Artificial Intelligence
Nanjing Oversubscription Digital Technology Co, Ltd.: When New Regulations Meet New Regtech Companies
Digital transformation, strengthening of financial supervision, data security legislation… In this era, regulatory compliance tech companies are growing strongly in China.
According to statistics, there were about 120 financial regulatory policy releasing in the first quarter of 2021 (not limited to specific policy documents), of which 30 were from central banks. 40 from China Banking and Insurance Regulatory Commission, 35 from China Securities Regulatory Commission and 15 from others. And the overall policy tone is strict (compared with the same period last year). Financial regulation in 2021 kicked off with a “iron-fist”.
More and more companies desire to use latest technology to serve their own regulatory compliance needs. Focusing on these needs, many start-ups provide more data and effective solutions for regulatory compliance, with the goal of simplifying and optimizing the management activities of legal compliance, risk, financial statements, and data. Such companies are called regtech companies, which belong to a larger group – fintech companies.
The relevant data shows that a total of 317 regtech companies have received more than 2.3 billion US dollars in funding in the past five years. These regtech start-ups cover financial services, such as supplier risk management, cybersecurity, environmental protection and many other fields.
Under this background, the Nanjing Oversubscription Digital Technology Co, Ltd. came into being. In the face of the changing regulation environment, private, brokers, banks and other finance institutions see the compliance costs and labor costs increasingly heavy. As a solution provider, Nanjing Oversubscription Digital Technology Co, Ltd combines artificial intelligence, blockchain, cloud and big data to help transaction monitoring, auditing for finance institutions, so as to reduce costs, enhance regulatory compliance, and improve process efficiency. Mr. Yang Xiuyi, CEO of Oversubscription Digital, talked to FOF Global to share the story behind Nanjing Oversubscription Digital Technology. Here is the full text of the conversation:
“Nanjing Oversubscription Digital Technology Co, Ltd is launched ahead of time. By the time expected regulations arrive, we will have a mature product ready.”
FOF Global: Would you please briefly introduce Nanjing Oversubscription Digital Technology, including the main products and services it provides.
Xiuyi Yang: Nanjing Oversubscription Digital Technology focuses on technical solutions for regulatory compliance in the entire financial industry.
In the initial stage, we focus on regulatory compliance in private equity investment. When the underlying technology develops and the client group expands, we will slowly step forward to serve other licensed financial institutions, such as securities companies, banks, etc. But at present, our products are all related to private equity institutions. There are three products:
The first is our virtual cloud disk (VDR) product, which mainly provides data security and privacy for investment managers’ fund-raising and their portfolio companies’ financing processes. It has functions such as giving different level of permissions to different characters, adding digital encryption watermarks with one click, sharing WeChat limited-time invitation links, and blockchain tracing;
The second is a supportive tool in audit. It’s an intelligent platform for due diligence and audit, and provides intelligent analysis of “invoice-level granularity” data. It provides financial analysis and risk control system for enterprises and investment institutions to improve the level of enterprise internal control and risk monitoring;
The third is an AI compliance assistant for private equity funds. It synthesizes public data from private equity fund regulators, legal authority’s supervision and punishment data, case data, etc. by using AI semantic analysis and mapping knowledge domain technology. Then, cross-dimensional content query, association and analysis can be realized. It provides an “AI brains” for industry compliance regulators to help improve work accuracy and efficiency.
In strategic partnership with a well-known private equity-focused media platform in Beijing, we can cover a wide range of potential customers. At the same time, we have also formed a team consisted of former technicians from Huawei and former R&D members from Nanjing University’s Institute of Intelligence Research. So we have industry resources, professional know-how, and innovative technology.
FOF Global: How do you obtain data and ensure data security when providing service?
Xiuyi Yang: For the virtual cloud disk product, we have selected two leading public cloud partners, Alibaba Cloud and Amazon AWS, respectively, and we chose to provide services for top enterprises who are of better tech DNA. Some clients, such as China’s government-guided funds, have higher requirements for data security, in which cases we offer them options to install the system on their own servers to ensure data storage and security.
