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Cloud Analytics Market to Be Worth $135.4 Billion by 2031 – Exclusive Report by Meticulous Research®

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REDDING, Calif., June 6, 2024 /PRNewswire/ — Meticulous Research®—a leading global market research company, published a research report titled, ‘Cloud Analytics Market by Offering (Solutions, Services), Type (Predictive Analytics, Diagnostic Analytics, Prescriptive Analytics), Deployment Mode, Sector (BFSI, Retail & E-commerce, Healthcare & Life Sciences) and Geography—Forecast to 2031.’ According to this latest publication from Meticulous Research®, the cloud analytics market is projected to reach $135.4 billion by 2031, at a CAGR of 19.8% from 2024–2031.

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Cloud analytics refers to the use of cloud computing resources to analyze data, extract insights, and make data-driven decisions. It involves storing data in the cloud and leveraging various analytical tools and technologies, such as data warehouses, databases, business intelligence (BI) platforms, machine learning algorithms, and data visualization tools, to process and analyze that data.
The growth of this market can be attributed to several factors: the growing digitalization and the rise of big data technology, increasing connectivity through multi-cloud platforms, and the economic benefits of cloud-based solutions. However, security and privacy concerns may restrain the growth of this market.
Furthermore, the growing need for cloud analytics solutions among SMEs and increasing focus on customized and managed cloud services are expected to offer growth opportunities for the players operating in this market. However, the high adoption of traditional data warehouses is a major challenge impacting the growth of the cloud analytics market. Additionally, wearable medical devices and serverless computing are the prominent trends in this market.
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The cloud analytics market is segmented by offering (solutions {sales & marketing analytics, business intelligence, customer analytics, enterprise performance management, miscellaneous analytics, supply chain analytics, governance, risk, and compliance, data warehouse modernization}, services {professional services, managed services}), type (descriptive analytics, predictive analytics, diagnostic analytics, prescriptive analytics), deployment mode (public cloud, private cloud, hybrid cloud), sector (BFSI, healthcare & life sciences, media & entertainment, IT & telecommunication, government & defense, retail & e-commerce, manufacturing, energy &utilities, education, and other sectors) and geography. The study also evaluates industry competitors and analyses the market at the country and regional levels.
Based on Offering, the cloud analytics market is segmented into solutions and services. In 2024, the solutions segment is expected to account for the larger share of around 73.0% of the cloud analytics market. The segment’s large share is attributed to the growing adoption of customer analytics and sales & marketing analytics solutions, increasing R&D investment, rising focus on solution-centric capabilities, and economic benefits of cloud-based solutions. In addition, the benefits offered by the solutions segment, such as scalability, security & compliance, increased productivity, cost-efficiency, and improved customer insights, contribute to this segment’s growth. Also, this segment is projected to register a higher CAGR during the forecast period of 2024–2031.
Based on Type, the cloud analytics market is segmented into descriptive analytics, predictive analytics, diagnostic analytics, and prescriptive analytics. In 2024, the descriptive analytics segment is expected to account for the largest share of around 57.0% of the cloud analytics market.
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However, the predictive analytics segment is expected to register the highest CAGR during the forecast period of 2024–2031. This is due to the rising adoption of big data technologies, the advent of AI and ML technologies, the increasing demand for real-time analytic solutions, and the rising adoption of predictive analytics in the manufacturing sector.
Based on Deployment Mode, the cloud analytics market is segmented into public cloud, private cloud, and hybrid cloud. In 2024, the public cloud deployments segment is expected to account for the larger share of above 59.0% of the cloud analytics market.
However, the hybrid cloud segment is expected to register the highest CAGR during the forecast period of 2024–2031. The rapid evolution of new avenues for cloud-based deployments, growing demand for scalability, the rising need for agile and cost-effective computing, and the rising demand for computational power are expected to support the growth of this segment.
