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NEW YORK, Aug. 9, 2022 /PRNewswire/ -- The Insight Partners published latest research study on "Predictive Analytics Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Component [Solution (Risk Analytics, Marketing Analytics, Sales Analytics, Customer Analytics, and Others) and Service], Deployment Mode (On-Premise and Cloud-Based), Organization Size [Small and Medium Enterprises (SMEs) and Large Enterprises], and Industry Vertical (IT & Telecom, BFSI, Energy & Utilities, Government and Defence, Retail and e-Commerce, Manufacturing, and Others)", the global predictive analytics market size is projected to grow from $12.49 billion in 2022 to $38.03 billion by 2028; it is expected to grow at a CAGR of 20.4% from 2022 to 2028.

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Predictive Analytics Market Report Scope & Strategic Insights:

Report Coverage

Details

Market Size Value in

US$ 12.49 Billion in 2022

Market Size Value by

US$ 38.03 Billion by 2028

Growth rate

CAGR of 20.4% from 2022 to 2028

Forecast Period

2022-2028

Base Year

2022

No. of Pages

229

No. Tables

142

No. of Charts & Figures

100

Historical data available

Yes

Segments covered

Component, Deployment Mode, Organization Size, and Industry Vertical

Regional scope

North America; Europe; Asia Pacific; Latin America; MEA

Country scope

US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends


Predictive Analytics Market: Competitive Landscape and Key Developments

IBM Corporation; Microsoft Corporation; Oracle Corporation; SAP SE; Google LLC; SAS Institute Inc.; Salesforce.com, inc.; Amazon Web Services; Hewlett Packard Enterprise Development LP (HPE); and NTT DATA Corporation are among the leading players profiled in this report of the predictive analytics market. Several other essential predictive analytics market players were analyzed for a holistic view of the predictive analytics market and its ecosystem. The report provides detailed predictive analytics market insights, which help the key players strategize their growth.

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In 2022, Microsoft partnered with Teradata, a provider of a multi-cloud platform for enterprise analytics, for the integration of Teradata's Vantage data platform into Microsoft Azure.

In 2021, IBM and Black & Veatch collaborated to assist customers in keeping their assets and equipment working at peak performance and reliability by integrating AI with real-time data analytics.

In 2020, Microsoft partnered with SAS for the extension of their business solutions. As a part of this move, the companies will migrate SAS analytical products and solutions to Microsoft Azure as a preferred cloud provider for SAS cloud.

Increase in Uptake of Predictive Analytics Tools Propels Predictive Analytics Market Growth:

Predictive analytics tools use data to state the probabilities of the possible outcomes in the future. Knowing these probabilities can help users plan many aspects of their business. Predictive analytics is part of a larger set of data analytics; other aspects of data analytics include descriptive analytics, which helps users understand what their data represent; diagnostic analytics, which helps identify the causes of past events; and prescriptive analytics, which provides users with practical advice to make better decisions.

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Prescriptive analytics is similar to predictive analytics. Predictive modeling is the most technical aspect of predictive analytics. Data analysts perform modeling with statistics and other historical data. The model then estimates the likelihood of different outcomes. In e-commerce, predictive modeling tools help analyze customer data. It can predict how many people are likely to buy a certain product. It can also predict the return on investment (ROI) of targeted marketing campaigns. Some software-as-a-service (SaaS) may collect data directly from online stores, such as Amazon Marketplace.

Predictive analytics tools may benefit social media marketing by guiding users to plan the type of content to post; these tools also recommend the best time and day to post. Manufacturing industries need predictive analytics to manage inventory, supply chains, and staff hiring processes. Transport planning and execution are performed more efficiently with predictive analytics tools. For instance, SAP is a leading multinational software company. Its Predictive Analytics was one of the leading data analytics platforms across the world. Now, the software is gradually being integrated into SAP's larger Cloud Analytics platform, which does more business intelligence (BI) than SAP Predictive Analytics. SAP Analytics Cloud, which works on all devices, utilizes artificial intelligence (AI) to Boost business planning and forecasting. This analytics platform can be easily extended to businesses of all sizes.

North America is one of the most vital regions for the uptake and growth of new technologies due to favorable government policies that boost innovation, the presence of a substantial industrial base, and high purchasing power, especially in developed countries such as the US and Canada. The industrial sector in the US is a prominent market for security analytics. The country consists of a large number of predictive analytics platform developers. The COVID-19 pandemic enforced companies to adopt the work-from-home culture, increasing the demand for big data and data analytics.

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The pandemic created an enormous challenge for businesses in North America to continue operating despite massive shutdowns of offices and other facilities. Furthermore, the surge in digital traffic presented an opportunity for numerous online frauds, phishing attacks, denial of inventory, and ransomware attacks. Due to the increased risk of cybercrimes, enterprises began adopting advanced predictive analytics-based solutions to detect and manage any abnormal behavior in their networks. Thus, with the growing number of remote working facilities, the need for predictive analytics solutions also increased in North America during the COVID-19 pandemic.

Predictive Analytics Market: Industry Overview

The predictive analytics market is segmented on the basis of component, deployment mode, organization size, industry vertical, and geography. The predictive analytics market analysis, by component, is segmented into solutions and services. The predictive analytics market based on solution is segmented into risk analytics, marketing analytics, sales analytics, customer analytics, and others. The predictive analytics market analysis, by deployment mode, is bifurcated into cloud and on-premises. The predictive analytics market, by organization size, is segmented into large enterprises, and small and medium-sized enterprises (SMEs). The predictive analytics market, by vertical, is segmented into BFSI, manufacturing, retail and e-Commerce, IT and telecom, energy and utilities, government and defense, and others.

In terms of geography, the predictive analytics market is categorized into five regions—North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). The predictive analytics market in North America is sub segmented into the US, Canada, and Mexico. Predictive analytics software is increasingly being adopted in multiple organizations, and cloud-based predictive analytics software solutions are gaining significance in SMEs in North America. The highly competitive retail sector in this region is harnessing the potential of this technique to efficiently transform store layouts and enhance the customer experience in various businesses. In a few North American countries, retailers use smart carts with locator beacons, pin-sized cameras installed near shelves, or the store's Wi-Fi network to determine the footfall in the store, provide directions to a specific product section, and check key areas visited by customers. This process can also provide basic demographic data for parameters such as gender and age.

