Posts tagged with "Jastra Kranjec"

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Digital Health Revenues to Jump 34% by 2023

Although the COVID-19 pandemic put enormous pressure on the global healthcare sector, one of the promising side effects has been the rapid growth of digital health services. During the crisis, hospitals were facing the most challenging public health threat they have ever experienced. However, digital health has stepped in providing innovative and effective solutions for chronic patients or those in need of immediate healthcare. As a result, the revenues of the entire sector jumped by 30% YoY, reaching $109bn in 2020.

According to data presented by Trading Platforms, digital health revenues are expected to hit $132.2bn in 2021. The entire industry is forecast to continue growing and reach a $177.5bn value by 2023, a 34% increase in two years.

Digital Fitness Revenues to Jump by 40% in Two Years, eHealth Segment Follows with a 27% Increase

The digital health market covers many technologies, including mobile health apps, connected wearable devices, and telemedicine. By tracking physical activities or identifying early signs of developing diseases, these technologies enable millions of people worldwide to monitor and record their health conditions more efficiently and in a user-friendly manner.

The surge in the use of the internet and smartphones and the shift towards a healthier lifestyle have been driving the impressive growth of the entire sector even before the pandemic. However, the COVID-19 has undoubtedly fueled the widespread use of digital health apps and solutions.

In 2019, the entire market generated $83.3bn in revenue, revealed the Statista data. After the pandemic struck, revenues jumped by $25.6bn in a year. The widespread use of digital health solutions is expected to continue this year, with the entire sector growing by 20% YoY. By 2023, global digital health revenues are forecast to increase by another $45.3bn.

As the largest segment of the market, digital fitness is expected to generate $76.3bn in revenue in 2021. By 2023, this figure is forecast to grow by nearly 40% to $106.2bn.

E-health services are set to witness a 27% growth in this period, with revenues rising from $55.8bn to $71.3bn.

China and the United States to Generate 50% of Total Revenues

The Statista survey also revealed the following years are set to witness substantial growth in the number of people using digital fitness apps and eHealth services.

In 2021, the unified market is expected to count close to 3 billion users, almost 40% more than before the pandemic struck. By 2023, this figure will jump over 3.5 billion and continue growing to 4 billion by 2025.

The number of people using digital fitness apps is expected to jump by 27% in the next two years, rising from 980 million to over 1.2 billion. The eHealth segment is forecast to witness a 17% growth in this period, with the number of users reaching 2.2 billion by 2023.

As the world`s largest digital health market, China is forecast to generate $38.5bn in revenue in 2021, up from $30.8bn last year. In the next two years, the Chinese market is expected to hit $52.7bn value.

With 261.6 million users and $26.3bn in revenue in 2021, the United States ranked as the second-largest market globally. By 2023, this figure is set to jump to $31.4bn.

India, Japan, and Germany follow with $6.2bn, $4.2bn, and $3.5bn in revenue in 2021, respectively. Statistics show that China and the US, as the two largest markets, are expected to generate nearly 50% of global digital health revenues this year. By 2023, their combined revenue share is expected to slip to 47%.

The full story can be read here.

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ESPN+ Nearly Doubled in Subscribers Last Year

ESPN+ hit 13.8 Million Subscribers, a Massive 75% Increase Year-over-Year

Over the last years, ESPN’s business model has changed, both from a digital and broadcast perspective. The multinational cable sports channel is putting a bigger focus on its additional paid service, ESPN+, as the number of sports fans who chose live streaming instead of other media platforms continues to rise.

According to data presented by Safe Betting Sites, the number of ESPN+ subscribers hit 13.8 million as of April, a massive 75% increase year-over-year.

The Number of Subscribers Doubled Amid the Pandemic

Not meant as a replacement for the cable channel, the ESPN+ has become essential for sports fans who don’t have the cable channel to access ESPN’s content and coverage. It has also grown into a necessary service for sports fanatics, searching for exclusive access to specific sports coverage, special analysis, events, shows, and much more.

In the first quarter of the fiscal year 2019, ESPN+ had around 1.4 million subscribers, revealed the Walt Disney Company’s financial results. Over the next twelve months, this figure jumped by 370% to 6.6 million. However, statistics show the number of subscribers surged after the pandemic struck, as more and more sports fans started choosing live sports streaming over other media platforms. Since January 2020, the number of ESPN+ subscribers more than doubled, rising from 6.6 million to 13.8 million.

Almost 40% of Sports Fans Choose Live Streaming Content, China Leads in Global Comparison

The global YouGov survey conducted in January 2021, revealed some interesting facts about the platforms and media channels sports fans choose to watch sports content. Although live TV still represents the global number-one choice for watching sports, almost 40% of sports fans prefer live streaming content. Statistics show that sports fans aged between 18 and 24 lead in watching live sports streaming, with 47% of them using these services. Millennials, aged between 25 and 34, ranked second with 45% of respondents who stated they do the same.

