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Artificial Intelligence

Online Gambling Market Size is projected to reach USD 153 Billion by 2030, growing at a CAGR of 11.7%: Straits Research

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New York, United States, Sept. 08, 2022 (GLOBE NEWSWIRE) — The widespread availability of low-cost mobile applications for online gaming and betting is anticipated to drive market expansion throughout the forecast period. In addition, increasing internet penetration is expected to increase the use of online gaming platforms worldwide. This is leading to a rise in global investments in online gambling platforms and the number of live casinos. In addition, the growing popularity of the freemium business model is anticipated to fuel market expansion throughout the forecast period.

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Increased Investments in Online Gambling Propels the Market Forward

The expanding demand for cost-effective payment solutions is partly responsible for the increasing investments in the online gaming industry. The development of virtual reality and augmented reality is an additional key factor supporting investments in online gaming. Professional gamers are compelled to invest in sports betting and the stocks of some of the leading online gambling organizations due to the vast investment potential available on the market. Diverse new entrants and investors are reaching out to operators, suppliers, regulators, and industry-focused legal/financial consultants in the online gaming business.

Continuous technical advances also contribute significantly to industry expansion. The most significant innovations include business models like virtual currency and social casinos, game styles such as in-play sports betting, and mobile geolocation. There are investments in facial recognition software based on artificial intelligence and cryptocurrencies. In addition, market participants’ growing preference for Virtual Reality (VR) to deliver a realistic gaming experience will favorably impact the market sector. In 2021, for example, the major sports betting and gaming entertainment company Entain introduced the first VR-based multisport entertainment. This new offering was created by the corporation in partnership with Verizon Media.

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Sponsorships and Convenient Payment Options Create Untapped Growth Potential

The increasing prevalence of mobile and online payment gateways has made payment choices easier for customers and online gamers. The gaming industry accepts online payment as a safe and secure transaction method. This element contributes to the expansion of the online gaming market. The internet betting section is growing in tandem with the online sports category, particularly for football competitions such as the FIFA World Cup and the European Championships. As part of their marketing operations, many online sports betting organizations sponsor other teams by acquiring or combining with many companies for strategic expansions.

DraftKings Inc. and Golden Nugget Online Gaming Inc. signed a definitive agreement for DraftKings to buy Golden Nugget Online Gaming in August 2021. DraftKings was able to capitalize on Golden Nugget’s (iGaming) product experience and more than 5 million user database through the acquisition.

Report Scope

Report Metric Details
Market Size USD 153 Billion by 2030
CAGR 11.7% (2022-2030)
Historical Data 2019-2020
Base Year 2021
Forecast Period 2022-2030
Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered Type, Device, Regions
Geographies Covered North America, Europe, Asia-Pacific, LAME and Rest of the World
Key Companies Profiled/Vendors Bet365 Group Ltd, Betsson AB, GVC Holdings PLC (Entain plc), Kindred Group PLC, Ladbrokes Coral Group plc, Paddy Power Betfair plc (Flutter Entertainment), Sky Betting & Gaming, 888 Group, Stars Group Inc. (Flutter Entertainment), William Hill PLC 91.
Key Market Opportunities Sponsorships and Convenient Payment Options
Key Market Drivers Increased Investment in Online Gambling

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Regional Insights

Europe accounts for the largest market share and is estimated to grow at a CAGR of 12% over the forecast period. Multiple European nations, including Italy, Malta, France, Spain, and Germany, have legalized gambling, contributing to this development. The availability of high-speed internet, the rising popularity of online casinos, and the expanding use of smartphones are other market growth drivers. In addition, the Gaming Act of 2005 imposed by the UKGC (U.K. Gambling Commission) has made it possible for enterprises to promote their gambling websites, which helps to increase the regional market.

Asia-Pacific is estimated to account for USD 50 billion by 2030, growing at a CAGR of 12.8%. The growth is attributable to the rising usage of internet services and the relaxation of regulations governing online gaming and betting. The growing popularity of Esports and other sporting events has also fueled the market. Due to technological developments in the gaming sector, high-speed networks, and accessible and affordable internet data, India and China are entering the market. Furthermore, the use of cryptocurrencies for gaming has expanded due to the popularity of bitcoins. The strong economic growth and rising spending on leisure activities will also likely drive the market.

