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Natural Stone Market to Reach $57.6 Billion, Globally, by 2032 at 4.4% CAGR: Allied Market Research

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Allied Market Research published a report, titled, “Natural Stone Market by Type (Marble, Granite, Limestone, and Others), Application (Flooring, Memorial Arts, Wall Cladding, and Others), and Construction Type (New Construction and Renovation): Global Opportunity Analysis and Industry Forecast, 2023–2032″. According to the report, the global natural stone industry generated $33,776.3 million in 2020, and is anticipated to generate $57,606.3 million by 2032, witnessing a CAGR of 4.4% from 2023 to 2032.

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Prime determinants of growth

The increase in spending on home remodeling and retrofitting activities drives the natural stone market. However, fluctuations in foreign currencies and an increase in emphasis toward utilization of artificial materials are restraining the growth of the market. On the contrary, increase in government and private investments in the infrastructure are expected to offer lucrative opportunities for the growth of the market.

Report coverage & details:

Report Coverage

Details

Forecast Period

2023–2032

Base Year

2022

Market Size in 2020

$33,776.3 million

Market Size in 2032

$57,606.3 million

CAGR

4.4 %

No. of Pages in Report

270

Segments covered

Type, Application, Construction Type, and Region.

Drivers

Increase in spending on home remodeling and retrofitting activities

Rise in popularity of outdoor entertaining areas among wall cladding end-users

Rapid urbanization in emerging economies

Growth in the construction sector

Opportunities

Increase in government and private investments in the infrastructure sector

Restraints

Fluctuations in foreign currencies

Increase in emphasis toward utilization of artificial materials

Analysis of the impact of inflation on the market

  • The natural stone market is experiencing slow-paced growth due to various global events such as the economic downturn, and the COVID-19 pandemic. Formerly, the COVID-19 pandemic forced countries across the world to halt all industrial and trade activities, which severely impacted market growth. This led to reduced output from the key players in the natural stone market and resulted in lower demand from various end users. However, the COVID-19 pandemic has mostly subsided, and the probability of its severe negative impact on the natural stone market is relatively low.
  • Currently, the market is mainly impacted by the worldwide economic downturn which is a big restraining factor for the entire industrial and construction sectors. The current inflation is a result of the UkraineRussia conflict, as well as the quantitative easing that was performed in various countries across the world to tackle the economic downturn during the coronavirus outbreak.

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The granite segment to maintain its leadership status throughout the forecast period

Based on type, the granite segment held the highest market share in 2020, accounting for nearly two-fifths of the global natural stone market. Granite is widely used for making gravestones, sculpture, and memorials, due its hardness. Increase in adoption of granite as a flooring tile has been witnessed in the recent years in commercial and public buildings, owing to its aesthetic appearance. Moreover, it is used in manufacturing countertops and bathroom vanities. Many natural stone producers have adopted business expansion strategy to sustain the intense competition and improve their product portfolio. For example, Granite Top, Inc., a U.S.-based manufacturer of granite countertops invested in high-tech automated machinery to increase its production capacity to meet the growing demands for granite. In addition, the rise in demand for granite for residential properties and the rise in investment in construction activities, fuel the growth of the global natural stone market. However, marble segment is projected to manifest the highest CAGR of 4.7% from 2023 to 2032. Marble is preferred for residential and commercial construction activities by architects and decorators, owing to its qualities such as rich colors, natural textures, and polished finish. In addition, marble serves as a popular choice for the residential construction, due to its inalterable properties. Furthermore, it is widely adopted for internal walls, floors, facades, and countertops, as it only requires polishing to retain the original natural gloss. Moreover, rise in disposable income of people in developing countries, rapid urbanization, and presence of huge customer base are expected to significantly contribute toward the growth of the global market.

