Virtual Reality in Therapy Market Business Revenue, Future Scope, Market Trends, Key Players And Forecast To 2023

 Global Virtual Reality in Therapy Market, By Device (Head mount, Gesture Control), By Technology (Non-Immersive, Fully Immersive), By Application (Phobia Treatment, Robotic Surgery) - Forecast 2023

Brief Industry Insights

Virtual reality in therapy market is poised for tremendous growth over the forecast period of 2017-2023. The immense expansion of this market can be attributed to the growth of artificial intelligence and its arrival into the healthcare sector.

Virtual reality is basically a computer-generated virtual environment that provides real-life sensory experiences to the recipient. This technology has the capability to construct a three dimensional, visual and intriguing environment. In such a form of an alternate reality a person can control the virtual elements and also carry a number of tasks. The environment created can either be real or imitated depending on the situation and purpose.

Currently, the global healthcare industry is in a phase of technological reformation. Owing to this, it can be confidently affirmed that the global market for virtual reality in therapy will grow by leaps and bounds through the next seven years. The market is expected to generate a revenue of around USD 3.9 Billion by the end of the forecast period. The estimated CAGR for this time span will be 32%.

One of the major factors that drive the growth of the market happens to be advantages of virtual therapy in comparison to conventional therapies. When a patient undergoes this form of treatment the need for drugs or invasive surgeries is eliminated. Thus, saving a whole lot of time and money.

Many hardware vendors and medical device providers have embarked upon joint ventures with an aim to devise a new product or service. This is another aspect that positively impacts the growth of the market.

Additional growth propellers like technological advancements, government support, increased demand for improved technological solutions, higher adoption of handheld medical instruments and the need for better means of education for the medical students further foster the growth of the market.

Although, the market may face certain restraints like stringent rules & policies and price related issues. However, experts believe that as the market progresses it will cope with such minor issues.

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Segmental Analysis

The worldwide virtual reality in therapy market has been trifurcated. The three segments and sub-segments respectively are listed below.

Applications: Robotic Surgery, phobia treatment, surgery simulation, treatment of post-traumatic stress disorder, treatment of autism, robotic surgery, rehabilitation and visualization.

Technologies: Semi-immersive VR, full-immersive and non-immersive VR.

Devices: Gesture control, projectors and head mount.

Comprehensive Regional Analysis

The virtual reality in therapy market has been successful in expanding across the globe. The main regions where it prevails are Europe, North America, Asia Pacific and Rest of the World.

Region-wise North America holds the largest market share and the primary reason for this is the business being brought in by countries like Canada and U.S. This area experiences a massive demand for high-end technological solutions, higher number of research & development activities and greater acceptance of virtual reality in the healthcare industry. Asia Pacific is estimated to expand tremendously during the projection period as it has a huge number of investors and manufacturers.

Industry News

February, 2018 – Recently a clinical trial was held in which 116 patients participated in the Netherlands. The outcome of the experiment was that virtual-reality-based therapy along with standard treatment was able to reduce paranoia and anxiety in people who were suffering from psychotic disorders. This news has confirmed the effectiveness of virtual reality in therapy and given the market a boost.

Market Players & Key Strategies

Some of the most renowned and longstanding players of this market can be listed as Virtual Realities, Siemens Healthcare, Samsung Group, Brainlab and Mimic Technologies.

The global market for virtual reality in therapy is intensely competitive. To make their mark, market players have to employ a number of development tactics. Some of the major strategies used by them are strategic partnerships and mergers with other companies.

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Cognitive Cloud Market Outlook and Future Scope Analysis Forecast To 2023

 Cognitive Cloud Market, By Technology (NLP, Machine Learning, Automated Reasoning), By Service (Managed, Professional), By End User (SMEs, Large Enterprises) and By Vertical - Forecast 2023

Industry Insight

Market Research Future provides a short-term assessment of the impact of COVID-19 on the global cognitive cloud market 2020. It offers a clear assessment of the projected market fluctuations during the forecast period (2017–2023) with USD 3.42 Billion in valuation. Various factors are likely to impact the overall dynamics of the cognitive cloud market with a high 16% CAGR in the same forecasted period.

