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Google’s cloud unit taps Arm-based chips, adding to Intel, AMD pressure – Reuters

3D printed clouds and figurines are seen in front of the Google Cloud service logo in this illustration taken February 8, 2022. REUTERS/Dado Ruvic/Illustration

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July 13 (Reuters) - Alphabet Inc's (GOOGL.O) Google Cloud unit on Wednesday said it will start adopting computing chips based on technology from Arm Ltd, making it the latest company to join a transition that will take market share from Intel Corp (INTC.O) and Advanced Micro Devices (AMD.O).

Arm, the British chip firm that has said it plans to go public after a megadeal to be acquired by Nvidia Corp (NVDA.O) fell through earlier this year, has long supplied designs and other intellectual property that power chips for smart phones and tablets. In 2018, Arm started offering technology for chips used in data centers, a market dominated by Intel and AMD.

In the four years since, Arm's technology, which it licenses to other companies to weave into complete chips, has showed up in data centers around the world, including those at Amazon.com (AMZN.O), Microsoft Corp and Oracle Corp in the United States and Alibaba (9988.HK), Baidu (9888.HK) and Tencent Holdings Ltd (0700.HK) in China.

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Those firms buy huge volumes of computing chips and then rent out the computing power to software developers via their paid cloud computing services. They all still offer services based on chips from Intel and AMD. But with Google joining the ranks of cloud providers offering Arm-based chips, nearly every major provider now has at least a few offerings based on Arm.

Some of the cloud computing firms such as Amazon and Alibaba are designing their own Arm-based chips and having them manufactured by chip factories. Several others - including Google - are turning to Ampere Computing, a chip firm founded by former Intel executives that has filed confidential paperwork with U.S. securities regulators for an initial public offering.

Google said on Wednesday its new offering will be based on Ampere's "Altra" chips. Ampere is also selling chips to Microsoft and Oracle, among others.

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Reporting by Stephen Nellis in San Francisco; Editing by Leslie Adler

Our Standards: The Thomson Reuters Trust Principles.

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Cloud Tech Co. Beats $450M IP Trial Over Drug Test Software – Law360

By Jasmin Jackson (July 18, 2022, 4:29 PM EDT) -- A New York federal judge has cleared software developer Veeva Systems in its rival's trade secrets suit over technology used for drug-testing trials, determining that there was not enough evidence for a jury to deliberate.

U.S. District Judge Jed Rakoff awarded cloud-computing company Veeva Systems Inc. a judgment as a matter of law on Friday after arguments concluded in the $450 million jury trial with competitor Medidata Solutions Inc., which had accused Veeva of inducing Medidata employees to misappropriate its proprietary clinical trial data and operations software.

Judge Rakoff said he was "a little hesitant" to take the decision out of...

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O’Reilly Announces Launch of Cloud Labs to Meet Increased Demand for Cloud Computing Skills – Business Wire

BOSTON--(BUSINESS WIRE)--OReilly, the premier source for insight-driven learning on technology and business, today announced the launch of cloud labs, providing users with temporary access to a live cloud account alongside expert-guided instruction through its learning platform. Built to make cloud learning more embedded and effective in practitioners day-to-day jobs, cloud labs allow users to move seamlessly from learning new cloud skills to applying them on the job. OReillys initial cloud labs support Microsoft Azure, offering instruction for those who are just beginning to work with cloud-based solutions and services or are new to Azure. Cloud labs build upon the interactive learning environments that OReilly first introduced to its platform in 2019, which have now grown to include nearly 1,000 interactive labs and sandboxes to build hands-on skills in everything from Python to machine learning.

With cloud computing on the rise, organizations around the world are seeking to hire cloud experts at an unprecedented rate. According to 2021 job data from Indeed, the share of cloud computing jobs per million increased by 42% from 2018 to 2021. To help meet this growing need, software developers and engineers are expected to have some level of cloud expertise.

Authored by leading subject matter experts in cloud environments, each OReilly cloud lab is designed to be short, digestible, and practical. Cloud labs provide temporary credentials to a live cloud account and guide learners through real-world use cases with step-by-step instruction. Learners can follow along using either the cloud console UI or an integrated terminal (CLI), giving them the flexibility to practice applying the skills they'll need on the job in the way they prefer to workand do so in a safe environment that wont endanger existing systems and doesnt require additional setup.

