Artificial Intelligence
Blockchain-as-a-Service (BaaS) Market to Rise Substantially; Microsoft Partners with R3 to Develop Advanced Blockchain Technologies Using Microsoft Azure: Fortune Business Insights™
Pune, India, March 01, 2021 (GLOBE NEWSWIRE) — The global blockchain-as-a-service market size is set to reach USD 24.94 billion by 2027, exhibiting an impressive CAGR of 39.5% during the forecast period. Multiple advantages of BaaS for small and medium enterprises (SMEs) will fuel the market growth, states Fortune Business Insights™ in its recent report, titled “Blockchain-as-a-Service (BaaS) Market Size, Share & Industry Analysis, By Component (Tool and Service), By Application (Smart Contracts, Supply Chain Management, Payments, Governance, Risk, and Compliance Management and Others (Identity Management)), By Industry (BFSI, Energy & Utilities, Government, Healthcare and Life Sciences, Manufacturing, Telecom, Media & Entertainment, Retail & Consumer Goods, Travel and Transportation and Others (Education etc.)), and Regional Forecast, 2020-2027“.
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
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Blockchain technology is emerging as an optimal solution to many of the challenges faced by SMEs such as access to trade financing, bank loans, and cash flow difficulties, among other issues. SMEs looking to expand their businesses in foreign lands can gain wider access to trade financing sources using BaaS as this technology is decentralized and cuts out middlemen from the process. The World Economic Forum (WEF) opines that blockchain technology could be instrumental in bridging the gap in trade financing around the world. Similar benefits can be reaped by SMEs in the context of supply chain processes. Thus, these potential advantages of blockchain for SMEs will provide a significant boost to the BaaS market growth in the coming years.
According to the blockchain-as-a-service market report, the value of this market stood at USD 1.90 billion in 2019. The report further provides the following information:
- Detailed segmentation of the market and piece-meal study of each segment;
- Comprehensive analysis of the regional developments occurring in the market;
- In-depth research into the market drivers, trends, and challenges; and
- Exhaustive assessment of the competitive landscape of the market.
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Market Restraint
Heightened Vulnerability to Cyber Threats to Hamper Market Growth
The safety quotient of financial transactions has gotten considerably elevated since the advent of blockchain technology. Given its complex architecture, hacking into a blockchain-based system requires sophisticated computer skills and tools. Nonetheless, analysis by NASDAQ, one of the three stock indexes in the US, reveals that this technology is not bereft of vulnerabilities, originating primarily from the endpoints that use wallets to initiate transactions. These wallets become easy targets for hackers. For instance, a crypocurrency exchange platform, Ethereum Classic, was hacked in 2019, with the hacker rewriting the transaction history of the platform and stealing millions. During the same year, hackers stole around $40 million in Bitcoin transactions, exploiting the susceptibility of the same endpoint issue stated earlier. Thus, the constantly looming threat of cyber-attacks may prohibit the blockchain-as-a-service market growth during the forecast period.
Regional Analysis
Increasing Investment in Blockchain Technology to Drive the Market in North America
In 2019, the market size in North America stood at USD 1.01 billion owing to the vast number of blockchain development projects being undertaken in the US. One of the major reasons for the widespread development and adoption of BaaS tools in North America is the strong presence of small, medium, and large tech companies operating in the US. This, along with rising integration of BaaS solutions with public utilities services, will enable the region to dominate the blockchain-as-a-service market share in the foreseeable future.
In Asia-Pacific, the market will be mainly driven by the rising investment in blockchain technology by the Chinese government and advancements in complex computer technologies in Japan and South Korea. The BaaS market report states that Asia-Pacific will register the highest CAGR during the forecast period. In Europe, increasing focus of well-established players on blockchain technology will propel the market in the near future.
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Competitive Landscape
Collaborations between Financial Institutions and Tech Companies to Intensify Competition
As per the blockchain-as-a-service market analysis, an increasing number of collaborations between financial bigwigs and tech giants are being witnessed in this market. These partnerships are playing a major role in broadening the application areas of BaaS tools and enhancing the potential of the market.
Industry Developments:
- May 2019: Microsoft and JP Morgan announced their partnership to further the advancement and adoption of enterprise blockchain. Under the partnership, JP Morgan’s distributed ledger platform Quorum will be made accessible via Microsoft’s Azure Blockchain Service to enable customers to build cloud-based blockchain networks.
- April 2018: Huawei unveiled its novel BaaS solution, called Blockchain Service, based on Linux Foundation’s Hyperledge Fabric 1.0. The solution is devised to aid companies design smart contracts focusing on supply chain, securitized assets, and public services, on top of a distributed ledger network.
List of Key Companies Operating in the Blockchain-as-a-Service (BaaS) Market are:
- Huawei Service (Hong Kong) Co., Limited
- Stratis Group Ltd.
- NTT Data Corporation
- Baidu, Inc.
- Oracle Corporation
- Microsoft Corporation
- VMware, Inc.
