According to a research report “IoT Technology Market with COVID-19 Impact Analysis, by Node Component (Sensor, Memory Device, Connectivity IC), Solution (Remote Monitoring, Data Management), Platform, Service, End-use Application, Geography – Global Forecast to 2027”, published by MarketsandMarkets™, the IoT technology market is expected to grow from USD 384.5 billion in 2021 to USD 566.4 billion by 2027, at a CAGR of 6.7%. The market growth can be attributed to several factors, such as emergence of 5G communications technology, increasing necessity of data centers due to rising adoption of cloud platforms, growing use of wireless smart sensors and networks, and increased IP address space and better security solutions made available through IPv6.
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Remote monitoring segment to grow with the highest CAGR during the forecast period
The remote monitoring segment is expected to register the highest growth rate during the forecast period. Remote monitoring involves collecting data from assets and using these data to trigger automatic alerts and actions, such as remote diagnostics, maintenance requests, and other operational processes. By using IoT, assets located anywhere can be monitored. There are some benefits that manual monitoring or traditional monitoring systems using older connections (such as serial or POTS) cannot offer. Thats where IoT monitoring systems come in. The key advantages of these systems are less costs, data collection, enhanced efficiency of monitoring processes, and proactive maintenance.
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Network management platform segment to hold the largest share of the market during the forecast period
IoT network management enables functionalities such as authenticating, provisioning, configuring, monitoring, routing, and device software management (e.g., firmware update, bug fix, and so forth). These functionalities help to maintain good network performance and are generally provided in an IoT environment as a network service. A solid network management solution is device-agnostic and offers a simple way to incorporate cross-vendor hardware models and data structures into the IoT workflow.
North America is leading the IoT technology market in 2020
North America held the largest share in the IoT technology market in 2020. Increasing penetration of the internet in technologically advancing economies and growing adoption of wireless sensors and networks across major end-use applications such as healthcare, retail, consumer electronics, industrial, and automotive and transportation have resulted in the growth of the global IoT technology market. North America held the largest volume share in 2020. An established IT ecosystem and early adoption of various IoT-enabled products across multiple end-use applications are the most prominent factors behind the growth of the market this region.
Some of the key companies operating in the market are Intel Corporation (US), Qualcomm Technologies (US), Texas Instruments Incorporated (US), STMicroelectronics (Switzerland), IBM (US), Hewlett Packard Enterprise (US), Cisco Systems (US), Microsoft Corporation (US), PTC (US), and Amazon Web Services (AWS) (US), and so on.
IoT Chip Market with COVID-19 Impact Analysis by Hardware (Processor, Connectivity IC, Sensor, Memory Device and Logic Device), Power Consumption, End-use Application (Wearable Devices, Consumer Electronics, Building Automation and Retail) and Region – Global Forecast to 2025
IoT Node and Gateway Market with Covid-19 Impact Analysis, by Hardware (Processor, Connectivity IC, Sensor, Memory Device, and Logic Device), End-use Application (Industrial and Consumer), Geography – Global Forecast to 2027
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More than 2 million daily readers can now access the latest news, trends and changes that impact the business and practice of law through advanced audio stories
NEW YORK – LexisNexis® Legal & Professional, a leading global provider of information and analytics, today announced the launch of Law360’s new generation of audio articles to keep legal professionals informed. Using advanced text-to-speech technology, the company’s first-to-market pursuit to turn written articles into audio stories for busy legal professionals means subscribers can now listen to written Law360 articles on the go.
“Our customers want to stay informed, but they are also extremely time-constrained and can’t always stay up to date on the latest news and developments. This new feature opens up a whole new level of productivity for our customers, who can now get up to speed on the latest news on their morning commute or while exercising,” said Rachel Travers, General Manager of Law360.
The audio enhancement also brings the award-winning company closer to its commitment to accessibility and usability.
“Great commercial success is better with inclusivity,” said Travers. “Law360 is the industry’s most preferred and most read legal news source, and we have millions of newsletters being read every day. We have great reach, but we want inclusive reach, and this gives us an avenue to ensure an engaging, collective experience that can be shared by all.”