As for the audit tool, the financial data it collects during due diligence research is directly used for analysis. In the end, only the analysis reports are kept, and the original financial data are dismissed. I want to clarify that the analysis reports are not open online either – they will only be given to our clients to do the audit together with us. Some targeted enterprises do not have all the financial documents there, and our product can search online systems and fill the data gap by technical means, including invoice data at the sales and purchase ends of the targeted company. At present, even the Big Four accounting firms can not cover as much as we could.
The AI compliance assistant acquire data in two aspects – one is static data, that is obtained from regulatory texts such as laws and regulations; the other is dynamic data, that is extracted by looking at the problems encountered by all companies in the process of compliance and the answers to those questions.
I want to add up that a top Chinese cybersecurity-focused company will provide us with product testing and security support. The company find out our product vulnerabilities by technical means, and then give tech-enabled solutions to make our products more complete and safer.
“I believe that China, in its rise, will become one of the major financial forces in the world and play a more important role than it does today. So I returned to work in the financial sector, which is crowded with capital and cutting-edge technology application opportunities – to start up my own business.”
FOF Global: From what I’ve known, your education background and work experience are quite outstanding. You graduated from Nanyang Technical University in Singapore, studied at Stanford University in the United States as an exchange student, worked in Deloitte as a senior consultant for risk advisory, and played the role of CEO’s executive assistant in a Hongkong listed company. Why did you choose to let go all this and start your own business from scratch?
Xiuyi Yang: Entrepreneurship has long been an organic part of my career planning, and all my past work experience is to serve that purpose.
I had several years’ work experience in the field of Internet-based digital transformation, and later went to Deloitte’s risk advisory, where I learned a lot about corporates’ strategy, organization, management and control, human resource, finance and so on. And that means companies at all stages of life cycle: start-ups, growth, Pre-IPO, listed companies and multinational enterprises. So I genuinely learned about all kinds of business organizations.
Later, I worked as CEO’s executive assistant in a listed company in Hong Kong. That is a company engaged in informatization and supply chain finance, with annual operating revenue of about 80 billion Hong Kong dollars.
And then an opportunity just showed up – that is China greatly strengthened its financial scrutiny, bringing window opportunities in the field of regulatory compliance. This niche market was immature and yet to undergo digital transformation, which is exactly the field I used to be familiar with. So I resolutely choose to start a business based on my past experience, in an attempt to utilize capital and cutting-edge technology to create value and provide service.
“This venture is to integrate Singapore’s advanced concepts, its global perspective and the cutting-edge technology into a big Chinese financial service market.”
FOF Global: It is reported that your venture is located in Singapore Nanjing Eco Hi-Tech Island. Why here?
Xiuyi Yang: If you look at the data, Shanghai, Beijing, Jiangsu and Zhejiang are among the top five places that Chinese investment companies favor to register in – topping the list is Jiangsu, and Nanjing is just in Jiangsu. So our customers are here, which means we’re closer to the market if the company is registered here. Also, Nanjing has its unique advantages of dense universities and talents.
Another reason is that I graduated from Nanyang Technological University in Singapore, and this is the Singapore Nanjing Eco Hi-Tech Island, a sci&tech innovation center funded by Nanjing and Singapore. The high-tech island is jointly initiated by the CPC Jiangsu Provincial Committee, the Jiangsu Provincial Government and the Ministry of Trade and Industry of Singapore. It’s an Important regional economic cooperation project under the Singapore–Jiangsu cooperation framework. For your information, we have also set up an office in a fintech incubator in Singapore.
Last but not least, in Nanjing there is the Linguistic Intelligence and Knowledge Engineering Research, Nanjing China (Like Research) – which is also our shareholder – jointly established by Nanjing University and the National University of Singapore. The former of the two universities has the cutting-edge artificial intelligence technology, while the latter has rich sci&tech research resources. Like Research with its technology and us with our commercial solutions create perfect synergy.
Other candidate cities are Wuhan, Shenzhen and Xi’an, in which we will set up offices next.
FOF Global: What helps can Singapore provide for your venture?
Xiuyi Yang: Singapore is one of the most important financial centers in the world. Its financial regulation is developed and the financial concepts are advanced. It has set up an important example for other countries to learn from. And Singapore’s financial companies are tech-enabled and data-driven.
China is actually not bad at the technical level, but China can learn from Singapore about the future form of our products and services. Learning from Singapore’s ideas, application methods and product forms, this venture is to integrate Singapore’s advanced concepts, its global perspective and the cutting-edge technology into a big Chinese financial service market.