Nearly every enterprise today relies on cloud technology. As a result, the demand for cloud talent has shot up, said Laura Baldwin, president at OReilly. However, cloud environments have notoriously steep learning curves, which makes obtaining that necessary experience no easy task. By pairing top-quality instruction with access to live cloud resources, our users gain hands-on experience with the most used cloud environments. Because they have the freedom to make mistakes without consequences, practitioners learn how to solve tangible business problems. And that adds enormous value for their organizations.

The initial launch of cloud labs will target introductory-level job roles and high-yield certifications for those working with Microsoft Azure. Future content releases and enhancements will expand cloud labs into more intermediate and advanced areas for learners who need to add additional cloud expertise to their skill set, with cloud labs on Amazon Web Services (AWS) and Google Cloud to follow.

For more information on OReilly cloud labs, please visit: https://www.oreilly.com/ceros/cloud-labs-register.html.

About OReilly

For over 40 years, OReilly has provided technology and business training, knowledge, and insight to help companies succeed. Our unique network of experts and innovators share their knowledge and expertise through the companys SaaS-based training and learning platform. OReilly delivers highly topical and comprehensive technology and business learning solutions to millions of users across enterprise, consumer, and university channels. For more information, visit http://www.oreilly.com.

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Cloud Computing for Business Operations Market to Witness Massive Growth by 2028 | IBM Cloud, Red Hat, Verizon Cloud Travel Adventure Cinema – Travel…

The latest independent research document on Global Cloud Computing for Business Operations examine investment inMarket. It describes how companies deploying these technologies across various industry verticals aim to explore its potential to become a major business disrupter. The Cloud Computing for Business Operations study eludes very useful reviews & strategic assessment including the generic market trends, emerging technologies, industry drivers, challenges, regulatory policies that propel the market growth, along with major players profile and strategies. This version of Cloud Computing for Business Operations market report advocates analysis of Amazon Web Services, Microsoft Azure, Google Cloud Platform, IBM Cloud, Red Hat, SAP Cloud Platform, Kamatera, VMware, Oracle Cloud, Salesforce Cloud, Cisco Systems, Verizon Cloud, HPE Cloud, Service Now, Alibaba Cloud, Digital Ocean, CenturyLink, Workday, Cloud Sigma & Adobe Cloud.

Get Free Sample Pages of Global Cloud Computing for Business Operations Market Study Now @:https://www.htfmarketreport.com/sample-report/2475873-global-cloud-computing-for-business-operations-market-2

As Cloud Computing for Business Operations research and application [Private Cloud, Hybrid Cloud & Others] continues to expand in scope, the market will see deeper integration and application of more technologies in the future. This commercialization of market is playing a positive role in accelerating Cloud Computing for Business Operations business digitalization, improving industry chain structures and enhancing information use efficiency. The findings mainly focus on category or product type: , Infrastructure as a Service (IaaS), Platform as a Service (PaaS), Software as a Service (SaaS) & Recovery as a Service (RaaS) etc, which underpins many recent advances in the other Cloud Computing for Business Operations technologies.

In order to provide a more informed view, Cloud Computing for Business Operations research offers a snapshot of the current state of the rapidly changing industry, looking through the lenses of both end users and service provides/players ofto come up with a more robust view.

Market Scope

Based on the type of product, themarket segmented into :, Infrastructure as a Service (IaaS), Platform as a Service (PaaS), Software as a Service (SaaS) & Recovery as a Service (RaaS)

Based on the End use application, themarket segmented into :Private Cloud, Hybrid Cloud & Others

Buy this research report @https://www.htfmarketreport.com/buy-now?format=1&report=2475873

Regional Landscape

Geographically, the Cloud Computing for Business Operations market size by revenue is broken down by 18+ countries fromNorth America, LATAM, the Middle East, Asia Pacific, Africa, and Europebased on various characteristics such as geographic footprints and business operation locations of players.

