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Artificial Intelligence Market to Grow by USD 41.02 Billion (2024-2028), Driven by Rising Adoption of Cloud-Based Services, AI-Powered Report Highlights Market Trends – Technavio

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NEW YORK, Nov. 13, 2024 /PRNewswire/ — Report on how AI is redefining market landscape – The global artificial intelligence market size is estimated to grow by USD 41.02 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 30.9% during the forecast period. Rise in adoption of cloud-based applications and services is driving market growth, with a trend towards increasing digitalization and internet penetration. However, lack of skilled professionals poses a challenge.Key market players include Accenture Plc, Adobe Inc., Alphabet Inc., Amazon.com Inc., Appier Group Inc., CognitiveScale, GUMGUM Inc., InsideSales, Intel Corp., International Business Machines Corp., Meta Platforms Inc., Microsoft Corp., NVIDIA Corp., Oculus360, Oracle Corp., Persado Holdings plc, Salesforce Inc., Samsung Electronics Co. Ltd., and SAP SE.

AI-Powered Market Evolution Insights. Our comprehensive market report ready with the latest trends, growth opportunities, and strategic analysis- View Free Sample Report PDF

Forecast period

2024-2028

Base Year

2023

Historic Data

Segment Covered

Deployment (On-premises and Cloud) and Geography (North America, APAC, Europe, Middle East and Africa, and South America)

Region Covered

North America, APAC, Europe, Middle East and Africa, and South America

Key companies profiled

Accenture Plc, Adobe Inc., Alphabet Inc., Amazon.com Inc., Appier Group Inc., CognitiveScale, GUMGUM Inc., InsideSales, Intel Corp., International Business Machines Corp., Meta Platforms Inc., Microsoft Corp., NVIDIA Corp., Oculus360, Oracle Corp., Persado Holdings plc, Salesforce Inc., Samsung Electronics Co. Ltd., and SAP SE

Key Market Trends Fueling Growth

The digitalization trend is driving the global economy forward by collecting, organizing, and enhancing data for innovative uses. With over 5 billion internet users worldwide, representing 63% of the global population, and 4.65 billion social media users, the availability of vast user data is a significant market opportunity. In the US, there were 298.8 million internet users in January 2021, a 3.7% increase from 2020. Internet penetration in the US reached 90%, with the average user spending 32 hours online per month, 16 hours more than the global average. AI’s integration into social media marketing is increasing, with platforms like Pattern 89 and HubSpot using AI to manage and optimize ad campaigns. AI-generated commercials analyze campaign success and offer recommendations for improvement, contributing to market expansion globally. 

Artificial Intelligence (AI) is revolutionizing marketing by providing personalized experiences for consumers. Companies like Youper use AI for mental health care and emotional health support through personalized conversations based on psychological techniques. AI enables product-driven marketing strategies by analyzing customer data, including purchase history and browsing behavior, to deliver customized recommendations. AI also enhances customer service and support by automating decisions based on data collected and analyzed. Businesses employ AI marketing software for email marketing campaigns, social networks, and smartphone assistants to meet advertiser’s objectives and cater to their target market with messaging tailored to individual preferences. AI interprets IoT-generated data to improve customer experience, order repetition, and customer loyalty. High-speed internet and digital interactions enable real-time ad targeting and personalized ad experiences. AI-driven marketing strategies contribute significantly to business development by enhancing customer satisfaction and improving overall performance. 

Insights on how AI is driving innovation, efficiency, and market growth- Request Sample!

