Cloud Computing Services Thrive as the Technology Makes Headway

FinancialBuzz.com News Commentary

NEW YORK, June 30, 2022 /PRNewswire/ -- The cloud computing market is benefiting greatly from the rising popularity of the latest novel technologies like artificial intelligence and machine learning. Cloud computation is enabling these businesses to sustain their operations amid the rising adoption of the work-from-home model. The rapidly advancing cloud computing technology enables efficient storage, access, and management of critical data. Now, with the rising adoption of smartphones, laptops, and the internet, the need for storing and processing huge volumes of data has significantly increased as enterprises are looking to offer customer-centric services to their existing and potential clients. uCloudlink Group Inc. (NASDAQ: UCL), SK Telecom (NYSE: SKM), Ericsson (L.M.) Telephone Co. (NASDAQ: ERIC), Nokia Corp. (NYSE: NOK), Datadog, Inc. (NASDAQ: DDOG)

In addition, 5G technology has been making strides in recent years. 5G is considered to be the next-generation cellular technology that will provide high speed reliable communication at ultra-low latency levels. As such, the technology supports a dense and distributed-access architecture. This helps move data storage and processing to the edge of the network to support edge computing and IoT. "As 5G infrastructure gets deployed and cloud computing resources are extended to the edge of the network, cloud infrastructure and communications networks are becoming increasingly integrated and merged, a trend that is likely to continue with the expansion of 5G deployments," Forbes explained.

uCloudlink Group Inc. (NASDAQ: UCL) announced earlier this month breaking news that, "the Company's operating subsidiary, HONG KONG UCLOUDLINK NETWORK TECHNOLOGY LIMITED has inked an agreement with SAN VENTURE SERVICE GMBH ("SAN Group"), a biotechnology company headquartered in Austria. Under the agreement, SAN Group will utilize UCLOUDLINK's data connectivity services and related products to allow its employees to have access to high-quality data connections at anytime and anywhere. UCLOUDLINK has been the partner for various companies across Europe such as in the financial and car rental industries, as UCLOUDLINK continues to broaden its user base in Europe.

As the leisure and corporate travel gradually recover, UCLOUDLINK's data connectivity services and related products will support SAN Group's employees with seamless data connection while working remotely or on international business trips — allowing them to obtain a high-quality data connection while reducing the cost of roaming. Like SAN Group, enterprises with a large number of employees who travel internationally frequently, now can address their employees' mobile data connectivity issues with UCLOUDLINK's solutions, which ensure a reliable, high-quality and innovative mobile data connection, allowing them to drive greater efficiency and maximize business-trip returns.

Furthermore, UCLOUDLINK has also engaged in continued research and development to strengthen its technical advantages. UCLOUDLINK has developed global 5G roaming solutions which enable users to enjoy high-speed and reliable data connectivity services worldwide. Meanwhile, by leveraging its patented cloud SIM technology and hyper-connectivity solution, UCLOUDLINK's PaaS and SaaS platform will help improve data connectivity services and bring convenience to all its users and business partners from different industries.

To fulfill the increasing demands from more and more enterprises for faster and better data connectivity services used locally and internationally, UCLOUDLINK will continue its ongoing business strategy of consciously shifting its business focus to the development of PaaS and SaaS platform centric service and ecosystem, enabling its business partners and users to transform from "connected" to "better connection" with its core innovative technologies, extensive solutions, services and related products."

SK Telecom (NYSE: SKM), in collaboration with Dell Technologies, announced on March 28th, that it has launched an enterprise 5G mobile edge computing (MEC) solution named 'Petasus', and aims to gain an edge in the global MEC market. "Our collaboration with SK Telecom gives enterprises the capability to quickly act on data at where it resides, at the edge, to deliver better business outcomes," said Dennis Hoffman, senior vice president and general manager, Dell Technologies Telecom Systems Business. "By combining the power of edge computing with private 5G, businesses can develop new revenue-generating services and better customer experiences." "Our 5G MEC technology has a huge potential as it can help boost the adoption of 5G services across the globe," said Jihn-woo Kim, Vice President and Head of Global Business at SKT. "We will make accelerated efforts to enrich the global 5G MEC ecosystem by working closely with Dell Technologies to develop industry-leading technologies and introduce diverse products, and expanding into the software-as-a-service business in partnership with many Korean and overseas companies."

Ericsson (L.M.) Telephone Co. (NASDAQ: ERIC) and UScellular announced on June 22^nd, that they have begun 5G testing at altitude using drone technology. These tests are the first of their kind with UScellular's 5G network and lay the groundwork for future use cases of cellular-connected drones in a variety of industries. "Testing our wireless connections at altitude can set the stage for future connectivity of drones in the air, providing command and control capability along with enabling real-time image and data sharing to be easier, faster and safer," said Narothum Saxena, vice president of technology strategy and architecture at UScellular. "We believe that our network can help drones fly in an optimal way if they have connectivity, and with Ericsson's support, we will continue to drive innovation that can help enhance our customers' wireless experience."

Nokia Corp. (NYSE: NOK) and Proximus announced on June 28^th, that they have successfully enhanced the performance of 5G network slicing in demanding network conditions through the use of radio software-defined networking and radio resource allocation technologies. During a live trial at Proximus' 5G Innovation Lab in Brussels, real-life applications were used to demonstrate how a consistent customer experience can be ensured under congested network conditions. New 5G RAN slicing functionality brings benefits to a wide range of use cases such as Industry 4.0, IoT and enterprise applications such as public safety and drone inspection as well as virtual and augmented reality and cloud gaming. The solution is available now for trials and will be commercially available in Q3 for 5G standalone.

Datadog, Inc. (NASDAQ: DDOG), the monitoring and security platform for cloud applications, announced on February 10^th, it has acquired CoScreen, the collaboration platform for technical teams. This acquisition will bring new capabilities to the Datadog platform that help engineers share their screens and work together during incident and security response, pair programming, prototyping, debugging and other activities in an integrated, joint workspace. "Bringing teams together has always been Datadog's core mission," said Ilan Rabinovitch, Senior Vice President of Product and Community at Datadog. "Adding CoScreen's real-time communication capabilities helps our customers bring distributed teams closer together and move forward with in-product collaboration. The end result is higher developer productivity, faster incident response and reduced mean time to resolution."

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