Technology Market report

Friday, 7 October 2022

AI In Media & Entertainment Market Worth $99.48 Billion By 2030

The global AI In Media & Entertainment Market size is expected to reach USD 99.48 billion by 2030, according to a new report by Grand View Research, Inc. The market is anticipated to expand at a CAGR of 26.9% from 2022 to 2030. The increasing popularity of virtual creation in the media and entertainment business, and its ability to create high-definition graphics and real-time virtual worlds, are driving the market forward. Artificial intelligence (AI) is helping media companies to leverage these benefits by enhancing content management across various phases in the workflow of content processes, including smart content analysis and categorization, automatic image tagging, scalable personalization and predictions, time-saving content creation assistance, and text intelligence and analysis, and voice-controlled platforms.

AI technology providers work with broadcast companies to incorporate AI to optimize programming timetables. For instance, the BBC has started many efforts to apply AI/Machine Learning (ML) to optimize and automate content management. These activities have been implemented in a live telecast and deliberated further in later segments. These projects precisely target workflow enhancements aiming at time and cost savings in creation and distribution. The growing use of AI-based virtual production infrastructure in movie studios and TV shows is anticipated to upsurge the demand for motion capture workstations, virtual cameras, simulation cameras, and other virtual production hardware in the coming years.

The rising popularity of realistic virtual elements and three-dimensional designs for movies and video games is expected to drive the demand for computer graphics cards. Artificial intelligence in the media & entertainment industry is implemented for trading or marketing, including design, advertisements, and film promotion. Smart AI frameworks can create extensive marketing and advertising solutions. Using AI, predictive analytics can perform marketing procedures faster. AI-driven marketing software helps create promotional approaches, address audience goals, and make effective customer solutions. For instance, ‘Alibaba Luban’, an AI-based graphic design software produces visual designs a hundred times faster than humans, which means it will create 8000 banners in just a second.

Related Press Release@ AI In Media & Entertainment Market Report

AI In Media & Entertainment Market Report Highlights

In terms of solutions, the services segment accounted for the maximum revenue share in 2021 and will expand further at a steady CAGR from 2022 to 2030
This growth is attributed to the lack of trained professionals in virtual production and VFX technology; film studios or moviemakers often hire qualified agencies and their services to implement VFX in their video productions
The sales and marketing segment accounted for the largest share of the global market revenue in 2021
AI is used for trading or marketing aspects, including design, advertising, and promotions in the entertainment & media fields
North America is projected to dominate the market throughout the forecast period as the region offers significant growth opportunities for industry expansion due to substantial investments in AI projects and related R&D activities

About Us:
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.

Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com

Weather Forecasting Services Market Size is Estimated to Witness 6.7% CAGR till 2030

The global Weather Forecasting Services Market size is expected to reach USD 4.0 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.7% from 2022 to 2030. Many businesses and industries such as aviation, agriculture, marine, transportation and logistics, and renewables are weather-sensitive, requiring highly accurate weather forecasting services and solutions to make decisions and operate efficiently. Climate change has led to more frequent extreme weather events, driving the demand for weather forecasting services worldwide.

The Covid-19 pandemic struck the globe in 2020, leading to travel restrictions and lockdowns. It impacted the operations of the market players owing to government regulations and supply chain disruption. Some of the market players witnessed negative or lower year-over-year (YoY) growth in revenues during the financial year. The accuracy of weather forecasts was probably reduced as lesser flights operated during the lockdown period. Other observation systems such as marine and satellites were affected to a lesser extent.

Many weather forecasting service providers offer tailored solutions to industries, meeting application-specific needs. Technological advancements such as Artificial Intelligence (AI) and Machine Learning (ML) are expected to aid in improving the weather forecast quality. Many players also offer data and analytics weather solutions to their clients, helping them mitigate risks and operate more efficiently. Market players are investing in research and technology such as automation and supercomputers for providing highly accurate weather forecasts.

