Technology Market report

Friday, 1 March 2024

AI Governance Market by Nike, Inc.; Adidas Group; MIZUNO Corporation; Shock Doctor, Inc.

The global AI Governance Market size is projected to reach USD 1,418.3 million by 2030, according to a study conducted by Grand View Research, Inc., recording a 35.6% CAGR during the forecast period. Owing to the increasing benefits of Al, businesses, and governments across the globe are beginning projects to adopt artificial intelligence (Al) and machine learning (ML) technologies and establish themselves as market leaders. To embrace Al governance solutions, government organizations from many nations are creating councils, new rules and regulations, and frameworks. The main goals of governments using Al governance solutions are to increase public trust in Al technology and to preserve private information and civil rights. Additionally, several businesses have established committees in partnership with suppliers of Al solutions, academic institutions, and research centers to identify risk issues for Al technology.

Cloud providers progressively implement ethical norms and principles to ensure AI workloads, which are developed and utilized responsibly. Cloud providers work with governing bodies, regulatory agencies, and other organizations to create AI governance frameworks. These collaborations pool knowledge from several fields to create comprehensive and efficient AI governance frameworks. For instance, In February 2022, Virtana announced the creation of a platform for managing hybrid cloud installations that use machine learning, artificial intelligence, and data analytics. With this platform's observability, customers can manage app workloads in private, public, multi-cloud, and hybrid environments.

Explainability and transparency are critical components of AI governance in healthcare. Healthcare professionals and patients must comprehend how AI algorithms function to enhance patient care. Healthcare AI governance frameworks strongly emphasize the requirement for concise and open explanations of AI algorithms' operation. All medical technologies are developed by businesses or through public-private partnerships. IoT has several applications in healthcare and can improve physician treatment delivery while keeping patients healthy and safe. As a result, there is an increase in demand for Al governance in healthcare, which is projected to fuel the growth of the segment in the future.

North America is one of the early adopters of AI technologies and is predicted to generate substantial prospects for industry growth. For instance, the U.S. national plan has recommended the creation of an AI research & development and implementation framework to assist organizations in integrating ethical considerations into the R&D while maintaining public engagement and better organization marketing. Additionally, the American government is actively implementing AI governance measures. Following the Department of Defense's AI strategy aims, the government announced adopting AI ethical standards, easing the moral and legal use of AI systems by the U.S. military and related companies.

List of Key Players in Artificial Intelligence (AI) Governance Market

ABB Ltd
DXC Technology Company
IBM Corporation
Infosys Ltd
Microsoft Corporation
NTT Data
Oracle Inc
SAP SE
Siemens SA
Tata Communication Services (TCS) Ltd
TIBCO

Related Press Release@ AI Governance Market Report

AI Governance Market Report Highlights

The global market is forecasted to expand at a CAGR of 35.6% over the forecast period
Based on vertical, the government and defense segment dominated the market for AI governance in 2022
Healthcare facilities across the globe are utilizing AI systems to identify diseases through a patient's voice or a chest x-ray. Several nations have also proposed surveillance systems to track the person-to-person spread of several viruses. From Asia to Europe, several organizations from the public & private sectors have joined forces to track the spread of the various viruses using AI-based technology
The solutions segment is anticipated to expand throughout the projected time frame for several reasons, including increasing user adoption for AI-based systems, growing dependency, among others
Prominent players in the market include ABB, DXC Technology Company, IBM, Infosys, Microsoft, NTT Data, Oracle, SAP SE, Siemens, Tata Communication Services (TCS), TIBCO

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AI Governance Market Segmentation

Grand View Research has segmented the global AI governance market based on component, deployment, organization size, vertical, and region:

Artificial Intelligence (AI) Governance Component Outlook (Revenue, USD Million; 2017 - 2030)

Solution
Services

Artificial Intelligence (AI) Governance Deployment Outlook (Revenue, USD Million; 2017 - 2030)

On-Premises
Cloud

Artificial Intelligence (AI) Governance Organization Size Outlook (Revenue, USD Million; 2017 - 2030)

Large Enterprise
SMEs

Artificial Intelligence (AI) Governance Vertical Outlook (Revenue, USD Million; 2017 - 2030)

BFSI
Government and Defense
Healthcare and life sciences
Media and Entertainment
Retail
IT and Telecommunication
Automotive
Others (Education, Travel and Tourism, Manufacturing and Etc.)

Artificial Intelligence (AI) Governance Regional Outlook (Revenue, USD Million; 2017 - 2030)

North America

U.S.
Canada

Europe

Germany
U.K.
France

Asia Pacific

China
Japan
India
South Korea
Australia

Latin America

Brazil
Mexico

Middle East and Africa

Kingdom of Saudi Arabia (KSA)
UAE
South Africa

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

Wednesday, 28 February 2024

Customer Data Platform Market Size is Predicted to Witness 27.5% CAGR till 2025

The global Customer Data Platform Market size is expected to reach USD 5.66 billion by 2025, registering a CAGR of 27.5% from 2019 to 2025, according to the new study conducted by Grand View Research, Inc. The growing demand for assimilating and storing unstructured and structured consumer data, automatically obtained from various media touchpoints, is driving the adoption of CDP among B2B and B2C marketers. Furthermore, the need to engage and improve customer lifecycle by comprehending the collected insights is also contributing to the growth of the market.

