FinancialBuzz.com News Commentary
New York, NY (6/21/2022) – The cloud computing market has dramatically evolved in recent years. Generally, cloud computing technology was designed to help businesses and governments use remote servers hosted on the internet to store, manage, and process critical data. Over the last decade, however, the increasing volume of data generation in websites and mobile apps, the rising focus on delivering customer-centric applications for driving customer satisfaction, and the growing need to control and reduce Capital Expenditure (CAPEX) and Operational Expenditure (OPEX) are just a few of the factors driving the growth of the emerging trends in cloud computing. Furthermore, emerging technologies such as big data, AI, and Machine Learning (ML), are gaining traction, leading to the growth of the cloud computing market globally. And, according to data provided by MarketsandMarkets research, the global cloud computing market size is expected to grow from USD 445.3 Billion in 2021 to USD 947.3 Billion by 2026, while at a Compound Annual Growth Rate (CAGR) of 16.3% during the forecast period. uCloudlink Group Inc. (NASDAQ: UCL), VNET Group, Inc. (NASDAQ: VNET), Fastly, Inc. (NYSE: FSLY), Nutanix, Inc. (NASDAQ: NTNX), Hewlett Packard Enterprise (NYSE: HPE)
The pandemic has impacted the cloud computing industry in major ways. Now, many large enterprises and governments have adopted the work-from-home model to safeguard employee well-being and maintain operational efficiency, surging the demand for Software-as-a-Service (SaaS)-based collaboration solutions. For example, according to the research, Microsoft Team platform users increased to 44 million globally due to the high demand for collaboration solutions. Additionally, the standalone 8×8 Video Meetings cloud solution experienced a more than 300% increase in registered users in the early 2020 across approximately 150 countries. Other popular SaaS-based collaboration tools that have gained traction include Google Hangouts, Cisco Webex, Slack, Zoom, Ding Talk, WeChat Work, and Tencent Meeting, among others.
uCloudlink Group Inc. (NASDAQ: UCL) reported earlier this month that, ‘the Company’s operating subsidiary, HONG KONG UCLOUDLINK NETWORK TECHNOLOGY LIMITED, has expanded its existing relationship with Ctrip Travel Holding (Hong Kong) Limited (“Ctrip”), an operating subsidiary of Trip.com Group Limited (NASDAQ: TCOM; HKEX: 9961), through various contracts whereby UCLOUDLINK will provide international data connectivity services and products through Ctrip’s platform.
Ctrip will continue to act as a selling agent for UCLOUDLINK’s data connectivity services and products through Ctrip’s platform. UCLOUDLINK will also provide its standard and customized international data connectivity services to Ctrip’s self-run tour groups and those run by third party travel agencies on the Ctrip platform.
Despite being affected by the emergences of the Omicron variant and the increasing global uncertainty, global tourism is roaring back with a robust momentum unseen since 2021. According to the latest UNWTO World Tourism Barometer, the data shows that during the first quarter of 2022, Europe welcomed almost four times as many international arrivals (+280%) as in Q1 of 2021, with results driven by strong intra-regional demand. In the Americas arrivals more than doubled (+117%) in the same three months.
‘We have been working with Ctrip for many years and are pleased to deepen our relationship with a leading global one-stop travel platform. Against the backdrop of the travel boom at the start of 2022 that is set to drive up the global spending on travel-related services, we build upon the years-long business alliance with Ctrip to further expand the availability of our international data connectivity services and related products for customers worldwide, allowing them to stay connected with the help of UCLOUDLINK’s reliable, better, high-quality internet data connectivity services and accessories, whether it is for traveling, remote working, or remote learning.’ said Chaohui Chen, CEO of UCLOUDLINK.
As a pioneering technology solution provider in the era of 5G Cloud, in addition to its data connectivity services, hyper-connectivity solutions and relative products, UCLOUDLINK is also spearheading the development of the PaaS and SaaS platform by introducing cloud SIM and hyper-connectivity technology, which is designed to offer uninterrupted, seamless and high-speed internet connection without limitation. Looking forward, UCLOUDLINK will join forces through its extensive global partner ecosystem to expand the applications of our services, solutions, and products as well as make the world better connected without limitation.”
VNET Group, Inc. (NASDAQ: VNET) announced last year, that it has signed a master joint venture investment agreement (the “Master Agreement”) with a sovereign wealth fund (the “Partner”) to form joint ventures (the “JVs”) to pursue development and investment opportunities in multiple build-to-suit hyperscale data center projects in China. Samuel Shen, Chief Executive Officer of VNET, said, “We are excited to partner with the sovereign wealth fund to form joint ventures for the development and operation of multiple hyperscale data center projects in China. As the entire market maintains its ongoing trend towards digitalization, the demand for hyperscale data centers continues to show strength. These joint ventures will serve as dedicated vehicles focusing on the development and operation of build-to-suit data centers in China, allowing us to capitalize on growing data center demand and further strengthen our market position.” VNET Group, Inc. is a leading carrier- and cloud-neutral Internet data center services provider in China. VNET provides hosting and related services, including IDC services, cloud services, and business VPN services to improve the reliability, security, and speed of its customers’ internet infrastructure.
Fastly, Inc. (NYSE: FSLY) announced on May 19th, it has acquired Glitch, a developer platform where more than 1.8 million developers innovate, create, and share full-stack web apps without having to run the infrastructure or manage tools themselves. “Fastly was founded by developers, for developers and, together with Glitch, we take an important step forward in making it easier for customers to innovate at a layer in the software stack that they could not access before,” said Artur Bergman, Chief Architect at Fastly. “This acquisition brings together two of the world’s best ecosystems for application development into a single, seamless developer experience to deliver globally performant, secure and reliable applications at scale.” Fastly is the world’s fastest edge cloud platform.
Nutanix, Inc. (NASDAQ: NTNX) announced on February 15th, the global availability of their simplified product portfolio to align with rapidly evolving customer requirements. The Nutanix Cloud Platform delivers a consistent operating model across all types of clouds: public, private, and hybrid. With this launch, the company has further streamlined customers’ digital transformations by delivering an easy-to-consume set of solutions. “Nutanix’s growth started as a more flexible, easier to manage alternative to SAN storage, and has grown into a full cloud platform from virtualization to networking to security, and supports all workloads across on-premises and public clouds,” said Ashish Nadkarni, Group Vice President, Infrastructure Systems, Platforms and Technologies Group at IDC. “The new product portfolio delivers even more flexibility to help customers adapt to their business’ changing needs.”
Hewlett Packard Enterprise (NYSE: HPE) announced June 14th, that Iliane, a French cloud services and hosting service provider, has selected the HPE GreenLake edge-to-cloud platform to accelerate the deployment of their cloud offerings for regional accounts. The HPE GreenLake platform meets Iliane’s requirements for flexibility, security, manageability and fast delivery of resources and allows Iliane to administer their IT and cloud offerings with extreme flexibility. “We provide reliable, high performing and long-lasting solutions to our customers, so we need an innovative storage solution that will scale up with the increasing demand of the market today,” said Eddy LE NENES, General Manager, Iliane. “The HPE GreenLake platform provides budget predictability and control over our expenses without compromising on the scalability, flexibility, or level of support we require to meet our customers’ needs.”
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