NEW YORK, Nov. 27, 2024 /PRNewswire/ — Report with the AI impact on market trends – The global data monetization market size is estimated to grow by USD 8.03 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 27.17% during the forecast period. High adoption of data monetization by various end-users is driving market growth, with a trend towards digital transformation of business. However, data privacy and regulatory compliance poses a challenge. Key market players include Accenture Plc, Adastra Group, Alphabet Inc., Ciena Corp., Cisco Systems Inc., CoreSite Realty Corp., Dawex Systems., Emu Analytics Ltd., Enea AB, Equinix Inc., Extreme Networks Inc., Infosys Ltd., International Business Machines Corp., Juniper Networks Inc., Microsoft Corp., Ness Technologies Inc., NetScout Systems Inc., Nippon Telegraph And Telephone Corp., Nokia Corp., Oracle Corp., SAP SE, Thales Group, and Viavi Solutions Inc..

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Key Market Trends Fueling Growth

The Data Monetization Market is booming as businesses seek new ways to leverage their data for profit. This trend is driven by advances in technology like AI, IoT, machine learning, and deep learning, which enable better Business Intelligence (BI) and Big Data analytics. Enterprises are using data monetization tools to transform customer experience, improve sales and marketing, and enhance finance operations. IT professionals focus on data structures and quality to ensure market ecosystem success. The Tools segment includes direct and indirect monetization processes, with large enterprises and SMEs in various industries like telecommunication, healthcare, MSMEs, digitization, IT and telecom, energy and utilities, e-commerce, and cloud computing, benefiting from data monetization solutions. Market competition is high, with enterprise rivalry driving innovation in data type segmentation, customer data, organization size, and industry verticals. Data monetization processes include internal and external methods, with Big Data playing a crucial role in customer service, sales, and finance. Cloud and on-premise solutions offer flexibility for businesses. 

The digital revolution in sectors such as BFSI and automotive is generating massive data through digital technologies, IoT devices, social media, and other digital channels. This data abundance presents businesses with opportunities to monetize their assets by analyzing and offering data-driven products or services. Cloud computing’s adoption allows organizations to store and process large volumes of data affordably, enabling them to explore monetization opportunities. 

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Market Challenges

The Data Monetization Market presents significant opportunities for enterprises to generate revenue from their data. However, implementing data monetization processes comes with challenges. Businesses must invest in data monetization tools that can handle various data structures and ensure data quality. Customer experience is crucial, and AI, IoT, machine learning, and deep learning technologies can help. However, the market ecosystem is complex, with tools segmented by data type, customer data segment, organization size, and industry vertical. Large enterprises and SMEs in telecommunication, healthcare, MSMEs, IT and telecom, energy and utilities, e-commerce, and finance sectors can benefit. Digitization and competition drive enterprise rivalry, making data monetization solutions essential for customer service, sales and marketing, finance, and other departments. Data monetization processes involve internal and external methods, including Big Data, cloud, on-premise, direct, and indirect monetization.Monetizing data involves organizations sharing or selling their data assets to generate revenue. However, this practice comes with risks, particularly regarding data privacy. Strict regulations such as the GDPR and CCPA require organizations to collect, store, process, and share personal data in specific ways. Complying with these regulations while monetizing data can be complex and challenging. Proper consent mechanisms, anonymization techniques, and data governance practices are essential to protect customer privacy and comply with regulatory requirements. Failure to do so may result in data breaches and unauthorized access, potentially hampering the growth of the data monetization market during the forecast period.

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Segment Overview 

This data monetization market report extensively covers market segmentation by

Type 1.1 Solution1.2 ServicePlatform 2.1 BFSI2.2 E-commerce and retail2.3 Media and entertainment2.4 Manufacturing2.5 OthersGeography 3.1 North America3.2 APAC3.3 Europe3.4 South America3.5 Middle East and Africa

1.1 Solution- Businesses today have an abundance of data from various sources, including customer interactions, IoT devices, and social media. This data presents an opportunity for organizations to extract valuable insights and monetize them effectively. Data monetization solutions enable businesses to transform their data into actionable products and services, such as personalized marketing campaigns, targeted recommendations, optimized pricing strategies, and improved inventory management. Rapid advancements in technologies like big data analytics, artificial intelligence, machine learning, and cloud computing make data monetization more accessible and effective. Retail giants like Walmart and Amazon are already utilizing customer data to enhance the shopping experience and drive sales. The high adoption of data monetization solutions across industries will positively impact the growth of the global market in the forecast period.

