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Cloud Computing Market to Reach USD 2,321.1 Billion by 2032: Exploring the Diverse Applications of Cloud Computing

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New York, March 17, 2023 (GLOBE NEWSWIRE) — The global cloud computing market was valued at around USD 546.1 billion in 2022 and is estimated to be worth approximately USD 2,321 billion in 2032, growing at a CAGR of 16% between 2023 and 2032. Cloud computing is a network or model where programs or applications can run that can be accessed from many devices or servers simultaneously. Emerging technologies like Machine Learning and Artificial Intelligence enable cloud growth by allowing companies to tap into AI capabilities.

global cloud computing market

Get additional highlights on major revenue-generating segments; request a global cloud computing market sample report at https://market.us/report/cloud-computing-market/request-sample/

Key Takeaway:

  • By Deployment, in 2022, the private deployment segment has generated a revenue share of 47.2% 2022.
  • By Service, the Software as a Service (SaaS) segment has dominated the market with the highest revenue share of 56% in 2022.
  • By Enterprise Size, the Large enterprise segment has generated a revenue share of  52.6%.
  • By End Use, in 2022, the BFSI segment had the highest revenue share at over 26.4%.
  • In 2022, North America dominated the market with the highest revenue share of 41.2%.

The market for cloud computing is expected to be in demand. This is because more companies adopt cloud computing to streamline their operations. Cloud computing services will be in high demand due to the projected rise in large companies in emerging and established countries.

The pandemic has caused a big change in the workplace, as companies use smart tech like mobile supercomputing and IoT. Demand for cloud computing went up in Q3 2020 as businesses moved operations online. Cloud computing is able to help enterprises overcome the challenges of business continuity due to the lockdown and other mandates that have affected the market.

Factors affecting the growth of the Cloud Computing market

Several factors can affect the growth of the cloud computing market industry. Some of these factors include:

  • Technologies like artificial intelligence and machine learning: Emerging technologies like Artificial Intelligence and Machine Learning enable cloud growth by allowing companies to tap into AI capabilities. The global economy faces significant challenges due to the COVID-19 pandemic.
  • Remote work trend: Remote work has led to a rise in the demand for cloud computing services. This allows collaborative teams to access previously centralized data and analysis.
  • Software as a Service (SaaS): SaaS offers organizations more flexibility and options. Along with that it also has the ability to access the program remotely via web-based subscriptions. SaaS is a delivery model that focuses on software solutions that can reach many people.
  • Seamless data management and real-time visibility: Cloud services are expected to be adopted by the manufacturing sector as they offer benefits like seamless data management and real-time visibility in the cloud computing market
  • Data security and privacy: Vendors offer security services like data encryption, access control, cloud integration, monitoring and auditing, business continuity, and communication security.
  • COVID-19 effect: Cloud computing is able to help enterprises overcome the challenges of business continuity. Due to the lockdown and other mandates that have affected the market.

To understand how our Cloud Computing Market report can bring a difference to your business strategy, Inquire about a brochure at https://market.us/report/cloud-computing-market/#inquiry

Top Trends in Global Cloud Computing Market

Trends in cloud computing influence technological choices as well as business decisions and investment plans.

  • To become more flexible and efficient, businesses are modernizing their infrastructure and apps. Business activities are aided by cloud solutions, which move workloads and cut down on latency.
  • Hybrid deployment cloud services are in trend, companies are looking to move their infrastructure to cloud computing and are ready to adopt hybrid models. The hybrid model offers the opportunity to enjoy both cloud and on-premise services for enterprises.
  • The rising investments in the development of it and healthcare infrastructure in the nations like India and China and the rising focus towards the digital transformation of the industries is a major factor that is boosting the demand for cloud computing technologies in the Asia pacific.
  • The pandemic has caused a big change in the workplace, as companies use smart tech like mobile supercomputing and IoT. Demand for cloud computing went up in Q3 2020 as businesses moved operations online.
  • Organizations are being forced to modernize their infrastructure and application landscapes to increase business agility and cost efficiency. Cloud solutions and services can be used to support key business activities, transfer business workloads to the cloud, and reduce latency.

Market Growth

Adapting business operations according to changing market conditions is easier and faster with cloud computing. In other words, it streamlines the computerization of technology. As a result, it has opened up unprecedented possibilities for creating highly engaging customer experiences. As a result of cloud computing, behaviors have changed among individuals and businesses, and multiple lines of business are now able to navigate around tech policies to achieve their goals.

