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Altair Announces Second Quarter 2021 Financial Results

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TROY, Mich., Aug. 05, 2021 (GLOBE NEWSWIRE) —  Altair (Nasdaq: ALTR), a global technology company providing software and cloud solutions in the areas of simulation, high-performance computing, data analytics and artificial intelligence today released its financial results for the second quarter ended June 30, 2021.

“Altair had a strong second quarter 2021, with across-the-board success in multiple verticals, regions, and products, reflecting year on year software product revenue growth of 22%,” said James Scapa, Founder, Chairman and Chief Executive Officer of Altair. “Customers are investing to grow their businesses as we emerge from the pandemic, and Altair’s products, services, and business models are clearly resonating, gaining market awareness, and increasing market share.”

“Once again we saw customer demand exceed expectations in the second quarter 2021, which enabled us to achieve results above the high end of our guidance range for the third consecutive quarter,” said Matt Brown, Chief Financial Officer of Altair. “The second quarter 2021 reflects solid execution on our strategy of driving strong organic topline revenue growth and profit expansion.”

Second Quarter 2021 Financial Highlights

  • Software product revenue was $99.6 million compared to $81.8 million for the second quarter of 2020, an increase of 21.7%
  • Total revenue was $119.9 million compared to $98.6 million for the second quarter of 2020, an increase of 21.7%
  • Net loss was $13.6 million compared to a net loss of $10.2 million for the second quarter of 2020, an increase of 33.5%. Diluted net loss per share was $0.18 based on 75.3 million diluted weighted average common shares outstanding, compared to diluted net loss per share of $0.14 for the second quarter of 2020, based on 73.0 million diluted weighted average common shares outstanding
  • Adjusted EBITDA was $9.5 million compared to $5.7 million for the second quarter of 2020, an increase of 65.2%. Adjusted EBITDA margin was 7.9% compared to 5.8% for the second quarter of 2020
  • Non-GAAP net income was $5.6 million, compared to Non-GAAP net income of $3.0 million for the second quarter of 2020, an increase of 86.8%. Non-GAAP diluted net income per share was $0.07 based on 83.4 million non-GAAP diluted common shares outstanding, compared to Non-GAAP diluted net income per share of $0.04 for the second quarter of 2020, based on 80.7 million non-GAAP diluted common shares outstanding
  • Free cash flow was $15.8 million, compared to $4.5 million for the second quarter of 2020, an increase of 252.7%

Business Outlook

Based on information available as of today, Altair is issuing the following guidance for the third quarter and full year 2021:  

(in millions) Third Quarter 2021   Full Year 2021  
Software Product Revenue   $ 94.0   to $ 97.0     $ 434.0   to $ 440.0  
Total Revenue   $ 112.0     $ 115.0     $ 512.0     $ 518.0  
Net Loss   $ (22.8 )   $ (20.9 )   $ (31.6 )   $ (26.8 )
Non-GAAP Net Income   $ 0.1     $ 1.6     $ 40.9     $ 44.6  
Adjusted EBITDA   $ 2.0     $ 4.0     $ 63.0     $ 68.0  
Net Cash Provided by Operating Activities                   $ 43.0     $ 48.0  
Free Cash Flow                   $ 34.0     $ 39.0  

Conference Call Information

What: Altair’s Second Quarter 2021 Financial Results Conference Call
   
When: Thursday, August 5, 2021
   
Time: 5:00 p.m. ET
   
Live Call: (866) 754-5204, Domestic
  (636) 812-6621, International
   
Replay: (855) 859-2056, Conference ID 4173813, Domestic
  (404) 537-3406, Conference ID 4173813, International
   
Webcast: http://investor.altair.com   (live & replay)

Non-GAAP Financial Measures

This press release contains the following non-GAAP financial measures: Adjusted EBITDA, Non-GAAP Net Income, Non-GAAP Net Income Per Share and Free Cash Flow.

Altair believes that these non-GAAP measures of financial results provide useful information to management and investors regarding certain financial and business trends relating to its financial condition and results of operations. The Company’s management uses these non-GAAP measures to compare the Company’s performance to that of prior periods for trend analysis, for purposes of determining executive and senior management incentive compensation and for budgeting and planning purposes. The Company also believes that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends and in comparing the Company’s financial measures with other software companies, many of which present similar non-GAAP financial measures to investors.

Adjusted EBITDA represents net income adjusted for income tax expense, interest expense, interest income and other, depreciation and amortization, stock-based compensation expense, restructuring charges, asset impairment charges and other special items as identified by management and described elsewhere in this press release.

Non-GAAP net income excludes stock-based compensation, amortization of intangible assets related to acquisitions, restructuring charges, asset impairment charges, non-cash interest expense, other special items as identified by management and described elsewhere in this press release, and the impact of non-GAAP tax rate to income tax expense, which approximates our tax rate excluding discrete items and other specific events that can fluctuate from period to period.

Non-GAAP diluted common shares includes total outstanding shares plus outstanding equity awards under the Company’s equity award plans.

Free cash flow consists of cash flow from operations less capital expenditures.

Company management does not consider these non-GAAP measures in isolation or as an alternative to financial measures determined in accordance with GAAP. The principal limitation of these non-GAAP financial measures is that they exclude significant expenses and income that are required by GAAP to be recorded in the Company’s financial statements. In addition, they are subject to inherent limitations as they reflect the exercise of judgment by management about which expenses and income are excluded or included in determining these non-GAAP financial measures. Altair urges investors to review the reconciliation of its non-GAAP financial measures to the comparable GAAP financial measures, which it includes in press releases announcing quarterly financial results, including this press release, and not to rely on any single financial measure to evaluate the Company’s business.

Reconciliation tables of the most comparable GAAP financial measures to the non-GAAP financial measures used in this press release are included with the financial tables at the end of this release.

About Altair

Altair is a global technology company that provides software and cloud solutions in the areas of simulation, high-performance computing, and artificial intelligence. Altair enables organizations across broad industry segments to compete more effectively in a connected world while creating a more sustainable future. To learn more, please visit www.altair.com.

Cautionary Language Concerning Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, our guidance for the third quarter and full year 2021, our statements regarding our expectation for 2021, and our reconciliations of projected non-GAAP financial measures.   These forward-looking statements are made as of the date of this release and are based on current expectations, estimates, forecasts and projections as well as the beliefs and assumptions of management. Words such as “expect,” “anticipate,” “should,” “believe,” “hope,” “target,” “project,” “goals,” “estimate,” “potential,” “predict,” “may,” “will,” “might,” “could,” “intend,” variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond Altair’s control. Altair’s actual results could differ materially from those stated or implied in our forward-looking statements due to a number of factors, including but not limited to, the risks detailed in Altair’s quarterly and annual reports filed with the Securities and Exchange Commission as well as other documents that may be filed by the Company from time to time with the Securities and Exchange Commission. Past performance is not necessarily indicative of future results. The forward-looking statements included in this press release represent Altair’s views as of the date of this press release. The Company anticipates that subsequent events and developments will cause its views to change. Altair undertakes no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. These forward-looking statements should not be relied upon as representing Altair’s views as of any date subsequent to the date of this press release.

