SAN FRANCISCO, Oct. 4, 2024 /PRNewswire/ — Verbal, a leading innovator in healthcare AI solutions, today announced its invitation to join the 2024 Healthworx Accelerator cohort. As part of this selective program, Verbal will receive the mentorship, resources, and industry connections needed to advance its mission of enhancing quality and productivity for payers and providers across the healthcare ecosystem .

Healthworx Accelerator: Driving Innovation in Healthcare

Healthworx, the innovation arm of CareFirst BlueCross BlueShield, launched its accelerator to support startups transforming healthcare. This year’s cohort features visionary companies tackling healthcare’s biggest challenges, from improving patient outcomes to reducing costs and increasing efficiency.

Healthworx 2024 Accelerator

“We are honored to join the Healthworx 2024 Accelerator,” said Waleed Mohsen, CEO of Verbal. “This opportunity will help us accelerate our mission of improving quality and productivity for payers and providers. We’re excited to collaborate with industry leaders and fellow innovators to make a positive impact.”

Verbal’s Growth through Strategic Partnerships and Expert Guidance

As part of the program, Verbal will gain strategic partnerships, tailored support, and guidance from healthcare leaders. Verbal will also work with Healthworx’s network of experts, investors, and veterans to refine its offerings and expand its reach.

 The 2024 Cohort in Health Technology and Digital Health

The 2024 cohort includes startups across health technology and digital health, all poised to disrupt traditional healthcare and bring innovative solutions to market. The program offers hands-on support, positioning startups for rapid growth and impact.

For more information about Verbal’s participation in the Healthworx 2024 Accelerator, please contact hello@tryverbal.com. 

About Verbal

Verbal is the first AI Copilot for Clinical Operations, designed to help healthcare organizations boost revenues and productivity by automating training, quality assurance (QA), and clinical documentation—all within one holistic platform. Verbal is currently supporting customers in mental health, chronic condition management, substance use disorder, maternal health, and many other areas. It has already helped organizations double adherence to best practices, reduce time spent on administrative tasks by 74%, and gain 100% visibility into patient interactions.

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SOURCE Verbal

GENT, Belgium and STANWOOD, Wash., Oct. 4, 2024 /PRNewswire/ — hsbcad and Moducore announced today a new strategic collaboration to accelerate innovation in the offsite manufacturing industry. hsbcad is the leading global software solution provider for offsite timber construction. Moducore, a part of the 4Ward Solutions Group of companies, is the premier provider of operating systems for the offsite manufacturing industry.

hsbcad’s extensive software platform supports companies by facilitating computer-aided design (CAD), offsite manufacturing, onsite assembly, and compliance with the construction industry’s rapidly emerging Building Information Modelling (BIM) standards. Michael Marzy, Business Development Manager at hsbcad said about this new collaboration “We are pleased to have the opportunity to cooperate with one of the market leaders in the field of ERP. This solution between hsbcad and Moducore allows users to transfer material data from their design directly into the ERP system, making the workflow even more direct and seamless. This brings the industry a great deal closer to the idea of true DfMA.”

Moducore CTO and Co-Founder, Jordie Puchinger, said “This partnership with hsbcad takes us one step closer to our mission of simplifying the offsite manufacturing industry by connecting people, processes and equipment. Our collaboration underscores our commitment to bridging the gap between design, the material supply-chain, and production. The hsbcad integration enables our customers to go from CAD to Purchase Order with the click of a button, unlocking tens of thousands of dollars in potential savings per project.”

About hsbcad
With 30+ years of industry experience, hsbcad is a global software solution provider for offsite timber construction companies with the purpose of reshaping today’s construction industry into a sustainable and innovative tomorrow. hsbcad has always looked to break the boundaries of current technology to deliver the most efficient, flexible, and user-friendly software solution as required in the offsite timber construction industry. hsbcad’s range of solutions for design, manufacturing and assembly ensure compliance with the construction industry’s rapidly emerging Building Information Modelling (BIM) standards. Headquartered in Ghent, Belgium, hsbcad’s global team comprises 70+ people, spread throughout their international subsidiaries in Germany, The Netherlands, The UK, The USA, Canada, Japan, Ecuador, and Australia.