North America is the third largest region. Only bookmakers with licenses from Nevada, Pennsylvania, or New Jersey can operate lawfully under the current online gambling legislation in the United States because these are the only three states with online gambling regulations. The biggest and fourth-largest state to authorize and control online gambling is Pennsylvania. New Jersey has many internet casinos, sportsbooks, and sports betting applications. The Division of Gaming Enforcement in New Jersey supervises and controls the state’s online gaming platforms. It manages site licensing, tax revenue collection, and the testing and approval of games. The biggest market in the US for legalized internet gambling is New Jersey. In terms of online gambling, Canada is mostly uncontrolled. Simultaneously, Mexico evaluates its gambling regulations to harmonize them with the country’s overall gambling industry. Therefore, it is anticipated that the market will continue to grow as online gambling becomes more mainstream in North America.

Key Highlights

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  • The global online gambling market size was valued at USD 57 billion in 2021. It is estimated to reach USD 153 billion by 2030, growing at a CAGR of 11.7% during the forecast period (2022–2030). 
  • Type-wise, the global online gambling market is segmented into Sports Betting, Casinos, Poker, Bingo, and Others. The Sports Betting segment accounts for the largest market share and is estimated to grow at a CAGR of 12.5% over the forecast period.
  • Device-wise, the global online gambling market is segmented into Desktop, Mobile, and Others. The Desktop segment accounts for the largest market share and is estimated to grow at a CAGR of 11.4% over the forecast period.

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Key players in the global online gambling market are

  • Bet365 Group Ltd
  • Betsson AB
  • GVC Holdings PLC (Entain plc)
  • Kindred Group PLC
  • Ladbrokes Coral Group plc
  • Paddy Power Betfair plc (Flutter Entertainment)
  • Sky Betting & Gaming, 888 Group
  • Stars Group Inc. (Flutter Entertainment)
  • William Hill PLC 91.

Global Online Gambling Market: Segmentation

By Type

  • Sports Betting
  • Casinos
  • Poker
  • Bingo
  • Others

By Device

  • Desktop
  • Mobile
  • Others

By Regions

  • North America
  • Europe
  • Asia-Pacific
  • South America
  • The Middle East and Africa

TABLE OF CONTENT

  1. Introduction
    1. Market Definition
    2. Market Scope
  2. Research Methodology
    1. Primary Research
    2. Research Methodology
    3. Assumptions & Exclusions
    4. Secondary Data Sources
  3. Market Overview
    1. Report Segmentation & Scope
    2. Value Chain Analysis: Online Gambling Market
    3. Key Market Trends
      1. Drivers
      2. Restraints
      3. Opportunities
    4. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitution
      4. Threat of New Entrants
      5. Competitive Rivalry
    5. Market Share Analysis
  4. Type Overview
    1. Introduction
      1. Market Size & Forecast
    2. Sports Betting
      1. Market Size & Forecast
    3. Casinos
      1. Market Size & Forecast
  5. Device Overview
    1. Introduction
      1. Market Size & Forecast
    2. Desktop
      1. Market Size & Forecast
    3. Mobile
      1. Market Size & Forecast
  6. Regional Overview
    1. Introduction
      1. Market Size & Forecast
    2. America
      1. North America
      2. U.S.
        1. By Type
        2. By Device
      3. Canada
        1. By Type
        2. By Device
      4. Mexico
        1. By Type
        2. By Device
      5. Latin America
        1. By Type
        2. By Device
    3. Europe
      1. Market Size & Forecast
      2. Germany
        1. By Type
        2. By Device
      3. France
        1. By Type
        2. By Device
      4. U.K.
        1. By Type
        2. By Device
      5. Italy
        1. By Type
        2. By Device
      6. Spain
        1. By Type
        2. By Device
      7. Rest of Europe
        1. By Type
        2. By Device
    4. Asia Pacific
      1. Market Size & Forecast
      2. Japan
        1. By Type
        2. By Device
      3. China
        1. By Type
        2. By Device
      4. Australia
        1. By Type
        2. By Device
      5. India
        1. By Type
        2. By Device
      6. South Korea
        1. By Type
        2. By Device
      7. Rest of Asia-Pacific
        1. By Type
        2. By Device
    5. Middle East & Africa
      1. Market Size & Forecast
      2. Saudi Arabia
        1. By Type
        2. By Device
      3. South Africa
        1. By Type
        2. By Device
      4. Kuwait
        1. By Type
        2. By Device
      5. Rest of Middle East & Africa
        1. By Type
        2. By Device
  7. Company Profile
    1. Bet365 Group Ltd
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
    2. Betsson AB
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
    3. VGC Holdings PLC (Entain plc)
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
  8. Conclusion & Recommendation
  9. Acronyms & Abbreviations

