Artificial Intelligence
Enterprise Information Archiving Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)
New York, Sept. 06, 2021 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Enterprise Information Archiving Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)” – https://www.reportlinker.com/p06134969/?utm_source=GNW
51% over the forecast period (2021-2026).
The growth of enterprise information archiving solutions is attributed to the rising generation of data across organizations, assigned to the widespread geographical presence and customer base. Factors such as reduced storage costs for the enterprise information archiving and government mandates to store enterprise information for audit and investigation purposes are further driving the market growth.
Estimations put that the data generated by enterprises, mainly include unstructured data, approximated in the range of 70% to 80%, and only 30% to 20% of the data is structured. Data comes in various formats, from structured, numeric data in traditional databases to unstructured text documents, videos, audio, emails, stock ticker data, and financial transactions. Enterprise information archive stores all kind of data in archive storage and make it accessible when required. Organizations are also positioning themselves to extract more value, intelligence, and utility from the data within their archive.
Also, according to Cisco, the volume of Big Data in data center storage is anticipated to increase to 403 exabytes by 2021 from 179 exabytes in 2019. Moreover, the increasing usage of the cloud has further supported data generation across end-user verticals. Information archiving solutions leverage public and private cloud platforms in order to offer organizations the much-needed agility and scalability, with lower costs. Therefore, the players in the market are increasingly offering cloud-based solutions to manage data. For instance, the Barracuda Essentials cloud-based service makes e-mail safe for businesses, with advanced threat protection, tamper-proof archiving, and data protection.
Furthermore, several regulatory standards have been designed and developed by governments for company compliance. Regulations often mandate that electronic data such as email and social media needs to be stored in a secure, tamper-proof format. High-quality archiving solutions have advanced search and legal hold features that allow secure eDiscovery and compliance with various laws and regulations in regulated industries and beyond. They ensure easy policy management and allow storage in mandated WORM formats.
With the outbreak of COVID-19, the market is likely to grow as the total volume of data in the world is growing at a fast pace. According to Seagate Technology PLC, the volume of data is expected to reach 149 zettabytes by 2024 from 26 zettabytes in 2017. Moreover, enterprises across the globe are adopting technical solutions as part of their digitalization process. Hence augmenting the market growth.
Key Market Trends
BFSI to Hold the Highest Market Growth
The BFSI industry has been focusing on going paperless, thereby shifting towards the digital mode for its operations. With the increasing enhancements in internet coverage across the globe, banks and other financial institutions are increasingly shifting to online mode.
This increasing digital transition in the sector has led to an enormous digital data creation that includes confidential customer credentials, process information, and transaction data. The proper management, handling, monitoring, and sharing of this huge data takes a lot of effort and time and eventually affects productivity. The management of this crucial data and its security has gained utmost importance, as a compromise in this data could have an irreversible impact on the organization’s value.
The BFSI sector is rapidly moving towards digitization in order to secure more customers and reach more potential consumers. The current FinTech era features changes in the market landscape, new regulations, and shifts in consumer behaviors. Currently, the customers demand user-friendly experiences, easy-to-understand products, transparency, and access to products and information.
Moreover, a recent Finastra survey showcased that corporate banking clients are shifting their focus towards real-time execution capabilities, access to online platforms, and value-added services. In response, the banks have moved away from the traditional relationship management model towards a digital platform that can meet the client’s needs faster, flexibly, and in a more agile manner.
Financial organizations are required to follow archiving regulations for various sets of data. For instance, in the United States, FINRA 10-06 regulation mandated financial organizations to retain social media communication records. FINRA 11-39 regulation mandated retaining, supervising, and retrieving business communications, whether they are conducted from office or personal devices.
Furthermore, Remote working has increased substantially, which has benefited EFSS during the pandemic. System workloads and active users have increased by up to 100% during the COVID-19 crisis. The EFSS segment is expected to witness significant growth considering the present situation in place and gain traction among various, including the Healthcare, BFSI, and Manufacturing sectors. The segment is already being intensively used in the IT sector, and it is expected to grow further over the years.
North America to Hold Highest Market Share
North America holds the highest market share. The region is an early adopter of the latest technological advancements, such as integration technologies with Artificial Intelligence (AI), cloud, and mobile technologies within traditional enterprise information archiving solutions. Moreover, the region has a stronghold of the enterprise information archiving vendors such as Google LLC, Microsoft Corporation, IBM Corporation, Dell, Veritas Technologies LLC, Barracuda Networks Inc., Proofpoint Inc., Smarsh Inc., etc.
