NEW YORK, Nov. 28, 2024 /PRNewswire/ — Report on how AI is redefining market landscape – The global edge data center market size is estimated to grow by USD 22.11 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 23.57% during the forecast period. Rising demand for video streaming services is driving market growth, with a trend towards implementation of ai in data centers. However, monitoring edge data center equipment across multiple locations poses a challenge. Key market players include 365 Data Centers, Compass Datacenters LLC, DC BLOX Inc., Dell Technologies Inc., Digital Realty Trust Inc., Eaton Corp. Plc, EdgeConneX Inc., Equinix Inc., Flexential Corp., Friedhelm Loh Stiftung and Co. KG, Fujitsu Ltd., Hewlett Packard Enterprise Co., Hitachi Ltd., Huawei Technologies Co. Ltd., International Business Machines Corp., Johnson Controls International Plc, Panduit Corp., Schneider Electric SE, Vapor IO Inc., and Vertiv Holdings Co..

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Key Market Trends Fueling Growth

Edge data centers are gaining popularity in today’s digital world, particularly in industries that require real-time data processing and low latency. Trends like Big Data, Artificial Intelligence, Cloud, Streaming services, and 5G are driving the need for edge computing. Edge data centers help businesses process data closer to the source, improving application performance, network traffic management, and business agility. Industries like E-commerce platforms, Walmart, and the logistics industry are adopting edge data centers for data processing and industrial automation. Edge data centers are also essential for industries with remote sites, such as branch offices, production floors, and oil rigs. Edge data centers are crucial for industries with high network traffic, like AI applications, machine learning, natural language processing, and video streaming. Dell Technologies, Equinix Inc, EdgeConneX Inc, and vXchnge are leading providers of edge data center components, services, IT racks & enclosures, DCIM software, data center analytics, professional services, and managed services. Edge data centers help businesses in the IT & telecom industry, BFSI industry, Government industry, Healthcare & life science, and Retail & E-commerce industries to operate more efficiently. Edge data centers also help improve the streaming experience for gaming & entertainment applications. Despite their benefits, edge data centers face challenges such as dust, heat, and vibration. Remote operations and managing components in edge data centers require specialized skills and services. However, the benefits of edge computing far outweigh the challenges. 

Edge data centers are enhancing energy efficiency through the implementation of Artificial Intelligence (AI). AI technology enables faster decision-making and optimization of server, power, and cooling systems. Edge data center service providers use AI in automation software to eliminate human intervention, leading to energy savings. Additionally, AI facilitates effective cooling control, allowing for optimal power usage in the overall data center process. By utilizing AI, edge data centers can improve performance, reduce costs, and ensure efficient operations. 

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Market Challenges

Edge data centers are becoming essential for businesses as they deal with increasing demands for ‘big data’, ‘artificial intelligence’, and ‘cloud’ services from ‘streaming services’, ‘5G’, and ‘e-commerce platforms’. Challenges include managing ‘real-time data analysis’, ‘network traffic’, and ‘application performance’ at the edge. ‘Dell Technologies’ and other providers offer ‘components’ and ‘services’ for edge data centers, addressing issues like ‘operating costs’, ‘latency’, and ‘performance’. Industries like logistics, ‘industrial automation’, and ‘autonomous automobiles’ benefit from edge data centers for ‘data processing’ and ‘remote operations’. Edge data center providers like Equinix Inc, EdgeConneX Inc, and vXchnge offer ‘modular data centers’ and ‘professional services’ to meet the needs of various industries, including IT & telecom, BFSI, government, healthcare & life science, and retail & e-commerce. However, edge data centers also face challenges such as ‘dust’, ‘heat’, and ‘vibration’ management. Companies like Walmart and Dell Technologies are investing in edge data centers for ‘business agility’ and improved ‘streaming experience’.Managing edge data centers presents unique challenges due to the decentralized nature of these facilities, which often have their own power and cooling systems. Keeping track of inventory across multiple edge sites requires real-time monitoring of cabinet equipment, including servers, networking devices, power distribution units (PDUs), and patch panels, as well as infrastructure devices and structured cabling. To address this challenge, end-users need a dashboard that displays real-time power and environmental status of their edge data centers on a single screen. This information enables administrators to identify potential issues such as hot spot formation, power capacity limitations, and loss of redundancy, allowing for proactive intervention. Effectively managing IT equipment from the core to the edge data center necessitates a team of Network Operations Center (NOC) technicians and experts.

