Artificial Intelligence
Enterprise IoT Market To Reach USD 2465.2 Billion at a CAGR of 28.40% by 2030- Report by Market Research Future (MRFR)
<!– Name:DistributionId Value:8787976 –> <!– Name:EnableQuoteCarouselOnPnr Value:False –> <!– Name:IcbCode Value: –> <!– Name:CustomerId Value:1259337 –> <!– Name:HasMediaSnippet Value:false –> <!– Name:AnalyticsTrackingId Value:78421b14-0531-403d-b71a-63ff90d5dc4f –>
New York, US, March 14, 2023 (GLOBE NEWSWIRE) — According to a comprehensive research report by Market Research Future (MRFR), “Enterprise Iot Market” Research Report: By Component, Platform and Enterprise Type – Forecast Till 2030, the market is anticipated to acquire a valuation of approximately USD 2465.2 Billion by the end of 2030. The reports further predict the market to flourish at a robust CAGR of over 28.40% during the assessment timeframe.
Enterprise IoT Market Key Players
Eminent industry players in the enterprise IoT market report include
- Microsoft Corporation (US)
- Bosch Software Innovations Gmb
- Oracle Corporation (US)
- Verizon Communication (US)
- Hewlett Packard Enterprise (US)
- Cisco Systems Inc. (US)
- Amazon Web Services Inc. (US)
- Intel Corporation (US)
- Google Inc. (US)
- IBM Corporation (US)
Get Free Sample PDF Brochure:
https://www.marketresearchfuture.com/sample_request/4245
Report Scope:
| Report Metric | Details |
| Revenue forecast in 2030 | USD 2465.2 Billion |
| Growth Rate | CAGR 28.40% from 2022 to 2030 |
| Base Year | 2021 |
| Study Period | 2022-2030 |
| Key Market Opportunities | The reduced costs will help the enterprises to provide a better work environment and also gain new customers |
| Key Market Drivers | Rising demand for digitalization The growing adoption of cloud-based platforms |
Browse In-depth Market Research Report (100 Pages) on Enterprise Iot Market:
https://www.marketresearchfuture.com/reports/enterprise-iot-market-4245
Enterprise IoT Market Drivers
Rising Focus on Digital Transformation to Boost Market Growth
The enterprise IoT market is expanding as a result of the increased emphasis on the digital transformation across numerous industries. The growing demand for IoT in cutting-edge fields like AI, ML, & big data is anticipated to fuel market expansion.
Opportunities
Increasing Investments in Smart City Projects to offer Robust Opportunities
As the world grows more urbanized, so will the need for IoT devices, the number of smart city initiatives, and government investment for the digital economy. The platform and gadgets are used to keep a close eye on mobility, infrastructures, and air and water quality in order to augment infrastructure, public services, & utilities. Thus, each of these reasons is contributing to the growth of the global enterprise IoT market.
Besides, Enterprise IoT devices are in demand globally as a result of manufacturers employing these solutions to manage assets in their factories, simplify their control rooms, and enhance analytical functionality through predictive maintenance. Moreover, 5G wireless technology aims to provide faster peak data throughput of multiple gigabits per second (Gbps), ultra-low latency, increased stability, huge network capacity, & increased availability needed for mainstream Corporate IoT adoption.
Restraints and Challenges
Dearth of Technological Awareness to act Market Restraint
The dearth of technological awareness may act as a market restraint over the forecast period. Also the limitations associated with data privacy, integrity, and security may also impede market growth. A wide range of applications for Internet of Things (IoT) technology exist, including gathering biometric data through communication networks & cloud computing. These devices each have a unique IP address that they use for communication and data sharing both internally and with other machines. Data security and privacy for smart devices, linked devices, mobile devices, & platforms are expanding as deployment technology advances. All of these challenges are therefore impeding the development of the enterprise IoT market.
Ask To Expert:
https://www.marketresearchfuture.com/ask_for_schedule_call/4245
Enterprise IoT Market Segmentation
The global enterprise IoT market has been bifurcated based on component, platform, and enterprise type.
