Enhanced Features of Chatbots to Aid Employment across Several Enterprises

A chatbot refers to an artificial intelligent robot which has been designed to interact or communicate with humans through auditory or textual methods, basically over the internet. It is a computer based software that enables conversation between machine and human via artificial intelligence. A chatbot is programmed and designed to support text, speech recognition, and animation to provide a virtual user interface. Chatbots employ natural language processors to encourage a conversation with the user leading to an enhanced customer experience in applications such as healthcare, retail, and e-commerce. These chatting robots may be accessed via several platforms such as computers, smartphones, social networking websites, and hypertext markup language (HTML) pages. They can interact with their users using several languages and graphical designs and format based on the application of the end user such as a 3D animated creature, animal, or a cartoon character. 

According to a report published by Transparency Market Research, the global chatbot market is expected to witness an outstanding 27.8% CAGR between 2016 and 2024. In 2015, the market was valued at US$113.0 mn and is projected to rise to a valuation of US$994.5 mn by the end of 2024. 

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How are large enterprises efficiently utilizing the features of the chatbots?

The global chatbot market can be simplified into two simple segments according to the size of the organizations that use them. The medium and small enterprises are dwarfed by the growing utility of chatbots in large enterprises. Large enterprises regularly employ chatbots for customer engagement procedures and promotional activities. The extensive use of chatbots helps these enterprises to expand their consumer pool and lift their promotional rate. Over the coming years, the large enterprise’s segment is expected to lead the global chatbot market in terms of revenue. 

These enterprises are also likely to benefit from the automation of business process that chatbots are likely to bring into function, thus further increasing their involvement in social media and improving the marketing of their products. Thus, leading companies are also introducing new robots to fulfill the consumer demands. For instance, recently Microsoft released another experimental chatbot known as Zo. It was released on the social app Kik. 

How is the shortfall in the capabilities of chatbot likely to act as a hindrance in the growth of the market?

The primary factor that is expected to hinder the growth of the global chatbot market is the improving capabilities of chatbots as compared to the fields it can be employed in. Although, voice messaging and text messaging are accepted across several industries, there are certain issues that still need to be addressed such as integration, security, monitoring, and chatbot management. 

Which region should be the main focus for the chatbot manufacturers?

Among all the regions of the global chatbot market, North America led the market in 2015 with a valuation of US$52.7 mn and is expected to continue its domination over the market until 2024. The growing innovation in chatbot and advancement in robot technology along with demand for easy services are the primary factors driving the growth of the market. However, Asia Pacific is also expected to exhibit significant growth over the forthcoming years. 

Mobile TV Market - Driven by High Penetration of Smartphones, Number of Mobile TV Subscriptions to See More Takers

Owing to the high penetration of tablets and smartphones among consumers, the demand for advanced services has also considerably increased. According to a recent survey, in 2016, the number of internet users has risen to approximately 3.4 billion with a penetration rate of over 46%. The development of advanced tablets and smartphones with enabled television service is likely to fuel the rate of mobile TV subscriptions. 

According to a report published by Transparency Market Research (TMR), the global mobile television market is likely to expand at a 9.5% CAGR from 2016 to 2024. In 2015, the market stood at a valuation of US$7.69 bn and is estimated to be worth US$17.02 bn by the end of 2024. Regionally, Asia Pacific held the leading share in 2015 in the global mobile TV market is projected to maintain a lead until 2024. The rising demand for mobile television in Asia Pacific is likely attributed to the mounting adoption of pay TV services owing to the increasing number of television handsets in the region. 

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Which regions are expected to emerge as the leading contributors to the growth of the global mobile television market?

The mobile TV market is spread across regions such as Latin America, Asia Pacific, Europe, North America, and the Middle East and Africa. Of these regions, Asia Pacific emerged as the most lucrative market owing to the high penetration of TV-enabled smartphones coupled with the rising subscriptions of mobile television services. Furthermore, the mobile TV markets in the Middle East and Africa and Latin America are expected to grow at a significant rate as a result of the improving economic strength of the countries in these regions and mounting investments in long-term evolution (LTE) networks. 