The flooring segment to maintain its leadership status throughout the forecast period

Based on application, the flooring segment held the highest market share in 2020, accounting for nearly two-fifths of the global natural stone market. Features of natural stone such as prolonged durability, design flexibility, and easy installation drive the growth of the natural stone market. In addition, the vast availability and decline in prices of natural stones significantly contribute toward the market growth. Moreover, abundant demand for natural stone such as marble and sandstone in flooring, for cathedrals and mosques across the globe, augments the growth of the market. However, the wall cladding segment is projected to manifest the highest CAGR of 4.9% from 2023 to 2032. Natural stones such as marble and granite enhance the overall appearance of commercial and residential landscapes, which fuel their adoption across the globe. In addition, an increase in adoption of natural stones has been witnessed for wall cladding, owing to factors such as prolonged durability and superior aesthetics. Moreover, the demand for natural stones for wall cladding is driven by the easy availability of raw materials along with smart cladding systems, which are used for optimizing temperature levels inside buildings.

The renovation segment to maintain its lead position during the forecast period

Based on construction type, the renovation segment accounted for the largest share in 2020, contributing to nearly three-fifths of the global natural stone market revenue, and is projected to maintain its lead position during the forecast period. Many companies are engaged in adopting various strategies to expand their base and increase their production capacity to sustain the intense competition and improve the product portfolio of natural stones. For instance, in January 2021Canada-based Polycor acquired North Carolina Granite Corporation, which deals in the manufacturing and trading of granite marbles, natural stones, and tiles. The acquisition aimed to improve the geographical footprint, and product portfolio of natural stone products. Moreover, the renovation of old heritage homes is expected to offer lucrative opportunities for the expansion of the market during the forecast period. Thus, all these factors are anticipated to drive the growth of this segment during the forecast period.

Asia-Pacific to maintain its dominance by 2032

Based on region, Asia-Pacific held the highest market share in terms of revenue in 2020, accounting for more than two-fifths of the global natural stone market revenue, and is likely to dominate the market during the forecast period. The demand for granite and marble is growing at a significant rate in Asia-Pacific, owing to strong economic growth in the developing economies, such as ChinaIndiaJapanMalaysia, and Australia. Furthermore, an increase in demand for wall cladding construction is anticipated to boost the need for natural stones, thereby driving the growth of the market. In addition, rapid urbanization is substantially fueling the development of infrastructure such as townships, wall-cladding buildings, parks, and public spaces, which is anticipated to fuel the Asia-Pacific natural stone market growth during the forecast period. However, the LAMEA region is expected to witness the fastest CAGR of 5.0% from 2023 to 2032. Significant investment toward infrastructure development by government and private firms and an increase in the popularity of outdoor flooring in the Middle East are the major driving factors of the market in LAMEA. Moreover, the government initiative to promote tourism has resulted in a significant increase in construction activities, which is expected to drive the demand for natural stones.

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Leading Market Players: –

  • Aro Granite Industries Ltd.
  • Dimpomar
  • Dermitzakis Bros S.A.
  • Levantina y Asociados de Minerales, S.A.
  • MARGRAF
  • Mumal Marble
  • Polycor Inc.
  • Temmer Marble
  • Topalidis
  • Xishi Stone Group

The report provides a detailed analysis of these key players in the global natural stone market. These players have adopted different strategies to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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Artificial Intelligence

Borderless AI and Nium Transform Employer of Record Business with Real-Time Cross-Border Payments

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Strategic alliance will allow for employers to seamlessly pay employees and contractors in 100 currencies across more than 190 countries
TORONTO, May 1, 2024 /PRNewswire/ — Today, Borderless AI, a leading Employer of Record (EOR) services provider, announced its strategic partnership with Nium, the global leader in real-time, cross-border payments, aiming to revolutionize cross-border payments in the EOR industry. This collaboration marks a significant milestone in enhancing efficiency, transparency, and speed in global employment and payroll solutions.