Analysts at HTF MI sheds light on Cloud Computing for Business Operations market data by Country

Asia-Pacific (Vietnam, China, Malaysia, Japan, Philippines, South Korea, Thailand, India, Indonesia, Australia and Others)Europe (Germany, Russia, the UK, Italy, France, Spain, Belgium, Netherlands, Switzerland, Nordic Nations, Rest of Europe.)North America (the United States, Mexico, and Canada)South America (Brazil, Argentina, Chile, Rest of South America)Middle East and Africa (GCC Countries, Turkey, Israel, South Africa, Egypt and Rest of MEA)

The Cloud Computing for Business Operations study cites various market development activities and business strategies such as new product/services development, Joint Ventures, partnerships, mergers and acquisitions, etc that Industry players such as Amazon Web Services, Microsoft Azure, Google Cloud Platform, IBM Cloud, Red Hat, SAP Cloud Platform, Kamatera, VMware, Oracle Cloud, Salesforce Cloud, Cisco Systems, Verizon Cloud, HPE Cloud, ServiceNow, Alibaba Cloud, DigitalOcean, CenturyLink, Workday, CloudSigma & Adobe Cloud are utilizing to overcome macro-economic scenarios. The Cloud Computing for Business Operations Market company profiles include Business Overview, Product / Service Offerings, SWOT Analysis, Segment & Total Revenue, Gross Margin and % Market Share.

Not Matching with Business Objective? Enquire for Customize Report @https://www.htfmarketreport.com/enquiry-before-buy/2475873-global-cloud-computing-for-business-operations-market-2

Extracts from Global Cloud Computing for Business Operations Market Study

1. Market Snapshot2. Global Cloud Computing for Business Operations Market Factor Analysis Value Chain Analysis Growth Drivers, Trends and Challenges Porters 5- Forces Analysis PESTEL Analysis3.Cloud Computing for Business Operations Market by Type (2016-2026) [, Infrastructure as a Service (IaaS), Platform as a Service (PaaS), Software as a Service (SaaS) & Recovery as a Service (RaaS)]4. Market by Applications/ End Users (2016-2026) [Private Cloud, Hybrid Cloud & Others]5.Cloud Computing for Business Operations Market: Country Landscape6. Market Size Breakdown for Each Country7. Competitive Landscape Market Share Analysis by Players Company Profiles

.. Continued

Data Sources & Methodology

The primary sources involve the industry experts from the Global Cloud Computing for Business Operations Market including the management organizations, processing organizations, service providers of the industrial value chain. In the extensive research process undertaken for this study, the primary sources considered such as Postal Surveys, telephone, Online & Face-to-Face Survey to obtain and verify both qualitative and quantitative aspects. When it comes to secondary sources Companys Annual reports, press Releases, Websites, Investor Presentation, Conference Call transcripts, Webinar, Journals, Regulators, National Customs and Industry Associations were used.

Read Detailed Index of full Research Study at @https://www.htfmarketreport.com/reports/2475873-global-cloud-computing-for-business-operations-market-2

Thanks for reading Cloud Computing for Business Operations Industry research publication; you can opt for regional report version like Western Europe, USA, China, Southeast Asia, LATAM, APAC etc. Also, we can serve you with customize research services as HTF MI holds a database repository that includes Public organizations and Millions of Privately held companies with expertise across various Industry domains.

About Author:HTF Market Intelligence consulting is uniquely positioned empower and inspire with research and consulting services to empower businesses with growth strategies, by offering services with extraordinary depth and breadth of thought leadership, research, tools, events and experience that assist in decision making.

Contact US:Craig Francis (PR & Marketing Manager)HTF Market Intelligence Consulting Private LimitedUnit No. 429, Parsonage Road Edison, NJNew Jersey USA 08837Phone: +1 (206) 317 1218[emailprotected]

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Corent Technology and TruStack Partner to Deliver Best-in-Class Cloud Services – Business Wire

ALISO VIEJO, Calif. & LONDON--(BUSINESS WIRE)--TruStack and Corent Technology Inc. today announced their new partnership that will help organizations achieve best-practices in cloud adoption and management through Corents SurPaaS automated cloud platform.