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Top Grossing Factors

While the cloud technology was witnessed as a superior technology to adopt until some time ago, it has now become a must to navigate through the challenging time of Coronavirus Disease Outbreak. In this daunting time where businesses are struggling to keep up with their infrastructure needs, the global cognitive cloud market is anticipated to achieve a milestone of high percent uptime of a stable growth graph.

While COVID-19 has had a noteworthy impact on the worldwide cognitive cloud market, organizations realize that cloud services are necessarily a good fit for unprecedented uncertainties ensuring business continuity amidst physical lockdowns. As many businesses are challenged, yet cognitive cloud providers are creating a balance by offering customers with increased flexibility versus offering opportunistic solutions. These factors are assessed to be beneficial for the market of the cognitive cloud to expand in the forecast period.

As the global cognitive cloud market encompasses technologies such as machine learning, natural language processing, information retrieval, and automated reasoning for translating unstructured data to sense, these are creating meticulous opportunities for new players to invest in and take the market’s valuation to the next level.

At the same time, globally, several companies are rapidly adopting cognitive cloud technologies to gain a competitive edge in the market. The giant players in the cognitive cloud market such as IBM, Microsoft, Google, SAS, TCS, AWS, Virtusa, and Cisco are investing high in the market. These companies are incessantly innovating their products and services to overcome large and complex data challenges as compared to other database solutions.

Furthermore, the rise in concern among all the major business organizations to study the extensive volume of data to assess the risk associated with any strategic initiative is further instrumental in accelerating the cognitive cloud market growth. The necessity for industries, such as retail, healthcare, and financial institutions, to study large volumes of data optimally on a real-time basis, is apparent to bang the industry favorably.

Segmentation of Market

The cognitive cloud market has further been assessed over segmental analysis, which is done over technology, service, end-user, and vertical segments.

The vertical segment has been bifurcated into healthcare, BFSI, education & retail, consumer electronics & retail, travel & tourism, IT & telecommunication, oil & gas, and aerospace & defense. Out of which, retail and healthcare verticals have possibilities to grow at a significant rate during the forecast period. In healthcare, the cognitive cloud assists with assembling the available information and integrating that data with patient information, which, in turn, helps in presenting more personalized services. The cognitive cloud also helps in making healthcare services cost-efficient.

The technology segment has included machine learning, natural language processing, automated reasoning, and others.

The service segment has included managed service and professional service.

The end-user segment has included SMEs and large enterprises.

Regional Outlook

The regional analysis of the cognitive cloud market is being studied for regions—North America, Europe, Asia Pacific, and the Rest of the World.

MRFR, in its study, has revealed that the North American region is estimated to account for the largest share of the market. The foremost growth in the North American cognitive cloud market is attributed to technical advancements and growing need for real time analysis of massive and diversified. In North America, cognitive cloud technology is being extensively implemented across the healthcare sector. U.S. hospitals are working with Watson to aid the proper treatment of cancer patients as well as to help doctors.

Asia-Pacific region is projected to grow at the fastest rate during the forecast period.  Asia Pacific region is expected to expand at the highest CAGR during the forecast period. Increasing investments by the technology companies in foremost countries, such as China, Japan, and India, rising digitalization, Machine Learning (ML), mounting adoption of advanced Artificial Intelligence (AI),  and government regulations and initiatives are expected to compel the growth of the market in the APAC region.

Top Market Players

The top players in the cognitive cloud market are listed as IBM Corporation (U.S.), Google, Inc. (U.S.), Spark Cognition, Inc. (U.S.), Microsoft Corporation (U.S.), Enterra Solutions LLC (U.S.), CognitiveScale (U.S.), Vicarious (U.S.), Numenta (U.S.), ColdLight Solutions (U.S.) and others.