The traditional EOR process often faces delays and inefficiencies in cross-border payments, leading to administrative bottlenecks and hindered business operations. With Nium’s cutting-edge technology integration, Borderless AI is able to streamline operations, offering faster, more efficient, and secure payment solutions. This enables organizations to confidently navigate international complexities, seamlessly pay employees and contractors, and manage remote teams more efficiently.
Nium’s advanced payment infrastructure and global network facilitate seamless fund transfers across borders, eliminating intermediaries and significantly reducing transaction times. Borderless AI can now provide clients with instant transfer of funds through Nium’s platform, enabling efficient management of payroll, taxes, expenses, and financial obligations across more than 190 countries.
“Our collaboration with Nium represents a significant leap in delivering multi-country payroll and unmatched value to our customers,” said Willson Cross, CEO of Borderless AI. “By leveraging Nium’s innovative technology, we empower businesses to efficiently manage their global workforce while ensuring timely and secure cross-border payments.”
Some benefits derived by organizations like Affiniti Finance and MG2 Corporation include:
Faster and more affordable cross-border payments.Worldwide access to 190+ countries and 100 currencies, with funds available real-time in 100 markets.Helps scale globally in a compliant manner, by adhering to local regulations and maintaining robust security measures.”Borderless AI is contributing to the changing Employer of Record industry and we are excited to be a part of their journey,” said Prajit Nanu, CEO and Co-founder of Nium. “By integrating our real-time cross-border payment solutions with Borderless AI’s EOR expertise, we empower businesses to transcend geographical barriers and unlock new opportunities for growth.”
In conjunction with this partnership and to strengthen its industry expertise, Borderless AI is officially announcing the addition of Rajesh Venkatesh as Chief Payments Officer and Umesh Maini as Chief Product Officer to its executive team. Both leaders bring invaluable experience from the global payments space. Venkatesh previously served as Chief Product Officer at Nium and worked as a payments executive for a combined 15 years at PayPal and eBay. Maini previously served as Chief Product Officer at Buckzy  – a cross-border payments network and embedded finance platform – and has worked as a payments executive at Western Union and TD Bank.
This strategic alliance underscores Borderless AI and Nium’s shared commitment to innovation and excellence in global employment solutions, paving the way for businesses to navigate cross-border operations efficiently and unlock new growth possibilities. For more information, visit us here.
About Borderless AI:Borderless AI is a global payroll solution that leverages the power of generative AI to automate and speed up the process of onboarding, managing, and paying international team members. With Borderless AI, businesses can compliantly hire and manage talent worldwide without establishing a foreign entity while alleviating the complexities and risks associated with hiring global employees. With a focus on innovation and customer service, Borderless AI developed Alberni, the world’s first AI agent for global HR. Alberni uses conversational AI to simplify global employment tasks from contract creation to expense management. The company is headquartered in Toronto, Canada, and has raised $27 million in seed funding to date, backed by Susquehanna and Aglaé Ventures.
About Nium:Nium, the leader in real-time, cross-border payments, was founded on the mission to deliver the global payments infrastructure of tomorrow, today. With the onset of the global economy, its payments infrastructure is shaping how banks, fintechs, and businesses everywhere collect, convert, and disburse funds instantly across borders. Its payout network supports 100 currencies and spans 190+ countries, 100 of which in real-time. Funds can be disbursed to accounts, wallets, and cards and collected locally in 35 markets. Nium’s growing card issuance business is already available in 34 countries. Nium holds regulatory licenses and authorisations in more than 40 countries, enabling seamless onboarding, rapid integration, and compliance – independent of geography. The company is co-headquartered in San Francisco and Singapore.
Media ContactInkhouse for Borderless [email protected]
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Appdome Unveils World’s First Agentless Mobile EDR & MTD

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Appdome MobileEDR™ removes complexity and friction with new unified Enterprise Mobile Endpoint Detection and Response and Mobile Threat Defense Solution
REDWOOD CITY, Calif., May 1, 2024 /PRNewswire/ — Appdome, the mobile app economy’s one-stop shop for mobile app defense, today announced Appdome MobileEDR™, a new enterprise mobile app protection service that consolidates Mobile Threat Defense (MTD) and Endpoint Detection & Response (EDR) capabilities into a single agentless product offering. MobileEDR leverages the 300+ defenses of the Appdome platform and provides real-time mobile threat and attack detection, deep mobile device inspection and anywhere enforcement to keep enterprise networks and resources safe from malware, supply chain and other attacks.