Developed countries are also taking initiatives to expand mobile TV services and enhance their adoption among various sections of consumers. For instance, recently, a leading multinational telecom conglomerate of the U.S., AT & T, added direct TV mobile and TV everywhere services to its existing list of services. This development is expected to increase the subscription of mobile TV services to 30 million mobile phones in the U.S.

How are alternative mediums likely to affect the growth of the mobile TV market? 

Alternative mediums such as online video streaming platforms and pay websites are expected to impede the adoption of mobile TV in the forthcoming years. Many online channels and websites provide free video services to consumers. All that consumers have to do is avail an internet pack. Moreover, government laws concerning net neutrality are further expected to emerge as challenges for mobile television service providers. The high cost of mobile TV subscriptions being provided by leading telecom operators is another factor that is likely to inhibit the global mobile TV market growth. 

Which service is likely to create profitable growth opportunities for service providers? 

Telecom operators in the global mobile TV market provide services such as pay TV and free to air services. Among these, the most popular services are the pay TV services which also include video on demand. The rising demand for premium video content on regional channels such as movies and live sports through mobile TV services is anticipated to fuel the adoption of video on demand (VoD) services. However, the share of free to air services is likely to decline over the coming year as a result of the shifting consumer preference towards premium video and television content.

eDiscovery Market to Witness Significant Growth with Increasing Usage of Mobile Devices

eDiscovery solutions are being increasingly adopted by governments and regulatory agencies. Increasing volume of electronically stored information (ESI) and growing usage of social media in organizations has increased the demand for on-premise as well as off-premise eDiscovery software solutions. With legal work continuing to move in-house at corporations, internal experts are focusing on cyber security and eDiscovery solutions. The global eDiscovery market is estimated to expand at a CAGR of 16.2% during the period between 2014 and 2020. The global eDiscovery market was worth US$5.5 bn in 2013.

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eDiscovery Solutions: Steep Costs Restrain Organizations from Investing in eDiscovery
It is no secret that eDiscovery solutions are costly. In fact, it has been estimated that eDiscovery costs alone account for around 90% of litigation costs. The high cost associated with eDiscovery processes is expected to hinder the growth of the global eDiscovery market. Investing in eDiscovery becomes more expensive if organizations do not take some preparatory steps. To minimize exposure to steep eDiscovery costs, following are some of the proactive steps firms need to take:

Record Retention Policy: In a year, the total amount of data received or generated by the average office worker is huge. Though the cost of hard drives has relatively gone down and allowed companies to buy more storage space, this is not the ideal way out. Organizations need to devise a record retention policy that determines when documents can and should be deleted.

A Catalogue of Historical Organizational Charts: A good organizational chart helps immensely during legal investigations. It has been pointed out by courts that organizational charts are usually neglected while analyzing discovery failures. Using and updating an organizational chart makes it easier for companies during legal hassles.

Data Map: A data map is of utmost importance to keep a track of all the different locations where ESI has been stored. An ideal data map would reveal the various network storage location, computers, handhelds, and cloud servers that the organization uses for its business purposes. Further, a data map would also note which of those sources come under automatic deletion protocols.

Legal Hold Plan: By designing implementation and monitoring procedures, organizations can streamline the time-sensitive process of implementing a legal hold.

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There is no foolproof way to avoid liability when it comes to electronic data. However, a good eDiscovery strategy helps in this regard immensely. In the near future, the growing usage of mobile and handheld devices is anticipated to instigate the next eDiscovery wave. Civil litigations and regulatory audits will be witnessing a radical shift with the increased amount of digital data and introduction of advanced eDiscovery tools. With the development of new eDiscovery tools, the overall eDiscovery process is evolving rapidly. Organizations need to update their eDiscovery strategies accordingly.