The presence of rigorous government standards and regulations framed for various industries regarding the archive of data is the primary growth driver for this region, thereby fuelling market growth. For instance, FINRA 10-06, say financial firms must retain records of all social media communications, Sarbanes-Oxley Act, that says Public companies must save all business records, including electronic records and messages, for no less than five years.
Moreover, the rising adoption of cloud in the region is further boosting the market growth. Further, players in the region are adopting strategic partnerships to increase their market presence. For instance, In Jun 2020, Commvault, a global enterprise software company in the management of data across cloud and on-premises environments, entered into a multi-year agreement with Microsoft. The partnership tightly integrates go-to-market, engineering, and sales of Commvault’s Metallic Software-as-a-Service (SaaS) data protection portfolio with Microsoft Azure to deliver ultimate scale and trusted security with simple SaaS management.
Competitive Landscape
In the market studied, the competitive rivalry between various firms is dependent on pricing, functionalities solution capabilities, or market share, along with the intensity with which they compete in the market.
Major companies have a strong influence on the market in terms of consolidation activities. Conversely, the market can be characterized by high levels of market penetration, along with increasing levels of fragmentation.
Sustainable competitive advantage can be gained through innovation. Market incumbents have been adopting powerful competitive strategies based on product differentiation, market expansion, among other activities.
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Artificial Intelligence
Complyport’s new AI tool – ViCA.Chat – set to revolutionise compliance support services
LONDON, June 14, 2024 /PRNewswire/ — ViCA.Chat, the Virtual Compliance Assistant powered by AI technology, is set to transform regulatory compliance consulting. Developed by ComplyMAP Group’s AI engineers and Complyport’s compliance consulting teams, ViCA redefines compliance support services and propels governance, risk and compliance consulting into a new era of innovation.
Offering real-time assistance across a vast array of UK and EU regulatory frameworks, ViCA delivers unparalleled efficiency, detail and precision in disentangling and dealing with complicated regulatory frameworks.
The key differentiator of ViCA is its specialised and purposely constructed unique databases that leverage Complyport’s 22 years of regulatory expertise, combined with tailored AI training tools, enabling ViCA to operate as an experienced compliance consultant. A dedicated human support team continuously improves and updates ViCA’s knowledge and responses through a feedback loop process and quality assurance sessions. This powerful symbiosis of AI and human expertise sets ViCA apart and ensures businesses have the latest regulatory information instantaneously and seamlessly.
As a result, ViCA’s specialised regulatory database goes beyond readily available online resources which feature into traditional AI tools. ViCA offers exclusive insights, proprietary regulatory interpretations, historical data, bespoke and purposely structured compliance documentation and templates. With advanced scraping capabilities, ViCA also extracts relevant data from selected websites and publicly available information, ensuring an up-to-date and comprehensive understanding of compliance requirements across industries.
From agile fintech startups to established law firms, financial institutions, regulatory bodies, insurance providers, as well as compliance consultants, ViCA seamlessly adapts to unique compliance needs. Its user-friendly interface ensures navigating and analysing regulatory data is swift and intuitive, streamlining the compliance workflow.
“ViCA is a game-changer in how regulatory compliance advice will be provided in the future”, commented Luis Parra, Managing Director of ViCA. “With ViCA, compliance insights become available to all. No longer are regulated firms and responsible people overly dependent on advisors and compliance consultants. Through ViCA, the financial system will not only meet but exceed regulatory standards. Moreover, the level of information made available to the public will benefit society as a whole, in its interactions with the financial services sector.”
Among ViCA’s revolutionary features is its cost-effective model, allowing businesses to significantly reduce reliance on traditional spending with external consultants and advisors.
Visit ViCA.Chat to experience the future of compliance support.
Contact:
Name: Luis ParraTitle: Managing DirectorCompany: Vica.ChatTelephone: +44 20 7399 4980 Email: [email protected]
About ViCA.Chat:
ViCA.Chat is a revolutionary Virtual Compliance Assistant powered by cutting-edge AI technology, designed to demystify the complexities of regulatory compliance. Utilising Complyport’s 22 years of regulatory expertise, ViCA offers real-time assistance and guidance across a wide range of regulatory frameworks, setting a new standard for efficiency and precision in compliance support. From fintech start-ups to established law firms, financial services institutions, regulators, regulatory firms, compliance consultants and insurance firms, ViCA caters to the diverse needs of professionals across all levels in the broader UK financial services sector.
Visit ViCA.Chat to learn more.
