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PR Newswire

MoEngage Debuts in the Real-Time Interaction Management Report by Independent Research Firm

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SAN FRANCISCO, March 13, 2024 /PRNewswire/ — MoEngage, the insights-led customer engagement platform, has debuted in The Forrester Wave™: Real-Time Interaction Management, Q1 2024 report under the “Contenders” category.

MoEngage has received top scores across the digital marketing and experience personalization criteria. MoEngage’s reference customers complimented its local on-the-ground support and its ability to integrate into their existing ecosystems. One customer also spoke about the support teams always being available during testing times.

“We are thrilled to make this debut as we are the youngest player in this space. Our founding principle at MoEngage was the understanding that consumer brands want to understand their customers and engage with them in real-time. However, they are hindered by legacy tools that focus on campaigns rather than the end consumer’s preferences.

Over time, our hypothesis has been proven correct. Last year, we successfully onboarded a record number of customers from outdated marketing clouds, including brands migrating from our largest competitor. This validates our belief that major consumer brands seek to upgrade their outdated marketing technology systems, which have become unnecessarily complex, frustrating to use, expensive, and resource-intensive. Over 1200 global brands from 60+ countries have chosen MoEngage due to our comprehensive product offerings, innovation, user-friendly interface, and ability to handle the complexities, security, scalability, and migration processes associated with enterprise-level operations,” said Raviteja Dodda, CEO and Co-founder of MoEngage.

Last year, MoEngage made significant investments to strengthen its personalization suite and bridge the gap between businesses and consumers. The company developed products to ensure enterprise brands could access the latest channels and capabilities, including generative AI from a single platform. This has helped MoEngage’s enterprise customers simplify the tech stack and eliminate the need to switch platforms while lowering the total cost of ownership. 

The Forrester WaveTM highlights Leaders, Strong Performers, Contenders, and Challengers. In its 30-criterion evaluation of real-time interaction management vendors, Forrester has identified the most significant ones and researched, analyzed, and scored them as part of this report. Forrester recommends brands look for providers that maximize cross-functional CX investments, facilitate the adoption of responsible AI, and help align customer outcomes with business goals. You can access the full report here.

About MoEngage

MoEngage is an insights-led customer engagement platform trusted by over 1,200 global consumer brands such as Ally Financial, McAfee, Flipkart, Domino’s, Nestle, Deutsche Telekom, Travelodge, and more. MoEngage empowers marketers and product owners with insights into customer behavior and the ability to act on those insights to engage customers across the web, mobile, email, social, and messaging channels. Consumer brands across 60 countries use MoEngage to craft personalized experiences in real-time for over 1.6 billion customers every month. With offices in 13 countries, MoEngage is backed by Goldman Sachs Asset Management, B Capital, Steadview Capital, Multiples Private Equity, Eight Roads, F-Prime Capital, Matrix Partners, Ventureast, and Helion Ventures.

To learn more, visit www.moengage.com.

PR Newswire

Privy Appoints New Country Lead and Charts Course for Better Digital Trust Solutions in Australia

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  • Privy extends its reach to Australia, introducing solutions that authenticate agreements, people and businesses to build digital trust.
  • Launch to coincide with Australia’s increase in government spending and expansion of digital ID regulation
  • Privy’s growth plans are bolstered by a recent US$48 million investment, led by leading global investment firm, KKR.

SYDNEY, March 12, 2024 /PRNewswire/ — Privy, a leading digital trust solution provider with a user base exceeding 42 million, has today announced the appointment of Rob Hotchin as its local Country Manager, following the recent launch of its Australia office. Rob’s appointment marks the next phase of the business’s growth, following a USD$48 million investment, led by global investment firm, KKR. 

Rob Hotchin Country Manager for Privy Australia
Rob Hotchin Country Manager for Privy Australia

Leveraging his extensive experience and network, Rob will lead Privy’s expansion into the Australian landscape, aiming to launch its digital trust solution to market by H2 2024, while aligning with Australia’s expansion of its regulated digital ID framework.

