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Work from Home Demand for Smart Technologies

A reduction in office occupancy and lease terminations, due to the growth of remote work, has had an inverse effect on consumer spending. As an example, despite the economic issues in some markets, spending on smart home devices grew in 2022. According to the latest market study by ABI Research, by the end of the year, smart home hardware revenues  -- including devices, hubs, and controllers -- will surpass $30 billion worldwide, that's up by 15 percent over 2021. Smart Home Market Development According to the ABI assessment, driving investments in the face of a sharper economic reality is a growing expectation among consumers for smart home capabilities that deliver greater value. "The COVID pandemic-induced emphasis on home improvement boosted the Smart Home industry," said Jonathan Collins, research director at ABI Research . The Work-from-Home phenomenon moved into a more mainstream awareness that continues to bolster spending as consumers look to replace or improve d
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The Worldwide Semiconductor Demand Outlook

Supply chain resolved, or overcapacity, what's the issue? Global semiconductor revenue is projected to decline by 3.6 percent in 2023, according to the latest worldwide market study by Gartner. In 2022, the market is on pace to grow 4 percent and total $618 billion. Moreover, global semiconductor revenue is forecast to total $596 billion in 2023 -- that's down from the previous forecast of $623 billion. "The short-term outlook for semiconductor revenue has worsened," said Richard Gordon, vice president at Gartner . "Rapid deterioration in the global economy and weakening consumer demand will negatively impact the semiconductor market in 2023." Semiconductor Technology Market Development Currently, the semiconductor market is polarized between consumer-driven markets and enterprise-driven markets. Weakness in the consumer-driven markets is being driven largely by the decline in disposable income caused by rising inflation and loan interest rates. Also, it'

Precision Medicine Spend to Reach $132.3 Billion

Precision Medicine uses molecular info to extract the optimum medical method from diagnostic protocols, by merging the impact of environmental and genetic factors. Data access is essential, with genetic metabolic and clinical data used to build a fuller picture of a patient's biology. Moreover, the primary aim of precision medicine is to design and optimize a pathway for diagnosis, therapeutic intervention, and prognosis, using large biological datasets. Personalized, evidence-based medicine uses stored health data, which includes patient diagnosis, laboratory work, insurance claims, and demographic information. The results enable healthcare providers to predict and prevent some illnesses. Precision Medicine Market Development According to the latest worldwide market study by Juniper Research, the total investment in precision medicine will reach $132.3 billion globally by 2027 -- that's increasing from only $35.7 billion in 2022. The significant market growth of 270 percent is

Digital Transformation Investment at $3.4 Trillion

Business technology leadership matters. Across the globe, more leaders have been pursuing bold Digital Transformation (DX) initiatives with the goal of creating new sources of business value through digital products, services, and experiences. As an additional benefit, the COVID-19 pandemic revealed that digital transformation efforts improve an organization's resilience against global market disruptions. Global DX investment is forecast to reach $3.4 trillion in 2026 with a five-year compound annual growth rate (CAGR) of 16.3 percent, according to the latest worldwide market study by International Data Corporation (IDC). Digital Transformation Market Development "Despite strong headwinds from global supply chain constraints, soaring inflation, political uncertainty, and an impending recession, investment in digital transformation is expected to remain robust," said Craig Simpson, senior research manager at IDC . The benefits of investing in DX technology -- including aut

Low Earth Orbit Satellite Network App Trends

Wireless communication services continue to evolve and serve the voice and internet access needs of people in rural or remote areas of the world. Geostationary satellites were first to market, and now other satellite systems are pervasive.  The deployment of Low Earth Orbit (LEO) satellite constellations for extending terrestrial network coverage are the current driver of new wireless services in the global telecommunications sector. According to the latest worldwide market study by ABI Research, this adoption will culminate in $141 billion worth of annual service revenues from satellites by 2030. Satellite Services Market Development "Satellite communications services have seen a new wave of enthusiasm and convergence with terrestrial networks looking to extend past their zones of coverage and bridge the digital divide," said Andrew Cavalier, industry analyst at ABI Research . Market developments have shown that satellite services like IoT, backhaul, commercial broadband, an