Related Press Release@ Weather Forecasting Services Market Report

Weather Forecasting Services Market Report Highlights

In terms of forecast, the medium-range segment accounted for the largest revenue share in 2021 and is anticipated to expand at the highest CAGR over the forecast period. This can be attributed to the increasing demand and improvement in the accuracy of medium-range forecasts across industries
By organization size, the large enterprises segment accounted for the largest revenue share in 2021 and is expected to retain its lead over the forecast period. This can be attributed to factors such as advanced technological infrastructure and larger investments by enterprises
Based on industry, the media segment dominated the market in 2021. The aviation segment accounted for the second-largest revenue share in 2021. The renewables segment is expected to expand at the highest CAGR of 7.1% over the forecast period owing to the energy transition worldwide
North America held the largest revenue share in 2021 and is expected to retain its position over the forecast period. This can be attributed to the presence of a large number of weather forecasting service players in the region. The Asia Pacific region is anticipated to expand at the highest CAGR of over 6.8% over the forecast period

Monday, 3 October 2022

Artificial Intelligence In Fintech Market Worth $41.16 Billion By 2030

The global Artificial Intelligence In Fintech Market size is expected to reach USD 41.16 billion by 2030, growing at a CAGR of 16.5% from 2022 to 2030, according to a new report by Grand View Research, Inc. Artificial intelligence (AI) is widely used in financial organizations to improvise their precision levels, enhance their efficiency and instant query resolving through digital banking channels. AI technology like machine learning can help organizations raise their value by improving loan underwriting and eliminating financial risk. Organizations are also using it to build more robust fraud detection and prevention systems and help accelerate risk assessments and fraud detection.

The AI in fintech market is expected to increase in the coming years due to advancement in technology that is boosting financial service providers’ business processes. Some of the primary drivers of the market include growing internet penetration and geographical data availability. AI and machine learning have aided banks and fintech firms by allowing them to process massive volumes of client data. For instance, in March 2022, KBC Group, a Belgian-based multi-channel bank insurer, commercialized its portfolio of AI applications through Discai, its wholly-owned subsidiary, beginning with introducing an AI application meant to prevent money laundering.

Discai will first provide a unique and high-performance AI-based system for closely monitoring money laundering, take a phased approach to the market, and collaborate with partners to distribute and integrate these applications. Financial institutions and banks are implementing AI technologies to unlock insights and information hidden in unstructured documents and automate the manual processes that banks have historically performed at double-quick speed. In addition, the growing demand for process automation between financial institutions is propelling the market. Blockchain and distributed ledger technology enhance AI adoption in the financial sector by providing new means to record, track, and store financial asset transactions.

Growing awareness of the benefits of cloud-based firewalls among small- and medium-sized organizations, particularly in developing nations, will create numerous opportunities for market expansion. For instance, in May 2022, The Czech Republic Finance Ministry, a government ministry in charge of economic policy, revenue service, insurance, the government budget, banking, and security, initiated a project to maximize the potential of fintech apps and data used in financial services in the country. The project was implemented by the Organization for Economic Cooperation and Development and funded by the European Union in collaboration with the European Commission’s DG REFORM-Directorate-General for Structural Reform Support.

Furthermore, it will include a feasibility analysis of the possible formation of a sandbox in the Czech Republic and the prospects of data in financial services to let the fintech innovation be based on shared data. Fintech has been evolving in the investment management sector. Advanced technology and solution adoption, such as AI, big data, and machine learning, to assist businesses in evaluating investment possibilities, optimizing their investment portfolios, and mitigating related risks, have been significant in the technology adoption.

A prominent trend in AI in the fintech business is the widespread use and integration of smart mobile payment solutions as customers worldwide become more reliant on digital payment methods than traditional wallets. Many participants in the market provide payment platforms and are continually adding new features, such as voice commands and biometric access control, which includes fingerprint and facial recognition. For instance, in November 2021, Paytm, an Indian multinational financial technology provider, announced the launch of a new feature, ‘Voice Trading’, driven by AI, which allows customers to acquire stock information or place a trade with a single voice command. The voice trading function allows a single voice command to be processed instantly using neural networks and Natural Language Processing (NLP).