Media Relations
Altair
Dave Simon
248-614-2400 ext. 332
[email protected]

Investor Relations
The Blueshirt Group
Monica Gould
212-871-3927
[email protected]

Lindsay Savarese
212-331-8417
[email protected]

ALTAIR ENGINEERING INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS

    June 30, 2021     December 31, 2020  
(In thousands)   (Unaudited)          
ASSETS                
CURRENT ASSETS:                
Cash and cash equivalents   $ 260,098     $ 241,221  
Accounts receivable, net     91,570       117,878  
Income tax receivable     7,949       6,736  
Prepaid expenses and other current assets     23,030       21,100  
Total current assets     382,647       386,935  
Property and equipment, net     39,610       36,332  
Operating lease right of use assets     33,395       33,526  
Goodwill     262,963       264,481  
Other intangible assets, net     66,637       76,114  
Deferred tax assets     8,265       7,125  
Other long-term assets     26,699       25,389  
TOTAL ASSETS   $ 820,216     $ 829,902  
LIABILITIES, MEZZANINE EQUITY AND STOCKHOLDERS’ EQUITY  
CURRENT LIABILITIES:                
Current portion of long-term debt   $     $ 29,962  
Accounts payable     6,515       8,594  
Accrued compensation and benefits     35,846       34,772  
Current portion of operating lease liabilities     10,770       10,331  
Other accrued expenses and current liabilities     27,810       31,404  
Deferred revenue     81,343       85,691  
Convertible senior notes, net     193,926        
Total current liabilities     356,210       200,754  
Convertible senior notes, net           188,300  
Operating lease liabilities, net of current portion     23,785       24,323  
Deferred revenue, non-current     7,236       9,388  
Other long-term liabilities     32,856       27,767  
TOTAL LIABILITIES     420,087       450,532  
Commitments and contingencies                
MEZZANINE EQUITY     784       784  
STOCKHOLDERS’ EQUITY:                
Preferred stock ($0.0001 par value), authorized 45,000 shares, none issued and outstanding            
Common stock ($0.0001 par value)                
Class A common stock, authorized 513,797 shares, issued and outstanding 46,392
and 44,216 shares as of June 30, 2021, and December 31, 2020, respectively
    4       4  
Class B common stock, authorized 41,203 shares, issued and outstanding 29,091
and 30,111 shares as of June 30, 2021, and December 31, 2020, respectively
    3       3  
Additional paid-in capital     495,824       474,669  
Accumulated deficit     (92,581 )     (93,293 )
Accumulated other comprehensive loss     (3,905 )     (2,797 )
TOTAL STOCKHOLDERS’ EQUITY     399,345       378,586  
TOTAL LIABILITIES, MEZZANINE EQUITY AND STOCKHOLDERS’ EQUITY   $ 820,216     $ 829,902  

ALTAIR ENGINEERING INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)

    Three Months Ended
June 30,
    Six Months Ended
June 30,
 
(in thousands, except per share data)   2021     2020     2021     2020  
Revenue                                
License   $ 66,632     $ 51,018     $ 163,027     $ 128,561  
Maintenance and other services     32,926       30,815       66,072       61,715  
Total software     99,558       81,833       229,099       190,276  
Software related services     7,481       5,444       15,579       12,378  
Total software and related services     107,039       87,277       244,678       202,654  
Client engineering services     10,268       9,640       20,945       23,518  
Other     2,605       1,644       4,452       3,852  
Total revenue     119,912       98,561       270,075       230,024  
Cost of revenue                                
License     3,617       2,851       9,012       8,374  
Maintenance and other services     12,043       8,502       23,598       18,957  
Total software *     15,660       11,353       32,610       27,331  
Software related services     5,731       4,656       11,853       10,145  
Total software and related services     21,391       16,009       44,463       37,476  
Client engineering services     8,293       7,789       17,181       19,107  
Other     2,262       1,283       3,724       2,995  
Total cost of revenue     31,946       25,081       65,368       59,578  
Gross profit     87,966       73,480       204,707       170,446  
Operating expenses:                                
Research and development *     38,757       28,970       77,033       60,437  
Sales and marketing *     31,909       25,806       63,979       53,905  
General and administrative *     21,861       20,248       45,787       42,594  
Amortization of intangible assets     4,615       3,692       9,492       7,532  
Other operating income, net     (585 )     (944 )     (1,202 )     (1,835 )
Total operating expenses     96,557       77,772       195,089       162,633  
Operating (loss) income     (8,591 )     (4,292 )     9,618       7,813  
Interest expense     2,988       2,843       5,961       5,656  
Other expense (income), net     708       320       1,543       (1,070 )
(Loss) income before income taxes     (12,287 )     (7,455 )     2,114       3,227  
Income tax expense     1,361       2,768       1,402       7,420  
Net (loss) income   $ (13,648 )   $ (10,223 )   $ 712     $ (4,193 )
(Loss) income per share:                                
Net (loss) income per share attributable to common
stockholders, basic
  $ (0.18 )   $ (0.14 )   $ 0.01     $ (0.06 )
Net (loss) income per share attributable to common
stockholders, diluted
  $ (0.18 )   $ (0.14 )   $ 0.01     $ (0.06 )
Weighted average shares outstanding:                                
Weighted average number of shares used in computing
net (loss) income per share, basic
    75,263       72,999       74,959       72,811  
Weighted average number of shares used in computing
net (loss) income per share, diluted
    75,263       72,999       79,851       72,811  

*        Amounts include stock-based compensation expense as follows (in thousands):

    (Unaudited)  
    Three Months Ended
June 30,
    Six Months Ended
June 30,
 
    2021     2020     2021     2020  
Cost of revenue – software   $ 1,222     $ 552     $ 2,380     $ 918  
Research and development     4,143       1,830       7,329       3,258  
Sales and marketing     3,659       1,273       7,127       2,000  
General and administrative     1,624       879       3,460       1,529  
Total stock-based compensation expense   $ 10,648     $ 4,534     $ 20,296     $ 7,705  

ALTAIR ENGINEERING INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOW
(Unaudited)

    Six Months Ended June 30,  
(In thousands)   2021     2020  
OPERATING ACTIVITIES:                
Net income (loss)   $ 712     $ (4,193 )
Adjustments to reconcile net income (loss) to net cash provided by operating activities:                
Depreciation and amortization     13,180       11,293  
Provision for credit loss     205       589  
Amortization of debt discount and issuance costs     5,631       5,342  
Stock-based compensation expense     20,296       7,705  
Deferred income taxes     (1 )     (5,961 )
Other, net     34       3  
Changes in assets and liabilities:                
Accounts receivable     24,852       23,264  
Prepaid expenses and other current assets     (3,367 )     1,817  
Other long-term assets     (5,067 )     (960 )
Accounts payable     (967 )     (3,841 )
Accrued compensation and benefits     1,548       497  
Other accrued expenses and current liabilities     2,999       161  
Deferred revenue     (5,333 )     (2,315 )
Net cash provided by operating activities     54,722       33,401  
INVESTING ACTIVITIES:                
Capital expenditures     (5,391 )     (2,530 )
Payments for acquisition of developed technology     (344 )     (433 )
Payments for acquisition of businesses, net of cash acquired           (2,270 )
Other investing activities, net     (45 )     142  
Net cash used in investing activities     (5,780 )     (5,091 )
FINANCING ACTIVITIES:                
Payments on revolving commitment     (30,000 )      
Proceeds from the exercise of stock options     885       477  
Other financing activities     (206 )     (210 )
Net cash (used in) provided by financing activities     (29,321 )     267  
Effect of exchange rate changes on cash, cash equivalents and restricted cash     (847 )     (1,148 )
Net increase in cash, cash equivalents and restricted cash     18,774       27,429  
Cash, cash equivalents and restricted cash at beginning of year     241,547       223,497  
Cash, cash equivalents and restricted cash at end of period   $ 260,321     $ 250,926  
Supplemental disclosure of cash flow:                
Interest paid   $ 339     $ 306  
Income taxes paid   $ 3,744     $ 9,491  
Supplemental disclosure of non-cash investing and financing activities:                
Finance leases   $     $ 100  
Property and equipment in accounts payable, other current liabilities
and other liabilities
  $ 631     $ 343  