- Infosys Limited
- Accenture Plc
- SAP SE
- Alibaba Group
- IBM Corporation
Quick Buy – Blockchain as a service Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/102721
Detailed Table of Content
- Introduction
- Definition, By Segment
- Research Approach
- Sources
- Executive Summary
- Market Dynamics
- Drivers, Restraints and Opportunities
- Emerging Trends
- Key Insights
- Macro and Micro Economic Indicators
- Consolidated SWOT Analysis of Key Players
- Global Blockchain-as-a-Service Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Sizing Estimations and Forecasts – By Component
- Tools
- Service
- Market Size Estimates and Forecasts – By Application
- Smart Contracts
- Supply Chain Management
- Payments
- Governance, Risk, and Compliance Management
- Others (Identity Management, etc.)
- Market Size Estimates and Forecasts – By Industry
- BFSI
- Energy & Utilities
- Government
- Healthcare and Life Sciences
- Manufacturing
- Telecom, Media & Entertainment
- Retail & Consumer Goods
- Travel and Transportation
- Others (Education etc,)
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia-Pacific (APAC)
- Middle East & Africa (MEA)
- Latin America (LATAM)
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Artificial Intelligence
Signant Health extends eCOA leadership position through operational innovations that reduce timelines by at least one-third
PHILADELPHIA, May 8, 2024 /PRNewswire/ — Signant Health, the leader in evidence generation for modern clinical trials, announced today that it has substantially reduced implementation timelines for its flagship eCOA solution, TrialMax®. By leveraging process and technology enhancements, Signant’s operational teams can reduce the time it takes to go live with electronic patient-reported outcomes solutions by thirty percent or more.
Sponsors and Contract Research Organizations (CROs) have relied on Signant’s eCOA solution for over 20 years. The solution is known for its flexibility, reliability, scientific support, global logistics support, and ability to scale to any size trial, anywhere in the world. Traditionally, the time to bring the system live for patients and sites was commensurate with the operational complexity and trial design.
According to the company, customers can now benefit from this highly customizable eCOA solution along with Signant’s leading levels of science, scale, and service – delivered under much faster timelines.
“We are excited to offer customers the best of both worlds,” said Sanjiv Waghmare, Signant’s chief product officer. “They can get the fully featured, market-leading eCOA solution they already use and love, at a much faster pace. We believe this is especially meaningful as trial designs continue to increase in complexity. We want to ensure our customers hit their FPFV dates and start collecting high quality data without worrying about if their eCOA solution will be available.”
According to Waghmare, Signant’s engineering and operational teams identified areas where process enhancements and automation could dramatically reduce common implementation steps regardless of trial complexity. These steps cover all aspects of a typical eCOA timeline including study build, testing, translations, scale management, and validation.
“This is just the beginning of our efforts to deliver complexity at speed, with outstanding quality,” continued Waghmare. “We are also bringing additional efficiencies to our processes that will accelerate post-implementation support, including reporting, analytics, and data change management.”
Signant also offers a tenured solution for eCOA studies as part of its Signant SmartSignals® Unified Platform, which is fully integrated with EDC, RTSM, eConsent, and telemedicine. For more information about all Signant’s eClinical solutions, go to www.signanthealth.com.
About Signant Health
Signant Health is the evidence generation company. We are focused on leveraging software, deep therapeutic and scientific knowledge, and operational expertise to consistently capture, aggregate, and reveal quality evidence for clinical studies across traditional, virtual, and hybrid trial models. For more than 25 years, over 600 sponsors and CROs of all sizes – including all Top 20 pharma – have trusted Signant solutions for remote and site-based eCOA, EDC, eConsent, RTSM, supply chain management, and data quality analytics. Learn more at www.signanthealth.com.
Contact:
Heather [email protected]+1 610.400.4141
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Artificial Intelligence
Ness Digital Engineering Acquires Intricity – a New York based company specializing in data strategy, governance, modernization, and monetization
NEW YORK, May 8, 2024 /PRNewswire/ — Ness Digital Engineering (Ness), a global full-lifecycle digital services transformation company, has acquired Intricity, a leading provider of data strategy, governance, modernization, and monetization solutions. The acquisition deepens Ness’s data offerings, which global F1000 clients have utilized to create new revenue streams and improve operating efficiencies.
“Ness has always had a strong capability in data engineering, and the acquisition of Intricity brings the data strategy and advisory capability. Furthermore, Ness will build on Intricity’s strategic alliances with Snowflake and Databricks,” said Ranjit Tinaikar, CEO, Ness Digital Engineering. “We are excited to welcome Intricity’s talented team to Ness, combining our strengths to deliver even greater value to our clients.”
Intricity brings deep expertise in handling complex data modernization and monetization problems that are the heart of any digital transformation today.
