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RNA Analysis Market Size to Hit USD 34.37 Bn by 2032 with CAGR of 14% | Market.us Research

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New York, April 28, 2023 (GLOBE NEWSWIRE) — Market.us predicts that the RNA Analysis Market will achieve a registered compound annual growth rate (CAGR) of 14% from 2023 to 2032, resulting in a market size exceeding USD 34.37 billion by 2032, up from USD 9.58 billion in 2022.

Transcriptomics is one of the most advanced fields in post-genomic science. Its rapid advancement can be attributed to its increasing applications in life science for capturing polyadenylated RNA. With the development of next-generation high throughput sequencing technology, transcriptome analysis is making strides toward providing a greater understanding of how RNA-based genes are regulated. 

RNA analysis market
In July 2021, a Lithuanian team is developing a droplet-based technique for simultaneous mRNA and microRNA capture and sequencing within one cell. The growing need to analyze a large number of genes in order to better comprehend gene-drug interactions is anticipated to further drive the use of transcriptomics technologies for discovery applications and drug development. For instance, transcriptome profiles of COVID-19 patients have been analyzed to better comprehend their disease prognosis and management. Furthermore, rising demand for personalized medicines is expected to fuel industry growth over the forecast period.

In April 2020, Caris Life Sciences announced the submission of Pre-Market Approval applications for MI Transcriptome CDx to the USFDA. This precision medicine assay includes important companion diagnostic biomarkers; however, data management in transcriptomic research and the lack of effective bioinformatics tools remain major obstacles in this industry.

Get additional highlights on major revenue-generating segments, Request an RNA analysis market sample report at https://market.us/report/rna-analysis-market/request-sample/

Key Takeaway:

  • By the product type’s analysis, the kits and reagent segment with 57% market share.
  • By technology analysis, Real Time-PCR (qPCR) Technology segment dominates the market with a 44% market share.
  • By Application Analysis, the clinical diagnostics segment dominates the market with a 37% market share.
  • By End-User analysis, Government Institutes & Academic Centres segment dominates the market 35% market share.
  • In 2022, North America dominated the market with the highest revenue share of 41%.
  • APAC is expected to grow at a greater pace owing to affordable prices, increasing medical tourism, as well as hospitals and clinics, among other factors.

Factors affecting the growth of the RNA analysis market

  • Advances in Technology: One of the primary drivers of growth within the RNA analysis industry has been advances in technology such as next-generation sequencing (NGS) and single-cell sequencing. These tools make it possible to analyze RNA more precisely than ever before, providing researchers with new insights into disease mechanisms and drug development.
  • Personalized Medicine Is on the Rise: As personalized medicine becomes more widespread, so too does the demand for RNA analysis. RNA analysis provides valuable information about a patient’s genetic makeup, enabling doctors to customize treatments according to their individual needs.
  • Precision Medicine: Precision medicine strives to deliver tailored therapies to patients based on their genetic makeup. RNA analysis can provide essential data about gene expression patterns, which could identify potential drug targets and biomarkers for disease.
  • Increased Cancer Prevalence: Cancer is one of the leading causes of death worldwide, and its incidence is rising. RNA analysis is becoming an integral tool in cancer research, providing researchers with insights into biomarkers, developing new therapies, and monitoring treatment effectiveness.
  • Investment in Research and Development: The RNA analysis industry has seen significant investment in research and development over the last several years, leading to the development of new technologies, products, and services. This investment has fostered innovation and growth within the sector.

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Top Market Trends of RNA Analysis Market

RNA-based therapeutics are an increasingly popular trend in the RNA market. Recent advances in delivery technology, such as nanoparticle-based delivery systems, are fueling research into new RNA drugs that can target specific tissues and cells. RNA sequencing is a rapidly expanding trend in the RNA market. As more data becomes available from this process, companies that offer RNA sequencing services and related bioinformatics tools will see increased opportunities. Personalized medicine, which involves tailoring medical treatments to each patient based on their genetic makeup, is an emerging trend in the RNA market. RNA-based diagnostics and therapeutics can play a significant role in personalized medicine by enabling treatments tailored to each patient’s genetic profile. Gene editing technologies such as CRISPR-Cas9 are increasingly being employed in the RNA market to manipulate and alter RNA molecules. This presents opportunities for developing novel RNA-based therapeutics and diagnostics. Investments in RNA research are on the rise across governments, academic institutions, and private companies alike. This has created opportunities for collaboration and the development of new RNA-based products and technologies.

Market Growth

  • Increased Demand: As more people show interest in a particular product or service, demand will increase, propelling the market growth.
  • Technological Advancements: Technological innovations can open up new prospects for growth by allowing the creation of innovative products and services or improving existing ones.
  • Economic Conditions: Positive economic conditions such as low unemployment and growing consumer confidence can spur higher spending by consumers, ultimately stimulating market growth.
  • Regulatory Shifts: Regulators can alter and create new growth opportunities by expanding markets or lowering entry barriers.
  • Demographic Changes: Demographic changes such as aging, urbanization, and immigration can create new demands for products and services, stimulating market growth.
  • Competitive Landscape: As competition intensifies, companies may need to innovate and enhance their products or services to remain competitive, spurring market expansion.

Regional Analysis

Regional Analysis reveals that North America dominates the market with a 41% share. This growth can be attributed to the rapid development of structure-based drug designs, increased emphasis on transcriptomics research, and high investments in biopharmaceutical R&D. Additionally, rising investment in pharmaceutical research and drug development is fuelling the revenue growth of companies throughout this region. Asia Pacific, however, is expected to experience the fastest compound annual growth rate during the forecast period. Governments and enterprises in Asia Pacific countries are investing significantly more in biotechnology research, spurring research growth. The Japanese government and non-profit organizations have actively promoted biotechnology research in Japan, providing financial support for projects related to medicine and life sciences. This has encouraged scientists to investigate transcriptomics as a potential growth path. Furthermore, the growing attention paid to APAC countries due to their cost-effective manufacturing service is expected to present growth opportunities for manufacturers. Furthermore, strategic activities like partnerships will further promote this region’s development. In January 2020, Genetron Holdings Ltd. inked a partnership agreement with Thermo Fisher Scientific that will expand precision cancer monitoring and diagnosis within China’s public hospitals.