Financial Results

The following table provides a reconciliation of Non-GAAP net income and Non-GAAP net income per share – diluted, to net income and net income per share – diluted, the most comparable GAAP financial measures:

    (Unaudited)  
    Three Months Ended
June 30,
    Six Months Ended
June 30,
 
(in thousands, except per share amounts)   2021     2020     2021     2020  
Net (loss) income   $ (13,648 )   $ (10,223 )   $ 712     $ (4,193 )
Stock-based compensation expense     10,648       4,534       20,296       7,705  
Amortization of intangible assets     4,615       3,692       9,492       7,532  
Non-cash interest expense     2,837       2,689       5,637       5,337  
Restructuring expense     1,732             5,078        
Special adjustments and other           578             578  
Impact of non-GAAP tax rate     (601 )     1,718       (9,678 )     1,081  
Non-GAAP net income   $ 5,583     $ 2,988     $ 31,537     $ 18,040  
                                 
Net (loss) income per share – diluted   $ (0.18 )   $ (0.14 )   $ 0.01     $ (0.06 )
Non-GAAP net income per share – diluted   $ 0.07     $ 0.04     $ 0.38     $ 0.22  
                                 
GAAP diluted shares outstanding:     75,263       72,999       79,851       72,811  
Non-GAAP diluted shares outstanding:     83,400       80,700       83,400       80,700  

The following table provides a reconciliation of Adjusted EBITDA to net income, the most comparable GAAP financial measure:

    (Unaudited)  
    Three Months Ended
June 30,
    Six Months Ended
June 30,
 
(in thousands)   2021     2020     2021     2020  
Net (loss) income   $ (13,648 )   $ (10,223 )   $ 712     $ (4,193 )
Income tax expense     1,361       2,768       1,402       7,420  
Stock-based compensation expense     10,648       4,534       20,296       7,705  
Interest expense     2,988       2,843       5,961       5,656  
Depreciation and amortization     6,494       5,633       13,180       11,293  
Restructuring expense     1,732             5,078        
Special adjustments, interest income and other     (79 )     194       (173 )     (460 )
Adjusted EBITDA   $ 9,496     $ 5,749     $ 46,456     $ 27,421  

The following table provides a reconciliation of Free Cash Flow to net cash provided by operating activities, the most comparable GAAP financial measure:

    (Unaudited)  
    Three Months Ended
June 30,
    Six Months Ended
June 30,
 
(in thousands)   2021     2020     2021     2020  
Net cash provided by operating activities   $ 18,151     $ 5,365     $ 54,722     $ 33,401  
Capital expenditures     (2,352 )     (886 )     (5,391 )     (2,530 )
Free cash flow   $ 15,799     $ 4,479     $ 49,331     $ 30,871  

Business Outlook

The following table provides a reconciliation of projected Non-GAAP net income to projected net loss, the most comparable GAAP financial measure:

    (Unaudited)  
    Three Months Ending
September 30, 2021
    Year Ending
December 31, 2021
 
(in thousands)   Low     High     Low     High  
Net loss   $ (22,800 )   $ (20,900 )   $ (31,600 )   $ (26,800 )
Stock-based compensation expense     11,700       11,700       43,700       43,700  
Amortization of intangible assets     4,500       4,500       17,600       17,600  
Non-cash interest expense     2,900       2,900       11,400       11,400  
Restructuring expense     500       500       5,600       5,600  
Impact of non-GAAP tax rate     3,300       2,900       (5,800 )     (6,900 )
Non-GAAP net income   $ 100     $ 1,600     $ 40,900     $ 44,600  

The following table provides a reconciliation of projected Adjusted EBITDA to projected net loss, the most comparable GAAP financial measure:

    (Unaudited)  
    Three Months Ending
September 30, 2021
    Year Ending
December 31, 2021
 
(in thousands)   Low     High     Low     High  
Net loss   $ (22,800 )   $ (20,900 )   $ (31,600 )   $ (26,800 )
Income tax expense     3,300       3,400       8,600       8,800  
Stock-based compensation expense     11,700       11,700       43,700       43,700  
Interest expense     3,000       3,000       12,000       12,000  
Depreciation and amortization     6,400       6,400       25,000       25,000  
Restructuring expense     500       500       5,600       5,600  
Special adjustments, interest income and other     (100 )     (100 )     (300 )     (300 )
Adjusted EBITDA   $ 2,000     $ 4,000     $ 63,000     $ 68,000  

The following table provides a reconciliation of projected Free Cash Flow to projected net cash provided by operating activities, the most comparable GAAP financial measure:

            (Unaudited)  
        Year Ending
December 31, 2021
 
(in thousands)           Low     High  
Net cash provided by operating activities           $ 43,000     $ 48,000  
Capital expenditures             (9,000 )     (9,000 )
Free cash flow           $ 34,000     $ 39,000  

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Artificial Intelligence

Retail Analytics Market worth $25.0 billion by 2029 – Exclusive Report by MarketsandMarkets™

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retail-analytics-market-worth-$25.0-billion-by-2029-–-exclusive-report-by-marketsandmarkets™

CHICAGO, March 28, 2024 /PRNewswire/ — Adoption of real-time capabilities and sophisticated analytics, such as artificial intelligence, for omnichannel integration and improved customer experiences is what the Retail Analytics Market will look like in the future. Partnerships for innovation, a rising emphasis on sustainability and ethical analytics, supply chain optimisation, in-store analytics, and a focus on data privacy and security will all be critical.

