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Orthodontics Market on a Growth Trajectory: CAGR of 18.8%.Highlights Positive Outlook

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According to Prophecy Market Insights Orthodontics Market accounted for US$ 5.4 billion in 2022 and is estimated to be US$ 20.0 billion by 2032 and is anticipated to register a CAGR of 18.8%.

Orthodontics is a specialized branch of dentistry that focuses on the diagnosis, prevention, and treatment of dental and facial irregularities. The field of orthodontics primarily deals with correcting misaligned teeth and jaws, improving the overall alignment and function of the bite, and enhancing the appearance of the smile. Orthodontic treatment typically involves the use of braces, which are fixed or removable appliances that apply gentle pressure to gradually move teeth into their desired positions. Traditional braces consist of metal brackets bonded to the teeth and connected with wires, while modern options include ceramic braces (tooth-colored), lingual braces (placed on the inner surface of teeth), and clear aligners (transparent, removable trays).

Orthodontic treatments aim to achieve optimal oral health by addressing various issues, including crooked teeth, crowded teeth, gaps between teeth, overbites, underbites, crossbites, and other malocclusions (bite problems). These dental irregularities can cause difficulties in chewing, speaking, and maintaining proper oral hygiene. An orthodontist is a dental specialist who undergoes additional years of training after dental school to acquire expertise in orthodontics. They are skilled in the diagnosis and treatment of dental and facial irregularities using various orthodontic appliances and techniques.

The orthodontics market is a rapidly growing sector within the dental industry that focuses on the diagnosis, prevention, and treatment of dental and facial irregularities. Orthodontics primarily deals with the correction of malocclusions, commonly known as misaligned teeth or improper bites, through the use of various appliances, braces, aligners, and other corrective measures.

Prominent players:

  • Institut Straumann AG
  • Dentsply Sirona
  • 3M Company
  • Align Technology, Inc.
  • American Orthodontics
  • Danaher Corporation
  • Dentaurum GmbH & Co. KG
  • DENTSPLY International, Inc.
  • Henry Schein, Inc.
  • Rocky Mountain Orthodontics, Inc.
  • TP Orthodontics, Inc.

Key Highlights:

  • In March 2023, Straumann Group launched a new series of new digital solutions “Straumann Falcon” a new navigation system used for dental implant procedures. New launched product is featured with Straumann Group’s orthodontic brand ClearCorrect.
  • In June 2022, Align Technology, Inc., a leading global medical device company that designs, manufactures and markets the Invisalign system of clear aligners, iTero intraoral scanners and ExoCAD CAD/CAM software for digital orthodontics and restorative dentistry, announced in June the company’s twelfth annual Research Awards of eleven research grants to universities under the programme.

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Segmentation analysis:

Segmentation analysis is a crucial process in understanding and evaluating the market dynamics of any industry, including the orthodontics market. By segmenting the market, we can gain insights into various submarkets or target customer groups and identify key trends, opportunities, and challenges within each segment. Here is a segmentation analysis of the orthodontics market:

Product Type:

  • Fixed Braces: Traditional metal braces, ceramic braces, lingual braces.
  • Removable Braces: Clear aligners, retainers.

Age Group:

  • Children and Adolescents: Orthodontic treatment for kids and teenagers.
  • Adults: Increasing number of adults seeking orthodontic treatment.

End User:

  • Hospitals: Orthodontic services provided within hospital settings.
  • Dental Clinics: Standalone dental clinics specializing in orthodontic treatments.
  • Orthodontic Centers: Specialty centers focused solely on orthodontics.

Geography:

  • North America: United States, CanadaMexico.
  • Europe: United Kingdom, GermanyFranceItalySpain, etc.
  • Asia-Pacific: China, JapanIndiaAustraliaSouth Korea, etc.
  • Latin America: Brazil, ArgentinaColombia, etc.
  • Middle East and Africa: Saudi Arabia, UAE, South Africa, etc.

Application:

  • Malocclusion: Correcting misalignment and irregular positioning of teeth.
  • Dentofacial Orthopedics: Addressing skeletal and jaw abnormalities.
  • Cosmetic Dentistry: Enhancing the appearance of the smile through orthodontic treatment.

Patient Type:

  • Self-pay: Patients who directly pay for their orthodontic treatment.
  • Insurance-covered: Patients whose orthodontic treatment is covered by insurance.
  • Government-funded: Patients receiving orthodontic treatment through government healthcare programs.

Distribution Channel:

  • Direct Sales: Orthodontic products sold directly by manufacturers or authorized distributors.
  • Retail Sales: Products available through retail outlets, pharmacies, and online platforms.