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Scope of the Report

Report Attribute Details
Market Value (2022) USD 9.58 billion
Market Size (2032) USD 34.37 billion
CAGR (from 2023 to 2032) 14%
North America Revenue Share 41%
Historic Period 2016 to 2022
Base Year 2022
Forecast Year 2023 to 2032

Market Drivers

  • The Demand for RNA-based Therapeutics is on the Rise: These drugs are increasingly being used to combat diseases like cancer, genetic disorders, and infectious illnesses. The development of new RNA drugs is fuelling this growth in the RNA market.
  • Advancements in RNA Sequencing Technologies: As RNA sequencing technologies advance rapidly, they generate vast amounts of RNA data. This has created a need for products and services that can handle and analyze this information, ultimately driving growth within the RNA market.
  • Government Funding of RNA Research: Governments around the world are investing in RNA research, leading to the development of new technologies and products in this market.
  • Collaboration between Academic and Industry Players: Academic and industry players are increasingly joining forces to develop novel RNA-based products and technologies, which are fuelling the growth of the RNA market by speeding up innovation and improving product quality.
  • Growing Demand for Personalized Medicine: RNA-based products and technologies are increasingly being employed in personalized medicine, which involves tailoring medical treatments to individual patients based on their genetic makeup. This has driven the growth of the RNA market by stimulating demand for RNA-based diagnostics and therapeutics.

Market Restraints

  • High Development Costs: Researching and developing RNA-based therapeutics and technologies can be costly, and clinical trials often have high failure rates. This may limit the development of new products and technologies within the RNA market.
  • Regulatory Challenges: RNA-based therapeutics and technologies require regulatory approval, which can be a lengthy and complex process. The regulatory obstacles and compliance demands may impede the development and commercialization of RNA products.
  • Limited Understanding of RNA Biology: While RNA research has made great strides in recent years, much remains to be discovered about its structure and function. This could hinder the development of innovative RNA-based products and technologies.
  • Competing Technologies: RNA-based therapeutics and technologies are facing competition from other technologies such as gene therapy, small molecules, and antibodies. This may restrict the growth of the RNA market by decreasing demand for RNA-based products and services.
  • Intellectual Property Challenges: As RNA research develops rapidly, there are challenges associated with protecting intellectual property. This could obstruct the creation of new RNA-based products and technologies by decreasing incentives for companies and researchers to invest in this area.

Market Opportunities

  • Development of New RNA-Based Therapeutics: Recent advances in RNA delivery technology, such as nanoparticle-based delivery systems, offer an exciting prospect for the market. By improving the efficiency and specificity of these therapies, researchers hope to discover treatments for many diseases with RNA.
  • Expansion of RNA Sequencing Services: The expansion of RNA sequencing services represents an exciting prospect in the RNA market. With increased access to sequencing data, demand is growing for services that can effectively handle and analyze it, creating opportunities for companies providing these services as well as related bioinformatics tools.
  • Personalized Medicine: Personalized medicine, which involves tailoring medical treatments to individuals based on their genetic makeup, presents an exciting opportunity in the RNA market. RNA-based diagnostics and therapeutics can play a pivotal role in personalized medicine by enabling treatments tailored to each patient’s genetic profile.
  • Investment Opportunities in RNA Research: Investments in RNA research offer an exciting prospect for the market. Governments, academic institutions, and private companies alike are investing in this area, creating numerous chances for collaboration and the development of new RNA-based products and technologies.
  • Integration of AI and Machine Learning: The convergence of artificial intelligence (AI) and machine learning presents a major opportunity in the RNA market. Combining their respective strengths, these technologies can be employed to analyze vast amounts of RNA sequencing data, leading to new therapeutic targets based on RNA as well as more precise treatments that utilize fewer resources.

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Report Segmentation of the RNA Analysis Market

Product Type Insight

The kits and reagent segment holds a 57% market share. This segment includes various reagents and kits used for RNA analysis, such as RNA isolation kits, RNA amplification kits, and sequencing kits. The demand for these reagents and kits is expected to grow rapidly due to the rising demand for RNA sequencing and transcriptome analysis. Companies such as Qiagen N.V., Bio-Rad Laboratories Inc., and New England Biolabs Inc. are some of the prominent players in this space. This segment encompasses various instruments used for RNA analysis like PCR instruments, microarrays, sequencers, and more. The instruments segment dominates the market due to rising demand for advanced technologies in RNA analysis and an expanding adoption of next-generation sequencing (NGS) technologies. Companies such as Illumina Inc., Thermo Fisher Scientific Inc., and Pacific Biosciences of California Inc. are key players in this sector which offers various reagents and kits for RNA analysis like RNA isolation kits, RNA amplification kits, and sequencing kits. The reagents and kits segment is expected to witness significant growth due to rising demand for RNA sequencing and transcriptome analysis. Companies like Qiagen N.V., Bio-Rad Laboratories Inc., and New England Biolabs Inc. are some of the key players in this space. This market encompasses various RNA analysis services such as sequencing, gene expression analysis, and transcriptome analysis. This space is expected to grow rapidly due to the increasing outsourcing of these types of tasks by biotech and pharmaceutical companies. Companies like Eurofins Scientific SE, GenScript Biotech Corporation, and BGI Group are some of the key players in this space.

Technology analysis

Technology analysis reveals that Real Time-PCR (qPCR) Technology commands the majority share of the market with 44% share. This high share was due to the widespread adoption of PCR for COVID-19 diagnostic purposes around the globe. QPCR is an ideal and sensitive method for probing small numbers of transcripts across a wide range of samples, providing high sensitivity detection of SARS-CoV-2, evaluation of viral RNA in various clinical samples, identification of mutations associated with SARS-CoV-2, as well as evaluation of anti-SARS drugs. Thus, the COVID-19 pandemic served as a stimulus for industry growth. Furthermore, quantitative Real-Time PCR is employed to conduct a comparative analysis between transcriptomes from the host and viral samples. Sequencing is expected to see a huge surge in the coming years due to improvements in next-generation and SMRT sequencing technology, as well as several companies providing single-cell RNA sequencing services and the rise of bioinformatics algorithms.

Application Insight

By Application Analysis, The Clinical Diagnostics Segment Dominates The Market With a 37% Market Share. RNA analysis is increasingly being employed in clinical diagnostics to aid diagnosis and prognosis for various diseases. The clinical diagnostics market is expected to expand rapidly due to the rising demand for personalized medicine and the rising adoption of RNA-based diagnostic tools. Companies such as Roche Diagnostics, Thermo Fisher Scientific Inc., and Qiagen N.V. are some of the key players in clinical diagnostics. RNA analysis plays a pivotal role in drug discovery, from target identification and validation to lead optimization and pharmacodynamics and pharmacokinetic studies. The drug discovery segment is projected to grow at an impressive rate due to the increasing demand for novel and effective therapeutics. Companies such as Gilead Sciences Inc., Novartis International AG, and Pfizer Inc. are some of the key players within this space. RNA analysis is widely employed in toxic genomics for the identification of genes related to toxicology and the construction of predictive toxicity models. The toxic genomics segment is expected to experience rapid growth due to rising demand for toxicity testing and the development of safer drugs and chemicals. Competitive transcriptomics is an increasingly popular application of RNA analysis that involves the comparison of gene expression profiles across various organisms or conditions. The competitive transcriptomics segment is expected to experience rapid growth due to rising demand for comparative genomics and the identification of evolutionary and ecological factors. Companies such as Illumina Inc., Pacific Biosciences of California Inc., and Oxford Nanopore Technologies Ltd. are some of the key players in this space.

