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Artificial Intelligence Market to Grow by USD 237.4 Billion from 2024-2028, as AI-Driven Fraud Prevention and Malicious Attack Protection Boost Market – Technavio

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NEW YORK, Nov. 8, 2024 /PRNewswire/ — Report with market evolution powered by AI – The global artificial intelligence (AI) market size is estimated to grow by USD 237.4 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  30.07%  during the forecast period. Prevention of fraud and malicious attacks is driving market growth, with a trend towards increase in cloud-based AI services. However, shortage of ai experts  poses a challenge.Key market players include Advanced Micro Devices Inc., Alphabet Inc., Amazon.com Inc., Apple Inc., Argo AI LLC, Baidu Inc., China Cambrian Technology Co. Ltd., CognitiveScale, DataDirect Networks Inc., Graphcore Ltd., Huawei Technologies Co. Ltd., Intel Corp., International Business Machines Corp., Microsoft Corp., Nuance Communications Inc., NVIDIA Corp., Oracle Corp., Qualcomm Inc., Tesla Inc., and Wipro Ltd..

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View Free Sample PDF

Artificial Intelligence (Ai) Market Scope

Report Coverage

Details

Base year

2023

Historic period

2017 – 2021

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 30.07%

Market growth 2024-2028

USD 237.4 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

23.17

Regional analysis

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

Performing market contribution

North America at 56%

Key countries

US, China, Germany, UK, and France

Key companies profiled

Advanced Micro Devices Inc., Alphabet Inc., Amazon.com Inc., Apple Inc., Argo AI LLC, Baidu Inc., China Cambrian Technology Co. Ltd., CognitiveScale, DataDirect Networks Inc., Graphcore Ltd., Huawei Technologies Co. Ltd., Intel Corp., International Business Machines Corp., Microsoft Corp., Nuance Communications Inc., NVIDIA Corp., Oracle Corp., Qualcomm Inc., Tesla Inc., and Wipro Ltd.

Market Driver

Artificial Intelligence (AI) is revolutionizing technology, with businesses adopting it for various applications such as recommendation engines, pricing optimization, lead generation, chatbots, supply chain optimization, and more. In the realm of next-generation tech fields, AI is making strides in sectors like finance, healthcare, marketing, and advertising. Companies must invest in sufficient computer and data storage capabilities for on-premises data centers to process AI-driven data efficiently. Developing in-house AI products can be costly, leading many to consider open-source AI platforms, SaaS, and cloud computing solutions. Key technologies include parallel processing, data analytics, data science, cognitive solutions, computer vision, deep learning, natural language processing, algorithms, and intelligence standards. The future of AI lies in cutting-edge technologies like supercomputers, quantum computers, and advanced machine learning techniques.

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Market Challenges

Artificial Intelligence (AI) is a transformative technology with applications in various sectors, including data analysis, healthcare, banking, automotive, e-commerce, and more. However, many companies face challenges in implementing AI due to the need for large data sets, specialized infrastructure, and AI expertise. Ethical concerns, regulatory issues, privacy, bias in algorithms, and job displacement are additional considerations. AI technologies such as machine learning, deep learning, generative AI, and edge computing require significant investments. Sectors like IT and telecommunication, retail and e-commerce, agriculture, education, media and entertainment, finance and accounting, cybersecurity, legal and compliance, and operation have adopted AI for customer service, support, experiences, fraud prevention, and workflow management. Biopharmaceutical companies leverage AI for data management, while private sectors use pretrained models and customizable AI from AI marketplaces.

Discover how AI is revolutionizing market trends- Get your access now!