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Research Analysis

The Data Monetization Market refers to the business of extracting value from data through various monetization strategies. Enterprises are increasingly recognizing the value of their data and are seeking tools and processes to monetize it effectively. Business processes for data monetization include direct and indirect monetization, such as selling data to third parties or using it to enhance internal operations. Data monetization tools include AI, IoT, machine learning, and deep learning technologies, which enable the analysis and processing of large volumes of data. Business Intelligence (BI) and big data analytics are essential components of data monetization, providing insights to improve customer experience, sales and marketing, finance, and other areas. IT professionals play a crucial role in implementing data monetization strategies, ensuring data quality and structures are optimized for monetization. The market ecosystem includes various industries such as IT and telecom, energy and utilities, e-commerce, and finance. Data monetization can be implemented in the cloud or on-premise, offering flexibility to businesses. Direct data monetization involves selling data to third parties, while indirect monetization includes using data to enhance internal operations and customer service. Data monetization is transforming industries, from improving customer experience in e-commerce to optimizing operations in energy and utilities. The future of data monetization lies in the integration of advanced technologies and a customer-centric approach.

Market Research Overview

The Data Monetization Market refers to the business of extracting value from data through various processes and tools. Enterprises are leveraging data monetization to optimize business processes, enhance customer experience, and generate new revenue streams. Data monetization tools include AI, IoT, machine learning, and deep learning, among others, enabling Big Data analytics and Business Intelligence (BI). IT professionals focus on data structures and quality to ensure market ecosystem effectiveness. The Tools segment includes direct and indirect monetization processes, such as selling data to third parties or using it for internal purposes. Data types range from customer data to organizational data, with large enterprises and SMEs in various industry verticals, including telecommunication, healthcare, MSMEs, and e-commerce, adopting data monetization solutions. Digitization and enterprise rivalry drive the market, with cloud and on-premise solutions catering to diverse needs. Data monetization processes include internal and external monetization, impacting customer service, sales and marketing, finance, and more. Industries like IT and telecom, energy and utilities, and finance are significant contributors to the market’s growth.

Table of Contents:

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

TypeSolutionServicePlatformBFSIE-commerce And RetailMedia And EntertainmentManufacturingOthersGeographyNorth 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

49% Year-to-Date Revenue Growth and 71% Adjusted Gross Margin Drive OAM’s Path to Profitability

TORONTO, Nov. 27, 2024 /CNW/ – OverActive Media Corp. (“OverActive” or the “Company”) (TSXV: OAM) (OTC: OAMCF), a global esports, and entertainment company for today’s generation of fans, released its third-quarter results for the three and nine-month periods ended September 30, 2024.

Note to reader: A significant portion of the Company’s revenue is derived from “League Revenues,” which have historically varied in the quarter they were received, making period-over-period comparisons less meaningful. To address this, the Company has adopted a straight-line revenue recognition model, distributing revenue evenly over 12 months. This approach ensures more consistent quarter-to-quarter comparisons. The normalized financials in this press release reflect this change, providing clearer insights into the Company’s performance. All amounts are presented in Canadian dollars ($).

Below is a summary of the financial results for the three and nine months ended September 30, 2024, compared to the three and nine months ended September 30, 2023:

“Our third-quarter results demonstrate OverActive Media’s disciplined execution and growth. With year-to-date revenue up 49% to $17.1 million and positive net income of $239,000, we are making significant progress,” said Adam Adamou, CEO of OverActive Media. “This growth is driven by strategic changes, including renegotiated league agreements, increased digital revenue, and contributions from our KOI and Riders acquisitions, as well as our entry into the VALORANT EMEA ecosystem. We delivered positive Adjusted EBITDA this quarter and significantly reduced year-to-date Adjusted EBITDA losses by 45%, illustrating our strong path forward.”