The cloud is essentially guiding organizations’ digital business decision processes, investment strategies, and vendor and technology selections. Some of the most significant aspects that are considerably fueling the expansion of the worldwide cloud computing market include the increasing emphasis on controlling operational expenditure, the increasing need for controlling capital expenditure, and customer satisfaction. The demand for cloud computing services is increasing globally due to several key criteria, including speedy data recovery, meeting compliance requirements, and data security.

Regional Analysis

North America dominated the market with the highest revenue share of 41.2% in 2022, major factor for the region’s growth is the presence of prominent cloud providers. North America is often regarded as an early adopter and innovator of new technologies like the IoT and additive manufacturing, big-data analytics, connected industries, and AI. Businesses in the U.S. continue to use cutting-edge technology, which bodes well for their growth.

Asia Pacific will be the fastest-growing region over the forecast period. The region’s market growth has been boosted by the rapid rise of India and China. The emergence of regional players such as Alibaba Group has also contributed to the region’s progress.

Competitive Landscape

Industry players will find that strategic mergers, partnerships, and acquisitions are the best ways to quickly access emerging markets. It will also help improve their technological capabilities. Service expansion, product differentiation, upgrades, and product differentiation are all expected to help companies grow in this market.

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Scope of the Report

Report Attribute Details
Market Value (2022) USD 546.1 Billion
Market Size (2032) USD 2,321 Billion
CAGR (from 2023 to 2032) 16% from 2023 to 2032
North Revenue Share 41.2%
Historic Period 2016 to 2022
Base Year 2022
Forecast Year 2023 to 2032

Market Drivers

Affordable operational expenditure is driving the cloud computing market. Some of the most significant aspects that are considerably fueling the expansion of the worldwide cloud computing market include the increasing emphasis on controlling operational expenditure, the increasing need for controlling capital expenditure, and customer satisfaction. The demand for cloud computing services is increasing globally due to several key criteria, including speedy data recovery, meeting compliance requirements, and data security.

Market Restraints

Organizations are concerned about data security and privacy. Information storage, use, and transmission must all be protected digitally. According to surveys, 61% of business-sensitive data on hard drives is insecure. Cloud computing allows various third parties to outsource skills which can cause a theft to their security and data concerns. This includes network infrastructure, mobility, endpoints, databases, virtualization, and web application. Therefore, according to companies’ concerns, privacy and security remain top restraints in adopting cloud computing.

Market Opportunities

Cloud computing is a faster and more efficient way to adapt to market changes and manage business operations. It simplifies technology consumption. It opens up new avenues for creating high-quality interactions with customers. This has paved the way to create several opportunities for key players in Healthcare, Finance, and Consumer IT.

Cloud has influenced behavior change in people and businesses. It has also enabled many lines of business to work around the tech policies and get things done. With cloud computing, costs associated with maintaining, establishing, and acquiring technological services are reduced.

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Report Segmentation of the Cloud Computing Market

Deployment Insight

The cloud computing market based on deployment is segmented into hybrid, private, and public sectors. the private deployment segment was at the top of this market over a private network or the internet; private clouds provide computer services. They are not accessible to the general public but rather to a small number of individuals. Private clouds offer third-party providers greater privacy and security by using internal hosting and firewalls that ensure high-level data protection.

Hybrid deployment, which includes both public and private models, will see a significant growth rate during the forecast period. The hybrid model is the most popular implementation model across industries. Many firms are increasingly focusing their efforts on hybrid cloud models and smart ways to improve business operations, resource utilization, cost optimization, user experience, application modernization, and maximizing the benefits

Service Insight

Software as a Service (SaaS), accounted for a 56% revenue share. SaaS’s flexibility, ease of maintenance, and deployment are the reasons for high demand. SaaS products will see strong growth over the next years, as their Total Cost of Owning (TCO), will be the same as that of on-premise deployment models. Over the forecast period, SaaS segment growth will be accelerated by increasing demand for SaaS delivery models and the increasing number of cloud-based businesses.

SaaS offers organizations more flexibility, options, and the ability to access the program remotely via web-based subscriptions. SaaS is a delivery model that focuses on software solutions that can reach many people.

Enterprise Size Insight

Based on enterprise size market is segmented into small & medium enterprises and large enterprises. largest market share was held by large enterprises. Demand is driven by lower operating costs, better collaboration, greater flexibility, and faster time to market. Cloud computing allows companies to delegate repetitive work to technology that can complete them quicker.

