Artificial Intelligence
Cloud Analytics Market Worth $104 billion by 2028 – Exclusive Report by Meticulous Research®
Redding, California, Sept. 01, 2021 (GLOBE NEWSWIRE) — According to a new market research report titled, “Cloud Analytics Market by Component, Type (Predictive, Prescriptive, Descriptive, Diagnostic), Deployment Mode, Industry Vertical (BFSI, Healthcare, IT, Manufacturing, Media, Retail, Education, Utilities), and Region – Global Forecast to 2028’”, published by Meticulous Research®, the cloud analytics market is expected to grow at a CAGR of 20.7% from 2021 to 2028 to reach $104 billion by 2028.
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Cloud analytics refers to deploying scalable cloud computing with effective analytic software to identify patterns & trends in data and extract new insights. Cloud analytics describes applying analytic algorithms in the cloud against data in a private or public cloud to deliver a result of interest. It is often associated with AI, ML, and deep learning (DL). It is commonly used in industrial applications such as scientific research in genomics or oil and gas fields, business intelligence, security, IoT, and many others. Any industry can benefit from data analytics to improve organizational performance and to drive new value.
The growth of this market is attributed to the increasing data connectivity through multiple cloud platforms, increasing availability of cloud-based solutions at affordable prices, and growing digitalization and rise in Big Data. In addition, the lack of in-house IT expertise offers significant growth opportunities for the cloud analytics market. However, security & privacy concerns and lack of reliability on web-based solutions are some of the key factors obstructing the growth of this market up to some extent.
Impact of COVID-19 on the Cloud Analytics Market
The COVID-19 pandemic has had a minimal effect on the cloud analytics market. This can be attributed to factors such as the growing acceptance of mobile applications, high reliance on work-from-home culture, surge in social media usage, increasing popularity of online education, and rise of big data technology. In addition, several sectors, including healthcare, BFSI, and media & entertainment, have also witnessed the benefits of cloud services to enhance their capabilities.
As COVID-19 began to spread globally, healthcare organizations were forced to quickly reassess their technology and pull plans for digital transformation forward. One of the most pressing priorities for healthcare organizations was expediting their adoption of cloud technologies to more efficiently manage the deluge of patient information, ensure streamlined workplace practices, and enable information sharing with greater ease. As organizations look to provide critical healthcare equipment such as PPE and ventilators to those in need, cloud’s predictive analytics can help those managing the supply chain better understand where shortages exist and where they will soon be to allocate before there is an issue. Matching algorithms are easily implemented alongside predictive services to reduce waste in the supply chain, enabling real-time visibility to both suppliers and procurers.
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Furthermore, the media & entertainment industry witnessed the massive acceptance of several OTT platforms, such as Netflix, Disney+, and Amazon Prime Video. For instance, in Italy, Amazon Prime Video saw a 60% growth in app downloads, while 30% growth in Spain. Similarly, according to Verizon Communications, Inc., video game usage rose to 75% in a week as soon as the lockdown was imposed in the U.S. As this industry is heavily dependent on cloud resources, the cloud analytics market is poised to grow considerably through the forecast period.
The cloud analytics market is segmented on the basis of component [solutions (customer analytics, BI tools, data warehouse modernization, enterprise performance management, governance, risk & compliance, sales & marketing analytics, supply chain analytics, and analytics tools (spatial analytics tools, video analytics tools, text analytics tools, speech analytics tools, and others) and services (support & maintenance, advisory services, and integration services), type (predictive, prescriptive, descriptive, and diagnostic), deployment mode (public, private, and hybrid), industry vertical (BFSI, government & defense, healthcare & life sciences, IT, manufacturing, media & entertainment, retail & consumer goods, telecommunication, education, utilities, and others), and geography. The study also evaluates industry competitors and analyses the market at a country level.
Based on component, the cloud analytics market is classified into solutions and services. In 2021, the solutions segment is expected to command the largest share of the overall cloud analytics market. A surge in adoption of customer analytics and sales & marketing analytics solutions by the companies working across various domains, rising advertising and marketing campaigns through social media platforms, and growing traffic on social networking are some of the key factors driving the growth of this segment.