End User Insight

By End-User analysis, Government Institutes & Academic Centres segment dominates the market 35% market share. The adoption rate of high throughput technologies for RNA analysis by government institutes and academic centers is driving the segment growth. Transcriptomics applications in drug discovery are fuelling demand across pharmaceutical, biotechnological, pharmaceutical, and clinical diagnostic industries alike. Furthermore, research in drug discovery contributes to market size just like clinical diagnostics research does; for instance, TORNADO-seq was developed in April 2021 – an RNA sequencing-based platform to monitor gene expression for studying cell phenotypes in organoids.

For more insights on the historical and Forecast market data from 2016 to 2032 – download a sample report at https://market.us/report/rna-analysis-market/request-sample/

Market Segmentation

Based on Product Type

  • Kits & Reagents
  • Instruments
  • Services

Based on Technology

  • Real Time-PCR (qPCR) Technology
  • Sequencing Technology
  • Microarray Technology
  • Other Technologies

Based on Application

  • Clinical Diagnostics
  • Drug Discovery
  • Toxic genomics
  • Competitive Transcriptomics

Based on End-User

  • Government Institutes & Academic Centres
  • Pharmaceutical & Biotechnology Companies
  • Contract Research Organizations (CROs)
  • Hospitals & Clinics
  • Other End-Users

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

Competitive Landscape

The industry is highly fragmented, featuring numerous small, mid, and large players that compete by adopting organic growth strategies such as product development and regional expansion to expand their market presence. For instance, in May 2021 Bio-Rad Laboratories Inc. released the SEQuoia RiboDepletion Kit for next-generation (NGS) sequencing which can improve assessment efficiency by eliminating irrelevant rRNA fragments from RNA sequencing libraries. Some key players in the global RNA analysis market include some of the major players include:

  • Agilent Technologies, Inc.
  • Hoffmann-La Roche AG
  • Illumina, Inc.
  • QIAGEN
  • Thermo Fisher Scientific, Inc.
  • Eurofins Scientific
  • Merck KGaA
  • Bio-Rad Laboratories, Inc.
  • Pacific Bioscience of California, Inc.
  • Affymetrix, Inc.
  • Danaher Corp.
  • Promega
  • Other Key players

Recent Development of the RNA Analysis Market

  • June 2022: Bio-Rad Laboratories introduced their SEQuoia Express Stranded RNA Library Prep Kit, offering biopharmaceuticals and analysis scientists an easy-to-use solution for creating robust libraries to facilitate efficient RNA-Seq workflows for comprehensive transcriptome profiling. Furthermore, this kit offers cost efficiency and automation compatibility – two essential qualities in today’s library era.
  • Mar-2022: Illumina released TruSight Oncology Comprehensive, a single test that evaluates multiple tumor genes. This kit encompasses mutations as well as current and emerging biomarkers linked to European Society for Medical Oncology guidelines, clinical trials, and drug labels in order to maximize the chances of discovering actionable data from each patient’s biopsy.
  • December 2021: Eurofins Technologies released the GSD Nova Type Detect + Select K417N SARS-CoV-2 test kit as an efficient and cost-effective method to verify Omicron variants before specimens undergo whole genome sequencing. This new kit promises an accurate solution for this task.

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Retail Analytics Market worth $25.0 billion by 2029 – Exclusive Report by MarketsandMarkets™

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CHICAGO, March 28, 2024 /PRNewswire/ — Adoption of real-time capabilities and sophisticated analytics, such as artificial intelligence, for omnichannel integration and improved customer experiences is what the Retail Analytics Market will look like in the future. Partnerships for innovation, a rising emphasis on sustainability and ethical analytics, supply chain optimisation, in-store analytics, and a focus on data privacy and security will all be critical.

The Retail Analytics Market is projected to grow from USD 8.5 billion in 2024 to USD 25.0 billion by 2029, at a compound annual growth rate (CAGR) of 24.0% during the forecast period, according to a new report by MarketsandMarkets™. The Retail Analytics Market is expected to grow significantly during the forecast period, owing to various business drivers like the increasing increasing adoption of omni-channel retail strategies, exponential growth of e-commerce platforms, and proliferation of data generated through diverse channels is also responsible for driving the market’s growth.
Browse in-depth TOC on “Retail Analytics Market”
300 – Tables 75 – Figures310 – Pages
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=123460609
Scope of the Report
Report Metrics
Details
Market size available for years
2019–2029
Base year considered
2023
Forecast period
2024–2029
Forecast units
USD (Billion)
Segments Covered
Offering, Business Function, Application, End User, and Region
Geographies covered
North America, Asia Pacific, Europe, Middle East & Africa, and Latin America
Companies covered
Microsoft (US), IBM (US), SAP (Germany), Oracle (US), Salesforce (US), MicroStrategy (US), SAS Institute (US), AWS (US), Qlik (US), Teradata (US), WNS (India), HCL (India), Lightspeed Commerce (Canada), RetailNext (US), Manthan Systems (India), Fit Analytics (Germany), Trax (Singapore), ThoughtSpot (US), RELEX Solutions (Finland), Tredence (US), Creatio (US), Solvoyo (US), datapine (Germany), Sisense (US), EDITED (UK), Retail Zipline (US), ThinkINside (Italy), Dor Technologies (US), Triple Whale (Israel), Flame Analytics (Spain), Alloy.ai Technologies (US), Conjura (UK), Kyvos Insights (US), Pygmalios (Slovakia), and SymphonyAI (US)
 