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Wal-Mart, Costco, Kroger, The Home Depot, and Target have their origin in North America. The amount of data generated by stores surges with the rise in sales. Without implementing analytics solutions, it becomes difficult to manage such vast data that include records, behaviors, etc., of all customers. Players such as Euclid Analytics offer spatial analytics platforms for retailers operating offline to help them track customer traffic, loyalty, and other indicators associated with customer visits. Euclid's solutions include preconfigured sensors connected to switches that are linked through a network. These sensors can detect customer calls from devices that have Wi-Fi turned on. Additionally, IBM's Sterling Store Engagement solution provides a real-time view of store inventory, and order data through an intuitive user interface that can be accessed by store owners from counters and mobile devices.

Heavy investments in healthcare sectors, advancements in technologies to help manage a large number of medical records, and the use of Big Data analytics to efficiently predict at-risk patients and create effective treatment plans are further contributing to the growth of the predictive analytics market in North America. Predictive analytics helps assess patterns in a patients' medical records, thereby allowing healthcare professionals to develop effective treatment plans to Boost outcomes. During the COVID-19 pandemic, healthcare predictive analytics solutions helped provide hospitals with insightful predictions of the number of hospitalizations for various treatments, which significantly helped them deal with the influx of a large number of patients. However, the high costs of installation and a shortage of skilled workers may limit the use of predictive analytics solutions in, both, the retail and healthcare sectors.

Browse Adjoining Reports:

Procurement Analytics Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Application (Supply Chain Analytics, Risk Analytics, Spend Analytics, Demand Forecasting, Contract Management, Vendor Management); Deployment (Cloud, On Premises); Industry Vertical (Retail and E Commerce, Manufacturing, Government and Defense, Healthcare and Life sciences, Telecom and IT, Energy and Utility, Banking Financial Services and Insurance) and Geography

Risk Analytics Market Forecast to 2028 - Covid-19 Impact and Global Analysis - by Component (Software, Services); Type (Strategic Risk, Financial Risk, Operational Risk, Others); Deployment Mode (Cloud, On-Premise); Industry Vertical (BFSI, IT and Telecom, Manufacturing, Retail and Consumer Goods, Transportation and Logistics, Government and Defense, Energy and Utilities, Healthcare and Life Sciences, Others) and Geography

Preventive Risk Analytics Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Component (Solution, Services); Deployment Type (On-Premise, Cloud); Organization Size (SMEs, Large Enterprises); Type (Strategic Risks, Financial Risks, Operational Risks, Compliance Risks); Industry (BFSI, Energy and Utilities, Government and Defense, Healthcare, Manufacturing, IT and Telecom, Retail, Others) and Geography

Business Analytics Market Forecast to 2028 - Covid-19 Impact and Global Analysis - by Application (Supply Chain Analytics, Spatial Analytics, Workforce Analytics, Marketing Analytics, Behavioral Analytics, Risk And Credit Analytics, and Pricing Analytics); Deployment (On-Premise, Cloud, and Hybrid); End-user (BFSI, IT & Telecom, Manufacturing, Retail, Energy & Power, and Healthcare)

Big Data Analytics Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Component (Software and Services), Analytics Tool (Dashboard and Data Visualization, Data Mining and Warehousing, Self-Service Tool, Reporting, and Others), Application (Customer Analytics, Supply Chain Analytics, Marketing Analytics, Pricing Analytics, Workforce Analytics, and Others), and End Use Industry (Pharmaceutical, Semiconductor, Battery Manufacturing, Electronics, and Others)

Data Analytics Outsourcing Market to 2027 - Global Analysis and Forecasts by Type (Descriptive Data Analytics, Predictive Data Analytics, and Prescriptive Data Analytics); Application (Sales Analytics, Marketing Analytics, Risk & Finance Analytics, and Supply Chain Analytics); and End-user (BFSI, Healthcare, Retail, Manufacturing, Telecom, and Media & Entertainment)

Sales Performance Management Market Forecast to 2028 - Covid-19 Impact and Global Analysis - by Solution (Incentive Compensation Management, Territory Management, Sales Monitoring and Planning, and Sales Analytics), Deployment Type (On-premise, Cloud), Services (Professional Services, Managed Services), End User (BFSI, Manufacturing, Energy and Utility, and Healthcare)

Customer Analytics Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Component (Solution, Services); Deployment Type (On-premises, Cloud); Enterprise Size (Small and Medium-sized Enterprises, Large Enterprises); End-user (BFSI, IT and Telecom, Media and Entertainment, Consumer Goods and Retail, Travel and Hospitality, Others) and Geography

Life Science Analytics Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Predictive Analytics, Prescriptive Analytics, Descriptive Analytics); Component (Services, Software); End User (Pharmaceutical & Biotechnology Companies, Research Centers, Medical Device Companies, Third-Party Administrators)

About Us:

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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Killexams : Anaconda Announces Strategic Cloud Partnership with Oracle

AUSTIN, Texas, Aug. 9, 2022 — Anaconda Inc., provider of the world’s most popular data science platform, today announced a collaboration with Oracle Cloud Infrastructure to offer secure open-source Python and R tools and packages by embedding and enabling Anaconda’s repository across OCI Artificial Intelligence and Machine Learning Services. Customers have access to Anaconda services directly from within OCI without a separate enterprise license.

“We are committed to helping enterprises secure their open-source pipelines through the ability to use Anaconda anywhere, and that includes inside the Oracle Cloud,” said Peter Wang, CEO and co-founder of Anaconda. “By combining Anaconda’s package dependency manager and curated open-source repository with OCI’s products, data scientists and developers can seamlessly collaborate using the open-source Python tools they know and trust – while helping meet enterprise IT governance requirements.”

Python has become the most popular programming language in the data science ecosystem, and for good reason; it is a widely-accessible language that facilitates a variety of programming-driven tasks. Because the velocity of innovation powered by the open-source community outpaces any single technology vendor, more and more organizations are adopting open-source Python for enterprise use.

“Oracle’s partnership to provide data scientists with seamless access to Anaconda not only delivers high-performance machine learning, but also helps ensure strong enterprise governance and security,” said Elad Ziklik, vice president, AI Services, Oracle. “With security built into the core OCI experience, plus the security of Anaconda’s curated repository, data scientists can use their favorite open-source tools to build, train, and deploy models.”

Together, Anaconda and Oracle are looking forward to bringing open-source innovation to the enterprise, helping apply ML and AI to the most important business and research initiatives. For more information on how to use Anaconda in OCI, click here.