Related Press Release@ Artificial Intelligence in Fintech Market Report

Artificial Intelligence In Fintech Market Report Highlights

Some of the regions in North America have the most competitive and constantly changing AI technology in the world’s fintech sector. In the industrialized economies of Canada and the U.S., there is a strong emphasis on R&D-derived inventions
The adoption of software tools with the deployment of AI-enabled financial solutions extracts accurate, comprehensive, and enormous amounts of data on time
The growing adoption of managed services helps administer AI-enabled fintech applications and is expected to drive the market growth
Cloud-based solutions store vital resources and provide a wide range of flexible AI solutions for the fintech business. The segment generated the highest revenue in 2021
The North America region dominated the global market in 2021. However, Asia Pacific is projected to register the fastest CAGR from 2022 to 2030

Tuesday, 30 August 2022

Aircraft MRO Market Size is Expected to Experience a CAGR of 4.57% till 2030

The global Aircraft MRO Market size is anticipated to reach USD 129.25 billion by 2030, registering a CAGR of 4.57% from 2022 to 2030. According to a new report by Grand View Research, Inc. Aircraft, MRO implies overhaul, inspection, repair, and modification of aircraft and its components. Majorly the market is covered by the Original Equipment Manufacturing industries (OEMs) or Aerospace Engineering Service Providers (AESPs). The high-level EPSs are highly monitored with the help of the Service Level Agreement (SLA) to maintain a high level of confidentiality.

AXISCADES is a leading aircraft ESP with over two decades of experience in various aircraft areas. Furthermore, the advancement in predictive maintenance propelled the MRO industry with an increase in problems, technological and manpower related. Predictive maintenance requires innovative technologies, such as digital twins, through which rapid improvements and growths are detected within a short period. This states that not all organizations are fully equipped with the entire infrastructure, which also says that this concept has limited reach; few MRO are interested in investing to increase these skills among themselves.

The ongoing COVID-19 pandemic situation resulted in crises on a very large scale. Further, restrictions and cancellations of flights in a global effort to restrict the spread of the virus have reduced passenger traffic and restricted aircraft movement. Due to this, the aircraft MRO industry for maintenance, repair, and overhaul was affected significantly in 2020. But in 2021, decrease in travel restrictions and a steady increase in flight movements, the demand for aircraft maintenance, repair, and overhaul is anticipated to grow positively in forecasted years.

For instance, in September 2021, Civil aviation minister Jyotiraditya Scindia of India declared a recent MRO policy for civil aviation space, intending to attract investments for MRO services, including renting land via open bidding and canceling royalty charges by AAI. Further, the minister has allocated eight airports to attract investment for MRO installations. The following airports are Begumpet, Juhu, Tirupati, Telangana, Bhopal, Chennai, Chandigarh, Delhi, and Kolkata.

The integration of advanced engines in new aircraft is expected to create lucrative opportunities. For instance, in December 2021, the Saudi Arabia airlines flynas signed a multiple-year rate per flight hour (RPFH) contract with CFM international for the LEAP-1A engines joining the airline fleet of eighty Airbus A320 neo aircraft. Due to this agreement, CFM will ensure the airline’s 160 LEAP-1A engine maintenance cost per engine flight hour. This will help propel the growth of the engine MRO segment of the market during the forecast period.