How to Apply Sustainability to Drive Value Creation

Global climate change policy initiatives have been an emerging topic for CEOs and their leadership teams, as they look to the future. Many organizations are preparing to play their part and help reduce carbon emissions. Eighty-seven percent of business leaders expect to increase their organization’s investment in sustainability over the next two years, according to the latest worldwide market study by Gartner. Customers are the stakeholder group creating pressure for these organizations to invest or act on sustainability issues -- selected by 80 percent of executives, followed by investors (60 percent) and regulators (55 percent). Sustainability Market Development "Sustainability enables businesses to cope with disruption," said Kristin Moyer, VP analyst at Gartner . "Economic uncertainty, geopolitical conflict and escalating materials and energy costs are forcing businesses to reexamine all forms of expenditure." According to Gartner, this focus on essentialism --

Artificial Intelligence for National Border Security

National border protection agencies are under pressure to provide the highest level of security in the face of growing threats, such as increasing illegal migration and international terrorism. Now, government agencies are embracing advanced border security technologies to aid in effectively and reliably securing national borders. These solutions look to detect and identify potential threats and prevent them from escalating to a point that may jeopardize security. Security Surveillance Market Development Traditional border security patrols and Closed-circuit Television (CCTV) surveillance systems aren't adequate protection, and agencies must increasingly deploy new solutions to stay ahead of criminals and other potential threats to ensure the safety of a country’s borders. According to the latest market study by Juniper Research, the value of the border security technology market will exceed $70 billion globally in 2027 -- that's rising from $48 billion in 2022. Growing by 47 p

Business Tech Investment Growth Remains Stable

Organizations are now in the digital business transformation era, where acting as a digital-first enterprise is a CEO mandate, and a strategic differentiator to ensure future prosperity and growth. Enterprise investment in business technology and related digital application growth initiatives has been remarkably robust, in spite of the currently projected outlook of global economic headwinds. Worldwide information technology (IT) and business services revenue will grow by 5.7 percent this year and is forecast at 5.2 percent for 2023, according to the latest worldwide market study by International Data Corporation (IDC). Business Technology Market Development IDC has maintained its outlook for the worldwide Services market against the backdrop of a potential global recession. Worldwide GDP growth worsened since earlier in the year and is now expected to grow by 2.7 percent this year and 2.4 percent in 2023. IDC remains cautiously optimistic based on reported results from vendors in the

Mobile Identity and Digital Wallets Gain Momentum

In 2021, it is estimated that 322 million mobile identities were in circulation globally. By 2027, it will have more than tripled to 1.02 billion, according to the latest worldwide market study by ABI Research. Two years of global market disruptions have fueled this trend. The COVID-19 pandemic set the acceleration of mobile identity technology's adoption in motion. By solving issues relating to physical contact in identity applications, the implementation of Mobile IDs aligned with other trends of digitalization from national and regional governments. Digital Identity Market Development Such policy strategies are exemplified through the European Commission's aim to improve identities within the electronic Identification, Authentication and Trust Services (eIDAS) revision in 2023. "This marks a significant leap in mobile identities, where potential programs like the coming 'European Digital Identity Wallet' may inspire and emerge, seeing substantial market growth,&

How to Drive Value Creation from Digital Business

Across the globe, many forward-thinking CEOs and CFOs continue to fund business technology investments that enable meaningful and substantive digital transformations, ahead of their industry peer group. That's why CIOs and other IT leaders must now accelerate the quest for value creation and drive digital growth from those ongoing investments, according to the latest market study by Gartner. "The pressure on CIOs to deliver digital dividends is higher than ever," said Daniel Sanchez-Reina, VP Analyst at Gartner . "CEOs and boards anticipated that investments in digital assets, channels, and digital business capabilities would accelerate growth beyond what was previously possible." Digital Business Market Development   CIOs expect IT budgets to increase 5.1 percent on average in 2023 -- that's lower than the projected 6.5 percent global economy inflation rate. A Gartner survey analysis revealed several ways in which CIOs can deliver "digital dividends&qu