Currently, brands and marketers accumulate huge volumes of customer data in the form of demographic, behavioral, and transactional segments. The collected data points are either stored as databases by a different organization or by departments of the company. This poses challenges pertaining to data tracking and data redundancy. Furthermore, information gathering based on cross-platform and online activities for customer conversion and engagement also remains a challenge for marketers. These factors are driving the demand for a customer database platform, which can assimilate and store data points in a unified behavior.

Unified customer profiles enable marketers to enhance their marketing strategies and improve customer experience. Retail and consumer goods were the early adopters of customer data platforms and the adoption gradually increased among the financial services, travel, IT and Telecom, and healthcare verticals. The growing importance of first-party customer data and the rise in adoption of omnichannel media among marketers are the other factors contributing to the market growth. The addition of machine learning and AI technologies is expected to enable enterprises to easily select a list of profiles using predictive modeling and other tactical applications, further driving the customer data platform market growth.

The increasing number of CDP vendors, who are raising higher funds, is driving the market growth. In 2018, CDP vendors generated funds worth more than USD 1.5 billion and registered a growth by 48% in funding as compared to the previous year. As per the CDP Institute’s study, the industry witnessed an increase in the number of CDP vendors from 77 vendors in 2018 to 96 vendors in July 2019. These factors are expected to lead to considerable growth of the CDP market over the forecast period.

Related Press Release@ Customer Data Platform Market Report

Customer Data Platform Market Report Highlights

The analytics segment growth can be attributed to the high demand for automating segmentation lists and marketing & analysis of products using predictive modeling & machine learning technology-based models
The retail application segment accounted for more than 28% of the market share 2018 owing to use of CDP to engage customers, improve customer loyalty, and enhance consumer experience
The North American regional market accounted for the largest revenue share in 2018 and is anticipated to continue to dominate the CDP market over the forecast period
The key industry participants include ActionIQ; Adobe; AgileOne; ENSIGHTEN; mParticle, Inc.; NGDATA, Inc.; Salesforce.com, Inc.; Segment.io, Inc.; and Tealium.

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Customer Data Platform Market Segmentation

Grand View Research has segmented the global customer data platform market on the basis of type, application, and region.

Customer Data Platform Type Outlook (Revenue, USD Million, 2015 - 2025)

Analytics
Campaign
Access

Customer Data Platform Application Outlook (Revenue, USD Million, 2015 - 2025)

Retail
Banking, Financial Services, and Insurance (BFSI)
Telecom, Media, and Technology (TMT)
Travel
Healthcare
Discrete Manufacturing
Others

Customer Data Platform Regional Outlook (Revenue, USD Million, 2015 - 2025)

North America

U.S.
Canada

Europe

U.K.
France
Netherlands

Asia Pacific

China
India
Japan
Australia

Latin America

Brazil

Middle East & Africa

Monday, 26 February 2024

Autonomous Ships Market Size is Predicted to Witness 13.5% CAGR till 2025

The global Autonomous Ships Market size is expected to reach USD 13.4 billion by 2025, registering a CAGR of 13.5% over the forecast period, according to a new study conducted by Grand View Research, Inc. Autonomous ships use several systems and components including sensors, propulsion systems, and intelligent navigation systems involving the use to Artificial Intelligence (AI) and Internet of Things (IoT). Use of such systems reduces the operational cost of ships, which is one of the key factors driving the market growth.

Autonomous ships offer several direct and indirect benefits. Direct benefits can be listed at the level of vessel that include more efficient use of crew and their skills, more efficient use of ship space, and increased fuel efficiency. Shipping companies would witness a positive effect in terms of revenue with autonomous applications as a result of reduction in cost of employing sailors along with the increased cargo space on the vessel. Moreover, autonomous shipping permits improved optimization of processes and operations. Real-time data is used for optimizing the operations thereby providing economies of scale at the company’s level. Additionally, service quality and safety during the fleet would be highly improved through the use of autonomous shipping.

Shipping companies are increasingly investing in developing and testing the practical applications of autonomous ships to gain insights on the possible lags in critical applications of these vessels, such as defense. Although huge amount of time would be invested in simulation and testing of unmanned vessels across critical applications, maritime system and service providers are developing advanced and intelligent maritime systems to be deployed in these unmanned ships. The growing acceptance of remotely controlled systems and software coupled with increasing investment in autonomous maritime environment is expected to provide several growth avenues for the autonomous ships market.

Furthermore, advent of autonomous shipping would pave the way for new suppliers, especially the suppliers of hardware and software system and technology suppliers in the maritime industry. Additionally, the unmanned ships require less reaction time in performance of systems as compared to systems used in cars and airplanes. Therefore, marine industry becomes more lucrative for system and software suppliers to enter. However, stringent regulatory environment pertaining to the use of autonomous vessels makes maritime industry a tough business environment to enter.

