The telemedicine market is experiencing significant growth, projected to reach $451.4 billion by 2032, up from $84.3 billion in 2022, with a CAGR of 18.3%. This surge is driven by the demand for remote healthcare solutions, particularly post-COVID-19, enhancing patient access to medical care through virtual consultations. Key trends include improved video conferencing technology, increased use of wearable devices, and the expansion of telemedicine services across various medical specialties.
The factory automation market, valued at $161.2 billion, is projected to grow at a CAGR of 8.6% from 2024 to 2032, driven by the need for increased production efficiency and reduced labor costs. Key players like ABB and Siemens are innovating with advanced robotic systems to address labor shortages and enhance product quality, particularly in the Asia Pacific region, which is leading in industrial automation adoption. The rise of Industry 4.0 and the Industrial Internet of Things (IIoT) further accelerate this transformative shift in manufacturing processes.
Saxo Bank, based in Copenhagen and backed by Chinese auto group Geely, is closing its offices in Hong Kong and Shanghai while scaling back operations in Tokyo due to a sluggish Chinese economy. This strategic retreat will impact 10 staff members as the bank reassesses its presence in Asia.
UBS Asset Management maintains a neutral stance on various asset classes amid signs of slowing growth and inflation. While European high yield offers attractive yields, credit spreads are close to cyclical lows, limiting potential price rises. The firm favors the Japanese yen due to anticipated monetary policy tightening and prefers US Treasuries for their improved hedging capacity.
Seven Swiss institutions, including UBS, BCV, and BKB, are participating in the Agorá project, which aims to explore the integration of customer deposits and central bank money into a programmable financial platform. Launched by the Bank for International Settlements and seven central banks, the project seeks to enhance the monetary system through tokenization and smart contracts. The initiative, involving 41 private financial institutions globally, is set to run until 2025.
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