commerce is driving demand for efficient and high-throughput warehouse operations, necessitating automation solutions. Vision 2030: The government’s ambitious Vision 2030 plan emphasizes logistics sector development, creating a conducive environment for automation adoption. Rising Labor Costs: Increasing labor costs are prompting companies to seek automation solutions for cost-efficiency and productivity gains. Increased Demand for Storage: Growing population and economic diversification are leading to higher storage requirements, making automation crucial for efficient space utilization. Interested to Know More about this Report, Request a Free Sample Report
Ken Research provides a detailed segmentation of the market, allowing you to pinpoint your target audience effectively:
By Technology: Automated Storage and Retrieval Systems (ASRS) dominate the market, followed by Automated Guided Vehicles (AGVs) and robots. By Application: E-commerce and retail sectors are the primary adopters, followed by manufacturing, healthcare, and automotive industries. By Solution Provider: Global players like Honeywell, Siemens, and Vanderlande compete alongside regional players like Fawaz Refrigeration and Nesma & Partners Contracting Company. Competitive Landscape:
The market features a mix of established players and emerging entrants:
Global players: Honeywell, Siemens, Vanderlande, Swisslog, and Knapp. Regional players: Fawaz Refrigeration, Nesma & Partners Contracting Company, Abdullah Hashim Abunayyan Trading Company, and Al-Obeikan Group. Start-ups: Innovative start-ups are offering customized and cost-effective automation solutions. Recent Developments:
Investment in automation: Major logistics companies and government entities are investing heavily in warehouse automation solutions. Focus on cloud-based solutions: Cloud-based warehouse management systems (WMS) are gaining traction for improved scalability and flexibility. Adoption of collaborative robots (cobots): Cobots are increasingly used for tasks requiring human-robot collaboration. Visit this Link :- Request for custom report
The Saudi Arabian warehouse automation market is expected to witness exciting developments in the coming years:
Growing demand for advanced technologies: Technologies like artificial intelligence (AI) and machine learning (ML) will be integrated for optimized operations. Rise of integrated solutions: Integrated automation solutions encompassing hardware, software, and services will gain popularity. Focus on sustainability: Environmentally friendly automation solutions will be increasingly sought after. Challenges to Address:
Despite its promising future, the market faces some hurdles:
High initial investment costs: The upfront costs of automation implementation can be a barrier for some companies. Lack of skilled workforce: Training and upskilling the workforce to operate and maintain automated systems is crucial. Data security concerns: Addressing data security concerns associated with connected automation systems is essential. Why This Report Matters:
This report empowers various stakeholders to navigate the Saudi Arabian warehouse automation market:
Investors: Identify lucrative investment opportunities across different technologies and segments. Logistics companies: Gain insights into emerging trends, optimize their operations, and improve efficiency. Technology providers: Tailor their offerings to meet specific market needs and expand their reach. Government entities: Formulate policies that support market growth and achieve Vision 2030 goals. Request free 30 minutes analyst call
By Product Category
Semi-AutomatedFully AutomatedBy Product Component
Conveyor System/ Sortation SystemAutomated Storage & Retrieval SystemWarehouse Management SystemAMR/AGVOthers (Pick-to-Light and Put-to-Light Systems and automated packaging: wedging, volume reduction, personalization and more)Automatic Identification and Data Capture (AIDC)By Automated Technology
E-CommerceRetail (Supermarkets, Hypermarket, Consumer Durables & More)3PL/LogisticsOthers (Health & Beauty, Pharma, Furnishing)For More Insights On Market Intelligence, Refer To The Link Below: –
Saudi Arabia Warehouse Automation Market
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