Table of Content and Figure @ https://straitsresearch.com/report/online-gambling-market/toc

Market News

  • In August 2022, Entain plc (LSE: ENT), the global sports-betting, gaming, and interactive entertainment group (“Entain” or “the Group”), partnered with EMMA Capital (“EMMA”), a leading investment firm in the Czech Republic, to establish a new venture (“Entain CEE”) to drive expansion in Central and Eastern Europe (“CEE”). Entain will own 75% of Entain CEE’s economic rights. EMMA will sell the SuperSport Group (“SuperSport”) to Entain CEE. SuperSport is Croatia’s top gaming and sportsbook operator (the “Acquisition”).
  • In June 2022, BetMGM, a prominent sports betting and iGaming operator, announced a partnership with Sony Pictures Television and International Game Technology PLC (“IGT”) (NYSE: IGT) to create Wheel of Fortune Casino, which will be the first brand-led online casino in North America. The legendary American game show Wheel of Fortune is ready for its landmark 40th season. Over the past 25 years, more than 250 variations of Wheel of Fortune slot games have been released, and this online debut of Wheel of Fortune Casino will be the latest gaming extension for the brand.

News Media

The Wealth Expansion in the APAC Region Has Bolstered the Growth of the Global Online Gambling Market

Live Events to Drive a Prominent Share of Secondary Ticket Sales in Europe

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Have a Look at the Related Research Report

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About Straits Research Pvt. Ltd.

StraitsResearch is a market intelligence company providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision-makers. Straits Research Pvt. Ltd. provides actionable market research data, especially designed and presented for decision making and ROI.

Whether you are looking at business sectors in the next town or crosswise over continents, we understand the significance of being acquainted with the client’s purchase. We overcome our clients’ issues by recognizing and deciphering the target group and generating leads with utmost precision. We seek to collaborate with our clients to deliver a broad spectrum of results through a blend of market and business research approaches.

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Artificial Intelligence

High tech specs and adapted World Cup pitch sensors awarded share of £1.5m as finalists in Longitude Prize on Dementia

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AI glasses that help people living with dementia navigate their environment and a smartwatch that learns daily routines to assist in everyday tasks are among five groundbreaking technologies announced as finalists in The Longitude Prize on DementiaThe Longitude Prize on Dementia is a £4.4m prize funded by Alzheimer’s Society and Innovate UK and delivered by Challenge WorksThe prize is driving the creation of AI-based assistive technologies that can help people living with dementia maintain their independence for longerThe five finalists will share £1.5m to develop their solutions in pursuit of the £1m first prize to be awarded in 2026LONDON, Oct. 8, 2024 /PRNewswire/ — State of the art AI glasses to help people with dementia navigate their environment and a smartwatch that learns daily routines are among five groundbreaking technologies awarded £300,000 as a finalist in the £4.4m Longitude Prize on Dementia.

