Artificial Intelligence – Page 37

2023 AI TAIWAN Future Commerce Was Rounded Off

July 5, 2023 Published by Roboticulized.com

A news report from Business Next Media Group:

The 3-day 2023 AI TAIWAN Future Commerce ended successfully on 6/17 (Sat) in Taipei. With the main theme as “AI FOR ALL”, the fair contained ten solution exhibition areas in total, and six new business application theme areas, including more than 200 enterprises to participate in more than 150 wonderful agenda during the exhibition, attracting a total of more than 16,000 people registered, moreover, we hit the record of more than 42,000 visitors in this three consecutive days exhibition, all these participants witnessed upcoming of AI era.

VIP guests come to the scene to feel the charm of generative AI

In view of the goal of 2050 net zero carbon emission, the curatorial team of Future Commerce especially worked with GoodPoint Exchange to create a demonstration area about ESG new business model, where fully presented the new business model of Marine waste, so that the visitors could go through the situation personally, our Vice president of the Executive Yuan Wen Tsan, Cheng also visited this area.

This area is divided into “collection” and “classification and recycling”, showing how to reduce the carbon emission of transportation by more than 30% through cross-industry and cross-departmental collaboration, from cleaning the ocean and the beach, then transport the waste, ends up to make 100% recycled furniture from sea waste raw materials. At the same time, companies will be given a report detailing their contribution to the environment through the use of these furniture, which will become part of the annual Corporate Sustainability Report, increasing the incentive for companies to participate in ESG.

In order to offer our participants a more comprehensive imagination about “AI FOR ALL”, we had the Future AI area on site. Since 2019, the Ministry of Digital Affairs has continued to promote the “AI Application Development Environment Promotion Plan”, with two main axes: Industrial AI and AI industrialization. As the highlights of the exhibition this year, the Ministry of Digital Affairs led potential AI solution providers such as: FAST AI, Aeolus Robotics, OmniEyes, Smart Ageing Tech, iAMBITION TECHNOLOGY, Tachyon Intelligence Robot, Gogolook, GRAPHEN TAIWAN, showing the industrial application of AI, attracting people to stop by and experience.

In addition, 2023 AI TAIWAN Future Commerce understands the infinite possibilities of the future sound economy, so during the fair, we had limited event to invite the audience to experience being Podcaster, personally feel the real working environment of recording Podcast, even Shi si, Wang, Vice Minister of Culture, also contributed her voice.

She especially mentioned when recording Podcast that the application of generative AI will bring enterprises more alternative choices in work, and in this stage of technological growth, we should focus more on how we can create value and bring maximum benefits with AI collaboration, and Shi si, Wang also firmly believes that the era of AI is a moment that will bring a better future and is worth looking forward to.

All industry viewpoints once in place, the eye-moving viewing experience attracts 30,000 interactions

Not only VIP guests visit 2023 AI TAIWAN Future Commerce, more than 150 events are on the agenda, the industry’s top lecturers share first-hand views, and filled the exhibition with lots of knowledge.

At a conference called “Microsoft Generative AI Practice Forum”, the director of Administration for Digital Industries, Zhenghua, Lu said that generative AI is reshaping the new look of future work, so that all industries can become more competitive because of the introduction of generative AI, and bring more inspiration to the market, the Administration for Digital Industries will also work together to establish the entire ecosystem.

Flora Chen, COO of Microsoft Taiwan, shared that enterprise resilience is the key when facing a crisis, and relying on AI assistance will be able to work more efficiently to enhance production capacity and create more work value.

“MarTech” was not only the area with the most stands in this exhibition, but also the most popular speech section of the Forum. Speakers such as Ben Yu, Youtube Greater China Strategic Partner Director, Susan Wang, general manager of LINE Taiwan Enterprise Solutions Business Group, and Andy Yeh, general manager of OneAD shared the importance of customization commerce in the future industrial world. Apart from continuing to uphold the core value of “people-oriented”, the enterprises must learn to display data-driven insights in a creative way, and respond rapidly to market changes, are the key elements of the brand to stand firm in the market and expand business.

Another highlight of 2023 AI TAIWAN Future Commerce is that we cooperated with LINE Biz-Solutions, +ing and Crescendo Lab, introduced eye tracker +Beacon technology, using LINE official account as the platform, provide the most personal experience for each visitor, with only a glance, you can get all key information about the exhibition. In the three days exhibition, create a total of more than 30,000 interactions, at the same time to strengthen the perfect integration of online and offline, we also built an online information desk to meet the needs of visitors in finding stands, looking for maps and activities, up to 30% of the participants believe that this is a great help to the exhibition.

2023 AI TAIWAN Future Commerce has always believed that encountering the fast pace and challenging market, only flexible, innovative and constantly integrating business models have the opportunity to develop sustainably. Driven by the theme of “AI FOR ALL” this year, it also allows people from different fields such as marketing, science and technology to see how many possible scenarios generative AI will bring, and look forward to more blooming applications in the near future.

By the theme of “AI FOR ALL” this year, it also allows people from different fields such as marketing, science and technology to see how many possible scenarios generative AI will bring, and look forward to more blooming applications in the near future.

SOURCE Business Next Media Group

Azentio secures top position across multiple categories in the IBSi Sales League Table 2023

July 5, 2023 Published by Roboticulized.com

Azentio Software (“Azentio”), a Singapore-headquartered technology firm owned by funds advised by Apax Partners, has announced that it has achieved top positions in multiple categories in the exclusive Leadership Club of IBS Intelligence (IBSi) Sales League Table (SLT) 2023, the globally acknowledged annual performance barometer for measuring technology supplier performance.