Related Press Release@ Autonomous Ships Market Report

Further key findings from the study suggest:

· The fully autonomous ships segment is expected to register a CAGR of more than 17% over the forecast period, owing to the reduced manpower in autonomous shipping environment

· The systems and solutions segment held the largest market share in 2018, primarily due to the increased deployment of these systems in multi-purpose vessels

· The commercial segment dominated the autonomous ships market in 2018 and is expected to hold the largest revenue share by 2025, owing to the safety and ease in deployment of autonomous systems in commercial vessels

· Asia Pacific is expected to account for the highest market share, followed by Europe, by 2025 owing to the high investments in R&D of autonomous maritime environment across countries, especially China

· ABB, Rolls-Royce, Wartsila, Kongsberg Gruppen, Rh Marine, L3 ASV, and Siemens are some of the key players operating in the market

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Grand View Research has segmented the global autonomous ships market on the basis of autonomy level, solutions, end use, and region:

Autonomous Ships Autonomy Level Outlook (Revenue, USD Million, 2015 - 2025)

· Semi-autonomous

· Fully Autonomous

Autonomous Ships Solutions Outlook (Revenue, USD Million, 2015 - 2025)

· Systems & Software

· Structure

Autonomous Ships End-use Outlook (Revenue, USD Million, 2015 - 2025)

· Commercial

o Passenger Cruise

o Bulk Carrier & Container Ships

o Tankers

o Others

· Defense

o Submarines

o Aircraft Carriers

o Destroyers

o Frigates

Autonomous Ships Regional Outlook (Revenue, USD Million, 2015 - 2025)

· North America

o U.S.

o Canada

· Europe

o U.K.

o Germany

o France

· Asia Pacific

o China

o India

o Japan

· Latin America

o Brazil

o Mexico

· Middle East & Africa

Wednesday, 21 February 2024

Satellite Payload Market by Airbus Group, Honeywell International Inc., Lockheed Martin Corporation, Raytheon Corporation, and The Boeing Company

The global Satellite Payloads Market size is expected to reach USD 21.8 billion by 2025, according to a new report by Grand View Research, Inc. The market is expected to witness a CAGR of 7.9% over the forecast period, owing to Increased government spending in space exploration activities is expected to boost the market growth over the forecast period.

The growing popularity of communication and broadcasting services including pay TV and Over-The-Top (OTT) have led providers to develop advanced payload systems. Moreover, the increased penetration of payloads in the commercial sector is expected to propel the market demand.

The market is expected to witness significant growth as there has been a great rise in the ordering and manufacturing of vast constellations of satellites for earth observation and telecommunication. Incremental improvements in launch operations and vehicle design are enabling a reduction in time for the manufacturing of payloads. Moreover, the evolution of small satellites is leading to the production of smaller payloads to reduce launch costs.

The need for geospatial tracking and positioning in the commercial sector is expected to drive the demand for satellite payloads over the forecast period. The emergence of high throughput satellites has resulted in high data-rate satellite transmission capability, which in turn is creating new opportunities for enhanced applications such as military, navigation, and commercial.

Satellite Payload Market Report Highlights

The remote sensing segment is expected to grow at a CAGR of over 8.0% over the forecast period as it is expected to emerge as a viable platform in the agriculture and mining sectors
The Low Earth Orbit (LEO) segment is expected to be the fastest-growing segment; this growth can be attributed to its increased demand in earth observation and imaging applications
The commercial segment is expected to grow at the fastest CAGR of over 9% from 2017 to 2025. Growing advancements including channelization, space-based inflatable reflector antenna, multi-beam antenna, and internet routers are expected to propel the demand for commercial satellite payloads.
The Asia Pacific satellite payloads market is expected to account for a revenue share of over 30% by 2025, with the increase in the number of satellite launches and government spending in space research contributing to the regional demand
The key players in the industry include Airbus S.A.S., Harris Corporation, Lockheed Martin Corporation, Honeywell International Inc., and The Boeing Company

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Satellite Payloads Market Segmentation

Grand View Research has segmented the satellite payloads market by orbit, application, end-use, and region.

Satellite Payloads Orbit Outlook (Revenue, USD Billion; 2014 - 2025)

Low Earth Orbit (LEO)
Medium Earth Orbit (MEO)
Geostationary Earth Orbit (GEO)

Satellite Payloads Application Outlook (Revenue, USD Billion; 2014 - 2025)

Communication & Navigation
Remote Sensing
Surveillance
Others

Satellite Payloads End-Use Outlook (Revenue, USD Billion; 2014 - 2025)

Civil
Military
Commercial

Satellite Payloads Regional Outlook (Revenue, USD Billion; 2014 - 2025)

North America

The U.S.
Canada

Europe

The U.K.
Germany

Asia Pacific

China
India
Japan

Latin America

Brazil
Mexico

Middle East & Africa