Mr. Adamou continued, “Restructuring agreements with Activision earlier this year eliminated over $35 million in liabilities, strengthening our net working capital to $9.4 million. Additionally, post-quarter, we finalized a new Riot Games agreement that eliminated the remaining $2 million franchise fee for our LEC team, securing full ownership of our franchises without future obligations. These restructured agreements have enabled us to generate high-margin revenue streams, especially in digital merchandise and microtransactions.

Mr. Adamou concluded, “Today, we are operating from a position of financial strength — debt-free, globally diversified, and supported by partnerships with iconic brands like Pepsi, AMD, Telefónica, and Bell. With a clear strategy, strong margins, and transformative agreements in place, we are focused on expanding our opportunities and driving sustainable, profitable growth in the near future.”

Q3 2024 Financial Highlights

Revenue for the three months ended September 30, 2024 totaled $6.8 million, reflecting a 14% increase compared to $6.0 million in the same period of 2023. On a normalized basis—accounting for changes in revenue recognition—revenue increased by $2.8 million, or 72%. This growth was driven by several strategic initiatives, including the acquisition of Riders and KOI assets in the first quarter and our entry into the VALORANT EMEA ecosystem in February. Additionally, stronger performance across both our Team Operations and Business Operations segments, particularly from digital merchandise (MTX) sales, contributed significantly to this revenue expansion.Operating Costs for the three months ended September 30, 2024 totaled $7.6 million, compared to $5.4 million for the same period in 2023, reflecting a 42% increase. This rise in costs is primarily attributed to higher payroll expenses across both corporate and team operations, driven by the integration of the recently acquired Riders and the KOI assets. Additionally, one-time restructuring costs incurred as part of our strategic efforts to streamline operations and improve efficiency have also contributed to this increase.Adjusted Gross Profiti for the quarter (defined as revenue less direct costs) remained strong at $5.1 million, resulting in an Adjusted Gross Margini of 74%, compared to $4.8 million and 80% for the same period in 2023. On a normalized basis, Adjusted Gross Profit improved from $2.8 million to $5.1 million for the quarter and Adjusted Gross Margin improved from 71% to 74%. The stability in Adjusted Gross Profit, despite the increase in operating costs, highlights the effectiveness of our revenue growth initiatives, particularly from digital merchandise sales and contributions from our expanded portfolio. These results underscore the scalability of our business model as we continue to execute on strategic opportunities to drive long-term profitability. Adjusted EBITDAi for the three months ended September 30, 2024 was essentially break-even, compared to an Adjusted EBITDA gain of $777,000 in the same period in 2023. This year-over-year decline is primarily due to changes in the timing of revenue recognition for certain league earnings and in-game microtransactions (MTX). On a normalized basis, Adjusted EBITDA showed a significant improvement, moving from a loss of $1.2 million in Q3 2023 to a gain of $4,000 in Q3 2024. This improvement was driven by increased revenues from strategic acquisitions, and successful team performances in key tournaments.Net Loss for the three months ended September 30, 2024 was $1.8 million, representing a 10% improvement compared to a Net Loss of $2.0 million in the same period in 2023. This improvement was driven by strong revenue growth and disciplined cost management, even as the Company absorbed additional expenses related to acquisitions and integration.Net Working Capital (current assets less current liabilities) as of September 30, 2024 improved dramatically to $9.4 million, compared to negative working capital of $4.3 million in the same period in 2023 — a positive shift of $13.7 million. This significant change is primarily the result of the acquired businesses and the restructuring of our league partnerships, which resulted in the elimination of substantial league payables.Cash and Cash Equivalents as of September 30, 2024 totaled $8.9 million, compared to $9.7 million at the same time in 2023. This modest decrease reflects careful asset management, with planned investments directed toward operating activities and acquisition integration costs. The Company’s approach underscores a commitment to balancing strategic growth with operational efficiency while maintaining a strong liquidity position.