Market Challenges

The integration of Artificial Intelligence (AI) in marketing is a growing trend, yet the lack of technical expertise within workforces poses a challenge for market expansion. End-users must have a solid understanding of AI software platforms and the ability to perform regular updates to ensure smooth operations. The fear of technical complexities often deters companies from implementing AI in social media platforms. Before adopting AI/ML algorithms on a large scale, businesses must carefully consider suitable use-cases. These investments can be substantial, making AI an unattainable luxury for many companies. The shortage of AI expertise is hindering the development of advanced AI technology. Currently, the industry focuses on creating narrow AI, resulting in slower adoption rates in industries like advertising. However, the advancement of AI has also led to the creation of new jobs and training opportunities. Despite this, the shrinking AI developer community could negatively impact the global AI in marketing market expansion during the forecast period.Artificial Intelligence (AI) is revolutionizing marketing by providing innovative services and solutions. However, businesses face challenges in implementing AI in areas like customer support, content curation, search engine marketing, social media advertising, and sales & marketing automation. Services require integrating AI with existing systems, while customer support needs context-aware computing for effective solutions. Virtual assistants and sales solutions offer personalized experiences, but require natural language processing and computer vision capabilities. Analytics platforms and machine learning offer real-time data insights, essential for customer-centric marketing strategies. Healthcare industry marketing benefits from AI in patient engagement, dynamic pricing, and offering personalized care to potential patients based on demographic trends. Challenges include hardware requirements, cloud vs. On-premises deployment, and integrating AI with search advertising and dynamic pricing. AI research in generative technology and natural language processing holds great potential. Overall, AI in marketing offers significant benefits, but requires careful planning and implementation.

Insights into how AI is reshaping industries and driving growth- Download a Sample Report

Segment Overview

This artificial intelligence market report extensively covers market segmentation by

Deployment 1.1 On-premises1.2 CloudGeography 2.1 North America2.2 APAC2.3 Europe2.4 Middle East and Africa2.5 South America

1.1 On-premises- The on-premises segment of Artificial Intelligence (AI) in Marketing is projected to experience significant growth in market revenue compared to cloud-based deployment during the forecast period. On-premise marketing, also known as merchandizing and local store marketing, enables businesses to reach customers in real-time. Retailers, including department and grocery shops, restaurants, showrooms, and vehicle dealers, employ on-premise marketing to influence customer behavior. AI and machine learning (ML) technologies are increasingly used in on-premise marketing, offering targeted, real-time advertising and customer behavior analytics. Companies like Advertima Vision AG provide AI-based customer behavior analytics platforms, offering smart signage and targeted advertising without relying on facial recognition. SPAR, Volvo, and Mercedes-Benz are among its clients. On-premises deployment of AI applications offers advantages such as higher security, control, and reduced total cost of ownership, making it a preferred choice for organizations dealing with sensitive data. The adoption of on-premises AI solutions contributes to market growth during the forecast period.

Download complimentary Sample Report to gain insights into AI’s impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data ( – ) 

Research Analysis

Artificial Intelligence (AI) is revolutionizing marketing strategies by enhancing efficacy and efficiency in various ways. AI-based technology analyzes consumer behavior through data filtering, predictive analytics, and real-time data to create targeted marketing campaigns. Social media marketing and commercials are improved with personalized conversations using chatbots. In healthcare industry marketing, AI assists in on-site engagement, conversion, and catering to potential patients based on demographic trends. AI-driven marketing strategies in mental health care platforms like Youper use emotional health analysis, personalized conversations, and psychological techniques to provide a superior overall patient experience. AI’s product-driven marketing strategy focuses on understanding consumer needs, while a customer-centric strategy ensures tailored interactions for each demographic group. AI’s role in marketing is transformative, reducing marketing expenditure and maximizing conversion rates.

Market Research Overview

Artificial Intelligence (AI) is revolutionizing marketing strategies by bringing efficacy and efficiency to various aspects of marketing expenditure. AI-based technology, such as predictive analytics, sentiment analysis, and machine learning algorithms, is transforming how businesses understand consumer behavior and preferences. AI marketing plans utilize data filtering and real-time analysis to optimize social media marketing, commercials, and digital communication. Virtual assistants, chatbots, and context-aware computing offer personalized customer relationship services and sales & marketing automation. AI skills are essential for businesses to automate keyword research, market expansion, and content curation in search engine marketing and social media advertising. The healthcare industry is leveraging AI for patient engagement, dynamic pricing, and overall patient experience. Generative AI research is exploring new offerings in mental health care, emotional health, and personalized conversations using psychological techniques. AI technology is also being deployed in the enterprise and BFSI industries for hardware, cloud, and on-premises solutions, as well as sales solutions and analytics platforms using natural language processing and computer vision. AI is transforming marketing by providing customer-centric strategies, virtual assistant applications, and real-time data analysis for demographic trends and conversion optimization.