Related Press Release@ Aircraft MRO Market Report

Aircraft MRO Market Report Highlights

The engine MRO market segment is expected to overpower the market in the coming years. OEMs control over half of the market in the engine maintenance sector, and the other half is roughly divided between independent and airline overhaul shops
The Asia-Pacific region is likely to overgrow over the forecasted period. The region presently holds 1/3rd of the global commercial aircraft fleet; with this growth potential and large fleet for the aviation industry in this region, many key MRO companies are increasing their presence in the global MRO market
For instance, in 2020, Pratt & Whitney extended its engine maintenance network with two new MRO providers of china. These are Aircraft Maintenance, And Engineering Corporation (Ameco) and MTU Maintenance Zhubai Co. Ltd.' Aim is to provide the maintenance for Airbus A320 neo family’s PW1100G-JM engines
Icing is one of the most significant threats to any aircraft and aviation industry. Accidents are likely to happen if proper care and De-Icing of flight are not done during takeoff and landing. So De-Icing should be done with appropriate MRO systems
For instance, in March 2022, a leading provider of aviation industry MRO services, ARR has signed an entire distribution agreement with Collins Aerospace’s Goodrich De-icing and specialty heating System business. The contract aims to provide the de-icers and heating systems to other aircraft and MROs across the globe

About Us:

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.

Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com

Monday, 29 August 2022

Game Applications Market: Future Trends, Revenue Growth & Leading Players, Forecasts To 2028

The global Games Applications Market size is expected to reach USD 241.07 billion by 2028 and is expected to grow at a CAGR of 13.3% from 2022 to 2028. With rapid digitalization, the penetration of smartphones with advanced hardware capabilities has increased over the last couple of years. In addition, there are very few entry barriers to this market. Gaming apps are the best alternative to video and computer games considering convenience. With the availability of resources, the development of the gaming app is less complex. Social media platforms, such as Facebook and Instagram, are also developing and offering a number of innovative gaming apps with a high level of differentiation and engaging end-users with games to enhance the advertising strategies. The Apple iOS store segment will register the highest CAGR from 2022 to 2028.

This can be credited to the growing demand for highly-secured and multitasking operating systems due to the data privacy of the end-users. Faster access and enhanced user interference are fueling market growth. Cloud storage, efficient battery use, and impeccable security to expert validated advice are reflecting the significant market growth during the forecast period. Europe also accounted for a significant revenue share in 2021 owing to the high demand for gaming apps from the consumers of the U.K., France, and Germany. Increasing adoption of the gaming apps and availability of a number of gaming options are the major driving forces of the regional market. The less complex and low-cost development processes of gaming apps are also boosting the market growth. Furthermore, the rising demand for online games via social media platforms will support the market growth.

Related Press Release@ Game Applications Market Report

Game Applications Market Report Highlights

Europe accounted for the largest revenue share of more than 19% in 2021. This growth can be attributed to the high demand for gaming apps from the consumers of the U.K., France, and Germany
The Apple iOS store segment is expected to register the fastest growth rate during the forecast period
This growth can be credited to the growing demand for secured operating systems from the smartphone users of the U.S. and U.K.
The market is characterized by the presence of various well-established multinationals and several small- and medium-scale companies
Software companies are focusing on research & development activities to launch the latest technology to improve the access speed and to increase the adoption of gaming apps

Friday, 26 August 2022

Influencer Marketing Platform Market Worth $143.10 Billion By 2030

The global Influencer Marketing Platform Market size is anticipated to reach USD 143.10 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 33.4% during the forecast period, according to a new report by Grand View Research, Inc. The growth can be attributed to the increasing need for end-to-end solutions for managing influencer-generated content, identifying social influencers, and analyzing influencer marketing campaigns. The elevating demand for these solutions across the industries, such as fashion, retail, cosmetics, and e-commerce, is expected to provide promising growth prospects to the influencer marketing platform market.

The market statistics are being further strengthened by the high adoption rate of virtual influencers based on Computer-Generated Imagery. Virtual influencers use demographic and audience data obtained from various platforms and consumer forums to provide more accurate results. In this regard, the fashion and lifestyle industry offers a wide scope for virtual influencers owing to their ability to stay abreast with fast fashion trends and higher creativity.

The changing content consumption trends are expected to drive the growth of the influencer marketing platform market in the upcoming years. For instance, the increasing demand for Over-The-Top (OTT) media services and their collaboration with influencers for to advertise and promote their content are opening new growth avenues for the influencer marketing platform market.