Nine Months 2024 Financial Highlights

For the nine months ended September 30, 2024 Revenue totaled $17.2 million, a 49% increase compared to $11.5 million during the same period in 2023. After normalizing for changes in revenue recognition, Revenue grew by $6.3 million or 59%. This growth was driven by strategic acquisitions of Riders and KOI, stronger performance across Team Operations and Business Operations segments, and contributions from our marketing and influencer activities.Operating Costs for the nine months ended September 30, 2024 were $22.4 million, a 30% increase compared to $17.3 million in the same period in 2023. This increase reflects higher payroll expenses, costs associated with integrating acquired businesses, and one-time restructuring expenses. These costs align with the Company’s strategic focus on streamlining operations and positioning for sustainable growth.Adjusted Gross Profit for the period stood at $12.2 million, with an Adjusted Gross Margin of 71%, compared to $7.7 million and 67% for the same period in 2023. On a normalized basis, year-to-date Adjusted Gross Profit significantly improved from $7.0 million to $12.2 million and Adjusted Gross Margin improved from 65% to 71%. The growth in Adjusted Gross Profit underscores the scalability of our revenue model, particularly from digital merchandise and expanded team contributions.Adjusted EBITDA loss for the nine months ended September 30, 2024 was $3.0 million, a 45% improvement from the $5.5 million loss reported for the same period in 2023. This improvement reflects robust revenue growth from acquisitions and changes in revenue recognition, offset by integration and restructuring costs.Net Income for the nine months ended September 30, 2024 was a gain of $239,000, compared to a Net Loss of $11.2 million in the same period in 2023. The shift to profitability was driven by strong revenue performance, disciplined cost management, and a gain from the termination of the Call of Duty League franchise obligation.

Selected Q3 2024 Achievements

OverActive Media’s teams, competing as Toronto Ultra at the 2024 Esports World Cup (EWC) in Saudi Arabia, delivered a strong international performance, earning valuable Club Championship Points in Overwatch 2, Teamfight Tactics, and Call of Duty to secure an 11th place global finish. This achievement underscores OverActive Media’s growing influence in the global esports ecosystem and highlights its role as an Official Esports World Cup Partner.OverActive Media secured new high-profile partnerships with global brands, including Pepsi, and renewed previous announced partnerships with AMD, SCUF and Bell. These partnerships continue to enhance the Company’s market presence and brand portfolio, particularly in the esports and gaming sectors.Toronto Ultra finished in third place at the CDL World Championships in Texas, capping off a successful year that included winning Major 1 in the first quarter and leading all CDL teams in team branded digital merchandise sales globally.

Significant Announcements Subsequent to Quarter End

OverActive Media’s esports team, Movistar KOI, partnered with Ecoembes, a leader in circular economy and packaging recycling, to drive sustainability within the esports community. This strategic sponsorship positions Movistar KOI as an advocate for environmental responsibility in European esports, focusing on recycling awareness, packaging recovery, and carbon neutrality. The partnership also includes Movistar KOI’s commitment to the United Nations Sports for Climate Action Framework, reinforcing OverActive Media’s dedication to sustainable growth.OverActive Media’s League of Legends team MAD Lions KOI qualified for the World Championship tournament for the sixth consecutive time, drawing peak viewership of almost 2.5M concurrent viewers.OverActive Media has secured a new long-term partnership with Riot Games for the League of Legends EMEA Championship (LEC), reinforcing its presence in one of the world’s premier esports leagues. The agreement eliminates all future franchise obligations from OAM’s balance sheet, significantly improving future cash flows and ensuring full ownership of its franchises with no remaining liabilities. This milestone positions the company for enhanced revenue opportunities and long-term growth in the global esports ecosystem.

The Company’s consolidated unaudited financial statements, notes to financial statements, and Management’s Discussion and Analysis for the three and nine-month periods ended September 31, 2024, are available on the Company’s website at www.overactivemedia.com and under the Company’s profile on SEDAR at www.sedarplus.ca.

