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Global $83.7 Bn Cloud Computing Management and Optimization Market to 2030 with IT and Telecommunications … – PR Newswire

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DUBLIN, Jan. 23, 2024 /PRNewswire/ -- The"Global Cloud Computing Management and Optimization Market 2023 - 2030 by Types, Applications - Partner & Customer Ecosystem Competitive Index & Regional Footprints" report has been added to ResearchAndMarkets.com's offering.

The Cloud Computing Management and Optimization Market size is estimated to grow from USD 17.6 Billion in 2022 to reach USD 83.7 Billion by 2030, growing at a CAGR of 21.7% during the forecast period from 2023 to 2030.

The Adoption of Cloud Based Solution Is Drive the Cloud Computing Management and Optimization Market Growth

As businesses migrate their operations to cloud-based ecosystems, as it offers a number of benefits, such as scalability, flexibility, and cost savings. A growing number of companies are adopting cloud computing includingSMEs and Large scale companies, which will lead to an increase in demand for cloud computing management and optimisation solutions.

Cloud computing environments are becoming increasingly complex, as businesses adopt a variety of cloud services from different providers. This complexity can make it difficult for businesses to manage their cloud costs and performance. Cloud computing management and optimization solutions can help businesses to simplify their cloud environments and optimize their costs and performance. Cloud computing can be a cost-effective way for businesses to IT resources.

However, businesses can still incur significant costs if they do not manage their cloud usage effectively. Cloud computing management and optimization solutions can help businesses to track their cloud usage and identify opportunities to optimize their costs. The cloud computing industry is constantly evolving, with the emergence of new technologies, such as artificial intelligence and machine learning. These new technologies can be used to improve the efficiency and effectiveness of cloud computing management and optimization solutions.

The IT and Telecommunications industries hold the highest market share in the Cloud Computing Management and Optimization Market

The IT and Telecommunications industries hold the highest market share in the Cloud Computing Management and Optimization Market in 2022, due to their intrinsic reliance on advanced technology solutions and their pivotal role in driving digital transformation across various sectors. In the IT industry, cloud computing has become a cornerstone for delivering software, platforms, and infrastructure services, enabling organizations to enhance agility, scalability, and operational efficiency.

As IT companies transition their operations to the cloud, the need for effective management and optimization of cloud resources becomes paramount to ensure optimal performance, cost control, and resource allocation. Cloud management and optimization solutions enable IT enterprises to streamline provisioning, monitor workloads, automate processes, and maintain stringent security protocols.

Furthermore, the Telecommunications sector has embraced cloud computing to modernize and expand its network infrastructure, offer innovative communication services, and adapt to the demands of an interconnected world. Cloud-based solutions empower telecom companies to efficiently manage network resources, deliver seamless customer experiences, and explore new revenue streams.

In this context, cloud computing management and optimization are essential for maintaining network reliability, ensuring data privacy, and dynamically scaling resources to meet fluctuating demand. The complex and dynamic nature of both IT and Telecommunications operations necessitates sophisticated tools and strategies for cloud resource management, making these industries prime contributors to the Cloud Computing Management and Optimization Market

Regional Insight: North America dominated the Cloud Computing Management and Optimization Market during the forecast period.

North America dominated the Cloud Computing Management and Optimization Market during the forecast period. Cloud computing has been continuously adopted by the United States and Canada, which are at the forefront of technological development, which helps strengthen North America's remarkable position as market leader. The strong presence of major companies like Adobe, Salesforce, Oracle,AWS, Google, and IBM inside the region's wide geography provides a foundation for this rise. With their cutting-edge solutions, these major players make a significant impact on adoption and innovation.

The region's commitment to technical advancement also serves as another indication of its dominance. Continuous improvements in a number of technologies are transforming the cloud computing industry, and North America is recognized as a hub for important developments.

As a result, organizations and enterprises in North America are pushed to the forefront of cloud optimization and administration, utilizing the full range of technologies and expertise provided by both local and international industry experts. Strong vendor presence, widespread acceptance, and constant technological innovation place North America in the lead for snatching the highest market share during the forecast period.