TruStack is a leading provider of specialist managed services, security solutions and hybrid cloud services. TruStack expertise spans Microsoft Azure and on-premise platforms ensuring full flexibility and choice in meeting customer demands. TruStack has chosen to partner with Corent Technology to help customers realize the full benefits of cloud computing.

SurPaaS is a multi-cloud, independent and agnostic platform supporting the full cloud journey for service providers and their customers. SurPaaS offers the greatest flexibility, choice and freedom of movement in achieving digital transformation success. It helps TruStack deliver best-in-class cloud architectures through the migration phase and beyond. The flexibility of SurPaaS lets customers choose when and how to modernise their IT estate, providing options both before the cloud and on the cloud.

Russell Henderson, Technical Director at TruStack, said, We chose to partner with Corent Technology because our customers wish to embrace the move to the cloud, and the modernisation and cost benefits that it can provide. Working with Corent we can deliver our customers a state-of-the-art, best of breed IT platform at a time and a pace that is right for them.

Jeremy Neal, UK Manager for Corent Technology, said, We are delighted to be working with TruStack. Their reputation and passion for customer service, and their capabilities in hybrid cloud solutions match our own vision for excellence in IT service delivery.

About Corent Technology

Corent Technology, Inc. is a leading innovator in the cloud migration and SaaS-enablement technology space. Corents SurPaaS Platform is used by key enterprises, system Integrators and cloud providers to enable rapid discovery, analysis, planning, optimisation, and migration to the cloud; and optionally, automated transformation of software applications to efficient, scalable SaaS. Corent is managed by a team of industry veterans from Microsoft, IBM, HP, EMC, Oracle, and VMware among others. For more information about Corent, please visit http://www.corenttech.com and to contact Corent please drop a note to info@corenttech.com.

About TruStack

TruStack Ltd is a multi-award-winning managed service provider based in the North East of England. TruStack specializes in delivering end-to-end solutions from the inception and design phase, through to delivery and on-going-management. TruStack takes a consultative approach when looking at each individual business requirement and propose a solution that best fits the needs of the client. Our solutions are built on both public and private cloud offerings to facilitate the right solution for a client based upon a hybrid cloud strategy. TruStack always aim to provide innovative solutions, expert support and outstanding service.

For more information, please visit http://www.trustack.co.uk or contact enquiries@trustack.co.uk.

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These are 10 of the best-performing stocks since Jim Cramer’s ‘Mad Money’ debuted on TV – CNBC

Jim Cramer

Scott Mlyn | CNBC

With "Mad Money" relocating to the New York Stock Exchange floor, Jim Cramer on Monday looked back at some of the best-performing stocks since his show debuted on CNBC more than 17 years ago.

Here is a quick overview of the criteria used to compile the list:

Now, here are 10 of the best-performing stocks since "Mad Money" has been on TV:

Netflix takes the cake, with its shares up 13,853% since "Mad Money" debuted. Cramer noted the streaming-video pioneer maintained the top spot, even with its large year-to-date declines.

Up next is Apple, which has seen its its stock advance 10,321%, as of Friday, in the time "Mad Money" has been on TV. "In 2005 I was recommending it on the strength of the iPod, but then they come up with the iPhone and the rest is history," Cramer said.

Regeneron Pharmaceuticals, whose CEO, Leonard Schleifer, was one of the first guests to appear on "Mad Money," has gained more than 10,000% since the show's debut.

The energy drink maker is the fourth-best performer, checking in with a gain of 8,444% over the aforementioned time period.

The company formerly known as Priceline has "beaten out its competitors in the online travel space," Cramer said. Since "Mad Money" debuted on CNBC through Friday, the stock advanced 7,599%.

Chip designer Nvidia gained 7,211% between the March 14, 2005, close and Friday. Similarly to Netflix, Nvidia's giant upside move includes the stock's struggles since its November all-time high.

The ecommerce and cloud computing giant is the seventh-best gainer, rising 6,463% over the specified time window. Cramer noted the stock's gains would've been even more impressive if not for its roughly 32% year-to-date decline.

Shares of biotech firm Illumina advanced 4,918% between the close of March 14, 2005, and Friday.