By Software by analytics type, the predictive analytics segment to register for the largest market size during the forecast period.
By software by analytics type, the predictive analytics segment is expected to register the largest market size during the forecast period. Predictive analytics software can help forecast sales volumes, identify demand fluctuations, and predict customer preferences, enabling retailers to optimize pricing strategies, allocate resources efficiently, and tailor marketing campaigns to target specific customer segments. Recent advancements in predictive analytics technology, including the integration of AI and machine learning algorithms, have further enhanced the capabilities of predictive analytics software, enabling retailers to gain deeper insights, make more accurate predictions, and drive greater business value.
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By services, managed services to register for the highest CAGR during the forecast period.
The managed segment of the Retail Analytics Market is growing rapidly. Managed service providers (MSPs) offer tailored solutions that cater to the unique needs and challenges of retailers, delivering insights that drive operational efficiency, enhance customer engagement, and drive revenue growth. MSPs employ skilled professionals with expertise in data analysis, machine learning, and retail industry trends, enabling retailers to harness the full potential of their data assets. Additionally, managed services provide scalability and flexibility, allowing retailers to adapt to changing business requirements and market dynamics without the need for significant investments in infrastructure or personnel.
By region, Asia Pacific accounted for the highest growth rate during the forecast period.
Asia Pacific is witnessing significant growth in the Retail Analytics Market. The surging popularity of e-commerce, with regions like China and India leading the charge, is a major growth driver. Retailers are increasingly reliant on data to understand online consumer behaviour, optimize pricing and promotions, and personalize marketing efforts. Additionally, the growing adoption of the Internet of Things (IoT) in stores is generating vast amounts of data on customer traffic, product interaction, and inventory levels.
Top Key Companies in Retail Analytics Market:
Some major players in the Retail Analytics Market include Microsoft (US), IBM (US), SAP (Germany), Oracle (US), Salesforce (US), MicroStrategy (US), SAS Institute (US), AWS (US), Qlik (US), Teradata (US), WNS (India), HCL (India), Lightspeed Commerce (Canada), RetailNext (US), Manthan Systems (India), Fit Analytics (Germany), Trax (Singapore), ThoughtSpot (US), RELEX Solutions (Finland), Tredence (US), Creatio (US), Solvoyo (US), datapine (Germany), Sisense (US), EDITED (UK), Retail Zipline (US), ThinkINside (Italy), Dor Technologies (US), Triple Whale (Israel), Flame Analytics (Spain), Alloy.ai Technologies (US), Conjura (UK), Kyvos Insights (US), Pygmalios (Slovakia), and SymphonyAI (US).
Recent Developments:
In February 2024, IBM announced the availability of the popular open-source Mixtral-8x7B large language model (LLM), developed by Mistral AI, on its Watsonx AI and data platform, as it continues to expand capabilities to help clients innovate with IBM’s own foundation models and those from a range of open-source providers.In January 2024, IBM announced its collaboration with SAP to develop solutions to help clients in the consumer-packaged goods and retail industries enhance their supply chain, finance operations, sales and services using generative AI.In January 2024, Salesforce announced the availability of Einstein 1 Studio, a set of low-code tools that enables Salesforce admins and developers to customize Einstein Copilot and seamlessly embed AI across any app for every customer and employee experience.In November 2023, MicroStrategy announced the availability of MicroStrategy ONE in the AWS Marketplace. By bringing together MicroStrategy’s powerful generative artificial intelligence (AI) capabilities for business intelligence (BI) and the scalability and reliability of Amazon Web Services (AWS), customers can now access a ready solution for deploying trusted AI at scale for analytics.In September 2023, Oracle showcased new AI-powered capabilities within Oracle Analytics Cloud. Leveraging the Oracle Cloud Infrastructure (OCI) Generative AI service, the new capabilities assist analytics self-service users to conduct sophisticated analysis and make better business decisions without having to wait for data scientists or IT teams more quickly and efficiently.Inquire Before Buying@ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=123460609
Retail Analytics Market Advantages:
Retailers can better fulfil customer demand by optimising pricing, promotions, inventory management, and product assortment with the use of retail analytics, which offers insights into customer behaviour, preferences, and trends.Retail analytics enables merchants to enhance the overall shopping experience, personalise marketing campaigns, and make customised product recommendations by evaluating customer data from many touchpoints. This increases customer happiness and loyalty.Retail analytics forecasts demand, identifies slow-moving commodities, and optimises replenishment procedures to help merchants maximise inventory levels, minimise stockouts and overstock situations, and increase supply chain efficiency.Through the automation of manual operations, the streamlining of procedures, and the identification of opportunities for cost reduction and performance improvement throughout the retail value chain, from procurement to distribution, retail analytics solutions increase operational efficiency.By helping companies to anticipate market trends, spot new business possibilities, and respond swiftly to shifting customer tastes and shifting market dynamics, retail analytics gives merchants a competitive edge that boosts sales and market share.Through the analysis of trends and abnormalities in transaction data, as well as the mitigation of fraud-related risks and revenue loss, retail analytics assists retailers in detecting fraudulent activity, including fraudulent transactions and refunds.Retail analytics gives businesses the ability to better allocate marketing expenditures, maximise marketing return on investment, and enhance the efficacy of customer acquisition and retention strategies by evaluating the success of marketing campaigns and promotions.Retailers may foresee future trends, take proactive business decisions, and seize market opportunities by using predictive analytics tools to forecast sales, demand, and customer behaviour.Report Objectives
To define, describe, and predict the Retail Analytics Market by offering (software and services), business function, application, end user, and regionTo provide detailed information related to major factors (drivers, restraints, opportunities, and industry-specific challenges) influencing the market growthTo analyze the micro markets with respect to individual growth trends, prospects, and their contribution to the total marketTo analyze the opportunities in the market for stakeholders by identifying the high-growth segments of the Retail Analytics MarketTo analyze opportunities in the market and provide details of the competitive landscape for stakeholders and market leadersTo forecast the market size of segments for five main regions: North America, Europe, Asia Pacific, Middle East & Africa, and Latin AmericaTo profile key players and comprehensively analyze their market rankings and core competencies.To analyze competitive developments, such as partnerships, new product launches, and mergers and acquisitions, in the Retail Analytics MarketTo analyze the impact of recession across all the regions across the Retail Analytics MarketBrowse Adjacent Markets: Analytics Market Research Reports & Consulting
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Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
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Full Schedule Released for Hong Kong Web3 Festival 2024

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HONG KONG, March 28, 2024 /PRNewswire/ — Following the success of its record-breaking 2023 event, HK Web3 Festival is returning for its second edition from 6 to 9, April at Hall3FG, Hong Kong Convention and Exhibition Centre. Hosted by Wanxiang Blockchain Labs and HashKey Group, the Festival will convene over 160 game-changing projects, 100 media and 300+ notable speakers to exchange up-to-date knowledge, experiences, and views that are expected to shape the narrative around Web3 and blockchain.