Weight Loss Stomach Pump Market - Latest trends in Healthcare Industry: Future trends and Market Forecasts by 2024

Weight loss stomach pump is a device which provides effective control over the calorie absorption by the body. It is an external pump that spill of stomach contents into the toilet. The device is a minimally invasive which includes a tube that goes inside the stomach to port outside. The device is used to lose weight easily than people who use to have controlled diets, surgery or batch of devices to make the stomach smaller. Patients need to be regularly monitored by the health care provider and should be guided by a diet consultant in order to reduce their calorie intake.  As per the clinical trials reports, the average patient observe a loss in 46 pounds in the first year and 50 pounds in the following year. 

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Weight loss stomach pumps are usually utilized by bulimia or assisted bulimia patients of an age 22 or more. Weight loss stomach pump usage are expected to grow at a high rate owing to increase in a patient with more obesity problem and bypass gastric surgery. Weight loss stomach pump market is expected to grow at a significant CAGR due to their ability to lose the weight of the body with minimum invasiveness. Moreover, an increase in obesity and bulimia patients, fewer side effects, develop in life style habits, and increase in non-surgical treatment worldwide will also support the market growth. However, side effects associated with surgery are certain challenges which may hamper the market of weight loss stomach pump.

The weight loss stomach pump market has been segmented by disease type, by end-user, and by geography. In terms of disease type, the weight loss stomach pump market has been categorized into anorexia, bulimia, and diabetes. Unhealthy lifestyle is influencing in increasing obesity associated diseases among healthy habitat. Hence, weight loss stomach pump would play a major part in an effectively control over obesity. The end-users for the market include hospitals, nursing homes, clinics, and others. The weight loss stomach pump provider’s offer specialized programs to the end-users assisting in management of health plans by offering solutions to increasing costs of complexities during treatment.

Geographically, weight loss stomach pump market is segmented into two major regions: North America, and Europe. North America was observed to be the largest weight loss stomach pump market due to extensive technological advancements in the region. Countries such as the U.S. and Canada have been successful in implementing weight loss stomach pump in their healthcare system, which as a result would boost the market growth. Moreover, the presence of other developed healthcare infrastructure, promising government initiatives in executing weight loss stomach pump in the current healthcare infrastructure, and constantly improving reimbursement scenario would further propel the market growth. Europe was observed to be the second largest market in the weight loss stomach pump owing to enhanced weight loss therapy in the healthcare processes and implementation of stomach pump, a weight loss device in the region.

In June 2016, the U.S. Food and Drug Administration approved a new obesity treatment devices such as Aspire Assist System which is applicable on patients who are moderately overweight. The FDA reviewed results from a clinical trial of 111 patients treated with AspireAssist and appropriate lifestyle therapy. In August 2015, the ORBERA Intragastric Balloon System is a weight-loss system, which uses a gastric balloon that occupies space in the stomach to help patients lose weight. Patients with ORBERA lost an average of 21.8 pounds (10.2% of their body weight) after the device had been in place for six months. The major players operating in this market include Apollo Endosurgery, Inc.( ORBERA® balloon), Aspire Bariatrics, Inc.( AspireAssist System), among other significant players worldwide.

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The report offers a comprehensive evaluation of the market. It does so via in-depth insights, understanding market evolution by tracking historical developments, and analyzing the present scenario and future projections based on optimistic and likely scenarios. Each research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology developments, types, applications, and the competitive landscape. 

Global Homeopathy Products Market - Increasing Awareness about Herbal Medicines Drives Growth Across the Globe

Homeopathy is alternative medicine, which was established in Germany in the later part of the 18th century. It is based on the idea of ‘Law of Similars’. According to this principle, if a matter can produce symptoms in a healthy individual, it can treat similar symptoms in a sick individual. Homeopathic medicines are composed of natural substances in extremely diluted amounts for the treatment of a number of ailments. These medicines are prepared by repeatedly diluting and vigorous shaking of the original substance preparation in water and alcohol. Post dilution, the medicine is added to pillules or lactose tablets.

