True MicroLED Large Format Display Market Primed to Break $1B Annual Barrier by 2027 — Futuresource Reports
The True MicroLED display market for pro AV and consumer televisions is set to skyrocket. According to a newly released report from Futuresource Consulting, it will accelerate from just $24.0M in 2023 to reach annual revenues of $26.2B in 2032, despite expected aggressive price erosion. The report also notes the market will break the $1B barrier in 2027 and will continue to generate a cumulative $63B market within the first ten years. The route to progress is not without its obstacles.
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Cloud Concentration Now a Significant Emerging Risk for Many Organizations — Gartner
For the second consecutive quarter, a survey conducted by Gartner, Inc. revealed that dependence on a specific cloud provider for multiple business capabilities is one of the top five emerging risks for organizations. “The risk associated with cloud concentration is fast losing its ‘emerging’ status as it is becoming a widely recognized risk for most enterprises,” said Ran Xu, director, research in the Gartner Legal Risk & Compliance Practice. “Many organizations are now in a position where they would face severe disruption in the event of the failure of a single provider.”
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The Evolving Anatomy of Automotive Audio: Market on Track to Achieve $26B by 2027 — Futuresource Consulting
Drivers and passengers expect high-quality audio in their cars - and those expectations are growing. Many automotive companies now use audio to differentiate themselves and promote branded audio. As the automotive audio system market continues to gain traction, it is expected to generate $25B by the end of 2023 and rising to $29B by 2027.
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Forrester’s Predictions 2024: Sixty Percent Of Generative AI Skeptics Will Embrace The Technology — Knowingly Or Not
Forrester predicts that by 2024, 60% of those who are skeptical about generative AI will end up using and appreciating the technology, without even realizing it. Consumers who are skeptical of genAI will eventually adopt it for tasks that can boost their creativity and productivity, such as seeking help from conversational assistants, summarizing and translating content. Furthermore, the investment in genAI by business, technology, and marketing leaders in the coming year will increase employees' creative problem-solving time by up to 50%, driving customer-centric innovation and creating greater business value.
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Global PC Shipments Decline Again in the Third Quarter of 2023 Amid Signs of Market Improvement, According to IDC
The downward spiral for PC shipments continued during the third quarter of 2023 (3Q23) as global volumes declined 7.6% year over year with 68.2 million PCs shipped, according to IDC. Though demand and the global economy remain subdued, PC shipments have increased in the last two quarters, slowing the annual decline rate and indicating that the market has moved past the bottom of the trough.
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BYOD Market Set to Expand as Benefits for Both School and EdTech Players Emerge — Futuresource Consulting
The demand for BYOD is set to increase as the pandemic demonstrated the true value for the wider education market. The benefits aren’t just confined to EdTech channel specialists, but schools and students too. Schools can provide their students with the benefit of a more personalized learning experience without impacting their ever-tighter IT budgets.
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55% of Organizations are in Piloting or Production Mode with Generative AI, Finds New Gartner Poll
A recent Gartner poll shows organizations are not just talking about generative AI but investing time, money and resources to move it forward and drive business outcomes. In fact, 55% of organizations reported increasing investment in genAI since it surged into the public domain ten months ago, and has now found a place on CEOs’ and boards’ agendas as they seek to take advantage of the transformative potential of this technology.
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Budget Crunches, Information Overload, And Generational Differences Are Protracting Buying Cycles, Reveals New Forrester Survey
According to Forrester, at least a third of B2B buyers in North America and Europe, and over a quarter in Asia Pacific, prioritize price in their purchasing decisions due to macroeconomic headwinds. To simplify the buying process, providers should offer transparent pricing and demonstrate their offerings' ROI throughout the journey.
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TV Shipments to Fall by 4.1% in 2023 Due to Weak Macroeconomic Conditions — Futuresource
TV sales remained weak during the first half of 2023 due to poor global macroeconomic conditions and out-of-sync product replacement cycles following unprecedented demand in major markets during 2020. Through the second half of 2023, Futuresource expects demand trends for TVs to remain sluggish as the economy continues to stabilize. A further drop in shipments of 4.1% during 2023 is anticipated, totalling 210.9 million units.
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Global Security and Risk Management Spending to Grow 14% in 2024, Forecasts Gartner
Worldwide end-user spending on security and risk management is projected to total $215 billion in 2024, an increase of 14.3% from 2023, according to a new forecast from Gartner, Inc. 2023 global security and risk management end-user spending is estimated to reach $188.1 billion. The continuous adoption of cloud, continuous hybrid workforce, rapid emergence and use of GenAI, and the evolving regulatory environment are forcing SRM leaders to enhance their security and risk management spending,
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Worldwide UC&C Revenues Grew 6.9% in Q2 2023 — IDC
Worldwide revenues in the Unified Communications & Collaboration (UC&C) market grew 6.9% year over year and 2.4% sequentially to $15.9 billion in the second quarter of 2023 (2Q23), according to IDC. For 2023, worldwide UC&C revenue is forecast to grow 8.6% year over year to $64.7 billion. This represents an upward revision of roughly $500 million from the previous quarter's forecast. In volume terms, the worldwide UC&C market grew 11.4% year over year and 2.9% sequentially in 2Q23 to $620.7 million.