With the event taking place in the innovation-rich city of Hong Kong, the Web3 Festival 2024 converges East and West ideologies. It sets four regular conference areas and an open stage, providing an avenue for eclectic discussions around Web3, idol performance, Web3 professional esports tournament, and more!
We’re proud to present our distinguished sponsors and exhibitors:
Title Sponsors: DWF Labs, Internet Computer, MEET48, OKX Web3, TON Foundation, ZA BankStrategic Partner: Cyberport, Hong Kong Trade Development Council (HKTDC), InvestHKPlatinum Sponsors: Chainlink, Cregis, Deepcoin Labs, Gate.io, Gunzilla Games, NEAR Protocol, Neo, Polkadot, Qtum, SlowMist, Telos Foundation, Victory Securities, Zetrix, ZircuitCo-organizers: Arkreen, AWS, Bitcoin Magazine, Nervos CKB, PlatON, SNZ, 香港虚拟资产行业协会, ZANSide Event Partners: ABGA, Animoca Brands & Chromia, Aptos, DRK Lab, Filecoin Foundation, GoPlus, HashKey Exchange, SlowMist, TON Foundation, UOVABOXGold Sponsors: AltLayer, Cards Ahoy!, CESS, Kaspa, Kava, 鲲KUN, Mask Network, PortUS, Roam, Rollux, X-mintPrimary Exhibition Sponsors: Alfa1, Alibaba Cloud, 百道数据, BNB Chain, CertiK, EMC, Google Cloud, Hotcoin, MicrovisionChain, OneKey, XT.comSecondary Exhibition Sponsors: Alchemy Pay, Bitget Wallet, Bitroo, CE Innovation Capital, Cell Studio, Conflux, Digital Reserve, Initiate Capital, Japan Open Chain, Nervape, NovaX Finance, OceanFi, PIN Labs, TynmoSpace, VoiceStreet, W3SA-HKTertiary Exhibition Sponsors: 100x, Akamai, Alaya AI, Bit.Store, Bullish, ChainUp, Cloud Ace, Daling Research, dappOS, Dexpert.io, ELLIPAL, EngageLab, Hacken, ICG Trading, imToken, Keyblock Solutions, Landlord, MoreLogin, MuskEX, Notifi, OpenSand, PingCAP, PrivateAI, 山海坞, StaFi, TaxDAO, Tencent Cloud, TokenPocket, TruBit, UD Blockchain, WatchX, 伊克罗德信息+IOST, zCloak NetworkKnowledge Partners: Brevis, CoinMarketCap, Flow TradersCoffee Bar Sponsor: ZetrixOpen Stage Sponsors: KongGold, 玛特宇宙, MATR1X & GEDA Esports, NovaX Finance, NuLink, OceanFi, The SandboxWelcome Bag Sponsor: d.id, VIP3Exclusive Video Partner: SpinorApril 6th – FIRST DAY
The opening ceremony will kick off at the Main Stage on the morning of April 6th. Speakers of the ceremony will include:
Dr. Xiao Feng, Chairman, Wanxiang Blockchain; Chairman and CEO, HashKey GroupMichael Wong Wai-lun, GBS, JP, Deputy Financial Secretary, Hong Kong Special Administrative RegionDeng Chao, Head, HashKey Singapore, CEO, HashKey CapitalCathie Wood, Founder, CEO and CIO, ARK InvestDuncan Chiu, Legislative Council Member (Technology & Innovation Constituency), Hong KongSimon CHAN, Chairman, Hong Kong Cyberport Management Company LimitedGenki Oda, Chairman, Japan Virtual and Crypto assets Exchange AssociationDavid Lee, Chairman, Global FinTech InstituteYang Jinyan, Secretary General, Hong Kong Virtual Assets Industry AssociationDominic Williams, Founder and Chief Scientist, DFINITY FoundationSteve Yun, President, TON FoundationJohn Hyman, Chief Investment Officer, Telegram APPOn the afternoon of April 6, intriguing sessions will take place concurrently at the Main Stage, Stage 1-4, and Open Stage.
–          Main Stage – Journey to Building Hong Kong into a Digital Economic Hub
Focusing on Hong Kong policies, regulation and fintech development, this session will gather professionals and project leaders including:
Livio Weng, COO, HashKey Group; CEO, HashKey ExchangeEugene Ng, Founding Partner, DWF LabsHong, President, OKX,Charlie Chen, Vice President, Asia Pacific, ArchblockRita Liu, CEO, RD TechnologiesRaagulan Pathy, Vice President, Asia Pacific, CirclePaul Kremsky, Head of Business Development, CumberlandJordan Dunne, Head of DeFi, TON Wallet in TelegramSergey Nazarov, Co-Founder, ChainlinkAlice Liu, Research Lead, CoinMarketCapDevon Sin, Alternate Chief Executive, ZA BankFrank Zhang, Executive Director, OKX Hong KongPaolo Chen, CSO, VDXDarshan Vaidya, CEO & Co-Founder, CredoraRichard Teng, Chief Excutive Officer, BinanceAnna Liu, General Manager of Tokenisation, HashKey GroupEmily Parker, Former CoinDesk and US State DepartmentJupiter Zheng, Partner, HashKey CapitalDeborah FUHR, ETFGI, Managing Partner, Founder, OwnerGiovanni Vicioso, Global Head of Cryptocurrency Products, CME GroupGiselle Lai, Associate Investment Director of Digital Assets, Fidelity InternationalJean-Francois MESNARD-SENSE, Senior Vice President & Head of Exchange Traded Products, Hong Kong Exchanges and Clearing LimitedDerek Wang, Head of Sales & Client Service, Bosera InternationalChen Yu, Chief Advisor, KUN-          Stage 1 – GameFi New Paradigm
Co-organized by Gunzilla Game, this session will dive into the magic of Web3 games, as well as user behaviors in Web2 and Web3 games. It will feature an eclectic lineup of speakers from across the globe:
Yat Siu, Co-Founder and Chairman, Animoca BrandsKevin Shao, Co-Founder of Bitrise Capital, Executive Chairman of ABGA, Advisor to ICC GroupJerry Liu, Gunzilla GamesArron Goolsbey, COO, Mythical GamesJason Gu, CEO, NetEase Chain; Game Advisor, Cards Ahoy!Andy Dan, Head, HashKey JapanRyo Matsubara, Representative Director, Oasys Pte. Ltd.Seihaku Yoshida, CEO, HashPortYASUSHI TERAMURA, Head of Blockchain Business, gumi Inc.Yoshiaki Harai, Director, Brilliant CryptoPär Helgosson, Head of Web3 and Metaverse, PARIS SAINT-GERMAINLeo, CGO, CARVAnthony Blackburn, Growth Lead, Gunzilla GamesEllidan Cober, SMILECOBRA PTE. LTD. O-PrincipalAnn Chien, Partner, IVCRiccardo Sibani, CPO, My Neighbor AliceMichael Tong, Founder, Xterio; CSO, FunplusViola Lee, COO, Metalist Game; Operation Manager, Cards Ahoy!-          Stage 2  – Web3+AI
Co-organized by AWS, the “Web3+AI” forum will be held at Stage 2, discussing trending topics around the integration of Web3 and AI. Confirmed speakers of this session include:
John Liu, Head of Products for Blockchain and Web3, AWSYike Guo, Provost, The Hong Kong University of Science and TechnologyYu Du, General Manager, Wanxiang Blockchain Labs; Initiator, Future3 CampusSeth Ginns, Managing Partner and Head of Liquid Investments, CoinFundYilin Hu, Associate Professor of Department of the History of Science, Tsinghua University; Founder, HuawenDaoSY Lee, CEO and Co-founder, Story ProtocolEthan Sun, Co-Founder, MyshellYu Hu, CEO, Kaito.aiSaneel Sreeni, Founding Member, Ritual.netAmber, Co-Founder, No CapitalAkina Ho, Co-Founder, AllStarsWomen DAOAnnie Hui, COO and Co-Founder, Custonomy Company LimitedMegan, CEO, RegtankTess Hau, Founder, Tess VenturesThe “Web3+AI” forum will also feature a special session, where Dr. Xiao Feng and John Liu will announce the projects selected into Future3 Campus Cohort III, powered by Wanxiang Blockchain Labs and partnered with HashKey Capital.