For more information, visit hsbcad.com and follow us on LinkedIn, Facebook, Instagram, and YouTube.

About Moducore, LLC
Moducore, LLC is the premier end-to-end cloud-based solution for the offsite manufacturing industry. With our purpose-built platform, Moducore singlehandedly helps offsite companies consolidate their activities at the backend and frontend of their projects. Moducore’s robust data sets, real-time information and in-depth functionality unlock the offsite manufacturing industry’s ability to accelerate growth and recognize efficiencies not previously measured.

For more information on Moducore, visit their website at https://moducore.com.

Visit us at the BCMC show in Milwaukee, WI October 7-11. hsbcad will be in booth #905 and Moducore in booth #309.

Media Contact
Jordie Puchinger 
pr@moducore.com 

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SOURCE Moducore, LLC

NEW YORK, Oct. 4, 2024 /PRNewswire/ — Report on how AI is driving market transformation – The IT Market in Saudi Arabia  size is estimated to grow by USD 5.15 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  6.78%  during the forecast period. Launch of national transformation program is driving market growth, with a trend towards increasing adoption of e-governance. However, increasing threat of cyber crimes  poses a challenge – Key market players include Accenture Plc, Al Moammar Information Systems Co., Alphabet Inc., Amazon.com Inc., AT and T Inc., Cisco Systems Inc., Cognizant Technology Solutions Corp., Comprehensive Technology Co., DataFlow Group, Easy World Automation LLC, Ejada Systems Ltd., Hewlett Packard Enterprise Co., Huawei Technologies Co. Ltd., International Business Machines Corp., IQVIA Holdings Inc., Microsoft Corp., NEC Corp., Oracle Corp., SAP SE, and SAS Institute Inc..

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Key Market Trends Fueling Growth

The Saudi Arabian IT market is experiencing significant growth due to the government’s focus on digital transformation through the Vision 2030 program. In the 2020 UN E-Government Development Index, Saudi Arabia ranked 9th, reflecting progress in online services. The government offers various e-services, including employment programs, e-learning, online job searches, passports and civic affairs, traffic updates, commercial register issuance, and payment services. The Vision 2030 program aims to expand online services, introducing geographic information systems (GIS), healthcare, and education. The Saudi Arabian government is strengthening online services within the public sector, promoting cloud applications, data-sharing platforms, and HR management systems. Additionally, the increased use of cloud computing in various sectors is anticipated to fuel market growth during the forecast period.

In Saudi Arabia’s IT market, high-speed internet and smartphone penetration are on the rise. With the rollout of 5G networks, wireless connections are becoming faster and more reliable. Digital innovation is transforming industries such as Pharmacy and Healthcare with IoT technology. Industry 4.0 is gaining traction in sectors like Construction and Consumer Goods. Businesses are embracing digital-savvy solutions like Client Computing, Consulting, Integration Services, Data and Analytics, Edge Computing, IT Management, Mobility, Networking, Security, Servers, Storage, Communication, and Telecommunication. Oil and gas companies are leveraging data processing for real-time communication and e-governance. Hardware and Software providers are meeting the demands of businesses and consumers. The IT sector is also focusing on cybersecurity to protect against data theft. Overall, the IT market in Saudi Arabia is thriving with trends like AI, 5G, and cloud computing shaping the future.