By component, solution will lead the market over the forecast period. The rising use of professional IoT services by organizations, such as consultancy services, deployment & integration services, maintenance and support services, is one of the main factors driving the market expansion. By providing service-based solutions for handling front-end deployment, manufacturing operations, and selecting the necessary parts for particular company needs, managed service providers have indeed made it likely for IoT technology in being extensively deployed.
By platform, the market is segmented into network management, application management, and device management.
By enterprise type, SMEs will domineer the market over the forecast period. An increase in government programs to support small & medium-sized businesses in growing digitally is blamed for the rise. Governments are making significant investments in IoT for cutting-edge initiatives in many industries, including infrastructure and defense, which is anticipated to fuel market expansion.
COVID-19 Analysis
The COVID-19 epidemic affects several facets of the IoT market and has an unmatched effect on the population & economy of these nations. The Internet of Things’s shutdown has had an adverse impact on a number of businesses, including manufacturing, transportation, & the car industry. The businesses would need to employ new tactics after the lockout in order to adhere to regulatory requirements. Industries all across the world intend to restart production. Furthermore, organizations and sectors need to invest in digital technologies. The COVID-19 pandemic had a significant effect on the world economy. The outbreak significantly damaged a number of businesses. The COVID-19 epidemic also had a substantial impact on the IoT system supply chain. Professional services were delayed as well as a number of IoT efforts. Few connected devices had been used in the early stages of the pandemic because several businesses’ activities were affected. The pandemic accelerated the adoption of various technologies as people became more tech-savvy and used technology to work from home. These technologies include artificial intelligence, machine learning, machine learning, the IoT, the Internet of Everything, and others.
Regional Analysis
North America to Sway Enterprise IoT Market
The region of North America held the biggest market share. From 2022 to 2030, the region is projected to see a CAGR of more than 11%. The region’s early embrace of cutting-edge technologies including big data, ML, cloud, IoT, AI, and mobility is anticipated to drive market expansion. Also, firms in the area are eager to integrate IoT technologies in their procedures in order to boost operational effectiveness. Also, the government in the US is working to expand the use of immersive technology and hence the market shares of the area.
Check for Discount:
https://www.marketresearchfuture.com/check-discount/4245
APAC to Have Favorable Growth in Enterprise IoT Market
The market in the APAC region is anticipated to have the highest CAGR. The quick expansion of the IT infrastructure and the drive for new technology adoption among local enterprises are both responsible for the growth. In addition, to counteract rising labor costs, nations like Japan & China are increasingly implementing automation and cutting-edge technology across a variety of industries. The region’s IoT market has also been supported by increased government initiatives to promote the use of connected devices as well as investments from major IoT market companies. The US and China jointly drove the regional demand. The regional enterprise IoT markets will be driven by the use of mobile 5G services, which will be aided by rising need for smart city platforms.
Industry Updates
February 2023- To capitalize on widespread enterprise IoT installations, Qualcomm has introduced a new platform called “Aware.” According to the Aware cloud platform, large firms deploying IoT sensors may now connect globally and access real-time connection and data analytics.
Related Reports:
Speed Sensor Market Research Report: Information by Technology, By Application and Region —Forecast till 2030
Industrial Sensor Market Research Report: Information By Sensor Type, By Type, By Technology, By End User Industry, and Region Forecast till 2030
Facial Recognition Market: Information by Technology, By Service, By Component, By End User, and Region—Forecast till 2030
About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
Artificial Intelligence
ITC Infotech to acquire specialised Cloud services company Blazeclan Technologies Private Limited, to augment its Multi-Cloud capabilities and accelerate Customers’ Digital Transformation Journey
The acquisition will enable ITC Infotech to build a strategic cloud asset with a focus on the Hyperscaler Partner eco-system to ramp up future growth
PARAMUS, N.J. and LONDON and BANGALORE, India, April 18, 2024 /PRNewswire/ — ITC Infotech, a leading global technology services and solutions provider, announced today the signing of a definitive agreement to acquire 100% shareholding of Blazeclan Technologies Private Limited (Blazeclan) – a born-in-the-cloud consulting company providing Cloud services on AWS, Azure and GCP. The acquisition reiterates ITC Infotech’s commitment to help clients steer their digital transformation journey and deliver business outcomes built on the foundation of strong Cloud capabilities.