Monolithic Power Systems designs integrated circuits that are used for power management, and some of the semiconductor firm's biggest end markets include the automotive and computing and storage sectors. The stock is up 4,784%, as of Friday, since "Mad Money" debuted on CNBC.

Tyler Technologies is a software maker that, essentially, enables cities and towns to go digital. The company's shares have gained 4,642% over the aforementioned window.

Cramer said some of the best-performing stocks may seem obvious with the benefit of hindsight. Regardless, he said the exercise shows the power of sticking with the market even through periods of turbulence like the global financial crisis of 2007-2009. He said the lesson is especially valuable to remember this year, as the market has struggled amid a Federal Reserve tightening cycle and geopolitical uncertainty.

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Disclaimer

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Why Google Cloud Beats AWS, Azure In Silicon Valley: CloudWerx – CRN

Cloud News Mark Haranas July 14, 2022, 02:28 PM EDT

One of Google Clouds fastest-growing partner startups, CloudWerx, explains to CRN why Google Cloud is besting AWS and Azure, and why CloudWerx placed its bet on Google versus the competition.

Fast-Growing Startup CloudWerx Is Winning With Google Cloud

One of Google Clouds fastest-growing partners says its Silicon Valley customers are placing their bets on Google versus Amazon Web Services and Microsoft Azure, which helped CloudWerx achieve Google Clouds Premier Partner status faster than any other channel partner in history.

Were seeing a ton of this now in Silicon Valley where the customers that are AWS 100 percent, they now want more leverage, said CloudWerx CEO and co-founder Jason Geis. Then once they start to play around with Google, they love it. And once it gets in, then it just continues to grow.

San Jose, Calif.-based CloudWerx is a cloud consulting startup that placed its future on Google Cloud versus AWS or Microsoft Azure.

The solution provider has a focus on winning digital-native companies in Californias Silicon Valley area with a 100 percent customer retention rate. CloudWerx is on pace to increase annual revenue by 10-times in 2022, with Google Cloud sales accounting for the vast majority of sales.

AWS is the worldwide market share leader in cloud computing, holding approximately 33 percent share of the global market as of the first quarter of 2022, according to IT research firm Synergy Research Group.

Microsoft Azure is No. 2 at 22 percent global cloud market share, followed by Google Cloud at No. 3 at 10 percent share.

CloudWerxs sales and marketing leader Betsy Reed said Google Cloud is currently offering the best-in-class technology out of any cloud vendor in the market today.

Obviously, Amazons the leader. You then have Azure and then you have Google coming up in third place. But its not because the product isnt superior, its because they just hadnt focused their efforts and energy in selling and servicing customers on their public cloud, said Reed, who co-founded the cloud startup. Google now, in our humble opinion, has the best-in-class cloud platform with the Google Cloud Platform with the most native features, security and otherwise.

In an interview with CRN, Geis and Reedwho both have decades of experience in the IT and channel industrytalk about why Google Cloud is gaining momentum on AWS and Azure.

Mark Haranas is an assistant news editor and longtime journalist now covering cloud, multicloud, software, SaaS and channel partners at CRN. He speaks with world-renown CEOs and IT experts as well as covering breaking news and live events while also managing several CRN reporters. He can be reached at mharanas@thechannelcompany.com.

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Network as a Service Market Worth $46.6 Billion by 2027 – Exclusive Report by MarketsandMarkets – PR Newswire

CHICAGO, July 18, 2022 /PRNewswire/ --According to a new market research report "Network as a Service Market by Type (LAN and WLAN, WAN, Communication and Collaboration, and Network Security), Organization Size (Large Enterprises and SMEs), Application, End User (BFSI, Manufacturing, Healthcare) and Region - Global Forecast to 2027", published by MarketsandMarkets, the global Network as a Service Market size is expected to grow at a Compound Annual Growth Rate (CAGR) of 19.0% during the forecast period, to reach USD 46.6 billion by 2027 from USD 13.2 billion in 2022. Virtual private networks (VPNs), MPLS links, and other obsolete network architectures can all be replaced with NaaS. Additionally, it may take the position of onsite network infrastructure like load balancers and firewalls appliances. The enterprise networking architecture has been significantly impacted by NaaS, a more recent approach for traffic routing and enforcing security requirements.