Table of Contents:

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

DeploymentOn-premisesCloudGeographyNorth AmericaAPACEuropeMiddle 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

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Marvion Inc. Subsidiary Signs Agreement with Engineering Firm for Construction of New State-of-the-Art Warehouse Facility

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HONG KONG, Nov. 14, 2024 /PRNewswire/ — Marvion Inc. (OTC: MVNC) is pleased to announce that its subsidiary United Warehouse Management Limited has officially signed a quotation agreement with Star Warehouse Engineering Limited for the construction of a new, state-of-the-art warehouse facility. The new warehouse will be strategically located to support the company’s growing logistics and storage operations, underscoring MVNC’s commitment to scaling up its infrastructure to meet the increasing market demand.

The new warehouse will feature two floors, each spanning 18,000 square feet, for a total floor area of 36,000 square feet. This expansion is set to enhance MVNC’s storage capabilities, streamline supply chain efficiency, and optimize logistics operations to better serve its expanding customer base.

Strategic Infrastructure Investment to Drive Long-Term Growth

This significant investment marks a crucial step in MVNC’s long-term strategic plan to solidify its position as a leader in the logistics and storage services sector. The new warehouse will not only bolster the company’s existing storage capacity but also enable the integration of advanced logistics and storage technologies. The facility will be equipped with modern automated systems with artificial intelligence engine to support high-volume inventory management and faster turnaround times, further strengthening MVNC’s competitive advantage in the region.

Commenting on this milestone, Mr. Chan Sze Yu, CEO of Marvion Inc., said:
“This new warehouse is a testament to our commitment to expanding our infrastructure to meet the ever-growing demand in the logistics industry. By investing in this state-of-the-art facility, we are positioning Marvion to better serve our clients and seize emerging opportunities in the market. This project will not only enhance our operational efficiency but also increase our capacity to support strategic partners like FedEx, SF Express, and other key clients.”

Supporting Sustainable Growth in the Asia-Pacific Region

Aligned with MVNC’s sustainability goals, the new facility will incorporate environmentally friendly design elements, such as energy-efficient lighting systems and optimized insulation to reduce energy consumption. These initiatives underscore MVNC’s dedication to promoting sustainable business practices while driving growth.

The construction is scheduled to begin in Q4 2024, with completion expected by the end Q2 2025. The new facility is projected to generate significant operational synergies, contributing to the company’s continued revenue growth and profitability.

About Marvion Inc.

Marvion Inc. (OTC: MVNC) is a leading logistics and warehousing solutions provider based in Hong Kong. The company specializes in offering one-stop transport and storage services to business clients, leveraging advanced digital technologies and efficient inventory management systems.

Company Website: www.unitedksk.com

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American Liver Foundation Hosts the 33rd Annual Irwin M. Arias Symposium

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Virtual and in-person event, Bridging Basic Science and Liver Disease, brings together hundreds of leading biomedical scientists and physicians from across the globe 

FAIRFIELD, N.J., Nov. 14, 2024 /PRNewswire/ — American Liver Foundation is excited to host its 33rd annual Irwin M. Arias Symposium, Bridging Basic Science and Liver Disease, on Wednesday, November 20th from 9AM to 5PM ET. Hundreds of leading biomedical scientists and physicians around the world will come together for this prestigious hybrid, in-person and virtual, one-day event. Each presentation highlights remarkable scientific advances in basic biology and engineering while also providing cutting edge research for a better understanding of liver diseases and the best treatment options available today.

Bridging Basic Science & Liver Disease brings together leading biomedical scientists and physicians from across globe

This informative symposium features 10 unique plenary talks from renowned researchers such as Presidential Medal of Freedom recipient and physician-geneticist Francis S. Collins, MD, PhD, who led the Human Genome Project and discovered the genes causing several genetic diseases. He also served under three Presidents as the Director of the U.S. National Institutes of Health (NIH), the largest supporter of biomedical research in the world. He is currently leading a bold effort to eradicate Hepatitis C throughout the United States. Anne Carpenter, PhD, is the Senior Director of the Imaging Platform and an Institute Scientist at the Broad Institute of MIT and Harvard. She was included on the Top 100 list of AI leaders for her team’s open-source CellProfiler software that is used by thousands of biologists worldwide and their Cell Painting assay that has been adopted throughout the pharma industry to accelerate drug discoveries. There will also be a collection of three-minute ‘MicroTalks’ delivered by trainee scientists.