Conference Call

The Company will conduct a conference call on Thursday, November 28, 2024, at 9:00 a.m. (Eastern Time) to review the third-quarter results, as well as provide an overview of the Company’s recent milestones and growth strategy.

To access the conference call without operator assistance, please register and enter your phone number at https://emportal.ink/3O6qT40 to receive an instant automated callback. To dial directly to be entered into the call by an operator, please dial 1-888-699-1199 or, for international callers, 416-945-7677.

A replay will be available shortly after the call and can be accessed by dialing 1-888-660-6345 or, for international callers, 289-819-1450. The entry code for the replay is 27822#. The replay will expire on Thursday, December 5, 2024.

A live conference call webcast can be accessed on OverActive’s website at https://app.webinar.net/ZXxR8X7pPLM. An online webcast archive will be available via the same link for three months following the call.

ABOUT OVERACTIVE MEDIA 

OverActive Media Corp. (TSXV: OAM) (OTC:OAMCF) is headquartered in Toronto, Ontario, with operations in Madrid, Spain and Berlin, Germany, is a premier global esports and entertainment company for today’s generation of fan. OverActive owns team franchises in professional esports leagues, including the Call of Duty League, operating as the Toronto Ultra, the League of Legends EMEA Championship (LEC), operating as MAD Lions KOI, the VALORANT Champions League (VCT) EMEA, operating as Movistar KOI and other professional esports leagues and competitions.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION

This press release contains statements which constitute “forward-looking statements” and “forward-looking information” within the meaning of applicable securities laws (collectively, “forward-looking statements”), including statements regarding the plans, intentions, beliefs and current expectations of OverActive with respect to future business activities and operating performance. Forward-looking statements are often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions and includes information regarding the anticipated financial and operating results of OverActive in the future.

Investors are cautioned that forward-looking statements are not based on historical facts but instead OverActive management’s expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although OverActive believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed thereon, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the OverActive. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking statements include the following: the potential impact of OverActive’s qualifying transaction on relationships, including with regulatory bodies, employees, suppliers, customers and competitors; changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws and regulations both locally and in foreign jurisdictions; compliance with extensive government regulation; the risks and uncertainties associated with foreign markets; the ability of the Company to continue to execute on its existing partnerships and business strategy; the ability of the MAD Lions and Call of Duty Leagues to maintain viewership; the successful completion of the Company’s new venue; and other risk factors set out in OverActive’s most recent annual information form and its other filings with Canadian securities regulators, copies of which may be found under OverActive’s profile at www.sedarplus.ca. These forward-looking statements may be affected by risks and uncertainties in the business of OverActive and general market conditions, 9.

Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although OverActive has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended and such changes could be material. OverActive does not intend and do not assume any obligation, to update the forward-looking statements except as otherwise required by applicable law.

NON-IFRS MEASURES

This press release includes references to Adjusted EBITDA, Adjusted Gross Profit and Adjusted Gross Margin. These non-IFRS financial measures are not earnings or cash flow measures recognized by IFRS and do not have standardized meanings prescribed by IFRS. Our method of calculating these financial measures may differ from the methods used by other issuers and, accordingly, our definition of these non-IFRS financial measures may not be comparable to similar measures presented by other issuers.  Investors are cautioned that non-IFRS financial measures should not be construed as an alternative to net income determined in accordance with IFRS as indicators of our performance or to cash flows from operating activities as measures of liquidity and cash flows.

Adjusted EBITDA is defined by the Company net income or loss before income taxes, finance costs, finance income, depreciation and amortization, decrease in net present value of franchise obligations, foreign exchange gains / loss, assistance payments from Franchise League and government assistance, restructuring and business development costs, impairment charges, and share-based compensation. We believe that Adjusted EBITDA is a useful measure of financial performance because it provides an indication of the Company’s ability to capitalize on growth opportunities in a cost-effective manner, finance its ongoing operations and service its financial obligations. A reconciliation of Adjusted EBITDA to net income/loss may be found in the Company’s Management’s Discussion and Analysis for the three and nine-month periods ended September 30, 2024.