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Segment Overview 

This edge data center market report extensively covers market segmentation by

End-user 1.1 IT and telecommunication1.2 Manufacturing and automotive1.3 BFSI1.4 Healthcare and life sciences1.5 OthersComponent 2.1 IT infrastructure2.2 General construction2.3 Power management systems2.4 Cooling systems2.5 OthersGeography 3.1 North America3.2 APAC3.3 Europe3.4 South America3.5 Middle East and Africa

1.1 IT and telecommunication- The edge data center market for the BFSI sector refers to the implementation of edge data centers designed to address the unique needs and challenges of the financial services industry. Edge data centers are smaller-scale facilities situated near end-users, delivering fast, secure processing and high-performance computing capabilities at the network’s edge. In the BFSI sector, edge data centers are utilized for various applications and services, such as real-time transaction processing, ensuring minimal latency and enhancing customer experience. Compliance with regulations is another key benefit, as edge data centers can be strategically placed in different regions to adhere to local data storage and privacy regulations while maintaining data security. Additionally, edge data centers play a vital role in disaster recovery and business continuity, offering data replication and backup capabilities to ensure uninterrupted operations. Advanced AI-powered analytics are also supported by edge data centers, enabling real-time processing of vast amounts of data and delivering valuable insights for informed decision-making. The growing adoption of cloud computing, artificial intelligence, and the Internet of Things (IoT) in the BFSI sector is expected to fuel the demand for edge data centers, making them essential for supporting BFSI operations in the forecast period.

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Research Analysis

The Edge Data Center Market is experiencing significant growth due to the increasing demand for real-time data analysis, low latency, and improved application performance. Big data, artificial intelligence, cloud, streaming services, 5G, and the Internet of Things (IoT) are driving this trend, as businesses seek to gain insights from network traffic and optimize their operations. Edge data centers are ideal for processing data closer to the source, reducing the need for long-distance data transfer and improving business agility. Edge data centers are essential for various industries, including e-commerce platforms, Walmart, branch offices, production floors, remote sites, and industrial automation. They enable AI applications, machine learning, natural language processing, and video streaming, among others. However, edge data centers face unique challenges, such as managing dust, heat, and vibration in remote locations, and the need for remote operations. Dell Technologies and other key players are investing in edge infrastructure solutions to address these challenges and meet the evolving needs of businesses.

Market Research Overview

The Edge Data Center Market is experiencing significant growth due to the increasing demand for real-time data analysis and application performance in various industries. Big data, artificial intelligence, cloud, streaming services, 5G, and the Internet of Things (IoT) are driving this trend. Edge data centers are essential for businesses seeking to reduce latency, improve streaming experience, and enhance business agility. They are being deployed in diverse sectors such as e-commerce platforms, Walmart, branch offices, production floors, remote sites, and industrial automation. Edge data centers are also crucial for AI applications, machine learning, natural language processing, and video streaming in industries like logistics, autonomous automobiles, and gaming & entertainment. Dell Technologies, Equinix Inc, EdgeConneX Inc, and vXchnge are key players in this market. Edge data centers come with modular designs, components, and services including IT racks & enclosures, DCIM software, data center analytics, professional services, and managed services. Operating costs are a concern, but the benefits of improved performance and network traffic handling outweigh the expenses. The large facility segment, IT & telecom industry, BFSI industry, government industry, healthcare & life science, and retail & e-commerce are major consumers of edge data centers.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

End-userIT And TelecommunicationManufacturing And AutomotiveBFSIHealthcare And Life SciencesOthersComponentIT InfrastructureGeneral ConstructionPower Management SystemsCooling SystemsOthersGeographyNorth AmericaAPACEuropeSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

NEW YORK, Nov. 28, 2024 /PRNewswire/ — Report with the AI impact on market trends – The global human capital management solutions market size is estimated to grow by USD 13.92 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of about 9.52%  during the forecast period. Demand for automated recruitment processes is driving market growth, with a trend towards emergence of cloud-computing services. However, threat from open-source software  poses a challenge. Key market players include Asure Software Inc., Automatic Data Processing Inc., Cegid SA, Ceridian HCM Holding Inc., Cognizant Technology Solutions Corp., EmployWise, Inplenion, Koch Industries Inc., Kronos Inc., OnePoint Human Capital Management, Oracle Corp., PeopleStrategy Corp., Ramco Systems Ltd., Safeguard World International LLC, SAP SE, SolutionDot, Talentia Software Group, The Goldman Sachs Group Inc., Workday Inc., and WorkForce Software LLC.