“This unique one-day annual symposium is a must-attend event for scientists interested in exploring innovative, groundbreaking research conducted in labs and the therapeutic treatments eventually delivered in clinics across the country,” said Lorraine Stiehl, CEO, American Liver Foundation. “Over the past 33 years, research presented at this event has led to many advances in the diagnosis and treatment of virtually all liver diseases in children and adults. Dr. Irwin M. Arias, recognized throughout the world, has devoted his life’s work to advancing liver disease research, treatments and cures and we’re so grateful for his expertise. Liver patients everywhere have benefited from his preeminent work.”

Symposium co-chairs include Sangeeta Bhatia, MD, PhD, John J. and Dorothy Wilson Professor, Electrical Engineering and Computer Science and Institute of Medical Engineering and Science Department at MIT, and Wolfram Goessling, MD, PhD, Chief of Gastroenterology at Massachusetts General Hospital, Director of the Harvard-MIT Health Sciences & Technology at Harvard Medical School and a Professor of Medicine at Harvard Medical School. The overall programming has been designed to honor Dr. Arias’ founding commitment to ‘bridging’ the gap between the academic, industrial, and clinical research communities – even across disciplines.

“The burden of chronic liver diseases affects over 100 million people in the United States alone and is rapidly becoming a public health crisis,” said Dr. Goessling, Chief of Gastroenterology at Massachusetts General Hospital. “Unfortunately, we currently lack effective tools for prevention, diagnosis and treatment for many liver conditions, so it’s vitally important to connect basic science research with the ongoing needs prevalent in many clinics and the Arias Symposium provides this opportunity.”

“Significant gaps remain in the understanding of many liver diseases and the fundamental systems involved in normal and pathological liver function,” said Dr. Bhatia, John J. and Dorothy Wilson Professor at MIT’s Institute of Medical Engineering and Science Department. “This scientific conference bridges basic science and liver disease while also nurturing successful careers in basic and translational liver research. The Arias Symposium allows us all to come together to share our research, encourage new trainees to learn more about liver disease and offers everyone one-day to learn what’s new and engaging in the world of liver research and science.”

The symposium is open to researchers at every stage of their careers, and they are encouraged to share perspectives from their academic, industrial, and clinical research settings. In-person attendees will benefit from a poster session and networking opportunities with plenary speakers and other attendees. Breakfast, lunch, and a networking reception will also be provided to in-person attendees. Registration is free for all trainees (postdocs, fellows, grads, students, undergrads, etc.). Registration is $50 for in-person attendees other than trainees. Virtual attendance is free but does require registration. Register here for this informative event.

This one-day virtual program will include topics such as:  

It’s Time to Eliminate Hepatitis C in the U.S. Francis Collins, MD, PhD – National Institutes of Health (VIRTUAL)Post-Transplant Alloimmune Hepatitis – What do we know and What’s New Udeme Ekong, MD, MPH, FAASLD – Georgetown University Detecting Liver Phenotypes and Toxicity Using Cell Image Data Anne Carpenter, PhD – Broad Institute of MIT and HarvardSpatial Clonal Tracing in Solid Tissues Fernando Camargo, PhD – Massachusetts Institute of TechnologyHolistic Multi-Scale Molecular Imaging of Human Organs Kwanghun Chung, PhD – Boston Children’s HospitalCell Identity Conversion – Liver Regeneration and Cell Therapy Lijian Hui, PhD – Shanghai Institutes for Biological SciencesDeveloping Cirrhosis Therapies: The Three Grand Challenges Quin Wills, MD, PhD – Ochre BioPediatric Liver Tumors: Clinical Context and Opportunities for Collaboration Allison O’Neill, MD – Dana-Farber Cancer InstituteUnderstanding How the Organism Monitors Liver Sufficiency to Properly Time RegenerationKristin Knouse, MD, PhD – Massachusetts Institute of TechnologyCellular and Molecular Drivers of Liver Cancer Response to ImmunotherapyMiriam Merad, MD, PhD – Mount Sinai School of Medicine

For the full agenda, list of speakers, and registration, please visit alfevents.org/ariassymposium.  

