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Omdia research highlights diverse vendor solutions constitutes $1.6bn FinOps market

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LONDON, July 23, 2024 /PRNewswire/ — Recent Omdia research indicates that FinOps is a rapidly developing discipline that enterprises use to control, optimize, and manage their cloud spending. The market consists of established vendors from various management disciplines and new specialized start-ups.

The cloud has experienced significant growth in both scope and scale over recent years, with numerous organizations migrating to leverage its flexibility and operational expense model. This shift has set the stage for cloud computing to become the dominant technology for the next decade. The cloud market has reached a crucial turning point, with more than 50% of workloads now running on some form of public cloud, marking the late majority adoption stage, according to Omdia’s IT Enterprise Insights: IoT, Cloud, AI, 5G, and Sustainability – 2024 survey.

The rise of FinOps has addressed initial financial concerns regarding cloud computing by enhancing the understanding and optimization of cloud costs. These concerns stem from the fact that six cloud service providers (CSPs) dominate approximately 80% of the market as highlighted in the Omdia survey.

Omdia’s report further clarifies the FinOps sector by outlining the key characteristics of a solution. The current market reality is that the FinOps foundation is working to standardize cost and usage billing presentations, allowing organizations to implement consistent processes for data ingestion and analysis across various cloud providers. This standardization will enable organizations to compare cloud service costs across different platforms, although FinOps solutions address the other key capabilities in diverse ways. Despite these efforts, the market remains an emerging market consisting of native cost management from cloud providers, independent platforms, custom-built solutions (mostly XL spreadsheets), and specialized tools. 

Figure 1 shows Omdia’s FinOps model, which we view as consisting of two primary areas: cost management and cost optimization. Cost management includes crucial capabilities such as data ingestion, budget and cost management, analysis and reporting, financial integration and automation, and data management. The cost optimization area encompasses key capabilities such as cost allocation and chargeback, forecasting, rate optimization, and usage optimization.

According to Omdia’s Chief Analyst Roy Illsley, “the FinOps market is still evolving, comprising new startups, large vendors developing FinOps capabilities, and established vendors acquiring them. Omdia estimates the market’s value at around $1.6bn. Although there is no current forecast for the FinOps market (expected in 2025), its growth is tied closely to cloud computing, projected to grow at a 14% CAGR from 2022 to 2027. Given that FinOps is still maturing, it is reasonable to assume that the FinOps market will grow faster than the cloud computing market.”

“FinOps vendors are developing solutions to autonomously manage usage and rate optimization in using cloud computing. Yet, the refinement of optimizing cloud-native Kubernetes deployments remains an ongoing challenge for many vendors,” concludes Illsley.

ABOUT OMDIA

Omdia, part of Informa Tech, is a technology research and advisory group. Our deep knowledge of tech markets combined with our actionable insights empower organizations to make smart growth decisions.  

Contact: Fasiha Khan Fasiha.khan@omdia.com 

 

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TVCMALL Leads Wholesale Innovation for Simplified Online Retail Business Success at CES 2025

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LAS VEGAS, Jan. 11, 2025 /PRNewswire/ — CES 2025, one of the largest tech events globally, concluded with over 4,000 exhibitors showcasing breakthroughs in AI, digital health, and mobility. TVCMALL, a leading one-stop B2B wholesaler, made its second consecutive appearance at the event, delivering comprehensive solutions and introducing a new brand, LEMONDA. With a focus on eco-friendly products and AI-driven accessories, TVCMALL is redefining the wholesale experience for global entrepreneurs.

Revolutionizing Wholesale with AI and Sustainability
TVCMALL is a one-stop platform offering over 1 million SKUs, including mobile accessories, smart tech, and consumer electronics. At CES 2025, the company presented a range of cutting-edge products, from biodegradable phone cases to AI-driven gadgets like Meta Quest 3 headbands, wireless chargers, power banks, and gaming accessories. As part of its innovative approach, TVCMALL launched LEMONDA, a lifestyle brand focused on sustainability. Featuring lightweight, corrosion-resistant resin smartwatch straps and eco-friendly packaging, LEMONDA aligns with the growing demand for green solutions in tech, further cementing TVCMALL’s commitment to a sustainable future.

Comprehensive Solutions for Retailers
TVCMALL simplifies sourcing with an extensive catalog and AI-powered ordering systems, allowing businesses to streamline purchasing and make data-driven decisions. With no minimum order quantity (MOQ) on most products and a flexible dropshipping service, TVCMALL supports businesses with customized solutions tailored to their needs. Whether through personalized packaging or exclusive designs, TVCMALL helps entrepreneurs enhance their brand visibility and stay competitive. The platform also integrates with Amazon and custom APIs for a seamless experience.

Commitment to Quality and Global Growth
TVCMALL is dedicated to helping entrepreneurs succeed in both established and emerging markets. By offering competitive prices, fast delivery, and in-depth market insights, TVCMALL empowers businesses to expand into regions like Europe, Southeast Asia, and Brazil. The company works with trusted partners like Dux Ducis, CaseMe, and Nillkin, ensuring the reliability and quality of its offerings. Additionally, TVCMALL provides value-added services like product photography, factory inspections, and certifications (CE, RoHS), assisting clients with smooth market entry.