Singapore will be our first stop on the way to a multinational company. When the business has reached a certain stage, we want to explore opportunities in Singapore, Southeast Asia and countries along the Belt and Road Initiative. Over the past few decades, other countries have formed a stable global network and influence in the financial field. I believe that in the process of China’s rise, excellent financial services and technology companies will also emerge, playing a more important role globally.
FOF Global: Who are the current shareholders of Nanjing Oversubscription Digital Technology?
Xiuyi Yang: First of all I want to say that we know our strengths and weaknesses very well. Technology and its commercial application are the two key problems we’re faced with, and that decides what types of shareholders we need.
At the outset of establishing Nanjing Oversubscription Digital Technology, Like Research was introduced as a strategic shareholder, because it has advanced artificial intelligence technologies and R&D capabilities – that solves our first problem.
The second problem as I mentioned is commercial application – how to turn technology into products and solutions. In that regard, we have found a R&D team in Nanjing as the founding shareholder, composed of senior developers and technicians who have more than 15 years of work experience in Huawei and national informatization enterprises.
In addition, a Singapore-based regtech company is also on the list of our shareholders. Last year, it received S$2 million in financing. It also feels that this service model has large market in both Singapore and China. We also want to cooperate with the company further in underlying technology, sales channel and staff teams in the future.
FOF Global: What insights do you have into the Nanjing Oversubscription Digital Technology Co, Ltd and the financial industry?
Xiuyi Yang: I believe that the Chinese financial industry, including the investment environment, will get better and better. Before this great development, a sound, mature, established and manageable regulatory mechanism is needed, and the relevant institutions in the financial industry need to pay more and more attention to compliance in order to make better progress and support the country’s economic growth.
In the short term, there will be a rapid increase of market demand in financial and regulatory fields in China. That indicates a huge entrepreneurial opportunity.
SOURCE Nanjing Oversubscription Digital Technology Co, Ltd.
Artificial Intelligence
ROLLER and Amusement Connect Announce Integration to Streamline Cashless Card Operations
New partnership enhances guest experiences and operational efficiency across attraction venues
AUSTIN, Texas, May 3, 2024 /PRNewswire/ — In an effort to improve the guest experience and streamline operations for attractions venues, ROLLER, a global leader in leisure and attractions technology, has joined forces with Amusement Connect, a recognized leader in cashless card operations. This strategic partnership delivers an integration that aims to streamline the arcade experience for operators and guests alike, providing a more efficient way for entertainment venues to operate.
Through this integration, ROLLER and Amusement Connect enable the sale, top-up, and balance checks of cashless cards directly from ROLLER’s point-of-sale devices, simplifying the management of pay-to-play attractions. This move is expected to enhance operational efficiency and improve guest satisfaction by making sales smoother and more convenient. The integration also simplifies reporting by automatically recording every purchase of a cashless card, saving venue operators time and ensuring accurate tracking of purchases.
Both companies leverage cloud-based technology to ensure that venues can operate without the need for expensive servers, with the promise of continuous updates to keep the systems equipped with the latest features and improvements. This integration also introduces the option for guests to purchase game cards online through ROLLER’s online checkout, a feature designed to make the check-in process more efficient and increase average transaction values.
“Amusement Connect and ROLLER have a shared commitment to helping attractions businesses deliver exceptional guest experiences. So, we’re thrilled to partner with Amusement Connect on this integration – a trailblazing company known for great customer support and providing innovative tech. This isn’t just about upgrading our technology—it’s delivering on our promise to make every guest experience smoother and every operator’s day a bit easier,” explained Luke Finn, CEO and Founder of ROLLER.
“As we continue to innovate and collaborate with industry leaders like ROLLER, we’re thrilled to see the tangible benefits our integration brings to our customers. Together, we’re not just transforming transactions; we’re elevating experiences and driving profitability with every interaction,” commented Frank Licausi, Co-Owner of Amusement Connect.
This partnership between ROLLER and Amusement Connect represents a significant step towards more streamlined operations in the amusement industry. It offers a blend of efficiency and convenience aimed at improving the way entertainment venues operate and enhancing the overall guest experience. For more information on this integration and how it can benefit your venue, contact ROLLER or Amusement Connect directly.
