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AI Market to Grow 12.3% in 2020 Despite Challenges, as Forecasted by IDC Analysts
Worldwide revenues for the artificial intelligence (AI) market, including software, hardware, and services, are expected to total $156.5 billion in 2020, an increase of 12.3% over 2019. While this year's growth is somewhat slower than previous years due to the economic impact of COVID-19, International Data Corporation (IDC) believes investment in AI will recover quickly. A new forecast from the IDC Worldwide Semiannual Artificial Intelligence Tracker shows worldwide revenues surpassing $300 billion in 2024 with a five-year compound annual growth rate (CAGR) of 17.1%.
Worldwide Public Cloud Revenue to Grow 6.3% in 2020, Predicts Gartner
With Desktop as a service (DaaS) expected to have the most significant growth in 2020 — increasing 95.4% to $1.2 billion — the overall worldwide public cloud services market is forecast to grow 6.3% in 2020 to total $257.9 billion, up from $242.7 billion in 2019, according to Gartner, Inc. DaaS offers an inexpensive option for enterprises that are supporting the surge of remote workers and their need to securely access enterprise applications from multiple devices and locations.
60% of Hybrid Workers will Prioritize a Wellness-Equipped Smart Office Over a Remote Office By 2022, Predicts Gartner
An increase in remote working employees and under-utilization of existing office spaces due to the COVID-19 pandemic will trigger a need for smart, wellness-equipped office spaces in the future, according to Gartner, Inc.
Millions of Employees Want to Work from Home Forever -- Strategy Analytics
Widespread home-based working will result in the elimination of billions of commuter journeys and a decline in office-based working environments of 22%, according to a new study by Strategy Analytics.
72% of Remote Workers Have Gained Cybersecurity Awareness During Lockdown -- Trend Micro
Nearly three quarters (72%) of remote workers say they are more conscious of their organisation’s cybersecurity policies since lockdown began, but many are breaking the rules anyway due to limited understanding or resource constraints, according to research from Trend Micro, a global leader in cybersecurity solutions.
Worldwide PC Shipments Grew 2.8% in 2Q20 -- Gartner
Worldwide PC shipments totaled 64.8 million units in the second quarter of 2020 (2Q20), a 2.8% increase from the second quarter of 2019 (2Q19), according to preliminary results by Gartner. After a significant decline in the first quarter of the year (1Q20) due to COVID-19-related supply chain disruptions, the PC market returned to growth as vendors restocked their channels and mobile PC demand increased.
Post-COVID Smart Home Device Markets Set to Rebound in 2021 -- Strategy Analytics
Strategy Analytics forecasts global consumer spending in 2020 on smart home related devices will drop to $44 billion in 2020, from $52 billion in 2019, due to the economic downturn as a result of the COVID-19 outbreak. However, the market will recover in 2021, and consumer spending will increase in 2021 to $62 billion. Strategy Analytics forecasts the global smart home device market will continue to grow at a CAGR of 155, reaching $88 billion in 2025.
European OEMs Increase Competition in the Connected Car Market Due to Expected Growth in Connected Services and HMI -- Frost & Sullivan
Original equipment manufacturers (OEMs) in Europe are competing for the top position in the connected car segment as its two key domains, connected services and human-machine interfaces (HMI), unlock tremendous growth prospects by offering new revenue streams, as revealed by Frost & Sullivan’s recent analysis. Telematics services are expected to achieve a penetration of 90% in Europe, while more than 60% of vehicles will have wider (12.3+ inch) infotainment displays controlled by touch or gestures, with artificial intelligence (AI)-based digital assistants being omnipresent, by 2025.
Global AV Market Takes $20 Billion Hit Due to COVID-19, Expected to Recover by 2022 -- AVIXA and Omdia
The global pro AV industry took a $20 billion hit thanks to the Covid-19 pandemic but will grow $56 billion from its 2019 peak by 2025, according to the latest research from AVIXA and Omdia. In its 2020 AV Industry Outlook and Trends Analysis (IOTA), industry association AVIXA in conjunction with Omdia, said the global market would not return to its 2019 peak of $259 billion until 2022.
82% of Company Leaders Plan to Allow Employees to Work Remotely -- Gartner
82% of company leaders intend to permit remote working some of the time as employees return to the workplace, as revealed by a Gartner survey of company leaders from HR, Legal and Compliance, Finance, and Real Estate departments. For many organizations with employees working both onsite and remotely, adapting to a new, more complex hybrid workforce is the challenge as how people work together to get their job done evolves.
