SAN DIEGO, Oct. 14, 2024 /PRNewswire/ — Tri-City Healthcare District (“Tri-City”) announces a data incident that impacted some protected health information stored on its network.

On November 9, 2023, Tri-City detected suspicious activity on its network and immediately began an investigation. The investigation included the assistance of third-party specialists and determined an unknown party accessed certain files on Tri-City’s network on November 8, 2023. Therefore, Tri-City began a comprehensive review of the files at issue to determine the information the files contained and to whom the information related. Tri-City’s review included the assistance of third-party data review specialists and determined the potentially impacted information included the following types of information related to some patients of hospitals in the Aurora area including name, address, date of birth, Social Security number, medical treatment/diagnosis information, dates of service, health insurance provider name, health insurance claim information, and/or treatment cost.

In response to this incident, Tri-City notified law enforcement and implemented additional security measures to further minimize the risk of a similar incident occurring in the future. While Tri-City has no reason to believe any of the information described above has been misused, in an abundance of caution, Tri-City is providing individuals access to credit monitoring and identity protection services.

In response to this incident, Tri-City implemented additional security measures to further minimize the risk of a similar incident occurring in the future. Tri-City also notified law enforcement and is reviewing its policies and procedures related to data protection. Tri-City has no reason to believe any information has been or will be misused as a result of this incident. However, Tri-City is providing individuals access to credit monitoring and identity protection services as an added precaution. If you have questions about this incident or would like to enroll in the credit monitoring and identity protection services, please call Tri-City dedicated assistance line at 1-888-783-9173 between the hours of 6:00 a.m. to 6:00 p.m. PT, Monday through Friday, excluding holidays. You may also write to Tri-City Healthcare District at 4002 Vista Way, Oceanside, CA 92056.

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SOURCE Tri-City Healthcare District

NEW YORK, Oct. 14, 2024 /PRNewswire/ — Report on how AI is driving market transformation – The Global Automation Solutions for Renewable Power Generation Market size is estimated to grow by USD 3.15 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 4.8% during the forecast period. aggressive policies supporting growth of renewable power generation is driving market growth, with a trend towards inception of new business models of automation solutions. However, cost challenges due to retrofitting automation solutions in conventional devices and machines poses a challenge – Key market players include ABB Ltd., Beckhoff Automation, Bosch Rexroth AG, Delta Electronics Inc., Eaton Corp plc, Emerson Electric Co., Fuji Electric Co. Ltd., GE Grid Solutions, Hitachi Energy Ltd., Honeywell International Inc., Intel Corp., Mitsubishi Electric Corp., OMRON Corp., Pilz GmbH and Co. KG, Rockwell Automation Inc., Schneider Electric SE, Siemens AG, Tata Power Co. Ltd., Toshiba Corp., and Yokogawa Electric Corp..

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Market Driver

The Automation Solutions for Renewable Power Generation market is witnessing a significant trend with the emergence of Energy as a Service (EaaS) business models. EaaS enables customers to access energy solutions through subscription-based services, reducing the need for substantial upfront investments. This model allows businesses to outsource energy management, including installation and maintenance of renewable technologies. Advanced technologies like smart meters and IoT devices are integrated, enhancing operational efficiency and real-time energy consumption monitoring. EaaS also facilitates decentralized energy systems, enabling peer-to-peer energy trading and optimizing energy usage. As sustainability becomes a priority, EaaS provides flexible, scalable solutions that align with environmental objectives. This shift democratizes access to renewable energy and fosters innovation in energy management practices across various sectors, driving market growth during the forecast period.

The global automation solution market for renewable power generation is on the rise, driven by the increasing adoption of clean energy sources such as solar farms, wind farms, hydroelectric operations, and biomass operations. Robotic automation and process automation are key trends in this sector, enabling operational efficiency and reducing costs. Renewable power plants, including solar PV installations, solar energy, wind energy, wind power, hydropower, and biomass, are leveraging Programmable Logic Controllers (PLCs), predictive analytics software, real-time data analytics, and predictive maintenance algorithms for intelligent control. Smart grid technologies, such as prepaid grid integration and demand response, are essential for managing variable energy sources from renewable power plants. The renewable sector, including solar, wind, hydro, and biomass, is focused on climate change mitigation, environmental sustainability, and subsidies. Artificial intelligence, machine learning, distributed energy resources, and cybersecurity measures, including micro grids and blockchain, are critical for managing renewable power generation assets and ensuring grid stability. Cybersecurity solutions are also crucial to protect against greenhouse gas emissions and safeguard against cyber threats. 