Based on type, the cloud analytics market is classified into predictive, descriptive, diagnostic, and prescriptive analytics. In 2021, the descriptive analytics segment is expected to command the largest share of the overall cloud analytics market. The rising need for organizations to extract insights from historical data to make sustainable business decisions related to new product launches increases the demand for cloud analytics solutions. However, the predictive analytics segment is expected to grow at the highest CAGR during the forecast period. The growing significance of precise data forecasting and validation to maximize revenue and upsurge in tech-savvy businesses is the key factor promoting the market growth.
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Based on deployment mode, the cloud analytics market is broadly classified into public, private, and hybrid. In 2021, the public cloud segment is expected to command the largest share of the overall cloud analytics market. Growing reliance on public cloud services among SMEs for effective management and rising shift towards work-from-home culture are expected to drive the growth of the cloud analytics market. However, the hybrid cloud segment is expected to grow at the highest CAGR during the forecast period. Hybrid cloud solutions help businesses by providing agility, IT optimization, and scope for innovation with changing business demands.
Based on industry vertical, the cloud analytics market is classified into BFSI, government & defense, healthcare & life sciences, information technology, manufacturing, media & entertainment, retail & consumer goods, telecommunication, education, utilities, and other industry verticals. In 2021, the BFSI industry is expected to command the largest share of the overall cloud analytics market. The large share is mainly attributed to the growing number of fin-tech start-ups demanding cloud-based solutions and the increase in enterprises’ reliability on web-based solutions. Furthermore, the growing inclusion of smart devices, software, and social media in the BFSI industry, giving rise to big data, is expected to drive the growth of the cloud analytics market in the BFSI industry with the fastest CAGR over the forecasted period.
Geographically, North America is expected to command the largest share of the global cloud analytics market in 2021. Substantial investments for modernization and up-gradation of web-based software with innovative connected devices, a strong network of cloud computing technology providers, and high acceptance of cloud analytics services across numerous industry verticals are supporting the regional growth in the cloud analytics market.
However, the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period. Rising need to deploy cloud-based solutions coupled with the growing execution of big data technology, increasing reliance of SMEs on cloud services, growing internet penetration, a growing number of smartphones and connected devices are expected to drive the demand for cloud analytics solutions in the Asia-Pacific region.
The report also includes an extensive assessment of the key strategic developments adopted by the leading market participants in the industry over the past three years (2018–2021). The cloud analytics market has witnessed several partnerships, agreements & collaborations in recent years. For instance, in 2021, Alphabet’s Google Cloud and Vodafone Group (U.K.), one of the leading telecommunication and mobile services providers, entered a strategic partnership to jointly develop data services.
The global cloud analytics market is consolidated and dominated by few major players, namely, Microsoft Corporation (U.S.), IBM Corporation (U.S.), Oracle Corporation (U.S.), Google, LLC (U.S.), SAP SE (Germany), TIBCO Software, Inc. (U.S.), Salesforce.Com (U.S.), SAS Institute, Inc. (U.S.), AWS (U.S.), MicroStrategy (U.S.), Cloudera (U.S.), Alteryx, Inc. (U.S.), Sisense (U.S.), Atos (France), and Qlik (U.S.), among others.
To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/cloud-analytics-market-5208
Scope of the Report
Cloud Analytics Market, by Component
- Solutions
- Customer Analytics
- BI Tools
- Data Warehouse Modernization
- Enterprise Performance Management
- Governance, Risk & Compliance
- Sales & Marketing Analytics
- Supply Chain Analytics
- Analytics Tools
- Spatial Analytics Tools
- Video Analytics Tools
- Text Analytics Tools
- Speech Analytics Tools
- Other Analytics Tools
- Services
- Support & Maintenance
- Advisory Services
- Integration Services
Cloud Analytics Market, By Type
- Descriptive Analytics
- Predictive Analytics
- Diagnostic Analytics
- Prescriptive Analytics
Cloud Analytics Market, by Deployment Mode
- Public Cloud
- Private Cloud
- Hybrid Cloud
Cloud Analytics Market, by Industry Vertical
- BFSI
- Government & Defense
- Healthcare & Life Sciences
- Information Technology
- Manufacturing
- Media & Entertainment
- Retail & Consumer Goods
- Telecommunication
- Education
- Utilities
- Other Industry Verticals
Cloud Analytics Market, by Geography
- North America
-
- U.S.
- Canada
-
- Europe
-
- Germany
- U.K.