Technology:

  • Traditional Braces: Conventional orthodontic appliances and techniques.
  • Clear Aligners: Advanced computer-generated aligner systems.

Orthodontic Services:

  • Orthodontic Consultation: Initial assessment and treatment planning.
  • Orthodontic Appliances: Manufacturing and sales of braces and aligners.
  • Orthodontic Retainers: Post-treatment devices to maintain teeth alignment.

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Growing Factor:

One of the significant growing factors for the orthodontics market is the increasing awareness and demand for aesthetic dental treatments. Here are some key factors contributing to the growth of the orthodontics market:

Rising Aesthetic Concerns:

There is a growing emphasis on appearance and aesthetics among individuals, leading to an increased demand for orthodontic treatments. People are increasingly seeking orthodontic solutions to address issues like misaligned teeth, overcrowding, and malocclusion to improve their smiles and overall facial aesthetics.

Technological Advancements:

Technological advancements in orthodontic treatment options, such as the development of clear aligner systems, have expanded the range of choices available to patients. Clear aligners offer a more discreet and convenient alternative to traditional braces, driving their adoption among both adults and teenagers.

Increasing Adult Orthodontic Treatments:

Traditionally, orthodontic treatments were primarily associated with children and teenagers. However, there has been a notable increase in the number of adults seeking orthodontic treatment to improve their oral health and enhance their appearance. Factors such as improved treatment options, shorter treatment durations, and increased awareness among adults have contributed to this trend.

Growing Disposable Income:

Rising disposable income levels in many countries have made orthodontic treatments more affordable and accessible to a larger segment of the population. As individuals have more financial resources, they are more likely to invest in orthodontic procedures to enhance their oral health and achieve the desired aesthetic outcomes.

Orthodontics in Dental Tourism:

Dental tourism, where individuals travel to other countries for dental treatments, including orthodontics, has gained popularity. Lower treatment costs, high-quality services, and availability of advanced orthodontic treatments in certain countries have fueled the growth of dental tourism, contributing to the overall orthodontics market.

Technological Innovations in Orthodontic Products:

The orthodontics market has witnessed continuous advancements in materials, products, and treatment techniques. Innovations such as self-ligating braces, digital orthodontics (including 3D imaging and treatment planning), and robotics-assisted orthodontics have improved treatment outcomes, reduced treatment durations, and enhanced patient experience.

Growing Dental Insurance Coverage:

Increasing insurance coverage for orthodontic treatments has made them more accessible and affordable for a larger portion of the population. Insurance plans covering orthodontic procedures provide financial support to individuals seeking treatment, further driving the market growth.

These growing factors indicate a positive outlook for the orthodontics market, with a steady increase in demand for orthodontic treatments driven by aesthetic concerns, technological advancements, and changing demographics.

Analyst View:

Orthodontics Market is expected to experience significant growth in the future due to several factors. There is a growing emphasis on dental aesthetics and the desire for a straighter and more attractive smile. As a result, more people are seeking orthodontic treatment to correct dental irregularities such as crooked teeth and malocclusions. The demand for cosmetic dentistry, including orthodontics, is expected to drive target market growth. Further, the orthodontics field continues to benefit from technological advancements. Digital orthodontics, including computer-aided design and manufacturing (CAD/CAM) systems, 3D imaging, and intraoral scanners, have revolutionized treatment planning and the fabrication of orthodontic appliances. These technologies improve treatment accuracy, efficiency, and patient experience, driving Orthodontics Market growth in coming years.

Attributes

Details

Orthodontics Market Value (2022)

US$ 5.4 billion

Orthodontics Market Projected Value (2032)

US$ 20.0 billion

Orthodontics Market CAGR (2022-2032)

18.8%.

Segments Covered

By Type , Application, By Region

Geographies Covered

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Report Covered

Trends, Analysis ,Forecast,  Drivers,

Opportunities

Challenges

·  High Treatment Costs

·  Limited Insurance Coverage

·  Limited Access to Specialist Orthodontists

·  Technological Adoption and Training

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Artificial Intelligence

Aurionpro Solutions acquires Arya.ai, to power next generation Enterprise AI platforms for Financial Institutions

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SINGAPORE, April 20, 2024 /PRNewswire/ — Aurionpro Solutions Limited (BSE: 532668) (NSE: AURIONPRO) announces the acquisition of Banking and Insurance focused PaaS startup, Arya.ai. With Arya.ai, Aurionpro will enhance its portfolio of enterprise fintech offerings to expedite adoption of AI that is responsible, accurate, and auditable.