“At TVCMALL, our vision is to build a more generous and thriving world,” said Leo Chen, Founder and Chairman of TVCMALL. “CES 2025 is not just an exhibition for us; it’s an opportunity to collaborate, innovate, and inspire a new era of retail and technology.”

For more information, please visit www.tvcmall.com or contact sales@tvcmall.com.

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The green power trading electricity volume in Turfan has surged significantly in 2024

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TURFAN, China, Jan. 11, 2025 /PRNewswire/ — On January 9, 2024, data released by Xinjiang Power Trading Centre Co., Ltd. indicated that the green power trading electricity volume in the Turfan region reached 0.97 billion kWh, representing a remarkable year-on-year increase of up to 14 times. This substantial growth underscores the region’s successful transition towards green energy.

State Grid Turfan Power Supply Company has taken proactive measures to expedite the development of the green power market. The company has facilitated the government’s introduction of a renewable energy consumption action plan, specifying new energy consumption ratios for key energy-consuming entities and establishing a market mechanism with a high proportion of new energy. These efforts have effectively promoted the “new energy participation in all trading varieties of the 24-hour curve” trading model and ensured continuous market opening on working days, thereby better accommodating the fluctuating characteristics of new energy output.

Furthermore, State Grid Turfan Power Supply Company established a green power certificate service station in Gaochang District, providing customers with convenient green power trading services and fostering a green consumption atmosphere throughout society. During the Autonomous Region Tourism Development Conference and the Turfan Grape Festival, the company achieved 100% green power supply and assisted three export-oriented enterprises in achieving low-carbon transformation, thereby enhancing the international influence of their brands.

Looking ahead, State Grid Turfan Power Supply Company will continue to implement measures to expand its “Power Supply + Energy Efficiency Bill” service, guiding society towards more efficient, economical, and environmentally friendly electricity usage, and contributing to the clean and low-carbon transformation of local energy resources.

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Equipboard Unveils Sleek Redesign to Enhance Music Gear Discovery for Musicians Worldwide

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Redesign Introduces Modern Features, Streamlined Navigation, and Richer Content to Inspire and Support Music Makers Globally

AUSTIN, Texas, Jan. 11, 2025 /PRNewswire-PRWeb/ — Equipboard, the leading online community for musicians and gear enthusiasts, announces the launch of its newly redesigned website. With a modern look, streamlined navigation, and powerful new features, the redesign sets a new standard for connecting artists, producers, and hobbyists with the tools they need to create music.

Since its inception in 2013, Equipboard has grown into the world’s largest database of music gear used by professionals and amateurs alike. The redesign reflects the platform’s commitment to fostering creativity, offering transparent information, and making gear discovery and purchasing easier and more enjoyable for its global user base.

What’s New?

Equipboard’s redesign is more than just a fresh coat of paint. It introduces a host of improvements aimed at elevating the way users explore, share, and connect over their favorite gear:

    Modernized Design: A sleek, responsive layout ensures a seamless experience across all devices, with improved readability and accessibility.    Enhanced Navigation: Faster, more intuitive browsing helps users discover gear, artists, and inspiration effortlessly. Whether searching for a guitarist’s pedalboard or a producer’s go-to synth, the information is now at their fingertips.    Richer Content: Equipboard now features in-depth guides, expert-curated collections, and a revamped artist gear section to inspire and inform users at all levels of their musical journey.    Personalized Experience: Registered users can now enjoy a more tailored interface, saving their favorite gear and creating wishlists for their next creative adventure.    Price Comparisons Across Leading Retailers: Equipboard helps musicians make informed decisions by comparing prices on music gear from top retailers, ensuring they get the best value for their investment.    Community-Focused Features: New tools make it easier for users to contribute to Equipboard’s ever-growing database, ensuring the platform remains the most trusted source for music gear information.

“Equipboard has always been about empowering musicians by connecting them with the tools and insights they need,” said Michael Pierce, Co-Founder. “This redesign reflects our commitment to innovation and community, creating an experience that’s as inspiring as the gear our users discover. From in-depth artist insights to real-time price comparisons, we’re excited to see how these improvements help musicians worldwide make better gear choices and create amazing music.”

About Equipboard

Equipboard is the ultimate online resource for musicians and gear enthusiasts. With a mission to provide transparent, community-driven information about the gear used by artists and professionals, Equipboard has become a trusted destination for millions of music creators. The platform also simplifies the buying process with its innovative price comparison tool, helping users find the best deals from leading retailers. From electric guitars to studio monitors, Equipboard’s extensive database helps users make informed decisions about their music-making journey.

The redesigned Equipboard is now live at https://equipboard.com, offering a fresh look and enhanced tools to support music creators in exploring the gear behind their favorite artists’ sound.

Media Contact

Michael Pierce, Equipboard, 888-888-8888, contact@equipboard.com, https://equipboard.com/

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