About ROLLER
ROLLER is the cloud-based venue management platform for the modern attraction, purpose-built to remove friction from the guest experience at every touchpoint. Their all-in-one platform simplifies its customers’ business processes, improving efficiency and maximizing revenue. ROLLER’s comprehensive solution includes: Online Checkout & Ticketing, Point-of-Sale, Integrated Payments, Memberships, Gift Cards, Waivers, Self-Serve Kiosks, Cashless Wallets, the Guest Experience Score®, and more. To learn more, visit roller.software.
About Amusement Connect
Founded by Frank Licausi and John Tarpley in 2017, our comprehensive game card system, accompanied by a variety of products, provides a complete overview on games and attractions in settings like bars, arcades, FEC’s, and multi-location entertainment centers. As operators and industry experts, we bring innovation, value, and the best possible experiences to entertainment venues with our award-winning game card system. Bringing you more at amusementconnect.com.
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Artificial Intelligence
Computer Vision in Healthcare Market Worth $11.5 billion | MarketsandMarkets™
CHICAGO, May 3, 2024 /PRNewswire/ — Computer Vision in Healthcare Market in terms of revenue was estimated to be worth $3.9 billion in 2024 and is poised to reach $11.5 billion by 2029, growing at a CAGR of 24.0% from 2024 to 2029 according to a new report by MarketsandMarkets™.
The market’s expansion is fueled by the exponential growth of medical imaging data which necessitates efficient analysis methods, where computer vision techniques excel in automating and enhancing diagnostic processes. Further, the demand for improved patient care and outcomes fuels the adoption of AI-driven solutions, empowering healthcare providers with precise tools for diagnosis, treatment planning, and monitoring. Nevertheless, ensuring the accuracy and reliability of computer vision algorithms remains a significant challenge, especially in complex medical imaging tasks where errors can have critical consequences. Additionally, the regulatory landscape surrounding AI-based medical devices is evolving, requiring stringent validation and approval processes, which can impede the timely deployment of innovative solutions. Thus, restraining the market.
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Browse in-depth TOC on “Computer Vision in Healthcare Market”
505 – Tables55 – Figures379 – Pages
Computer Vision in Healthcare Market Scope:
Report Coverage
Details
Market Revenue in 2024
$3.9 billion
Estimated Value by 2029
$11.5 billion
Growth Rate
Poised to grow at a CAGR of 24.0%
Market Size Available for
2022–2029
Forecast Period
2024–2029
Forecast Units
Value (USD Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
Product & Service, Type, Applications, End User
Geographies Covered
North America, Europe, Asia Pacific, Latin America and Middle East and Africa
Report Highlights
Updated financial information / product portfolio of players
Key Market Opportunities
Computer vision solutions for healthcare that are hosted in the cloud
Key Market Drivers
The healthcare sector is experiencing a growing need for computer vision systems
“The largest share in the computer vision in healthcare market, based on type, was attributed to the PC-based computer vision systems segment in 2023.”
The PC-based computer vision systems segment holds the largest market share in the computer vision in healthcare market in 2023. The growth of this segment is propelled by factors such as PCs offering robust computational power, enabling real-time processing of complex algorithms required for tasks like medical image analysis. Also, PCs provide flexibility and scalability, allowing users to customize hardware configurations and software solutions according to specific requirements. This versatility makes them adaptable to various healthcare settings, from small clinics to large hospitals.
“In 2023, the patient activity monitoring/fall prevention segment demonstrated the most significant growth in the computer vision in healthcare market based on hospital management by type.”
The patient activity monitoring/fall prevention segment is expected to experience the highest growth in the computer vision in healthcare market. The key drivers for this growth include the aging population worldwide that has led to an increased focus on elderly care and fall prevention initiatives. Computer vision systems offer non-intrusive and continuous monitoring of patients’ movements, enabling early detection of potential fall risks and timely intervention to prevent accidents. Also, the growing adoption of wearable devices and smart sensors integrated with computer vision technology allows for seamless monitoring of patients’ activities both inside healthcare facilities and at home. This remote monitoring capability enhances patient safety and independence while reducing the burden on caregivers and healthcare resources.
“North America accounted for the largest share of the healthcare simulation market in 2023.”