Rob is a seasoned go-to-market leader with over 15 years of experience, who previously contributed to the growth of global identity solution provider, OKTA.

His appointment, as well as the growth of his team in a Sydney-based office, underscores Privy’s dedication to producing a tailored product that meets the unique needs of Australian individuals and businesses.

Rob Hotchin, Country Manager, Privy Australia, said, “Privy is set to redefine digital trust and help Australians regain control of their most authentic asset, their identity.”

“Currently, Australians are forced to give up their identity and personal data – whether that is to check into a hotel, lease a property, or myriad other reasons – and blindly trust that it will be kept safe. With the advent of seemingly never-ending cyber breaches, and leaking of personal information onto the dark web, Australians should be able to demand more. Now they can, knowing that Privy has solved these challenges before and will look to solve them again in Australia.”

Marshall Pribadi, Co-Founder and CEO of Privy welcomes Rob’s appointment, noting that it marks the critical next step in the business’s international growth plans. “Rob has the skills and ability to build expansive and genuine relationships in Australia, and to support our vision of becoming a global leader in the field of electronic identification and authorisation services.” 

“Over the past eight years, Privy has developed its expertise in shaping and improving the digital identity landscape and engaging with the likes of governments, banks and other financial institutions. Now, Privy aims to contribute its expertise to the Australian market.”

Privy is currently ISO 27001 and ISO 277701 certified.

About Privy

Privy is a fully verified digital identity provider, born in one of the toughest authentication markets in the world. Trusted globally, we serve over 3,000 clients with 45 million onboarded users. Privy aims to redefine digital trust for today and the future with user-centric solutions that seamlessly verify authenticity across agreements, people and business. With Privy, electronic signatures and verification are offered in one unified platform for enhanced security, convenience, and peace of mind.

In July 2023, Indonesian Minister of Trade inaugurated Privy’s first international office in Sydney, Australia.

Privy Australia welcomes discussions, collaborations, and knowledge-sharing on mitigating cybersecurity risks, securing user data, and building digital trust in Australia. For more information on Privy, visit www.privy.com.au or email info@privy.com.au.

PR Newswire

AsiaPay and Solaire Resort Entertainment City forge a partnership to enhance their digital payment.

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MANILA, Philippines, March 6, 2024 /PRNewswire/ — AsiaPay, a leading digital payment service and technology provider in Asia, has partnered with Solaire Resort Entertainment City, the premier Filipino integrated resort in the Philippines, to simplify online payments for consumers booking a hotel room in the Philippines.

Through the partnership, AsiaPay’s payment gateway PesoPay has been integrated into Solaire Resort Entertainment City’s online booking engine, providing an automated and secure way for hotel customers to make upfront payments when booking online or via mobile devices. With AsiaPay serving merchants across various industries in the Philippines for over 16 years, both companies aim to provide customers in the Philippines and Asia with a convenient, seamless, and automated room booking and payment experience.

With the integration of payment pipelines aligned with AsiaPay, it is expected to expand further online sales share and boost the overall hotel turnover, said AsiaPay Associate Director Alberto Javier. “For Solaire Resort Entertainment City, the new custom upgrade of the payment system will save on labor costs in order to cope with the new challenges facing the hotel industry. Now, orders from each payment pipeline are streamlined with AsiaPay’s PesoPay payment console and merchant dashboard; operation-wise, queries for detailed order payment information can easily be validated without the need to login repeatedly into multiple consoles. At the same time, hotel customers are now able to quickly verify the order details. This translates to efficiency in customer service and collections, now that the hotel can easily capture the payment online. The payment dashboard’s capability to display all the payments immediately makes reconciliation and dispute management much simpler.”

About AsiaPay

AsiaPay is a leading digital payment service and technology provider in Asia, serving banks and merchants for over 23 years with advanced, safe, and comprehensive e-payment solutions. AsiaPay delivers secure, scalable, and customized payment solutions for all sizes of businesses across various industries in Asia.