Law360’s audio stories are available now to all Law360 subscribers at no additional cost. For more information, please visit www.law360.com.
About LexisNexis Legal & Professional
LexisNexis Legal & Professional® is a leading global provider of legal, regulatory and business information and analytics that helps customers increase productivity, improve decision-making and outcomes, and advance the rule of law around the world. As a digital pioneer, the company was the first to bring legal and business information online with its Lexis® and Nexis® services. LexisNexis Legal & Professional, which serves customers in more than 160 countries with 10,400 employees worldwide, is part of RELX, a global provider of information-based analytics and decision tools for professional and business customers.
Law360, a LexisNexis company, is a one-stop source for legal news and in-depth analysis, with up-to-the-minute coverage of litigation, regulation and enforcement, legislation, executive orders, administrative hearings, corporate deal-making, and more across dozens of practice areas, industries, and jurisdictions. With a unique blend of cutting-edge technology and journalistic expertise, Law360 delivers the intelligence legal and business professionals need to remain experts and get ahead of the curve. Visit www.law360.com to find out what more than 2 million readers at top law firms, Fortune 1000 companies, and key government agencies already know.
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Closd provides end-to-end legal project management capabilities for complex legal projects to transactional lawyers, in-house legal counsels and dealmakers.
Paris, December 2nd, 2021 – LexisNexis Legal & Professional announced today that it has acquired Closd, a top-tier provider of legal transaction management in Europe, founded in 2018. Terms of the transaction were not disclosed.
Closd operates a legal transaction management SaaS platform that makes the management of complex legal projects simpler, safer and faster. Its end-to-end legal project management solution includes automated workflow management, secure document sharing, data rooms, electronic closing, transaction bible generation and document archiving. The Company serves more than 42,000 users consisting of transactional lawyers, in-house legal counsels and dealmakers in Europe and beyond.
Closd will become part of LexisNexis Legal & Professional, an established global provider of legal, regulatory, and business information and analytics, that helps customers increase their productivity, improve decision-making and achieve better outcomes. The acquisition of Closd is part of a global strategy to develop an ecosystem of solutions to serve legal professionals with analytics, legal document management, and decision support tools.
Philippe Carillon, President of LexisNexis Continental Europe, Middle East, and Africa, said: “Closd has quickly become a top-tier provider of legal transaction management. Its technological edge in legal workflow management, data rooms and electronic signatures will be combined with our own strengths in advanced technologies and content to deliver products that enable our customers to work in more effective and efficient ways. This acquisition is in line with our organic growth driven strategy, supported by acquisitions of analytics and workflow automation solutions that are natural additions to our existing business.”
Closd co-founder and CEO, Grégoire Debit, said: “We are proud to join LexisNexis and to contribute to the group’s cutting-edge innovation strategy. Synergies between our entities and products are clear. This alliance with an established global provider of legal information and technology will boost our growth and the development of our solutions, and help our internationalization strategy, in a booming sector. We truly look forward to building the future of work for legal professionals with the LexisNexis team.”
About LexisNexis Legal & Professional
LexisNexis Legal & Professional is an established global provider of legal, regulatory and business information and analytics that help customers increase productivity, improve decision-making and outcomes, and advance the rule of law around the world. As a digital pioneer, the company was the first to bring legal and business information online with its Lexis® and Nexis® services. LexisNexis Legal & Professional, which serves customers in more than 160 countries with 10,400 employees worldwide, is part of RELX, a global provider of information-based analytics and decision tools for professional and business customers.
RELX is a global provider of information-based analytics and decision tools for professional and business customers. The Group serves customers in more than 180 countries and has offices in about 40 countries. It employs over 33,000 people, of whom almost half are in North America. The shares of RELX PLC, the parent company, are traded on the London, Amsterdam and New York Stock Exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RELX.
*Note: Current market capitalisation can be found at http://www.relx.com/investors
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