Legacy MTD and mobile EDR solutions have failed to adequately protect against the growing proliferation of mobile threats. To work, these early offerings required user-dependent software agents, such as separate mobile apps or profiles, to be installed on the user’s mobile device(s). These added agents, apps and profiles raised privacy concerns among employees, slowed adoption and could be disabled by the mobile end user, leaving gaps in device inspection and mobile threat detection.  Likewise, these early offerings often impose a manual implementation burden and complex SDKs on resource constrained mobile development teams, leading most teams to shelve or abandon MTD and mobile EDR deployment. Appdome is eliminating this friction and delivering the world’s first agentless, no code, no server solution for enterprise mobile apps to ensure maximum enterprise adoption and protection.
“Mobile EDR and threat detection solutions have failed to gain wide adoption for several reasons – privacy concerns and compliance, implementation complexity of SDKs, and lack of mobile end-user trust with MTD apps and agents on their BYOD devices,” said Richard Stiennon Chief Research Analyst with IT-Harvest. “The Appdome approach gives organizations the full power of Mobile EDR and MTD, including protection, response, and visibility without the friction of SDK, server, and agent-based approaches.”
The Appdome MobileEDR is an in-app mobile EDR and MTD solution coded into enterprise mobile applications by Appdome’s patented no-code, unified mobile app defense platform. By delivering the needed device inspection, threat detection and telemetry capabilities in the mobile app itself, Appdome provides continuous and comprehensive monitoring of Android and iOS devices, including mobile smartphones, embedded apps, VR apps, and wearable apps. All mobile threat inspections are performed throughout the lifecycle of use for each mobile app, without any server, server call outs or other external attestation. This ensures full runtime protection, improves stability and responsiveness, and eliminates signal spoofing common with server attestation services. 
“We’ve built the first mobile EDR/MTD solution that addresses the reality of how organizations need to detect and respond to mobile threats in the enterprise,” said Tom Tovar, co-creator and CEO of Appdome. “SolarWinds taught all of us that malware on a mobile device can compromise an enterprise network and to protect the enterprise network, you need broad adoption and persistence in your mobile EDR/MTD solution. It does no good if it’s not used or it can be turned off.”
Key features of Appdome MobileEDR solution include:
In-App Enterprise Delivery: Appdome MobileEDR is the only solution that can be deployed in both internally developed and 3rd party mobile applications without any code, coding, SDKs or servers. All mobile EDR/MTD capability is added in the enterprise application and hardened against reverse engineering and attacks by design.In-Use Mobile Threat Inspection:  Once embedded in an enterprise mobile app, Appdome’s Threat-EKG feature functions as a persistent mobile EDR/MTD solution during the lifecycle of use for each mobile application. That means, it operates when the enterprise mobile application is in use (and does not operate when it’s not in use). This eliminates any privacy concerns and allows the mobile EDR/MTD to detects mobile threats relevant to the enterprise business in real time.Broadest Mobile Threat Detection: Appdome packs 300+ mobile app security, anti-malware, anti-spyware, anti-vishing, anti-fraud, social engineering, geo-compliance, and anti-bot defenses into MobileEDR to offer enterprises the most comprehensive mobile device inspection, EDR and MTD on the market. Anywhere Enforcement: The Appdome MobileEDR’s Anywhere Enforcement™ model allows enterprises to use mobile threat detection and defense data across the entire enterprise infrastructure, including the mobile app, mobile app server, IAM service layer, UEM/MAM/MDM, or firewall/WAF. This ensures that enterprises can get the full benefit of deep device inspection on managed and unmanaged mobile devices.Adaptive Mobile Trust: Appdome MobileEDR is the only mobile threat detection and defense system that empowers the enterprise to set the level of trust to use in evaluating on-device mobile threats. Enterprises can use either Zero-Trust, to ensure the device is free of any specific threat before allowing connection, login or activity in the mobile app. Or, Enterprises can use Dynamic Trust which evaluates the device state dynamically throughout the lifecycle of mobile app use.Appdome ThreatSource™: Appdome MobileEDR comes ready to use with application userID or sessionID to give enterprises even deeper investigation and telemetry on threats and attacks impacting their users and network.Appdome ThreatScope™ Mobile XDR: Telemetry data is visualized in ThreatScope, which provides instant visibility and rapid, agile response to any threat or attack against Android & iOS apps.”Enterprises need more flexible and agile ways to stay ahead of mobile threats, malware, NSOs, and protect their employees and networks effectively,” said Chris Roeckl, Chief Product Officer at Appdome. “MobileEDR is the only mobile EDR and MTD that goes beyond the basic device inspection to include geo-compliance, social engineering defenses and more. We can’t wait to get this product into the hands of enterprises everywhere.”
Appdome will be demonstrating the new Appdome MobileEDR solution at the RSA Conference 2024 in San Francisco May 6-9, 2024 in booth #2339. For more information about Appdome MobileEDR, please visit our web site at https://www.appdome.com/enterprise-mobile-app-security/mobile-endpoint-detection-and-response/.  
About AppdomeThe Appdome mission is to protect every mobile app and mobile user in the world. . Appdome provides the mobile industry’s only Unified Mobile App Defense platform, powered by a patented mobile coding engine, Threat-Events™ Threat-Aware UX/UI Control, and ThreatScope™ Mobile XDR. Using Appdome, mobile brands eliminate complexity, ship faster and save money by delivering 300+ Certified Secure™ mobile app security, anti-malware, anti-fraud, mobile anti-bot, anti-cheat, geo compliance, MiTM attack prevention, code obfuscation, social engineering and other protections in Android and iOS apps with ease, inside the mobile DevOps and CI/CD pipeline. Leading financial, healthcare, government and m-commerce brands use Appdome to protect Android and iOS apps, mobile customers and mobile businesses globally. Appdome holds several patents including U.S. Patents 9,934,017 B2, 10,310,870 B2, 10,606,582 B2, 11,243,748 B2 and 11,294,663 B2. Additional patents pending.
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Artificial Intelligence

