Connect with us
Prague Gaming & TECH Summit 2024

Artificial Intelligence

AI in Medical Imaging Market Size to Garner USD 14,271.80 Million by 2032 | Precedence Research

Published

on

ai-in-medical-imaging-market-size-to-garner-usd-14,271.80-million-by-2032-|-precedence-research

OTTAWA, ON, Nov. 30, 2023 /PRNewswire/ — The global AI in medical imaging market size is estimated to garner USD 14,271.80 million by 2032, Increasing from USD 762.84 million in 2022.

The global AI in medical imaging market is expected to expand at the double digit CAGR of 33.1% during the forecast period 2023 to 2032. One of the most promising areas of health and medical innovation is the use of artificial intelligence (AI) in medical imaging.
AI in Medical Imaging Market Statistics by Regions 2022 to 2032
The North America AI in medical imaging market size accounted for USD 379.11 million in 2022 and is projected to reach around USD 5,680.48 million by 2032, expanding at a healthy CAGR of 33.60% from 2023 to 2032.The Europe AI in medical imaging market size accounted for USD 284.14 million in 2022 and is anticipated to reach around USD 3,989 million by 2032, expanding at a healthy CAGR of 32.60% from 2023 to 2032.The Asia Pacific AI in medical imaging market size accounted for USD 219.64 million in 2022 and is anticipated to reach around USD 3,407.61 million by 2032, progressing a healthy CAGR of 34.20% from 2023 to 2032.The LAMEA AI in medical imaging market size accounted for USD 99.27 million in 2022 and is anticipated to reach around USD 1,194.71 million by 2032, progressing a healthy CAGR of 30.10% from 2023 to 2032.Forecasted AI in Medical Imaging Market Size and Y-O-Y (2022-2032)
Forecast Years
Market Size ($ Million)
Y-O-Y %
2022
762.84
26.60 %
2023
982.16
28.75 %
2024
1,275.86
29.90 %
2025
1,674.56
31.25 %
2026
2,212.64
32.13 %
2027
2,964.12
33.96 %
2028
3,984.56
34.43 %
2029
5,448.17
36.73 %
2030
7,508.26
37.81 %
2031
10,350.89
37.86 %
2032
14,271.80
37.88 %
The Full Study is Readily Available | Download the Sample Pages of this Report@ https://www.precedenceresearch.com/sample/2380
Global AI in Medical Imaging Market Revenue Share (%), by Regions 2022-2032
By Region
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
North America
38.46 %
38.60 %
38.74 %
38.88 %
39.02 %
39.16 %
39.30 %
39.44 %
39.58 %
39.67 %
39.80 %
Europe
29.04 %
28.93 %
28.82 %
28.71 %
28.60 %
28.49 %
28.38 %
28.27 %
28.16 %
28.06 %
27.95 %
Asia Pacific
22.18 %
22.36 %
22.55 %
22.73 %
22.91 %
23.09 %
23.28 %
23.46 %
23.64 %
23.72 %
23.88 %
LAMEA
10.32 %
10.11 %
9.90 %
9.68 %
9.47 %
9.26 %
9.04 %
8.83 %
8.62 %
8.55 %
8.37 %
Total
100.00 %
100.00 %
100.00 %
100.00 %
100.00 %
100.00 %
100.00 %
100.00 %
100.00 %
100.00 %
100.00 %
 