Azentio has been ranked Number One in the following categories:

Product Breadth
Islamic Banking I Retail Lending (for the Azentio ONEBanking platform)
Process Automation / BPM (for the Azentio Islamic Banking suite)
Insurtech (for the Azentio ONEInsurance platform).

The company has also been announced as the second highest ranked in these categories:

Regional Leaders – Middle East (for the Azentio ONEBanking platform and the Azentio Islamic Banking suite)
Best in Islamic Banking – Universal Core (for the Azentio Islamic Banking suite)
Best in Islamic Banking Universal Core – Middle East (for the Azentio Islamic Banking suite)
Best in Compliance Management (for Azentio ONEBanking – Risk & Analytics solution).

While IBSi SLT recognizes technology vendors’ sales performance across hundreds of system selection engagements carried out across the globe, the SLT Leadership Club identifies the prominent systems that have made their mark across various categories of systems as well as geographies.

Commenting on Azentio’s achievement, Nikhil Gokhale, Head of Research Platforms, IBSi, said, “Congratulations to Azentio for making it to the SLT Leadership Club 2023 across eight key categories, covering Islamic core and retail lending, compliance management, insurtech, and process automation, among others. Azentio’s impressive range of software products, which allows them to deliver tailored solutions for industry-specific challenges, was highlighted by their win in the Product Breadth category. These wins further confirm Azentio’s position as a leading player in the financial technology sector, showcasing the depth and breadth of their portfolio.”

Krish Narayanaswami, Managing Director – Banking, Financial Services, and Insurance at Azentio, stated, “We are delighted that Azentio has achieved top ranking in the eminent IBSi SLT Leadership Club 2023 across various categories, at both the global and regional levels. Being selected as Global Leader in Product Breadth truly establishes our solution suite as an all-encompassing and proven one on the market that has the product depth and vertical breadth to meet the unique industry needs of our clients. I believe this recognition highlights the trust placed in us by our valued clients and underscores their successes in overcoming unprecedented global challenges to thrive and prosper by leveraging continuous technology innovations.”

Intellectual Property Management Market to Reach $37.7 Billion, Globally, by 2032 at 16.3% CAGR: Allied Market Research

July 5, 2023 Published by Roboticulized.com

Allied Market Research published a report, titled, “Intellectual Property Management Market by Component (Software and Services), Deployment Mode (On-premise and Cloud), Application (Licensing, Patent Management, Trademark Management, and Others), End User (IT and Telecom, BFSI, Manufacturing, Healthcare, Automotive, and Others), and Region (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2022-2032.” According to the report, the global intellectual property management industry generated $8.6 billion in 2022, and is estimated to reach $37.7 billion by 2032, witnessing a CAGR of 16.3% from 2023 to 2032. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios.

Drivers, Restraints, and Opportunities:

The global intellectual property management market is experiencing growth due to several factors, including rapid modernization, and an increase in disputes. However, rising costs associated with protection and enforcement limit market growth. Moreover, greater emphasis on digitalization is expected to provide lucrative opportunities for market growth in the upcoming years.

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Report Coverage & Details:

Report Coverage	Details
Forecast Period	2023–2032
Base Year	2022
Market Size in 2022	$8.6 Billion
Market Size in 2032	$37.7 Billion
CAGR	16.3 %
No. of Pages in Report	254
Segments covered	Component, Deployment Mode, Application, End User, and Region
Drivers	Rapid modernization
Drivers	Increase the number of disputes
Opportunities	Greater emphasis on digitalization
Restraints	Rising costs associated with protection and enforcement

COVID-19 Scenario:

The outbreak of COVID-19 had a negative impact on the global intellectual property management market.
Though there has been huge growth in the intellectual property sector after the pandemic, a post-COVID world is more likely to encourage tech businesses to license their current IP portfolios and motivate their cash reserves.
Moreover, the demand for IP management services has increased due to the growing number of patent filings and the need for businesses to protect their intangible assets. During the anticipated time, this tendency will help the market for intellectual property management grow rapidly post-pandemic.

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

By component, the software segment held the major share in 2022, contributing to nearly three-fourths of the global intellectual property management market revenue, and is projected to maintain its leadership status throughout the forecast period. Due to a number of businesses implementing intellectual property management solutions for security and protection, the adoption of these solutions is further aided by the automated capabilities and improved visibility that digital immune technologies provide for identifying and thwarting threats. However, the services segment would showcase the fastest CAGR of 18.4% during the forecast period, owing to the use of software programmes that maximize the cost of an existing installation by optimizing it and reduce deployment costs and risks, all of which contribute to the growth of the market for intellectual property management.

The on-premise segment to maintain its dominance during the forecast period

By deployment mode, the on-premise segment contributed to the highest share in 2022, accounting for more than three-fifths of the global intellectual property management market revenue, and is expected to maintain its dominance during the forecast period. owing to a broad spectrum of advantages, including end-to-end control of the software, protection of intellectual property within the business, and the ability to manage significant customization of the software whenever required. On the other hand, the cloud segment would exhibit the fastest CAGR of 18.2% throughout the forecast period, owing to solutions hosted and maintained by a third-party provider. This enables enterprises to pay on a need-based basis and efficiently scale up or down depending on user requirements, overall consumption, and the growth of the company.