–          Stage 3 – Digital Asset Custody and Blockchain Security
Sessions on Stage 3 will feature a wide range of topics on digital asset custody and blockchain security, joined by professionals and experts including:
Pauline Fan, Senior Vice President, Fintech, InvestHKKang Li, Chief Security Officer, CertiKAnthony Chung, Chief Product Executive, CregisKeywolf, Partner and CPO, SlowMistEskil, Co-Founder, GoPlusYiqun, Product Lead, imTokenXiao Zhang, Founder, zCloak NetworkZack Yang, Co-Founder, FOMO PayChristoph Simmchen, Co-Founder, Safe Ecosystem FoundationYQ, Founder, AltLayerMichael Chen, Head, HashKey WealthLily Z. King, COO, CoboTRUNG BANH, Co-Founder & Chief Product Officer, HOLDSTATIONMichael Lau, Senior Vice President & Global Head of Sales, BullishMatthew Le Merle, Managing Partner and CEO, Blockchain Coinvestors-          Open Stage
The Open Stage will feature various trending topics around Web3, bringing together bigwigs like:
Tim Yang, Founder and CEO, .bitCharles, Co-founder, VIP3Viola Lee, COO, Metalist Game, Operation Manager, Cards Ahoy!Yilin Hu, Associate Professor, Department of the History of Science, Tsinghua UniversityBo Chen, CEO, 玛特宇宙                            April 7th – Day II
–          Main Stage – Layer1 + Layer2
The “Layer1+Layer2” Forum will be held on April 7th at the Main Stage, focusing on trending topics such as the latest landscape of Layer1, sustainable public chain, successful applications, Layer2 development, uses cases, ecosystem service and applications, best practice, investment trend, BTC Layer2, and more. Confirmed speakers of this forum include:
Avery Ching, Co-Founder and CTO, Aptos LabsDato Fadzli Shah, Co-Founder, ZetrixLily Liu, President, Solana FoundationScott Stuart, Co-Founder, KavaHaseeb Qureshi, Managing Partner, Dragonfly CapitalKai Xu, COO, MEET48Eli Ben Sasson, CEO and Co-founder, StarkWareSmokey, Co-Founder, BerachainRoss Zhang, Managing Partner, SNZ CapitalTom Ngo, Executive Lead, MetisTerence Lam, COO, TaikoSergei Medvedev, CMO, IntMaxLeo Fan, Founder, CysicYQ, Founder, AltLayerAngel Xu, Co-founder, ZircuitSam Seo, Representative Director, Klaytn FoundationSreeram Kannan, CEO, EigenLabsKeith Chen, Managing Director, SNZ CapitalMo Dong, Co-founder, BrevisDaniel Marin, CEO, NexusGeorgi Koreli, Founder, HinkalFubiao Xia, Co-founder, PADO LabsDennis Song, Chief Security Officer, Mind NetworkRyan Chen, Managing Partner, HashKey CapitalLasse Clausen, Founding Partner, 1kxAlexander Pack, Managing Partner, HackVCVineet Budki, Managing Partner and CEO, Cypher CapitalGavin Wang, CIO, SNZ CapitalEmma Cui, Co-Founder & Managing Partner, Longhash VenturesRena Shah, VP of Product & Operations (stacks ecosystem), Trust MachinesCipher, Co-founder, Cell StudioEason, CEO, TerpLayerBlue, Partner and CTO, SlowmistJan Camenisch, CTO, DFINITY Foundation-          Stage 1 – DePIN
DePIN represents a new paradigm for building and managing physical infrastructure, and is undoubtedly a game changer for the crypto sector. Get ready to explore the current DePIN landscape and RWA at this forum co-organized by arkreen Stage 1, where you’ve got the chance to connect with an all-star lineup of guest speakers, top DePIN project founders, investors, and visionaries.
Abhay Kumar, CEO, Helium FoundationAndy Chatham, Co-Founder, DIMOSal Gala, Founder, EV3Ivy Peng, Founder, Open Infra CapitalYu Du, General Manager, Wanxiang Blockchain Labs; Initiator, Future3 CampusLeo Lin, Founder, arkreenYuan Gao, Head of Growth, Helium FoundationKuleen Nimkar, Head of DePIN, Solana FoundationHenrique Centieiro, Research Manager, Hashkey CapitalAdrian Clevenot, Digital Assets Markets Lead, PwC HKYves La Rose, CEO, EOS Network FoundationRichard Liu, Co-founder & Co-CEO, Huma FinanceHenry Zhang, Founder & CEO, DigiFTKazuhiro Sudo, COO, BOOSTRYAbba Garba, Head of Product and Partnership, arkreen NetworkFredrik Ahlgren, CEO and Co-founder, Srcful.ioDayon Elings, Business Developer, bloXmoveTing, Founder, PowerPodSascha Kubisch, Co-Founder & CTO, PenomoAlex, Co-Founder, EMCDiana Biggs, Partner, 1kxKang Shen, Founder, Hash GlobalRay Xiao, Senior Director, IOSG VenturesEo Hao, Co-Founder, Future Money GroupDexter Luo, General Manager of Ecosystem Partnership, Fibocom WirelessJose Marcelino, Solutions Architect, RAKwirelessJoey Jiang, VP, SeeedstudioYiming Wang, Partner, JDIYuning Liang, Founder & CEO, Xcalibyte & DeepComputingDaniel Andrade, CTO & Co-Founder, HotspottyNico Burkart, Partnerships & Business Development, Streamr NetworkLuis Gruson, Co-Founder and BD Lead, KwilChess, CEO, GMNetworkAndrew Law, Research Scientist, IoTeX-          Stage 2 – The Future of Web3 & Web3 Payment Re-imagined
The morning session at Stage 2 will convene Web3 bigwigs across the globe to explore the next big thing that’s shaping the future of Web3.
Chae Ho Shin, CFO, 1inchAkif, Regional Growth Lead, Deepcoin LabsKevin Lee, CEO, Gate.HKJehan Chu, Founder, Kenetic Capital;Uri Ferruccio, CEO, ConcordiaAugie, Head of Asia, CMTStanley Huo, Partner & Head of Asia, Hivemind CapitalSteve Lee, Co-Founder & Managing Partner, Neoclassic CapitalBalal Khan, Co-founder, ZKEX.comAdrian Wang, Founder and CEO, MetalphaShawn Lim, Founder & Partner, Artichoke CapitalPaul Kim, Notifi CEOSmokey, Co-Founder, BerachainTim Wang, COO, Elixir NetworkRushi Manche, CEO, Movement LabsThe spotlight will be on Web3 payment at the afternoon session co-organized by PlatON, discussing topics like “Innovative use cases in Stablecoins”, “Global Regulatory Focus Trends Discussion in Web3 Payment”, and more. It will bring together esteemed speakers including:  
Abdallah Abu-Sheikh, Co-Founder of Astra Tech & CEO of BotimCharles Huang, Chairman of DCS Fintech HoldingsAnson Zeall, Chief Strategy Officer and Head of Compliance at dtcpayAdam Farhat, Director of Partnerships, Alchemy PayHelen Chen, Senior Director, Payment AsiaLi Hui, CEO, FatpayCeridwen Choo, CEO, DCS InnovDaniel Lee, Head of Web3, Banking CircleLaurence Yuan, Partner, Fangda PartnersPaul Li, President, Hong Kong Fintech Industry AssociationEmil Chan, Co-Chair, Hong Kong Digital Finance AssociationChen Yu, Chief Consultant, KUNJason Gu, CEO, NetEase ChainAmor Maclang, Convenor, International Digital Economies Association-          Stage 3 – Web3 Infrastructure & Web3 Mass Adoption