About Solaire Resort Entertainment City

Solaire Resort is the first integrated destination resort on an 8.3-hectare site in Manila’s Entertainment City. Solaire boasts 793 luxurious resort-style accommodations in two distinctive towers, extensive dining options, impressive gaming facilities and state-of the art lyric theatre that has changed the way people view resort casinos in Manila. Solaire offers unique experience of comfort, elegance, and luxury, all underlined by the staff’s unparalleled warm Filipino hospitality.

PR Newswire

U Power Announces Market Validation Phase of Shared Battery Swapping Solution for Two- and Four-wheeled EVs

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SHANGHAI, Feb. 12, 2024 /PRNewswire/ — U Power Limited (Nasdaq: UCAR) (the “Company” or “U Power”), a vehicle sourcing services provider with a vision to becoming a comprehensive EV battery power solution provider in China, today announced that their shared battery swapping solution designed for both two- and lightweight four-wheeled electric vehicles (“EVs”) has entered the market validation phase. The first batch of over 40 battery swapping stations offering battery swapping services for both two- and lightweight four-wheeled EVs has been set up in Shanxi, China, catering specifically to the needs of delivery services and the food delivery industry.

Upon successful completion of the market validation phase, the Company aims to extend its service by gradually deploying over 200 of their specialized battery swapping stations in additional Chinese provinces, including Shandong, Anhui, and Shanxi. U Power’s battery swapping technology seamlessly accommodates both two- and lightweight four-wheeled EVs by utilizing battery packs with identical specifications. This system allows different models of EVs to swap battery modules at the same station. For instance, two-wheeled EVs may use 2-4 sets of battery modules, while their lightweight four-wheeled counterparts may use 4-8 sets of battery modules. The procedure entails initiating the swap via cell phone verification at the battery station, followed by manual battery swapping.

Mr. Jia Li, Chief Executive Officer and Chairman of the Board, commented, “Our shared battery swapping solution is an exciting innovation for individuals employed in the delivery industry. We are confident that our solution will help delivery service providers lower their daily operating costs, while enhancing overall vehicle efficiency. When compared to the cost of purchasing and charging a battery, our leasing system is projected to reduce battery operating expenses by around 30%. Once our solution officially launches, we anticipate the creation of significant business opportunities that will generate long-term value for our shareholders.”

About U Power Limited

U Power Limited is a vehicle sourcing services provider, with a vision to becoming an EV market player primarily focused on its proprietary battery-swapping technology, or UOTTA technology, which is an intelligent modular battery-swapping technology designed to provide a comprehensive battery power solution for EVs. Since its operation in 2013, the Company has established a vehicle sourcing network in China’s lower-tier cities. The Company has developed two types of battery-swapping stations for compatible EVs and is operating one manufacturing factory in Zibo City, Shandong Province, China. For more information, please visit the Company’s website: http://ir.upincar.com/.

Forward-Looking Statements

This press release contains “forward-looking statements”. Forward-looking statements reflect our current view about future events. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “could,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is/are likely to,” “propose,” “potential,” “continue” or similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the SEC.

Contact

U Power Limited
Investor Relations Department
Email: ir@upincar.com

Robin Yang, Partner
ICR, LLC
Email: UPower.IR@icrinc.com
Phone: +1 (212) 475-0415

PR Newswire

Huawei Unveils Expansion of its Talent Development Program in Rome this Summer

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Announcement Made at End of Week-Long European Event in China

BEIJING, Feb. 7, 2024 /PRNewswire/ — A week-long “Seeds for the future European Grand Finale,” bringing together a select cohort of “Seeds for the Future” alumni hailing from 18 European countries, ended on January 23. Throughout the week, participants engaged in illuminating sessions with tech experts, delved into the realms of connectivity and innovation, and contributed to insightful panel discussions on crucial topics such as diversity, green skills, and sustainability.

The pinnacle of the event, the Closing Ceremony, reverberated with the theme of international cooperation as a cornerstone for crafting a sustainable future for European talent. As we bid farewell to this enriching week of collaboration, Huawei proudly acknowledged the collective strides taken towards fostering innovation, knowledge exchange, and a shared commitment to a sustainable future.