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Artificial Intelligence
LoRa and LoRaWAN IoT Market worth $32.7 billion by 2029- Exclusive Report by MarketsandMarkets™
CHICAGO, June 14, 2024 /PRNewswire/ — The LoRa and LoRaWAN IoT Market is expected to reach USD 32.7 billion by 2029 from USD 8.0 billion in 2024, at a Compound Annual Growth Rate (CAGR) of 32.4 % during 2024–2029, according to a new report by MarketsandMarkets™.
Browse in-depth TOC on “LoRa and LoRaWAN IoT Market”
320 – Tables 58 – Figures294 – Pages
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Scope of the Report
Report Metrics
Details
Market size available for years
2018-2029
Base year considered
2023
Forecast period
2024–2029
Forecast units
Value (USD Billion)
Segments Covered
Offering, Network Deployment, Application, End User, and Region
Region covered
North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
List of Companies in LoRa and LoRaWAN IoT
The Bosch Group (Germany), Cisco (US), Orange SA (France), Comcast Corporation (US), Semtech (US), NEC Corporation(Japan), Tata Communications (India), AWS (US), Advantech (Taiwan), SK Telecom (South Korea), Murata (Japan), Kerlink (France), Actility (France), Digi International (US), MultiTech (US), Ezurio (US), Sensoterra (Netherlands), Nwave Technologies (US), RAKwireless (China), TheThings.io (Spain), Datacake (Germany), Milesight (China), LORIOT (Switzerland), Exosite (US), Orbiwise (Switzerland), Netmore Group (Sweden), and Radio Bridge Inc (US).
The LoRaWAN ecosystem influences development of tools, software libraries, and cloud-based platforms that streamline the creation, deployment, and management of IoT solutions. Continuously evolving, this ecosystem boasts a burgeoning array of vendors providing LoRa-compliant devices, gateways, and network management solutions. This vibrant competition within the ecosystem propels innovation while driving down costs for end-users. Moreover, the development of interoperable solutions fosters seamless integration and deployment of LoRaWAN networks, simplifying the implementation process for businesses and organizations. As the ecosystem continues to expand and mature, it empowers developers, system integrators, and IoT enthusiasts to unleash their creativity, accelerate time-to-market, and unlock the full potential of LoRaWAN technology in diverse applications and industries.
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Based on network deployment, the public network segment to hold the largest market size during the forecast period.
The robust security features integrated into public LoRaWAN networks play a significant role in driving the growth and adoption of LoRaWAN technology in the market. End-to-end encryption ensures that data transmitted between devices and gateways is protected from unauthorized access or interception, safeguarding sensitive information such as sensor readings, location data, and command messages. Message integrity checks verify the integrity of data packets, detecting any tampering or alteration during transmission and ensuring data authenticity and reliability. Additionally, mutual authentication mechanisms establish trust between devices and gateways, verifying the identity of both parties before allowing communication to occur. These security measures provide organizations and end-users with confidence in the integrity and confidentiality of their data, mitigating concerns related to data privacy, cybersecurity threats, and regulatory compliance. As a result, implementing robust security features in public LoRaWAN networks enhances trust and credibility in the technology, driving increased adoption and market growth as organizations seek reliable and secure connectivity solutions for their IoT deployments.
By offering, the services segment is expected to hold a higher growth rate during the forecast period.
IoT service providers are pivotal in driving adoption by developing vertical-specific solutions finely tuned to the distinct needs of industries like agriculture, healthcare, logistics, and smart cities. In agriculture, for instance, IoT services offer solutions for precision farming, crop monitoring, and livestock management, enabling farmers to optimize irrigation, monitor soil health, and enhance yields. Similarly, IoT services facilitate remote patient monitoring, asset tracking, and inventory management in healthcare, improving patient care, reducing costs, and ensuring compliance with regulatory standards such as HIPAA. In logistics, IoT services provide real-time tracking of shipments, fleet management, and predictive maintenance, enhancing supply chain visibility, efficiency, and reliability. For smart cities, IoT services offer solutions for traffic management, waste management, energy optimization, and public safety, transforming urban infrastructure and enhancing the quality of life for residents. By addressing industry-specific challenges, compliance requirements, and use cases, vertical-specific IoT solutions deliver tangible business value, driving adoption and fueling the growth of the IoT services market across diverse sectors.
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Asia Pacific is expected to hold a higher growth rate during the forecast period.