In addition to the Arias Symposium, American Liver Foundation offers a research awards program in three categories, Liver Scholar Award, Postdoctoral Research Fellowship Award, and Pilot Research Awards that recently funded eight highly innovative projects into these rare diseases – PSC, AIH and BA. Since 1979, ALF’s research awards program has provided more than $28 million in research funding. Over 850 qualified scientists and physicians have pursued research careers in liver biology, disease and treatment because they received these grants early in their careers. Learn more at liverfoundation.org/research.

About the American Liver Foundation
American Liver Foundation (ALF) is a national community of patients, caregivers and medical professionals dedicated to helping people improve their liver health. Providing guidance and life-saving resources, we are a beacon for the 100 million Americans affected by liver disease. We advocate for patients and families, fund medical research and educate the public about liver wellness and disease prevention. We bring people together through our educational programs and events and create a network of support that lasts a lifetime. ALF is the largest organization focused on all liver diseases and the trusted voice for patients and families living with liver disease. For more information visit www.liverfoundation.org or call: 1 800 GO LIVER (800-465-4837).

Media Contacts:                   
Julie Kimbrough
JKimbrough@liverfoundation.org              
Direct dial: 646-737-9409   
Karla Thomas     
Direct dial: 773.575.9477        

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SOURCE American Liver Foundation

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Avantor® Opens New Bridgewater Innovation Center Focused on Solving Life Science’s Biggest Challenges

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RADNOR, Pa., Nov. 14, 2024 /PRNewswire/ — Avantor, Inc. (NYSE: AVTR), a leading global provider of mission-critical products and services to customers in the life sciences and advanced technology industries, today announced the opening of its new flagship Bridgewater Innovation Center. The state-of-the-art research and development facility, located in Bridgewater, NJ, is part of Avantor’s network of 13 research and innovation centers across the globe.

Avantor’s new Bridgewater Innovation Center spans 60,000 square feet, doubling its previous laboratory and pilot plant capacity. Purpose-designed for collaborative work, the center houses spaces for upstream and downstream process development, dedicated analytical testing labs, and a viral vector laboratory. An expanded pilot plant supports scale-up simulations, enabling rapid customization across the entire bioprocessing workflow.

“Our new Bridgewater Innovation Center is twice the size of our previous facility and adds capacity, talent and capabilities to support the growing demands for monoclonal antibodies, cell and gene therapy and mRNA workflows,” said Michael Stubblefield, President and CEO of Avantor. “Working side-by-side with customers in our network of innovation centers across the globe enables us to power science at every step to deliver life-changing therapies faster, and more cost effectively.”

The Bridgewater Innovation Center allows Avantor to optimize and accelerate biomanufacturing processes at scale; resulting in faster problem solving, streamlined knowledge exchange, and strategic co-innovation. Staffed with Ph.D. scientists, bioengineers, biologists, and process engineers, this center enhances both capacity and expertise to support customers’ needs. The facility also supports Avantor’s sustainability goals, reinforcing the Company’s commitment to environmental responsibility.

For more information about the Bridgewater Innovation Center, visit: https://www.avantorsciences.com/us/en/about/innovation-in-biopharma/avantor-bridgewater-innovation-center

About Avantor
Avantor® is a leading life science tools company and global provider of mission-critical products and services to the life sciences and advanced technology industries. We work side-by-side with customers at every step of the scientific journey to enable breakthroughs in medicine, healthcare, and technology. Our portfolio is used in virtually every stage of the most important research, development and production activities at more than 300,000 customer locations in 180 countries. For more information, visit avantorsciences.com and find us on LinkedInX (Twitter) and Facebook.

Global Media Contact
Eric Van Zanten
Head of External Communications
Avantor
610-529-6219
Eric.VanZanten@avantorsciences.com

Investor Relations Contact
Christina Jones
Vice President, Investor Relations
Avantor
805-617-5297
Christina.Jones@avantorsciences.com

 

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