Major Classifications are as follows:

Cloud Computing Management and Optimization Market, Type of Solutions

Cloud Computing Management and Optimization Market, By Deployment Models

Cloud Computing Management and Optimization Market, By Organization Size

Cloud Computing Management and Optimization Market, By Cloud Service Models

Cloud Computing Management and Optimization Market, By Technologies

Cloud Computing Management and Optimization Market, By Industries

Cloud Computing Management and Optimization Market, By Geography

Companies Mentioned

For more information about this report visit https://www.researchandmarkets.com/r/bx3846

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Global $83.7 Bn Cloud Computing Management and Optimization Market to 2030 with IT and Telecommunications ... - PR Newswire

Tech Giants Refuse U.S. Consumer Security to Oversee Digital Wallets – The Tech Report

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The Computer & Communications Industry Association (CCIA), a lobby group representing major tech companies such as Apple, Google, Amazon, Meta, and X, expressed concerns about a proposed plan by the U.S. Consumer Financial Protection Bureau (CFPB).

The CFPBs proposal seeks equal oversight of digital wallet and payment app providers, including tech giants, to ensure consumer protections similar to traditional payment methods.

The CCIAs head of regulatory policy, Krisztian Katona, cautioned against the potential negative impact of the proposal, suggesting that overly broad or burdensome digital regulations could impede innovation and harm new startups in the industry.

The lobby group emphasized that extensive supervision like the one imposed on banks might not be the most effective approach.

In the comment letter addressed to the CFPB, the CCIA pointed out a perceived flaw in the proposal, stating that it failed to identify the specific consumer risks it intended to address.

The letter argued against viewing non-bank digital providers and banks as direct competitors, emphasizing the markets reality, where their collaborations often benefit consumers through complementary services.

The Financial Technology Association, representing members such as PayPal and Block Inc., echoed similar concerns in a separate comment letter released on the same day. They argued that existing regulations were adequate, urging the CFPB to suspend the rulemaking process.

The association, which includes companies like Venmo and Cash App, also believed that unnecessary regulations could stifle innovation and hinder the industrys growth.

The adoption of digital payment systems has continued to increase, given the advantage they offer users over traditional methods.

Notably, digital payments offer high convenience and security, adding to their user-friendly features and benefitting businesses and consumers.

Due to this support, there is a projected 26.93% compound growth in their adoption between 2021 and 2025.

This rise gives birth to a significant trend in the competitive industry, resulting in a consolidation period where large tech companies surpass regional and community banks in terms of trust associated with digital payments.

The IMF acknowledges the significance of digital payments in reshaping the industry and encourages more collaborations and competition between big tech companies and regular financial institutions.

Besides that, digital wallets have proven helpful in streamlining payment processes and bringing existing systems together, whether online portals for internet-based operations or contactless terminals for face-to-face transactions.

This ease of integration enhances accessibility and convenience for customers and businesses, contributing significantly to the widespread adoption of digital wallets.

In addition to these benefits, the cost-effectiveness of digital wallets compared to traditional payment methods makes them an attractive option for businesses aiming to reduce transaction costs.

This affordability further incentivizes their adoption across various industries, positioning digital wallets as indispensable tools for most tech organizations.

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Tech Giants Refuse U.S. Consumer Security to Oversee Digital Wallets - The Tech Report

Bid to cut through post-Brexit red tape tying up UK trade with Flanders – theloadstar.com

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Charlieaja

Research for Flemish firms has found that 74% of UK companies said they had been forced to consider other markets, due to post-Brexit administration struggles.

But GatewayBritain has promised to make trade between Flanders and Britain as frictionless as possible.

GatewayBritain, described as an innovative digital application that will bring visibility and transparency for trading with Flanders into one place, derives from a partnership between Port of Antwerp-Bruges, Flanders Innovation & Entrepreneurship (VLAIO), Flanders Investment and Trade and Deloitte.