The social media platforms ranked as the third-most-popular choice for watching sports content, with a 34% share among respondents. Online content, mobile apps, and newspapers followed with 25%, 24%, and 19% share, respectively. Only 8% of all respondents followed sports via magazines.

The survey also showed China represents the leading market for live sports streaming, with 54% of respondents who use online streams to follow the sport. Indonesia, Taiwan, the Philippines, and the United Arab Emirates follow with 50%, 49%, and 42% share, respectively.

The United States, France, and Japan were on the other side of the list with a 17%, 16%, and 13% share, respectively.

Read the full story here at Safe Betting Sites’ website.

Art by Mina Tocalini for use by 360 Magazine

Cruise Industry Declines Following Pandemic

Cruise Industry to Generate $6.6B in Revenue in 2021, Almost Five Times Less than in 2019

The COVID-19 had a devastating impact on the global cruise industry, with cruise lines practically disappearing after the pandemic hit and all operators witnessing double-digit sales drop.

However, it seems that 2021 might bring a new hit to the sector, which is already on its knees. According to data presented by StockApps, the entire cruise industry is expected to generate $6.6bn in revenue in 2021, almost five times less than in 2019.

Confidence in the Cruise Lines Plummeted Amid Pandemic, The Number of Users Down by 76% in Two Years

When the COVID-19 hit, cruise ships immediately suffered high infection rates among passengers and crew. Thousands of people were stranded on board, spending months in quarantine. By the end of April 2020, more than 50 cruise ships confirmed hundreds of COVID-19 cases. It didn’t take long for cruises to be depicted as places of danger and infection.

In 2019, the entire cruise industry generated $27.4bn in revenue, revealed the Statista data. After the pandemic struck, revenues plummeted by 88% in a year to $3.3bn in 2020. Although this figure is expected to almost double and hit $6.6bn in 2021, it still represents a massive 77% drop compared to pre-COVID-19 levels.

Statista data indicate it will take years for the cruise industry to recover from the effects of the COVID-19 pandemic. By 2023, revenues are projected to reach $25.1bn, still $2.3bn less than in 2019. In 2024, cruise line revenues are expected to rise to over $30bn.

As people lost confidence in the entire cruise industry amid the pandemic, the number of cruise line users plunged to the deepest level in years. In 2019, almost 29 million people worldwide had chosen cruise lines for their vacation. Last year, this figure dipped to 3.4 million. Although the number of cruise line users is forecast to recover to 6.7 million in 2021, it still represents a massive 76% drop in two years.

Combined Revenues of Top Five Cruise Markets Still $16B Under Pre-COVID-19 Levels

The Statista survey revealed that, despite a $10.24bn revenue drop in 2020, the global cruise giant Carnival Corporation remained the largest player in the market with a 45% market share in 2021. Royal Caribbean Cruises ranked second with a 25% share. Norwegian Cruise Line and MSC Cruises follow, with 15% and 5% share, respectively.

Analyzed by geography, the United States represents the world’s largest cruise industry, expected to generate around $2.8bn in revenue this year, 78% less than in 2019.

Revenues of the German cruise line market, the second-largest globally, are expected to hit $830 million in 2021, compared to $2.8bn before the pandemic struck. The UK’s cruise companies are forecast to generate $650 million in revenue, down from $2.4bn two years ago. Chinese and Italian markets follow, with $570 million and $218 million in revenue, respectively.

Statistics show that combined revenues of the world’s five largest cruise markets are expected to amount to over $5bn in 2021 or $16bn less than in 2019.

The full story can be read here at StockApps’ website.

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Top Five Tech Billionaires Worth More Than 80 Poorest Countries Combined

The COVID-19 has played a significant role in wealth redistribution, with tech companies and their founders emerging as the biggest winners. While aviation, real estate, and hospitality industries have been pushed to the bottom of the global rich list, the tech industry billionaires have witnessed the largest wealth gains in the last year.

According to data, the combined net worth of the five wealthiest people in the US tech industry hit $567 billion in February, more than the gross domestic product (GDP) of the 80 poorest countries combined.

Jeff Bezos’ Wealth Surged by 65% Year-Over-Year (YoY) and Hit $187 billion in 2021

As the COVID-19 spread, the world has relied on many technological tools across different sectors­–from business and education to commerce and health care. Tech companies that have provided the best solutions amid the pandemic witnessed the most significant revenue surge, while their founders got richer, to the tune of billions.

Amazon products have become one of the most demanded in the world during the pandemic, as it keeps providing tech items, groceries, and entertainment to people amid lockdown. Because of the high demand for its services, the company had to hire an additional 175,000 workers to keep up with surging demand.