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The global homeopathic products market is on the rise due to the increasing demand for homeopathy for the treatment of several diseases. According to the World Health Organization, homeopathy is the second largest medicine system displaying a growth rate of 20-25% each year. This is because homeopathy has reportedly proven to be effective for the treatment of several acute and chronic diseases. Though there is a lack of understanding of working of homeopathic medicines, these medicines are believed to be active and are curative.

The increasing participation of several new players is also leading to the growth of the global homeopathy products market. These players are focused on the utilization of new technologies for the development of more effective products.

North America is the largest regional market for homeopathy products due to several factors. These include increasing preference of individuals for natural and holistic medicine and favorable reimbursement policies for the same. Europe is the second-largest market for homeopathy products. In the U.K., homeopathy is fully recognized as a curative medical practice and is covered by public health insurance. Asia Pacific is emerging as a significant market for homeopathy products due to the rapid advancement of the healthcare industry in emerging economies and the revival of alternative medicine for fewer side-effects. According to a study carried out by the Associated Chambers of Commerce and Industry of India in 2011, the domestic homeopathy market is expected to reach new heights in the coming years.

Some of the leading players in the global homeopathy products market are Hahnemann Laboratories Inc., Natural Health Supply, SBL, Hyland’s Homeopathic, and Nelson & Co. Ltd.

Remote Breathalyzer Market Increasing Alcohol & Drug Abuse Cases Boosted Growth; Global industry Analysis & Forecast upto 2024

From the public safety point of view, it is very important to keep drunk drivers off the roads. As per the data by the Center for Disease Control and Prevention (CDC), in the U.S. alone, approximately 10,000 people die each year in driving crashes due to driving while drunk. A breathalyzer is a device for estimating blood alcohol concentration/content (BAC) from a breath sample. In most of the countries, alcohol intoxication is legally demarcated by the blood alcohol concentration (BAC) level and a driver is prohibited from driving when their blood alcohol concentration (BAC) is .08 grams per deciliter (g/dL) or higher. Withdrawing blood or urine sample at the site and examining it later is not feasible and practical and hence the possibility of estimating BAC indirectly by assessing the amount of alcohol in one's breath poses good market opportunity for these devices. 

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Remote breathalyzer is a portable electrochemical fuel cell-based instruments used for preliminary breath test (PBT) or preliminary alcohol screening (PAS) which is performed in the field. These devices works on the principle of a chemical reaction between sulfuric acid, potassium dichromate, silver nitrate and water. Alcohol present in the air is absorbed by the sulfuring acid and the solution color changes from reddish orange dichromate ions to green chromium ions. The reaction is catalyzed by the presence of silver nitrate and the degree of the color change is used to quantify the amount of alcohol in the exhaled air. The standard mixture (unreacted) in the photocell system is compared with the reaction mixture to compute the BAC.

On the basis of technology, remote breathalyzers can be classified into three categories: fuel cell testers, semiconductor oxide-based testers, and spectrophotometer testers.  Fuel cell-based breathalyzers are more sensitive and are classified as professional level testers.  They are also portable and give an extremely accurate reading. Fuel cell testers define intoxication levels through the alcohol oxidation in breath samples. The device enables a chemical reaction with alcohol to generate an electric current. The current produced is proportional to amount of alcohol in the blood and used as a measure to scale a persons’ BAC. Spectrophotometer testers are not portable and use infrared light for alcohol detection. Semiconductor oxide-based testers are relatively new to the market and use alcohol-based sensors to estimate alcohol level in blood. However, semiconductor oxide-based testers are not very accurate and are categorized as personal model. The growth of the global remote breathalyzer is mainly driven by increasing alcohol and drug abuse cases and stringent government laws and regulations. Moreover, growing popularity and demand for personal breathalyzers and development of cost-effective alcohol breathalyzers in emerging markets is expected to witness rapid surge in the demand during the forecast period.