The IT and telecom segment to rule the roost by 2032

By end user, the IT and telecom segment accounted for nearly one-third of the global Intellectual property management market share in 2022 and are projected to rule the roost by 2032. Due to the fact that they offer a framework for sharing and licensing intellectual property. Intellectual property management also makes corporate partnerships and collaborations easier. The manufacturing segment would cite the fastest CAGR of 20.6% throughout the forecast period, owing to the identification, protection, and exploitation of a company’s intellectual assets, such as patents, trademarks, copyrights, and trade secrets, which constitute intellectual property management in the manufacturing industry.

Asia-Pacific garnered the major share in 2032

By region, North America held the major share in 2022, garnering more than one-third of the global intellectual property management market revenue. Due to the increase in the need to protect creations of the mind in the U.S., which is further driven by the economic, technological, and cultural significance of intellectual property, as well as the need to combat counterfeiting, piracy, and global competition. On the other hand, the Asia-Pacific region is projected to retain its dominance in terms of revenue by 2032. The same region would also portray the fastest CAGR of 19.3% during the forecast period. Owing to significant technological advancements in areas such as electronics, telecommunications, automotive industries, and consumer goods. As a result, these advancements have led to a surge in intellectual property creation and the need for effective management and protection.

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Leading Market Players

patrix ab
Clarivate plc
TM Cloud
Cardinal Intellectual Property
Questel
Patsnap
Anaqua, Inc.
Alt Legal, Inc.
Innovation Asset Group, Inc.
Gemalto NV (Thales Digital Identity and Security)

The report analyzes these key players in the global intellectual property management market. These players have adopted various strategies, such as expansion, new product launches, partnerships, and others, to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, developments, and product portfolios of every market player.

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Audio Amplifier Market to Reach $7 Billion, Globally, by 2032 at 5.2% CAGR: Allied Market Research

July 5, 2023 Published by Roboticulized.com

Allied Market Research published a report, titled, “Audio Amplifier Market by Class (A, B, A/B, D, Others), By Channel (Mono, 2-Channel, 4-Channel, Others), By End Use Device (Smartphones, Television Sets, Desktops and Laptops, Automotive Infotainment Systems, Tablets, Home Audio Systems, Professional Audio Systems): Global Opportunity Analysis and Industry Forecast, 2023-2032″. According to the report, the global audio amplifier industry generated $4.2 billion in 2022, and is projected to reach $7 billion by 2032, registering a CAGR of 5.2% from 2023 to 2032.

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Prime determinants of growth

The audio amplifier market is anticipated to expand significantly during the forecast period owing to an increase in demand for high-quality audio output. In addition, the growing traction of in-vehicle infotainment systems of audio amplifier devices fuels the market growth. Additionally, the audio amplifier is anticipated to benefit owing to the increase in the penetration of IoT and is expected to present enormous opportunities for the market over the forecast period. On the other hand, integration of audio amplification in consumer electronic devices is anticipated to restrain the market growth during the forecast period.

Report Coverage & Details:

Report Coverage	Details
Forecast Period	2022–2032
Base Year	2022
Market Size in 2022	$4.2 billion
Market Size in 2032	$7 billion
CAGR	5.2 %
No. of Pages in Report	325
Segments covered	Class, Channel, End Use Device, and Region.
Drivers	Increase in demand for high-quality audio output Growing traction of in-vehicle infotainment systems Increase in popularity of consumer electronic devices
Opportunities	Increase in the penetration of IoT Increase in popularity of audio-centric applications
Restraints	Competition from other technologies

COVID-19 Scenario

COVID-19’s impact on the audio amplifier market was negative because the consumer electronics industry had been severely harmed and supply chain were disrupted.
Social distancing norms led to unavailability of labor at the workplace. Many companies adopted for work-from-home.

The D class segment to maintain its leadership status throughout the forecast period.

Based on class, the D class segment held the highest market share in 2022, accounting for around two-fifths of the global audio amplifier market revenue and is estimated to maintain its leadership status throughout the forecast period, owing to their high-power efficiency and compact size. Moreover, the D class segment is projected to manifest the highest CAGR of 6.04% from 2023 to 2032, driven by the proliferation of smart home devices and Internet of Things (IoT) technology. In addition, D class amplifiers are integrated into various smart home devices such as voice-activated speakers, smart TVs, and home automation systems, providing efficient amplification with minimal heat generation.

The 2-Channel segment to maintain its leadership status throughout the forecast period.

Based on channel, the 2-Channel segment held the highest market share in 2022, accounting for more than one-third of the global audio amplifier market revenue and is estimated to maintain its leadership status throughout the forecast period. In addition, the 2-Channel segment is projected to manifest the highest CAGR of 6.27% from 2023 to 2032 due to the demand for premium audio systems and specialized installations in residential and commercial spaces. These trends and growth factors present significant opportunities for audio amplifier providers in the 2-channel segment.

The smartphones segment to maintain its leadership status throughout the forecast period.

Based on end use device, the smartphones segment held the highest market share in 2022, accounting for around one-third of the global audio amplifier market revenue and is estimated to maintain its leadership status throughout the forecast period, owing to advanced audio technologies such as enhanced digital-to-analog converters (DACs), dedicated audio amplifiers, and powerful signal processing algorithms. In addition, the home audio systems segment is projected to manifest the highest CAGR of 7.22% from 2023 to 2032 due to greater emphasis on energy-efficient and sustainable audio solutions. Moreover, there are future opportunities for audio amplifier manufacturers to develop energy-efficient amplifiers with advanced power management systems, reducing standby power usage, and eco-friendly production techniques. These factors collectively create a strong demand for audio amplifiers in the audio amplifier market.

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Asia-Pacific to maintain its dominance by 2032.