Over the forecast period, the fastest-growing segment will be the Small and Medium Enterprises segment (SMEs). This is due to the increasing number of SMEs in emerging countries like India and China. The market will continue to grow due to a rise in demand for cloud computing services by SMEs to improve workflow and lower operational costs.

End Use Insight

Based on the end-use market is segmented into IT & Telecom, Banking and Finance, Retail & Consumer Goods, Energy & Utilities, Manufacturing, Government & Public Sector, Media & Entertainment, Healthcare, and Other End-users. The BFSI segment had the highest revenue share at over 26.4%. Online banking has increased in the BFSI sector, which has led moneylenders and banks to embrace digital transformation. Cloud computing plays a crucial role in this process. Cloud services are being used to store and manage consumer data. BFSI will continue to see a significant role in the development of cloud services. This includes digital wallets, online funds transfers, payment gateways, and a unified customer experience.

Cloud services are being used to store and manage consumer data. BFSI will continue to see a significant role in the development of cloud services. This includes digital wallets, online funds transfers, payment gateways, and a unified customer experience.

The manufacturing sector also uses computing services to plan enterprise resources, manage the supply chain management, and store information related to enterprise manufacturing. Cloud computing services are a great way to share, analyze, and access large amounts of information in the manufacturing sector.

For more insights on the historical and Forecast Cloud Computing Market data from 2016 to 2032 – download a sample report at https://market.us/report/cloud-computing-market/request-sample/

Market Segmentation

By Deployment

  • Hybrid
  • Private
  • Public

By Service

  • Infrastructure as a Service(laas)
  • Software as a Service (SaaS)
  • Platform as a Service (PaaS)

By Enterprise Size

  • Small & Medium Enterprises
  • Large Enterprises

By End-use

  • IT & Telecom
  • BFSI
  • Retail & Consumer Goods
  • Energy & Utilities
  • Manufacturing
  • Government & Public Sector
  • Media & Entertainment
  • Healthcare
  • Other End-uses

By Geography

  • North America
    • The US
    • Canada
    • Mexico
  • Western Europe
    • Germany
    • France
    • The UK
    • Spain
    • Italy
    • Portugal
    • Ireland
    • Austria
    • Switzerland
    • Benelux
    • Nordic
    • Rest of Western Europe
  • Eastern Europe
    • Russia
    • Poland
    • The Czech Republic
    • Greece
    • Rest of Eastern Europe
  • APAC
    • China
    • Japan
    • South Korea
    • India
    • Australia & New Zealand
    • Indonesia
    • Malaysia
    • Philippines
    • Singapore
    • Thailand
    • Vietnam
    • Rest of APAC
  • Latin America
    • Brazil
    • Colombia
    • Chile
    • Argentina
    • Costa Rica
    • Rest of Latin America
  • Middle East & Africa
    • Algeria
    • Egypt
    • Israel
    • Kuwait
    • Nigeria
    • Saudi Arabia
    • South Africa
    • Turkey
    • United Arab Emirates
    • Rest of MEA

Recent Development of the Cloud Computing Market

  • In November 2019, a partnership was formed between Sprint Corporation and Ooma. “Omni,” a cloud-based enterprise mobile solution, was created and launched as a result of the partnership’s conclusion. The objective is to provide enterprise-level landline phone technology to both large and small businesses.
  • In February 2021, A specialized business group was formed by Accenture and VMware to assist businesses in implementing a cloud-first strategy. This release will make it possible to develop apps faster, move to the cloud, and use the cloud as the foundation for new businesses and innovation.

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More than $9 Million Awarded to High School Scientists and Engineers at the Regeneron International Science and Engineering Fair 2024

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Grace Sun, 16, receives $75,000 Top Award for a new kind of organic electrochemical transistor at the world’s largest pre-college science, technology, engineering and math (STEM) competition.
TARRYTOWN, N.Y. and WASHINGTON, May 17, 2024 /PRNewswire/ — Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) and Society for Science (the Society) announced that Grace Sun, 16, of Lexington, Kentucky, won the $75,000 top award, the George D. Yancopoulos Innovator Award, named in honor of the pioneering drug researcher and Regeneron co-Founder, Board co-Chair, President and Chief Scientific Officer, in the 2024 Regeneron International Science and Engineering Fair (Regeneron ISEF), the world’s largest pre-college science and engineering competition. Other top prizes went to projects in second-order cone programming, microplastics filtration and multi-sensory therapy for dementia.