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Sentiment Analytics Market Growth, Size, Segments and Future Forecast To 2023

 

Sentiment Analytics Market, By Components (Software, Services, By Deployment (Cloud, On-Premise), By Organization Size (SMEs, Large Enterprises), By Vertical (Retail, BFSI, Healthcare & Life Science) - Forecast 2023

Overview

Sentiment analytics determines the emotional tone behind a series of words and analyses human emotions, sentiments with the help of consumer data (primarily social media feeds), deep learning capabilities and natural language processing (NLP). The global sentiment analytics market is anticipated to grow at a CAGR of 14% and reach a valuation of USD 6 Bn over the forecast period of 2017-2023, asserts Market Research Future (MRFR) in a detailed research report.

Growing popularity of social media platforms is one of the preliminary factors spurring the growth of the global sentiment analytics market. Advances made in the field of artificial intelligence (AI) which allows contemplation of human behavior and emotions also drives the market for sentiment analytics.

Sentiment analytics is gaining traction among various industry verticals such as healthcare, FMCG, telecom, retail, media & entertainment, and others. These industries are increasingly using sentiment analytics for opinion mining of consumers to extract personal content about the consumers. Sentiment analytics allows a deep understanding of consumer’s needs, expectations and extending customer base which can aid businesses to plan their business strategies accordingly.

The emergence of big data is a crucial factor in boosting the growth of the global sentiment analytics market. Availability of colossal amounts of data allows enterprises to leverage it to get actionable insights. Growing adoption of cloud computing is also a major factor driving the growth of the global sentiment analytics market.

Other drivers include seamless integration and up gradation, and cost saving on infrastructure. On the other hand, high costs associated with sentiment analytics hinders adoptions, especially from government institutions which limit the growth of the global sentiment analytics market.

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Segmentation

The global sentiment analytics market has been segmented based on component, deployment, organization size, and vertical.

By component, the global sentiment analytics market has been segmented into sentiment and service. The service segment has been further segmented into professional services and support & maintenance services.

By deployment, the global sentiment analytics market has been segmented into cloud and on-premise.

By organization size, the global sentiment analytics market has been segmented into small & medium enterprises and large enterprises.

By vertical, the global sentiment analytics market has been segmented into retail, BFSI, healthcare & life sciences, Education, media & entertainment, transportation & logistics, and others.

Regional Analytics

The Americas, Europe, Asia Pacific (APAC), and the Rest of the World (RoW) are the key markets for sentiment analytics. The Americas account for the maximum share of the global sentiment analytics market on account of the concentration of major players in the region and high adoption rate of the technology by small and large enterprises. The US and Canada are the key contributors to the Americas market.

APAC is slated to emerge as the fastest growing market for sentiment analytics. The region is investing substantially on sentiment analytics to improve business outcomes. The presence of a large number of SMEs in the region can also be credited for the growth of the market in APAC.

Competitive Landscape

Adoreboard (U.K.), Twizoo (U.K.), IBM (U.S.), Aylien (Ireland), SAS Institute (U.S.), Angoss Sentiment Corporation (Canada), Bottlenose.Com (U.S.), Clarabridge (U.S.), Brandwatch (U.K.), and Crowdflower (U.S.) are the remarkable players in the global sentiment analytics market.

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Interactive Voice Response Market Business Overview, Challenges, Opportunities, Trends and Market Analysis and Forecast To 2023

 Interactive Voice Response Market, By Solution (Call Routing, Outbound, Self-Service), By Technology (Speech Based, Touch Tone Based, Text to Speech), By Service (Maintenance & Support), By Deployment (Cloud, On-Premise) - Forecast 2023

Market Insights

Interactive Voice Response (IVR) is an automated system employed over the telephone to interact with callers to gather relevant information which then allows the system to direct the call accordingly. The system works by use of keypad response of voice response and is employed by many organizations. Market Research Future's report on the global interactive voice response market sheds light on the various factors and figures of the market while making educated predictions about its future. The interactive voice response market is expected to witness growth at a CAGR of 7% during the forecast period from 2017 to 2023. Increasingly being employed by a variety of business organizations, the global market is expected to reach an estimated value of USD 3.7 Bn by the end of 2023.