Prof. Shahbaz Khan, Director of the UNESCO Multisectoral Regional Office for East Asia, said during the closing event: “We are delighted to see UNESCO and Huawei’s visions align with each other on eradicating digital illiteracy in young people. On February 2023, Huawei become an associate member of the UNESCO Global Alliance for Literacy (GAL). As the first private company to be an associate member of GAL, Huawei is committed to enhance educators’ use of technology in developing countries.”

Also at the closing ceremony, the Senior Vice President of Huawei Europe, Radoslaw Kedzia, announced a planned expansion of Seeds for the Future in Europe: “Huawei is proud to unveil a new chapter in the “Seeds for the future” program – an immersive, fully offline edition set to take place in Rome, Italy, in July 2024. This initiative, driven by the spirit of international collaboration and dialogue, will bring together students from diverse corners of Europe to converge in one city, fostering a vibrant ecosystem for learning and collaborative development of Tech4Good startup ideas.”

Earlier on, Huawei had unveiled the launch of a Seeds for the Future Scholarship program designed to support talented ICT students in the Netherlands, Bulgaria and Cyprus. This initiative underscores the company’s steadfast commitment to cultivating and nurturing exceptional talent.

Underlining the importance of such opportunities for students, the Ambassador of Cyprus, Martha Mavrommatis, speaking on behalf of the Minister of Education, Sports and Youth, Dr Athena Michaelidou, congratulated Huawei for the successful event and the students for all their efforts towards a sustainable and ecofriendly development. She said: “Companies like Huawei are making investments themselves, in parallel with institutional initiatives, like those of European Union and the member states. Huawei Seeds for the Future program, as the name suggests, is deeply engaged in identifying localized talent and in enhancing knowledge-sharing among professionals and youth.”

Also present, Annette Nijs, Former State Secretary for Education in the Netherlands, noted: “The commitment of Huawei to encourage students who embrace technology is as admirable as it is important. After all, technology will continue to create a fundamental shift in the way we work and live. ICT students of today will use technology in their careers to give wings to the changes of our societies.”

The Ambassador of Moldova, Dumitru Braghis, added: “Seeds for the Future, as Huawei’s flagship CSR program, not only exemplifies corporate responsibility but also showcases a commitment to guiding young talent globally. The program, designed to shape the next generation of leaders in the digital age, goes beyond technical skills. It promotes a sense of global citizenship, encourages cultural exchange, and fosters an entrepreneurial spirit.”

Source: HUAWEI TECHOLOGIES CO., LTD.

PR Newswire

WeBank Recognized as a World Leading Digital Bank driven by Innovation

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SHENZHEN, China, Jan. 31, 2024 /PRNewswire/ — Leading IT market research and advisory firm International Data Corporation (IDC) published its latest case study report, How Does WeBank Lead the Way Among Digital Banks Worldwide? (Doc # CHE50976724,January 2024) The report recognizes WeBank as the benchmark in the development of digital bank worldwide.

The report provides an in-depth analysis of the successful practices of WeBank as a world-leading digital bank in terms of its innovation in technology, digital inclusive finance business model, digital risk management and user experience.

(Executive snapshot from How Does WeBank Lead the Way Among Digital Banks Worldwide? (CHE50976724) published on 31 January 2024)
(Executive snapshot from How Does WeBank Lead the Way Among Digital Banks Worldwide? (CHE50976724) published on 31 January 2024)

“WeBank’s innovative ideas and methods in digital bank development are not only applicable to itself but also highly valuable for all digital banks, traditional banks, and other financial institutions,” Alice Wen, research manager at Financial Insights, IDC China, says, “it is recommended that financial institutions fully leverage emerging technologies to actively adopt a blue ocean strategy in developing financial inclusion business, while maintaining a sense of crisis and continuous innovation to gain the initiative and advantage in the future competition.”

WeBank Takes Fintech and Innovations to Drive the Development of Businesses

Amid the rise of digital banks across Asia, Europe, and the Americas, WeBank takes a prominent position by leveraging financial technology to introduce innovative products in China’s financial sector.