Based on Sector, the cloud analytics market is segmented into the BFSI, healthcare & life sciences, media & entertainment, IT & telecommunication, government & defense, retail & e-commerce, manufacturing, energy &utilities, education, and other sectors. In 2024, the BFSI segment is expected to account for the largest share of above 14.0% of the cloud analytics market. The large market share of this segment is attributed to the rising need among banks and other BFSI organizations to deploy cloud-based solutions to efficiently manage regulatory compliance, growing digitalization and rise in big data analytics, growing number of fin-tech start-ups demanding cloud-based solutions, and integration of advanced AI/ML algorithm. Also, this segment is projected to register a higher CAGR during the forecast period of 2024–2031.
Based on Geography, the cloud analytics market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. In 2024, North America is expected to account for the largest share of around 43.0% of the cloud analytics market. However, the Asia-Pacific cloud analytics market is projected to register the highest CAGR of 23.5% during the forecast period of 2024–2031. The rapid growth of this region is mainly driven by factors such as exerting efforts by market players to launch cloud analytics solutions, government initiatives and policies that support the adoption of cloud analytics solutions, and the growing adoption of cloud-managed services by small and medium-sized enterprises. Furthermore, rising government initiatives and market players’ efforts to launch advanced cloud analytics solutions are also supporting the growth of this regional market. For instance, in December 2023, NCS (Singapore) partnered with Google Cloud (U.S.) to accelerate the seamless integration of AI capabilities with cloud infrastructure that will be offered across Australia, Singapore, and the wider APAC region.
The key players operating in the cloud analytics market are Microsoft Corporation (U.S.) IBM Corporation (U.S.), Oracle Corporation (U.S.), Google, LLC (U.S.), SAP SE (Germany), TIBCO Software, Inc. (U.S.), Salesforce.Com (U.S.), SAS Institute, Inc. (U.S.), Amazon Web Services, Inc. (U.S.), Hewlett Packard Enterprise (U.S.), MicroStrategy (U.S.), Alteryx, Inc. (U.S.), Atos SE (France), Sisense (U.S.), and Cloudera, Inc. (U.S.).
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Scope of the Report:
Cloud Analytics Market Assessment—by Offering
SolutionsSales & Marketing AnalyticsBusiness Intelligence (BI)Customer AnalyticsEnterprise Performance Management (EPM)Supply Chain AnalyticsGovernance, Risk, and Compliance (GRC)Data Warehouse ModernizationMiscellaneous AnalyticsText AnalyticsSpeech AnalyticsVideo AnalyticsSpatial AnalyticsOther AnalyticsServicesProfessional ServicesManaged ServicesCloud Analytics Market Assessment—by Type
Descriptive AnalyticsPredictive AnalyticsDiagnostic AnalyticsPrescriptive AnalyticsCloud Analytics Market Assessment—by Deployment Mode
Public CloudPrivate CloudHybrid CloudCloud Analytics Market Assessment—by Sector
BFSIHealthcare & Life SciencesMedia & EntertainmentIT & TelecommunicationGovernment & DefenseRetail & E-commerceManufacturingEnergy &UtilitiesEducationOther SectorCloud Analytics Market Assessment—by Geography
North AmericaU.S.CanadaEuropeU.K.GermanyFranceSpainItalyPolandSwitzerlandRest of EuropeAsia-PacificChinaJapanIndiaSingaporeSouth KoreaAustralia & New ZealandRest of Asia-PacificLatin AmericaBrazilMexicoRest of Latin AmericaMiddle East & AfricaSaudi ArabiaUAERest of the Middle East & AfricaUnlock Opportunities: Buy Now- https://www.meticulousresearch.com/Checkout/47192497 
Related Reports:
Industrial Analytics Market by Offering (Platform, Services), Type (Descriptive, Diagnostic, Predictive, Prescriptive), End-use Industry (Oil & Gas, Automotive, Food & Beverage, Semiconductor & Electronics, Others), and Geography – Global Forecast to 2030
Streaming Analytics Market by Offering (Platforms, Services), Deployment Mode (Cloud, On-premise), Application (Fraud Detection, Customer Analytics, Others), Organization Size, Sector (IT & Telecom, Retail, BFSI, Others) & Geography – Global Forecast to 2030
Cloud Computing Market by Service Model (Infrastructure as a Service, Platform as a Service, and Software as a Service), Deployment Mode, Organization Size, End User (BFSI, Retail, and Healthcare), and Geography – Global Forecast to 2030
About Meticulous Research®
Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.
Contact:Mr. Khushal BombeMeticulous Market Research Inc.1267 Willis St, Ste 200 Redding,California, 96001, U.S.USA: +1-646-781-8004Europe: +44-203-868-8738APAC: +91 744-7780008Email- [email protected]      Visit Our Website: https://www.meticulousresearch.com/    Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research    Content Source: https://www.meticulousresearch.com/pressrelease/427/cloud-analytics-market-2031
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InterSystems TrakCare and InterSystems IRIS for Health to underpin deployment of fully unified future-ready AI-driven healthcare ecosystem at NEOM

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RIYADH, Saudi Arabia, July 24, 2024 /PRNewswire/ — InterSystems, a creative data technology provider dedicated to helping customers solve their most critical scalability, interoperability, and speed challenges, and NEOM, the sustainable development taking shape in northwest Saudi Arabia, today announced a groundbreaking partnership to revolutionize the healthcare experience within NEOM.