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Market Challenges

Automation solutions in renewable power generation offer numerous benefits, but integrating these systems into existing infrastructure involves substantial investment and effort. Companies must conduct a cost-benefit analysis before purchasing new automation systems, ensuring they are compatible with advanced solutions or can be retrofitted with smart devices. The proliferation of various automation devices necessitates a common operational framework for secure and effective communication. Failure to integrate systems may hinder market growth during the forecast period. Companies must carefully evaluate the compatibility and integration capabilities of potential automation solutions to maximize returns and minimize costs.In today’s business environment, the renewable power generation market faces numerous challenges, including meeting clean energy demands in the face of climate change and environmental sustainability. Subsidies for renewable sources are crucial, but operational efficiency is key to profitability. Variable energy sources like Solar PV and Wind Power require smart grid technologies, artificial intelligence, and machine learning for effective management. Distributed energy resources, micro grids, and blockchain offer solutions for energy market volatility. Cybersecurity measures are essential to protect against cyber threats. Renewable power plants, from Solar PV installations to Hydropower and Biomass, require asset management, process control, and remote monitoring for optimal performance. Next-generation digital technologies like AI and IoT solutions can help reduce downtime and improve asset performance. Government investment in renewable energy sectors is vital to meet global energy demand and reduce carbon footprint. Renewable energy generation from Renewable Energy Sectors like Solar Energy, Wind Energy, and Hydropower is crucial to combat greenhouse gases and power our world sustainably.

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Segment Overview 

This automation solutions for renewable power generation market report extensively covers market segmentation by

End-user 1.1 Solar energy1.2 Wind energy1.3 OthersApplication 2.1 Asset management2.2 Process control2.3 Remote monitoring2.4 OthersGeography 3.1 APAC3.2 North America3.3 Europe3.4 Middle East and Africa3.5 South America

1.1 Solar energy- Automation plays a crucial role in optimizing the performance of solar power plants by addressing the challenges of controlling complex systems. Advanced algorithms are essential due to the difficulty of managing solar power plant systems with conventional control solutions. Automation solutions in solar power plants perform several functions, including calculating solar reflector positions, self-calibration and prediction of reflectors, and computing sun and normal vectors. These systems also help reduce structural and mechanical errors, monitor and analyze solar PV plant performance, and ensure high performance, reduced downtime, and fault detection. ABB Ltd, a major player in the market, recently achieved a milestone of delivering automation to 5-GW solar power plants in India, highlighting the growing demand for these solutions. The market is expected to grow due to factors such as the need for efficient and productive solar power plants, increasing adoption of renewable energy, and the scalability and distributed architecture of automation solutions.

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Research Analysis

The global automation solutions market for renewable power generation is a rapidly growing sector, driven by the increasing adoption of renewable sources for power production. Automation plays a crucial role in optimizing the performance and efficiency of renewable power plants, including solar farms, wind farms, hydroelectric operations, and biomass operations. Robotic automation and process automation are key technologies used to streamline operations and reduce costs. Distributed Control Systems (DCS) and Programmable Logic Controllers (PLC) are essential components of renewable power plant automation, enabling real-time process control and monitoring. Predictive analytics software helps optimize performance, reduce downtime, and minimize greenhouse gas emissions. Renewable power plants, including solar PV installations, solar energy, wind energy, wind power, hydropower, and biomass, all benefit from automation solutions. Asset management and process control systems, along with remote monitoring capabilities, ensure optimal performance and reliability in the renewable sector. The renewable energy sector continues to evolve, with automation solutions playing a vital role in maximizing the potential of renewable power plants and reducing their carbon footprint.