The initiative was announced in June and will allow traders to fill out just one dataset online, which is then automatically shared with all the relevant supply chain and logistics partners.

Earlier this month, the pilot product of the application was launched. Functionalities include shipment and transport management, data authorisation management, document management, communication management and notification management.

Dirk Verlee, trade and investment counsellor at Flanders Investment and Trade, said: Flanders is a key route in and out of the EU for British traders. This means that if GatewayBritain solves the challenges of Brexit in the Belgian region, supply issues that have affected the UK should also be solved.

Flanders is a popular route into the EU for UK companies, due to its proximity to both the UK and Europes major business centres. A market of 400 million consumers, or 60% of Europes purchasing power, is within six hours of the region.

Trade figures for 2022 revealed that the total value of exports from the UK to Flanders was 33.77bn ($37bn), and imports into the UK from Flanders totalled 27.95bn ($30.7bn). The UK is Flanders fourth-highest export market.

However, research conducted in May by Censuswide of more than 1,000 UK traders found that some 74% of UK companies said they had been forced to consider alternative markets, due to difficulties in trading with the EU post-Brexit. And 42% had seen trade with the EU decrease, while 48% of the respondents said they would trade more if the process was simplified.

Minister and president of the government of Flanders Jan Jambon said: Britain is an important trading partner for Flanders. We know from our research that British companies have been looking at alternative markets due to the bureaucracy involved post-Brexit. GatewayBritain signals the end of that bureaucracy.

After the pilot shipments, stakeholders will be invited to share their feedback.

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Bid to cut through post-Brexit red tape tying up UK trade with Flanders - theloadstar.com

SEC Chair Warns AI "Herding" Could Drive Markets "Off an Inadvertent Cliff"

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Gary Gensler, chairman of the SEC, fears that the reliance on a small number of AI models could lead to the entire finance sector to it doom.

Hive Mind

Last month, chairman of the U.S. Securities and Exchange Commission (SEC) Gary Gensler warned that it's "nearly unavoidable" that AI will lead to financial economic crisis.

Now, at an event with The Messenger, Gensler has reiterated those fears, saying AI's growing role in the financial sector could create a "herding effect" that could drive entire markets "off an inadvertent cliff."

He reasons that because AI is costly to develop, most firms are likely to depend on a handful of existing models, fostering a "monoculture." Whatever decisions those models make could end up informing huge parts of the financial world — potentially leading the entire economy down the same doomed path.

"A smaller asset manager can't build the big models. You got to rely on someone else's models," Gensler said at The Messenger's AI Summit on Tuesday, as quoted by Business Insider.

"There are natural economics that will lead to monocultures, that there'll be base data sets or base models, and large parts of the financial sector will be relying on it... trading on it, underwriting on it," he added.

Large Lemming Models

AI tools are useful for traders and investors because they can process huge amounts of data in real time, picking up on trends and patterns that may go overlooked by the human eye. In fact, Gensler said that even the SEC uses AI in its "examination and enforcement and economic work."

To banks, the technology is especially handy at fraud detection, and has already been used for years to process credit card applications and weed out suspicious transactions.

Some of the biggest banks, though, are trying to take things a step further and capitalize on the endless hype around large language models. For example, JPMorgan and Morgan Stanley are developing their own ChatGPT-like AI chatbots that can advise investors — which, if they take off, sounds like they could lead to the exact "monocultures" that Gensler's worried about.

As far as SEC policy goes, the regulator has proposed a new rule that would require financial firms to address conflicts of interest regarding their use of "predictive data analytics and similar technologies."

What the SEC plans to do next is unclear, however. When asked if the agency was launching further AI-focused initiatives, Gensler did not specify if there were any such policies in the works.

More on AI: Silicon Valley Guys Casually Calculating Probability Their AI Will Destroy Humankind

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SEC Chair Warns AI "Herding" Could Drive Markets "Off an Inadvertent Cliff"