Headquartered in Pune, India, Blazeclan is an AWS Premier Partner, Snowflake Elite Partner and a leader in providing Cloud transformation solutions to customers globally with strong expertise in Cloud Migration, Digital Services, Digital Cloud Consulting and Data Analytics & Insights. Leveraging its powerful platforms, frameworks and accelerators, Blazeclan helps drive on-demand and sustainable cloud adoption for its clients. Blazeclan’s broad suite of services and disruptive building blocks help speed up digital transformation by modernizing the infrastructure with native cloud services and migration accelerators. Blazeclan has been recognized as a Niche Player in the 2023 Gartner® Magic Quadrant for Public Cloud IT Transformation Services.
This acquisition will augment ITC Infotech’s capabilities to service its customers in a multi-cloud and hybrid cloud environment with a focus on the Partner eco-system to accelerate future growth. ITC Infotech proposes to leverage the platforms and accelerators built by Blazeclan and the strong certified architect pool to strengthen its cloud offerings. This move is aligned with the Company’s strategy of pursuing value accretive investments focused on sharpening capability-led solutions while strengthening partnerships which form critical pillars of growth for ITC Infotech. With this agreement, ITC Infotech intends to further deepen its global presence through Cloud Competency Centres in Australia, Singapore, Malaysia, and India.
Sudip Singh, Managing Director and Chief Executive Officer of ITC Infotech, said, “In an evolving ecosystem, enterprises today need to leverage their Cloud investments to stay ahead of the curve and deliver higher value to their customers. With the proposed acquisition of Blazeclan, we believe that we will be strongly positioned to step up our clients’ digital transformation journey. This acquisition will not only strengthen our capabilities significantly but will enable us to make scalable progress in the cloud space, while providing access to key opportunities to unlock larger business value for our customers.”
Varoon Rajani, Founder & Chief Executive Officer of Blazeclan said, “I am thrilled to announce the next chapter for Blazeclan as we join the ITC Infotech family. Our shared commitment to people-centric values, customer obsession, and global excellence align seamlessly. With ITC Infotech’s rich technical expertise, we are poised to elevate our capabilities and better serve our customers. Blazeclan’s expertise in cloud and modernization combined with ITC Infotech’s strengths creates a winning formula. This partnership promises excitement and growth for both organizations, our valued partners, customers and dedicated employees. Together, we are embarking on a journey of innovation, growth, and mature enterprise solutions.”
This acquisition is expected to close in 6 to 8 weeks, subject to customary closing conditions.
About ITC Infotech:
ITC Infotech is a leading global technology services and solutions provider, led by Business and Technology Consulting. ITC Infotech provides business-friendly solutions to help clients succeed and be future-ready, by seamlessly bringing together digital expertise, strong industry specific alliances and the unique ability to leverage deep domain expertise from ITC Group businesses. The company provides technology solutions and services to enterprises across industries such as Banking & Financial Services, Healthcare, Manufacturing, Consumer Goods, Travel and Hospitality, through a combination of traditional and newer business models, as a long-term sustainable partner. ITC Infotech is a wholly-owned subsidiary of ITC Limited, one of India’s leading private sector companies and a diversified conglomerate with businesses spanning Consumer Goods, Hotels, Paperboards and Packaging and Agri Business. For more information, please visit: http://www.itcinfotech.com/
About Blazeclan:
Blazeclan is amongst the world’s leading providers of cloud services with a history of leading enterprises to unlock the value of cloud computing. Established in 2010, the company has been empowering customers across the globe with cloud advisory services, cloud migration, DevOps and Automation, Big Data and Analytics, Cloud Native Application development, and cloud managed services.