The Retail Analytics Market is projected to grow from USD 8.5 billion in 2024 to USD 25.0 billion by 2029, at a compound annual growth rate (CAGR) of 24.0% during the forecast period, according to a new report by MarketsandMarkets™. The Retail Analytics Market is expected to grow significantly during the forecast period, owing to various business drivers like the increasing increasing adoption of omni-channel retail strategies, exponential growth of e-commerce platforms, and proliferation of data generated through diverse channels is also responsible for driving the market’s growth.
Browse in-depth TOC on “Retail Analytics Market”
300 – Tables 75 – Figures310 – Pages
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=123460609
Scope of the Report
Report Metrics
Details
Market size available for years
2019–2029
Base year considered
2023
Forecast period
2024–2029
Forecast units
USD (Billion)
Segments Covered
Offering, Business Function, Application, End User, and Region
Geographies covered
North America, Asia Pacific, Europe, Middle East & Africa, and Latin America
Companies covered
Microsoft (US), IBM (US), SAP (Germany), Oracle (US), Salesforce (US), MicroStrategy (US), SAS Institute (US), AWS (US), Qlik (US), Teradata (US), WNS (India), HCL (India), Lightspeed Commerce (Canada), RetailNext (US), Manthan Systems (India), Fit Analytics (Germany), Trax (Singapore), ThoughtSpot (US), RELEX Solutions (Finland), Tredence (US), Creatio (US), Solvoyo (US), datapine (Germany), Sisense (US), EDITED (UK), Retail Zipline (US), ThinkINside (Italy), Dor Technologies (US), Triple Whale (Israel), Flame Analytics (Spain), Alloy.ai Technologies (US), Conjura (UK), Kyvos Insights (US), Pygmalios (Slovakia), and SymphonyAI (US)
 
By Software by analytics type, the predictive analytics segment to register for the largest market size during the forecast period.
By software by analytics type, the predictive analytics segment is expected to register the largest market size during the forecast period. Predictive analytics software can help forecast sales volumes, identify demand fluctuations, and predict customer preferences, enabling retailers to optimize pricing strategies, allocate resources efficiently, and tailor marketing campaigns to target specific customer segments. Recent advancements in predictive analytics technology, including the integration of AI and machine learning algorithms, have further enhanced the capabilities of predictive analytics software, enabling retailers to gain deeper insights, make more accurate predictions, and drive greater business value.
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By services, managed services to register for the highest CAGR during the forecast period.
The managed segment of the Retail Analytics Market is growing rapidly. Managed service providers (MSPs) offer tailored solutions that cater to the unique needs and challenges of retailers, delivering insights that drive operational efficiency, enhance customer engagement, and drive revenue growth. MSPs employ skilled professionals with expertise in data analysis, machine learning, and retail industry trends, enabling retailers to harness the full potential of their data assets. Additionally, managed services provide scalability and flexibility, allowing retailers to adapt to changing business requirements and market dynamics without the need for significant investments in infrastructure or personnel.
By region, Asia Pacific accounted for the highest growth rate during the forecast period.
Asia Pacific is witnessing significant growth in the Retail Analytics Market. The surging popularity of e-commerce, with regions like China and India leading the charge, is a major growth driver. Retailers are increasingly reliant on data to understand online consumer behaviour, optimize pricing and promotions, and personalize marketing efforts. Additionally, the growing adoption of the Internet of Things (IoT) in stores is generating vast amounts of data on customer traffic, product interaction, and inventory levels.
Top Key Companies in Retail Analytics Market:
Some major players in the Retail Analytics Market include Microsoft (US), IBM (US), SAP (Germany), Oracle (US), Salesforce (US), MicroStrategy (US), SAS Institute (US), AWS (US), Qlik (US), Teradata (US), WNS (India), HCL (India), Lightspeed Commerce (Canada), RetailNext (US), Manthan Systems (India), Fit Analytics (Germany), Trax (Singapore), ThoughtSpot (US), RELEX Solutions (Finland), Tredence (US), Creatio (US), Solvoyo (US), datapine (Germany), Sisense (US), EDITED (UK), Retail Zipline (US), ThinkINside (Italy), Dor Technologies (US), Triple Whale (Israel), Flame Analytics (Spain), Alloy.ai Technologies (US), Conjura (UK), Kyvos Insights (US), Pygmalios (Slovakia), and SymphonyAI (US).
Recent Developments:
In February 2024, IBM announced the availability of the popular open-source Mixtral-8x7B large language model (LLM), developed by Mistral AI, on its Watsonx AI and data platform, as it continues to expand capabilities to help clients innovate with IBM’s own foundation models and those from a range of open-source providers.In January 2024, IBM announced its collaboration with SAP to develop solutions to help clients in the consumer-packaged goods and retail industries enhance their supply chain, finance operations, sales and services using generative AI.In January 2024, Salesforce announced the availability of Einstein 1 Studio, a set of low-code tools that enables Salesforce admins and developers to customize Einstein Copilot and seamlessly embed AI across any app for every customer and employee experience.In November 2023, MicroStrategy announced the availability of MicroStrategy ONE in the AWS Marketplace. By bringing together MicroStrategy’s powerful generative artificial intelligence (AI) capabilities for business intelligence (BI) and the scalability and reliability of Amazon Web Services (AWS), customers can now access a ready solution for deploying trusted AI at scale for analytics.In September 2023, Oracle showcased new AI-powered capabilities within Oracle Analytics Cloud. Leveraging the Oracle Cloud Infrastructure (OCI) Generative AI service, the new capabilities assist analytics self-service users to conduct sophisticated analysis and make better business decisions without having to wait for data scientists or IT teams more quickly and efficiently.Inquire Before Buying@ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=123460609
Retail Analytics Market Advantages:
Retailers can better fulfil customer demand by optimising pricing, promotions, inventory management, and product assortment with the use of retail analytics, which offers insights into customer behaviour, preferences, and trends.Retail analytics enables merchants to enhance the overall shopping experience, personalise marketing campaigns, and make customised product recommendations by evaluating customer data from many touchpoints. This increases customer happiness and loyalty.Retail analytics forecasts demand, identifies slow-moving commodities, and optimises replenishment procedures to help merchants maximise inventory levels, minimise stockouts and overstock situations, and increase supply chain efficiency.Through the automation of manual operations, the streamlining of procedures, and the identification of opportunities for cost reduction and performance improvement throughout the retail value chain, from procurement to distribution, retail analytics solutions increase operational efficiency.By helping companies to anticipate market trends, spot new business possibilities, and respond swiftly to shifting customer tastes and shifting market dynamics, retail analytics gives merchants a competitive edge that boosts sales and market share.Through the analysis of trends and abnormalities in transaction data, as well as the mitigation of fraud-related risks and revenue loss, retail analytics assists retailers in detecting fraudulent activity, including fraudulent transactions and refunds.Retail analytics gives businesses the ability to better allocate marketing expenditures, maximise marketing return on investment, and enhance the efficacy of customer acquisition and retention strategies by evaluating the success of marketing campaigns and promotions.Retailers may foresee future trends, take proactive business decisions, and seize market opportunities by using predictive analytics tools to forecast sales, demand, and customer behaviour.Report Objectives
To define, describe, and predict the Retail Analytics Market by offering (software and services), business function, application, end user, and regionTo provide detailed information related to major factors (drivers, restraints, opportunities, and industry-specific challenges) influencing the market growthTo analyze the micro markets with respect to individual growth trends, prospects, and their contribution to the total marketTo analyze the opportunities in the market for stakeholders by identifying the high-growth segments of the Retail Analytics MarketTo analyze opportunities in the market and provide details of the competitive landscape for stakeholders and market leadersTo forecast the market size of segments for five main regions: North America, Europe, Asia Pacific, Middle East & Africa, and Latin AmericaTo profile key players and comprehensively analyze their market rankings and core competencies.To analyze competitive developments, such as partnerships, new product launches, and mergers and acquisitions, in the Retail Analytics MarketTo analyze the impact of recession across all the regions across the Retail Analytics MarketBrowse Adjacent Markets: Analytics Market Research Reports & Consulting
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Full Schedule Released for Hong Kong Web3 Festival 2024

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HONG KONG, March 28, 2024 /PRNewswire/ — Following the success of its record-breaking 2023 event, HK Web3 Festival is returning for its second edition from 6 to 9, April at Hall3FG, Hong Kong Convention and Exhibition Centre. Hosted by Wanxiang Blockchain Labs and HashKey Group, the Festival will convene over 160 game-changing projects, 100 media and 300+ notable speakers to exchange up-to-date knowledge, experiences, and views that are expected to shape the narrative around Web3 and blockchain.