In 2023, North America held the largest share in the computer vision in healthcare market, with Europe and Asia Pacific following. The significant presence of North America in the global market can be attributed to factors such as region’s strong focus on improving patient outcomes and reducing healthcare costs which incentivizes the integration of computer vision solutions to streamline processes, enhance diagnostics, and optimize treatment pathways.
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Computer Vision in Healthcare Market Dynamics:
Drivers:
The healthcare sector is experiencing a growing need for computer vision systemsRestraints:
The resistance of medical practitioners towards adopting AI-based technologiesOpportunities:
Computer vision solutions for healthcare that are hosted in the cloudChallenge:
Lack of curated dataKey Market Players of Computer Vision in Healthcare Industry:
The key players functioning in the computer vision in healthcare market include NVIDIA Corporation (US), Intel Corporation (US), Microsoft Corporation (US), Advanced Micro Devices, Inc. (US), Google, Inc. (US), Basler AG (Germany), AiCure (US), iCAD, Inc. (US), Thermo Fisher Scientific Inc. (US), SenseTime (China), KEYENCE CORPORATION (Japan), Assert AI (India), Artisight (US), LookDeep Inc. (US), care.ai (US), CareView Communications (US), VirtuSense (US), Teton (Denmark), viso.ai (Switzerland), NANO-X IMAGING LTD. (Israel), Comofi Medtech Pvt. Ltd. (India), Avidtechvision (India), Roboflow, Inc. (US), Optotune (US) and CureMetrix, Inc. (US).
The break-down of primary participants is as mentioned below:
By Company Type – Tier 1: 45%, Tier 2: 30%, and Tier 3: 25%By Designation – C-level: 42%, Director-level: 31%, and Others: 27%By Region – North America: 32%, Europe: 32%, Asia Pacific: 26%, Middle East & Africa: 5%, Latin America: 5%Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=231790940
Recent Developments of Computer Vision in Healthcare Industry:
In April 2024, iCAD partnered with RAD-AID to enhance breast cancer detection utilizing the AI technology in underserved regions and low- and middle-income countries (LMICs).In March 2024, Microsoft and NVIDIA have broadened their longstanding collaboration with robust new integrations that harness cutting-edge NVIDIA generative AI and Omniverse technologies across Microsoft Azure, Azure AI services, Microsoft Fabric, and Microsoft 365.In February 2022, Advanced Micro Devices acquired Xilinx. This acquisition established the forefront leader in high-performance and adaptive computing, with a significantly expanded scale and the most formidable portfolio of leadership computing, graphics, and adaptive SoC products in the industry.Computer Vision in Healthcare Market – Key Benefits of Buying the Report:
This report will enrich established firms and new entrants/smaller firms to gauge the market’s pulse, which, in turn, would help them garner a greater share of the market. Firms purchasing the report could use one or a combination of the below-mentioned strategies to strengthen their positions in the market.
This report provides insights on:
Analysis of key drivers: (Increasing demand for computer vision systems in the healthcare industry, government initiatives to increase the adoption of AI-based technologies), restraints (Reluctance of medical practitioners to adopt AI-based technologies), opportunities (Cloud-based healthcare computer vision solutions), and challenges (Rising security concerns related to cloud-based image processing and analytics) influencing the growth of the computer vision in healthcare market.Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the computer vision in healthcare market.Market Development: Comprehensive information on the lucrative emerging markets, products & services, applications, end-users, and regions.Market Diversification: Exhaustive information about the product portfolios, growing geographies, recent developments, and investments in the computer vision in healthcare market.Competitive Assessment: In-depth assessment of market shares, growth strategies, product offerings, and capabilities of the leading players in the computer vision in healthcare market like NVIDIA Corporation (US), Intel Corporation (US), Microsoft Corporation (US), Advanced Micro Devices, Inc. (US), Google, Inc. (US).Related Reports:
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Minimally Invasive Surgery Market – Global Forecasts to 2029
Spinal Implants Market – Global Forecasts to 2028
Medical Waste Management Market – Global Forecasts to 2028
Operating Room Integration Market – Global Forecasts to 2028
Get access to the latest updates on Computer Vision in Healthcare Companies and Computer Vision in Healthcare Market Size
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MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
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Artificial Intelligence
IoT Technology Market worth $1,377.8 billion by 2029 – Exclusive Report by MarketsandMarkets™
CHICAGO, May 3, 2024 /PRNewswire/ — The IoT technology market is projected to grow from USD 945.6 billion in 2024 to USD 1,377.8 billion by 2029, registering a CAGR of 7.8% during the forecast period according to a new report by MarketsandMarkets™. The market growth is attributed to increased potential for the incorporation of IoT in electric and hybrid vehicles and accelerated IoT adoption in the healthcare sector. Furthermore, the government incentives and aids for development of IoT technologies and rise in the development of smart cities are expected to create lucrative opportunities for the market.