Market Research Overview

The global automation solutions market for renewable power generation is a rapidly growing sector, driven by the increasing adoption of clean energy sources such as solar farms, wind farms, hydroelectric operations, and biomass operations in response to climate change and environmental sustainability initiatives. Renewable power generation faces unique challenges due to the variable nature of these energy sources, requiring advanced automation solutions. Robotic automation and process automation play crucial roles in optimizing renewable power generation, with Programmable Logic Controllers (PLCs) and Predictive analytics software enabling real-time data analytics and Predictive maintenance algorithms. Intelligent control algorithms, Prepaid grid integration, and Demand response systems help manage energy production and distribution efficiently. Renewable energy sectors, including Solar Power, Wind Power, Hydropower, and Biomass, are integrating Next-Generation Digital Technologies like Artificial Intelligence (AI), Machine Learning, and Internet of Things (IoT) Solutions to enhance operational efficiency and Asset Performance. Cybersecurity measures, Micro grids, Blockchain, and Cybersecurity solutions are essential to ensure grid security and reliability. Government investment, subsidies, and the energy market’s evolving landscape are key factors influencing the renewable sector’s growth. Renewable energy generation from Solar PV modules, Wind Turbines, and Biomass plants contributes significantly to reducing the global energy demand’s carbon footprint. As renewable energy sources become increasingly important, automation solutions will continue to play a pivotal role in ensuring their operational efficiency and reliability.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

End-userSolar EnergyWind EnergyOthersApplicationAsset ManagementProcess ControlRemote MonitoringOthersGeographyAPACNorth AmericaEuropeMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

NEW YORK, Oct. 14, 2024 /PRNewswire/ — Report with market evolution powered by AI – The Global Alternative Finance Market  size is estimated to grow by USD 64.3 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 7.44%  during the forecast period. Emergence of social media associated with growing digital connectivity is driving market growth, with a trend towards rapid growth in APAC. However, high risk of credit default  poses a challenge – Key market players include Bondora Capital OU, CircleUp Network Inc., ConnectionPoint Systems Inc., Crowdfunder Ltd., Fundable LLC, Funding Circle Holdings plc, Funding Options Ltd., Fundrise LLC, GoFundMe Inc., Indiegogo Inc., Invoice Interchange Pvt. Ltd., Kickstarter PBC, Kriya Finance Ltd., Lending Crowd, LendingClub Corp., OFB Tech Pvt. Ltd., RealCrowd Inc., Sancus Lending Group Ltd, Trade Ledger Pty. Ltd., and Upstart Network Inc..

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Key Market Trends Fueling Growth

In Asia Pacific (APAC), the increasing number of Small and Medium Enterprises (SMEs) is fueling the demand for alternative finance solutions. Alternative finance platforms, such as Peer-to-Peer (P2P) lending, crowdfunding, and invoice trading, are gaining popularity due to their ease of access and flexibility. These platforms provide SMEs with increased access to credit and equity, enabling them to invest in business growth. Moreover, the growing Internet penetration and the widespread use of smartphones in APAC are encouraging individuals to use these platforms. This trend is expected to boost the growth of the global alternative finance market during the forecast period. 

Alternative finance is revolutionizing the way founders access financial services solutions. Conventional big banks are no longer the only game in town. Online lenders, reward-based and equity crowdfunding platforms, invoice trading, and peer-to-peer lending are trending financing options. Debt-based crowdfunding and microfinance institutions provide loans to borrowers. Investors are increasingly turning to alternative finance for diverse financial products. Awareness and standardization are driving industry expansion. Industry professionals forecast significant growth in the lending industry. Economic uncertainty and credit risk are pushing businesses towards alternative finance channels. Regulated banks and alternative lenders coexist in the fintech landscape. Digital currencies like Bitcoin and Ethereum are also part of the alternative finance scene. Estimations suggest alternative finance will benchmark traditional finance system procedures and instruments. IoT, Artificial Intelligence, and Machine Learning are transforming alternative finance. Regulatory environment plays a crucial role in industry growth. 