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Market Challenges

In Saudi Arabia, businesses are experiencing a significant rise in the implementation of advanced technologies due to globalization, privatization, and technological advancements. This digital transformation includes the adoption of cloud services and infrastructure, such as public clouds. However, this shift brings new risks, particularly cyberattacks. The COVID-19 pandemic has led to an increase in remote workforces and the use of mobile phones and IoT devices, making enterprises more vulnerable. First-time adopters of cloud services rely on providers’ security infrastructure, increasing their risk. Data breaches can negatively impact companies’ performance and result in financial losses for their customers. Cybercriminals can gain instant access to sensitive information, leading to potential financial damage. To mitigate these risks, companies and government entities must invest in security technologies. Additionally, predictive threat intelligence and analysis platforms can offer advance warnings of fraudulent activities or anomalous transactions, slowing down market growth during the forecast period.In Saudi Arabia’s IT market, businesses face several challenges in the digital age. High-speed internet is essential for fast data processing and real-time communication, but penetration remains low in some areas. The rise of smartphones and 5G networks necessitates wireless connections for industries like Pharmacy and Healthcare, as well as Construction and Consumer Goods. Digital innovation demands integration of IoT and Industry 4.0, but also brings risks such as data theft. Businesses need consulting, integration services, and IT management to navigate these changes. Data and analytics, edge computing, and cybersecurity are key areas of focus. Telecommunication companies are investing in 5G networks and AI for client computing and communication. Oil and gas, e-governance, and telecommunications sectors are adopting cloud computing and data centers for efficient data processing. Security remains a top priority for all businesses, especially in the era of cyber threats.

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Segment Overview 

This it market in Saudi Arabia report extensively covers market segmentation by

Component 1.1 Hardware1.2 Services1.3 SoftwareEnd-user 2.1 Government2.2 Telecommunication2.3 BFSI2.4 Oil and gas2.5 OthersGeography 3.1 Middle East and Africa

1.1 Hardware-  The IT market in Saudi Arabia is thriving, with numerous businesses adopting digital solutions to enhance their operations. The kingdom’s Vision 2030 initiative prioritizes digital transformation, creating ample opportunities for IT companies. The market size is expected to grow significantly due to increasing demand for cloud services, cybersecurity, and artificial intelligence. Saudi Arabian Monetary Authority’s (SAMA) Fintech Program further boosts the sector, attracting international players. Businesses and government entities invest in IT infrastructure upgrades, ensuring and expanding IT market.

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Research Analysis

The IT market in Saudi Arabia is thriving, driven by the growing demand for advanced technology solutions in various sectors. Hardware and computers are popular, with a focus on high-performance systems for businesses and fast, efficient devices for consumers. Software, including productivity suites and specialized applications, is in high demand, particularly in industries like healthcare and finance. The internet and mobile phones are essential for connectivity, with a push for fast internet and wireless connections. Telecommunications companies are expanding their networks, while data centers and cloud computing provide businesses with secure, reliable storage and processing solutions. Real-time communication and collaboration tools are crucial for remote work and virtual meetings. Cybersecurity is a major concern, with a growing focus on protecting sensitive data from theft. Industry 4.0 and the Internet of Things (IoT) are transforming industries, while 5G networks promise faster speeds and lower latency. Artificial Intelligence (AI) and edge computing are also gaining traction, offering new possibilities for data processing and analysis. Consulting and integration services help businesses navigate the complex IT landscape and make the most of these technologies. Data and analytics are essential for informed decision-making and improving operational efficiency. Servers and serversless computing provide the foundation for these solutions, ensuring seamless performance and scalability.

Market Research Overview

The IT market in Saudi Arabia is witnessing significant growth, driven by the demand for advanced technology solutions in various sectors. Hardware and software are key components of this market, with a focus on high-performance computers, mobile phones, and telecommunication infrastructure. The oil and gas industry is a major consumer of IT services, with a growing need for real-time communication, data processing, and cybersecurity. E-Governance is another significant area, with the Saudi Arabian government investing heavily in digital innovation to improve efficiency and citizen services. The healthcare and pharmacy sectors are also adopting digital technologies, including telemedicine, electronic health records, and IoT devices. The construction industry is embracing Industry 4.0 technologies, while consumer goods companies are leveraging mobility, data analytics, and edge computing for supply chain optimization. With the rollout of 5G networks, the market for high-speed internet, wireless connections, and cloud computing is expected to grow rapidly. Cybersecurity remains a top priority, as data theft and digital threats continue to pose challenges for businesses and individuals alike. AI and IT management services are also gaining popularity, as organizations seek to optimize their operations and enhance customer experiences.

Table of Contents:

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

ComponentHardwareServicesSoftwareEnd-userGovernmentTelecommunicationBFSIOil And GasOthersGeographyMiddle 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