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Browse in-depth TOC on “IoT Technology Market”
110 – Tables80 – Figures250 – Pages
IoT Technology Market Report Scope:
Report Coverage
Details
Market Revenue in 2024
$ 945.6 billion
Estimated Value by 2029
$ 1,377.8 billion
Growth Rate
Poised to grow at a CAGR of 7.8%
Market Size Available for
2020–2029
Forecast Period
2024–2029
Forecast Units
Value (USD Million/Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
By Node Component, Software Solution, Platform, Service, End-use Application, Geography
Geographies Covered
North America, Europe, Asia Pacific, and Rest of World
Key Market Challenge
High power consumption by wireless sensor terminals/connected devices
Key Market Opportunities
Increased potential for the incorporation of IoT in electric and hybrid vehicles
Key Market Drivers
Emergence of 5G communications technology
The network management IoT technology platform segment is expected to account for the largest share of the IoT technology market in 2024.
The network management segment is a significant market for IoT technology. A network management platform is a common platform to manage the entire network of an organization. The platform ensures that users are able to receive IT services from anywhere and at any time. By using the platform, a network administrator can easily detect any failure in the network and resolve issues in real time or inform support personnel. A network management platform also assists in analyzing the amount of data that is being transferred over a network and automatically routes them to avoid congestion that can result in a crash of the network. For critical application areas, such as mobility and transport, logistics, energy, and manufacturing, seamless and faster data transfer is required. This requires the appropriate configuration of network devices, which is possible only through a high level of visibility provided by a network management platform.
The industrial segment is expected to have highest CAGR in the forecast period.
The industrial segment is projected to record the highest CAGR during the forecast period. Healthcare, automotive & transportation, building automation, manufacturing, retail, BFSI, oil & gas, agriculture, and aerospace & military are among the industrial end-use applications. The building automation market has developed as a result of the demand for more energy-efficient solutions, more security, more venture capital funding, and ongoing efforts to improve lifestyle. After beginning with wired technology, building automation has transitioned into the era of wireless technologies like Bluetooth and ZigBee Wi-Fi. Additionally, more stringent regulations and growing awareness of energy saving and building regulations, the development of many smart grid technologies, and the accessibility of several open protocols are propelling the market for building automation.
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The Asia Pacific market is expected to witness the highest CAGR in the IoT technology market during the forecast period.
Asia Pacific is projected to record the highest CAGR during the forecast period. The main countries in Asia Pacific contributing to the growth of the loT technology industry are China, India, South Korea, and Japan. Some of the major factors supporting the expansion of the lot technology market in Asia Pacific are the expanding consumer base, rising disposable income, increasing internet penetration in both business and residential areas, and improving IT infrastructure. Furthermore, the market for IoT technology for commercial applications in countries like China, South Korea, and Japan is growing primarily due to the trend of industrial automation and the use of cloud-based services. Furthermore, China’s involvement in the adoption and development of lot is vital for the expansion of these businesses because it is the key hub for semiconductor production and manufacturing. China is a manufacturing hub and is the leading producer of manufactured goods such as textiles, electronic equipment, and agricultural products. In the production process, IoT is used to monitor the machinery, employees, and environmental conditions. The data can be further used to analyze, control, and prevent risks and avoid economic losses. End-to-end automation is a new concept gaining momentum in the current technology market in China.
Key players
Key players in the IoT technology companies include Intel Corporation (US), Qualcomm (US), Texas Instruments Incorporated (US), Cisco Systems, Inc. (US), Hewlett Packard Enterprise (US), IBM (US), STMicroelectronics (Switzerland), Microsoft, PTC Inc. (US), and Amazon Web Services (US), and among others.
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About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
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