By Application
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
CAGR
Digital Pathology
96.04
123.27
159.64
208.88
275.14
367.44
492.39
671.15
922.01
1,267.82
1,742.79
32.70 %
Oncology
85.29
110.15
143.53
188.97
250.47
336.58
453.84
622.45
860.45
1,190.82
1,647.24
33.50 %
Cardiovascular
82.69
106.22
137.67
180.27
237.64
317.61
425.95
581.05
798.88
1,097.48
1,509.20
32.80 %
Neurology
158.98
205.79
268.76
354.63
471.07
634.4
857.28
1,178.30
1,632.30
2,255.51
3,123.75
33.80 %
Lungs (Respiratory System)
64.23
83.12
108.51
143.13
190.07
255.88
345.66
474.94
657.72
910.64
1,261.49
33.70 %
Breast (Mammography)
139.37
180.94
236.99
313.6
417.75
564.15
764.44
1,053.54
1,463.36
2,023.08
2,807.74
34.20 %
Liver (GI)
54.85
70.36
91.06
119.08
156.77
209.23
280.21
381.71
524.08
716.63
983.28
32.60 %
Oral Diagnostics
31.73
40.44
51.99
67.53
88.28
117.01
155.6
210.44
286.82
393.76
537.79
31.70 %
Others
49.66
61.88
77.7
98.46
125.46
161.84
209.19
274.59
362.65
495.15
658.53
28.20 %
Global AI in Medical Imaging Market Revenue, by Application 2022-2032 (US$ Million)
AI-driven medical imaging has transformed the field of medicine by enabling doctors to provide accurate, effective, and customized diagnosis and treatment regimens. Medical imaging technology has reached previously unheard-of levels of speed and accuracy due to advanced deep-learning algorithms, allowing medical practitioners to identify abnormalities and diagnose diseases with accuracy. This progress has led to substantial developments in diagnostic accuracy, treatment efficiency, and overall patient care quality.
AI in medical imaging is increasing the precision of medical diagnosis, screening results, and the capacity to predict disease. AI-powered medical imaging uses powerful processing power and complex algorithms to quickly identify issues, which speeds up diagnosis and action. These technologies provide doctors with quick decision help while analyzing CT scans or X-rays, reducing the time required for image interpretation. AI and machine learning technologies in medical imaging prove crucial for monitoring subtle changes, especially in conditions like brain tumors and cancers where precise treatment methods are important. Incorporating AI enhances precision medicine, enabling differentiation between various types of diseases and predicting survival rates based on accurate measurements of grade and stage.
AI technology reduces medical professionals’ workload by eliminating manual labour, automating the analysis, and minimizing stress. Examining hundreds of diagnostic images, pathologists performing conventional cancer screening faced a huge increase in effort and diagnostic time. The process is simplified by AI-enabled medical imaging technologies, which also address the global scarcity of medical personnel by offering decision help. AI in medical imaging improves patient outcomes through faster diagnosis, more individualized therapies, and accurate medical interventions, particularly in critical care situations such as strokes, when AI techniques speed diagnosis and save time.
Immediate Delivery Available | Buy This Premium Research Report@ https://www.precedenceresearch.com/checkout/2380
The AI in Medical Imaging Market is segmented based on technology, solution, modality, application, end use and region. Factors such as the increasing demand for early disease detection, shortage of healthcare professionals, and growing adoption of AI in healthcare are driving the growth of the market. However, data privacy and security concerns, lack of transparency and explainability, regulatory approval and standardization, clinical validation and acceptance, and high costs are limiting the growth of the market.
Regional Snapshot
Global AI in Medical Imaging Market Revenue, by Regions 2022-2032 (US$ Million)
By Region
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
CAGR
North America
293.39
379.11
494.27
651.07
863.37
1,160.75
1,565.93
2,148.76
2,971.77
4,106.57
5,680.48
33.60 %
Europe
221.53
284.14
367.7
480.77
632.82
844.48
1,130.82
1,540.20
2,114.33
2,904.27
3,989.00
32.60 %
Asia Pacific
169.2
219.64
287.64
380.59
506.92
684.49
927.41
1,278.00
1,774.95
2,455.18
3,407.61
34.20 %
LAMEA
78.73
99.27
126.25
162.14
209.54
274.4
360.4
481.21
647.21
884.86
1,194.71
30.10 %
 