The report fully analyzes the resources WeBank has committed to the research and development of core and key technologies such as Artificial Intelligence, Blockchain, Cloud Computing, and Big Data (ABCD) to construct as well as support its business. Notably, WeBank’s Openhive-based distributed core banking system has ensured a secure, efficient, and superior digital customer experience catering to its growing consumer base.

Simultaneously, WeBank advocates for FinTech open source on two fronts: internally via its open-source governance system, and externally through open-source projects centering around ABCD technologies. By June 2023, WeBank had successfully launched 35 open-source projects.

WeBank as an Example of Digital Banking in Financial Inclusion 

Entering its tenth year, China’s inclusive finance development, featuring digital finance variables, is key in the government’s agenda to boost the nation’s financial strength.

WeBank’s strides in this field have filled market gaps and demonstrated the great potential of sustainable inclusive finance within commercial businesses. It brings lasting changes in perceptions within financial institutions from the aspects of FinTech capability, digital product innovation, risk management and customer experience. By now, WeBank has delved into two segments, namely consumer finance and MSME (small and medium-sized enterprises) finance, providing high-quality services to over 370 individual customers and 4.1 million micro, small and medium-sized entities in China. Its successful innovation in inclusive finance has led to ripple effects in industry development, making it a desirable model even for global digital banks.

In November 2023, WeBank was awarded the honor of “Special Award for Digital Native Business” by IDC Future Enterprise Awards in Asia-Pacific region, acknowledging its forward-thinking and exceptional innovation.

Full report:
https://www.idc.com/getdoc.jsp?containerId=CHE50976724&pageType=PRINTFRIENDLY 

About WeBank

Launched in 2014, WeBank Co., Ltd. (“WeBank”) is the first digital bank in China. WeBank provides more convenient financial services to micro-, small- and medium-sized enterprises (MSMEs) and the public, and continuously improves the quality of services in response to customers’ specific needs. As one of the top 100 banks in China, WeBank now ranks 284 in the Top 1000 World Banks by The Banker.

WeBank focuses on innovation and technology. As the first commercial bank to obtain the national high-tech enterprise certification in China, WeBank has maintained its proportion of technical personnel above 50% since its establishment, while its research and development expenses of accounted for around 10% of its revenue. WeBank is now at the top of the industry in core technologies such as artificial intelligence (AI), blockchain, cloud computing and big data.

PR Newswire

DFI Unveils Embedded System Module Equipped with Intel’s Latest AI Processor to Enter the AI IPC Market

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TAIPEI, Jan. 31, 2024 /PRNewswire/ — DFI, the world’s leading brand in embedded motherboards and industrial computers, is targeting the AI application market by launching the embedded system module (SOM) MTH968 equipped with the latest Intel® Core™ Ultra processor. It is the first product integrated with an NPU (Neural Processor Unit) processor, representing the official integration of AI with industrial PCs (IPCs). With the expansion into AI IPC, DFI expects to inject new momentum into the AI edge computing market.

According to the STL Partners report, the potential market value of global edge computing will increase from US$9 billion in 2020 to US$462 billion in 2030, representing a compound annual growth rate (CAGR) of 49%. Therefore, the development of products that utilize the core capabilities of chips to rapidly execute AI edge computing in devices has become a key focus for many major technology companies.

DFI’s MTH968 adopts the COM Express (COM.0 R3.1) Type 6 module standard and is equipped with an Intel Meteor Lake processor, marking the debut of integrated CPU, GPU, and NPU on a single chip. Two “low-power, high-efficiency cores (LP E-core)” are built in, reducing power consumption by 30% to 50%, optimizing the CPU by 10%, and improving GPU performance by up to 114% compared to previous generation Intel processors.                            

The built-in NPU of Meteor Lake enhances the performance of the MTH968 in critical AI tasks. Based on new AI computing architecture, the device can more efficiently process advanced AI edge computing, complex graphics computing, and other applications, while saving data on cloud costs.