 
 
Aurionpro Solutions Ltd. will acquire a majority stake (67%) in Arya.ai. This acquisition will bring products and expertise in Artificial Intelligence, Deep Learning, Intelligent Automation, PaaS, Autonomous AI Platforms, and more, to complement and strengthen Aurionpro’s industry leading portfolio.
The transaction comprises acquisition of shares held by the existing shareholders and subscription of new equity capital in the company. This will be an all-cash deal. The aggregate investment including  secondary acquisition and fund infusion is approximately 16.5 MN USD.
By integrating Arya.ai’s cutting-edge AI cloud platform, with Aurionpro’s comprehensive suite of offerings, the company will create an industry leading Enterprise AI platform focused on creating value for financial institutions globally. 
Commenting on the acquisition, Ashish Rai, CEO of Aurionpro Solutions, stated, “The acquisition of Arya.ai marries Aurionpro’s portfolio of industry leading enterprise software with one of the most mature Enterprise AI platforms focused on Banks and Insurers. We are incredibly excited about working with Arya.ai and our wider ecosystem partners to build out the leading Enterprise AI platform, for the financial industry worldwide.”
“Our decade long experience in building tools/platform for deep learning helped us to build a truly verticalized AI Operating System for Banking and Insurance.” Says Vinay Kumar CEO/Founder of Arya.ai. “Together with Aurionpro, we are going to build a new generation of Enterprise AI software for Banks and Insurers that truly embeds AI, augmenting a task or Autonomous Agents that can take over entire transactions”. 
Founded in 2013 by Vinay Kumar and Deekshith Marla, Arya.ai has been one of the first ‘AI’ startups to use Deep Learning and deploy in enterprises. Arya.ai’s BFSI PaaS offerings include Arya API with 80+ ML models, Libra for fine-tuning SOTA ML models, and AryaXAI for AI governance.
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Free Your Hands, QIDI Vida Smart AR Glasses Lead the Way in New Sports Experience.

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NEW YORK, April 19, 2024 /PRNewswire/ — Outdoor smart AR glasses, QIDI Vida, will officially launch on 23rd April on the Kickstarter platform.  QIDI Vida integrates the many functions of smart watches, sports headphones, cycling computers, heart rate monitors, and walkie-talkies using AR+AI technology, allowing users to bid farewell to cumbersome device management and enjoy outdoor sports anytime, anywhere with just one pair of glasses.

 
Function:
QIDI Vida uses high-tech HUD (Head-Up Display) which is similar to the technology used for aircrafts and premium cars and introduces it to the sports industry. Users can activate the HUD function at any time using voice control, enabling them to focus on the route ahead whilst simultaneously having access to information such as navigation, speed, heart rate, power and cadence, among other metrics. Another great function of the QIDI Vida is that users can also enjoy audiovisual entertainment through the optically perceived 100-inch AR  HUD screen, when having some down time. 
As cyclists and hikers often travel in groups, QIDI Vida supports eSIM and team functionality, allowing real-time voice communication without releasing handlebars, and users can monitor their groups’ real-time locations. The glasses also have comprehensive sensing and monitoring capabilities including temperature, humidity, UV, air pressure, geomagnetism and acceleration. In addition to obtaining environmental and health information, it also features health warnings such as altitude sickness symptoms and high heart rate, as well as fall and collision detection functions. And, in the event of danger, it can send distress signals to teammates.
Perks:
QIDI Vida has a global voice recognition and interaction feature that allows you to control all functions within the device by voice. To better provide users with an immersive sports experience, QIDI Vida’s intelligent system will have the capability to instantly gather personalised sports data, enabling it to deliver timely voice alerts and broadcasts, including the duration of exercise, distance, the environment and the weather – all tailored to the user’s preferences.
QIDI Vida enables voice-controlled photos and video recordings, allowing users to capture moments whilst cycling or hiking without the need to stop. QIDI Vida supports connections with common cycling smart hardware such as Garmin, Wahoo, Apple, and Samsung, supports GPX route files, and is compatible with professional sports apps such as Strava, Keep, Zwift, Apple Health, and All Trails.
QIDI Vida stands out for its lightweight and comfortable design with a dual lens for a full-colour data display, unlike competing AR glasses that typically have a single lens and limited colour. This innovation significantly enhances and augments the user’s sports and reality experience.
QIDI Vida will launch on the Kickstarter platform: https://www.kickstarter.com/projects/109560964/qidi-vida-smart-ar-glasses-for-sports
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Risk Analytics Market worth $180.9 billion by 2029 – Exclusive Report by MarketsandMarkets™

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CHICAGO, April 19, 2024 /PRNewswire/ — The growing use of real-time monitoring and advanced analytics, integration with cutting-edge technologies like blockchain and IoT, and an emphasis on cybersecurity, cross-industry applications, and regulatory compliance are the key factors that will shape the risk analytics market in the future. The market’s development will also be influenced by collaborative risk management, improved user experience, and an increasing focus on ESG factors and risk culture.