North America dominated the market in 2022, holding a major share and is expected to grow rapidly due to the rising adoption of AI in Medical Imaging and technological advancements in the market.  For instance, In the U.S., Medic Vision and Gateway Diagnostic Imaging have completed an innovative research project aimed at improving MRI efficiency using artificial intelligence (AI) in medical imaging. Gateway Diagnostic Imaging, a leading provider with 11 facilities throughout North Texas, requires increasing efficiency and productivity in the face of rising MRI scan demand.
Gateway adopted new brief scanning protocols in conjunction with Medic Vision’s iQMR, an AI-assisted iterative image reconstruction software system, resulting in images of equal or higher quality to original protocols. This strategic shift, integrated with an updated scheduling system, increased MRI productivity by 22%, allowing for an average of 4 more patients per day per scanner. Thus, this project’s success reflects the growing importance and positive impact of AI adoption.
You can place an order or ask any questions, please feel free to contact at [email protected] | +1 650 460 3308
AI Technology Insights:
The deep learning segment is expected to grow faster during the forecast period. Deep learning has grown into an adverse impact in medical imaging with unparalleled potential to improve the accuracy of diagnoses, optimize processes, and personalize therapies. Its ability to analyze large datasets of medical images, such as X-rays, CT scans, and MRIs, allows it to detect minute abnormalities and patterns that human radiologists can overlook. In cancer diagnosis, deep learning algorithms outperform traditional methods, detecting cancer cells in tissue samples with greater accuracy, leading to earlier diagnoses and improved treatment outcomes. Similarly, in neurological conditions, these algorithms excel in detecting subtle changes in brain scans, assisting in the early diagnosis of diseases like as Alzheimer’s and Parkinson’s.
Solution Insights:
The software tools/ platforms segment of the AI in medical imaging market is the fastest-growing segment, driven by increasing demand for AI-powered solutions, advancements in AI technology, and the growing availability of AI-specific software tools. These software tools and platforms are making AI-powered solutions more accessible and affordable to healthcare providers, which is accelerating the adoption of AI in medical imaging. This leads to improved diagnostic accuracy, streamlined workflows, and personalized treatment plans for patients.
Personalized your customization here: https://www.precedenceresearch.com/customization/2380
Market Dynamics
Driver: Advancement of AI for Enhanced Clinical Efficiency
The introduction of artificial intelligence (AI) into medical imaging is being influenced by a critical need for increased clinical efficacy and efficiency. The rapid expansion of radiological imaging data, surpassing the availability of adequately trained readers, has created a major disparity. Additionally, a decrease in imaging payments has prompted healthcare providers to improve productivity, resulting in an enormous rise in radiologists’ workloads. As a result of these constraints, where radiologists have to analyze an image every 3-4 seconds throughout an 8-hour workday, errors become a necessary consequence of this limited environment.
The effortless integration of AI components into the imaging workflow is being strategically pushed to overcome these issues and maximize the productivity of medical imaging. This integration aims to reduce the workload on radiologists by providing pre-screened images and identified features, reducing manual input, and minimizing the potential for errors. Advances in technology connected to artificial intelligence (AI) in medical imaging are being developed by proactive initiatives and policies. The focus includes beyond mere lesion detection, focusing on the consistent selection of clinically meaningful endpoints such as survival, symptoms, and the imperative need for treatment. Thus, the use of AI in medical imaging represents a significant change in the direction of better clinical results while addressing the challenges presented by increasing workloads and changing payment models.
Restraint: High cost and regulatory compliance
The use of artificial intelligence in medical imaging involves high initial costs associated with technology procurement, infrastructure upgrades, and personnel education. Demonstrating the long-term economic benefits and clinical impact is essential to overcome resistance based on cost considerations. Moreover, the regulatory framework for artificial intelligence in healthcare is changing, and maintaining compliance with several regulatory frameworks is a major issue. It is crucial for universal acceptability to achieve consistency in AI algorithms, validation methods, and ethical principles across diverse areas and healthcare systems.
Opportunity:
The increasing implementation of AI imaging solutions in surgical workflows presents transformative opportunities within the medical imaging market. The National Health System (NHS) in the United Kingdom and a partner firm have collaborated to generate 3D reconstructions using AI algorithms, starting with pre-operative planning, and utilizing traditional CT or MRI images. Surgeons utilize these reconstructions to assess a patient’s anatomy, enhancing their strategic planning. Artificial intelligence (AI) tools, such as OrthoGrid’s surgical navigation, use powerful computers to evaluate images in real-time during surgery. This helps surgeons by giving them immediate feedback, lowering errors, and improving patient outcomes.
Theator’s Surgical Intelligence Platform uses artificial intelligence (AI) to evaluate surgical footage captured after surgery, providing insightful information on procedural difficulties and areas for improvement. Post-surgery, Theator’s Surgical Intelligence Platform utilizes AI to analyze recorded surgical videos, generating valuable insights into procedural challenges and opportunities for improvement. These advancements underscore the pivotal role of AI in reshaping surgical practices and fostering a new era of precision and consistency in medical imaging applications.