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Market Driver

Human Capital Management (HCM) solutions have become essential for businesses looking to streamline HR processes and improve organizational productivity. Trends in this market include cloud adoption, automation, and artificial intelligence. Cloud-based HCM software allows for quick deployment and scalability, reducing installation time and non-core spending. APIs enable seamless integrations with other business applications like CRM and finance systems. Employees expect personalized HR services, and HCM solutions offer coaching tools and learning opportunities. Decision-making is enhanced through data analytics, which provides insights into business outcomes and organizational roles. Data security concerns are addressed through encryption and access controls. Emerging vendors offer innovative solutions, while established players provide proven expertise. Hiring processes are streamlined with mobile recruitment and social media integration. Talent management solutions help organizations attract, develop, and retain top talent. SaaS delivery model ensures easy access to HCM solutions, while machine learning and AI automate administrative tasks. Businesses in various sectors, including the E-commerce sector, benefit from HCM solutions. HR departments can work smarter, focusing on strategic sourcing and building relationships, while HR professionals manage HR information and procedures more efficiently. The future of HCM solutions lies in providing personalized services, reducing position posting time, and addressing the needs of a decentralized workforce. 

In today’s business landscape, cloud computing is a significant trend in the IT industry, and Human Capital Management (HCM) solutions are no exception. By utilizing cloud storage for critical HR information, organizations can save costs and allow central administration to manage all resources and HR activities remotely. This setup eliminates the need for users to maintain IT infrastructure and handle updates, as service providers handle these tasks under contract. By adopting cloud-based HCM solutions, businesses can streamline HR processes, ensure data security, and focus on their core competencies. 

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 Market Challenges

Human Capital Management (HCM) solutions have become essential for businesses looking to streamline HR processes, improve employee engagement, and drive organizational productivity. However, implementing an HCM system comes with its challenges. Access to client’s data and ensuring data security are top concerns, especially with the rise of cloud-based HCM solutions. Administrative tasks, such as API integrations and installations, can be time-consuming. Moreover, businesses must consider the scalability and security of cloud-based deployment, especially when dealing with decentralized data and sensitive information. Automation of HR procedures through AI and machine learning can reduce position posting time and manual labor, but it also raises data security concerns. HR managers need personalized HR services to meet employee expectations, and the use of mobile applications and social media integration can enhance recruitment processes. Established vendors offer comprehensive HCM software, including payroll, learning, and talent management, while emerging vendors bring innovation through new product lines and technologies. HR professionals must evaluate the cost-effectiveness of cloud adoption, considering non-core spending on IT and the reduction in time for HR procedures. Ultimately, the goal is to work smarter, improve organizational cultures, and drive business outcomes through effective HCM solutions.The preference for digital technologies in Human Capital Management (HCM) solutions has led to an increase in the popularity of open-source software. Multiple companies provide on-premise and cloud-based open-source software for HCM, such as Sapplica’s HRMS software, Sentrifugo. Features include human resource management, performance appraisal, analytics, background checks, leave management, talent acquisition, expense management, and assets management. Open-source HCM software poses a significant challenge to the global HCM solutions market, offering cost-effective alternatives to proprietary solutions. Some companies also offer separate software for specific HR functions, like recruitment and performance appraisal.

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Segment Overview 

This human capital management solutions market report extensively covers market segmentation by 

Application 1.1 Core HR1.2 Talent1.3 WorkforceComponent 2.1 Solution2.2 ServiceGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Core HR-  Core HR functions such as recruitment, training, payroll, scheduling, benefits administration, internal relations, and safety and compliance are essential for organizations. HR applications under Human Capital Management (HCM) solutions are expected to grow significantly due to the adoption of digital technologies, cost reduction needs, and efficient workforce management. Oracle Corp., SAP SE, and Workday Inc. Provide HR functional software solutions for managing employee data and processing HR functions. Traditional HR Information Systems (HRIS) and Human Resource Management Systems (HRMS) have seen a decline as HCM solutions offer more advanced features. These solutions increase organizational efficiency with effective workforce management and real-time problem-solving abilities. Consequently, the use of HCM solutions for core HR applications is expected to increase during the forecast period.