With the event taking place in the innovation-rich city of Hong Kong, the Web3 Festival 2024 converges East and West ideologies. It sets four regular conference areas and an open stage, providing an avenue for eclectic discussions around Web3, idol performance, Web3 professional esports tournament, and more!
We’re proud to present our distinguished sponsors and exhibitors:
Title Sponsors: DWF Labs, Internet Computer, MEET48, OKX Web3, TON Foundation, ZA BankStrategic Partner: Cyberport, Hong Kong Trade Development Council (HKTDC), InvestHKPlatinum Sponsors: Chainlink, Cregis, Deepcoin Labs, Gate.io, Gunzilla Games, NEAR Protocol, Neo, Polkadot, Qtum, SlowMist, Telos Foundation, Victory Securities, Zetrix, ZircuitCo-organizers: Arkreen, AWS, Bitcoin Magazine, Nervos CKB, PlatON, SNZ, 香港虚拟资产行业协会, ZANSide Event Partners: ABGA, Animoca Brands & Chromia, Aptos, DRK Lab, Filecoin Foundation, GoPlus, HashKey Exchange, SlowMist, TON Foundation, UOVABOXGold Sponsors: AltLayer, Cards Ahoy!, CESS, Kaspa, Kava, 鲲KUN, Mask Network, PortUS, Roam, Rollux, X-mintPrimary Exhibition Sponsors: Alfa1, Alibaba Cloud, 百道数据, BNB Chain, CertiK, EMC, Google Cloud, Hotcoin, MicrovisionChain, OneKey, XT.comSecondary Exhibition Sponsors: Alchemy Pay, Bitget Wallet, Bitroo, CE Innovation Capital, Cell Studio, Conflux, Digital Reserve, Initiate Capital, Japan Open Chain, Nervape, NovaX Finance, OceanFi, PIN Labs, TynmoSpace, VoiceStreet, W3SA-HKTertiary Exhibition Sponsors: 100x, Akamai, Alaya AI, Bit.Store, Bullish, ChainUp, Cloud Ace, Daling Research, dappOS, Dexpert.io, ELLIPAL, EngageLab, Hacken, ICG Trading, imToken, Keyblock Solutions, Landlord, MoreLogin, MuskEX, Notifi, OpenSand, PingCAP, PrivateAI, 山海坞, StaFi, TaxDAO, Tencent Cloud, TokenPocket, TruBit, UD Blockchain, WatchX, 伊克罗德信息+IOST, zCloak NetworkKnowledge Partners: Brevis, CoinMarketCap, Flow TradersCoffee Bar Sponsor: ZetrixOpen Stage Sponsors: KongGold, 玛特宇宙, MATR1X & GEDA Esports, NovaX Finance, NuLink, OceanFi, The SandboxWelcome Bag Sponsor: d.id, VIP3Exclusive Video Partner: SpinorApril 6th – FIRST DAY
The opening ceremony will kick off at the Main Stage on the morning of April 6th. Speakers of the ceremony will include:
Dr. Xiao Feng, Chairman, Wanxiang Blockchain; Chairman and CEO, HashKey GroupMichael Wong Wai-lun, GBS, JP, Deputy Financial Secretary, Hong Kong Special Administrative RegionDeng Chao, Head, HashKey Singapore, CEO, HashKey CapitalCathie Wood, Founder, CEO and CIO, ARK InvestDuncan Chiu, Legislative Council Member (Technology & Innovation Constituency), Hong KongSimon CHAN, Chairman, Hong Kong Cyberport Management Company LimitedGenki Oda, Chairman, Japan Virtual and Crypto assets Exchange AssociationDavid Lee, Chairman, Global FinTech InstituteYang Jinyan, Secretary General, Hong Kong Virtual Assets Industry AssociationDominic Williams, Founder and Chief Scientist, DFINITY FoundationSteve Yun, President, TON FoundationJohn Hyman, Chief Investment Officer, Telegram APPOn the afternoon of April 6, intriguing sessions will take place concurrently at the Main Stage, Stage 1-4, and Open Stage.
–          Main Stage – Journey to Building Hong Kong into a Digital Economic Hub
Focusing on Hong Kong policies, regulation and fintech development, this session will gather professionals and project leaders including:
Livio Weng, COO, HashKey Group; CEO, HashKey ExchangeEugene Ng, Founding Partner, DWF LabsHong, President, OKX,Charlie Chen, Vice President, Asia Pacific, ArchblockRita Liu, CEO, RD TechnologiesRaagulan Pathy, Vice President, Asia Pacific, CirclePaul Kremsky, Head of Business Development, CumberlandJordan Dunne, Head of DeFi, TON Wallet in TelegramSergey Nazarov, Co-Founder, ChainlinkAlice Liu, Research Lead, CoinMarketCapDevon Sin, Alternate Chief Executive, ZA BankFrank Zhang, Executive Director, OKX Hong KongPaolo Chen, CSO, VDXDarshan Vaidya, CEO & Co-Founder, CredoraRichard Teng, Chief Excutive Officer, BinanceAnna Liu, General Manager of Tokenisation, HashKey GroupEmily Parker, Former CoinDesk and US State DepartmentJupiter Zheng, Partner, HashKey CapitalDeborah FUHR, ETFGI, Managing Partner, Founder, OwnerGiovanni Vicioso, Global Head of Cryptocurrency Products, CME GroupGiselle Lai, Associate Investment Director of Digital Assets, Fidelity InternationalJean-Francois MESNARD-SENSE, Senior Vice President & Head of Exchange Traded Products, Hong Kong Exchanges and Clearing LimitedDerek Wang, Head of Sales & Client Service, Bosera InternationalChen Yu, Chief Advisor, KUN-          Stage 1 – GameFi New Paradigm
Co-organized by Gunzilla Game, this session will dive into the magic of Web3 games, as well as user behaviors in Web2 and Web3 games. It will feature an eclectic lineup of speakers from across the globe:
Yat Siu, Co-Founder and Chairman, Animoca BrandsKevin Shao, Co-Founder of Bitrise Capital, Executive Chairman of ABGA, Advisor to ICC GroupJerry Liu, Gunzilla GamesArron Goolsbey, COO, Mythical GamesJason Gu, CEO, NetEase Chain; Game Advisor, Cards Ahoy!Andy Dan, Head, HashKey JapanRyo Matsubara, Representative Director, Oasys Pte. Ltd.Seihaku Yoshida, CEO, HashPortYASUSHI TERAMURA, Head of Blockchain Business, gumi Inc.Yoshiaki Harai, Director, Brilliant CryptoPär Helgosson, Head of Web3 and Metaverse, PARIS SAINT-GERMAINLeo, CGO, CARVAnthony Blackburn, Growth Lead, Gunzilla GamesEllidan Cober, SMILECOBRA PTE. LTD. O-PrincipalAnn Chien, Partner, IVCRiccardo Sibani, CPO, My Neighbor AliceMichael Tong, Founder, Xterio; CSO, FunplusViola Lee, COO, Metalist Game; Operation Manager, Cards Ahoy!-          Stage 2  – Web3+AI
Co-organized by AWS, the “Web3+AI” forum will be held at Stage 2, discussing trending topics around the integration of Web3 and AI. Confirmed speakers of this session include:
John Liu, Head of Products for Blockchain and Web3, AWSYike Guo, Provost, The Hong Kong University of Science and TechnologyYu Du, General Manager, Wanxiang Blockchain Labs; Initiator, Future3 CampusSeth Ginns, Managing Partner and Head of Liquid Investments, CoinFundYilin Hu, Associate Professor of Department of the History of Science, Tsinghua University; Founder, HuawenDaoSY Lee, CEO and Co-founder, Story ProtocolEthan Sun, Co-Founder, MyshellYu Hu, CEO, Kaito.aiSaneel Sreeni, Founding Member, Ritual.netAmber, Co-Founder, No CapitalAkina Ho, Co-Founder, AllStarsWomen DAOAnnie Hui, COO and Co-Founder, Custonomy Company LimitedMegan, CEO, RegtankTess Hau, Founder, Tess VenturesThe “Web3+AI” forum will also feature a special session, where Dr. Xiao Feng and John Liu will announce the projects selected into Future3 Campus Cohort III, powered by Wanxiang Blockchain Labs and partnered with HashKey Capital.