The top winners were honored during two award ceremonies: the Special Awards on May 16 and the Grand Awards Ceremony on the morning of May 17. In total, over $9 million USD was awarded to the finalists based on their projects’ creativity, innovation and depth of scientific inquiry. The competition featured nearly 2,000 young scientists representing 49 U.S. states and nearly 70 countries, regions and territories across the world.
Grace Sun, 16, of Lexington, Kentucky, won first place and received the $75,000 George D. Yancopoulos Innovator Award for her research on building a better organic electrochemical transistor that she hopes will be used to develop new electronic devices that could help detect and treat serious illnesses like diabetes, epilepsy and organ failure. To overcome the problems that have previously prevented such devices from working effectively inside the body, Grace developed a new way of chemically treating their organic components, which greatly improved their laboratory performance.
Michelle Wei, 17, of San Jose, California, received one of two Regeneron Young Scientist Awards of $50,000 for her research to improve the speed and efficiency of a type of software that is useful in many fields such as machine learning, transportation and financial systems. Michelle’s new approach involved determining a quick approximate solution to the second-order cone programming problem, then splitting the initial cone into smaller cones, which enabled her new algorithm to greatly outperform previous approaches.
Krish Pai, 17, of Del Mar, California, received the second Regeneron Young Scientist Award of $50,000 for his machine-learning research to identify microbial genetic sequences that can be modified to biodegrade plastic. His new software, called Microby, scans databases of microorganisms and determines which ones can be changed genetically to biodegrade plastics. In tests, he identified two microorganisms that can be genetically modified to degrade plastic at a cost he believes would be ten times less than traditional recycling.
 “Congratulations to the Regeneron International Science and Engineering Fair 2024 winners,” said Maya Ajmera, President and CEO, Society for Science and Executive Publisher, Science News. “I’m truly inspired by the ingenuity and determination shown by these remarkable students. Coming from around the world with diverse backgrounds and academic disciplines, these students have shown that it is possible to come together in unity to tackle some of the toughest challenges facing our world today, and I could not be prouder.”
Regeneron ISEF provides a global stage for the world’s best and brightest young scientists and engineers. Through this competition, Regeneron and the Society are fostering the next generation of STEM leaders who are pioneering solutions to improve our world. Since 2020, Regeneron has provided STEM experiences to approximately 2.4 million students, on track to meet its goal of 2.5 million by 2025.
“The talent, intelligence and potential of this year’s Regeneron ISEF finalists is truly inspiring, and I congratulate each on their remarkable achievements,” said George D. Yancopoulos, M.D., Ph.D., co-Founder, Board co-Chair, President and Chief Scientific Officer of Regeneron. “Science competitions like ISEF were pivotal in shaping my own career and fueling my passion to fight back against disease. I look forward to seeing these students continue to push the boundaries of science and technology to create positive and sustainable change for all humanity.”
Other top honors from the competition include:
Justin Huang and Victoria Ou, both 17, of Woodlands, Texas, received the Gordon E. Moore Award for Positive Outcomes for Future Generations of $50,000 for their new prototype filtration system that uses ultrasonic waves to remove microscopic plastic particles from water. In lab tests, the acoustic force from the high-frequency sound waves removed between 84% and 94% of the suspended microplastic particles in a single pass. The students are now working to scale up and fine-tune their experimental system.
Ingrid Wai Hin Chan, 17, of Hong Kong, China received the Craig R. Barrett Award for Innovation of $10,000 for her research on using a multi-sensory therapy for dementia patients. Her mixed therapy app would allow patients to practice physical and cognitive skills through a personalized, immersive environment using virtual reality headsets. Ingrid conducted an eight-week study with six people living with dementia and found that the cognitive function of patients who used her prototype improved in several areas. She believes her app could serve as a viable option for dementia patients with limited access to in-person professional therapy.
