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Big Data Analytics Market: Strategic Insights for a USD 845.97 Billion Future by 2031 | SkyQuest Technology

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WESTFORD, Mass., July 17, 2024 /PRNewswire/ — According to SkyQuest, the global Big Data Analytics Market size was valued at USD 272.80 billion in 2022 and is poised to grow from USD 309.35 billion in 2023 to USD 845.97 billion by 2031, growing at a CAGR of 13.40% during the forecast period (2024-2031).

Furthermore, the enormous advancements in computing, the abundance of data, and the infrastructure that makes knowledge creation possible have all contributed to the growing popularity of big data analytics. By applying analytics to big data, various businesses can establish enormous opportunities to gain numerous insights with better future outcomes. Big data utilization is helping the major global firms beat their rivals in a variety of industries. Proactive leaders started utilizing big data analytics to rapidly develop their companies. The effects of mastering big data will include improved competitive advantage for long-term investments and extraordinary capacity.
Download a detailed overview:https://www.skyquestt.com/sample-request/big-data-analytics-market
Big Data Analytics Market Overview:
Report Coverage
Details
Market Revenue in 2023
$309.35 Billion
Estimated Value by 2031
$845.97 Billion
Growth Rate
Poised to grow at a CAGR of 13.40%
Forecast Period
2024–2031
Forecast Units
Value (USD Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
Component, Data Type, Enterprise Type, Application, Business Function, Industry Vertical and Region
Geographies Covered
North America, Europe, Asia Pacific, Middle East & Africa, Latin America
Report Highlights
Advancements in computing and data infrastructure have popularized big data analytics
Key Market Opportunities
Increasing demand for comprehensive data integration and advanced analytics tools
Key Market Drivers
Predictive analytics for enhanced outcomes and cost management
Segments covered in Big Data Analytics Market are as follows:
ComponentHardware (servers, storage devices, networking equipment, and data centers), software (credit risk management, business intelligence solutions, CRM Analytics, compliance analytics, workforce analytics, and others), services (consulting services, system integration services, and managed services).Enterprise TypeLarge enterprises, small & medium enterprises (SMEs).ApplicationData discovery & visualization (DDV), advanced analytics (AA), othersIndustry VerticalBFSI, automotive, telecom/media, healthcare, life sciences, retail, energy & utility, government, othersRequest Free Customization of this report:https://www.skyquestt.com/speak-with-analyst/big-data-analytics-market
Harnessing Big Data Analytics Components for Enhanced Operational Efficiency and Strategic Advancement
Within the field of big data analytics, components come in a variety of forms, such as data management systems, analytics tools (like Tableau), processing frameworks (like Hadoop), and data storage systems. There is efficient handling of big data that occurs through integration, hence enabling companies in a couple of industries to gain competitive edges and operational insights.
Business intelligence solutions facilitate thorough data integration, analysis, and decision-making, which is why they are essential to the worldwide big data analytics industry. In this era, data-driven ideas are encouraged by these solutions to foster innovation across all industries. Moreover, they will enhance efficiency in operations and assist in strategy execution.
The consulting, implementation, and support services necessary for implementing and optimising analytics solutions are included in the services category of the global big data analytics industry. These services ensure that big data investments generate maximum profit and business strategies evolve continuously by using analytics programmes efficiently, responding to business demands, and providing ongoing support.
View report summary and Table of Contents (TOC):https://www.skyquestt.com/report/big-data-analytics-market
Unveiling Industry Verticals and the Evolution of Custom Analytics Solutions
In the worldwide big data analytics market, industry verticals refer to particular industries, such manufacturing, healthcare, finance, and retail, that use analytics to optimise operations and obtain new insights. The increased competitiveness in these sectors that foster innovation and streamline operations in turn necessitate the personalized data insights solutions.
The global big data analytics market is dominated by the BFSI (Banking, Financial Services, and Insurance) industry, which uses data analytics to improve client experiences, better manage risks, identify fraud, and maximise operational savings. Big Data analytics drives innovation, improves compliance and facilitates strategic decision-making in the finance sector. Consequently, such merits ensure sustainable expansion and outdo competitors in a market dominated by information.
The healthcare segment plays a crucial role in the global big data analytics industry, as it leverages analytics for enhanced patient care, operational efficiency and research. This transformation of healthcare delivery is driven by big data analytics, leading to improved patient care and induced innovative treatments. Additionally, it enables predictive analytics for personalised medicine, improves clinical outcomes, reduces costs and makes population health management easier.
Unveiling Industry Dynamics and Strategic Insights in the Big Data Analytics Frontier
Big data analytics is becoming a vital component of contemporary company strategy thanks to the advancements in computing and data infrastructure. Businesses which use analytics can benefit through getting deep insights, improving their competitive edge as well as spurring innovation. Data analytics are used by many healthcare innovators in offering personalized care or aiding research while for many BFSI leaders it has been a vital tool in enhancing customer experience by reducing risks. Tailored solutions to many issues such as enhancing customer service have contributed significantly to the growth of different sectors like manufacturing and retail.
Related Reports:
AI Market
Predictive Analytics Market
Video Analytics Market
Risk Analytics Market
Cloud Analytics Market
About Us:
SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization has expanded our reach across North America, Europe, ASEAN and Asia Pacific. 
Contact:Mr. Jagraj SinghSkyQuest Technology1 Apache Way,Westford,Massachusetts 01886USA (+1) 351-333-4748Email: [email protected] Our Website: https://www.skyquestt.com/
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LG OPENS NEW CHAPTER IN CONNECTED HOME LIVING WITH “THINQ ON” AI HOME HUB AT IFA 2024

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Revolutionizing AI Homes With Affectionate Intelligence for Seamless Connectivity, Custom Comfort and Care
SEOUL, South Korea, Aug. 29, 2024 /PRNewswire/ — LG Electronics (LG) is unveiling the LG ThinQ ON AI home hub featuring Affectionate Intelligence at IFA 2024 in Berlin, Germany, from September 6-10. This innovative hub provides outstanding connectivity and expandability, positioning itself as the centerpiece of a comprehensive smart home ecosystem, where LG’s appliances and “empathetic” AI work in unison to deliver customized comfort, care and convenience.

The AI home hub seamlessly connects with a vast array of appliances and Internet of Things (IoT) devices, making it easy for anyone to configure and enjoy a personalized AI-powered home. Powered by LG’s unique Affectionate Intelligence, the ThinQ ON continuously learns from individual usage patterns and broader usage trends to tailor customers’ daily experiences, accelerating the realization of LG’s “Zero Labor Home” vision.
Compact and lightweight, LG ThinQ ON features a cylindrical form factor and a muted color palette (gray/white) that allows it to blend effortlessly with any space or décor. The device is equipped with an AI speaker that facilitates conversations with LG’s AI voice assistant and lets users listen to their favorite audio content. The ThinQ ON’s advanced capabilities are driven by LG’s high-performance AI chipset, designed with future scalability in mind.
Generative AI-based Home Solutions Tailored to Each Customer’s Preferences
The ThinQ ON allows users to control their AI appliances and living spaces with spoken commands or requests delivered in a natural, conversational manner. This creates an experience akin to conversing with friends or family, adding a more human dimension to user-device interactions.
In addition to comprehending everyday language, LG’s AI home hub can understand the context of conversations and determine user preferences for each connected appliance, IoT device and service; bringing a new level of “care” to the home. What’s more, the ThinQ ON autonomously monitors all elements within the smart home ecosystem, helpfully informing users when a task is completed (e.g., the washer has finished a cycle) or if any issue had been detected.
On top of this, ThinQ ON makes it possible to check or change nearly all appliance settings using only voice commands and configure convenience-enhancing routines that automate appliance/IoT operations.
Connectivity, Expandability and Versatility
LG ThinQ ON is Matter-certified* and supports various network connectivity options, including Wi-Fi and Thread, ensuring hassle-free setup and a seamless smart home experience. Compatible with a wide range of LG innovations and a growing number of appliances and IoT devices from other manufacturers, the ThinQ ON enables users to manage their entire smart home ecosystem from one place, both now and in the future.
To further enhance the connectivity of the ThinQ ON, LG acquired the smart home platform company Athom in July of this year. Athom’s flagship smart hub, Homey Pro, can connect to over 50,000 devices. The Homey App Store features around 1,000 applications for connecting and controlling products from various global brands. LG plans to maximize the advantages of the ThinQ ON’s open platform by continuously expanding the range of supported brands and devices.
Enhanced Security and Privacy Protection with LG Shield
The ThinQ ON utilizes LG Shield, the company’s proprietary security system, to protect customer data at all times – from collection and storage to usage. LG Shield encrypts user data and securely stores it in a separate server. Additionally, data modifications required are made within a secure environment, preventing external parties from tampering with the operational code and ensuring customers’ safety while they enjoy the many benefits of LG’s latest AI-driven innovations.
“An AI voice assistant and hub that serves as the center of the smart home, ThinQ ON brings us significantly closer to realizing our vision of the Zero Labor Home,” said Lyu Jae-cheol, president of LG Electronics Home Appliance & Air Solution Company. “LG aims to make the ‘AI Home Lifestyle’ accessible to everyone, and will continue to deliver customized comfort, care and convenience through its Affectionate Intelligence solutions.”
Visitors to IFA 2024 (September 6-10) can see all of LG’s latest AI Home solutions, including ThinQ ON, at the company’s exhibition booth in Hall 18, Messe Berlin.
* Matter is the globally-adopted smart home connection protocol developed by the Connectivity Standards Alliance (CSA), of which LG Electronics is a member.
About LG Electronics Home Appliance & Air Solution Company
The LG Home Appliance & Air Solution Company is a global leader in home appliances, air solutions as well as smart home solutions featuring LG ThinQ. The company is creating various solutions with its industry leading core technologies and is committed to making life better and sustainable for consumers and the planet by developing thoughtfully designed kitchen appliances, living appliances, HVAC and air purification solutions. Together, these products deliver enhanced convenience, superb performance, efficient operation and sustainable lifestyle solutions. For more news on LG, visit www.LGnewsroom.com.

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Supermicro Previews New Max Performance Intel-based X14 Servers for AI, HPC, and Critical Enterprise Workloads

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A Complete Architecture Upgrade that Includes New Performance-Optimized CPUs, Next-Generation GPU support, Upgraded Memory MRDIMMs, 400GbE Networking, New Storage Options Including E1.S and E3.S drives, and Direct-to-Chip Liquid Cooling, based on the Upcoming Intel® Xeon® 6900 Series Processors with P-Cores (formerly codenamed Granite Rapids-AP) Supporting Demanding Workloads
SAN JOSE, Calif., Aug. 28, 2024 /PRNewswire/ — Supermicro, Inc. (NASDAQ: SMCI) a Total IT Solution Provider for AI/ML, HPC, Cloud, Storage, and 5G/Edge, is previewing new, completely re-designed X14 server platforms which will leverage next-generation technologies to maximize performance for compute-intensive workloads and applications. Building on the success of Supermicro’s efficiency-optimized X14 servers that launched in June 2024, the new systems feature significant upgrades across the board, supporting a never-before-seen 256 performance cores (P-cores) in a single node, memory support up for MRDIMMs at 8800MT/s, and compatibility with next-generation SXM, OAM, and PCIe GPUs. This combination can drastically accelerate AI and compute as well as significantly reduce the time and cost of large-scale AI training, high-performance computing, and complex data analytics tasks. Approved customers can secure early access to complete, full-production systems via Supermicro’s Early Ship Program or for remote testing with Supermicro JumpStart.

“We continue to add to our already comprehensive Data Center Building Block solutions with these new platforms, which will offer unprecedented performance, and new advanced features,” said Charles Liang, president and CEO of Supermicro. “Supermicro is ready to deliver these high-performance solutions at rack-scale with the industry’s most comprehensive direct-to-chip liquid cooled, total rack integration services, and a global manufacturing capacity of up to 5,000 racks per month including 1,350 liquid cooled racks. With our worldwide manufacturing capabilities, we can deliver fully optimized solutions which accelerate our time-to-delivery like never before, while also reducing TCO.”
Click here for more information.
These new X14 systems feature completely re-designed architectures including new 10U and multi-node form factors to enable support for next-generation GPUs and higher CPU densities, updated memory slot configurations with 12 memory channels per CPU and new MRDIMMs which provide up to 37% better memory performance compared to DDR5-6400 DIMMS. In addition, upgraded storage interfaces will support higher drive densities, and more systems with liquid cooling integrated directly into the server architecture.
The new additions to the Supermicro X14 family comprise more than ten new systems, several of which are completely new architectures in three distinct, workload-specific categories:
GPU-optimized platforms designed for pure performance and enhanced thermal capacity to support the highest-wattage GPUs. System architectures have been built from the ground up for large-scale AI training, LLMs, generative AI, 3D media, and virtualization applications.High compute-density multi-nodes including SuperBlade® and the all-new FlexTwin™, which leverage direct-to-chip liquid cooling to significantly increase the number of performance cores in a standard rack compared to previous generations of systems.Market-proven Hyper rackmounts combine single or dual socket architectures with flexible I/O and storage configurations in traditional form factors to help enterprises and data centers scale up and out as their workloads evolve.Supermicro X14 performance-optimized systems will support the soon-to-be-released Intel® Xeon® 6900 series processors with P-cores and will also offer socket compatibility to support Intel Xeon 6900 series processors with E-cores in Q1’25. This designed-in feature allows workload-optimized systems for either performance-per-core or performance-per-watt.
“The new Intel Xeon 6900 series processors with P-cores are our most powerful ever, with more cores and exceptional memory bandwidth & I/O to achieve new degrees of performance for AI and compute-intensive workloads,” said Ryan Tabrah, VP and GM of Xeon 6 at Intel. “Our continued partnership with Supermicro will result in some of the industry’s most powerful systems that are ready to meet the ever-heightening demands of modern AI and high-performance computing.”
When configured with Intel Xeon 6900 series processors with P-cores, Supermicro systems support new FP16 instructions on the built-in Intel® AMX accelerator to further enhance AI workload performance. These systems include 12 memory channels per CPU with support for both DDR5-6400 and MRDIMMs up to 8800MT/s, CXL 2.0, and feature more extensive support for high-density, industry-standard EDSFF E1.S and E3.S NVMe drives.
Supermicro Liquid Cooling Solutions
Complementing this expanded X14 product portfolio are Supermicro’s rack-scale integration and liquid cooling capabilities. With an industry-leading global manufacturing capacity, extensive rack-scale integration and testing facilities, and a comprehensive suite of management software solutions, Supermicro designs, builds, tests, validates, and delivers complete solutions at any scale in a matter of weeks.
In addition, Supermicro offers a complete in-house developed liquid cooling solution including cold plates for CPUs, GPUs and memory, Cooling Distribution Units, Cooling Distribution Manifolds, hoses, connectors, and cooling towers. Liquid cooling can be easily included in rack-level integrations to further increase system efficiency, reduce instances of thermal throttling, and lower both the TCO and Total Cost to Environment (TCE) of data center deployments.
Upcoming Supermicro X14 performance-optimized systems include:
GPU-optimized – The highest performance Supermicro X14 systems designed for large-scale AI training, large language models (LLMs), generative AI and HPC, and supporting eight of the latest-generation SXM5 and SXM6 GPUs. These systems are available in air-cooled or liquid-cooled configurations.
PCIe GPU – Designed for maximum GPU flexibility, supporting up to 10 double-width PCIe 5.0 accelerator cards in a thermally-optimized 5U chassis. These servers are ideal for media, collaborative design, simulation, cloud gaming, and virtualization workloads.
Intel® Gaudi® 3 AI Accelerators – Supermicro also plans to deliver the industry’s first AI server based on the Intel Gaudi 3 accelerator hosted by Intel Xeon 6 processors. The system is expected to increase efficiency and lower the cost of large-scale AI model training and AI inferencing. The system features eight Intel Gaudi 3 accelerators on an OAM universal baseboard, six integrated OSFP ports for cost-effective scale-out networking, and an open platform designed to use a community-based, open-source software stack, requiring no software licensing costs.
SuperBlade® – Supermicro’s X14 6U high-performance, density-optimized, and energy-efficient SuperBlade maximizes rack density, with up to 100 servers and 200 GPUs per rack. Optimized for AI, HPC, and other compute-intensive workloads, each node features air cooling or direct-to-chip liquid cooling to maximize efficiency and achieve the lowest PUE with the best TCO, as well as connectivity up to four integrated Ethernet switches with 100G uplinks and front I/O supporting a range of flexible networking options up to 400G InfiniBand or 400G Ethernet per node.
FlexTwin™ – The new Supermicro X14 FlexTwin architecture is designed to provide maximum compute power and density in a multi-node configuration with up to 24,576 performance cores in a 48U rack. Optimized for HPC and other compute-intensive workloads, each node features direct-to-chip liquid cooling only to maximize efficiency and reduce instances of CPU thermal throttling, as well as HPC Low Latency front and rear I/O supporting a range of flexible networking options up to 400G per node.
Hyper – X14 Hyper is Supermicro’s flagship rackmount platform designed to deliver the highest performance for demanding AI, HPC, and enterprise applications, with single or dual socket configurations supporting double-width PCIe GPUs for maximum workload acceleration. Both air cooling and direct-to-chip liquid cooling models are available to facilitate the support of top-bin CPUs without thermal limitations and reduce data center cooling costs while also increasing efficiency.
About Super Micro Computer, Inc.
Supermicro (NASDAQ: SMCI) is a global leader in Application-Optimized Total IT Solutions. Founded and operating in San Jose, California, Supermicro is committed to delivering first to market innovation for Enterprise, Cloud, AI, and 5G Telco/Edge IT Infrastructure. We are a Total IT Solutions provider with server, AI, storage, IoT, switch systems, software, and support services. Supermicro’s motherboard, power, and chassis design expertise further enable our development and production, enabling next generation innovation from cloud to edge for our global customers. Our products are designed and manufactured in-house (in the US, Taiwan, and the Netherlands), leveraging global operations for scale and efficiency and optimized to improve TCO and reduce environmental impact (Green Computing). The award-winning portfolio of Server Building Block Solutions® allows customers to optimize for their exact workload and application by selecting from a broad family of systems built from our flexible and reusable building blocks that support a comprehensive set of form factors, processors, memory, GPUs, storage, networking, power, and cooling solutions (air-conditioned, free air cooling or liquid cooling).
Supermicro, Server Building Block Solutions, and We Keep IT Green are trademarks and/or registered trademarks of Super Micro Computer, Inc.
All other brands, names, and trademarks are the property of their respective owners.
 