Segment Overview 

This artificial intelligence (ai) market report extensively covers market segmentation by

Component 1.1 Software1.2 Hardware1.3 ServicesEnd-user 2.1 Retail2.2 Banking2.3 Manufacturing2.4 Healthcare2.5 OthersGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Software-  In the dynamic and evolving landscape of the Artificial Intelligence (AI) market, various components fuel its growth. Data analysis is a crucial segment, as businesses harness AI’s potential to derive valuable insights from vast datasets. Healthcare, Banking, Automotive, E-commerce, and other industries embrace AI for improved efficiency, enhanced customer experiences, and innovative solutions. Ethical concerns and regulatory issues surrounding AI’s implementation are under scrutiny, with privacy issues and bias in algorithms being major areas of focus. Job displacement due to automation, robotics, chatbots, and virtual assistants is a significant concern, necessitating the development of skilled AI professionals. Market segments like IT and telecommunication, Retail & e-commerce, Agriculture, Education, Media and entertainment, Finance & accounting, Cybersecurity, Legal and compliance, and Operation leverage AI for fraud prevention, workflow management, and customizable AI solutions. Pretrained models, AI marketplaces, and biopharmaceutical companies are integral components, driving advancements in machine learning, generative AI, generative adversarial networks, transformers, variational autoencoders, diffusion networks, and retrieval augmented generation. Edge AI and Internet of Things (IoT) are gaining traction with edge computing, enabling real-time data processing and analysis.

Download a Sample of our comprehensive report today to discover how AI-driven innovations are reshaping competitive dynamics

Research Analysis

The Artificial Intelligence (AI) market is experiencing exponential growth, driven by advancements in deep learning, data analytics, data science, and cognitive solutions. Cloud computing and quantum computers are revolutionizing the way AI algorithms are developed and deployed. Computer vision and natural language processing are key components of next-generation tech fields, enabling applications in healthcare, finance, and more. SaaS and on-premises solutions offer flexibility in implementing AI, while hardware advancements facilitate parallel processing and big data storage. Pretrained models and machine learning algorithms are essential tools for developers, enabling faster and more accurate AI implementation. Intelligence standards ensure interoperability and reliability, making AI a valuable asset for various industries. AI techniques, such as deep learning and machine learning, continue to evolve, pushing the boundaries of what is possible in this dynamic field.

Market Research Overview

The Artificial Intelligence (AI) market is a rapidly growing industry that focuses on developing intelligent machines capable of performing tasks that typically require human intelligence. These tasks include learning, reasoning, problem-solving, perception, and language understanding. The market encompasses various sectors such as healthcare, finance, education, retail, and manufacturing, among others. AI technologies include machine learning, deep learning, natural language processing, computer vision, and robotics. Companies are investing heavily in AI research and development to create innovative solutions that enhance productivity, improve customer experiences, and drive business growth. The market is expected to continue expanding due to increasing demand for intelligent automation and the integration of AI into various industries.

Table of Contents:

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

ComponentSoftwareHardwareServicesEnd-userRetailBankingManufacturingHealthcareOthersGeographyNorth AmericaEuropeAPACSouth 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

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TÜV Rheinland Joins SEIA and Reinforces Commitment to the U.S. Solar and Renewable Energy Market

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BOXBOROUGH, Mass., Nov. 12, 2024 /PRNewswire/ — TÜV Rheinland of North America is pleased to announce that it has joined the Solar Energy Industries Association (SEIA), underscoring its commitment to advancing the solar and renewable energy industry in the United States. This step reflects TÜV Rheinland’s dedication to supporting the growth of clean energy and providing world-class services that enhance the bankability and reliability of solar projects across the nation.

“We are excited to join SEIA and contribute to the ongoing transformation of the U.S. energy landscape,” said May Wang, US Segment Manager for Solar & Sustainability at TÜV Rheinland of North America. “Our extensive experience in solar and renewable energy, combined with our global network of state-of-the-art laboratories, dedicated expert teams, and comprehensive solutions, enables us to provide cutting-edge services that drive sustainable growth and ensure long-term success in the U.S. market.”

To further support the growth of U.S. Solar manufacturing and renewable energy stations, TÜV Rheinland offers an extended bankability service, meticulously designed by top experts in the solar industry. This service is specifically tailored to help EPCs, investors, and power plant owners accurately assess the return on investment for their solar projects.