About Anaconda

With more than 30 million users, Anaconda is the world’s most popular data science platform and the foundation of modern machine learning. We pioneered the use of Python for data science, champion its vibrant community, and continue to steward open-source projects that make tomorrow’s innovations possible. Our enterprise-grade tools are the leading solution for securing and managing commercial uses of Python, and enable corporate, research, and academic institutions around the world to harness the power of open-source for competitive advantage, groundbreaking research, and building a smarter, better world.


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Killexams : Blockchain in Retail Market

(MENAFN- EIN Presswire)

Blockchain in Retail Market

Rapid change in retail sector and international trade is expected to create a number of opportunities for the key players in the industry.

PORTLAND, PORTLAND, OR , UNITED STATES , August 2, 2022 /EINPresswire.com / -- Rise in need to ensure quality, reliability, authenticity, and product safety, increase in investment by retail industries in blockchain-based solutions, and upsurge in transactions transparency fuel the growth of the global blockchain in retail market .

Key industry players such as - Amazon Web Services, Inc. (AWS), Auxesis Services & Technologies (P) Ltd., Bitfury Group Limited, Cognizant, Infosys Limited,International Business Machines Corporation (IBM), Microsoft Corporation, Oracle Corporation, SAP SE, and Tata Consultancy Services Limited.

The global blockchain in retail market garnered $83.00 million in 2018, and is estimated to reach $11.18 billion by 2026, growing at a CAGR of 84.6% from 2019 to 2026.

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Based on application, the payments & smart contracts segment contributed to more than two-fifths of the global blockchain in retail market in 2018, and is expected to retain its dominance till 2026. This is attributed to increase in demand from enterprises to fill the analog gap between contracts, increase in need to streamline online payments, and cut down fraud. On the other hand, the loyalty and rewards management segment, would grow at the fastest CAGR of 97.0% from 2019 to 2026. The growing need to streamline the development and exchange of loyalty points across retailers and various programs is the major factor driving the growth. In addition, with a time-stamped and tamper-proof database of transactions, retailers can track and secure loyalty program transactions transparently which leads the market growth, as well.

Based on geography, North America accounted for more than two-fifths of the global blockchain in retail market revenue in 2018, and is anticipated to dominate throughout the forecast period. This is attributed to the presence of major market players, and the growing concerns of fraud in the regions drives the growth. Simultaneously, the region across Asia-Pacific would cite the fastest CAGR of 92.0% by the end of 2026. Factors such as growing data security concerns and customer demands, and rise in number of counterfeit goods are propelling the growth of the market.

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Based on component, the platform segment held the major share in 2018, generating more than two-thirds of the global blockchain in retail market. The growing need for safe and secure transmission of data across supply chain is driving the growth of this segment. At the same time, the services segment would register the fastest CAGR of 89.3% during the study period. Blockchain services allow retailers to bring innovation across the industry and helps them in creating new value for their businesses, which augments the growth of the segment.

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Latest news and industry developments in terms of market expansions, acquisitions, growth strategies, joint ventures and collaborations, product launches, market expansions etc. are included in the report.

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Blockchain in BFSI Market


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Killexams : Marine Management Software Market Growing at a CAGR 11.2% | Key Player Oracle, ABB, DockMaster, Marina Master, Marinacloud
Marine Management Software Market Growing at a CAGR 11.2% | Key Player Oracle, ABB, DockMaster, Marina Master, Marinacloud

“Oracle (US), ABB (Switzerland), DockMaster (US), Marina Master (Slovenia), Marinacloud (Croatia), Lloyd’s Register (UK), TIMEZERO (France), Scribble Software (US), MarineCFO (US), Chetu (US), MESPAS (Switzerland), Dockwa (US), Swell Advantage (Canada), Marina Ahoy (Estonia), Harba (Denmark), Harbour Assist (UK), Havenstar (England).”

Marine and Marine Management Software Market by Component (Software and Services), Location (Onboard and Onshore), Application (Crew Management, Port Management, and Reservation Management), Deployment Mode, End User, and Region – Global Forecast to 2026

The global Marine and Marine Management Software Market size to grow from USD 1.7 billion in 2021 to USD 2.9 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 11.2% during the forecast period. Factors such as rising need to efficiently manage complex supply chain operations, increase sustainability across marine industry, and increasing demand for centralized administrative of data to reduce overall shipment costs and enhance shipyard productivity are driving the adoption of the marine software market across the globe.

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COVID-19 is disrupting the world, businesses, and economies, thus impacting on the livelihood of people live, their interaction, and the way they manage their businesses. The ability to sustain has become the new normal for enterprises as they shift their focus from growth opportunities and concentrate on implementing drastic measures to mitigate the impact of the COVID-19 pandemic. The competition among major marine software companies is expected to be furious as most upcoming projects are kept on hold due to the pandemic. Hence, several companies will fight to gain a single project. Businesses have already started their efforts to return back to normal and are facing multiple challenges on the customer as well as operational side. In a short time, the COVID-19 outbreak has caused the shipping and maritime industry to face the nastiest circumstances as the workforce in these sectors has been shut down for the safety and prevention of the increase of the pandemic. This impediment has also been affected due to the standstill of all kinds of cargos via water or air during this isolation period as the transportation of such cargos in ships or through the air can be possibly carrying with it the virus from one port to another. All the trade chains, including the major import and export trade, is in the face with a breakdown. Moreover, a ban has also been imposed by various countries on the entry of containers and vessels that are being operated from other ports, especially those that are transported from China. Such obstructed operations have hampered with the logistics and operations of the maritime industry. The maritime, transport and shipping industry is coated with foremost challenges during these pandemic times.

The services segment to hold higher CAGR during the forecast period

Based on components, the marine and marine management software market is segmented into solutions and services. The services segment has been further divided into professional and managed services. These services play a vital role in the functioning of marine software, as well as ensure faster and smoother implementation that maximizes the value of the enterprise investments. The growing adoption of marina software is expected to boost the adoption of professional and managed services. Professional service providers have deep knowledge related to the products and enable customers to focus on the core business, while MSPs help customers Boost business operations and reduce overall expenses.

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According to Havenstar, marine software is a multilingual system that supports multi-currency transactions and facilitates secure information sharing between marinas. It is easy for staff to use so that they can keep their customer relations running smooth. It is a marina software tool that supports staff to manage the resources, employees, customers, finances, and security of their marina and boatyards in the most effective way possible.