Businesses are increasing their customer relationship management activities in an effort to sustain long-term relationships; this is a significant factor which is encouraging the growth of the IVR market. IVR systems are employed in a wide number of industry verticals making them fairly pervasive as they can easily be tailored to suit the organization's needs. IVR assists in ongoing customer relations by keeping up communication with them, and this can also be a good way to collect customer feedback which can ultimately be used to improve relations. The advent of cloud computing has significantly impacted the IVR marker. Interactive voice response can be deployed over the cloud which is highly advantageous as it reduces the need for physical infrastructure. With unique offerings from cloud service providers and lack of infrastructure, IVR systems are easily accessible to companies of all sizes, thus increasing market value. IVR systems are used to facilitate seamless communications with customers as it directs them to the concerned department of an organization, helps provide information, and increases brand awareness. The cost savings and optimization of organizational resources are another significant factors. Increasing number of BPOS and contact centers to handle customer service has driven increased use of IVR systems. Moreover, reduced operational costs, and increased efficiency in customer service are are driving the market.

Some IVR menus can be complex and lengthy which can be cumbersome for customers, thus challenging market growth. However, ongoing implementation of advanced technologies to make IVE systems a smooth and pleasant experience for customers who interact with it is expected to reveal opportunities in the market for further growth down the line.

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Market Segmentation

The global interactive voice response market is segmented on the basis of solution, technology, service, application, deployment, vertical, organization size, and region. Solutions offered in the IVR market include call routing, outbound, and self-service.

Technologies used in IVR include touch-tone based,  text to speech, and speech based. Services offered in the IVR market include training & education, maintenance & support, and installation. Deployment of IVR can be done on- cloud and on-premise. Organization of various sizes uses IVR, including large organizations and small & medium organizations. IVR is employed in industry verticals which in the report include IT & telecommunication, healthcare, education & government, transportation & logistics, consumer goods & retail travel, media & entertainment, and others.

Regional Analysis

North America accounts for the highest share of the market due to the presence of strong network infrastructure and the presence of key players who are present in the developed countries of this region. U.S and Canada are among the developed countries of the region, and IVR is adopted on a large scale in these countries across organizations of all sizes.

 Meanwhile, the Asia Pacific is expected to witness growth at the highest CAGR due to the potential of IVR is the regions rapidly emerging economies. Moreover, international business organizations are increasingly setting up BPOs and other contact centers in the APAC to leverage reduced operational costs and comparatively cheap labor, thus increasing the regions market value over the forecast period. Increasingly, business organizations in emerging markets are also employing IVR which adds to the regions swift growth.

Key Players

Eminent players that have been found to have a significant role in the market have been included in MRFR’s report. Players include Avaya Inc., Convergys Corporation, Genesys Telecommunication Laboratories, Inc., 8X8, Inc., Nuance Communications, Inc., West Corporation, Cisco Systems, Inc., AT&T Inc., IVR Lab, Verizon Communications Inc., and others

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Pharma Knowledge Management Software Market Growth Rate, Future Scope, Analysis, Business Development and CAGR To 2023

 Global Pharma Knowledge Management Software Market, By Software (Android, Windows, iOS), By Deployment Type (On Premises, Cloud, Hybrid), By End-Users (Agricultural Biotechnology, Environmental Biotechnology, Academics, Forensic Biotechnology) - Forecast 2023

Market Overview

Market Research Future (MRFR), in its latest study on the pharma knowledge management software market 2020, reveals causes that are likely to support and restrict the rise of the market. Along with this report, a complete assessment of the performance of the pharma knowledge management software market in COVID 19 pandemic is also provided. As per MRFR findings, the pharma knowledge management software market can rise at 17% CAGR in the evaluation period 2017 to 2023.  The pharma knowledge management software market valuation can surpass USD 2 Bn by the end of the review period.

Pharma knowledge management software aids in the identification, evaluation, capturing, rectification, and sharing medical information with high degree of accuracy. The increasing in the commercial interest of the software in recent years can bolster the expansion of the pharma knowledge management software market across the review period. The rise in need for post Information gathered by pharma knowledge management software play a significant role in drug development processes to gain global foothold, which is expected to promote the expansion of the pharma knowledge management software market through the assessment period. The rise in the count of pharmaceutical companies using pharma knowledge management tools to derive information from social networks that assists in the analysis of different types of drugs, disorders, and ingredients among others is expected to boost the expansion of the market.