It is rewarding the creation of new assistive technologies that use AI to transform how people live with dementia after a diagnosis so that they can maintain their independence for as long as possible.
The global challenge prize is funded by Alzheimer’s Society and Innovate UK and delivered by Challenge Works (part of Nesta).
One in three people born in the UK today will develop dementia in their lifetime, with around a million people in the UK living with a form of dementia now. This is projected to rise to 1.4 million people by 2040.
The five finalists, who were announced today in the UK on BBC One’s The One Show, will each receive £300,000 to develop their technologies in the next 15 months. The finalists are:
High-tech glasses that help users recognise objects and people – the technology helps people living with dementia to recognise objects and people and remember what to say or do to improve memory recall. This will help them to carry out daily activities independently, such as making a cup of tea or greeting a loved one. The glasses, which also work with existing prescriptions, aim to delay the progression of memory loss and use synaesthesia – associating senses such as sights and sounds (CrossSense, Animorph, UK).Football pitch sensor technology applied to predict and prevent falls – existing ‘fall’ technology can only inform caregivers once an accident has happened, this groundbreaking update will use the technology that maps how a football moves on a pitch (Ultra Wideband) to establish when falls are likely to happen and ultimately prevent them. This tech, worn in the form of a smartwatch designed for older people, could anticipate slips at certain points in a daily routine (e.g. before bed) or in certain locations (e.g. the bathroom). By detecting and calculating fall risk, the tech could limit risk of hospital admission which can speed dementia symptom progression (Theora 360, Clairvoyant Networks, Inc, USA).A smartwatch-based app to provide guidance on daily routines – this AI software processes data from a smartwatch and sensors around the home to learn about its users’ activities and gently guide them on their routines, reminding them of actions they may have forgotten through personalised cues such as illustrations (eg an open fridge or running tap), text, audio and vibrations. If they are not responsive, it will alert a carer. The software will become more intensive as a person’s dementia progresses, helping them to stay in their own home and community for longer (AUTONOMOUS, Associação Fraunhofer Portugal Research, Portugal).At-home monitoring-box that protects privacy – when a loved one is in the early stages of dementia and is still able to live independently, family members can sometimes worry about their wellbeing. This ‘sensor’ box and automated messaging system scans rooms to help remotely inform family members of the loved one’s wellbeing via WhatsApp or text message (e.g. your mum is up and about and the heating came on at the usual time this morning). This provides reassurance for both family member and user, but unlike existing monitoring technology, doesn’t use cameras or wearables, connecting caregivers without infringing on privacy (Supersense Technologies, UK).Home assistance device resembling a traditional telephone – this familiar-looking device offers a screen for video calls which can also display personalised reminders of daily activities. The phone connects users to a reassuring voice-recording of their choice that shares prompts on daily activities and displays images of items in that person’s house. It also makes video-calling loved ones as easy as picking up the phone, to empower people living with dementia to do things they love that bring meaning (MemoryAid, The MARCS Institute, Western Sydney University, Australia).Dr James Brown, CEO of Supersense Technologies said: “A few years ago, I was volunteering with a charity supporting people who had just received a dementia diagnosis. At almost every house we visited there would be a drawer full of unused gadgets – fall-detection watches or pendants, AI speakers – great tech but clearly not being used by the people it was designed for.
“As an engineer and researcher with a decade of experience in developing sensor technology, I knew that there was far better, unintrusive technology that could help people with dementia or mild cognitive impairment to live safely in their own homes for longer, and to help families know that their loved one is safe and well. Our system is specifically designed to maintain a person’s privacy and autonomy, while identifying new behavioural patterns as soon as they develop, so that loved ones or carers can provide support at the right time, all with the aim of helping people to stay independent in their homes for longer.”
Kate Lee, CEO of Alzheimer’s Society said: “Currently, around one million people in the UK live with dementia, a figure projected to rise to 1.4 million by 2040. AI presents exciting opportunities to help those with dementia stay active and independent, enabling them to remain in their own homes for as long as possible. By harnessing the power of technology, we can support memory recall and assist individuals in maintaining their daily routines. The five finalists of the Longitude Prize on Dementia are tackling these challenges in innovative and diverse ways. I look forward to seeing how their technologies evolve over the next year.”
Dr Jennifer Bute was diagnosed with young-onset Alzheimer’s disease in 2009 at the age of 63, leading to her retiring early from her career as a GP. She adds: “Research suggests that remaining independent, whether in your own home or a place where extra help is available, is one of the best contributors to slowing the progression of Alzheimer’s disease. As a daily user of technology to help manage my finances, medications – even my home lighting – it’s really encouraging to see the breadth of new tools and services being developed to support independent living.”
Tris Dyson, Managing Director at Challenge Works said: “The Longitude Prize on Dementia was launched to help meet the urgent need for intuitive, AI technologies that could support independent living for people with dementia. Last year we saw some incredible ideas come through the 24 semi-finalist entries and it was a challenge for the judges to select the five finalists announced today. This announcement proves the critical role innovation, and challenge prizes, have to play in helping to solve some of the biggest challenges of our time.”
Stella Peace, interim Executive Chair, Innovate UK said: “Dementia’s impact is devastating for those who develop the condition and for their loved ones. There is much we can do to ensure that those with dementia continue to live fulfilling lives. Technology has a great role to play and the projects for which we have announced funding today have the potential to truly change lives for the better.”
In addition to the financial reward, non-financial support has been funded to provide innovators with crucial insight and expertise until the end of 2025. The support includes access to potential product users, mentorship, and expert advice on technical and business aspects of the innovation to ensure products are scalable. It will also facilitate knowledge sharing between participants. All teams will be working with people with lived experience to ensure solutions are fully co-created.
In early 2026, one winner will receive a prize pot of £1 million, following a judging process with the international Judging Panel and Lived Experience Advisory Panel. For more information on the finalists and prize, please visit dementia.longitudeprize.org.
 