Browse More Insights:
Medical Imaging Displays Market: The global medical imaging displays market size was valued at USD 5.24 billion in 2022 and it is expected to hit around USD 9.14 billion by 2032, expanding at a CAGR of 5.72% from 2023 to 2032.
Medical Imaging Reagents Market: The global medical imaging reagents market size was exhibited at USD 16 billion in 2022 and is expected to hit around USD 30.17 billion by 2032, poised to grow at a projected CAGR of 6.6% from 2023 to 2032.
Medical Imaging Outsourcing Market: The global medical imaging outsourcing market size was valued at USD 8.26 Billion in 2022 and is expected to reach USD 11.92 Billion by 2032, with a compound annual growth rate (CAGR) of 4% during the forecast period 2023 to 2032.
Artificial Intelligence (AI) in Biopharmaceutical Market: The global artificial intelligence (AI) in biopharmaceutical market size was estimated at USD 0.86 billion in 2022 and is projected to hit around USD 14.07 billion by 2032, registering a CAGR of 32.3% during the forecast period from 2023 to 2032.
Radiopharmaceuticals Market: The global radiopharmaceuticals market size surpassed USD 5.2 billion in 2022 and is projected to hit around USD 13.67 billion by 2032, registering a CAGR of 10.2% during the forecast period 2023 to 2032.
Generative AI in Biology Market: The global generative AI in biology market size was estimated at USD 74 million in 2022 and it is projected to reach around USD 363.37 million by 2032, growing at a CAGR of 17.3% during the forecast period 2023 to 2032.
Point-of-Care Medical Imaging Market: The global point-of-care medical imaging market size was exhibited at USD 3.72 billion in 2022 and it is expected to hit around USD 5.9 billion by 2032, growing at a CAGR of 4.72% during the forecast period from 2023 to 2032.
Generative AI in Medicine Market: The global generative AI in medicine market size was valued at USD 501.06 million in 2022 and it is expected to hit around USD 21,586.75 million by 2032, expanding at a CAGR of 45.69% over the forecast period from 2023 to 2032.
Healthcare Information Systems Market: The global healthcare information systems market was estimated at USD 296 billion in 2022 and is expected to hit around US$ 641.98 billion by 2032, poised to grow at a CAGR of 8.10% from 2023 to 2032.
Healthcare Informatics Market: The global healthcare informatics market size is expected to be worth around US$ 104.80 billion by 2032 from at US$ 33 billion in 2022, expanding growth at a CAGR of 12.30% from 2023 to 2032.
Recent Developments
In May 2023, Royal Philips, a major player in health technology, announced the Philips CT 3500, an innovative CT system aimed to meet the needs of regular radiography and high-volume screening campaigns. Using powerful AI technology, this system combines a number of features aimed at image reconstruction and process optimization. These aspects help to ensure consistent, quick, and high-quality imaging, allowing physicians to make confident diagnosis and maximize return on investment. The Philips CT 3500 is designed specifically for demanding, high-volume care scenarios.In April 2023, Medical artificial intelligence (AI) solution company Vuno received a US patent for its AI-based medical image analysis technology. This patent pertains to a technology aimed at simplifying the process of correcting lesion areas identified by medical personnel while examining medical images such as X-rays, magnetic resonance imaging scans, and computerized tomography (CT) scans in clinical environments.In June 2023, GE HealthCare announced officially received FDA clearance and introduced Sonic DL, an advanced deep learning technology engineered to significantly speed up the image acquisition process in magnetic resonance imaging (MRI).In Oct 2022, Google Cloud announced Medical Imaging Suite, a new technology it says can help with accessibility and interoperability of radiology and other imaging data.Market Key Players:
Agfa-Gevaert Group/Agfa HealthCareArterysAIAZmedButterfly NetworkCaption HealthCellmatiQdentalXraiDigital DiagnosticsEchoNousGLEAMERHeartVistaiCADLunitMediaireMEDONanox ImagingPaige AIPerimeter Medical Imaging AIPredible Health1QB Information TechnologyQure.aiQuantibQLARITY IMAGINGQuibimRenalytixTherapixelUltromicsViz.aiVUNOKey Market Segments
By AI Technology
Deep LearningNatural Language Processing (NLP)OthersBy Solution
Software Tools/ PlatformServicesIntegrationDeploymentBy Modality
CT ScanMRIX-raysUltrasound ImagingNuclear ImagingBy Application
Digital PathologyOncologyCardiovascularNeurologyLung (Respiratory System)Breast (Mammography)Liver (GI)Oral DiagnosticsOtherBy End Use
Hospitals and ClinicsResearch Laboratories and Diagnostic CentersOthers (Ambulatory Surgical Centres, Intensive care at home, etc.)By Geography
North AmericaEuropeAsia-PacificLatin AmericaMiddle East & Africa (MEA)Immediate Delivery Available | Buy This Premium Research Report@ https://www.precedenceresearch.com/checkout/2380
You can place an order or ask any questions, please feel free to contact at [email protected] | +1 650 460 3308
Unlocking Market Insights through Data Excellence 
The “Precedence Statistics” flexible dashboard is a powerful tool that offers real-time news updates, economic and market forecasts, and customizable reports. It can be configured to support a wide range of analysis styles and strategic planning needs. This tool empowers users to stay informed and make data-driven decisions in various scenarios, making it a valuable asset for businesses and professionals looking to stay ahead in today’s dynamic and data-driven world. 
Access our Premium Real Time Data Intelligence Tool, Visit: www.precedencestatistics.com
About Us
Precedence Research is a worldwide market research and consulting organization. We give an unmatched nature of offering to our customers present all around the globe across industry verticals. Precedence Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semi-conductors, chemicals, automotive, and aerospace & defense, among different ventures present globally.
Web: https://www.precedenceresearch.com
Our Blogs:
https://www.towardshealthcare.com
https://www.towardspackaging.com
For Latest Update Follow Us:
Linkedin | Facebook | Twitter
Logo: https://mma.prnewswire.com/media/2264617/Precedence_Research_Logo.jpg