–          Stage 3 – Digital Asset Custody and Blockchain Security
Sessions on Stage 3 will feature a wide range of topics on digital asset custody and blockchain security, joined by professionals and experts including:
Pauline Fan, Senior Vice President, Fintech, InvestHKKang Li, Chief Security Officer, CertiKAnthony Chung, Chief Product Executive, CregisKeywolf, Partner and CPO, SlowMistEskil, Co-Founder, GoPlusYiqun, Product Lead, imTokenXiao Zhang, Founder, zCloak NetworkZack Yang, Co-Founder, FOMO PayChristoph Simmchen, Co-Founder, Safe Ecosystem FoundationYQ, Founder, AltLayerMichael Chen, Head, HashKey WealthLily Z. King, COO, CoboTRUNG BANH, Co-Founder & Chief Product Officer, HOLDSTATIONMichael Lau, Senior Vice President & Global Head of Sales, BullishMatthew Le Merle, Managing Partner and CEO, Blockchain Coinvestors-          Open Stage
The Open Stage will feature various trending topics around Web3, bringing together bigwigs like:
Tim Yang, Founder and CEO, .bitCharles, Co-founder, VIP3Viola Lee, COO, Metalist Game, Operation Manager, Cards Ahoy!Yilin Hu, Associate Professor, Department of the History of Science, Tsinghua UniversityBo Chen, CEO, 玛特宇宙                            April 7th – Day II
–          Main Stage – Layer1 + Layer2
The “Layer1+Layer2” Forum will be held on April 7th at the Main Stage, focusing on trending topics such as the latest landscape of Layer1, sustainable public chain, successful applications, Layer2 development, uses cases, ecosystem service and applications, best practice, investment trend, BTC Layer2, and more. Confirmed speakers of this forum include:
Avery Ching, Co-Founder and CTO, Aptos LabsDato Fadzli Shah, Co-Founder, ZetrixLily Liu, President, Solana FoundationScott Stuart, Co-Founder, KavaHaseeb Qureshi, Managing Partner, Dragonfly CapitalKai Xu, COO, MEET48Eli Ben Sasson, CEO and Co-founder, StarkWareSmokey, Co-Founder, BerachainRoss Zhang, Managing Partner, SNZ CapitalTom Ngo, Executive Lead, MetisTerence Lam, COO, TaikoSergei Medvedev, CMO, IntMaxLeo Fan, Founder, CysicYQ, Founder, AltLayerAngel Xu, Co-founder, ZircuitSam Seo, Representative Director, Klaytn FoundationSreeram Kannan, CEO, EigenLabsKeith Chen, Managing Director, SNZ CapitalMo Dong, Co-founder, BrevisDaniel Marin, CEO, NexusGeorgi Koreli, Founder, HinkalFubiao Xia, Co-founder, PADO LabsDennis Song, Chief Security Officer, Mind NetworkRyan Chen, Managing Partner, HashKey CapitalLasse Clausen, Founding Partner, 1kxAlexander Pack, Managing Partner, HackVCVineet Budki, Managing Partner and CEO, Cypher CapitalGavin Wang, CIO, SNZ CapitalEmma Cui, Co-Founder & Managing Partner, Longhash VenturesRena Shah, VP of Product & Operations (stacks ecosystem), Trust MachinesCipher, Co-founder, Cell StudioEason, CEO, TerpLayerBlue, Partner and CTO, SlowmistJan Camenisch, CTO, DFINITY Foundation-          Stage 1 – DePIN
DePIN represents a new paradigm for building and managing physical infrastructure, and is undoubtedly a game changer for the crypto sector. Get ready to explore the current DePIN landscape and RWA at this forum co-organized by arkreen Stage 1, where you’ve got the chance to connect with an all-star lineup of guest speakers, top DePIN project founders, investors, and visionaries.
Abhay Kumar, CEO, Helium FoundationAndy Chatham, Co-Founder, DIMOSal Gala, Founder, EV3Ivy Peng, Founder, Open Infra CapitalYu Du, General Manager, Wanxiang Blockchain Labs; Initiator, Future3 CampusLeo Lin, Founder, arkreenYuan Gao, Head of Growth, Helium FoundationKuleen Nimkar, Head of DePIN, Solana FoundationHenrique Centieiro, Research Manager, Hashkey CapitalAdrian Clevenot, Digital Assets Markets Lead, PwC HKYves La Rose, CEO, EOS Network FoundationRichard Liu, Co-founder & Co-CEO, Huma FinanceHenry Zhang, Founder & CEO, DigiFTKazuhiro Sudo, COO, BOOSTRYAbba Garba, Head of Product and Partnership, arkreen NetworkFredrik Ahlgren, CEO and Co-founder, Srcful.ioDayon Elings, Business Developer, bloXmoveTing, Founder, PowerPodSascha Kubisch, Co-Founder & CTO, PenomoAlex, Co-Founder, EMCDiana Biggs, Partner, 1kxKang Shen, Founder, Hash GlobalRay Xiao, Senior Director, IOSG VenturesEo Hao, Co-Founder, Future Money GroupDexter Luo, General Manager of Ecosystem Partnership, Fibocom WirelessJose Marcelino, Solutions Architect, RAKwirelessJoey Jiang, VP, SeeedstudioYiming Wang, Partner, JDIYuning Liang, Founder & CEO, Xcalibyte & DeepComputingDaniel Andrade, CTO & Co-Founder, HotspottyNico Burkart, Partnerships & Business Development, Streamr NetworkLuis Gruson, Co-Founder and BD Lead, KwilChess, CEO, GMNetworkAndrew Law, Research Scientist, IoTeX-          Stage 2 – The Future of Web3 & Web3 Payment Re-imagined
The morning session at Stage 2 will convene Web3 bigwigs across the globe to explore the next big thing that’s shaping the future of Web3.
Chae Ho Shin, CFO, 1inchAkif, Regional Growth Lead, Deepcoin LabsKevin Lee, CEO, Gate.HKJehan Chu, Founder, Kenetic Capital;Uri Ferruccio, CEO, ConcordiaAugie, Head of Asia, CMTStanley Huo, Partner & Head of Asia, Hivemind CapitalSteve Lee, Co-Founder & Managing Partner, Neoclassic CapitalBalal Khan, Co-founder, ZKEX.comAdrian Wang, Founder and CEO, MetalphaShawn Lim, Founder & Partner, Artichoke CapitalPaul Kim, Notifi CEOSmokey, Co-Founder, BerachainTim Wang, COO, Elixir NetworkRushi Manche, CEO, Movement LabsThe spotlight will be on Web3 payment at the afternoon session co-organized by PlatON, discussing topics like “Innovative use cases in Stablecoins”, “Global Regulatory Focus Trends Discussion in Web3 Payment”, and more. It will bring together esteemed speakers including:  
Abdallah Abu-Sheikh, Co-Founder of Astra Tech & CEO of BotimCharles Huang, Chairman of DCS Fintech HoldingsAnson Zeall, Chief Strategy Officer and Head of Compliance at dtcpayAdam Farhat, Director of Partnerships, Alchemy PayHelen Chen, Senior Director, Payment AsiaLi Hui, CEO, FatpayCeridwen Choo, CEO, DCS InnovDaniel Lee, Head of Web3, Banking CircleLaurence Yuan, Partner, Fangda PartnersPaul Li, President, Hong Kong Fintech Industry AssociationEmil Chan, Co-Chair, Hong Kong Digital Finance AssociationChen Yu, Chief Consultant, KUNJason Gu, CEO, NetEase ChainAmor Maclang, Convenor, International Digital Economies Association-          Stage 3 – Web3 Infrastructure & Web3 Mass Adoption