The MTH968 has highly customizable integration capabilities and a fanless wide temperature design(operating from -40°C to 85°C), and utilizes DDR5 and NVMe SSD to optimize high-efficiency computing performance, reduce latency, and enhance storage speed. The MTH968 can be widely used in AIoT fields such as industrial automation, smart transportation, and smart agriculture.

As 5G, edge computing, and remote control tech advance, IPCs directly handle complex tasks through AI edge computing. DFI’s MTH968 excels in high-performance computing with account energy efficiency, enhancing computing and customizable flexibility, thereby accelerating industrial AI application upgrades.

Key features:

  • Equipped with Intel® Core™ Ultra processor (Meteor Lake)
  • Supports dual-channel DDR5 and NVMe SSD
  • Fanless and wide temperature design: -40°C to 85°C
  • Compact size: 95mm * 95mm
  • Com Express Type 6

For more information: LinkedIn or contact us. 

Contact 

eva.chen@dfi.com 
evelyn.chang@dfi.com 

Source: DFI Inc.

PR Newswire

LPS Unveils New Brand Identity, Fully Embracing Lenovo’s AI for All Transformation Journey in Asia Pacific

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Rebranding supports Lenovo’s vision – ‘AI for ALL’ – by collaboratively enhancing AI-powered services and solutions to propel smarter city development

HONG KONG, Jan. 23, 2024 /PRNewswire/ — Lenovo PCCW Solutions (LPS) today announced a leap in branding direction, embracing a new corporate image as “LPS”, an acronym of the company’s full name. The rebranding couples with Lenovo’s newest moves to emphasize AI-powered transformation, solidifying LPS as a premier digital solutions provider in the Asia Pacific region.

The move comes alongside recent findings suggesting that: CIOs are nearly twice as likely to prioritize innovation in new technologies over optimizing their current tech stack, according to the annual Lenovo Global Study of CIOs 2.0[1]. Furthermore, over 90% of respondents emphasize the importance of having the right technology partners to increase business agility and ensure effective operations.

Since its induction into Lenovo in 2022, LPS has continued to strengthen its regional presence and delivery capabilities by harnessing new synergies with Lenovo. This brand evolution represents a significant milestone for LPS, highlighting its strategic vision to channel two decades of system integration experience and service excellence towards innovation and customer satisfaction.

Ken Wong, Executive Vice President and President of Lenovo’s Solutions & Services Group, said, “Integrating LPS into Lenovo is a key example of how we continue to diversify our offerings to support the growth of the Asia Pacific region, and drive Lenovo’s leadership in IT solutions and services in the region. We are focused on strengthening our capabilities and investing in new technologies to help empower companies in their digital transformation journeys.” 

With access to Lenovo’s infrastructure and R&D capabilities, LPS is uniquely equipped to advance emerging technologies such as digital twin, blockchain, web 3.0, and address technology needs both locally and globally. LPS’ go-to-market units will bolster both public and enterprise sector projects, taking full advantage of its expertise in key business segments including aviation, travel & transportation, communications, and financial services.

Our new look to progress smarter


A new logo design accentuates the company’s strengths and uniqueness, symbolizing the synergistic capabilities of Lenovo and LPS’ heritage. It manifests our unwavering commitment to smarter progress, becoming more sustainable with our cities, clients, and people.

Ted Suen, Deputy CEO of LPS, said, “We are excited to unleash the full potential of our new brand identity. This vibrant injection of energy will be a valuable asset as we continue to shift towards AI-powered solutions and closer collaboration with Lenovo. With delivery excellence and solutions integration imprinted in our DNA, LPS is ready to mature into a trusted digital partner to better serve our clients, fostering smarter city development in the Asia Pacific region.”

As Hong Kong’s No. 1 company in both application development and systems integration for a full decade according to IDC[2], LPS will look to maintain its growing momentum with Lenovo, with new projects and upcoming large-scale industry event collaborations slated to make 2024 another record year.

[1] Lenovo Global CIO Study is an annual survey of IT leaders and decision-makers commissioned by Lenovo, covering nine key markets: Brazil, Mainland China, Germany, Hong Kong SAR, India, Japan, Singapore, the United Kingdom, and the United States. The online survey has a sample size of 682 and was conducted between March 3-25, 2023.