“SEIA is glad to have TÜV Rheinland join our organization as the solar and storage industry continues to scale to meet growing demand for electricity,” said Roderick Lewis, senior vice president of sales and business development at SEIA. “We look forward to collaborating with them to further advance the adoption of solar energy across the United States.”

In addition to these specialized services, TÜV Rheinland provides a comprehensive one-stop solution for renewable energy projects, encompassing supply chain and sustainability services. These offerings ensure that every aspect of a project, from inception to operation, meets the highest standards of quality, efficiency, and environmental responsibility.

As the United States aims to revitalize its solar manufacturing industry and increase the share of renewable energy, TÜV Rheinland stands ready to assist in this transformation. With over 150 years of experience in the independent testing, inspection, and certification (TIC) industry, and 42 years specifically in the solar and renewable energy sector, TÜV Rheinland has established itself as a global leader, providing services that ensure quality, safety, and performance across various industries.

TÜV Rheinland’s dedicated team of experts spans Europe, India, the Middle East, Asia, Mexico, and Americas, as well as company’s solar laboratories in Cologne, Shanghai, and Bangalore are at the forefront of innovation, serving top-tier solar panel and PV cell manufacturers worldwide offering unparalleled support to Solar & Energy Storage System power plants.

For more information regarding the solar business, please visit www.tuv.com/solar or contact solar@us.tuv.com.

About TÜV Rheinland
Safety and quality in almost all areas of business and life: That’s what TÜV Rheinland stands for. The company has been active for more than 150 years and is one of the world’s leading testing service providers. TÜV Rheinland has more than 22,000 employees in over 50 countries and generates annual sales of more than 2.4 billion euros. TÜV Rheinland’s highly qualified experts test technical systems and products around the globe, accompany innovations in technology and business, train people in numerous professions and certify management systems according to international standards. In this way, the independent experts ensure trust along global flows of goods and value chains. Since 2006, TÜV Rheinland has been a member of the United Nations Global Compact for more sustainability and against corruption.
Website: www.tuv.com

About SEIA
The Solar Energy Industries Association® (SEIA) is leading the transformation to a clean energy economy, creating the framework for solar to achieve 30% of U.S. electricity generation by 2030. SEIA works with its 1,000 member companies and other strategic partners to fight for policies that create jobs in every community and shape fair market rules that promote competition and the growth of reliable, low-cost solar power. Founded in 1974, SEIA is the national trade association for the solar and solar + storage industries, building a comprehensive vision for the Solar+ Decade through research, education and advocacy. Website: www.seia.org

CONTACT:
Michael García Carbajal
Phone: +52 55 3488 2108
Email: Michael.Garcia@mex.tuv.com

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SOURCE TUV Rheinland

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Equity 1031 Exchange Introduces Cash Incentive Program for 1031 Exchange Referrals

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New program rewards real estate professionals with $225 for qualified referrals

FORT MYERS, Fla., Nov. 12, 2024 /PRNewswire/ — Equity 1031 Exchange is thrilled to announce the launch of a new referral program that offers cash incentives to real estate professionals. The program, which provides a $225 reward for each successful referral, creates new opportunities for real estate agents and brokers to grow their business while connecting their clients with experienced 1031 exchange services.

As investors increasingly seek tax-efficient investment strategies through 1031 exchanges, which require a Qualified Intermediary (QI), this program helps connect real estate professionals with an experienced QI.

“We’re introducing this program to recognize and reward the real estate professionals who trust us with their clients’ 1031 exchange needs,” said Theresa Knower, President of Equity 1031 Exchange. “This program demonstrates our commitment to working with real estate professionals while providing tangible value for their referrals.”

Program highlights:

$225 reward upon completion of first property sale in exchangeStreamlined digital onboarding processAdvanced dashboard for tracking referrals and earningsAccess to expert 1031 exchange advisorsNo cap on earning potential

The program’s launch builds upon Equity 1031 Exchange’s 25-year legacy of excellence, formerly as Midland 1031, and introduces a modern approach to professional referrals. Real estate professionals can now benefit from their network while ensuring their clients receive personalized service through complex 1031 exchange transactions.