At the morning session at Stage 3, a wide range of topics will be discussed around Web3 infrastructure. Intriguing discussions will surely ignite the stage with the participation of world-leading projects like Qtum, Polygon Labs, Conflux, Neo, Google Cloud, Kaspa, Avail, ChainIDE, BNBChain, Astar, Ripple, Manta, and more. Confirmed speakers of this session include:
Marc Boiron, Chief Executive Officer, Polygon LabsMiguel Palencia, Co-Founder, QtumMing Wu, Co-Founder & CTO, ConfluxDa Hongfei, Founder, NEORishi Ramchandani, Head of APAC Web3 GTM, Google CloudJagdeep Sidhu, CEO/President, SYS Labs/SYS FoundationShai Wyborski, Core Researcher, GHOSTDAG coauthor, KaspaAnurag Arjun, Co-Founder, AvailLing, Founder of ChainIDE, Executive Committee Member of ETH RiyadhSarah, APAC BD Lead, BNBChainMingshi Song, Head of Strategy, Astar NetworkEmi Yoshikawa, VP, Strategic Initiatives, RippleKenny Li, Co-Founder, Manta NetworkThe afternoon session aims to delve deep into the transformative concepts and technologies that are driving the mass adoption of Web3. Co-organized by ZAN, this forum will gather professionals and visionaries exchange insights and shed light on solutions towards Web3 mass adoption. It will feature an all-star lineup of speakers including:
Bin Chen, General Manager, Shanghai Wanxiang Blockchain IncVictor Zhou, CEO of Namefi, Ethereum EIP EditorHUI ZHANG, CEO, ZANYisi Liu, Co-Founder and CTO, Mask NetworkDongliang Guo, VP, Product & Solutions, Alibaba Cloud InternationalRich Rines, Initial Contributor, Core DAOZheming Lin, Co-Founder and CEO, Mempool and DotWalletCobe Zhang, Head of Web3 and AI products, ZANCipher, Co-founder, Nervos; Founder, Cell StudioJerry Li, CEO, Artela NetworkPeet, Co-Founder, Trusta LabsKai Xu, COO, MEET48Ken, Partner & Head of APAC Investment, Web3Port FoundationSam, Operation Manager, TokenPocketShier, Co-Founder, NFTScan LabsCharles, Co-Founder, VIP3Rene Z, Founder, CharacterXDaniel Dai, Partner, LFGEva Beylin, Director, The GraphTegan Kline, CEO, Edge & Node-          Open Stage
Notable speakers worldwide will be gathered at the Open Stage for ground-breaking discussions on Web3 and blockchain:
Jason Runyon, CEO, NovaXOlaf Niggemann, CEO, OceanFiKathy Qu, Research Manager, HashKey CloudJason Choi, Head of Strategy, CointelegraphSreeram Kannan, Founder, EigenlayerDavid Tse, Co-Founder, BabylonChainDorothy Liu, Head of Growth, Altlayer.ioLucas Kozinski, Founding Contributor, Renzo ProtocolRanvir Rana, Co-Founder, WitnessChainErich Wong, Head of Growth of, The Sandbox Hong KongRachel Lee, Senior Manager, FinTech, CyberportAlso enjoy an excellent idol performance like no other given by SNH48 Group!
April 8th – DAY III
Get yourself immersed in a crypto journey on April 8th with side-event partners as they take the center stage at the Festival.
Main Stage: TON At Web3 Festival
Stage 1 (Morning): Only On Aptos
Stage 1 (Afternoon): Hong Kong Web3 Festival 2024 Official GameFi Side Event
Stage 2 (Morning): HashKey Exchange: New Era for Compliant Trading
Stage 2 (Afternoon): GoPlus User Security Summit HongKong
Stage 3 (Morning): FIL Hong Kong
Stage 3 (Afternoon): Hacking Time: Web3 Security and Compliance
Web3 Festival Side-events:https://en.web3festival.org/Side_Event.html
An exciting Web3 professional esports tournament will kick off at the Open Stage from April 8 to 9, hosted by Matr1x and GEDA Esports. Get prepared!
April 9th – LAST DAY
The last day of the event will see exciting side-events organized by Animoca Brands & Chromia, DRK Lab, and UOVABOX, alongside two forums held by the hosts and co-organizers.
Forum – BTC Technology Development and Ecosystem Construction
This forum will take place at the Main Stage (morning) and Stage 3 (afternoon), with a special focus on the Bitcoin ecosystem. It will invite:
Jan, Architect, NervosJohn Lilic, Executive Director, TelosJohn Riggins, Partner, BTC IncJeff Ren, Partner, OKX VentureXing Kong, Founder, Bixin GroupShen Yu, Co-Founder & CEO, CoboDU JUN, CEO, SINOHOPEJeffrey Hu, Head of Investment Research, HashKey CapitalBen, Founder, Discoco labsArthur, Creator, AtomicalsCipher, Co-founder, Nervos; Founder, Cell StudioRena Shah, VP Products & Operations, Trust MachinesDavid Tse, Founder, BabylonJeff, Founder, Merlin ChainHan Tang, Founder, SeeDAOYunwen, Researcher, CryptapeZhao Zhang, CTO, OneKeyShawn, Head of Incubator, SeeDAOForest, Founder, Foresight Ventures; Chairman of The BlockJianping Kong, Founder, Nano LabsWang Feng, CEO & Founder, ElementBrutoshi, Co-Founder, Wizz WalletZhixiong Pan, Co-Founder, ChainFeedsKeith Chen, Managing Partner, SNZ CapitalJerry Liu, Founding Partner, Waterdrip CapitalAudrey Tang, Founder, DRK LabBMAN, Co-Founder, ABCDEForum- Restaking & DeFi
This forum will take place at the Stage 1 (morning). It will invite:
Arisa Toyosaki, Co-Founder and CEO, CegaPhilip Forte, CEO, ElixirCharles d’Haussy, CEO, dYdX FoundationJoseph Poon, CEO, WarpFiona Ma, Senior Associate, DWF VenturesJacob Ko, Founding Partner, SuperscryptMin Teo, Managing Partner and Co-Founder, EtherealAdam, Founding Partner, FinalityAlan Curtis, CEO, Rio NetworkTina Haibodi, External Strategy Lead, Eigen LabsForum- Tokenization
This forum will mark an official end to this incredible journey, where you’ve got the chance to connect with:
Yike Guo, Provost, The Hong Kong University of Science and TechnologyDuncan Chiu, Legislative Council Member (Technology & Innovation Constituency), Hong KongDr. XIAO Feng, Chairman of Wanxiang Blockchain, Chairman and CEO of HashKey GroupLeo Lin, Founder, arkreenCao Meiying, Co-Initiator, ThreeDAOLeo, Co-Founder & Chief Content Officer, Moore FinanceAlex, Co-Founder, VIP3Leo Li, CEO, HashKey CloudLoong Pui Fung Andrew, Principal Consultant, Cascade Capital LimitedKennix Chan, Executive Director, Victory Securities Company LimitedMerida PAN, COO, Magic Circle Technology LimitedHannah Cassidy, Partner, Herbert Smith Freehills; Asia Head, Financial Services RegulatoryJong-Goo Yi, Senior Foreign Attorney, Kim & ChangJay Lee, Partner, K&L Gates 
About Web3 Festival 
Hong Kong Web3 Festival is a premier Web3 event hosted by Wanxiang Blockchain Labs and HashKey Group, and organized by W3ME. Hong Kong Web3 Festival provides an open stage to foster collboration, explore the Web3 landscape and establish a shared vision of the digital future. Learn more at web3festival.org
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Aryaka’s 2024 Secure Network Transformation Report: 81% of IT Pros Say Hybrid Work Drives Demand for SASE and Zero-Trust Networking