Some of the key players operating in the marine and marine management software market include Oracle (US), ABB (Switzerland), DockMaster (US), Marina Master (Slovenia), Marinacloud (Croatia), Lloyd’s Register (UK), TIMEZERO (France), Scribble Software (US), MarineCFO (US), Chetu (US), MESPAS (Switzerland), Dockwa (US), Swell Advantage (Canada), Marina Ahoy (Estonia), Harba (Denmark), Harbour Assist (UK), Havenstar (England), Gestalt Systems (Germany), Seahub (US), BlueShell (Switzerland), Raymarine (UK), Ayden Marine (Turkey), OceanManager (US), Innovez One (Singapore), RMS (Australia), Nautical Software (US), CorVant (US). These marine and marine management software vendors have adopted various organic and inorganic strategies to sustain their positions and increase their market shares in the global marine and marine management software market.

Oracle was incorporated in 1977 and is headquartered in California, US. The company is a global leader in delivering a broad spectrum of products, solutions, and services designed to meet the requirements of corporate IT environments, such as platforms, applications, and infrastructure. Oracle’s customers include businesses of various sizes, government agencies, educational institutions, and resellers. The company, directly and indirectly, sells its products and services through a worldwide sales force and Oracle Partner Network, respectively. It specializes in developing, manufacturing, and marketing hardware systems, databases, middleware software, and application software. It provides SaaS offerings that are designed to incorporate emerging technologies, such as IoT, AI, ML, and blockchain. It operates through three business segments: cloud and license, hardware, and services, in more than 175 countries and caters to 4,30,000 customers across banking, telecommunications, engineering and construction, financial services, healthcare, insurance, public sector, retail, and utilities verticals. In the marine software market, Oracle offers the cruise ship technology solution designed specifically to optimize operations on a cruise ship for port management and crew management applications. Oracle offers Shipboard Property Management System (SPMS), Fleet Management System (FMS), Fine Dining System (FDS), and integration facility as well.

ABB was founded in 1988 and is headquartered in Zurich, Switzerland. It is a leading global technology company that strengthens the transformation of society and industry to achieve a more productive, sustainable future. ABB is a technology-driven company that helps raise the performance of the business. It is present in the industry for more than 130 years now. ABB delivers its services in 100 countries and has an employee base of more than 90,000 till 2021. The company operates in the robotics industry, motors and generators, drives, smart buildings, eMobility, marine vessels; turbocharging; data centers; renewable energy; technology; energy; utilities; transport; and oil, gas, and chemicals. And semiconductors industry verticals. ABB assists marine and ports to drive the evolution of sustainable shipping with electrical propulsion, data-driven decision support, and integrated solutions for ship and shore for port management and crew management applications. ABB is paving the way to a zero-emission marine industry by providing greater efficiency and reliability to ship and vessel owners.

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Killexams : Social Media Management Market In-Depth Analysis with Booming Trends Supporting Growth and Forecast – 2026
Social Media Management Market In-Depth Analysis with Booming Trends Supporting Growth and Forecast - 2026

“Adobe (US), IBM (US), Google (US), Oracle (US), Salesforce (US), Sprout Social (US), Hootsuite (Canada), Meltwater (US), Sprinklr (US), Digimind (France), HubSpot (US), Clarabridge (US), Khoros (US), Falcon.io (Denmark), Zoho Corporation (India), NetBase (US), Brandwatch (UK), Talkwalker (Europe), Buffer (US), Agorapulse (France), Sendible (UK), MavSocial (US).”

Social Media Management Market by Component (Solutions (Social Media Marketing, Social Media Asset and Content Management), Services), Deployment Mode, Organization Size, Application, (Sales and Marketing), Vertical – Global Forecast to 2026

The Social Media Management Market size is projected to grow from USD 14.4 billion in 2021 to USD 41.6 billion in 2026, at a Compound Annual Growth Rate (CAGR) of 23.6% during the forecast period. The major factors driving the growth of the Social Media Management market include the rise in need in focus on the social media management market and competitive intelligence, need to drive search RoI for social media strategy, enhancement of customer experience with social media management, the shift of people toward virtual realm due to COVID-19 and the increase in user engagement of social media using smartphones.

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Based on solutions, risk and compliance management solutions segment to grow at a higher CAGR during the forecast period

Social media has become a powerful tool for businesses to use in connecting with their customers. The medium has certainly made major corporations more accessible to the consumer. But with this ease of accessibility comes risk in many forms. Risk and compliance management incorporates platforms and solutions to maintain the integrity and security of content published on social media and sensitive information, including customer data and company contact.

Based on deployment mode, on-premises expected to hold a small part of market size as compare to cloud during the forecast period

On-premises social media management solutions are hosted in the client environment, where the social media management solution is hosted by customers on their own IT infrastructure. In this deployment mode, the customer side manages the supporting IT infrastructure, security patches, maintenance, updates, and monitors physical or virtual servers for data storage. Social media management vendors or their partners work together with the client to install and configure the solution in the client’s IT environment. On-premises social media management is offered through license/annual subscription where a client pays a fixed annual fee, including maintenance.

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Major Social Media Management vendors include Adobe (US), IBM (US), Google (US), Oracle (US), Salesforce (US), Sprout Social (US), Hootsuite (Canada), Meltwater (US), Sprinklr (US), Digimind (France), HubSpot (US), Clarabridge (US), Khoros (US), Falcon.io (Denmark), Zoho Corporation (India), NetBase (US), Brandwatch (UK), Talkwalker (Europe), Buffer (US), Agorapulse (France), Sendible (UK), MavSocial (US), Socialbakers (Czech Republic), Synthesio (US), and eClincher (US). These market players have adopted various growth strategies, such as partnerships, collaborations, and new product launches, to expand have been the most adopted strategies by major players from 2019 to 2021, which helped companies innovate their offerings and broaden their customer base.

Adobe (US), is one of the leading vendors in the Social Media Management market. The company is one of the prominent players focusing on developing multimedia and creativity software products and services. Since its inception, the company has been offering social media management solutions. It partnered with social media management platforms to support brands delivering personalized and relevant experiences across the entire customer journey. The company offers Adobe Experience Cloud products. It is a collection of applications and services. It comes with various functionalities which help gather insights for audience, content management, campaign management, customer engagement, advertisement management, channel management, and more. It allows measuring the success of campaigns, which helps predict and understand customer behavior. Adobe integrates with ML to optimize and test web and mobile applications.