View original content:https://www.prnewswire.co.uk/news-releases/ai-in-medical-imaging-market-size-to-garner-usd-14-271-80-million-by-2032–precedence-research-302002367.html

Continue Reading

Artificial Intelligence

Two thirds of PR Pros can’t prove their work helps their business or client: CoverageBook

Published

on

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.
Introducing CoverageImpact
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/ 

View original content:https://www.prnewswire.co.uk/news-releases/two-thirds-of-pr-pros-cant-prove-their-work-helps-their-business-or-client-coveragebook-302069345.html

Continue Reading

Artificial Intelligence

Travel and Expense Management Software Market Size to Grow USD 15.7 Billion by 2032 at a CAGR of 18.3% | Valuates Reports

Published

on

travel-and-expense-management-software-market-size-to-grow-usd-157-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.
Claim Your Free Sample Now: https://reports.valuates.com/request/sample/ALLI-Manu-0L95/Travel_and_Expense_Management_Software_Market 
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.
Unlock Insights: View Full Report Now! https://reports.valuates.com/market-reports/ALLI-Manu-0L95/travel-and-expense-management-software 
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.
Own It Today – Buy Now! https://reports.valuates.com/api/directpaytoken?rcode=ALLI-Manu-0L95&lic=single-user 
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.
Purchase Regional Report: https://reports.valuates.com/request/regional/ALLI-Manu-0L95/Travel_and_Expense_Management_Software_Market 
Key Players:
AvidXchange IncorporatedORACLE CORPORATIONKDSInterplx IncApptricity Corp.ExpensifyTripActionsSAP ConcurCoupa Software Inc8commonPurchase Chapters:
https://reports.valuates.com/request/chaptercost/ALLI-Manu-0L95/Travel_and_Expense_Management_Software_Market 
SUBSCRIPTION
We have introduced a tailor-made subscription for our customers. Please leave a note in the Comment Section to know about our subscription plans.
DISCOVER MORE INSIGHTS: EXPLORE SIMILAR REPORTS!
–  Travel Medical Service Market
–  Travel and Expense Management Systems Market
–  Travel and Expense Management (TEM) Solution Market
–  T&E (Travel and Expense) Tool Market
–  Expense Reporting Software Market
–  Visa Outsourcing Services market was valued at USD 2040.8 Million in 2023 and is anticipated to reach USD 4476.7 Million by 2030, witnessing a CAGR of 9.3% during the forecast period 2024-2030.
–  Oilfield Traveling Block Market
–  Online Travel Market
–  Travel Retail Market
–  Corporate Travel Security Market
–  Italy Travel Insurance Market
–  Online Travel Booking Platform market size is expected to reach USD 1018060 Million by 2029, growing at a CAGR of 8.4% from 2023 to 2029.
–  Travel Insurance Market
–  Luxury Travel Market
–  Online Travel Booking Platform market size is expected to reach USD 1018060 Million by 2029, growing at a CAGR of 8.4% from 2023 to 2029.
–  Traveler Security Service Market
–  Traveling-wave Tube Amplifier Market
–  Personal Travel Insurance Market
–  Sustainable Traveling Market
–  Business Travel Market
–  Tourism Insurance Market
–  Hotel and Other Travel Accommodation Market
–  Incentive Travel Market
–  Medical Tourism Market
–  Senior Tourism Market
–  In-flight Entertainment & Connectivity Market
–  Immigration consulting services market was valued at USD 14.2 Billion in 2022 and is anticipated to reach USD 21.1 Billion by 2029, witnessing a CAGR of 5.73% during the forecast period 2023-2029.
–  e-passport market was valued at USD 28.8 Billion in 2022, and is projected to reach USD 256.2 Billion by 2032, growing at a CAGR of 24.8% from 2023 to 2032.
–  Honeymoon Travel market size is expected to reach USD 1413 Million by 2029, growing at a CAGR of 5.5% from 2023 to 2029.
DISCOVER OUR VISION: VISIT ABOUT US!
Valuates offers in-depth market insights into various industries. Our extensive report repository is constantly updated to meet your changing industry analysis needs.
Our team of market analysts can help you select the best report covering your industry. We understand your niche region-specific requirements and that’s why we offer customization of reports. With our customization in place, you can request for any particular information from a report that meets your market analysis needs.
To achieve a consistent view of the market, data is gathered from various primary and secondary sources, at each step, data triangulation methodologies are applied to reduce deviance and find a consistent view of the market. Each sample we share contains a detailed research methodology employed to generate the report. Please also reach our sales team to get the complete list of our data sources.
YOUR FEEDBACK MATTERS: REACH OUT TO US!
Valuates [email protected] For U.S. Toll-Free Call 1-(315)-215-3225WhatsApp: +91-9945648335Website: https://reports.valuates.comBlog: https://valuatestrends.blogspot.com/Pinterest: https://in.pinterest.com/valuatesreports/Twitter: https://twitter.com/valuatesreportsFacebook: https://www.facebook.com/valuatesreports/https://www.facebook.com/valuateskorean https://www.facebook.com/valuatesspanish https://www.facebook.com/valuatesjapanese 
Logo: https://mma.prnewswire.com/media/1082232/Valuates_Reports_Logo.jpg