The Risk Analytics Market is estimated to grow from USD 59.7 billion in 2024 to USD 180.9 billion in 2029, at a CAGR of 24.8% during the forecast period, according to a new report by MarketsandMarkets™.  Several trends fuel the global spread of Risk Analytics. Increasingly Increasing Data Complexity, Rising Cybersecurity Threats and Rising Adoption of Cloud-Based Solutions A growing talent pool of data scientists and engineers is building the necessary tools and infrastructure. Governments are recognizing the potential of risk analytics for economic growth and are investing in research and development. These trends make DI more accessible and valuable, leading to its global adoption.
Browse in-depth TOC on “Risk Analytics Market”260 – Tables 60 – Figures350 – Pages
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Scope of the Report
Report Metrics
Details
Market size available for years
2019–2023
Base year considered
2023
Forecast period
2024–2029
Forecast units
USD Billion
Segments Covered
Offering,Risk Type, Risk stages, Vertical, and Region.
Geographies covered
North America, Europe, Asia Pacific, Middle East & Africa, and Latin America
Companies covered
IBM (US), SAS Institute (US), Oracle (US), FIS(US), Moody’s Analytics (US), ProcessUnity(US), ServiceNow (US), Marsh (US), Aon (UK), MetricStream (US), Resolver (Canada), SAP (Germany), Milliman(US), LogicManager(US), Provenir(US), SAI360(US), Deloitte(UK), OneTrust(US), Diligent(US), Alteryx(US), CRISIL(India), Archer(US), ZestyAI(US), Fusion Risk Management(US), RiskVille(Ireland), SPIN Analytics(UK), Kyvos Insights(US), Imperva(US), Cirium(UK), Quantexa(UK), ClickUp(US), Sprinto(US), Ventiv(US), Adenza(US), Centrl.AI(Canada), SafetyCulture(Australia), Quantifi(US), CubeLogic(UK), Onspring(US), Riskoptics(US)
 