In the Asia Pacific region, where agriculture serves as a cornerstone of many economies, adopting IoT technologies, particularly LoRa and LoRaWAN, is revolutionizing traditional farming practices. LoRaWAN’s long-range connectivity and low-power consumption make it well-suited for deployment in rural agricultural settings, where access to reliable connectivity may be limited. Through LoRa-based IoT solutions, farmers can implement precision agriculture techniques to address pressing challenges such as water scarcity, soil degradation, and unpredictable weather patterns. LoRa-enabled sensors facilitate real-time monitoring of soil moisture levels, temperature, and humidity, allowing farmers to optimize irrigation schedules and conserve water resources. Remote sensing technologies powered by LoRaWAN enable farmers to gather actionable insights on crop health, pest infestations, and nutrient deficiencies, facilitating timely interventions and improving overall crop management practices. Furthermore, LoRa-based crop analytics platforms provide farmers with data-driven decision support tools, helping them optimize planting strategies, improve yield forecasting, and mitigate the impact of climate change on agricultural productivity. By harnessing the power of LoRa and LoRaWAN IoT solutions, farmers in the Asia Pacific region can increase yields, conserve resources, and enhance resilience to environmental challenges, driving the adoption and growth of the LoRaWAN IoT market in the agricultural sector.
Top Key Companies in LoRa and LoRaWAN IoT Market:
The major vendors covered in the LoRa and LoRaWAN IoT Market are The Bosch Group (Germany), Cisco (US), Orange SA (France), Comcast Corporation (US), Semtech (US), NEC Corporation(Japan), Tata Communications (India), AWS (US), Advantech (Taiwan), SK Telecom (South Korea), Murata (Japan), Kerlink (France), Actility (France), Digi International (US), MultiTech (US), Ezurio (US), Sensoterra (Netherlands), Nwave Technologies (US), RAKwireless (China), TheThings.io (Spain), Datacake (Germany), Milesight (China), LORIOT (Switzerland), Exosite (US), Orbiwise (Switzerland), Netmore Group (Sweden), and Radio Bridge Inc (US). These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches, enhancements, and acquisitions to expand their footprint in the LoRa and LoRaWAN IoT Market.
Browse Adjacent Markets: Digitalization and Internet of Things (IoT) Market Research Reports & Consulting
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About MarketsandMarkets™
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MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
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The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
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Artificial Intelligence
Scoring a Seat at UEFA EURO 2024™ with Top-Performing AI-Powered TOSHIBA TV Lineup
HONG KONG, June 14, 2024 /PRNewswire/ — Football fans are in for a treat as they gear up for UEFA EURO 2024™ with Toshiba TV’s top-performing Gaming TV Z670. As the OFFICIAL TV OF UEFA EURO 2024™, Toshiba TVs present immersive viewing of the football game by their AI-powered TV lineup. To celebrate the brilliant moments it can bring, Toshiba TV are gifting USD100 Amazon Gift Card via their social platform! By simply like, follow and comment on @ToshibaTVGlobal, fans can boost their chances of scoring this prize.
Optimized Visuals Tailored for Football Dynamics
The Toshiba REGZA Engine ZRi in Z670 transports football fans into the heart of the action. With the AI Football Mode, they’ll be able to see fast-moving objects crystal clear and football field actions much enriched. To see their favourite player score that winning goal, the AI Picture Optimizer automatically adjusts visual contrast and precision adapted to the game. From vivid green fields and vibrant player kits, every play comes to life with AI 4K Upscaling and Quantum Dot Color, transforming lower-resolution broadcasts into near-4K quality and unleashing lifelike visual color.
Powerful Audio Effects for a Live Stadium Experience
The Toshiba TV Z670’s powerful audio system makes viewers feel like they’re right in the game. With the REGZA Bass Woofer Pro, Tru Bass Booster, and Dolby Atmos, they’ll experience heart-thumping 3D surround sound that captures the live stadium atmosphere. Whether it’s the roar of the crowd or the intensity of each play, the rich audio brings the excitement of each game right into their room.
Bringing Everyone Together for UEFA EURO 2024™
Available in sizes ranging from 55″ to 85″, Z670 is equipped with a Wide Viewing Angle and Anti-reflection features that ensures a clear picture from all viewing positions with the non-glare panel. Gather everyone for “Brilliant Every Moment” in UEFA EURO 2024™ with Toshiba TV!
Please find the high-resolution TVC here: Link
About Toshiba TV:
With 70+ years of history in TV production, Toshiba TV is known for its exquisite craftsmanship, innovative ideas and groundbreaking inventions. By prioritizing superior image quality and auditory experiences, Toshiba TV sets new standards in entertainment. Toshiba TV stems from the excellence quest of customers, providing the world with responsible products to make the world a better place. Emphasizing attention to product details and technological advancement, Toshiba TV integrates aesthetically pleasing design, quality assurance, and brand reputation to underscore its commitment to authenticity in the actual world and a sincere dedication to its consumers, showcasing Toshiba TV’s long-standing design philosophy and continuous pursuit of product quality.
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