- France
- Italy
- Spain
- Sweden
- Denmark
- Rest of Europe
-
- Asia-Pacific
-
- Japan
- China
- India
- South Korea
- Singapore
- Rest of Asia-Pacific
-
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- The Middle East and Africa
- UAE
- South Africa
- Rest of MEA
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Amidst this crisis, Meticulous Research® is continuously assessing the impact of COVID-19 pandemic on various sub-markets and enables global organizations to strategize for the post-COVID-19 world and sustain their growth. Let us know if you would like to assess the impact of COVID-19 on any industry here- https://www.meticulousresearch.com/custom-research
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About Meticulous Research®
Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.
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Artificial Intelligence
Compact Solutions, Mighty Results: Cervoz Unleashes the Power of Edge Computing
TAIPEI, May 20, 2024 /PRNewswire/ — Cervoz Technology, a leader in industrial-grade storage, memory, and expansion solutions, is powering the evolution of edge computing with its innovative solutions.
In today’s data-rich landscape, businesses rely on insights from IoT devices. With advancements in AI and 5G, data volumes surge, straining traditional cloud computing with bandwidth and latency issues. Edge Computing emerges as a solution, processing data at its source for real-time insights crucial for applications like digital twins, autonomous vehicles, and smart healthcare.
What is Edge Computing?
Edge Computing is a decentralized IT architecture that processes data near its origin, often at the network’s edge. This approach divides tasks from central data centers to edge devices and nodes. It enables faster, deeper insights and enhances responsiveness, improving speed and reducing latency compared to centralized clouds. Typically, an Edge Computing system comprises three layers: device, edge, and cloud.
The Device Layer
The device layer, situated closest to the physical world, comprises endpoint devices such as sensors, controllers, and cameras, among others. The layer prioritizes data collection and initial processing for real-time response and efficiency. It requires highly reliable, compact, and energy-efficient components. Cervoz’s M.2 2230 (A+E key /B+M key) NVMe SSDs and DDR4 SO-DIMM modules optimize this setup with fast data access and efficient storage in space-saving designs. They operate reliably across a wide temperature range (-40°C to 85°C) and feature additional conformal coating and anti-vibration filling for enhanced performance in harsh environments.
The Edge Layer
The edge layer, composed of edge servers and gateways, serves as a crucial link between device-layer data sources and cloud-based operations. It is designed for extensive data handling, filtering, and analytics, emphasizing quick operations and real-time responses to minimize reliance on remote data centers. For optimal performance, components must manage high processing loads with minimal latency and maximum stability. NVMe SSDs boasting PCIe Gen3 or higher, such as the Cervoz NVMe PCIe Gen3x4 SSD, with compact M.2 form factors, advanced DRAM cache buffer, and LDPC ECC technology, are perfectly suited for the edge layer. These SSDs enable efficient directory and error correction during high-speed data transfers, thus enhancing data accuracy and reliability.
The Cloud Layer
The cloud layer requires intensive processing and long-term storage, performing analytics, operating AI and machine learning, and managing extensive data systems across various edge locations. It demands high-performing and reliable components. Cervoz NVMe PCIe Gen4x4 SSDs excel with Read/Write speeds of up to 7,100/6,190 MB/s and 4K random IOPS up to 1,000K, with aluminum heatsinks and thermal throttling for overheating issues. DDR5-5600 DRAM boosts this setup with high data throughput and efficient power use, satisfying rigorous computational needs.
Interlayer Connectivity
Reliable, low-latency network connectivity is crucial as data flows between the device layer, edge, and cloud. Cervoz 10GbE Low-Profile Ethernet Card provides high-speed, stable wired connections in high-bandwidth, low-latency environments. Additionally, the new PCIe Compact Low-Profile Ethernet Card is ideal for narrow edge device enclosures. For areas where wiring is impractical, M.2 Wi-Fi cards offer essential wireless flexibility. These connectivity options ensure a solid foundation for seamless data management across all layers.
Cervoz offers comprehensive solutions to enhance edge computing capabilities. From compact NVMe SSDs and DRAM modules, to advanced modular expansion cards, enabling seamless integration, optimized performance, and unmatched reliability in edge computing deployments.
About Cervoz
Based in Taiwan, Cervoz Technology boasts almost twenty years of expertise in developing and providing industrial-grade storage, memory, and expansion solutions across a myriad of global industrial sectors.