View original content:https://www.prnewswire.co.uk/news-releases/travel-and-expense-management-software-market-size-to-grow-usd-15-7-billion-by-2032-at-a-cagr-of-18-3–valuates-reports-302068989.html

Continue Reading

Artificial Intelligence

Automating Efficiency: Saudi Arabia Warehouse Automation Market Gears Up for 14.2% CAGR, Driven by E-commerce Boom and Vision 2030: Ken Research

Published

on

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. 

Market Overview: 
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
Segmentation Spotlight: 
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
Future Outlook: 
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
Taxonomy
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
HardwareSoftwareBy End-User
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
Related Reports by Ken Research: –
MDO PET Films Market in UAE Outlook to 2027 Driven by increasing population, food and beverage demand and pharmaceutical consumption
Rise in cross-border shopping, with 58% of online purchases made from overseas vendors due to reliable shipping methods, and favorable pricing are the key drivers of e-commerce in the country. The growth of e-commerce in the UAE will boost the demand for packaging materials, especially tapes which are manufactured via MDO PET Films.
UAE Movers Market Outlook to 2028 Driven by Real Estate and Infrastructure Development and Growing Expatriate Population in the Country
Future market size for UAE Movers set for substantial growth from 2022 to 2028. Launch of over 10,000 new townhouses and villas in May 2022, with handover expected by 2025, indicating a surge in property developments and increased demand for moving services. Ongoing urban development projects, including new residential communities and commercial centers, anticipated to boost the demand for professional movers.
South Korea Warehouse Automation Market Outlook to 2027 Driven By increasing demand from end-user industries and factors such as increasing labor cost and labor shortage in the country
According to Ken Research estimates, the Market Size of South Korea Warehousing has shown increasing trend from 2019 to 2022. South Korea’s strategic location as a gateway between Europe, Asia, and Africa makes it an attractive hub for trade. The country has been actively promoting foreign trade and industrialization, attracting international companies to set up manufacturing facilities and distribution centers. This leads to an increased demand for warehousing services to support import, export, and local supply chains.
Follow Us –
LinkedIn | Instagram | Facebook | Twitter | YouTube
Contact Us:-Ken Research Private LimitedAnkur Gupta, Director Strategy and [email protected]+91-9015378249
Logo: https://mma.prnewswire.com/media/1954972/3782349/Ken_Research_Logo.jpg

View original content:https://www.prnewswire.co.uk/news-releases/automating-efficiency-saudi-arabia-warehouse-automation-market-gears-up-for-14-2-cagr-driven-by-e-commerce-boom-and-vision-2030-ken-research-302068838.html

Continue Reading

Trending