Based on region, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for nearly two-fifths of the global audio amplifier market revenue. This region is expected to witness the fastest CAGR of 5.93% from 2023 to 2032, owing to rise in investments in consumer electronics and automotive industries which are fueling the growth of the market in this region.

Leading Market Players: –

Analog Devices, Inc.
Cirrus Logic, Inc.
Infineon Technologies AG
JVCKENWOOD Corporation
NXP Semiconductors.
ON Semiconductor Corporation
Qualcomm Technologies, Inc
STMicroelectronics N.V.
Texas Instruments Incorporated.
Yamaha Corporation

The report provides a detailed analysis of these key players of the global audio amplifier market. These players have adopted different strategies such as product launch, product development, partnership, investment, acquisition, and others 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.

Key Benefits for Stakeholders

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the audio amplifier market analysis from 2022 to 2032 to identify the prevailing audio amplifier market opportunity.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the audio amplifier market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global audio amplifier market trends, key players, market segments, application areas, and market growth strategies.

Audio Amplifier Market Key Segments:

By End use Device

Smartphones
Television Sets
Desktops and Laptops
Automotive Infotainment Systems
Tablets
Home Audio Systems
Professional Audio Systems

By Class

A
B
A/B
D
others

By Channel

Mono
2-Channel
4-Channel
Others

By Region

North America (U.S., Canada, Mexico)
Europe (Germany, France, UK, Rest of Europe)
Asia-Pacific (China, India, Japan, South Korea, Rest of Asia-Pacific)
LAMEA (Latin America, Middle East, Africa)

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Lithium Iron Phosphate Batteries Market worth $35.5 billion by 2028 – Exclusive Report by MarketsandMarkets™

July 4, 2023 Published by Roboticulized.com

Lithium Iron Phosphate Batteries Market is projected to reach USD 35.5 billion in 2028 from USD 17.7 billion in 2023 at a CAGR of 14.9% according to a new report by MarketsandMarkets. Lithium Iron Phosphate (LiFePO4) batteries, also known as LFP batteries, are a type of rechargeable lithium-ion battery chemistry. They are composed of a cathode made of lithium iron phosphate and an anode made of carbon. LiFePO4 batteries are known for their high energy density, long cycle life, and excellent thermal stability. The market growth of LFP is driven by substantial need for battery-operated material-handling equipment. Transition from conventional power generation to renewable generation present promising opportunities for the lithium iron phosphate batteries market. However, the risks associated with disposal of spent lithium-based batteries has hindered the growth of the market in recent years and is expected to restrain the market’s growth during the forecast period.

Browse in-depth TOC on “Lithium Iron Phosphate Batteries Market“
317 – Tables
50 – Figures
290 – Pages

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Lithium Iron Phosphate Batteries Market Scope:

Report Coverage	Details
Market Size	USD 35.5 billion in 2028
Growth Rate	14.9% of CAGR
Largest Market	Asia Pacific
Market Dynamics	Drivers, Restraints, Opportunities & Challenges
Forecast Period	2023-2028
Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	By Design, Capacity, Industry, Application, Voltage and Region
Geographies Covered	Asia Pacific, North America, Europe, Middle East & Africa, and South America
Report Highlights	Updated financial information / product portfolio of players
Key Market Opportunities	Investments concerning LFP batteries by key global players
Key Market Drivers	Growing industrial automation space

The 50,001–100,000 mAh, by capacity, is expected to grow at the highest CAGR during the forecast period

Based on capacity, the lithium iron phosphate batteries market has been split into 0–16,250 mAh; 16,251–50,000 mAh; 50,001–100,000 mAh and 100,001–540,000 mAh. 50,001–100,000 mAh capacity batteries are expected to grow at the highest CAGR during the forecasted period. These batteries are used in industries where high power capacity is required. Major applications include EVs, plug-in HEVs, uninterrupted power supply, wind energy storage, electric robot, electric mower, solar energy storage, vacuum cleaner, golf cart, telecom, marine, defense, mobile, and floor machines. The types of batteries made for such high-power applications include lithium iron phosphate, lithium manganese oxide, lithium titanium oxide, and nickel manganese cobalt, and some are made in modular formats. Besides the modular format, the other formats include polymer, prismatic, energy storage systems, and battery packs.

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The high segment, by voltage, is expected to be the largest segment during the forecast period

This report segments the lithium iron phosphate batteries market based on voltage into three segments: low (Below 12V), medium (12–36V), and high (Above 36V). The high voltage segment is expected to be the largest segment during the forecast period. These high-voltage batteries are used for powering heavy electric vehicles, industrial applications, power backup, HEVs, energy storage systems, emergency power systems, microgrids, yachts, military, and marine applications. The batteries cannot be made of a single cell and hence require a module and sometimes an array of modules, power racks, power containers, and others. These systems can be made using lithium manganese oxide, lithium iron phosphate, nickel manganese cobalt, and lithium titanium oxide. The rising sustainability concerns and the consequent transition toward the adoption of EVs are expected to influence the adoption of these batteries, consequently increasing the demand.

Asia Pacific is expected to be the largest region in the Lithium Iron Phosphate Batteries Industry

Asia Pacific is expected to be the largest lithium iron phosphate batteries market during the forecast period. The Asia Pacific region, comprising major economies such as China, India, Japan, South Korea, and the Rest of Asia Pacific, which have a huge potential for several application areas within the lithium iron phosphate. In recent years, this region has emerged as a hub for automobile production. Recent infrastructure developments and industrialization activities in emerging nations have opened new avenues and opportunities for OEMs. Additionally, the increasing purchasing power of the population has stimulated the demand for automobiles, which would be a driving force for the growth of the lithium iron phosphate batteries market. Asia-Pacific region has a significant presence in the lithium-ion battery industry, both in terms of battery production and demand. Countries, particularly China, South Korea, and Japan, are major manufacturers of lithium-ion batteries. These countries have a well-established battery industry, with large-scale production facilities operated by companies such as BYD Company Ltd, CATL, CALB, LG Chem, and few other key players. They produce batteries for a wide range of applications, including electric vehicles, consumer electronics, and energy storage systems.