IBM (US) is another provider of Social Media Management solutions and services across the globe. It caters to the latest technologies and services to its clientele across the globe. The company offers a vast portfolio of social media marketing and social media management products and solutions for helping its clients in enhancing their decision-making. It is constantly upgrading its capabilities for assisting its customers in improving their brands with the help of intelligent media marketing and media management solutions. It integrates technologies, such as AI and blockchain, to expand social media management and cloud platform. For instance, in 2021, IBM acquired myInvenio to enhance the hybrid-cloud and AI capabilities of the company and further enable its clients to optimize business processes. In 2018, IBM acquired IRIS.TV to increase viewer engagement with the help of a new solution, Video Recommendations. IBM is a reputed IT company and has a very strong and widely scattered customer base across the globe.

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IoT in Manufacturing Market by Component (Solutions (Network Management and Data Management) and Services (Professional and Managed)), Deployment Mode, Organization Size, Application, Vertical (Process and Discrete) and Region – Global Forecast to 2026

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Killexams : Product Information Management (PIM) Market Growing at a CAGR 14.3% | Key Player Oracle, SAP, IBM, Informatica, Pimcore

The MarketWatch News Department was not involved in the creation of this content.

Jul 11, 2022 (AB Digital via COMTEX) -- The global Product Information Management Market size to grow from USD 12.2 billion in 2022 to USD 23.8 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 14.3% during the forecast period. Growing demands for better customer experience, as well as updating product information across all the channels, demand for delivering contextualized user experience, and a raise in digital content across enterprises, are among the major factors boosting the growth of the PIM market. 

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As per verticals, the media & entertainment segment to grow at highest CAGR during the forecast period

PIM market is segmented into BFSI, consumer goods & retail, manufacturing, IT & telecom, media & entertainment, healthcare & life sciences, transportation & logistics, and other verticals (education, and travel & hospitality). As per verticals, the media & entertainment vertical is expected to grow at the highest CAGR during the forecast period. The demand for PIM among media & entertainment industry vertical is rising owing to rising need for data silos, different data management systems, diverse and vast product portfolios, dispersed product information, changing consumer expectations, and growing demand for reducing the time-to-market.

Cloud Segment to grow at the highest CAGR during the forecast period

As per deployment mode, Cloud Segment to grow at the highest CAGR for the cPIM market during the forecast period. The PIM market by deployment type is segmented into on-premises and cloud deployment type. On-premises deployment type is preferred by large enterprises as such organizatios prefer information to be kept on local server as cloud has security issues. However, large enterprises and SMEs have started adopting cloud services and solutions in oreder to reduce their CAPEX. Moreover, cloud-based solutions offerd scalability, flexibility and pay as you go model which helps orgnizations to save cost and access services and solutions anywhere at any time. However, security issues associated with cloud deployment type is expected to impact its adoption during the forecast period.

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The PIM solutions enable companies to create, update, and maintain product information to optimize product data synchronization and publishing, ensure faster TTM, increase brand awareness, drive online traffic and sales, and enhance customer experience and satisfaction. Furthermore, emerging technologies, such as AI, and the integration capabilities of PIM solutions with various data platforms, such as ERP and marketing platforms, and merging capabilities, such as DAM and content management, have facilitated better product assortment and improved data syndication in real time therefore, its demand across organizations are increasing

Some of the key players operating in the content services platform market include Oracle (US), SAP (US), IBM (US), Informatica (US), Pimcore (Austria), Akeneo (France), Inriver (Sweden), Winshuttle (US), Riversand (US), Salsify (US), Aprimo (US), Stibo Systems (Denmark), Contentserv (Switzerland), Mobius (India), Perfion (Denmark), Profisee (US), Censhare (Germany), Vinculum (India), Pimworks (US), Truecommerce (US), Vimedici (germany), Magnitude Software (US), Plytix (Denmark) and Syndigo (US). These PIM vendors have adopted various organic and inorganic strategies to sustain their positions and increase their market shares in the global PIM market.

IBM was founded in 1911 and is headquartered in New York, US. The company is listed on the New York Stock Exchange (NYSE) under the ticker symbol IBM. It is one of the leading providers of hardware; software; and a broad range of infrastructure, hosting, cloud, and consulting services in areas ranging from mainframe computers to nanotechnology. It operates through six business segments: cloud and cognitive software, global business services, global technology services, systems, global financing, and others. It offers a diversified product portfolio ranging from software to finances and storage to integrated systems. IBM provides solutions to various verticals, such as IT, healthcare and life sciences, government, telecom, automobile, manufacturing, fast-moving consumer goods, chemicals and petroleum, electronics, energy and power, media and entertainment, mining, retail, BFSI, travel and transportation, and education. It has a presence in more than 175 countries in regions of North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.

In 2009, Pimcore was developed at New Media Solutions GmbH by digital agency elements. In 2010, the company launched its first public beta version. However, the Pimcore GmbH was officially established in Salzburg, Austria, in 2013 and is headquartered in Salzburg, Austria. It is an open-source Digital Experience Platform (DXP) provider and makes it possible to collaborate in a single platform across the entire digital organization. The company’s PIM, MDM, CDP, and DAM modules consolidate any type and amount of digital information – to solve enterprise data issues, such as scattered, siloed, and messy data. Pimcore PIM software centralizes and harmonizes marketing, sales, and technical product information. Its Content Management System (CMS) and digital commerce modules personalize the customer experience, including marketing automation. A fully API-driven architecture enables superior TTM and unmatched connectivity. Enterprises choose Pimcore to solve digital transformation challenges because it ensures flexibility, intellectual property ownership, continuous innovation, and the lowest Total Cost of Ownership (TCO). The open-source software can be used free of charge by organizations of any size or in any industry. Its more than 150 employees provide optional Service Level Agreements (SLAs), training and professional consulting, implementation, and integration services. It has enabled thousands of customers globally, including Burger King, Audi, T-Mobile, and IKEA, to help centralize their data management operations, simplify IT architectures, automate processes, and create stunning digital experiences that provide significant value for their businesses. Furthermore, the company has a prominent geographic presence with offices across North America, Europe, and the Asia Pacific.

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Killexams : Graph Database Market Trends, Size, Share, Growth, Industry Analysis, Advance Technology and Forecast 2026

"Oracle Corporation (US), IBM Corporation (US), Amazon Web Services, Inc. (US), DataStax (US), Ontotext (Bulgaria), Stardog Union (US), Hewlett Packard Enterprise (US), ArangoDB (US), Blazegraph (US), Microsoft Corporation (US), SAP SE (Germany), Teradata Corporation (US), Openlink Software (US), MarkLogic Corporation (US), TIBCO Software, Inc. (US)."