Browse in-depth TOC on"Network as a Service Market"277 Tables35 Figures296 Pages

Download PDF Brochure:https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=94208411

As per type, the network security segment to grow at highest CAGR during the forecast period

The Network as a Service Market by type is segmented into LAN and WLAN, WAN, communication and collaboration, and network security. As per type, the network security segment is expected to grow at the highest CAGR during the forecast period. Globally, there is a lot of corporate, private, and regulatory data on network connection. There have been significant social and economic losses as a result of the rise in cyberattack against businesses. Organizations have been required to invest more in security as a consequence, which is anticipated to drive the expansion of the network security segment over the course of the projected year.

Small and Medium-Sized Segment to grow at the highest CAGR during the forecast period

As per organization size, small and medium size Segment to grow at the highest CAGR for the Network as a Service Market during the forecast period. The Network as a Service Market by organization size is segmented into large enterprises and SMEs. SMEs adoption of contemporary IT infrastructures and operational processes optimization are two aspects anticipated to foster sector growth throughout the projected term. By combining cloud computing, automation, and virtualization, a distribution system has been created that provides connection support for small enterprises much more affordably and reliably. Especially as they transition to automation, the clouds, and experiment with cutting-edge digital technologies, smaller businesses are expected to boost their IT investment, which will be beneficial to NaaS providers.

As per region, North America to have the highest market size during the forecasted period

As per region, North America to have the highest market size during the forecasted period. The US is a big contributor to the market expansion in North America. Early acceptance of cutting-edge technical solutions as well as notable program evaluation by industry stakeholders through collaborations with multiple industry participants are both responsible for the rise. The market for network-as-a-service in North America is expanding as a result of cloud computing's widespread adoption, sophisticated IT infrastructure, and a growing consolidation of the major organizations in the industry.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=94208411

Some of the major Network as a Service Market vendors are AT&T (US), Verizon (US), Telefonica (Spain), NTT Communications (Japan), Orange Business Services (France), Vodafone (UK), BT Group (UK), Tata Communications (India), Lumen (US), Comcast Business (US), Axians (France), Servsys (US), TELUS (Canada), KDDI (Japan), Cloudflare (US), PCCW Global (China), China Telecom (China), Singtel (Singapore), China Mobile (China), GTT Communications (US), Aryaka Networks (US), Telia (Sweden), Telstra (Australia), Deutsche Telekom (Germany), Colt Technology Services (UK), Wipro (India), HGC (China), TenFour (US), PacketFabric (US), OnX Canada (Canada), Megaport (Australia), Epsilon (Singapore), IPC Tech (US), and Microland (India).

Browse Adjacent Markets: Data Center and Networking Market Research Reports& Consulting

Browse Related Reports

Software-Defined Wide Area Network (SD-WAN) Marketby Component (Solutions (Software and Appliances) and Services), Deployment Type (On-Premises and Cloud), End User (Service Providers and Verticals), and Region - Global Forecast to 2025

Network Automation Marketby Network Automation Tool, Intent-Based Networking, Network Type (Physical, Virtual, and Hybrid), Service, Deployment Mode (Cloud and On-Premises), End User, Enterprise Vertical, and Region - Global Forecast to 2025

About MarketsandMarkets

MarketsandMarkets provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:Mr. Aashish MehraMarketsandMarkets INC.630 Dundee RoadSuite 430Northbrook, IL 60062USA: +1-888-600-6441Email: [emailprotected]Research Insight: https://www.marketsandmarkets.com/ResearchInsight/network-as-a-service-market.asp Visit Our Website: https://www.marketsandmarkets.com Content Source: https://www.marketsandmarkets.com/PressReleases/network-as-a-service.asp

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Citigroup is actively investing to improve automation, says CFO – CFO Dive

Dive Brief:

Investment in technology is also becoming a key expense driver for the bank. Expenses overall increased 8% for Citigroup, and 3% of that spend was driven by transformation investments, Mason said, with two-thirds relating to risk, control, data and finance programs.