Worldwide IT Spending to Decline 7.3% in 2020 -- Gartner
Worldwide IT spending is projected to decline by 7.3% from 2019 according to the latest forecast by Gartner, totaling just $3.5 trillion in 2020. While the global economy is expected to witness a ‘swoosh’ recovery, IT spending will experience more of a ‘swoop’ recovery.
Hospital Capacity Management Solutions Market to Reach Value of $99 Million by the End of 2020 Due to Adoption of RTLS and Cloud Monitoring -- FMI
The hospital capacity management solutions market is slated to reach a value of $99 million by the end of 2020 according to Future Market Insight's (FMI) recent report. Management solutions, such as real time location systems (RTLS) and cloud-based monitoring, help to increase hospitals’ operational efficiency. The demand for these technologies has increased drastically since the outbreak of COVID-19.
Smart Speakers Market Experiences an 8.2% Sales Growth Despite COVID-19 – Strategy Analytics
Despite the COVID-19 pandemic, global sales of smart speakers in Q1 2020 reached $28.2 million units, an increase of 8.2% on Q1 2019, according to new research from Strategy Analytics. Amazon remained the leading brand with a share of 23.5%, up from 21.5% in the same period a year ago. Google retained second place with a 19.3% share, compared to 17.9% in Q1 2019.
Increased Demand for Technical Ceramics due to Environmental Concerns -- Frost & Sullivan
Due to rising environmental concerns and stringent regulations by governments (especially in the European region) Frost & Sullivan project a growing demand for a wide variety of goods made of technical ceramics. This increased demand should further propel innovation and research and development (R&D) efforts in the technical ceramics market.
AI Improved Accuracy and Efficiency of Cervical Cancer Screening -- NCI
In a new study published by the National Cancer Institute (NCI), a computer algorithm improved the accuracy and efficiency of cervical cancer screening compared with cytology (Pap test), the current standard for follow-up of women who test positive with primary human papillomavirus (HPV) screening. The new approach uses artificial intelligence (AI) to automate dual-stain evaluation and has clear implications for clinical care. The algorithm was developed and the study conducted by investigators at the NCI, part of the National Institutes of Health (NIH), in collaboration with researchers from several other institutions.
AR/VR Markets Forecasted to Recover from 2021 to 2025, Increasing Shipments Substaintially -- Strategy Analytics
Strategy Analytics predicts a strong recovery for the global Augmented Reality (AR) and Virtual Reality (VR) markets in 2021 after COVID-driven contraction in 2020. This recovery is expected to be spurred on by a 6 fold increase in XR (the combination of AR and VR) shipments, recent consumer-friendly innovations to AR headsets, and the adoption of smartphone-tethered VR.
Intelligent Pumps with Analytics Capabilities Are Expected to be the New Norm -- Frost & Sullivan
A recent analysis by Frost & Sullivan’s found that an average of 50% to 60% of pump original equipment manufacturers’ (OEMs’) revenue is expected to be generated from services-related activities, such as real-time monitoring and reliability services. This will result in the pump industry transitioning from a product-based to a service-based model in the wake of Industrial Internet of Things (IIoT) in this digitalization era. Global pump revenue is estimated to reach $46.92 billion by 2025 from approximately $38.34 billion in 2019.
Mobile Augmented Reality Receives Impetus as Consumers Rely on Virtual Experiences -- FMI
The mobile augmented reality (AR) market is projected to have an impressive surge in growth prospects in the short-term and long-term forecast, reaching a valuation of $24 billion by 2030 as reported by a study from Future Market Insights (FMI).
AI Adoption Being Driven by Improved Customer Experience, Greater Employee Efficiency, and Accelerated Innovation -- IDC
More than 2,000 IT and line of business (LoB) decision makers confirms that adoption of artificial intelligence (AI) is growing worldwide, as shown by a recent survey conducted by the International Data Corporation (IDC). Over a quarter of all AI initiatives are already in production and more than one third are in advanced development stages, and organizations are reporting an increase in their AI spending this year.
Increased Demand for IoT Cyber Protection to Lead Embedded Hardware Security Shipments to Hit $5 Billion by 2024 – ABI Research
In the ongoing push for more secure internet of things (IoT) devices and applications, the hardware choices for embedded security are growing dynamically. Research from ABI research forecasts that shipments for secure hardware serving digital authentication and embedded security will double that of 2019, reaching $5.3 billion by 2024.