The global breathalyzers market has been segmented on the basis of end users into security agencies, hospitals, home care facilities, and rehabilitation centers. Security agencies are the largest end-users of breathalyzers. However, growing personal use of breathalyzers is expected to increase during the forecast period from 2016 to 2024. Geographically, the global remote breathalyzer market can be segmented into five key regions, namely, North America, Europe, Asia Pacific, the Middle East and Africa and Latin America. In past, North America has dominated the market due to enactment and implementation of stringent laws by the government in the region. However, developing nations in Asia Pacific are expected to witness the fastest growth during the forecast period. Growing awareness for drug testing coupled with government initiatives, increased public awareness and reduction in cost are the major drivers for the market growth in these geographies. The major restraint for the market can be violation privacy rights in some countries. High pricing and less opportunities for new market players in developed regions can also be the restraints for the market during the forecast period.

Key players in the market include Alcohol Monitoring Systems, Inc., Alere, Inc., Andatech Private Limited, BACtrack, Drägerwerk AG, Intoximeters, Inc., Lion Laboratories Limited, Lifeloc Technologies, Quest Diagnostics, Soberlink Healthcare LLC.

Global Image Guided Surgery Devices Market to Log 6.40% CAGR 2014-2022 due to Increasing Demand For Enhanced Healthcare Facilities

A new Transparency Market Research report states that the global image guided surgery devices market, which was pegged at US$2.76 bn in 2013, is predicted to reach US$4.80 bn in 2022, expanding at a CAGR of 6.40% from 2014 to 2022. The title of the report is “Image Guided Surgery Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2022.”

Image guided surgery is a term utilized for any type of surgical procedure wherein the surgeon utilizes tracked surgical instruments coupled with intraoperative and preoperative images for indirect guidance for the procedure. Image guided surgery systems utilize electromagnetic fields or cameras for capturing and relaying images of the anatomy of patients. Image guided surgery is used in a wide range of applications and is particularly utilized in surgery of the sinuses, where it aids in avoiding damage to the nervous system and the brain of the patient.

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As per the report, the increasing demand for enhanced healthcare facilities and the rising healthcare expenditure globally are amongst the chief factors fuelling the market for image guided surgery devices. In addition, the rising popularity of IGS devices and the increasing initiatives taken by governments globally will also have a positive impact on the growth of the market. Furthermore, the developing markets hold a significant potential for the image guided surgery devices, hence propelling market development. The increasing count of partnerships and collaborations is a key trend seen in the market. On the other hand, the absence of skilled professionals and the soaring cost of installation of image guided surgery devices are amongst the major factors inhibiting the development of the market. In addition, the stringent regulatory needs and the lack of health insurance in emerging countries will also pose a negative impact on the growth of the market.

On the basis of device type, the report segments the market into ultrasound, computed tomography (CT) scanners, magnetic resonance imaging (MRI) machine, x-ray fluoroscopy machine, endoscope, single photon emission computed tomography (SPECT) equipment, and positron emission tomography (PET) machine. Amongst these, computed tomography (CT) scanners have the highest demand owing to the increasing applications of CT scanners in tumor detection and imaging of soft tissue structures. In addition¸ the turnaround time of these scanners is less, which is advantageous in critical and complicated surgeries. This segment stood at US$770 mn in 2013.

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In terms of application, the report segments the market into orthopedic surgery, neurosurgery, oncology surgery, ear, nose, and throat surgery, and others. Amongst these, the segment of neurosurgery held the largest share in the market in 2013. The increasing accuracy of operating procedures is a key factor fuelling the growth of the neurosurgery segment. On the other hand, the demand for orthopedic image guided surgeries is also predicted to rise owing to the increasing aging population and the increasing occurrence of road accidents globally.

On the basis of geography, the report segments the market into Europe, North America, Latin America, Asia Pacific, the Middle East, and Rest of the World (RoW). Amongst these, North America led the market in 2013 and was trailed by Europe. The reasons for the superiority of both these regions include the increasing adoption rate of new technologies, the increasing healthcare expenditure, and the availability of trained healthcare professionals in these regions.

As per the report, the chief players dominant in the market are Toshiba Corporation, Siemens Healthcare, Koninklijke Philips N.V., St. Jude Medical, Inc., General Electric Company, Medtronic plc, Brainlab AG, and Varian Medical Systems, Inc., among others.