Key Market Players:

Some of the major players in the lithium iron phosphate batteries companies are BYD Company Ltd. (China), Contemporary Amperex Technology Co., Limited. (China), Gotion, Inc. (US), CALB (China), and A123 Systems LLC (US). The major strategies adopted by these players include product launches, contracts, agreements, and expansions.

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Recent Developments

In August 2022, Lithium Werks Inc. inaugurated the largest North American based Cathode Powder and Electrode production facility for lithium batteries.
In May 2022, Arun Plus Company Limited and Contemporary Amperex Technology Co., Limited have signed a strategic MOU to explore potential cooperation and development opportunities in battery-related business in ASEAN market.
In April 2022, BYD Company Ltd. had planned the construction of a new production facility in Zhejiang, China.
In December 2021, Byd Company Ltd. has released plans to increase battery production capacities in Jiangxi province, China.

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Residential Energy Storage Market worth $2,081 million by 2028 – Exclusive Report by MarketsandMarkets™

July 4, 2023 Published by Roboticulized.com

Residential Energy Storage Market is projected to reach USD 2,081 million in 2028 from USD 898 million in 2023 at a CAGR of 18.3% according to a new report by MarketsandMarkets. The Residential Energy Storage Market has promising growth potential due to the rising production of electric vehicles, initiatives by government, growing R & D investment in lithium-ion batteries.

Browse in-depth TOC on “Residential Energy Storage Market“
301 – Tables
61 – Figures
291 – Pages

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Residential Energy Storage Market Scope:

Report Coverage	Details
Market Size	USD 2,081 million in 2028
Growth Rate	18.3% of CAGR
Largest Market	Asia Pacific
Market Dynamics	Drivers, Restraints, Opportunities & Challenges
Forecast Period	2023-2028
Forecast Units	Value (USD Million)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	By Technology, power rating, connectivity type, ownership type, operation type and region
Geographies Covered	North America, Europe, Asia Pacific, South America and Middle East & Africa
Report Highlights	Updated financial information / product portfolio of players
Key Market Opportunities	Increasing installation of solar PV modules
Key Market Drivers	Significant demand for electric vehicles

By connectivity type, the on-grid segment is anticipated to rule the Residential Energy Storage Market during the forecast period.

The Residential Energy Storage Market is dominated by the on-grid segment. Due to its lower upfront costs than off-grid connectivity, it has a larger market share. Energy storage technologies occasionally also support extra functions like Transmission & Delivery (T&D) deferral, power quality assurance, voltage regulation, spinning reserve, and improved system reliability. Off-grid residential energy storage systems commonly combine renewable energy sources such as solar panels or wind turbines with energy storage technology to create a self-sufficient power supply. On-grid residential energy storage systems are connected to the electric grid, offering benefits like backup power during outages and optimizing energy usage. They charge batteries during off-peak hours and discharge during peak demand, enabling participation in grid programs and services like demand response.

By operation type, the Residential Energy Storage Market for solar and storage is anticipated to grow at the highest rate.

Solar and storage systems make up the largest portion of the Residential Energy Storage Market, which is segmented into standalone systems and solar and storage systems. Due to growing awareness and demand for energy independence, solar and storage are also anticipated to grow the fastest during the forecast period. The Residential Energy Storage Market provides standalone systems for backup power and load management, regardless of solar panel usage. Additionally, there is a growing demand for integrated solar and storage systems, optimizing self-consumption and energy independence.

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Asia Pacific region being the fastest growing Residential Energy Storage Industry

North America, Europe, Asia Pacific, the Middle East & Africa, and South America are the five geographic areas in which the Residential Energy Storage Market has been examined in this report. Due to the rapidly rising cost-competitiveness of solar-plus-storage solutions, which give residential consumers access to clean energy power and opportunities to lower their energy costs, Europe is currently a significant contributor to the Residential Energy Storage Market.

Key Market Players:

The report includes profiles of some of the leading players in the Residential Energy Storage Companies to help readers gain a thorough understanding of the market’s competitive environment.

Tesla (US), VARTA AG (Germany), Enphase Energy (US), BYD Company Ltd. (China), Sonnen GmbH (Germany), and LG Energy Solution (South Korea) are a few of the major players. The market’s top players are using a variety of tactics to gain market share for residential energy storage.

Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=153284325

Recent Developments

In September 2022, BYD Company partnered with Victron Energy to find out compatibility BYD Premium LVL / LVS and Victron inverters/chargers which was successfully completed.
In August 2022, Tesla partnered with Green Mountain Power (GMP) for the deployment of Powerwalls, Tesla’s home battery pack, in a decentralized way with electric utilities. The relatively small electric utility operating in Vermont was one of the earliest adopters of Tesla Powerwall.
In August 2022, Huawei Digital Power and Pinggao Group Co., Ltd have signed a Memorandum of Understanding (MoU) to strengthen their cooperation in the supply of innovative and reliable Huawei string inverters for PV plants in Balkan countries such as Greece, Bulgaria, and North Macedonia.
In February 2022, Enphase Energy announced a partnership with Swell Energy that, Enphase Energy Systems powered by IQTM Microinverters and IQTM Batteries will be able to participate in Swell’s distributed, virtual power plant (VPP) programs in California, New York, and Hawaii as a result of the collaboration.