View original content:https://www.prnewswire.co.uk/news-releases/itc-infotech-to-acquire-specialised-cloud-services-company-blazeclan-technologies-private-limited-to-augment-its-multi-cloud-capabilities-and-accelerate-customers-digital-transformation-journey-302120858.html
Advanced technology and support to enable the development of GenAI solutions
BARCELONA, Spain, April 18, 2024 /PRNewswire/ — Veeva Systems (NYSE: VEEV) today announced the Veeva AI Partner Program to provide partners with the advanced technology and support needed to integrate Generative AI (GenAI) solutions seamlessly with Veeva Vault applications.
“Our customers are exploring GenAI solutions across many use cases as the technology evolves,” said Tom Schwenger, Veeva president and chief customer officer. “The Veeva AI Partner Program provides access to critical technology to help partners develop GenAI solutions that integrate seamlessly with Veeva applications.”
The Veeva AI Partner Program includes:
Vault Direct Data API training and support to build expertise in leveraging Veeva Vault Platform’s unique, high-speed API. This new class of API makes Vault data accessible to applications up to 100 times faster than traditional APIs and is transactionally sound and consistent across large datasets. Vault Application Sandbox to develop, test, and support partner applications integrated with Veeva Vault applications.The Veeva AI Partner Program is part of Veeva’s focused strategy to enable AI for the life sciences industry. The Vault Direct Data API and AI Partner Program enable customers and partners to more easily build AI applications that integrate seamlessly with Vault applications.
Companies can learn more about the Veeva AI Partner Program at veeva.com/AIPartnerProgram.
About Veeva SystemsVeeva is the global leader in cloud software for the life sciences industry. Committed to innovation, product excellence, and customer success, Veeva serves more than 1,000 customers, ranging from the world’s largest biopharmaceutical companies to emerging biotechs. As a Public Benefit Corporation, Veeva is committed to balancing the interests of all stakeholders, including customers, employees, shareholders, and the industries it serves. For more information, visit veeva.com/eu.
Veeva Forward-looking StatementsThis release contains forward-looking statements regarding Veeva’s products and services and the expected results or benefits from use of our products and services. These statements are based on our current expectations. Actual results could differ materially from those provided in this release and we have no obligation to update such statements. There are numerous risks that have the potential to negatively impact our results, including the risks and uncertainties disclosed in our filing on Form 10-K for the fiscal year ended January 31, 2024, which you can find here (a summary of risks which may impact our business can be found on pages 9 and 10), and in our subsequent SEC filings, which you can access at sec.gov.
Contact:
Meera Lakhani-PatelVeeva [email protected]
Logo – https://mma.prnewswire.com/media/1488285/Veeva_Systems_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/veeva-launches-ai-partner-program-302120320.html
Artificial Intelligence
Altair Acquires Cambridge Semantics, Powering Next-Generation Enterprise Data Fabrics and Generative AI
Acquisition expands Altair’s data analytics and AI offerings
TROY, Mich., April 18, 2024 /PRNewswire/ — Altair (Nasdaq: ALTR) a global leader in computational intelligence, acquired Cambridge Semantics, a modern data fabric provider and creator of one of the industry’s leading analytical graph databases. Cambridge Semantics’ graph-powered data fabric technology accelerates the creation of comprehensive enterprise knowledge graphs, integrating the complex web of structured and unstructured enterprise data together into a single, simplified view.
Bringing together Cambridge Semantics’ transformational knowledge graph technology with Altair’s leading tools for data analytics and data science offers organizations a solid foundation for building advanced analytics ecosystems that inject artificial intelligence (AI) into day-to-day business operations.