Adjusted Gross Profit is defined by the Company as revenue less the direct operating costs incurred by the Company in generating revenue. Direct operating costs include merchandise, sponsorship and agency expenses, live event expenses and the portion of team prize money revenue paid to team members but do not include other team operation expenses or other indirect operating costs. Adjusted Gross Profit Margin is the percentage that Adjusted Gross Profit represents of total revenue. We believe that Adjusted Gross Profit and Adjusted Gross Profit Margin are important measures of financial performance because they focus on the profitability of our core revenue-generating activities by excluding indirect operating costs. These metrics provide investors with a clearer view of the Company’s ability to deliver value to fans, sponsors, advertisers, and league partners, while maintaining sustainable margins in our primary operations. This distinction helps investors evaluate the underlying performance and efficiency of our revenue streams before considering broader expenses.

A reconciliation of revenue to Adjusted Gross Profit and Adjusted Gross Profit Margin for the periods indicated is as follows:

The following tables presents a reconciliation of net loss to adjusted EBITDA for the three and nine months ended September 30, 2024 and 2023:

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Overactive Media Corp.

NEW YORK, Nov. 27, 2024 /PRNewswire/ — Report on how AI is redefining market landscape – The global patient engagement technology market size is estimated to grow by USD 37.41 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 20.56%  during the forecast period. Increasing cases of chronic diseases is driving market growth, with a trend towards digitization of healthcare. However, stringent regulations on patient engagement solutions  poses a challenge. Key market players include agilon health Inc., ALLSCRIPTS HEALTHCARE SOLUTIONS INC., athenahealth Inc., CipherHealth, Computer Programs and Systems Inc., DrChrono Inc., eClinicalWorks LLC, Epic Systems Corp., GetWellNetwork Inc., International Business Machines Corp., Lincor Inc., Luma Health Inc., McKesson Corp., Medical Information Technology Inc., Medtronic Plc, Oneview Healthcare Plc, Oracle Corp., Solutionreach Inc., Sonifi Solutions Inc., and Tebra Technologies Inc..

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Key Market Trends Fueling Growth

The Patient Engagement Technology market is experiencing significant growth as payers, providers, and individual users seek to improve healthcare consumerism. Chronic diseases like diabetes and infectious diseases require ongoing management, making telehealth, wearable devices, and healthcare apps essential tools. Women’s health and mental health are also priority areas, with next-gen healthcare focusing on patient engagement, health literacy, and care teams. Technologists and healthcare professionals are developing software and hardware solutions, including patient portals, mobile applications, and web-based, cloud-based, and on-premise systems. Payers and providers are investing in AI technologies for preventive care, arthritis management, and clinical trials. The market caters to various populations, including diabetic patients, geriatric population, and smartphone users. Healthcare benefits are maximized through consulting, support and maintenance, billing and payments, patient education, and health and wellness initiatives. Strict regulations ensure secure patient information management, while virtual consultations and social management tools enhance patient engagement. 

The healthcare industry has been significantly transformed by digitization, with technologies like AI and cloud computing playing a pivotal role. This digital revolution brings numerous advantages, such as improved doctor-patient coordination, communication among multiple physicians, real-time health information access, and enhanced data security. The benefits extend to various sectors, including genomic research, big data analysis, organ-on-chips, genetic engineering, telemedicine, and 3D bioprinting. Healthcare systems must prioritize data-driven and digital strategies to increase patient awareness and education. An informed and engaged patient base is essential for better health outcomes. 