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Market Challenges

Alternative finance markets provide funding options for borrowers who don’t meet the criteria of traditional financial institutions due to lack of collateral or poor credit ratings. However, the high risk of credit default in this sector discourages many investors. For instance, LendingClub and Prosper Marketplace have default rates of around 10%-14% for loans with a three-year payback period. Funding Circle’s long-term loan default rate is lower, ranging between 5%-7%. High-risk lenders like Bondora Capital have higher default rates, up to 25%-30%. This high risk may deter potential investors, potentially impacting the growth of the alternative finance market.Alternative finance is disrupting the traditional lending industry with innovative financial products like peer-to-peer lending and debt-based crowdfunding. Industry professionals estimate that this market will continue to grow, surpassing the USD300 billion mark by 2025. However, challenges persist, including economic uncertainty and credit risk. Regulatory environment varies for different platforms, with some like Fundly and Mintos operating in a more permissive space than microfinance institutions. Digital currencies such as Bitcoin and Ethereum have also entered the scene, adding complexity with their volatility and regulatory ambiguity. Benchmarking and estimations are crucial for investors, who can use traditional finance system’s regulated banks as a benchmark. Fintech companies leverage IoT, AI, and machine learning to streamline procedures and offer diverse financial instruments. Equity-based crowdfunding, social impact bonds, SME mini-bonds, community shares, private placement, shadow banking, disintermediation, and fintech companies are all part of the alternative finance landscape. Regulatory clarity and risk management are key to ensuring the sustainability of this sector.

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Segment Overview 

This alternative finance market report extensively covers market segmentation by

Type 1.1 P2P lending1.2 Crowdfunding1.3 Invoice tradingEnd-user 2.1 Individual2.2 OrganizationGeography 3.1 North America3.2 APAC3.3 Europe3.4 South America3.5 Middle East and Africa

1.1 P2P lending-  The Alternative Finance Market refers to financing options outside of traditional banks and financial institutions. This includes peer-to-peer lending, crowdfunding, and invoice financing. Businesses turn to alternative finance for faster access to funds, lower fees, and more flexible terms. These platforms use technology to streamline the application process and provide transparency. They cater to various sectors, from start-ups to small and medium-sized enterprises. By offering innovative solutions, alternative finance platforms enhance financial inclusion and support growth.

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Research Analysis

Alternative finance refers to financial channels and instruments that bypass the conventional big banks and provide innovative financial services solutions for founders and businesses. These include online lenders, reward-based and equity crowdfunding, invoice trading, social impact bonds, SME mini-bonds, community shares, private placement, and alternative lenders. The alternative finance market is driven by fintech, IoT, Artificial Intelligence, and Machine Learning, enabling faster, more efficient, and more accessible financing options. Instruments like equity-based crowdfunding, cryptocurrencies, and peer-to-peer lending are disrupting the traditional finance system, leading to disintermediation and new opportunities for entrepreneurs and investors. Alternative finance procedures are often more flexible and agile, making them attractive for businesses that may not fit the criteria of regulated banks. Shadow banking, a significant part of the alternative finance market, provides financing outside the regulatory framework of the traditional banking system.

Market Research Overview

Alternative finance refers to financial services solutions outside of the conventional big banks, empowering founders and borrowers to access various financial products and instruments. Debt financing alternatives include peer-to-peer lending, debt-based crowdfunding, invoice trading, and microfinance institutions. Equity financing options consist of venture capital, reward-based crowdfunding, equity crowdfunding, and private placement. Industry expansion is driven by awareness, standardization, and the regulatory environment. Alternative finance encompasses online lenders, crowdfunding platforms, and fintech companies. Economic uncertainty and credit risk are addressed through benchmarking, estimations, and industry professionals. The lending industry is evolving with fintech innovations like IoT, artificial intelligence, and machine learning. Digital currencies, such as Bitcoin and Ethereum, are also gaining traction. Social impact bonds, SME mini-bonds, community shares, and private placement are additional financial channels. Shadow banking and disintermediation are significant aspects of the alternative finance landscape. Regulated banks and alternative lenders coexist, with fintech companies driving disruption. The alternative finance market continues to grow, offering diverse financial solutions for borrowers and investors alike.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TypeP2P LendingCrowdfundingInvoice TradingEnd-userIndividualOrganizationGeographyNorth AmericaAPACEuropeSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio