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Cloud Analytics Market worth $118.5 billion by 2029- Exclusive Report by MarketsandMarkets™

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CHICAGO, May 27, 2024 /PRNewswire/ — The market for cloud analytics has a promising future because of the acceptance of real-time analytics, the expansion of big data and IoT, and the integration of AI and machine learning. Its adoption across multiple industries will be further accelerated by improved security, edge computing integration, and user-friendly platforms that prioritise data-driven decision-making and customised customer experiences.

The Cloud Analytics Market is estimated to grow from USD 35.7 billion in 2024 to USD 118.5 billion in 2029, at a CAGR of 27.1% during the forecast period, according to a new report by MarketsandMarkets™. Cloud analytics revolutionizes data storage and analysis by harnessing the power of the cloud. By storing and analyzing data in the cloud, businesses can extract actionable insights crucial for both SMEs and large enterprises. This approach facilitates identifying patterns, predicting future outcomes, and gaining valuable insights. Cloud analytics offers an opportunity to consolidate data and convert it into actionable intelligence while reducing procurement and maintenance costs. It involves utilizing both cloud-stored data and the rapid computing power of the cloud for faster analytics. However, with cloud infrastructure, organizations gain access to scalable, secure, and efficient data storage and processing solutions, enabling them to meet the demands of big data and drive innovation.

Browse in-depth TOC on “Cloud Analytics Market”

333 – Tables
66 – Figures
342 – Pages

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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, Data Type, Data Processing, Vertical, and Region

Geographies covered

North America, Europe, Asia Pacific, Middle East & Africa, and Latin America

Companies covered

IBM (US), SAS Institute (US), Oracle (US), Google (US), Microsoft (US), Teradata (US), Salesforce (US), AWS (US), NetApp (US), Qilk (US), Sisense (US), SAP (Germany), Atos (France), Altair (US), Microstrategy (US), Tibco Software (US), Hexaware Technologies (India), Zoho (India), Rackspace Technology (US), Splunk (US), Cloudera (US), Domo (US), Hewlett Packard Enterprise (US), Incorta (US), Tellius (US), Rapyder (US), Hitachi Vantara (US), Board International (Switzerland), Ridge (Israel), Jaspersoft (US), Yellowfin (Australia), Deonodo (US), GoodData (US), Thoughtspot (US), and Infogain (US)

By offering the services segment to account for higher CAGR during the forecast period

Services segment in the Cloud Analytics Market have experienced remarkable growth in the Cloud Analytics Market, fueled by the increasing adoption of data-driven decision-making across industries. These services offer businesses the capability to analyze vast amounts of data stored in the cloud swiftly and efficiently, enabling them to extract valuable insights for strategic planning, optimization, and innovation. With the scalability and flexibility of cloud infrastructure, analytics services can accommodate diverse data types and analytical workloads, empowering organizations to derive actionable intelligence from their data in real time. As businesses continue to prioritize agility and competitiveness, the demand for cloud analytics services is expected to soar, driving further innovation and expansion in the Cloud Analytics Market landscape.

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By Type, advanced analytics solution is expected to hold the largest market size for the year 2024

The surge in advanced analytics adoption within the Cloud Analytics Market is reshaping the landscape of data-driven decision-making. Organizations across diverse sectors are increasingly turning to advanced analytics solutions hosted on cloud platforms to extract deeper insights from their data. This trend stems from the growing realization that traditional analytics methods are no longer sufficient to cope with the complexities of modern data ecosystems. Advanced analytics, powered by machine learning algorithms, predictive modeling, and AI, offer unparalleled capabilities to uncover hidden patterns, forecast trends, and optimize business processes. By leveraging the scalability, flexibility, and cost-effectiveness of cloud infrastructure, businesses can access powerful analytics tools without the burden of hefty upfront investments in hardware and software. As a result, the Cloud Analytics Market is witnessing rapid expansion, fueled by the transformative potential of advanced analytics in driving innovation, enhancing operational efficiency, and gaining a competitive edge in today’s data-driven economy.

By Vertical, Healthcare & Life Sciences is projected to grow at the highest CAGR during the forecast period

The healthcare and life sciences sector is experiencing a transformative shift with the emergence of cloud analytics. This technology integrates vast amounts of data from various sources, including electronic health records, wearable devices, and genomic information, to derive meaningful insights and drive informed decision-making. Cloud analytics offers scalability, flexibility, and cost-effectiveness, enabling organizations to efficiently manage and analyze massive datasets that were previously challenging to handle. By leveraging advanced analytics techniques such as machine learning and predictive modeling, healthcare providers and life sciences companies can enhance patient care, optimize clinical workflows, and accelerate drug discovery processes. Moreover, cloud-based analytics facilitates collaboration among researchers, clinicians, and stakeholders, fostering innovation and driving advancements in personalized medicine and population health management. As the industry continues to embrace digital transformation, cloud analytics stands as a cornerstone for unlocking the full potential of data-driven healthcare and life sciences initiatives.

Asia Pacific is expected to grow at the highest CAGR during the forecast period

The Asia Pacific region is experiencing a significant surge in the adoption of cloud analytics, reshaping how businesses make data-driven decisions. Companies spanning various industries are embracing cloud-based analytics platforms to optimize operations, foster innovation, and gain actionable insights. Additionally, the ubiquitous nature of mobile devices and internet connectivity has heightened the demand for real-time analytics accessible from anywhere. Governments and enterprises recognize the strategic value of harnessing analytics to maintain competitiveness in the global marketplace. Consequently, investments in cloud analytics technologies and talent development are escalating, positioning the Asia Pacific region as a pivotal player in the global cloud analytics landscape.

Top Key Companies in Cloud Analytics Market:

The significant cloud analytics software and service providers include IBM (US), SAS Institute (US), Oracle (US), Google (US), Microsoft (US), Teradata (US), Salesforce (US), AWS (US), NetApp(US), Qilk(US), Sisense (US), SAP (Germany), Atos (France), Altair (US), Microstrategy (US), Tibco Software (US), Hexaware Technologies (India), Zoho (India), Rackspace Technology (US), Splunk (US), Cloudera (US), Domo (US), Hewlett Packard Enterprise (US), Incorta (US), Tellius (US), Rapyder (US), Hitachi Vantara (US), Board International (Switzerland), Ridge (Israel), Jaspersoft (US), Yellowfin (Australia), Deonodo(US), GoodData(US), Thoughtspot (US), and Infogain (US). These companies have used organic and inorganic growth strategies such as product launches, acquisitions, and partnerships to strengthen their position in the Cloud Analytics Market.

Recent Developments:

In January 2024, Salesforce unveiled fresh Commerce Cloud tools leveraging generative AI and data-driven insights, enhancing every customer interaction for heightened loyalty and revenue growth.In February 2024, IBM and Wipro strengthened their collaboration to offer clients expanded AI services and support. This collaboration aims to utilize AI technologies to tackle various business challenges and foster innovation across industries.In June 2023, Salesforce and Google formed a partnership. The partnership between Salesforce and Google focuses on integrating Google’s AI capabilities into Salesforce’s products, enhancing their analytics offerings.In May 2023, Microsoft launched Microsoft Fabric Data Analytics which is a cutting-edge platform tailored for the AI era, facilitating seamless integration of analytics and AI capabilities into data processing workflows. It streamlines data ingestion, preparation, and analysis, enabling organizations to derive actionable insights efficiently.In August 2022, Teradata introduced VantageCloud Lake, a cloud-native service designed to simplify data lakes for businesses, enabling seamless management and analytics of vast data sets.

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Cloud Analytics Market Advantages:

Platforms for cloud analytics offer scalable resources, making it simple for companies to modify their requirements for storage and processing power in response to demand. Because of its adaptability, businesses may manage different data volumes without having to make costly infrastructure investments.Businesses can lower their capital hardware and software costs by utilising cloud analytics. Pay-as-you-go cloud service pricing allows businesses to optimise their total IT expenditure by only paying for the resources they really utilise.Compared to on-premises systems, cloud analytics solutions may be implemented and deployed far more quickly. This speedy deployment shortens the time to insight, allowing companies to begin data analysis and value extraction right away.Platforms for cloud-based analytics enable remote access to analytics tools and data from any location with an internet connection. Team members can collaborate on data projects regardless of location thanks to this accessibility, which fosters teamwork.Advanced analytics features like machine learning, artificial intelligence, and predictive analytics are frequently included in cloud analytics solutions. Organisations can gain deeper insights and make better decisions with the aid of these technologies.Businesses can analyse data as it is generated with the use of cloud analytics solutions, which provide real-time data processing and analytics. Applications that need instant insights, like fraud detection, operational monitoring, and customer engagement, depend on this real-time capacity.Platforms for cloud analytics can easily interface with a range of data sources, such as databases, data lakes, outside apps, and Internet of Things gadgets. A unified perspective of corporate operations and thorough data analysis are guaranteed by this integration capabilities.

Report Objectives

To define, describe, and predict the Cloud Analytics Market by offering, data type, data processing, vertical, and regionTo describe and forecast the Cloud Analytics Market, in terms of value, by region—North America, Europe, Asia Pacific, Middle East & Africa, and Latin AmericaTo provide detailed information regarding major factors influencing the market growth (drivers, restraints, opportunities, and challenges)To strategically analyze micro markets with respect to individual growth trends, prospects, and contributions to the overall Cloud Analytics MarketTo profile key players and comprehensively analyze their market positions in terms of ranking and core competencies, along with detailing the competitive landscape for market leadersTo analyze competitive developments such as joint ventures, mergers and acquisitions, product developments, and ongoing research and development (R&D) in the Cloud Analytics MarketTo provide the illustrative segmentation, analysis, and projection of the main regional markets

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HONOR Redefines Mobile AI Solutions with PC powered by Snapdragon, on-device AI Agent and AI Deepfake Detection at IFA 2024

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HONOR, Qualcomm, and Microsoft Redefine Innovations in Mobile AI

BERLIN, Sept. 7, 2024 /CNW/ — Today at IFA 2024, HONOR unveiled three groundbreaking mobile AI Solutions: AI PC powered by Snapdragon® X Elite platforms, AI Agent and AI Deepfake Detection. The launch was accompanied by a thought-provoking panel discussion featuring HONOR CEO George Zhao; Alex Katouzian, Group GM of MCX at Qualcomm Technologies, Inc.; and Mark Linton, VP of Device Partner Sales at Microsoft. Together, they explored the convergence of AI and Snapdragon technology, discussing how these innovations are shaping the future of mobile AI.

“When it comes to mobile computing, AI is not just a buzzword, it’s a revolution,” commented George Zhao, CEO of HONOR Device Co., Ltd. “At HONOR, we’re committed to working with our partners to deliver powerful AI capabilities and seamless connectivity, while protecting our users’ privacy. Through open collaboration with industry leaders, we’re creating devices that empower individuals and redefine what’s possible.”

“At Qualcomm Technologies, we believe the NPU is the key to unlocking the true potential of AI in PCs,” added Alex Katouzian, Group GM of MCX, Qualcomm Technologies, Inc. “The Snapdragon X Elite with its industry-leading NPU performance empowers AI PCs like the HONOR MagicBook Art 14 to deliver next-generation AI experiences. Not only will users see a significant boost in capabilities, but the NPU’s efficiency also translates to longer battery life, allowing users to stay productive for extended periods.”

HONOR MagicBook Art 14 Snapdragon: Redefining PC in the Mobile AI Era
The PC landscape is undergoing a radical transformation, driven by advancements in AI and the rise of Snapdragon platforms. Fueled by HONOR’s platform-level AI capabilities and developed in collaboration with top industry leaders, HONOR MagicBook Art 14 Snapdragon heralds a new era of computing.

Featuring a sleek and compact design, the HONOR MagicBook Art 14 Snapdragon is a marvel of lightweight engineering. It incorporates cutting-edge platform-level AI features alongside robust hardware and software solutions, ensuring unmatched productivity and user experience. It translates the lightweight and slim characteristics of smartphones to laptops, delivering the lightest and slimmest AI PC on the market, weighing approximately 1kg with a slimness of 1cm. Delivering an immersive visual journey, the HONOR MagicBook Art 14 Snapdragon features a captivating 14.6-inch HONOR FullView Touch Display boasting a crystal-clear 3.1K resolution. It also includes an outstanding 97% screen-to-body ratio, the largest among 14-inch laptops. The HONOR MagicBook Art 14 Snapdragon is powered by the Qualcomm Snapdragon X Elite, elevating the computing experience to new heights in terms of power, efficiency, and security.

The HONOR MagicBook Art 14 Snapdragon also enables a smooth transition of Windows applications on X86 to the Windows on Snapdragon architecture. Based on years of research on the ecosystem, HONOR created a Hotspot Library that uses platform-level AI to identify frequently used scenarios and trigger translation optimization efficiently. HONOR has improved 16% of the average boot-up time1 with translation optimization across a diverse array of Windows applications. Currently, HONOR has optimized a total of the Top 14 applications across six major categories, including browsers, online meetings, media, office, social software and tools.

The HONOR MagicBook Art 14 Snapdragon will be soon available in German, France and Italy.  For preorder, please visit HONOR online store now at www.honor.com.

Seamless AI Experiences Elevated by the Power of MagicRing
In the mobile AI era, seamless cross-OS connectivity will truly empower users to unlock AI everywhere. Unlike the manual point-to-point connections in traditional solutions, the HONOR MagicRing allows multiple devices of the same account to automatically connect with low power consumption.

The MagicRing not only connects devices but also connects services across the devices. The solution also enables users to use the same set of keyboard and mouse for multiple devices, receive calls and notifications on a device other than their smartphones, and control the smartphone’s camera on the PC. With the secure and smooth flow of services and information across devices, MagicRing makes multi-device AI experience easier. For example, as one of the typical scenarios of Windows on Snapdragon experience, Cocreator allows users to produce fantastic artwork with simple draws. Powered by MagicRing, users can seamlessly access Cocreator on their HONOR MagicPad 2, drawing AI masterpieces with their Magic-Pencil. In the Meanwhile, they can also use AI Eraser from HONOR Magic V3 on the HONOR MagicBook Art 14 Snapdragon to experience unparalleled levels of convenient mobile AI.

HONOR AI Agent: The First On-device AI Agent for the Open Ecosystem
The HONOR AI Agent is a revolutionary always-on personal assistant designed to enhance and simplify users’ daily lives. By intuitively understanding users’ requests and intentions through language analysis and UI awareness technology, the AI Agent that learns from their habits and device environment can intelligently make decisions across various apps and services. This capability allows it to automate complex tasks. HONOR demonstrated how to find and cancel unwanted app subscriptions across different apps with just a few simple voice commands on their smartphones.

As we look to the future, the HONOR AI Agent is poised to become the cornerstone of mobile AI, and it is anticipated to arrive with the HONOR Magic7 Series later this year in China. This innovation not only signifies a leap in technology but also heralds a new era where AI seamlessly integrates into our daily routines, enhancing everyday productivity and efficiency.

The World’s First On-device AI Deepfake Detection Technology
As the technology behind deepfakes becomes more sophisticated, the potential for misuse, including identity theft and the spread of disinformation, grows significantly. HONOR’s on-device AI Deepfake Detection represents a groundbreaking solution designed to protect users from the increasingly prevalent threat of deepfakes. This innovative detection system employs advanced algorithms to meticulously analyze various elements, including pixel-level synthetic imperfections, border compositing artifacts, inter-frame continuity, consistency in face-to-ear hairstyle, and the positioning of synthetic traces. By examining these characteristics, the technology can accurately identify manipulated content, distinguishing between genuine media and deceptive alterations.

About HONOR 
HONOR is a leading global provider of smart devices. It is dedicated to becoming a global iconic technology brand and creating a new intelligent world for everyone through its powerful products and services. With an unwavering focus on R&D, it is committed to developing technology that empowers people around the globe to go beyond, giving them the freedom to achieve and do more. Offering a range of high-quality smartphones, tablets, laptops and wearables to suit every budget, HONOR’s portfolio of innovative, premium and reliable products enable people to become a better version of themselves.

For more information, please visit HONOR online at www.honor.com or email newsroom@honor.com 

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1Data comes from HONOR labs.

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SDAIA to Unveil Key AI Strategies and International Collaborations at Global AI Summit Press Conference

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RIYADH, Saudi Arabia, Sept. 7, 2024 /CNW/ — The Saudi Authority for Data and Artificial Intelligence (SDAIA) will hold a press conference on Sunday, September 8, at the King Abdulaziz International Conference Center. The press conference will highlight key aspects of the upcoming third edition of the Global AI Summit, taking place under the patronage of His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince, Prime Minister, and Chairman of SDAIA’s Board of Directors. The summit is scheduled for September 10-12, 2024, and will feature over 300 speakers, attracting global thought leaders, policymakers, and AI experts from more than 100 countries.

The press conference will feature remarks from prominent figures, including H.E. Dr. Abdullah bin Sharaf Alghamdi, President of SDAIA, H.E. Dr. Esam bin Abdullah Alwagait, Director of the National Information Center (NIC), and H.E. Dr. Yaser bin Mohammed Al-Onaizan, CEO of the National Center for AI (NCAI) in SDAIA.

Key topics to be covered during the press conference will include the significance of the Crown Prince’s patronage, the summit’s focus areas, and its anticipated impact on the good of humanity, particularly amid the rapid development of AI technologies. It will also showcase how AI is driving economic growth, creating new sectors and industries, and addressing global challenges. Furthermore, the press conference will spotlight Saudi Arabia’s leadership in promoting responsible AI use and ethics on the international stage, while addressing both the opportunities and challenges AI presents.

For more information about the GAIN Summit, please visit:  https://globalaisummit.org/en/default.aspx   

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More Than a Device: Timekettle Unveils W4 Pro AI Interpreter Earbuds at IFA 2024

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BERLIN, Sept. 7, 2024 /PRNewswire/ — Timekettle, the expert in AI translator earbuds, has unveiled its latest innovation, the W4 Pro AI Interpreter Earbuds, at the International Funkausstellung (IFA) 2024. More than a device, the W4 Pro functions like a personal assistant, catering to the cross-language communication needs when hosting foreign guests, conducting multi-language online meetings, or traveling abroad for business or leisure.

“Interpreter earbuds like the W4 Pro are essential even when phones can be used for translation, because they cater to a more refined and immersive user experience,” said Leal Tian, the CEO of Timekettle. “In cross-language communication, there’s a growing need for meaningful conversations and deeper connections beyond basic translations, especially for business pros, immigrants, and travelers. The W4 Pro meets these needs by allowing natural, hands-free conversations with eye contact, making interactions smoother.”

The W4 Pro caters to diverse communication needs in three distinct modes. The first mode focuses on one-on-one simultaneous interpreting. It features advanced technology that allows for instant translation in a two-way conversational setting. Its dual interpretation system redefines successful communication by allowing two voices to merge into a singular flow. The earbuds also incorporate a triple microphone array that enhances voice recognition and translation accuracy.

For professionals navigating multilingual meetings, the W4 Pro’s Listen & Play mode is an ideal choice. It allows seamless switching between listening and speaking with simultaneous interpretation. Timekettle’s AI Semantic Segmentation ensures rapid sentence parsing, enhancing communication and productivity, while AI Memo provides intelligent post-meeting summaries.

The third mode caters to online interactions such as video calls or streaming foreign media content, ensuring users understand every word with real-time translated subtitles and audio summaries post-meeting or event. In addition, unexpected phone calls in a foreign language are no longer a concern, as the W4 Pro offers one-way assisted translation and real-time transcription subtitles, enabling quick information grasp and efficient conversations.

Understanding the importance of user comfort and efficiency, Timekettle has equipped the W4 Pro with an open-ear design, ensuring prolonged comfort without compromising privacy or hygiene. Additionally, its high-end sound quality enriches every interaction, making it comparable to professional audio systems.

Significant Milestone to “Babel Fish”

Timekettle was inspired by the “Babel Fish,” a magical creature from the sci-fi movie “The Hitchhiker’s Guide to the Galaxy.” “Babel Fish” allows people to understand alien languages. Since its inception, Timekettle has been striving to create a real-life “Babel Fish,” enabling everyone to communicate freely across different languages.

Over the past eight years, Timekettle has revolutionized cross-language cultural communication through a series of innovative products. Initially, Timekettle introduced a handheld translator, which, despite requiring users to press a button and wait, significantly aided in understanding across languages. The evolution continued with the M3 Translator Earbuds, allowing users to listen and respond, though still necessitating manual switching of audio channels.

The breakthrough came with the Timekettle WT2 Edge Simultaneous Translator Earbuds, featuring HybridComm™ technology that enabled two-way, real-time communication. Users could speak and listen simultaneously, making conversations more natural and efficient.

Early this year, Timekettle further advanced its technology to process multiple people’s audio in five different languages simultaneously, pushing the boundaries of cross-language communication.

Each of Timekettle’s technological advancements aims to make cross-language communication as seamless as same-language interactions. And now, the Timekettle W4 Pro AI Interpreter Earbuds enable smooth, effective communication in global business negotiations across languages. Looking forward, Timekettle remains committed to achieving universal communication freedom, continuously enhancing its products to facilitate natural and efficient cross-language interactions.

About Timekettle

Established in 2016, Timekettle is dedicated to advancing cross-language communication through innovative products and solutions. Recognized with numerous international accolades, including the CES Innovation Award, iF Design Award, and Japan Good Design Award, Timekettle’s products have proudly served the needs of cross-language communication in a variety of user scenarios, including abroad-living, traveling, multi-language meetings and classrooms, as well as in manufacturing and logistics, and beyond. Having solidified a user database of more than 400,000, Timekettle continues its journey as the Global No.1 AI Translator Device.

For more information, please visit https://www.timekettle.co/

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