Approximately 25% of the investments in those programs are related to technology, he said during the earnings call. And as of today, we have over 9,000 people dedicated to the transformation.

Citigroup revenue topped analyst expectations for the second quarter, the only one of the four major banks which reported earnings this past week to do so. Revenue jumped by 11% to $19.6 billion. JPMorgan Chase, Morgan Stanley and Wells Fargo, meanwhile, all reported tepid second quarter results, with Chase CEO Jamie Dimon pointing to continuing geopolitical tensions and inflation as factors that will likely continue to negatively impact the economy.

Citis technology and transformation spend are geared toward consolidating its platforms and services in favor of cloud-based solutions, with the bank inking an agreement with a major software provider to both modernize and move its 16 ledger platforms to one cloud-based ledger over a multiyear period, according to its Friday earnings call.

While IT spending is expected to reach $4.5 trillion globally this year according to a July 13 prediction by Gartner, CFOs and other key members of the C-Suite such as chief information officers (CIOs) are growing more discerning with where they place those funds and towards what technologies. Gartner adjusted its forecast for overall IT growth this year from 5% to 3%, with executives facing an increasingly tight labor market especially regarding technology skills likely to turn more frequently to third-party firms and services rather than building out their own platforms.

A July 1 CNBC survey also found three-quarters of tech leaders expect their organizations tech spend to continue to grow this year, but companies are also likely to shell out more funds for software and advanced technologies such as artificial intelligence (AI) rather than hardware. AI, cloud computing, automation and machine learning were the top areas tech decision-makers expected to spend.

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VivoAquatics and the VivoPoint Solution, Shortlisted for 2022 SaaS Awards – PR Web

Richard Lindhorn, Vice President VivoAquatics said: To be awarded this recognition in the SaaS Awards, the SaaS industrys de facto recognition platform, is an immense honor. It demonstrates a true commitment to excellence and innovation from our team.

LOS ANGELES (PRWEB) July 18, 2022

VivoAquatics and the VivoPoint solution, has been shortlisted in the 2022 SaaS Awards program in the following categories

Best SaaS Innovation in the Internet of Things Best SaaS for Catering and Hospitality Best SaaS for Productivity Best SaaS Product for Business Intelligence or Analytics

Now in its seventh year of celebrating software innovation, the Software Awards program accepts entries worldwide, including the US, Canada, Australasia, EMEA and UK.

Categories for 2022 include Best Enterprise-Level SaaS and Best Data-Driven SaaS, alongside new categories including Most Agile or Responsive SaaS Solution of the Year.

Head of operations for the SaaS Awards, James Williams, said: Innovative technologies have always driven industry forward, and having disrupted the software business, SaaS continues to mature as a key driver for sustained improvement across manifold verticals.

SaaS technologies are now part of successful business DNA. Continuing to evolve, this year weve seen a raft of truly remarkable software solutions, making it extremely difficult for our team to eliminate candidates at the shortlist stage.

The shortlisted candidates announced today, however, have proven to be truly innovative thinkers in the SaaS industry, whether theyre freshly-funded disruptors or established names.

Our judges were very impressed with the volume of original solutions for modern business in all industry areas. Stay tuned for our August announcement of category finalists, representing those few solutions who can demonstrate that extra edge in impressing our international panel of judges, who are now left with a next-to impossible task.

Richard Lindhorn, Vice President VivoAquatics said: To be awarded this recognition in the SaaS Awards, the SaaS industrys de facto recognition platform, is an immense honor. It demonstrates a true commitment to excellence and innovation from our team.

SaaS Awards finalists will be announced on Tuesday 23 August 2022, with the ultimate category winners announced on Tuesday 13 September 2022.

To view the full shortlist, please visit: https://www.cloud-awards.com/2022-saas-awards-shortlist/.

The SaaS Awards program will return with a new program in Spring 2023. Hundreds of organizations entered, with entries coming from North America, Canada, Australia, UK, Europe and the Middle East.

A sister program to the SaaS Awards, The Cloud Awards Cloud Computing Awards, will soon accept submissions for a new 2022-23 program, continuing its recognition of excellence in cloud computing, with an October deadline.

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