According to the Forbes billionaire list, the COVID-19 has helped Amazon founder and CEO Jeff Bezos to grow his wealth by $74 billion in the last year, with his net worth reaching $187 billion this month. The International Monetary Fund data shows this figure is closest to New Zealand and Iraq’s GDP, which ranked 52nd and 53rd globally with $193.5 billion and $178.1 billion, respectively.

Bill Gates, the Microsoft founder, is the second wealthiest person in the US tech industry, and globally. The net worth of the billionaire working with the WHO and drug makers to defeat the coronavirus is currently standing at $120billion. Statistics show Gates’ wealth grew by $22billion in the last year and is now closest to Morocco’s GDP, which ranked 59th globally.

As the fifth-largest tech company globally, Facebook has also witnessed impressive growth in 2020. The Facebook shares rose by 26% in the last year, pushing its CEO’s fortune up by $39 billion to $93.7 billion. This figure means that Mark Zuckerberg’s wealth is $700 million above Puerto Rico’s GDP, which stands at $93.9 billion.

The chairman, chief technology officer, and co-founder of software giant Oracle, Larry Ellison, and co-founder of Google, Larry Page, ranked as the fourth and fifth tech billionaires globally, with $84.9 billion and $80.4 billion in net worth as of this month. Their wealth is the closest to Sri Lanka and Dominican Republic’s GDP, which ranked 66th and 67th globally, with $81.1 billion and $77.8 billion, respectively.

Top Five Tech Billionaires Worth more than GDP of Sweden, Thailand or Belgium

According to Forbes and International Monetary Fund data, the cumulative wealth of the top five tech billionaires also surpasses the GDP of several countries considered to be economic powerhouses. For example, their combined net worth is bigger than the GDP of Austria, Norway, or United Arab Emirates, which ranked 28th, 33rd, and 35th globally with $432.8 billion, $366.3 billion, and $353.9 billion, respectively.

Statistics show that the five tech billionaires’ wealth is the closest to Poland and Sweden’s GDP, which ranked as the 23rd and 24th economies globally. The two countries’ gross domestic product stood at $580.9 billion and $529 billion in 2020.

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Global AI Spending to surge by 120% and hit $110bn by 2024

By Jastra Kranjec

Recent years have witnessed a swell in the adoption of artificial intelligence solutions, revolutionizing industries, and helping businesses boost growth. The rising volume and complexity of business data are set to continue driving AI adoption in the following years, causing a surge in global AI spending.

According to data presented by BuyShares.co.nz, global artificial intelligence spending is expected to surge by 120% and hit $110bn by 2024.

Global AI Spending Jumped 33% YoY, Despite COVID-19 Crisis

Businesses across the world use AI technology to be innovative and scalable. Using automation, deep learning, and natural language processing can improve their decision-making, efficiency, speed, and help predict trends.

In 2015, companies and organizations worldwide spent $5bn on implementing AI systems in their business, revealed the IDC 2020 Worldwide Artificial Intelligence Systems Spending Guide. In the next three years, this figure jumped five times to $25bn. Statistics show that 2019 witnessed a $37.5bn worth of investments into AI business solutions, a 650% jump in four years.

Increased investments in AI technology continued in 2020, with organizations expected to invest $50.1bn in AI systems, despite the COVID-19 crisis. The following years are set to witness remarkable growth in global AI spending, with the figure surging by almost 120% to $110bn by 2023. 

Automated customer service, sales process automation, automated threat intelligence and prevention, and IT automation were the leading use cases for AI in 2020, accounting for nearly a third of total AI spending this year. However, the IDC data show that automated human resources, IT automation and pharmaceutical research and discovery are the fastest-growing use cases.

Life Sciences and Retail Lead in Adoption of AI

The IDC data indicate the retail industry and the banking sector are expected to spend the most on AI solutions in 2020. The retail companies primarily focused their AI investments on improving customer experience via chatbots and recommendation engines. Banks are expected to keep investing in AI-driven fraud prevention and program advisors. Discrete manufacturing, process manufacturing, and healthcare round out the top five industries for AI spending this year.

The life sciences sector, including biotech, pharma and biomedical companies, has the most significant share of organizations that have adopted AI, revealed the Capgemini`s AI-Powered Enterprise survey.

Statistics show that 67% of organizations operating in this market adopted AI at scale, while another 33% launched AI pilots that are still undeployed in production. The retail industry ranked second, with 51% of companies utilizing artificial intelligence technology. The consumer products sector follows with a 44% share.

The Capgemini data show the automotive industry represents the fourth-leading sector, with 17% of companies successfully using AI in production. Another 49% of automotive companies have deployed a few use cases in production on a limited scale. The telecom industry follows, with a 14% and 57% share, respectively.

The full story can be read here: https://buyshares.co.nz/2020/10/20/global-artificial-intelligence-spending-to-surge-by-120-and-hit-110bn-by-2024/