“Joining Ness, backed by KKR, presents an exciting opportunity to accelerate our growth trajectory worldwide. We are excited to leverage Ness’s global presence, digital competencies, and deep industry expertise to deliver digital transformation solutions to a wider range of clients,” said Arkady Kleyner, Principal & Co-Founder, Intricity. “Together, we are well-positioned to drive meaningful business outcomes and accelerate innovation for our clients.”
Commenting on the acquisition, Troy Clemente, Principal & Co-Founder, Intricity, added, “We have successfully established ourselves as experts covering the entire information lifecycle, and by joining Ness, we can accelerate our combined clients’ AI journeys based on modern data infrastructures.”
Zinnov acted as financial advisor to Ness Digital Engineering.
For more information:Tanaya Misra, Global Head – PR & [email protected]
About Ness Digital Engineering
Ness Digital Engineering, which funds managed by global investment firm KKR acquired in 2022, is a full-lifecycle digital engineering firm offering digital advisory through scaled engineering services. Headquartered in New York, Ness serves our customers across 11 innovation hubs in the US, Eastern Europe, and India. Combining our core competence in engineering with the latest in digital strategy and technology, we seamlessly manage Digital Transformation journeys from strategy through execution to help businesses thrive in the digital economy. For more information, visit www.ness.com.
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Artificial Intelligence
Körber Pharma and Siemens Take the Lead in ABI Research’s MES Software for Pharmaceutical, Biotechnology, and Cell & Gene Manufacturing Competitive Ranking
LONDON, May 8, 2024 /PRNewswire/ — The new Competitive Assessment by global technology intelligence firm ABI Research provides an in-depth and unbiased examination of the solutions offered by 13 manufacturing execution system (MES) software suppliers targeting pharmaceutical, biotech, and cell & gene manufacturing. The companies evaluated and ranked are:
Market Leaders: Körber Pharma, Siemens, Apprentice, Rockwell Automation, and TulipMainstream: Dassault Systèmes, GE Digital, Honeywell, Emerson, MPDV, MasterControl, ParsecFollowers: Sepasoft
“Overall, the MES software market for pharmaceutical, biotechnology, and cell & gene manufacturing is highly competitive, and the top innovators offer very comparable solutions. Technology vendors are aggressively developing new functionality, and competitors must closely watch and identify areas where they can match or leapfrog software capabilities,” explains James Prestwood, Industrial & Manufacturing Industry Analyst at ABI Research.
A total of ten overarching criteria were chosen for the purposes of this analysis and segmented across innovation and implementation clusters. These include how comprehensive the solution is and what innovative functionality it offers, data visibility, accessibility, and security within the platform, the user experience, and the capacity of worker augmentation, the MES’s contribution to manufacturers digital thread capabilities, and the alignment of the MES software with the pharmaceutical, biotechnology, and cell & gene manufacturing markets. In addition, the report evaluates MES vendor’s ability to deliver rapid time to value, their experience in delivering the software to manufacturers, the extensiveness of the vendor’s partnership base, the support for SME manufacturers, and the comprehensiveness of the software’s pricing options.
Körber Pharma and Siemens came out on top in the competitor ranking, with both firms scoring well across all criteria. Apprentice ranked as the top innovator in the assessment, offering a wide range of strong functionality designed specifically for life sciences manufacturing, an excellent cloud-native design, and comprehensive low/no-code capabilities. Dassault Systèmes scored particularly well in the implementation criteria, ranking second, with its center-of-excellence deployment model allowing manufacturers to quickly and consistently deploy and scale DELMIA Apriso.
“Pharmaceutical, biotech, and cell & gene manufacturing have been slow to embrace digital transformation but are now catching up. The industry’s strict regulations mean new solutions must be proven, and a premium should be placed on extensive deployment experiences when choosing solutions and technology partners,” Prestwood concludes.
These findings are from ABI Research’s MES Software for Pharmaceutical, Biotech, and Cell & Gene Therapy Manufacturing Competitive Ranking report. This report is part of the company’s Industrial and Manufacturing Markets research service, which includes research, data, and ABI Insights. Based on extensive primary interviews, Competitive Ranking reports offer comprehensive analysis of implementation and innovation strategies to offer unparalleled insight into a company’s performance and standing compared to its competitors.
About ABI Research
ABI Research is a global technology intelligence firm uniquely positioned at the intersection of technology solution providers and end-market companies. We serve as the bridge that seamlessly connects these two segments by providing exclusive research and expert guidance to drive successful technology implementations and deliver strategies proven to attract and retain customers.
ABI Research是一家全球性的技术情报公司,拥有得天独厚的优势,充当终端市场公司和技术解决方案提供商之间的桥梁,通过提供独家研究和专业性指导,推动成功的技术实施和提供经证明可吸引和留住客户的战略,无缝连接这两大主体。
For more information about ABI Research’s services, contact us at +1.516.624.2500 in the Americas, +44.203.326.0140 in Europe, +65.6592.0290 in Asia-Pacific, or visit www.abiresearch.com.
Contact Info:
GlobalDeborah Petrara Tel: +1.516.624.2558 [email protected]
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