Apart from the aforementioned factors, the emergence of 5G technologies is also expected to provide an impetus to the influencer marketing platform market. The 5G technology offers improved connectivity and enhances automation of marketing practices, which, in turn, increases media consumption. Besides, 5G will also significantly increase the demand for digital video advertising due to greater bandwidth and connectivity. This will allow influencers to deliver high-resolution 4K video content, faster page loading, and a better click-through rate to the brands.

Related Press Release@ Influencer Marketing Platform Market Report

Influencer Marketing Platform Market Report Highlights

The influencer management segment is anticipated to observe significant growth during the forecast timeline owing to the increased adoption of influencer marketing strategies by the corporations
The SMEs segment is anticipated to record a substantial CAGR of nearly 35% through 2030, owing to the increased adoption in SMEs to implement more efficient and cost-effective marketing strategies
The influencer marketing platform market is estimated to record a CAGR of more than 36% from the sports and fitness segment by 2030, owing to the growing need for collaborations with fitness influencers across various countries
The Asia Pacific is estimated to capture a sizeable revenue share, expanding at a CAGR of over 37% during the forecast period due to the entry of numerous influencer marketing startups in China and India

Wednesday, 17 August 2022

Europe Digital Health Market Size Worth $323.4 Billion By 2030

The Europe Digital Health Market size is expected to reach USD 323.4 billion by 2030 and is expected to expand at a CAGR of 27.1% over the forecast period, according to a new report by Grand View Research, Inc. Increasing aging population, rise in prevalence of chronic disorders in Europe, and growing demand for remote patient monitoring are among the major factors driving the market growth in this region. In addition, improved IT infrastructure, growing digitalization of healthcare, and rising medical expenses are also anticipated to accelerate the market growth over the forecast period. Moreover, the shortage of healthcare professionals and overburdened healthcare facilities are also expected to increase the adoption of digital health platforms.

The mHealth technology segment held the dominant revenue share of 34.4% in 2021, owing to growing internet and smartphone penetration in Europe and increasing adoption of mHealth platforms by medical professionals for better patient engagement. In addition, the rise in government initiatives for the promotion and development of mHealth platforms also supports the high growth of the segment. For instance, in 2017, the mHealth hub program was initiated with the financial support of WHO-ITU and co-funded by the European Commission in Europe, to support different regions and countries in setting up large-scale programs for the integration of mHealth in the healthcare systems.

By component, the services segment dominated the market in 2021 with a revenue share of 63.7%, owing to the growing preference for healthcare platform upgrade services for better patient engagements in remote locations. In addition, training, staffing, maintenance, and resource allocation for pre and post-installation of digital platforms to provide better remote healthcare services also support the high growth of the segment. However, the software segment is anticipated to register the highest growth rate during forecast years owing to the rapid adoption of healthcare applications and increase in the development of improved technical advanced software for health management.

The demand for digital health platforms has increased due to the emergence of the COVID-19 pandemic. The fear of coronavirus infection decreased the in-person health consultation and increased the demand for virtual healthcare services which in turn favor the growth of the market over the forecast years. In addition, increasing demand for mobile health platforms among the medical professionals and the patients due to the lockdown and shutdown impact and staff shortage concerns during the COVID-19 pandemic also driving the market growth in 2020 and forecast years. The COVID-19 pandemic also creates immense opportunities for the market players to develop improved digital health platforms due to the surge in demand for mHealth applications, healthcare IT systems, virtual care, wearables, and telehealth, which in turn anticipated to fuel the market growth in this period.

Related Press Release@ Europe Digital Health Market Report

Europe Digital Health Market Report Highlights

The market size is anticipated to be valued at USD 323.4 billion by 2030, owing to the increasing aging population, rise in prevalence of chronic disorders, and growing demand for remote patient monitoring
The mHealth segment dominated the market in 2021 with a revenue share of 34.4%, due to growing internet and smartphone penetration and increasing adoption of mHealth platforms by the medical professionals for better patient engagement
The services segment held the dominant revenue share of 63.7% in 2021, owing to the growing preference for healthcare platform upgrade services for better patient engagements in remote locations