Browse Adjacent Markets: Energy and Power Market Research Reports & Consulting

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Lithium-ion Battery Market – Global Forecast to 2031

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Grid-Scale Battery Market

Crown Records Management Partners with ibml to Enhance its Capabilities for Better Digital Transformation Outcomes

July 4, 2023 Published by Roboticulized.com

ibml, a global market leader in high-volume, mission-critical digitization and intelligent document processing solutions partners with Crown Records Management (Crown) to offer enhanced intelligent document processing services to Crown’s customers. This investment further underpins Crown’s 2027 Record Management Strategy and provides Crown’s customers with the most accurate digital document and information capture with secure access to both physical and digital records.

Crown provides a full suite of digital information management services, ranging from scan-on-demand, workflow automation to data preservation. The information management system provides complete oversight over how both physical and electronic data is created within an organization.

“Crown has helped organizations manage increasingly larger quantities of data and physical files for more than 50 years,” said Matt Read, Head of Digital Services UK&I for Crown. “Our partnership with ibml creates perfect synergies for both companies to support information capture as a vital component of digital transformation to deliver enhanced capabilities and better and faster outcomes for our customers. Our investment in new hardware and software enables us to continue to provide creative solutions to our clients, remaining cost effective in the market so that we can provide our own clients with the best return of investment.”

“Crown’s investment in ibml is a testament to our strength of helping organizations deliver their digital transformation strategy as well as providing the best image quality and the fastest intelligent document processing capabilities in the industry today,” said Ashley Keil, General Manager & VP EMEA of ibml. “We look forward to this partnership and helping Crown Records Management’s customers achieve faster turnaround times, improved decision making, improved vendor and customer relationships, and better quality archival and audit records.”

AI and Security: Ensuring That Opportunities Outweigh the Threats, Reports IDTechEx

July 4, 2023 Published by Roboticulized.com

Anyone with access to social media platforms will likely have heard of ChatGPT by now. Created by OpenAI and released in November 2022, the generative AI tool had 100 million registered users as of three months after release, with it – the world’s most advanced chatbot – being used to answer simple queries, write songs, and draft press releases, all with varying degrees of success. While in the creative domain, ChatGPT is not (yet) a match for the human mind, its capabilities are nothing less than staggering, with the potential to transform entire workflows. Yet, along with the opportunities afforded by generative AI, there are risks. In IDTechEx’s recent “AI Chips 2023-2033” report, IDTechEx forecast that the global AI chips market will grow to exceed US$250 billion by 2033, with the IT & Telecoms, BFSI (Banking, Financial Services and Industrial), and Consumer Electronics industry verticals leading the way in terms of revenue generated up to 2033. This growth is made possible by the growing complexities and functionalities of machine learning models, representing significant opportunities for both businesses and consumers. However, improper use of AI tools represents threats to the aforementioned groups. Measures must be taken to ensure that the opportunities afforded by advanced AI greatly outweigh the threats.

Questions of Ownership and Culpability

ChatGPT, DALL-E 2, and Siri are all examples of generative AI tools. These are systems capable of generating text, images, or other media in response to prompts, where the data produced is based on the training data sets employed to create and refine the models used. Current intellectual property (IP) laws are not particularly well-suited to account for the legal ownership of intangible assets such as those that AI tools such as these can generate. Patent law generally considers the inventor as the first owner of the invention. In the case of AI, who invents? The human creates the (initial) prompt, but it is the AI tool that creates the output. An AI may also be used to prompt other AI tools, and so AI can act as both the prompt and the creator. But granting an AI tool IP ownership status – as it currently stands – necessarily gives the AI the same status extended to a legal person.

Therein is the question of culpability and ethics; if the AI is the legal owner of a piece of work, then the human that deployed, commissioned, or used the AI tool is exempt from culpability. This could be considered unethical, as the human user should bear some responsibility for the ethical ramifications of using such an AI tool (particularly in the case of unlawful AI use, such as assistance with writing a script for malware). A possible way around this is to grant the AI the same legal status as a child, wherein the human user would be analogous to a child’s guardian, and so bear some responsibility, while the AI would still retain ownership. While this ensures that the human user bears responsibilities for the AI tool’s actions, it does not adequately address autonomous AI, where no human prompting is necessary. In addition, there may be some discomfort from legislators around bestowing legal status onto machines.

Other parties that should be considered are the developers of the AI tool, as well as the owners of the data that comprise the dataset used to train the AI tool (a key component of the reasoning behind Italy’s ban of ChatGPT in March 2023). The answer to ownership is one that will be sought more urgently as AI tools and their outputs grow, as they surely will over the coming years.

Malpractice

Where AI can be used for good intentions – such as assisting with the appropriate syntax for computer script writing and detecting fraudulent financial transactions – it can also be used for ill, ranging from the deceptive to the illegal. Given that generative AI tools can be used to assist with script writing, it does not particularly matter to the tool what type of script is being written. As such, generative AI can be used to assist with the writing of malware (malicious software). The AI tool used has, of course, not intentionally created a piece of malware, but this potential mistreatment of a nominally apathetic system needs to be addressed.

Generative AI is very effective for streamlining certain work functions, such as advertising copy and marketing materials. And yet, the question remains of ownership and culpability. From marketing to consumers (where companies will ultimately still be liable for ambiguous or defamatory language) to academic institutions (where the use of a language tool by a student to write a part of their thesis calls into question the legitimacy of their conferred degree), clear guidelines – regulatory and legal – need to be given for fair use of such tools.