Simple three-step process:

Complete and submit referral agreementAccess personalized tracking dashboardEarn rewards upon qualifying transactions

“Our goal is to build strong professional relationships,” added Knower. “We’re offering this incentive because we’re confident that once real estate professionals experience our service quality, they’ll see the value in recommending us to their clients.”

Interested real estate professionals can get more details on the program and sign up here.

About Equity 1031 Exchange

Equity 1031 Exchange is a Qualified Intermediary (QI) under IRS Section 1031, specializing in facilitating seamless, tax-deferred real estate exchanges. With decades of industry experience, Equity 1031 Exchange is dedicated to helping investors preserve and grow their wealth by navigating the complexities of 1031 exchanges. Our team of experienced professionals ensures that each transaction is handled with precision to help you ensure compliance with IRS regulations. Learn more at https://getequity1031.com/.

For more information contact:
Lori Hartigan
Senior Marketing Manager
Equity 1031 Exchange
Email: l.hartigan@trustetc.com

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SOURCE Equity Trust Company

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Pye-Barker Fire & Safety Acquires Sonitrol New England, Enters New Markets and Marks First Rhode Island Location

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ATLANTA, Nov. 12, 2024 /PRNewswire/ — Pye-Barker Fire & Safety – the largest fully integrated and full-service fire protection, life safety and security services provider in the United States – has acquired Sonitrol New England, a regional leader in security and fire alarm services, from the Sonitrol Security Systems network. From this acquisition, Pye-Barker gains two new branches in Rocky Hill, Connecticut, and Riverside, Rhode Island. This marks Pye-Barker’s first location in the state of Rhode Island, helping Pye-Barker expand its full fire code compliance services in the Northeast.

This marks Pye-Barker’s first location in Rhode Island, helping Pye-Barker expand its services in the Northeast.

Sonitrol New England works with thousands of New England customers to protect their businesses, schools, government buildings, healthcare facilities and other commercial entities. The team designs and services fire detection, intrusion detection, video surveillance, panic buttons, access control, and emergency communication systems.

Since its founding in 1972 by Doug Curtiss, Sonitrol New England has remained at the forefront of the latest security technology and team training, efficiently transmitting alarm information to emergency dispatch and first responders.

“For over 50 years, Sonitrol New England has been committed to protecting our neighbors and building highly skilled local teams,” said Doug Curtiss, Sonitrol New England Founder and President. “Joining Pye-Barker is a unique opportunity to add more fire protection services to our offerings and expand career development for our team, while maintaining the localized service that our customers trust.”

“At the heart of Pye-Barker are the local teams who are out protecting their communities every day,” said Bart Proctor, Pye-Barker CEO. “As we continue expanding our geographic footprint, we are proud to bring aboard hardworking teams like those at Sonitrol New England and support their continued service in the neighborhoods where they live and work.”

Sonitrol New England was represented by Mark Sandler, Managing Director at SPP Advisors, in this transaction. Nelson Mullins Riley & Scarborough LLP represented Pye-Barker.

About Pye-Barker Fire & Safety

The U.S. leader in fully integrated life safety systems, Pye-Barker Fire & Safety provides complete fire protection and security systems nationwide. With over 230 locations and 7,000 team members nationwide, Pye-Barker ranks No. 849 on the Inc. 5000 and No. 8 on the SDM 100.

Pye-Barker continues to explore strategic acquisition opportunities. Visit pyebarkerfs.com/acquisitions to see why we’re the industry’s acquirer of choice.

Contact:

Eric Garner
Chief Business Development Officer
801.395.8738
eric.garner@pyebarkerfs.com

Media:

Alycia Volpe
media@pyebarkerfs.com

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SOURCE Pye-Barker Fire & Safety

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