[2] Source: IDC Worldwide Semiannual Services Tracker (2023H1 release)

About Lenovo PCCW Solutions (LPS)

LPS is a leading IT and technology solutions provider in the Asia Pacific. We partner with governments and enterprises to achieve digital transformation excellence, driving business growth through our market-leading solutions and industry best practices. As a proud member of Lenovo Group, we have unlocked new synergies with Lenovo’s global reach and technological capabilities. With our 4,600+ team of experts and a strong network of ecosystem partners, LPS is committed to providing end-to-end technology solutions and services, including systems integration, application development and operation, managed services, cloud services, IT outsourcing, and technical services.

To find out more about LPS, please visit www.lpstech.com.

PR Newswire

Forrester: Global Tech Spend To Grow 5.3% In 2024, Reaching $4.7 Trillion

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The Asia Pacific region will see the fastest growth; six countries forecasted to have the largest GDP growth are in Asia

SINGAPORE, Jan. 19, 2024 /PRNewswire/ — Forrester’s (Nasdaq: FORR) Global Tech Market Forecast, 2023 To 2027, reveals that as economic conditions continue to improve, technology spend will grow 5.3% in 2024 — up from 3.5% in 2023. Two factors will primarily contribute to this growth: Increased spending on software and IT services, including generative AI (genAI), cloud, security, and digital, and economic growth in Asia Pacific. By 2027, software and IT services will capture 69% of global tech spend, with investments in genAI software predicted to reach $227 billion by 2030 at a 36% compound annual growth rate. Asian countries, especially India, the Philippines, Vietnam, Indonesia, Malaysia, and China, will see the fastest tech spend growth in 2024.

Global tech spend is expected to reach $4.7 trillion in 2024, with growth occurring across all regions:

  • Asia Pacific will grow 5.7%. India is one of the largest exporters of technology services: IT exports will reach $194 billion in 2023, and total technology and service industry revenues could reach $350 billion by 2025.
  • North America will grow 5.4%. Software and IT services will capture 60% of US tech spend in 2027, up from 53% in 2018. Financial services and healthcare will see the fastest tech spend growth in 2024, with more modest growth in retail, manufacturing, transportation, and logistics.
  • Europe will grow 5.1%. After a challenging 2023, the European economy will recover in 2024 to grow almost double the rate compared to the previous year. Longer term, European tech spend will see 5.1% to 5.7% growth from 2024 to 2027, driven by higher enterprise digital maturity and more advanced cybersecurity adoption.

“Technology companies faced significant economic headwinds this past year, but 2024 promises a better outlook,” said Michael O’Grady, principal forecast analyst at Forrester. “Asia will see the fastest economic growth due to India’s growing IT export market as well as significant investments in tech innovation. Similarly, in the US, heavy investments in emerging technologies through the development of three primary CHIPS and Science Act agencies will fuel tech spend growth. In Europe, greater investment in cybersecurity and the EU’s Coordinated Plan on AI will help the region bounce back. Demand for cloud and AI is strong across all regions, with genAI expected to boost the tech market over the next three years.”

Resources:

About Forrester
Forrester (Nasdaq: FORR) is one of the most influential research and advisory firms in the world. We help leaders across technology, customer experience, digital, marketing, sales, and product functions use customer obsession to accelerate growth. Through Forrester’s proprietary research, consulting, and events, leaders from around the globe are empowered to be bold at work — to navigate change and put their customers at the center of their leadership, strategy, and operations. Our unique insights are grounded in annual surveys of more than 700,000 consumers, business leaders, and technology leaders worldwide; rigorous and objective research methodologies, including Forrester Wave™ evaluations; 100 million real-time feedback votes; and the shared wisdom of our clients. To learn more, visit Forrester.com.