Ultimately, we are still a long way off from the types of existential threats posed by AI that are central to seminal works of science fiction, such as 2001: A Space Odyssey and The Terminator. And yet, even as AI technology advances towards Artificial General Intelligence, clear practices and codes of conduct are needed to ensure that risks are appropriately mitigated, such that AI transforms industries for the better. Opportunities across the three aforementioned industry verticals and others are discussed in the new IDTechEx report, “AI Chips 2023-2033“.

Report Coverage

IDTechEx forecasts that the global AI chips market will grow to US$257.6 billion by 2033. The report covers the global AI Chips market across eight industry verticals, with 10-year granular forecasts in seven categories (such as by geography, chip architecture, and application). In addition to the revenue forecasts for AI chips, costs at each stage of the supply chain (design, manufacture, assembly, test & packaging, and operation) are quantified for a leading-edge AI chip. Rigorous calculations are provided, along with a customizable template for customer use, and analyses of comparative costs between leading and trailing edge node chips.

IDTechEx’s latest report, “AI Chips 2023-2033“, answers the major questions, challenges and opportunities faced by the AI chip value chain. For further understanding of the markets, players, technologies, opportunities, and challenges, please visit www.IDTechEx.com/AIChips.

Global Fintech Market Research 2023: A Bundled Research Offering of 5 Reports

July 3, 2023 Published by Roboticulized.com

The “Fintech Market Research Subscription 2023: Market Forecasts, Market Sectors, Market Driving Forces, Regional Analysis, and Leading Companies Analysis” report from Wintergreen Research, Inc has been added to ResearchAndMarkets.com’s offering.

The subscription includes access to five market studies (156 to 225 pages each) and 26 smaller market reports (35 pages each) for one year.

Fintech is comprised of computer programs and technology used to further automate banking and financial services. Fintech is one of the fastest-growing technology areas because it leverages AI to implement automation.

The use of digital payment solutions is accelerating. The need for the development of FinTech technologies is evolving from the increased demand for digital-based solutions. The expansion of e-commerce, omnichannel, and contactless payment solutions has accelerated. The number of digital payment transactions is anticipated to continue to grow.

An increasing percentage of digital payment transactions are being facilitated through emerging technologies. As a result, an increasing portion of future capital investment supports the development of new and emerging technologies, including technology modernization, innovation, and integration through strategic partnerships.

New markets continue to develop and expand in areas that have adopted digital transactions to replace paper-based transactions. Education, government, and healthcare manage recurring payments and B2B payments digitally. Markets continue to be impacted by transactions as migration to digital-based solutions occurs.

Development of new services and technologies, the emergence of new vertical markets, and continued expansion of technology-enabled e-commerce portend market growth. Omnichannel solutions are evolving. Scale expands market reach through cloud-based capabilities and strategic partnerships.

Full studies include Market Definition, Market Dynamics, Market Share, Market Forecasts, Market Sectors, Market Driving Forces, Regional Analysis, and Leading Company Analysis.

These reports are between 156 to 225 pages and are on the following topics:

AI and FinTech
CBDC
Blockchain
Smart Contracts
Crypto Currency

Smaller market management reports include market dynamics, market share, market forecasts, market driving forces, and regional analysis.

These reports are 35 pages each, packaged in groups of four, and on the following topics:

1. AI in the Banking Industry
2. Artificial Intelligence in Finance
3. Financial Services Industry-Specific Cloud.
4. Largest Fintech Companies
5. Digital Payments
6. Digital Assets & Regulations
7. Cryptocurrencies
8. Crypto tokens
9. NFT non-fungible tokens
10. ChatGPT programming in Python and others
11. Blockchain and DeFi
12. Web 3.0
13. Defi
14. EdTech
15. Cybersecurity
16. Fintech Projects
17. Blockchain and Cloud
18. Open Banking
19. Fintech and Middleware Messaging
20. Top 10 Crypto Fintech Companies
21. Top 10 Token Fintech Companies
22. Top 10 Fintech Banks
23. Top 10 Fintech Credit Card Companies
24. Top 10 Fintech Infrastructure Companies
25. Top 10 Fintech Tech Companies
26. Top 10 Wealthtech Fintech Companies

Key Topics Covered:

Sample Table of Contents: FinTech: Market Strategies and Forecasts, Worldwide, 2023-2029

1. Fintech Market Description and Market Dynamics
1.1 Payments Led the Last Era
1.2 FinTech Businesses in the Developed World
1.3 FinTech Businesses in the Under-Developed World
1.4 Regulators Must Be Proactive, Not Indifferent

2. FinTech Market Shares, Market Forecasts, Regional Analysis, and Market Segments
2.1 FinTech Market Growth Factors
2.2 FinTech Market Shares
2.3 FinTech Market Forecasts
2.4 FinTech Market Segments
2.4.1 Subscriptions/Fee
2.4.2 Robo-advisors
2.4.3 Third parties
2.4.4 Advertising
2.4.5 Data
2.4.6 APIs
2.5 FinTech Regional Analysis
2.5.1 US
2.5.2 Europe
2.5.3 Lithuania.
2.5.4 China
2.5.5 APAC

3. Fintech Investors, Technology, and Regulation
3.1 FinTech AI Technology
3.2 Investors / Consumer FinTech Apps
3.3 Late-Stage FinTech
3.4 FinTech Regulation
3.5 Crypto Tax Collection