Tanishka Balaji Aglave, 15, of Valrico, Florida, received the H. Robert Horvitz Prize for Fundamental Research of $10,000 for her investigation into a natural alternative treatment against citrus greening, a disease that threatens citrus farming in many parts of the world and is currently only treated with antibiotics. Tanishka injected the trunks of infected trees with an extract from the curry leaf tree, and found through tests that this potential method could effectively and sustainably manage citrus greening disease.
Maddux Alexander Springer, 18, of Honolulu, Hawaii, received the Peggy Scripps Award for Science Communication of $10,000 for his research into fibropapillomatosis (FP), a disease that is the primary cause of death in green sea turtles. Some turtles he studied in Kaneohe Bay, Hawaii, were stricken with a disease that causes internal and external tumors that inhibit their everyday lives. After analyzing the turtles’ diet of green algae, Maddux concluded that this disease, wastewater, invasive algae and the amino acid arginine all pose a grave risk to these endangered sea creatures.
Ria Kamat, 17, of Hackensack, New Jersey; Anna Oliva, 17, of Houston, TX; and Shuhan Luo, 18, of Worcester, MA, received the Dudley R. Herschbach SIYSS Award, which provides finalists an all-expense paid trip to attend the Stockholm International Youth Science Seminar during Nobel Week in Stockholm, Sweden.
Jack Shannon, 18, of Clane, Kildare, Ireland, and Nikhil Vemuri, 17, of Cary, North Carolina, received the EU Contest for Young Scientists Award. Their projects will represent Regeneron ISEF at the EU Contest for Young Scientists to be held this September in Katowice, Poland.
For more information about the top winners and access to visual assets visit:  https://www.societyforscience.org/isef-2024-media-kit.
The full list of Special Award ISEF 2024 Finalists can be found at https://www.societyforscience.org/press-release/regeneron-isef-2024-special-awards-winners.
In addition to the Top Award winners, more than 450 finalists received awards and prizes for their innovative research, including “First Award” winners, who each received a $5,000 prize.
The following lists the First Award winners for each of the 22 categories, from which the Top Awards were chosen:
Animal Sciences, sponsored by Society for ScienceMaddux Alexander Springer, Honolulu, Hawaii
Behavioral and Social Sciences, sponsored by Society for ScienceAndrew Y. Liang, San Jose, California
Biochemistry, sponsored by RegeneronAmy Hong Xiao, Garden City, New York
Biomedical and Health Sciences, sponsored by RegeneronRia Kamat, Hackensack, New Jersey; Kevin Xuan Lei, Shanghai, China
Biomedical Engineering, sponsored by Alfred E. Mann CharitiesAyush Garg, Dublin, California; Divij Motwani, Palo Alto, California; Akash Ashish Pai, Portland, Oregon
Cellular and Molecular Biology, sponsored by RegeneronLara and Maya Sarah Hammoud, Beverly Hills, Michigan
Chemistry, sponsored by Society for ScienceAkilan Sankaran, Albuquerque, New Mexico; Arjun Suresh Malpani and Siddharth Daniel D’costa, Portland, Oregon
Computational Biology and Bioinformatics, sponsored by RegeneronKun-Hyung Roh, Bronx, New York
Earth and Environmental Sciences, sponsored by Google.orgNikhil Vemuri, Durham, North Carolina; Justin Yizhou Huang and Victoria Ou, The Woodlands, Texas
Embedded Systems, sponsored by HPChloe Rae and Sophie Rose Filion, Welland, Ontario, Canada
Energy: Sustainable Materials and Design, sponsored by Siemens EnergyAlia Wahban, Hamilton, Ontario, Canada
Engineering Technology: Statics and Dynamics, sponsored by Howmet Aerospace FoundationChiyo Nakatsuji, Bunkyoku, Tokyo, Japan; Kevin Shen, Olympia, Washington
Environmental Engineering, sponsored by JacobsKrish Pai, San Diego, California; Jack Shannon, Clane, Kildare, Ireland
Materials Science, sponsored by Howmet Aerospace FoundationGrace Sun, Lexington, Kentucky
Mathematics, sponsored by Akamai FoundationAnna Oliva, Houston, Texas
Microbiology, sponsored by Schattner FoundationMatthew Chang, Irvine, California
Physics and Astronomy, sponsored by Richard F. Caris Charitable Trust IIHarini Thiagarajan and Vishal Ranganath Yalla, Bothell, Washington; Shuhan Luo, Worcester, Massachusetts
Plant Sciences, sponsored by Society for SciencePauline Estrada, Fresno, California; Tanishka Balaji Aglave, Dover, Florida
Robotics and Intelligent Machines, sponsored by RegeneronMichal Lajciak, Dubnica nad Vahom, Trenciansky kraj, Slovakia; Anthony Efthimiadis, Oakville, Ontario, Canada
Systems Software, sponsored by MicrosoftMichelle Wei, San Jose, California
Technology Enhances the Arts, sponsored by Society for ScienceAnant Khandelwal, Sritan Motati and Siddhant Sood, Alexandria, Virginia
Translational Medical Science, sponsored by RegeneronZheng-Chi Lee, West Lafayette, Indiana; Ingrid Wai Hin Chan, Hong Kong, China