The partnership enables NEOM to deploy InterSystems TrakCare® across its healthcare facilities, which currently include one hospital and 41 clinics. TrakCare is a unified health information system that provides clinical, administrative, and financial information as a single source of truth for each patient and offers enhanced clinical decision support capabilities.
Additionally, by the end of 2024 InterSystems IRIS® for Health will centralize NEOM’s clinical application data to facilitate the development of innovative health programs. InterSystems IRIS for Health is a comprehensive, cloud-first digital health development platform that provides all the building blocks needed for Machine Learning and to work with practically any healthcare data standard, including HL7® FHIR®.
By adding IRIS for Health to their health ecosystem NEOM will significantly enhance the overall individual’s experience and move towards realizing NEOM’s ‘one patient, one record’ approach.
As a flexible and powerful healthcare information system TrakCare equips NEOM with extensive data capabilities, and as a digital health development platform IRIS for Health facilitates NEOM’s use of Artificial Intelligence (AI) driven technology. Combining these offerings empowers healthcare providers to make better informed decisions that optimize operations effectively for world-class healthcare services.
“This partnership marks a significant milestone in our mission to advance healthcare through innovative technology,” said Ali Abi Raad, Country Manager for the Middle East, India, and South Africa, InterSystems. “We are proud to support NEOM and their vision of building a digitally integrated healthcare ecosystem and becoming a global leader in health and well-being.”
“The partnership with InterSystems is a significant milestone in realizing our digital first and personalized prevention focused healthcare system. To realize this vision, we need flexible and data standards driven technology partners who are committed to our ‘one patient, one record’ approach.” – Dr Mahmoud Alyamany, Sector Head, NEOM Health & Wellbeing.
About InterSystems
Established in 1978, InterSystems is the leading provider of next-generation solutions for enterprise digital transformations in the healthcare, finance, manufacturing, and supply chain sectors. Its cloud-first data platforms solve interoperability, speed, and scalability problems for large organizations around the globe. InterSystems is committed to excellence through its award-winning, 24×7 support for customers and partners in more than 80 countries. Privately held and headquartered in Cambridge, Massachusetts, InterSystems has 39 offices in 28 countries worldwide. For more information, please visit InterSystems.com.
About NEOM
NEOM is an accelerator of human progress and a vision of what a new future might look like. It is a region in northwest Saudi Arabia on the Red Sea being built from the ground up as a living laboratory – a place where entrepreneurship will chart the course for this new future. It will be a destination and a home for people who dream big and want to be part of building a new model for exceptional livability, creating thriving businesses and reinventing environmental conservation.
NEOM will include hyperconnected, cognitive cities, ports and enterprise zones, research centers, sports and entertainment venues and tourist destinations. As a hub for innovation, entrepreneurs, business leaders and companies will come to research, incubate, and commercialize new technologies and enterprises in groundbreaking ways. Residents of NEOM will embody an international ethos and embrace a culture of exploration, risk-taking and diversity.
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Zesty Introduces Cloud Insights and Automation Platform To Ensure Optimization and Cloud Operational Excellence

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With prescriptive insights and AI automation for cloud infrastructure management for multiple CSPs, Zesty’s platform makes it simple to optimize cloud spending and performance, improve utilization rates, and create new opportunities for FinOps and DevOps teams
SAN MATEO, Calif., July 24, 2024 /PRNewswire/ — Zesty, a leader in automated cloud infrastructure management, announced today the launch of its Insights and Automation Platform. Designed to support a multi-cloud strategy and transform cloud challenges into opportunities for FinOps and DevOps teams, the platform optimizes cloud spending and improves utilization rates with prescriptive insights and automation, empowering companies to focus on innovation, not cloud or budget management.