Graph Database Market by Type (RDF and LPG), Application (Fraud Detection and Prevention, and Recommendation Engine), Component (Software and Services), Deployment Mode, Vertical, and Region - Global Forecast to 2026

The global Graph Database Market size to grow from USD 1.9 billion in 2021 to USD 5.1 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 22.5% during the forecast period. Various factors such as need to incorporate real-time big data mining with visualization of results, increasing adoption for AI-based graph database tools and services to drive market, and growing demand for solutions that can process low-latency queries are expected to drive the adoption of graph database solutions and services.

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COVID-19’s global impact has shown that interconnectedness plays an important role in international cooperation. As a result, several governments started rushing toward identifying, evaluating, and procuring reliable solutions powered by AI. Graph databases and AI are invaluable to organizations managing uncertainty in real-time, but most predictive models rely on historical patterns. The use of graph database and AI has accelerated in the COVID-19 pandemic period. This has helped organizations engage customers through digital channels, manage fragile and complex supply chains, and support workers through disruption to their work and lives. New practices, such as work from home and social distancing, have led to the requirement of graph database solutions and services and the development of digital infrastructures for large-scale technology deployments. The COVID-19 pandemic in 2020 brought accelerating changes in consumer preferences and behaviors and putting pressure on brands to keep pace and provide a personalized customer experience. Enterprises have witnessed a reduction in their operational spending and are now focusing more on business continuity and sustainability.

Technology and service providers have been facing significant disruption to their businesses from COVID-19. Hence, the COVID-19 pandemic has disrupted the global financial markets and has created panic, uncertainty, and distraction in the operations of global corporations.

Scope of the Report

Report Metric

Details

Market size available for years

2015–2026

Base year considered

2020

Forecast period

2022–2026

Forecast units

 USD Million

Segments covered

Component, Deployment Mode, Organization Size, Type, Application, Vertical, and Region

Geographies covered

North America, Europe, APAC, MEA, and Latin America

Companies covered

Oracle Corporation (US), IBM Corporation (US), Amazon Web Services, Inc. (US), DataStax (US), Ontotext (Bulgaria), Stardog Union (US), Hewlett Packard Enterprise (US), ArangoDB (US), Blazegraph (US), Microsoft Corporation (US), SAP SE (Germany), Teradata Corporation (US), Openlink Software (US), MarkLogic Corporation (US), TIBCO Software, Inc. (US), Neo4j, Inc. (US), GraphBase (Australia), Cambridge Semantics (US), TigerGraph, Inc. (US), Objectivity Inc. (US), Bitnine Co, Ltd. (US), Franz Inc. (US), Redis Labs (US), Graph Story (US), Dgraph Labs (US), Eccenca (Germany), and Fluree (US).

The services segment to hold higher CAGR during the forecast period

Based on components, the graph database market is segmented into solutions and services. The services segment has been further divided into professional and managed services. These services play a vital role in the functioning of graph database solutions, as well as ensure faster and smoother implementation that maximizes the value of the enterprise investments. The growing adoption of graph database solutions is expected to boost the adoption of professional and managed services. Professional service providers have deep knowledge related to the products and enable customers to focus on the core business, while MSPs help customers Boost business operations and cut expenses.

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As per AWS, graph databases are purpose-built to store and navigate relationships. Relationships are first-class citizens in graph databases, and most of the value of graph databases is derived from these relationships. Graph databases use nodes to store data entities and edges to store relationships between entities. An edge always has a start node, end node, type, and direction, and an edge can describe parent-child relationships, actions, ownership, and the like. There is no limit to the number and kind of relationships a node can have.

Some of the key players operating in the graph database market includegh Oracle Corporation (US), IBM Corporation (US), Amazon Web Services, Inc. (US), DataStax (US), Ontotext (Bulgaria), Stardog Union (US), Hewlett Packard Enterprise (US), ArangoDB (US), Blazegraph (US), Microsoft Corporation (US), SAP SE (Germany), Teradata Corporation (US), Openlink Software (US), MarkLogic Corporation (US), TIBCO Software, Inc. (US), Neo4j, Inc. (US), GraphBase (Australia), Cambridge Semantics (US), TigerGraph, Inc. (US), Objectivity Inc. (US), Bitnine Co, Ltd. (US), Franz Inc. (US), Redis Labs (US), Graph Story (US), Dgraph Labs (US), Eccenca (Germany), and Fluree (US). These graph database vendors have adopted various organic and inorganic strategies to sustain their positions and increase their market shares in the global graph database market.

Oracle was incorporated in 1977 and is headquartered in California, US. The company is a global leader in delivering a broad spectrum of products, solutions, and services designed to meet the requirements of corporate IT environments, such as platforms, applications, and infrastructure. Oracle’s customers include businesses of various sizes, government agencies, educational institutions, and resellers. The company, directly and indirectly, sells its products and services through a worldwide sales force and Oracle Partner Network, respectively. It specializes in developing, manufacturing, and marketing hardware systems, databases, middleware software, and application software. It provides SaaS offerings that are designed to incorporate emerging technologies, such as IoT, AI, ML, and blockchain. It operates through three business segments: cloud and license, hardware, and services, in more than 175 countries and caters to 4,30,000 customers across banking, telecommunications, engineering and construction, financial services, healthcare, insurance, public sector, retail, and utilities verticals. Graph databases that are part of Oracles convergent database offering eliminate the requirement to set up and move data to a separate database. Analysts and developers can detect fraud in banking, discover relationships and links to data, and increase traceability in smart manufacturing, all while benefiting from enterprise-grade security, ease of data intake, and robust support for data workloads. Oracle offers Oracle Spatial and Graph in the graph database market.

IBM is a multinational technology and consulting corporation founded in the year 1911 and is headquartered in New York, US. It offers infrastructure, hosting, and consulting services and operates through five major business segments: cloud and cognitive software, global business services, global technology services, systems, and global financing. IBM’s product portfolio comprises various segments, such as IoT, analytics, security, mobile, social, and Watson. It caters to various industry verticals that include aerospace and defense, education, healthcare, oil and gas, automotive, electronics, insurance, retail and consumer products, banking and finance, energy and utilities, life sciences, telecommunications, media and entertainment, chemicals, government, manufacturing, travel and transportation, construction, and metals and mining. The company has a robust presence in the Americas, Europe, the MEA, and Asia Pacific and clients in more than 175 countries. IBM is one of the top vendors in the graph database market, owing to the strong portfolio of solutions and services that the company offers in the market. On November 27, 2017, the company announced the retirement of the IBM Graph service. This service was being replaced by Compose for JanusGraph. The graph database technology at the core of IBM Graph, Titan, evolved to JanusGraph, governed by the Linux Foundation.