The full list of all award-winning ISEF 2024 finalists is available here: https://www.societyforscience.org/press-release/regeneron-isef-2024-full-awards.
View all the finalists’ research here: https://projectboard.world/isef.
About the Regeneron International Science and Engineering FairThe Regeneron International Science and Engineering Fair (Regeneron ISEF), a program of Society for Science for over 70 years, is the world’s largest global science competition for high school students. Through a global network of local, regional and national science fairs, millions of students are encouraged to explore their passion for scientific inquiry. Each spring, a group of these students is selected as finalists and offered the opportunity to compete for approximately U.S. $9 million in awards and scholarships.
In 2019, Regeneron became the title sponsor of ISEF to help reward and celebrate the best and brightest young minds globally and encourage them to pursue careers in STEM to positively impact the world. Regeneron ISEF is supported by a community of additional sponsors, including Akamai Foundation, Alfred E. Mann Charities, Aramco, Caltech, Google.org, Gordon and Betty Moore Foundation, Howmet Aerospace Foundation, HP, , Jacobs, King Abdulaziz & his Companions Foundation for Giftedness and Creativity, Microsoft, National Geographic Society, Richard F. Caris Charitable Trust II, Rise, an initiative of Schmidt Futures and the Rhodes Trust, Schattner Foundation, Siemens Energy, Annenburg Foundation, Ballmer Group, Broadcom Foundation, Cesco Linguistic Services, Conrad N. Hilton Foundation, Edison International, Insaco, Oracle Academy, The Eli and Edythe Broad Foundation, The Ralph M. Parsons Foundation and US Army ROTC. Many are entrepreneurs across a wide range of industries. Learn more at https://www.societyforscience.org/isef/.
About Society for ScienceSociety for Science is a champion for science, dedicated to promoting the understanding and appreciation of science and the vital role it plays in human advancement. Established in 1921, Society for Science is best known for its award-winning journalism through Science News and Science News Explores, its world-class science research competitions for students, including the Regeneron Science Talent Search, the Regeneron International Science and Engineering Fair and the Thermo Fisher Scientific Junior Innovators Challenge, and its outreach and equity programming that seeks to ensure that all students have an opportunity to pursue a career in STEM. A 501(c)(3) membership organization, Society for Science is committed to inform, educate and inspire. Learn more at www.societyforscience.org and follow us on Facebook, Twitter, Instagram and Snapchat (Society4Science).
About RegeneronRegeneron (NASDAQ: REGN) is a leading biotechnology company that invents, develops and commercializes life-transforming medicines for people with serious diseases. Founded and led by physician-scientists, our unique ability to repeatedly and consistently translate science into medicine has led to numerous approved treatments and product candidates in development, most of which were homegrown in our laboratories. Our medicines and pipeline are designed to help patients with eye diseases, allergic and inflammatory diseases, cancer, cardiovascular and metabolic diseases, neurological diseases, hematologic conditions, infectious diseases and rare diseases. 
Regeneron believes that operating as a good corporate citizen is crucial to delivering on our mission. We approach corporate responsibility with three goals in mind: to improve the lives of people with serious diseases, to foster a culture of integrity and excellence and to build sustainable communities. Regeneron is proud to be included on the Dow Jones Sustainability World Index and the Civic 50 list of the most “community-minded” companies in the U.S. Throughout the year, Regeneron empowers and supports employees to give back through our volunteering, pro bono and matching gift programs. Our most significant philanthropic commitments are in the area of early science education, including the Regeneron Science Talent Search and the Regeneron International Science and Engineering Fair (ISEF).
For more information, please visit www.Regeneron.com or follow Regeneron on LinkedIn, Instagram, Facebook or X.
More information about the top winners and access to visual assets visit:  https://www.societyforscience.org/isef-2024-media-kit.
Media ContactsJoseph Brown, [email protected]
Gayle Kansagor, Society for [email protected]
Photo – https://mma.prnewswire.com/media/2416174/Regeneron_ISEF_2024_Winners_Photo.jpg 
Logo – https://mma.prnewswire.com/media/2416197/Society_for_Science_Logo.jpg 