Cloud Orchestration and AI Innovation Fuel Asia Pacific’s Emergence as Premier Hub for Next-Generation Data Center Sites

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SINGAPORE, May 1, 2024 /PRNewswire/ — The acceleration of digital transformation initiatives such as hybrid cloud deployments, Artificial Intelligence (AI) and Machine Learning (ML) solutions, and the implementation of the Internet of Things (IoT) at the edge network continues to generate usage and demand for next-generation data centers. According to global technology intelligence firm ABI Research, next-generation colocation data centers will reach 7,640 sites by 2030, growing at a Compound Annual Growth Rate (CAGR) of 6.8%.

Data centers will continue playing an integral role in driving enterprises’ digital operations. “Deployment of cloud-based solutions remains a top agenda for many enterprises, necessitating the demand for data centers. The rise of edge-to-cloud data management orchestration solutions increases the benefits of running workloads through a robust and well-equipped data center,” says Yih-Khai Wong, Distributed and Edge Computing Senior Analyst at ABI Research.
Data centers are undergoing a transformation phase. “This is necessary as data and workloads are getting more complex, requiring higher processing capabilities. We are seeing an increasing demand for mega and large data center sites that can support AI/ML workloads, including generative AI,” Wong explains.
Asia Pacific (excluding China) will host the largest number of colocation sites by 2030, accounting for 28% of total colocation sites worldwide. Europe is the second largest region with 27%, while North America is third with 24%. This represents a shift compared to 2023, when Europe had the most colocation sites, with 31% of total sites, followed by North America with 27%, and the Asia Pacific (excluding China) with 22%.
“The emergence of generative AI has also boosted demand for next-generation data center capabilities. The processing of large language models (LLMs) will require a tremendous amount of data processing power and excellent network connectivity. Data center operators will have to ensure that current and future data center sites can meet the requirements generated from new technologies,” Wong concludes.
These findings are from ABI Research’s Next-Generation Data Center Forecasts market data report. This report is part of the company’s Distributed and Edge Computing research service, which includes research, data, and ABI Insights.
About ABI Research
ABI Research is a global technology intelligence firm delivering actionable research and strategic guidance to technology leaders, innovators, and decision makers around the world. Our research focuses on the transformative technologies that are dramatically reshaping industries, economies, and workforces today.
ABI Research是一家国际科技情报公司,为全球科技领袖、创新人士和决策者提供实用的市场研究和战略性指导。我们密切关注一切为各行各业、全球经济和劳动市场带来颠覆性变革的创新与技术。
For more information about ABI Research’s services, contact us at +1.516.624.2500 in the Americas, +44.203.326.0140 in Europe, +65.6592.0290 in Asia-Pacific, or visit www.abiresearch.com.
Contact Info:GlobalDeborah Petrara Tel: [email protected] 
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