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Thundercomm Launches RUBIK Pi on Qualcomm Platforms

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Making Application Development with AI Inference More Accessible
AUSTIN, Texas, Oct. 8, 2024 /PRNewswire/ — Embedded World — At an industry event in Austin today, Thundercomm announces RUBIK Pi, the first Pi built on Qualcomm® SoC platforms for developers. RUBIK Pi is an innovative tool that aims to lower the barriers application development with AI inference, allowing developers to access high-performance, easy-to-deploy AI R&D tools

The Pi product is a must-have for electronics enthusiasts and developers. It can be seen as a microcomputer, integrating a processor, memory, storage, and various interfaces on a credit card-sized board. Thundercomm, a world-leading IoT product and solution provider, building on its expertise in ICT technologies and developer workflows, launched RUBIK Pi, aiming to create the most user-friendly AI R&D tools.
RUBIK Pi utilizes the Qualcomm® QCS6490 processor, delivering 12.5 TOPS of AI inference performance and support for a 1.8 billion-parameter LLM. With Qualcomm® AI Hub, developers can explore cutting-edge tools that allow developer to download pre-optimized AI models or optimize their custom model to get the best performance from the SoC
RUBIK Pi supports Qualcomm® Linux®, Android, and Windows, ensuring broad operating system compatibility. It also features upward compatibility with Thundercomm’s C8550 SOM and downward compatibility with the C5430P SOM, providing robust scalability for developers.
“We’re excited to see Thundercomm launch RUBIK Pi. It’s the first Pi product built on the Qualcomm® SoC platform, supporting Qualcomm® Linux® and  Android, Windows, and Ubuntu,” said Manvinder Singh, VP, Product Management, Partner Solutions, Developer Experience, Industrial and Embedded IoT, Qualcomm Technologies, Inc. “It has a rich set of IO interfaces and delivers unrivaled compute and AI performance to unleash developer creativity. With the support of Qualcomm® Al Hub, developers will be able to quickly deploy optimized AI models on RUBIK Pi.”
“RUBIK Pi is a lightweight development board that is not only easy to use and is low cost but also holds significant ESG value. By making AI application development accessible to beginners, it promotes AI education, enhances technological literacy, and fosters social equity,” said Pier Zhang, Vice President of Thundercomm.
Preliminary orders of RUBIK Pi will be available at the beginning of November. For more information on RUBIK Pi, please visit the webpage.
About Thundercomm
Thundercomm, headquartered in San Diego, is a joint venture with Qualcomm®. Thundercomm was established to accelerate innovation in the Internet of Things and automotive industry, providing one-stop solutions powered by Qualcomm Technologies. Learn more at www.thundercomm.com
The registered trademark Linux® is used pursuant to a sublicense from the Linux Foundation, the exclusive licensee of Linus Torvalds, owner of the mark on a worldwide basis.
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Artificial Intelligence