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Killexams : Data Fabric Industry 2026 | Growth Drivers And Future Outlook | IBM, Netapp, Oracle, Denodo Technologies

(MENAFN- EIN Presswire)

Data Fabric Industry

The data fabric market report focuses on the growth prospects, restraints, and market analysis.

PORTLAND , PORTLAND, OR, UNITED STATE, July 20, 2022 /EINPresswire.com / -- Rise in volume & variety of business data, increase in need for business agility & data accessibility, and growing demand for real-time streaming analytics drive the growth of the global data fabric industry .

On the other hand, lack of awareness associated to data fabric impedes the growth to some extent. Nevertheless, significant data growth in developing regions is expected to create a number of opportunities for the key players in the industry.

According to the report published by Allied Market Research, the global data fabric market was pegged at $812.6 million in 2018 and is estimated to hit $4.54 billion by 2026, registering a CAGR of 23.8% from 2019 to 2026. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.

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Based on type, the disk-based data fabric segment held the major share in 2018, generating three-fifths of the global data fabric market. Growing demand for data fabric solutions among data centers and storage enterprises owing to its ability to integrate and operate in unified environment is expected to drive the growth of the segment in the global market. The in-memory data fabric segment, on the other hand, would showcase the fastest CAGR of 26.1% throughout the estimated period. This is attributed to its ability to perform parallel computing.

Based on deployment, the on-premise segment contributed to nearly two-thirds of the global data fabric market share in 2018, and is expected to retain its dominance by 2026. High number of data centers boosts the growth of the segment. At the same time, the cloud segment would cite the fastest CAGR of 26.9% during 2019–2026. Rise in adoption of cloud deployments especially in developing countries fuels the growth of the segment.

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Based on geography, North America contributed to more than two-fifths of the global data fabric market revenue in 2018, and is anticipated to maintain the lion's share by 2016. North American countries are expected to adopt data fabric solutions at a high rate due to its compatible infrastructure. Simultaneously, the region across Asia-Pacific would register the fastest CAGR of 26.0% during the study period. This is due to due to the presence of high penetration connected devices in the region.

Impact of Covid-19 on Data Fabric Market:

•With adoption of“work-from-home” approach by organizations operating in the IT and other sectors during the lockdown, the demand for data fabric has been increased significantly.

•Many organizations have undergone digital transformation to ensure business continuity and avail data accessibility from anywhere. This augmented the implementation of data fabric technology.

• The healthcare sector has adopted this technology in a rapid pace to carry out remote monitoring and consultation of patients suffering various conditions as hospital and clinic visits have been restricted to extreme cases only.

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The leading market players analyzed in the global data fabric market report include Talend, Global IDs., Hewlett Packard Enterprise Company, Splunk Inc., Denodo Technologies, IBM Corporation, Oracle Corporation, NetApp, SAP SE, and Software AG. These market players have adopted different strategies including partnership, expansion, collaboration, joint ventures, and others to reinforce their status in the industry.

Key Benefits for Data Fabric Market:

•This study includes the market analysis, trends, and future estimations to determine the imminent investment pockets.

•The report presents information related to key drivers, restraints, and opportunities of the market.

•The data fabric market forecast is quantitatively analyzed from 2018 to 2026 to highlight the financial competency of the industry.

•Porter's five forces analysis illustrates the potency of the buyers & suppliers in the data fabric market.

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If you have any special requirements, please let us know and we will offer you the report as per your requirements.

Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

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1. Data Catalog Market

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Killexams : Master Data Management Market Worth $34.5 Billion By 2027 – Exclusive Report by MarketsandMarkets™

MarketsandMarkets Research Pvt. Ltd.

Chicago, July 22, 2022 (GLOBE NEWSWIRE) -- Master Data Management Market size to grow from USD 16.7 billion in 2022 to USD 34.5 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 15.7% during the forecast period according to a new report by MarketsandMarkets™. Various factors such as incorporation of new technologies with master data management and increasing adoption of data quality tools for data management are expected to drive the adoption of MDM solutions and services.

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Browse in-depth TOC on "Master Data Management Market
368 – Tables
40 – Figures
292 – Pages

Scope of the Report

Report Metrics

Details

Market size available for years

2016–2027

Base year considered

2022

Forecast period

2022–2027

Forecast units

USD Million

Market Value in 2022

USD 16.7 billion

Forecast Value in 2027

USD 34.5 billion

Segments covered

Component, Deployment Type, Organization Size, Industry Vertical, and Region.

Regions covered

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

Companies covered

IBM (US), Oracle (US), SAP (Germany), SAS (US), TIBCO Software (US), Informatica (US), Talend (US), Cloudera (US), Riversand (US), Syn Force (US), Stibo Systems (Denmark), Profisee Group (US), Reltio (US), Semarchy (US), Broadcom (US), Ataccama (Canada), AWS (US), Teradata (US), Mindtree (US), Magnitude Software (US), Contentserv (Switzerland ), Veeva (US), Qlik (US), HPE (US), GoldenSource (US), Salesforce (US), Micro Focus (UK), Zaloni (US), Winshuttle (US), and Actian (Indonesia)

Master Data Management (MDM) is a comprehensive method that defines and manages an organization’s massive amount of data. It represents a single, reliable view of data across enterprises. It also provides agile self-service access, analytical graph-based exploration, data governance, and an easy-to-use dashboard. Moreover, MDM offers a 360-degree view of data enabling users deliver better business insights through self-service analytics.

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By component, the MDM market has been segmented into solutions and services. The CAGR of the service component is estimated to be the largest during the forecast period. The services provided can be further bifurcated into professional and managed services. These services help identify the type of integration required by organizations to meet their demands. Companies offering MDM services deploy consultants, solution experts, and dedicated project management teams, which specialize in the design and delivery of critical decision-support software, tools, and services.

The MDM market has been segmented by deployment type into cloud and on-premises. The on-premises segment is expected to register a larger marker size during the forecast period. The on-premises deployment of MDM offers enterprises with total control of the security of enterprise-sensitive data such as customer details, product data, enterprise asset details, and supplier data. This data is secured, as it exists on dedicated servers that are separated both, physically and virtually from any other business data of the enterprise.

The MDM market by organization size has been categorized into SME’s and large enterprise. The SME’s is expected to have the highest growth rate, as these solutions help Boost their operational efficiency, streamline their operations, and enhance the existing customer experience. With technological advancements, various software solutions can be offered as per the demands of customers. This enables SMEs to pay only for what they require. Currently, companies need to come up with real-time data analytics for better results and instant remedial actions.