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Segmental Analysis

The segmental analysis of the pharma knowledge management software market is done by software, deployment type, and end-user.

The deployment type, the pharma knowledge management software market segments are hybrid, on premises, and cloud. The cloud segment can gain high traction in the review period. The software based, the pharma knowledge management software market segments are Windows, iOS, Android, and others. Increase in iOS and Android applications can promote the market in the years to come. The end-user based segments of the pharma knowledge management software market are forensic biotechnology, animal biotechnology, agricultural biotechnology, medical biotechnology, academics, environmental biotechnology, and others. The introduction of pharma knowledge management software in medical biotechnology can cause the market to rise at a high pace.

Regional Analysis

In North America, the rise of the pharma knowledge management software market can be attributed to the growing usage of advanced technologies, such as; artificial intelligence, machine learning, and IoT. The increase in the deployment of disruptive technologies to enhance capability of pharma knowledge management tool across the assessment period can prompt the expansion of the market in the region. In addition, the existence of top notch tech companies that develop pharma knowledge management software, such as SAP SE (Germany) and eXo Platform (U.S.) can cause the expansion of North America pharma knowledge management software market.

Europe is observed as an attractive destination for marketers for the introduction of innovative solutions. Rise in R&D for health related initiates can support the progress of EU pharma knowledge management software market in the foreseeable future. In the Asia Pacific region, the booming pharma and biotech sectors are expected and increase in the adoption of knowledge management software by these sectors are expected to promote the expansion of the market in India and other areas of APAC across the forecast period.

Competition Dashboard

Lucidea (Canada), eXo Platform (U.S.), SAP SE (Germany), Nuance Communications, Inc. (U.S), Theum AG (Germany), SuiteRx (U.S), Callidus Software Inc. (U.S.), Oracle Inc. (U.S.), Altair Engineering, Inc. (U.S.), and MangoApps Inc. (U.S.) are some noteworthy marketers of the pharma knowledge management software market, enlisted by MRFR.

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Game API Market Research Report Global Trends and Forecast To 2023

 

Game API Market, By Type (Identity Management, Voice/Speech, Maps & Location, Others), By Operating System (Windows, IoS, Android, Others) - Forecast 2023

Market Synopsis

According to Market Research Future (MRFR)’s latest analysis, the global game API market has been projected to expand at a CAGR of 6% during the forecast period 2017 to 2023. The valuation of the market is expected to reach USD 2.2 Bn by the end of 2023. The growth trajectory of the market is dictated by the advancements in the gaming technologies brought by the key players. Personalized user experience is the key area of focus for the key players. Investments are likely to flow towards the innovation of enhanced experience for the gamers. This, in turn, is expected to revolutionize the game API market over the next couple of years.
The major drivers of the game API market growth include the use of microarchitecture design, development of compact and comfortable API gaming software, and the rising demand for novel technologies. These factors are projected top catapult the market on an upward trajectory. Furthermore, the rise in disposable income is likely to boost the demand for advanced gaming technologies. It is forecasted to favor the expansion of the game API market. However, factors such as limitations of hardware and software in virtual reality devices, lack of awareness about technology and compatibility problems are expected to hold the market growth in the forthcoming years.

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Market Segmentation:

This report offers an exhaustive segmental analysis of the game API market based on type and operating system. By type, the global game API market has been segmented into identity management, voice/speech, maps & location, and others.
By operating systems, the game API market has been segmented into windows, iOS, Android, and others

Regional Analysis:

The global game API market, by region, has been segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America is a major regional market for game API. The early adoption of novel technologies into the gaming industry is the primary factor responsible for driving the growth of the market. It is likely to exhibit a similar trend over the next couple of years. Furthermore, factors such as adoption of micro service architecture as well as the implementation of the latest application development methodology are projected to dictate the expansion of the game API market in the region over the assessment period.