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Market Challenges

The Patient Engagement Technology market is growing rapidly as payers, providers, and individual users seek to improve healthcare experiences and outcomes. Challenges include engaging chronic disease patients, such as diabetics and geriatric population, through fitness apps, women’s health, mental health, and telehealth solutions. NextGen healthcare providers use software and hardware, including patient portals, mobile applications, and wearables, for preventive care and population health management. Healthcare consumerism demands patient education, care teams, and virtual consultations. Strict regulations ensure secure handling of patient information. Technologists develop AI technologies for preventive care, arthritis management, and clinical trials. Billing and payments, consulting, support and maintenance, and healthcare benefits are essential services. Patient engagement is key to managing deadly and infectious diseases, improving healthcare literacy, and enhancing the role of healthcare professionals, including physicians.The Health Insurance Portability and Accountability Act (HIPAA) of 1996 sets strict regulations for safeguarding patient data, known as Protected Health Information (PHI). Healthcare providers must sign a contract with patient engagement software vendors, committing to HIPAA compliance and PHI protection. HIPAA’s stringent rules limit advanced patient portal capabilities, falling short of efficient patient engagement solutions. These solutions should provide quick access to patient data, instant information transfer, and personalized communication. Despite HIPAA-supported patient portals, there is a need for more effective patient engagement technologies that meet these criteria.

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Segment Overview 

This patient engagement technology market report extensively covers market segmentation by

Delivery Mode1.1 On-premise solution1.2 Web and cloud-based solutionEnd-user 2.1 Providers2.2 Payers2.3 Individual usersGeography 3.1 North America3.2 Europe3.3 Asia3.4 Rest of World (ROW)

1.1 On-premise solution-  On-premises patient engagement solutions involve purchasing licenses or software copies for use on a company’s own servers and IT infrastructure. This setup offers enhanced security as healthcare data remains onsite. However, managing and maintaining on-premises infrastructure comes with significant costs, including hardware, software licenses, and IT personnel. The high expenses associated with on-premises solutions may hinder their adoption in the global patient engagement technology market during the forecast period. Additionally, any system malfunctions or downtime can result in substantial repair costs. Despite these challenges, the on-premises segment is predicted to grow moderately due to its ability to integrate with on-premises Electronic Health Records (EHR) systems.

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Research Analysis

The Patient Engagement Technology market is a dynamic and growing sector in the healthcare industry, focusing on enhancing communication and collaboration between Payers, Providers, and Individual Users. This market caters to various health needs, including Chronic Diseases, Fitness, Women’s Health, and Mental Health. It encompasses solutions for Healthcare Consumerism, Virtual Consultations, Clinical Trials, and Preventive Care. Technologies like AI, Cloud-Based, and On-Premise Software, Hardware (including mobile devices and wearables), and Patient Portals are integral to this market. Wearable devices and Healthcare apps enable users to monitor their health in real-time, while mobile applications facilitate virtual consultations and assessment timelines. Moreover, the market caters to specific health concerns, such as Chronic Diseases, Fitness, Women’s Health, and Mental Health, with tailored solutions. AI technologies play a crucial role in analyzing patient data and providing personalized care plans. The market’s growth is driven by the increasing demand for convenient, accessible, and cost-effective healthcare solutions.

Market Research Overview

The Patient Engagement Technology market is a rapidly growing sector in healthcare, focusing on enhancing communication and collaboration between Payers, Providers, and Individual Users. This market caters to various health conditions, including Chronic Diseases such as diabetes and Arthritis, Women’s Health, Mental Health, and Geriatric population. Fitness and Healthcare consumerism are significant drivers, with NextGen Healthcare and other technologists developing innovative solutions like telehealth, wearable devices, patient portals, mobile applications, and healthcare apps. These technologies facilitate assessment timelines, preventive care, and virtual consultations for Deadly and Infectious Diseases. AI technologies and Clinical trials are transforming patient care, offering personalized healthcare benefits to Diabetic Patients and other healthcare consumers. Healthcare professionals, including physicians, utilize these tools for Patient Education, Health and Wellness, Population Health Management, and In-patient Health Management. Despite the numerous advantages, the market faces strict regulations and social management challenges. The market offers various deployment models, including Web-Based, Cloud-Based, On-Premise, Software, and Hardware solutions, catering to mobile devices, wearables, and patient information management. Billing and Payments, Support and Maintenance, and Consulting services are essential components of this dynamic and evolving market.

Table of Contents:

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

Delivery ModeOn-premise SolutionWeb And Cloud-based SolutionEnd-userProvidersPayersIndividual UsersGeographyNorth AmericaEuropeAsiaRest Of World (ROW)

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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