PR Newswire

Denodo gains momentum in Thailand with growing demand for next-generation logical data management

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Thailand is one of Denodo’s focus markets as the company’s overall APAC business growth supersedes other regions; affirms the opportunities for Denodo’s data innovations and solutions

BANGKOK, Jan. 16, 2024 /PRNewswire/ — Denodo, a leader in data management, is committed to growing its presence in Thailand to deliver the next frontier in logical data management, led by Dr Nitipong Boon-Long, Country Director of Thailand; and overseen by Robin Fong, Regional Vice President & General Manager of ASEAN & Korea.

Working closely with leading Thai System Integrators, Denodo recently partnered with one of the largest healthcare providers in Thailand, who deployed Denodo to substantially improve its Hospital Information System (HIS) for enhanced patient care and improved operational efficiency. This collaboration signifies Denodo’s strategic venture into Thailand’s healthcare sector – positioning Denodo as accelerating excellence in healthcare through digitally-driven healthcare data management. Denodo’s logical approach to data management – poised to drive digital transformation for Thai enterprises, is also particularly evident through the partnerships Denodo has forged with the likes of STelligence and Inteltion.

Denodo Country Director of Thailand Dr Nitipong Boon-Long (third from left); STelligence CEO/Founder Dr. Santisook Limepeeticharoenchot (fourth from left); Denodo Executive Vice President Suresh Chandrasekaran (fifth from left)
Denodo Country Director of Thailand Dr Nitipong Boon-Long (third from left); STelligence CEO/Founder Dr. Santisook Limepeeticharoenchot (fourth from left); Denodo Executive Vice President Suresh Chandrasekaran (fifth from left)

“We are delighted to be joining forces with Denodo to help solve the data challenges of Thai enterprises. Denodo’s award-winning platform is highly respected in the data management landscape, and their dedication to addressing the specific data challenges faced by Thai enterprises on their digital transformation journey, along with their commitment to robust data governance, is second to none”, said Dr. Santisook Limepeeticharoenchot, CEO/Founder of STelligence.

Denodo Platform is the leading data integration, management, and delivery platform using a logical approach to enable self-service business intelligence (BI), data science, hybrid/multi-cloud data integration, and enterprise data services. Leveraging Denodo Platform, organizations acquire timely, trusted, and integrated datasets for faster analytics and informed business decisions. Some of the most well-recognized Fortune 500 and Global 1000 brands trust the Denodo Platform to improve customer experiences, gain operational efficiencies and agility, achieve self-service data democratization, and realize IT infrastructure modernization.

At Denodo’s recent annual technical retreat which brings together more than 200 technical team members from its offices worldwide, the team discussed on adding new features and functions, as well as other technical aspects of the Denodo platform. The retreat was held in Bangkok, Thailand – one of the burgeoning markets for Denodo in APAC, and in view of continued investment bolstering its growth trajectory in the region. Denodo’s product and services roadmap to help organizations with digital transformation, advanced analytics, and hybrid/multi-cloud solutions was also discussed at the retreat.

“For the past few years, we have been observing strong growth of our business in APAC, as many forward-looking organizations are embracing a logical data management foundation to accelerate AI and self-service initiatives and in turn propel their business growth,” said Suresh Chandrasekaran, Executive Vice President of Denodo.

“Thailand is one of the markets within APAC where we are betting big on our future growth and we already see signs of our success in this part of the world, in terms of both customer acquisition and new partnerships. While we already close to a hundred enterprise customers across APAC region using our platform for their digital transformation journey, we look forward to helping hundreds more to become more competitive through higher levels of data utilization and compliance, and achieve a radical impact in operational efficiencies.”

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About Denodo

Denodo is a leader in data management. The award-winning Denodo Platform is the leading data integration, management, and delivery platform using a logical approach to enable self-service business intelligence (BI), data science, hybrid/multi-cloud data integration, and enterprise data services. Realizing more than 400% ROI and millions of dollars in benefits, Denodo’s customers across large enterprises and mid-market companies in 30+ industries have received payback in less than 6 months. For more information, visit www.denodo.com or call +1 877 556 2531 (US) / +44 (0) 20 7869 8053 (UK) / +65 6950 7489 (Singapore).