At the morning session at Stage 3, a wide range of topics will be discussed around Web3 infrastructure. Intriguing discussions will surely ignite the stage with the participation of world-leading projects like Qtum, Polygon Labs, Conflux, Neo, Google Cloud, Kaspa, Avail, ChainIDE, BNBChain, Astar, Ripple, Manta, and more. Confirmed speakers of this session include:
Marc Boiron, Chief Executive Officer, Polygon LabsMiguel Palencia, Co-Founder, QtumMing Wu, Co-Founder & CTO, ConfluxDa Hongfei, Founder, NEORishi Ramchandani, Head of APAC Web3 GTM, Google CloudJagdeep Sidhu, CEO/President, SYS Labs/SYS FoundationShai Wyborski, Core Researcher, GHOSTDAG coauthor, KaspaAnurag Arjun, Co-Founder, AvailLing, Founder of ChainIDE, Executive Committee Member of ETH RiyadhSarah, APAC BD Lead, BNBChainMingshi Song, Head of Strategy, Astar NetworkEmi Yoshikawa, VP, Strategic Initiatives, RippleKenny Li, Co-Founder, Manta NetworkThe afternoon session aims to delve deep into the transformative concepts and technologies that are driving the mass adoption of Web3. Co-organized by ZAN, this forum will gather professionals and visionaries exchange insights and shed light on solutions towards Web3 mass adoption. It will feature an all-star lineup of speakers including:
Bin Chen, General Manager, Shanghai Wanxiang Blockchain IncVictor Zhou, CEO of Namefi, Ethereum EIP EditorHUI ZHANG, CEO, ZANYisi Liu, Co-Founder and CTO, Mask NetworkDongliang Guo, VP, Product & Solutions, Alibaba Cloud InternationalRich Rines, Initial Contributor, Core DAOZheming Lin, Co-Founder and CEO, Mempool and DotWalletCobe Zhang, Head of Web3 and AI products, ZANCipher, Co-founder, Nervos; Founder, Cell StudioJerry Li, CEO, Artela NetworkPeet, Co-Founder, Trusta LabsKai Xu, COO, MEET48Ken, Partner & Head of APAC Investment, Web3Port FoundationSam, Operation Manager, TokenPocketShier, Co-Founder, NFTScan LabsCharles, Co-Founder, VIP3Rene Z, Founder, CharacterXDaniel Dai, Partner, LFGEva Beylin, Director, The GraphTegan Kline, CEO, Edge & Node-          Open Stage
Notable speakers worldwide will be gathered at the Open Stage for ground-breaking discussions on Web3 and blockchain:
Jason Runyon, CEO, NovaXOlaf Niggemann, CEO, OceanFiKathy Qu, Research Manager, HashKey CloudJason Choi, Head of Strategy, CointelegraphSreeram Kannan, Founder, EigenlayerDavid Tse, Co-Founder, BabylonChainDorothy Liu, Head of Growth, Altlayer.ioLucas Kozinski, Founding Contributor, Renzo ProtocolRanvir Rana, Co-Founder, WitnessChainErich Wong, Head of Growth of, The Sandbox Hong KongRachel Lee, Senior Manager, FinTech, CyberportAlso enjoy an excellent idol performance like no other given by SNH48 Group!
April 8th – DAY III
Get yourself immersed in a crypto journey on April 8th with side-event partners as they take the center stage at the Festival.
Main Stage: TON At Web3 Festival
Stage 1 (Morning): Only On Aptos
Stage 1 (Afternoon): Hong Kong Web3 Festival 2024 Official GameFi Side Event
Stage 2 (Morning): HashKey Exchange: New Era for Compliant Trading
Stage 2 (Afternoon): GoPlus User Security Summit HongKong
Stage 3 (Morning): FIL Hong Kong
Stage 3 (Afternoon): Hacking Time: Web3 Security and Compliance
Web3 Festival Side-events:https://en.web3festival.org/Side_Event.html
An exciting Web3 professional esports tournament will kick off at the Open Stage from April 8 to 9, hosted by Matr1x and GEDA Esports. Get prepared!
April 9th – LAST DAY
The last day of the event will see exciting side-events organized by Animoca Brands & Chromia, DRK Lab, and UOVABOX, alongside two forums held by the hosts and co-organizers.
Forum – BTC Technology Development and Ecosystem Construction
This forum will take place at the Main Stage (morning) and Stage 3 (afternoon), with a special focus on the Bitcoin ecosystem. It will invite:
Jan, Architect, NervosJohn Lilic, Executive Director, TelosJohn Riggins, Partner, BTC IncJeff Ren, Partner, OKX VentureXing Kong, Founder, Bixin GroupShen Yu, Co-Founder & CEO, CoboDU JUN, CEO, SINOHOPEJeffrey Hu, Head of Investment Research, HashKey CapitalBen, Founder, Discoco labsArthur, Creator, AtomicalsCipher, Co-founder, Nervos; Founder, Cell StudioRena Shah, VP Products & Operations, Trust MachinesDavid Tse, Founder, BabylonJeff, Founder, Merlin ChainHan Tang, Founder, SeeDAOYunwen, Researcher, CryptapeZhao Zhang, CTO, OneKeyShawn, Head of Incubator, SeeDAOForest, Founder, Foresight Ventures; Chairman of The BlockJianping Kong, Founder, Nano LabsWang Feng, CEO & Founder, ElementBrutoshi, Co-Founder, Wizz WalletZhixiong Pan, Co-Founder, ChainFeedsKeith Chen, Managing Partner, SNZ CapitalJerry Liu, Founding Partner, Waterdrip CapitalAudrey Tang, Founder, DRK LabBMAN, Co-Founder, ABCDEForum- Restaking & DeFi
This forum will take place at the Stage 1 (morning). It will invite:
Arisa Toyosaki, Co-Founder and CEO, CegaPhilip Forte, CEO, ElixirCharles d’Haussy, CEO, dYdX FoundationJoseph Poon, CEO, WarpFiona Ma, Senior Associate, DWF VenturesJacob Ko, Founding Partner, SuperscryptMin Teo, Managing Partner and Co-Founder, EtherealAdam, Founding Partner, FinalityAlan Curtis, CEO, Rio NetworkTina Haibodi, External Strategy Lead, Eigen LabsForum- Tokenization
This forum will mark an official end to this incredible journey, where you’ve got the chance to connect with:
Yike Guo, Provost, The Hong Kong University of Science and TechnologyDuncan Chiu, Legislative Council Member (Technology & Innovation Constituency), Hong KongDr. XIAO Feng, Chairman of Wanxiang Blockchain, Chairman and CEO of HashKey GroupLeo Lin, Founder, arkreenCao Meiying, Co-Initiator, ThreeDAOLeo, Co-Founder & Chief Content Officer, Moore FinanceAlex, Co-Founder, VIP3Leo Li, CEO, HashKey CloudLoong Pui Fung Andrew, Principal Consultant, Cascade Capital LimitedKennix Chan, Executive Director, Victory Securities Company LimitedMerida PAN, COO, Magic Circle Technology LimitedHannah Cassidy, Partner, Herbert Smith Freehills; Asia Head, Financial Services RegulatoryJong-Goo Yi, Senior Foreign Attorney, Kim & ChangJay Lee, Partner, K&L Gates 
About Web3 Festival 
Hong Kong Web3 Festival is a premier Web3 event hosted by Wanxiang Blockchain Labs and HashKey Group, and organized by W3ME. Hong Kong Web3 Festival provides an open stage to foster collboration, explore the Web3 landscape and establish a shared vision of the digital future. Learn more at web3festival.org
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Aryaka’s 2024 Secure Network Transformation Report: 81% of IT Pros Say Hybrid Work Drives Demand for SASE and Zero-Trust Networking