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Local Broadcast TV Ad Revenues to Top $23.8 Billion in 2024, Bolstered by Political and Increased Auto and Legal Ad Spending, BIA Estimates
BIA Advisory Services estimates the local broadcast TV industry in 2024 will generate $23.8 billion in advertising revenue, with $21.7 billion in over-the-air (OTA) revenue and $2.1 billion in digital television. This estimate indicates an 11 percent increase over 2023 for the television industry.
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60% of Seller Work to Be Executed by Generative AI Technologies Within Five Years, Expects Gartner
By 2028, 60% of B2B seller work will be executed through conversational user interfaces via generative AI sales technologies, up from less than 5% in 2023, according to Gartner, Inc. “Sales operations leaders and their technology teams must prepare for the convergence of new forms of artificial intelligence, dynamic process automation and reinvented deal-planning activities that will transform the sales function,” said Adnan Zijadic, Director Analyst in the Gartner Sales Practice.
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Education, Pro AV and Gaming: Reassessing the Esports Landscape after COVID-19; Futuresource Reports
Esports has come a long way from its reputation as being a niche hobby for teenagers. In recent years, esports has rocketed into a multi-billion-dollar opportunity, spanning multiple industries and garnering audiences on a global scale. From 2019 to 2020, revenues grew by 5%, and the following year, they jumped by another 17%. Sponsors and publishers are ramping up their contributions, and Futuresource expects to see a positive outlook for the industry over the next five years.
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Streaming Services Become Largest Medium for Audio Listening, New Study Finds; Futuresource Consulting Reports
A new consumer research study by Futuresource Consulting has found that streaming services are now the largest medium for audio consumption, as traditional FM/AM and DAB radio falls behind into third place. 55% of audiences stream audio for at least one hour a week, while those who listen to the radio for the same amount of time fell to 53%.
The firm’s new Audio Tech Lifestyles report dives into consumer behaviours surrounding audio and music, broken down by core demographics.
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Software-Defined Vehicles Will Create a More Than $650 Billion Value Potential for the Auto Industry by 2030—BCG Reports
The automotive world is undergoing a radical change, in which two completely different industries—automotive and tech—are rapidly merging, providing the industry with its most challenging transformation in over a century. This is marked by a shift from internal combustion engines towards electric vehicles (EVs) and a shift from vehicles that are almost exclusively mechanical machines to ones with increasingly complex software-defined systems.
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IDC's Worldwide Quarterly Ethernet Switch and Router Trackers Show Strong Market Growth Continuing in Second Quarter of 2023
The worldwide Ethernet switch market grew revenues 38.4% year-over-year in the second quarter of 2023 (2Q23) to $11.8 billion. The total worldwide enterprise and service provider router market recorded $4.6 billion in revenue in 2Q23, a 9.4% year-over-year increase. A major driver of growth in the market continues to be the easing of supply chain issues that began during the global pandemic. This trend is particularly relevant in the non-datacenter segment of the Ethernet switching market, where revenues grew 52.5% year over year in 2Q23, while port shipments rose 16.6%.
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Connected TV & Set Top Operating System Market Forecast 2023-2028; Rethink Technology Resarch Reports
Huawei’s ambitions to become a global challenger to Android appear to have been completely neutered, since the last time that Rethink TV examined the operating system landscape of video devices. Specifically looking at the set top boxes of operators, as well as smart TVs and connected TV devices from retail sources, it is now clear that Android will achieve complete dominance over RDK on the global stage, with HarmonyOS confined to China. However, will that position, against the backdrop of a turning tide of sentiment for the Silicon Valley titans, lead to antitrust turmoil?
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Fines Related to Mismanagement of Data Subject Rights Will Exceed $1 Billion by 2026, Predicts Gartner
By 2026, fines due to mismanagement of subject rights will have increased to over $1 billion, according to Gartner, Inc. For SRM leaders in B2C organizations, automating subject rights or consumer privacy rights management has become a basic requirement and a prerequisite for building trust. The management of SRRs can enhance customer trust levels by providing a positive privacy user experience (UX).
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Global Fintech Funding Falls to $52.4 Billion - But it's Not All Bad News, Says KPMG
The first six months of 2023 were difficult for the global fintech market, with total funding dropping from US$63.2B in H2’22 to US$52.4B in H1’23. The cloud of uncertainty permeating the market continued to wear on investors, driven by factors including global macroeconomic concerns, geopolitical tensions, and tech sector challenges. The collapse of several US banks early in 2023 likely kept many investors in wait-and-see mode during H1’23.
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