ContactsSales: [email protected]
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Team Exponentia.ai UK celebrates Sanjay Kumar’s insightful session at the AWS summit in London
LONDON, May 20, 2024 /PRNewswire/ — Sanjay Kumar, Head of Exponentia.ai in UK & Europe, delivered an impactful presentation on Driving Manufacturing Innovation through AWS Analytics & AI. The recently concluded AWS Summit took place on the 24th of April in ExCeL, London.
Sanjay shared the stage at Theatre B with Adrian Pinder from DS Smith and Ahmed Raafat from AWS, captivating the audience with insights and experiences from Exponentia.ai’s collaboration with DS Smith.
During the session, Sanjay Kumar highlighted Exponentia.ai’s impressive use cases and case studies, including the Data Factory and Procurement Spend Analytics (PSA) projects undertaken in partnership with DS Smith. These initiatives demonstrated Exponentia.ai’s commitment to leveraging the AWS ecosystem to drive operational efficiency and business growth in the manufacturing sector.
The Exponentia.ai team seized the opportunity to engage with industry peers, partners, and friends, while also exploring the latest innovations showcased at the summit. Their participation in various sessions and visits to innovative booths further enriched their understanding of industry trends and best practices.
Reflecting on the event, Sanjay Kumar expressed his enthusiasm, stating, “The AWS Summit in London provided an excellent platform for us to showcase our expertise in manufacturing analytics and AI. The overwhelming response from attendees reaffirms the value of our solutions in driving innovation and transformation across industries and our commitment to deliver value to our customers through data. We look forward to continuing our collaboration with AWS and our partners to deliver impactful outcomes for our clients.”
The AWS Summit London 2024 marked a significant milestone for Exponentia.ai, reinstating its commitment to excellence and innovation in the field of AI and analytics. As the team eagerly anticipates future events, they remain dedicated to empowering businesses with transformative technology solutions.
For more information about Exponentia.ai and its innovative offerings, please visit www.exponentia.ai.
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Providing faster and more accurate answers to critical business questions
LONDON, May 20, 2024 /PRNewswire/ — Clarivate Plc (NYSE: CLVT), a leading global provider of transformative intelligence, launched the first publicly available version of Trademark Watch Analyzer today at the 2024 International Trademark Association Annual Meeting. As the next-generation trademark protection solution enhanced by artificial intelligence (AI) and cloud technology, this solution combines Clarivate global trademark and case law data, in-house IP expertise, and cutting-edge AI technology. It will provide faster and more accurate answers to critical business questions by automating key trademark watching tasks and intelligently prioritizing result sets.
Trademark Watch Analyzer connects users to trademark datasets in 258 countries and territories across 191 official trademark registers, as well as data from 7+ million trademark litigation cases. This content is harmonized and connected through AI algorithms which query, connect and mine both datasets delivering advanced insights in supported watch products. This revolutionizes the way trademark watch results are delivered, so that clients can rank results based on their chance of success/opposition.
According to data from SAEGIS®, a CompuMark™ trademark solution from Clarivate, the number of trademark applications filed globally each year has more than doubled since 2014. With over one million new trademarks added to trademark registers around the world each month, the risk of infringement has never been greater, making vigilance of trademark applications essential to protect and grow strong brands.
Gordon Samson, President, Intellectual Property, Clarivate, said: “As the global business landscape grows more complex, trademark professionals are faced with challenges including more data, less context and shorter deadlines. Our advanced AI-driven solution enables clients to confidently monitor their trademarks anywhere in the world, with global monitoring and automated alerts, while also saving time, costs and critical resources. The launch of the Trademark Watch Analyzer is the latest example of our Think forward™ promise — connecting clients to trusted intelligence to ensure an IP-empowered tomorrow.”
With a more intuitive design and user interface, Trademark Watch Analyzer will enable clients to have a much-improved user experience as they work with their results. The navigation will be based on the same architecture as the Brand Landscape Analyzer launched in 2023, providing clients with a more cohesive experience within the Clarivate product suite.
Find out more about Trademark Watch Analyzer here.
About ClarivateClarivate™ is a leading global provider of transformative intelligence. We offer enriched data, insights & analytics, workflow solutions and expert services in the areas of Academia & Government, Intellectual Property and Life Sciences & Healthcare. For more information, please visit www.clarivate.com
Media Contact: Jack Wan, External Communications Director [email protected]
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