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The MDM market has been segmented into five major regions: North America, Europe, APAC, Latin America, and MEA. APAC is expected to hold the highest CAGR during the forecast period. Some large multinational players are showing interests to open new offices in the region, and a lot of new entrepreneur setups are taking place, who are adopting the newer technologies to have a competitive advantage over the established players. China, Japan, Singapore, and India have shown ample growth opportunities by adopting MDM solutions and services in the market.

Key Market Players

Some major players in the Master Data Management Market include IBM (US), Oracle (US), SAP (Germany), SAS (US), TIBCO Software (US), Informatica (US), Talend (US), Cloudera (US), Riversand (US), SyncForce (US), and Stibo Systems (Denmark).

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CONTACT: 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 Mehra MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA: +1-888-600-6441 Email: sales@marketsandmarkets.com
Fri, 22 Jul 2022 03:00:00 -0500 en-NZ text/html https://nz.news.yahoo.com/master-data-management-market-worth-150000890.html Killexams : Field Service Management Market worth $5.7 billion by 2026 - Exclusive Report by MarketsandMarkets™

MarketsandMarkets Research Pvt. Ltd.

Chicago, Aug. 01, 2022 (GLOBE NEWSWIRE) -- Field Service Management Market size is expected to grow from USD 3.2 billion in 2021 to USD 5.7 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 11.9% during the forecast period, according to a new report by MarketsandMarkets™. FSM solutions and services are rapidly gaining acceptance globally by large enterprises as well as mid-sized enterprises and small enterprises due to various benefits, growing adoption of automation and digitalization and the increase in adoption of BYOD and mobile-based FSM solution. The presence of many FSM providers has made the market competitive. Many emerging players providing niche and differentiated offerings for target customers have come to the forefront.

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Browse in-depth TOC on "Field Service Management Market
287 - Tables
60 - Figures
289 - Pages

Scope of the Report

Report Metrics

Details

Market size available for years

2016-2026

Base year considered

2020

Forecast period

2021-2026

Projected Market Value in 2026

USD 5.7 billion

Highest CAGR Region

APAC

Forecast units

Value (USD Million)

Segments covered

Component (Solution and Services), Deployment Mode, Organization Size, Verticals, and Regions

Regions covered

North America, Europe, APAC, MEA, and Latin America

Companies covered

Oracle (US), Microsoft (US), Salesforce (US), IFS (Sweden), ServiceMax (US), SAP (Germany), Infor (US), Trimble (US), Comarch (Poland), ServicePower (US), OverIT (Italy), FieldAware (US), Geoconcept (France), Zinier (US), Accruent (US)

The schedule, dispatch, and route optimization solution is gaining popularity in the field service landscape and is expected to account for the largest market size during the forecast period. It is used to collaboratively manage the workforce and enhance dispatch operations. The solution facilitates clients to maximize their output by allocating jobs to field representatives. It allocates jobs to field representatives based on their skills and current location to deliver services in minimum time. Dispatching is the process where the user sends out an employee (an engineer, specialist, or technician) to fix a problem or provide a solution. The process of dispatching is critical for customer satisfaction. The route optimization feature helps in finding the best possible route between two locations.

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The Integration and implementation services are likely to share large revenues in the estimated year, as they enable clients to appropriately deploy and integrate field service management solutions with their existing systems, such as ERP and CRM. These services are provided by trained and technically expert professionals who can ensure the accurate deployment of field service management solutions. The market for field service management solutions is expected to grow because these solutions deliver field services in lesser time and cost.

The on-premise deployment field service accounts for a larger market share in the field service management market, by deployment type, owing to the security and flexibility provided by them while retrieving data, as field service enterprises deal with sensitive and confidential data about customers and companies. These enterprises use on-premise field service management solutions to have total control over information security about the customer and company. On-premise solutions are installed and hosted in an organization’s IT infrastructure and are managed by its internal IT staff.

The adoption of field service management solutions is higher in large enterprises, and the trend is expected to continue during the forecast period. Field service management solutions are important for large enterprises, as they have a large workforce, large volumes of documentation, and have to maintain extensive customer records. Large enterprises face challenges in assigning work orders to field technicians and engineers. If work orders are not managed efficiently by large enterprises, they can lead to increased costs and lesser productivity. This can also lead to a loss of customer loyalty and market share. Large enterprises are focusing on adopting field service management solutions to centrally manage their business processes and critical data of their workforce and customers.

The field service management for manufacturing organizations is a booming business and holds the largest market share during the forecast period. To help minimize machine downtime, manufacturing organizations are now looking to Industry 4.0 technologies that provide advancements, such as intelligent predictive maintenance and IoT, to detect anomalies in machines and send out real-time alert notifications. A field service management (FSM) solution uses the predictive maintenance or IoT triggers to generate work activities; and, in real-time, find the best-suited field technician to be on-site to perform the work activity. This is done via built-in intelligent scheduling, dispatching, and optimized algorithms. FSM solutions should provide the field service technician with all the information and guidance necessary to execute the task most efficiently. With the help of FSM solutions, manufacturers are capable of augmenting their business efficiency and consumer relationships.

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APAC is projected to witness the fastest growth rate in the coming years. APAC has witnessed the advanced and dynamic adoption of new technologies and is projected to record the highest CAGR during the forecast period. In addition, IT spending across organizations in the region is gradually increasing, which is projected to lead to a surge in the adoption of FSM solutions. China, India, and Japan are the leading countries in terms of the adoption of FSM solutions and services in the region. Asia Pacific is expected to dominate the regional field service management market; its rapid growth rate is due to the region being home to many SMEs, which are highly involved in the development and adoption of field services and their management solutions. China is one of the largest E-Commerce markets in the world. The expansion in the sector is a significant driver for the adoption of FSM solutions. And as new retail is shifting more and more from a novel concept to the mass market sector, the need for the management of field service is expected to grow.

The Field Service Management Market is dominated by companies such as Oracle (US), Microsoft (US), Salesforce (US), IFS (Sweden), ServiceMax (US), SAP (Germany), Infor (US), Trimble (US), Comarch (Poland), ServicePower (US), OverIT (Italy), FieldAware (US), Geoconcept (France), Zinier (US), Accruent (US). These vendors have a large customer base and strong geographic footprint along with organized distribution channels, which helps them to increase revenues.

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