 
 
 
 
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Lucinity Mentioned in the 2024 Gartner® Banker’s Guide to AML Tools for Productivity

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REYKJAVIK, Iceland, Aug. 28, 2024 /PRNewswire/ — Lucinity has been mentioned in the recent 2024 Gartner Banker’s Guide to AML Tools for Productivity report, released on August 13th, 2024 by Pete Redshaw. As stated by Gartner in this report, “Banks’ biggest opportunity with AML tools lies in greater productivity and efficiency. Bank CIOs should not fall into the trap of focusing exclusively on improved risk scoring at the expense of more effective AML case investigations.” Gartner mentions Lucinity as a tool used for orchestration and business process management and as an AML vendor cited by third-party partners.

 
 
Gartner’s report highlights key findings, which states, “Banks’ primary drivers for anti-money-laundering (AML) replacements are increasing the productivity of case investigators and reducing the total cost of ownership (TCO) for AML.” The recommendation by Gartner states, “TCO: Calculate the extent to which a replacement AML system could boost your case investigators’ productivity, accuracy and consistency. Gartner’s view is that raising the productivity for your AML workforce by just a few percentage points, within the case management capability, will likely outweigh all the additional license and usage costs paid to the new AML vendor.” Lucinity’s platform is designed with this in mind as an AI-powered FinCrime operating system that takes investigations from hours to minutes.
Gartner also recommends in its holistic approach to “Source more of the AML suite from a single vendor. This approach will be more convenient (a single point of contact when things need fixing), as well as more effective, as the vendor is likely to be better integrated at a technical level and a process level.” Lucinity addresses this need by offering a unified case manager that seamlessly integrates AML, fraud, and sanctions cases into one comprehensive system.
Gartner observes that “AML vendors are increasingly using machine learning (ML) and generative AI (GenAI) to improve their offerings’ effectiveness (detection rate and accuracy ratio) and efficiency (automation, AI assistants and workflow).” Lucinity’s AI-powered copilot, Luci, is a prime example of this trend, automating routine tasks, guiding investigators through complex workflows, and minimizing errors to expedite investigations. Additionally, the Luci AI Studio enables teams to configure their AI to their specific needs, ensuring compliance with regulatory standards.
Gartner further stresses the need for explainable AI in AML systems, advising to, “Apply AI methods to augment risk scoring only where it is explainable to regulators.” We believe this aligns with Lucinity’s commitment to transparency, as every AI-driven decision within its platform is meticulously documented, providing a clear audit trail that meets rigorous regulatory requirements.
Guðmundur Kristjánsson, CEO of Lucinity, reflected on the report, stating, “It’s very insightful to see how closely the challenges in the market align with the pain points we address at Lucinity. We believe this alignment drives our commitment to delivering innovative AI solutions that unlock productivity and cost savings for financial institutions.”
GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved.
Gartner does not endorse any vendor, product, or service depicted in its research publications and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
Media contacts: Celina [email protected] +354 792 4321
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