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aryaka’s-2024-secure-network-transformation-report:-81%-of-it-pros-say-hybrid-work-drives-demand-for-sase-and-zero-trust-networking

70% seek SASE and SD-WAN convergence for simplified network security management
SANTA CLARA, Calif., March 28, 2024 /PRNewswire/ — CIOs, CISOs and IT leaders are drowning in complexity as they manage hybrid workforces, cloud adoption and the ever-evolving threat landscape. A new report from Aryaka®, the leader and first to deliver Unified SASE as a Service, reveals that Secure Access Service Edge (SASE) and Software-Defined Wide Area Networking (SD-WAN) are rapidly becoming essential tools for navigating this complex environment.

The Secure Network Transformation Report 2024 surveyed 202 IT, security and network professionals, director-level and above, across North America, EMEA and Asia. The findings paint a picture of the industry’s changing landscape and highlight key emerging trends:
Hybrid Everything Drives Demand for Flexibility: The rise of hybrid work arrangements, coupled with hybrid infrastructure and security deployments, is fueling the need for adaptable and secure network solutions. A significant 81% of respondents say hybrid work is driving demand for SASE and zero-trust networking. This highlights the critical role these technologies play in connecting a complex, hybrid world.SASE and SD-WAN: The Pillars of Modern Network Security: SASE and SD-WAN are no longer seen as niche solutions. The survey found that a staggering 84% of respondents believe SASE is either “mature” or “somewhat mature,” with an even higher number (91%) saying the same about SD-WAN. This maturation positions SASE and SD-WAN as trusted, complementary tools for modern network security strategies. SASE integrates security features with SD-WAN’s network optimization capabilities, ultimately simplifying management and strengthening security.Network and Security Convergence: A sizable majority (70%) of respondents indicated that they see value in converging SASE and SD-WAN solutions. The primary benefits for doing so are multi-pronged. 34% want more robust network operations and security, 24% want less operational burden and 19% want vendor consolidation.Zero-Trust Networking is a Cornerstone of Hybrid Work Security: As more organizations embrace hybrid work, securing access points becomes paramount. The survey revealed that 64% of respondents consider zero-trust security a crucial component of SASE for hybrid work deployments.The Secure Network Transformation Report 2024 also delves deeper into other industry trends. For example, the exponential growth of cloud-based applications and services, including Artificial Intelligence (AI), is placing a notable strain on traditional network architectures. These modern applications require secure, high-performance connections that can dynamically adapt to changing traffic patterns. The report found that 67% of respondents see managed services and SASE playing a greater role in managing these complex environments.
Additionally, the report explores the shift in enterprises moving away from expensive legacy Multiprotocol Label Switching (MPLS) services, with 76% planning to eliminate MPLS, either in the immediate future or in the next 2-3 years. Moreover, 10% of respondents have already eliminated MPLS completely.
“Our report shows that the IT and network security landscape is undergoing a major transformation driven by the rise of hybrid work models and the ever-increasing adoption of AI and cloud-based applications and services,” said Pete Harteveld, Chief Revenue Officer at Aryaka. “Aryaka is listening to its customers and the IT industry at large to deliver innovative solutions that address businesses’ most pressing needs. Our Unified SASE as a Service combines a unified single-pass architecture, global private network backbone, and security, observability and application performance capabilities into a single platform. That alone is unprecedented, but we also deliver it as a service, providing the security as well as the flexibility and affordability today’s IT leaders require.”
Aryaka’s Secure Network Transformation Report 2024 offers a comprehensive analysis of the findings and explores the implications for IT, network and security leaders. To download the full report, please visit: https://www.aryaka.com/reports-and-guides/secure-network-transformation-report-2024/
Additional Resources:For more on Aryaka, please visit: https://www.aryaka.com/Visit the Aryaka blog: https://www.aryaka.com/blog/Follow Aryaka on X: @AryakaNetworksVisit Aryaka on LinkedIn: https://www.linkedin.com/company/aryaka-networks/
About AryakaAryaka is the leader and first to deliver Unified SASE as a Service, the only SASE solution designed and built to deliver performance, agility, simplicity and security without tradeoffs. Aryaka meets customers where they are on their unique SASE journeys, enabling them to seamlessly modernize, optimize and transform their networking and security environments. Aryaka’s flexible delivery options empower enterprises to choose their preferred approach for implementation and management. Hundreds of global enterprises, including several in the Fortune 100, depend on Aryaka for cloud-based software-defined networking and security services. For more on Aryaka, please visit www.aryaka.com.
Technology Media/Analyst ContactLee RegalLumina Communications for [email protected]
Channel Media/Analyst ContactKhali HendersonSenior PartnerBuzzTheory (for Aryaka)[email protected]
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