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aryaka’s-2024-secure-network-transformation-report:-81%-of-it-pros-say-hybrid-work-drives-demand-for-sase-and-zero-trust-networking

70% seek SASE and SD-WAN convergence for simplified network security management
SANTA CLARA, Calif., March 28, 2024 /PRNewswire/ — CIOs, CISOs and IT leaders are drowning in complexity as they manage hybrid workforces, cloud adoption and the ever-evolving threat landscape. A new report from Aryaka®, the leader and first to deliver Unified SASE as a Service, reveals that Secure Access Service Edge (SASE) and Software-Defined Wide Area Networking (SD-WAN) are rapidly becoming essential tools for navigating this complex environment.

The Secure Network Transformation Report 2024 surveyed 202 IT, security and network professionals, director-level and above, across North America, EMEA and Asia. The findings paint a picture of the industry’s changing landscape and highlight key emerging trends:
Hybrid Everything Drives Demand for Flexibility: The rise of hybrid work arrangements, coupled with hybrid infrastructure and security deployments, is fueling the need for adaptable and secure network solutions. A significant 81% of respondents say hybrid work is driving demand for SASE and zero-trust networking. This highlights the critical role these technologies play in connecting a complex, hybrid world.SASE and SD-WAN: The Pillars of Modern Network Security: SASE and SD-WAN are no longer seen as niche solutions. The survey found that a staggering 84% of respondents believe SASE is either “mature” or “somewhat mature,” with an even higher number (91%) saying the same about SD-WAN. This maturation positions SASE and SD-WAN as trusted, complementary tools for modern network security strategies. SASE integrates security features with SD-WAN’s network optimization capabilities, ultimately simplifying management and strengthening security.Network and Security Convergence: A sizable majority (70%) of respondents indicated that they see value in converging SASE and SD-WAN solutions. The primary benefits for doing so are multi-pronged. 34% want more robust network operations and security, 24% want less operational burden and 19% want vendor consolidation.Zero-Trust Networking is a Cornerstone of Hybrid Work Security: As more organizations embrace hybrid work, securing access points becomes paramount. The survey revealed that 64% of respondents consider zero-trust security a crucial component of SASE for hybrid work deployments.The Secure Network Transformation Report 2024 also delves deeper into other industry trends. For example, the exponential growth of cloud-based applications and services, including Artificial Intelligence (AI), is placing a notable strain on traditional network architectures. These modern applications require secure, high-performance connections that can dynamically adapt to changing traffic patterns. The report found that 67% of respondents see managed services and SASE playing a greater role in managing these complex environments.
Additionally, the report explores the shift in enterprises moving away from expensive legacy Multiprotocol Label Switching (MPLS) services, with 76% planning to eliminate MPLS, either in the immediate future or in the next 2-3 years. Moreover, 10% of respondents have already eliminated MPLS completely.
“Our report shows that the IT and network security landscape is undergoing a major transformation driven by the rise of hybrid work models and the ever-increasing adoption of AI and cloud-based applications and services,” said Pete Harteveld, Chief Revenue Officer at Aryaka. “Aryaka is listening to its customers and the IT industry at large to deliver innovative solutions that address businesses’ most pressing needs. Our Unified SASE as a Service combines a unified single-pass architecture, global private network backbone, and security, observability and application performance capabilities into a single platform. That alone is unprecedented, but we also deliver it as a service, providing the security as well as the flexibility and affordability today’s IT leaders require.”
Aryaka’s Secure Network Transformation Report 2024 offers a comprehensive analysis of the findings and explores the implications for IT, network and security leaders. To download the full report, please visit: https://www.aryaka.com/reports-and-guides/secure-network-transformation-report-2024/
Additional Resources:For more on Aryaka, please visit: https://www.aryaka.com/Visit the Aryaka blog: https://www.aryaka.com/blog/Follow Aryaka on X: @AryakaNetworksVisit Aryaka on LinkedIn: https://www.linkedin.com/company/aryaka-networks/
About AryakaAryaka is the leader and first to deliver Unified SASE as a Service, the only SASE solution designed and built to deliver performance, agility, simplicity and security without tradeoffs. Aryaka meets customers where they are on their unique SASE journeys, enabling them to seamlessly modernize, optimize and transform their networking and security environments. Aryaka’s flexible delivery options empower enterprises to choose their preferred approach for implementation and management. Hundreds of global enterprises, including several in the Fortune 100, depend on Aryaka for cloud-based software-defined networking and security services. For more on Aryaka, please visit www.aryaka.com.
Technology Media/Analyst ContactLee RegalLumina Communications for [email protected]
Channel Media/Analyst ContactKhali HendersonSenior PartnerBuzzTheory (for Aryaka)[email protected]
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