“Knowledge graphs are key pieces of data fabrics. They put the right data in the right hands at the right time. We believe Cambridge Semantics brings the fastest and most scalable knowledge graphs to organizations who have significant data volumes and deep questions,” said James R. Scapa, founder and chief executive officer, Altair. “Additionally, knowledge graphs are critical for successful generative AI applications as they provide the business context necessary to ground generative AI models, eliminate hallucinations, and dramatically improve response quality.”
Cambridge Semantics’ technologies will be integrated into the Altair® RapidMiner® platform, adding knowledge graph, data governance, data virtualization, and data discovery technology to the platform’s existing data preparation, ETL, data science, business intelligence, MLOps, workload management, and orchestration tools.
“Joining Altair is a natural transition for Cambridge Semantics as we seek to accelerate the pace of our technology adoption,” said Charles Pieper, chairman and chief executive officer, Cambridge Semantics. “Cambridge Semantics has historically been successful with Fortune 500 government, defense, life science and manufacturing organizations. Bringing Cambridge Semantics to Altair’s broad customer base through the Altair Units business model – and integrating it into Altair RapidMiner – is an exciting prospect for us and for our customers.”
Cambridge Semantics was founded in 2007 by an innovation and engineering team from IBM’s Advanced Technology Group with a shared belief that semantic graph data models were a transformational technology destined to help organizations exploit their data in unprecedented ways: fueling analytics, revealing new insights, and enabling strategically important, competitive differentiation. Its technical team was fundamental to the development of data warehouses IBM Netezza and Amazon Redshift and represents one of the largest single collections of knowledge graph experts in the world.
“This acquisition adds deep data warehousing expertise to our already strong analytics and data science team, creating an enhanced core group of engineers that understand the entire data lifecycle – from data creation to real impact,” said Srikanth Mahalingam, chief technology officer, Altair. “We are all excited about where this combined team and technology will take us.”
For more information about Altair RapidMiner, visit https://altair.com/altair-rapidminer.
About AltairAltair is a global leader in computational intelligence that provides software and cloud solutions in simulation, high-performance computing (HPC), data analytics, and AI. Altair enables organizations across all industries to compete more effectively and drive smarter decisions in an increasingly connected world – all while creating a greener, more sustainable future. To learn more, please visit www.altair.com.
Media contacts
Altair Corporate
Altair Investor Relations
Bridget Hagan
Monica Gould, The Blueshirt Group
+1.216.769.2658
+1 212.871.3927
[email protected]
[email protected]
Altair Europe/The Middle East/Africa
Charlotte Hartmann
+49 7031 6208 0
[email protected]
Photo – https://mma.prnewswire.com/media/2390549/Altair_Cambridge_Semantics_Acquired_Social.jpgLogo – https://mma.prnewswire.com/media/1421069/Altair_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/altair-acquires-cambridge-semantics-powering-next-generation-enterprise-data-fabrics-and-generative-ai-302120311.html
-
Artificial Intelligence6 days agoIn-Depth Analysis of Germany and France Data Center Markets: Germany Poised to Contribute Over $12.24 Billion Opportunities in the Next 6 Years – Arizton
-
Uncategorized6 days agoArm CEO Rene Haas will be delivering a Partner’s Event Speech at COMPUTEX 2024
-
Uncategorized6 days ago
BJEI: A New Record of High Performance in 2023 and a New Pattern of Diversified and Coordinated Development
-
Uncategorized6 days ago
Dimethyl Carbonate Market worth $1.9 billion by 2028 – Exclusive Report by MarketsandMarkets™
-
Uncategorized6 days ago
Integrity Food Marketing Joins Forces with CA Ferolie to Expand East Coast Reach from Maine to Florida
-
Artificial Intelligence6 days agoCogX Festival Set to Debut in Los Angeles at Century Plaza on May 7th, 2024
-
Artificial Intelligence6 days ago
aelf Leads the Fusion of AI and Blockchain to Shape the Future of Technology
-
Artificial Intelligence6 days agoXinhua Silk Road: Zoomlion Access pursues high-quality development with aerial work machinery sector innovation