As global innovation drives continuous exponential cloud growth, more than half of CIOs have reported an increase in their IT budget for this year specifically to enhance their capacity for financing new projects. Overseeing multiple vendors, intricate cost structures, and ever-evolving company needs have created enormous complications for companies as they scale and budget. While R&D teams prioritize leveraging cloud services to drive innovation and competitive advantage, Finance teams focus on controlling costs and ensuring budget adherence.
Zesty’s platform incorporates new insights to drastically simplify SMB and enterprise cloud cost management by prioritizing the highest value recommendations for FinOps teams. For example, the recommendations focused on reducing unused resources alone can help companies cut costs by 7%, which in some cases represents millions of dollars annually. The platform also hosts Zesty’s AI-driven flagship solutions, Commitment Manager and Zesty Disk, which automatically scale cloud resources up and down and identify potential savings across services. Zesty’s integration of insights and automation ensures that cloud investments consistently align with evolving business objectives with even greater efficiency and savings.
“CIOs are constantly exploring avenues to finance new projects. The Zesty Insights and Automation Platform will play a pivotal role in identifying areas of waste and help to free those funds for innovative projects. Machine learning capabilities and predictive analytics are driving serious returns for FinOps teams, with some of our customers recovering over a million dollars a year from cloud waste and using that to amplify innovation,” said Maxim Melamedov, CEO and Co-Founder of Zesty. “Our mission is to help businesses easily eliminate cloud-related waste in all its forms, financial, cloud resources, environmental, and time. Our platform comes at a critical time given the industry’s urgent need for effective financial management of cloud operations. Companies across all industries are desperate for a guide on their FinOps journey, and we are excited to be able to help.”
Zesty sets a new standard for the fragmented FinOps industry, providing a unified and efficient approach to cloud management, transforming visibility into action with prescriptive insights and automation, optimizing services such as AWS’ EC2, EBS, RDS, S3, ELB, EIP, and Azure’s Virtual Machines. Fueling its commitment to enhancing cloud infrastructure efficiency, Zesty manages billions in AWS contracts. Zesty’s customer-centric approach earned the company a near-perfect (4.9/5) CSAT (Customer Satisfaction Score) in 2023.
To learn more about Zesty’s Insights and Automation Platform or to book a demo, click here.
About Zesty
Zesty helps organizations accelerate innovation with its cloud infrastructure optimization platform. Powered by machine learning, Zesty provides FinOps and DevOps teams with prescriptive insights and automation to achieve the ideal utilization of cloud resources and enables CIOs to balance operational excellence and costs. Zesty’s optimization platform helps companies efficiently allocate resources for applications, with solutions for compute, storage, containers, databases, and more, saving time and money.
Founded in 2019, Zesty was built with the vision of making the cloud more affordable and accessible while reducing waste. With offices in San Mateo, Tel Aviv, Kiev, New York, and London, Zesty supports thousands of organizations, helping them get maximum value out of their cloud infrastructure. To learn more, visit https://zesty.co/.
Media Contact Kate Schoenstadt [email protected] IL: +972(0)-54-7776684
 

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Zenoo calls for collaboration to tackle AI fraud in banking

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CAMBRIDGE, England, July 24, 2024 /PRNewswire/ — UK technology company Zenoo warns the use of AI in banking fraud is just getting started – and collaboration with AI specialists is required to stem its flow.

Cambridge-based Zenoo – whose clients include London Stock Exchange, Experian, Transunion and NASA – supplies digital onboarding and protection from financial crime for businesses and has issued a warning to the banking community that the malevolent use of AI will only become more sophisticated and prevalent in the future.
Zenoo UK managing director George Taylor said: “It’s an enormous concern how quickly and significantly AI is being innovated to assist in banking fraud. In particular, social engineering attacks to steal personal information, enable identity theft and unauthorised access to bank accounts, is becoming remarkably advanced.”
Key areas of concern include Psychographic Profiling – where AI will analyse extensive data to create detailed psychographic profiles of individuals, tailoring social engineering attacks to exploit specific psychological traits – and Manipulative Interactions where the rising use of chatbots and virtual assistants in banking will be taken advantage of to engage in prolonged, convincing interactions with targets to extract sensitive information or induce them to perform actions that compromise their security.
Taylor is calling for banking to respond to the AI threat with AI too by collaborating with AI defence systems that can learn and adapt in real-time to detect and respond to emerging threats and machine learning models to identify and predict potential fraud based on evolving patterns and behaviours.
He adds: “The key word in combatting the AI threat is ‘collaboration’. Here at Zenoo we partner with cutting edge providers of the latest AI deepfake detection solutions which can be easily integrated into existing or new customer on boarding flows to combat fraud. We must take advantage of those specialists who are analysing and responding to the AI threat on a daily basis”.
Visit Zenoo to learn more or book a demo.
About Zenoo
Zenoo specialises in the remote onboarding of customers for international companies to help them improve their conversion rates, breaking down barriers and making it easier for their customers to open accounts online. Visit partner.zenoo.com for further information. 
Media enquiriesContact Bruce Ackland on +44 7884 076548 or email [email protected] 

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