By offering the services segment to account for higher CAGR during the forecast period
In the Risk Analytics Market, the highest CAGR of services is fueled by Increasing Complexity of Risks, AI and machine learning advancements, big data analytics integration, business process optimization, cloud-based solutions adoption, data-driven culture, and diverse industry adoption. These trends reflect a global shift towards leveraging data for competitive advantage, driving a continuous need for sophisticated risk analytics services across sectors. As businesses prioritize agility, the growth of services in the Risk Analytics Market is driven by the need for effective risk management strategies in an increasingly complex and uncertain business environment.
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By Type, GRC software is expected to hold the largest market size for the year 2024
GRC software typically offers comprehensive solutions that cover a wide range of risk management needs, including compliance management, policy management, audit management, and risk assessment. They also provide organizations with enhanced visibility into their risk landscape. Through features such as risk assessment, risk monitoring, and reporting, organizations can identify and prioritize risks more effectively, enabling proactive risk management strategies.  GRC software streamlines risk management processes through automation, reducing manual effort and increasing efficiency. Tasks such as risk assessments, control testing, and incident management can be automated, freeing up resources to focus on strategic risk mitigation efforts. the combination of comprehensive functionality, regulatory compliance support, efficiency gains, scalability, integration capabilities, and culture enhancement makes GRC software a preferred choice for many organizations seeking to manage risk effectively.
By Vertical, Healthcare & Life Sciences is projected to grow at the highest CAGR during the forecast period
The Healthcare and Lifesciences is experiencing a surge in the adoption of risk analytics due to a confluence of factors. Healthcare providers and life sciences companies wants to ensure the safety and well-being of patients. Risk analytics helps in identifying potential risks to patient safety, such as medication errors, adverse events, and medical device failures. The healthcare and life sciences industries are heavily regulated, with strict guidelines for patient care, data privacy, drug development, and clinical trials. Risk analytics helps organizations ensure compliance with these regulations by identifying and mitigating risks of non-compliance.  Healthcare organizations and life sciences companies also face financial risks associated with fraud, billing errors, revenue cycle management, and reimbursement challenges. Risk analytics helps in detecting anomalies and optimizing financial processes to mitigate these risks.
Asia Pacific is expected to grow at the highest CAGR during the forecast period
The Asia-Pacific (APAC) region is experiencing rapid growth in the Risk Analytics Market, boasting the highest Compound Annual Growth Rate (CAGR). This surge is primarily attributed to rising demand for data-driven decision-making solutions, expanding digital transformation initiatives across industries.. Moreover, the region’s favorable regulatory environment, growing investments in big data analytics, and the integration of advanced technologies like the Internet of Things (IoT) further propel APAC’s dominance in Risk Analytics Market growth.
Top Key Companies in Risk Analytics Market:
The major risk analytics software and service providers include IBM (US), SAS Institute (US), Oracle (US), FIS(US), Moody’s Analytics (US), ProcessUnity(US), ServiceNow (US), Marsh (US), Aon (UK), MetricStream (US), Resolver (Canada), SAP (Germany), Milliman(US), LogicManager(US), Provenir(US), SAI360(US), Deloitte(UK), OneTrust(US), Diligent(US), Alteryx(US), CRISIL(India), Archer(US), ZestyAI(US), Fusion Risk Management(US), RiskVille(Ireland), SPIN Analytics(UK), Kyvos Insights(US), Imperva(US), Cirium(UK), Quantexa(UK), ClickUp(US), Sprinto(US), Ventiv(US), Adenza(US), Centrl.AI(Canada), SafetyCulture(Australia), Quantifi(US), CubeLogic(UK), Onspring(US), Riskoptics(US). These companies have used both organic and inorganic growth strategies such as product launches, acquisitions, and partnerships to strengthen their position in the Risk Analytics Market.
Recent Developments:
In March 2024, Orcale announced Oracle Risk Management Cloud in Release 24B. It offers comprehensive solution designed to help organizations identify, assess, and mitigate risks across their business operations. It offers advanced analytics, automation, and collaboration tools to streamline risk management.In March 2024, FIS Global announces card fraud detection capabilities leveraging artificial intelligence (AI) with aim to bolster FIS’s ability to identify and prevent fraudulent transactions, providing greater security for cardholders and financial institutions alike.In March 2024, Aon acquired an AI-powered platform to assist fleet and mobility clients in making data-driven decisions, enhancing operational efficiency and risk management. The platform utilizes artificial intelligence to analyze data and provide insights, enabling clients to optimize their fleet operations and improve decision-making processes.In March 2024, Crisp joined Resolver, with the aim to enhance Resolver’s risk intelligence capabilities by integrating Crisp’s expertise and technology into its platform, offering clients improved risk assessment and mitigation tools.In February 2024, SAS partnered with Carahsoft to bring analytics, AI, and data management solutions to the public sector. The aim is to leverage SAS’s expertise in advanced analytics and Carahsoft’s extensive government market reach to offer tailored solutions that enable public sector organizations to harness the power of data for informed decision-making and improved outcomes.Inquire Before Buying@ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=210662258
Risk Analytics Market Advantages:
By offering insights into potential risks, opportunities, and trends, risk analytics helps organisations make data-driven decisions that improve strategic planning and resource allocation.In order to improve risk management procedures and lessen exposure to possible threats, risk analytics solutions assist businesses in identifying, evaluating, and mitigating risks across a range of business activities, including finance, operations, and compliance.Through real-time monitoring and anomaly detection made possible by risk analytics, organisations may proactively address shifting market situations, legal requirements, and cybersecurity threats.Risk analytics solutions assist organisations lower operating costs, increase productivity, and streamline compliance activities, which results in cost savings and resource optimisation. They do this by streamlining risk management procedures and automating routine work.Accurate risk assessments, audit trails, and reporting capabilities are just a few of the ways that risk analytics solutions help organisations comply with regulations and stay out of trouble.Organisations can enhance their resilience and competitiveness by anticipating and mitigating potential hazards before they materialise through the use of predictive modelling and advanced analytics approaches in risk analytics.Report Objectives
To define, describe, and predict the Risk Analytics Market by offering, risk type, risk stages, vertical, and regionTo provide detailed information about the major factors (drivers, restraints, opportunities, and challenges) influencing the market growthTo analyze the opportunities in the market and provide details of the competitive landscape for stakeholders and market leadersTo forecast the market size of segments with respect to five main regions: North America, Europe, Asia Pacific, Middle East & Africa, and Latin AmericaTo profile the key players and comprehensively analyze their market rankings and core competenciesTo analyze the competitive developments, such as partnerships, product launches, and mergers & acquisitions, in the Risk Analytics MarketBrowse Adjacent Markets: Analytics Market Research Reports & Consulting
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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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