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Research Analysis

The Human Capital Management (HCM) Solutions market is a dynamic and growing industry, focused on helping businesses optimize their workforce and enhance productivity through HR Management software and updated HR Information Systems (HRIS). These solutions offer various functionalities, including talent management, strategic sourcing, and staff experiences. However, data security concerns remain a significant challenge, necessitating security measures. Deployment options range from on-premises to cloud-based solutions, with emerging vendors challenging established players in the market. Product lines continue to extend, addressing the needs of businesses with manual labor and complex workflows. HRMS software solutions are increasingly popular, streamlining HR processes and providing real-time data access. The market’s future growth is expected to be driven by the increasing demand for efficient HR management and the continuous evolution of technology.

Market Research Overview

Human Capital Management (HCM) solutions refer to the use of technology and software to manage HR functions, including recruitment, hiring, employee engagement, learning and development, payroll, and benefits administration. These solutions enable businesses to automate administrative tasks, streamline HR processes, and access real-time data for informed decision making. Cloud-based HCM solutions offer scalability, flexibility, and quick deployment, allowing businesses to adapt to changing workforce needs. Big data and machine learning are increasingly being used in HCM solutions to provide insights into employee performance, organizational productivity, and talent management. APIs and integrations with other business applications, such as CRM and finance systems, enable seamless data flow and improved business outcomes. Data security is a major concern for HCM solutions, as they often handle confidential employee data. Cloud-based deployment raises concerns around data storage, access, and unauthorized access. HCM solutions must provide security features, including encryption, multi-factor authentication, and access controls, to mitigate these risks. Employees expect personalized HR services and experiences, which can be delivered through mobile applications, social media integration, and AI-powered chatbots. HCM solutions must also support remote work cultures and provide tools for coaching, learning, and development to attract and retain top talent. Emerging vendors are disrupting the HCM market with innovative solutions, while established vendors continue to offer comprehensive product lines and strong support for HR departments. HCM solutions are increasingly being adopted in the E commerce sector and other industries, leading to a reduction in time and cost for HR procedures and an improvement in workforce productivity.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ApplicationCore HRTalentWorkforceComponentSolutionServiceGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

VANCOUVER, BC, Nov. 28, 2024 /CNW/ – JEMTEC Inc. (TSXV: JTC) (the “Company”) is providing an update on its performance for the year ended July 31, 2024 and the Company’s financial situation, with no debt, strong liquidity and increasing net worth.

Y/E Revenues
Revenues have increased by 17% during the year ended July 31, 2024 compared to the year ended July 31, 2023 primarily due to the expansion with the province of Saskatchewan. The Company earned revenues on its agreements with the Provinces of Saskatchewan, CSC, interest on cash balances and from private bail clients waiting release from court dates.

Y/E Expenses
During the year ended July 31, 2024, expenses decreased by 4% compared to the year ended July 31, 2023 primarily due to the fluctuations in monitoring and activation, equipment rental and installation, shipping, consulting fees, director fees, share-based payments, and travel.

Y/E Income Tax
For the fiscal year ended July 31, 2024, the Company income tax expense of $30,534 (2023 – $52,000 recovery) and a deferred income tax recovery of $2,000 (2023 – $37,000 expense). The current income tax (recovery) expense was related to income tax in Canada.

Y/E Net Income
For the year ended July 31, 2024, the Company recorded a net income of $90,301, compared to a net loss of $206,906 during the year ended July 31, 2023. This increase in net income is primarily associated with the expansion of the Saskatchewan contract and the decrease in certain expenses related to the loss of contracts.

Y/E Liquidity
As at July 31, 2024, the Company had cash and cash equivalents of $2,406,673 and working capital of $2,320,729. All cash and cash equivalents are on deposit with a Schedule I bank in Canada in current or interest accruing accounts.

Eric Caton, President and CEO said, “We are pleased with this fiscal years progress and we continue to see the Company well positioned to grow its core business”. Jemtec has provided a full spectrum of monitoring technologies and services to provincial and federal correctional and border services across Canada since 1987 and in doing so has built a reputation for offering the best technological solutions and support for use in this demanding environment.

FORWARD-LOOKING STATEMENTS

This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward – looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

SOURCE Jemtec Inc.