4. FinTech Company Positioning
4.1 FinTech Financial Sectors
4.1.1 Top Fintech Stats
4.1.2 Fintech Industry Size Including Investments
4.2 Number Of FinTech Startups
4.2.1 Fintech Investment Statistics
4.2.2 VC Fintech Funding

5. Selected Leading FinTech Companies
5.1 Visa
5.2 Mastercard
5.3 Tencent
5.3.1 TenPay
5.4 Stripe
5.5 Adyen
5.6 Klarna
5.7 Varo
5.8 PayPal
5.9 Venmo
5.10 Alipay
5.11 Chinapay

6. Selected Smaller FinTech Companies
6.1 Creative Juice
6.2 Chipper Cash
6.3 EverScale
6.4 L4S
6.5 iCapital
6.6 Robinhood
6.7 PayPal
6.8 Plaid
6.9 Coinbase
6.10 Revolut
6.11 Fiserv
6.12 Mayfair
6.13 9fin
6.14 T-REX
6.15 Opto Investments
6.16 Pinwheel
6.17 Pontera
6.18 Rho
6.19 Circle
6.20 Tegus
6.21 Teampay

F&M BANK: DRIVING DIGITAL WHILE STAYING PERSONAL

July 3, 2023 Published by Roboticulized.com

Charles Driest is the newly-appointed Chief Experience Officer at Farmers & Merchants (F&M) Bank. A graduate of George Mason University in Virginia, and later St. John’s University in New York, he began his banking career shortly after returning to Virginia from New York in 2007.

Before this, Driest’s early career saw him employed by the Grocery Manufacturers Association (MGA), and, later, at the American think-tank, Brookings Institution. It was here he was struck with inspiration to retrain in finance by a former manager, Roberta Cohen.

Driest says: “She said if I didn’t go back to school she would fire me. This was probably my biggest inspiration. It amazes me that her voice is always in the back of my head, and when she told me that, it was about two decades ago.”

F&M Banks’s new Chief Experience Officer hasn’t exactly been short of inspiration, either: “I’ve been really lucky because I’ve had a lot of influencers in my career, with bosses and managers who have pushed me to take on new risks that perhaps I didn’t feel I was ready for, but gave me a great opportunity to learn.”

Beginning his banking career after reeducating in New York and returning to Virginia, Driest was again inspired to follow a digital path in his career. “One of the first CEOs I worked for taught me a valuable lesson; it’s how I got into the digital side of the banking business.

“At the time we didn’t have a good grasp of our digital spending at the organisation. My CEO asked me to break down the numbers to explain to executive management where the money was going. So I sifted through 12 months of invoices and began asking operational questions: where’s our money going? How do we better manage this?

“This is when I found out the business had these operational holes, while we didn’t have the right insights into the capabilities available to us that we were using. So my CEO said: ‘You found the problems, go fix them’. This is what got me into digital banking, furthering my career by putting me into a situation I wouldn’t necessarily have been comfortable in initially.”

This valuable experience in digital banking saw Driest become F&M Bank’s Director of Digital Banking sometime after, a role he had for “14 to 15 months” before being promoted to F&M Bank’s Chief Experience Officer.

Despite his brief time in the role so far, Driest says: “Taking on three new reports has been a lot of fun. I really enjoy the personnel management aspect of things. I like watching the development of people. From my perspective, I really like to see the process of a team getting onto one page, because it has a powerful multiplying effect. The pace of work speeds up when everybody is in sync.”

Achieving synchronisation for the now is key to driving growth in the future, according to Driest, who has deep excitement for the future of banking as the proliferation of fintechs continues, believing community banking will endure despite the growth of technology.

He concludes: “I’ve seen some of the biggest developments in banking over the years, and I feel even with all the fintechs out there, I think ultimately, community banking will survive. If there’s one thing banks are very good with, it’s about integrating technology that is focused on the customer.

“For anyone that talks about the speed of fintech growth, fundamentally, it still relies on people, and people don’t change habits that quickly. The arc of change and the pace of change will always be constrained by people at the end of the day. So, as long as you’re making good decisions and always looking ahead by two to three years at a time – it doesn’t matter what type of bank you are – you’ll probably end up in a good place.”

F&M Bank has been featured in the July issue of FinTech Magazine

In this exclusive interview, Charles Driest, Chief Experience Officer, discussed striking the right balance between digital innovation and a personal customer approach.

“The future is technology and people, that’s what is going to win the day – not one or the other”

BizClik’s FinTech portfolio connects banking, financial services, payments, technology & consulting brands and their most senior executives with the latest FinTech trends, industry insight, and influential FinTech, InsurTech & Crypto projects as the world embraces CX, Business Transformation and Digital Ecosystems. FinTech Magazine and its entire portfolio is now an established and trusted voice on all things FinTech, engaging with a highly targeted audience of 113,000 global executives. We provide key industry players with the perfect platform to showcase their brands, develop content syndication plans, webinars, white papers, demand generation as well as a global set of events (In-Person & Virtual).

BizClik is a UK-based media company with a global portfolio of leading industry, business and lifestyle digital communities.

BizClik’s portfolio includes Technology & AI, Finance & Insurance, Manufacturing & Supply Chain, Energy & Mining, Construction, Healthcare, Mobile & Data Centres and EV. For further information, please visit https://www.bizclikmedia.com/

You can read the report in the latest issue of FinTech Magazine by clicking HERE

CONTACT: Andrew Stubbings, [email protected], 01603 217530

SOURCE FinTech Magazine

Tag: Artificial Intelligence

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F&M BANK: DRIVING DIGITAL WHILE STAYING PERSONAL

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