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J.P. Morgan Life Sciences Private Capital, Blue Horizon Advisors and United Al Saqer Announce Winner of Inaugural 2024 Life Sciences Innovation Summit

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In conjunction with Abu Dhabi Global Healthcare Week 2024
ABU DHABI, UAE, May 17, 2024 /PRNewswire/ — J.P. Morgan Life Sciences Private Capital, Blue Horizon Advisors and United Al Saqer Group announced today Rayees Rahman of Harmonic Discovery as the winner of the inaugural J.P. Morgan Asset Management: Life Sciences Innovation Summit. Harmonic Discovery is a precision pharmacology company applying its generative chemistry platform to advance next-generation kinase inhibitors.

In partnership with the Department of Health – Abu Dhabi (DoH), the Summit took place on May 14-15, 2024 at Cleveland Clinic Abu Dhabi and showcased the 11 innovative finalists, as well as highlighted existing innovators and opportunities in the Emirate of Abu Dhabi. The event also featured keynote speeches from Dr. Laurie Glimcher of Dana-Farber Cancer Institute, Dr. Shahrukh Hashmi of the Department of Health – Abu Dhabi, and Dr. David Ho of Columbia University Medical Center and provided attendees networking opportunities to gain valuable insights into the future of life sciences innovation. 
In addition, the jury designated Chun-Hao Huang of Algen Biotechnologies as honourable mention. Algen Biotechnologies is a platform therapeutics and drug discovery company using world-leading CRISPR and AI to find treatments for cancer, inflammation and metabolic diseases.
The winners were selected by an esteemed, international panel of judges, which included:Laurie Glimcher, MD, President and CEO at Dana-Farber Cancer InstituteJorge Guzman, MD, CEO at Cleveland Clinic Abu DhabiProf. Shahrukh Khurshid Hashmi, MD, Director of Research, Department of Health, Abu DhabiYasmine Hayek Kobeissi, PhD, CQF, BSc., Executive Director at Blue Horizon AdvisorsAnya Schiess, Managing Partner at J.P. Morgan Life Sciences Private CapitalWalid Zaher, PhD, Co-Founder and CEO, Carexso
Dr. Asma Al Mannaei, Executive Director of the Research and Innovation Centre at the Department of Health – Abu Dhabi said: “Under the directives of the UAE’s wise leadership, and renowned for its world-leading medical infrastructure, Abu Dhabi stands at the forefront of healthcare excellence, offering an unparalleled opportunity for advancement in healthcare for global partners. It was our utmost pleasure hosting the J.P. Morgan Asset Management Life Sciences Innovation Summit 2024 on the sidelines of Abu Dhabi Global Healthcare Week and we commend the winners for their pioneering efforts in driving impactful advancements in healthcare; their dedication to innovation not only transforms the landscape of medicine, but also holds the promise of improving lives worldwide.” 
Stephen Squinto, PhD, Chief Investment Officer, J.P. Morgan Life Sciences Private Capital said: “We are thrilled with the level of biotech passion and innovation that we observed at this year’s Summit in Abu Dhabi. The energy was truly palpable we are thrilled to announce Rayees Rahman as the winner of our first Life Sciences Innovation Summit. Harmonic Discovery’s approach embodies the next generation of drug discovery and development. We appreciate the time and effort of all participants and cannot wait for our next event in the region.”
Nabil Kobeissi, Chief Executive Officer of Blue Horizon Advisors, said: “As the main sponsor, we are committed to nurturing and fostering the growth of all 11 finalists in this vibrant biotech ecosystem. This Summit marks the beginning of a transformative journey, and we are confident that it will pave the way for a flourishing hub in the region. We are also pleased to announce that we will commit to invest in and partner with the winner, Harmonic Discovery, to support its future growth in the region.”
Sponsors for the event included J.P. Morgan Life Sciences Private Capital, J.P. Morgan Commercial Bank, Blue Horizon Advisors, United Al Saqer Group, Thermo Fisher Scientific, and Salam Capital. The Summit organisation, logistics and finalist recruitment were facilitated by Lyfebulb.
Of importance, at the Summit, Mr. Mohamed Al Breiki, Executive Director of Sustainable Development at Masdar City, announced that Masdar City Free Zone would award all 11 Finalists complimentary business licenses to further support their establishment in the region. Masdar City is one of the world’s most sustainable urban developments and innovation hubs with a growing focus on life science entrepreneurship in Abu Dhabi.