Precisely Announces Breakthrough in Data Enrichment with New Data Graph API

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Unified access to a connected network of trusted datasets empowers users with enhanced query capabilities to gain valuable insights  
BURLINGTON, Mass., Oct. 8, 2024 /PRNewswire/ — Precisely, the global leader in data integrity, today announced the Data Graph API, a new addition to the Data Enrichment service within the Precisely Data Integrity Suite, during its Trust ’24 Data Integrity Summit in Philadelphia. For the first time, a single API offers simplified access to the Precisely data portfolio for flexible queries, data enrichment, and enhanced data discovery. Supported by the PreciselyID, the company’s unique and persistent identifier for any addressable location, the Data Graph API reduces complexity, ensures consistency, and speeds up the data enrichment process, accelerating time-to-value.

Data enrichment, the process of augmenting company data with carefully curated third-party data to improve its overall value, accuracy, and usability, is fast becoming a critical priority for organizations. This is especially true for companies looking to ensure that initiatives, such as AI and machine learning, are driven by contextually relevant data. In fact, research indicates a 22% increase in use of data enrichment as a key strategy for improving data integrity year over year. Despite this, many organizations continue to struggle with the time-consuming and often manual process of accurately integrating third-party data.
Powered by GraphQL technology, the Data Graph API dramatically simplifies data enrichment by enabling users to specify their data needs in a single query. The API filters and organizes the data before delivery, ensuring that businesses receive only the most relevant information according to their needs.  
Korem, a leading expert in geospatial technologies, and design partner for the Data Graph API, are looking forward to implementing the new functionality into their solutions to support a wide range of industry use cases. “We are excited about the launch of the new Data Graph API from Precisely,” said Jonathan Houde, CTO at Korem. “Instead of licensing entire datasets or making multiple web service calls, our customers can now access all the necessary information through one efficient and cost-effective service.”
At the heart of the Data Graph API is the PreciselyID, which allows customers to connect addresses to a wealth of trusted data for additional insight, such as relationships between buildings, parcels, property attributes, addresses, demographics, natural perils, and more. The Data Graph API simplifies queries to the rich portfolio of Precisely connected data and can facilitate the same easy access to data from industry partners. One such partner is GeoX, an aerial image processing company that provides property intelligence data to the insurance industry. As an industry partner, GeoX integrates their property intelligence into the Data Graph API, enabling insurers to enhance risk assessments, accurately underwrite policies, and predict and prevent losses by establishing a complete, 360-degree view of residential and commercial properties.
“The launch of the Data Graph API fundamentally transforms how companies bring together data to enhance the contextual relevance of AI and advanced analytics,” said Dan Adams, Senior Vice President and General Manager for Data Enrichment at Precisely. “Our data enrichment portfolio is designed to work together seamlessly, using unique identifiers to create a network of connected data where all feature relationships are mapped across datasets. As we extend this by pre-linking data from our trusted partners, the possibilities become limitless. We know this will save our customers time, allowing them to focus more on innovation rather than data preparation.”
The Data Graph API and a broad range of other market-leading tools are available in the company’s recently announced Precisely Data Integrity Suite Developer Portal, providing developer-friendly tools and resources to shorten the time it takes to build applications.
Learn more about the Data Graph API and how it helps customers to unlock a new world of data enrichment or register for the virtual Trust ’24 event taking place October 15 – 16 to hear about the latest data integrity innovations.
About PreciselyAs a global leader in data integrity, Precisely ensures that your data is accurate, consistent, and contextual. Our portfolio, including the Precisely Data Integrity Suite, helps integrate your data, improve data quality, govern data usage, geocode and analyze location data, and enrich with complementary datasets for confident business decisions. Over 12,000 organizations in more than 100 countries, including 93 of the Fortune 100, trust Precisely software, data, and strategy services to power AI, automation, and analytics initiatives. Learn more at www.precisely.com.
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