Asia Pacific resonates strong opportunities for growth presently and is expected to expand at a rapid pace in the foreseeable future. An upsurge in demand for game API is predicted, thus, the market is likely to augment over 2023. Fast-developing economies of the region such as China and India are prognosticated to catalyze the expansion of the game API market in the forthcoming years. These countries are expected to emerge as promising country-level markets towards the end of the projection period.

Competitive Landscape:

Some of the key players profiled in the report are NetEnt (Sweden), Neteller (England), Matrix Games (England), Microsoft Corporation (U.S.), Cake Network (Netherland), Google (U.S.), Amazon.Com, Inc. (U.S.), CA Technologies (U.S.), Apigee Corp. (U.S.), and Tibco Software Inc. (U.S.). 

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Cloud Object Storage Market Research Report Analysis and Demand with Forecast To 2023

 Cloud Object Storage Market, By Service (Professional Service, Managed Service), By Organization Size (Large Enterprises, Small and Medium Enterprises), By Cloud Deployment (Public, Hybrid), By End-User (Social Media Platforms) – Global Forecast 2023

Market Synopsis:

The global cloud object storage market, according to Market Research Future (MRFR)’s report, is projected to scale a stellar CAGR of 14% during the forecast period 2017 to 2023. The global market is poised to touch a valuation of USD 6 Bn by the end of 2023. The report indicates that a rapid shift towards the cloud storage and conveniently accessible data is primarily responsible for driving the growth of the cloud object storage market in the upcoming years.

The technological innovations provided by the key players such as HP’s Open Stack technology, IBM’s most flexible portfolio of cloud object storage solutions, etc. are likely to boost the growth trajectory of the cloud object storage market over the next couple of years. Furthermore, the availability of different deployment models has unleashed various opportunities in the market.

The market is at a nascent stage and is likely to be penetrated by new entrants in the upcoming years. This, in turn, has been prognosticated to have a favorable impact on the proliferation of the cloud object storage market across the forecast period. However, the security and privacy issues are anticipated to check the expansion of the cloud object storage market over the next couple of years.

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Market Segmentation:

By Service, the cloud object storage market has been segmented into professional service, and managed service.

By organization size, the cloud object storage market has been segmented into large enterprises, and small & medium enterprises

By cloud deployment, the global cloud object storage market has been segmented into public cloud, hybrid cloud, and private cloud.

By end-user, the cloud object storage market has been segmented into social media platforms, IT & telecommunication, BFSI, and others.

Regional Analysis:

By region, the global cloud object storage market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America is presumed to lead the expansion of the global market through the projection period. The consolidation of key players in the region is likely to aid the proliferation of the cloud object storage market in the region across the review period. In addition, the large-scale inflow and outflow of massive data has intensified the adoption of cloud storage services in the region among both large as well as small & medium enterprises. Meanwhile, Asia Pacific is also expected to resonate strong opportunities and exhibit drastic rise in growth curve of the cloud object storage market.

Competitive Dashboard:

Some of the major players participating in the cloud object storage market are International Business Machines Corporation (U.S.), Dell EMC (U.S.), Hewlett-Packard Enterprise (U.S.), Hitachi Data Systems (U.S.), Caringo Inc. (U.S.), Datadirect Networks (U.S.), International Data Corporation (U.S.), Netapp, Inc. (U.S.), Microsoft Corporation (U.S.), and Google (U.S.).

Industry News:

In October 2018, Elastifile, a cloud file system startup, has announced the addition of automated tiering to its cloud object storage.

In January 2019, the leading developer of grid-scale software-defined storage solutions, OSNEXUS, announced that a next-generation scalable storage management platform, QuantaStor 5, will now be available with new upgrades and integrations offering hyperscale storage technology, advanced analytics, automation.

In January 2019, the global leader in storage and information management services, Iron Mountain Incorporated®, announced the launch of Iron Mountain® Iron Cloud™ Object Storage in Canada for the expansion of its cloud portfolio.

In January 2019, a leader in backup solutions that facilitates Intelligent Data Management, has announced that new Veeam Availability Suite 9.5 Update 4 will come with cloud data management capabilities.

In February 2019, Microsoft, an American multinational technology company, has announced the rolling out of Azure Data Lake Storage Gen2 and Azure Data Explorer for commercial use.

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