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Artificial Intelligence

Congregating in the Lion City for a Win-Win Future of Intelligent Computing at the Global Data Center Facility Summit 2024

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congregating-in-the-lion-city-for-a-win-win-future-of-intelligent-computing-at-the-global-data-center-facility-summit-2024

SINGAPORE, May 17, 2024 /PRNewswire/ — On May 17, 2024, the Global Data Center Facility Summit 2024 was held in Singapore with the theme of “Power the Digital Era Forward.” At the summit, over 600 data center industry leaders, technical experts, and ecosystem partners gathered to discuss new trends and opportunities of the global data center industry in the intelligent computing era. The attendees also got to experience all-scenario, all-ecosystem, and all-service end-to-end (E2E) solutions, share innovative practices of green data centers in the Asia Pacific and Europe, and experience the exhibition vehicle to unveil the mystery of Outdoor PowerPOD that features one power system per container. By fully embracing the intelligent computing era, Huawei strives to power the digital era forward.

Seizing Opportunities Brought by AI and Jointly Building Green & Reliable Computing Infrastructure
At the opening speech, Charles Yang, Senior Vice President of Huawei and President of Marketing, Sales and Services, Huawei Digital Power, noted that since ChatGPT ushered in the AI era, large models keep pushing the limits of computing power and the intelligent computing industry is witnessing an unprecedented construction boom. As predicted, 100 GW will be added to the global data center installed capacity and the market value will exceed US$600 billion in the next five years.
According to Charles, with opportunities come challenges. The primary challenge concerning the data center industry is reliability and electricity. Data centers are scaling up from the MW-level to the GW-level. E2E reliability of data centers is becoming even more important than ever. In response to the opportunities, Huawei will work with customers and partners to expand the industry space.
Steering Data Centers to the AI Era with Product + Service + Ecosystem
During the summit, Sun Xiaofeng, President of Huawei Data Center Facility & Critical Power Business, delivered a speech titled “Power the Digital Era Forward. ” He stated that as AI large models are penetrating, the surging compute demands drive the expansive growth in data center.
To address the challenges, Huawei strives to build product + service + ecosystem E2E data center solutions that feature fast deployment, flexible cooling, green energy, and ultimate reliability.
Fast deployment: Data centers are fully modularized and prefabricated to ensure high quality and efficient construction.Flexible cooling: Air-liquid fusion and integrated cooling source emerges as the optimal cooling architecture for intelligent computing.Green energy: New generation-grid-load-storage integrated solution is built to ensure the sound operations of intelligent computing centers.Ultimate reliability: Data centers are safeguarded through reliable products and preventive protection.Currently, Huawei’s global service network covers more than 170 countries with over 1800 professional engineers, providing 24/7 technical support. With N+ flagship service centers, Huawei has built a one-hour service radius for its customers.
The ecosystem is a key part for a win-win future of intelligent computing. Huawei works with partners to develop comprehensive E2E solutions and provide customers with one-stop data center services.
During the summit, Huawei and the ASEAN Centre for Energy released a white paper on “Building Next Generation Data Center Facility in ASEAN.” The document provides insights into the status quo, challenges, and trends of data centers in the ASEAN region, and emphasizes that efficient and energy-saving products and solutions should be applied. It also proposes future-oriented policy recommendations for data center markets.
In the ecosystem exhibition area, Huawei showcased scenario-based solutions for large-, medium-, and small-sized data centers, and demonstrated data center consulting, design, integrated development, and delivery capabilities with dozens of ecosystem partners including CIMC, Weichai, CSCEC, and Huashi.
On a special note, the Huawei Outdoor PowerPOD exhibition vehicle made its global debut. The Huawei Outdoor PowerPOD features one power system per container, outdoor deployment, plug-and-play, and high protection rating and reliability. It has become the preferred choice for decoupling the power supply architecture.
A single tree cannot make a forest.
AI is presenting great opportunities. By delving into the industry, aggregating partner ecosystems, and making innovations applicable to transformations, Huawei will continue to help customers build reliable computing infrastructure, accelerating the industry to embrace AI and powering the digital era forward.
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View original content:https://www.prnewswire.co.uk/news-releases/congregating-in-the-lion-city-for-a-win-win-future-of-intelligent-computing-at-the-global-data-center-facility-summit-2024-302148973.html

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