Technology
Tidal Energy Generation Systems Market to grow by USD 0.47 million from 2024-2028, driven by rising demand for renewable electricity and AI-powered market evolution- Technavio
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2 years agoon
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NEW YORK, Oct. 25, 2024 /PRNewswire/ — Report on how AI is driving market transformation – The Global Tidal Energy Generation Systems Market size is estimated to grow by USD 0.47 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 16.61% during the forecast period. Growing demand for electricity from renewable energy sources is driving market growth, with a trend towards integration of AI and ML into tidal energy generation systems. However, high cost of manufacture and maintenance for tidal energy generation systems poses a challenge.Key market players include ABB Ltd., Andritz AG, BioPower Systems Pty Ltd., Blue Energy Canada Inc., Bluewater Energy Services BV, DP Energy, HydroWing, Instream Energy Systems Corp., Nova Innovation Ltd., Ocean Renewable Power Co. Inc., Orbital Marine Power Ltd, Proteus Marine Renewables, QED Naval Limited, SABELLA SA, Simec Atlantis Energy Ltd., Seabased, SeaQurrent, and Verdant Power Inc..
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Forecast period
2024-2028
Base Year
2023
Historic Data
2018 – 2022
Segment Covered
Type (Tidal range devices, Dynamic tidal power, Tidal stream systems, and Others), Application (Utility-scale projects, Microgrid systems, and Off-grid systems), and Geography (Europe, APAC, North America, Middle East and Africa, and South America)
Region Covered
Europe, APAC, North America, Middle East and Africa, and South America
Key companies profiled
ABB Ltd., Andritz AG, BioPower Systems Pty Ltd., Blue Energy Canada Inc., Bluewater Energy Services BV, DP Energy, HydroWing, Instream Energy Systems Corp., Nova Innovation Ltd., Ocean Renewable Power Co. Inc., Orbital Marine Power Ltd, Proteus Marine Renewables, QED Naval Limited, SABELLA SA, Simec Atlantis Energy Ltd., Seabased, SeaQurrent, and Verdant Power Inc.
Key Market Trends Fueling Growth
The integration of artificial intelligence (AI) and machine learning (ML) into tidal energy generation systems is revolutionizing the global tidal energy market. AI and ML technologies are used to enhance the efficiency, reliability, and performance of tidal energy devices. In operation and maintenance, AI algorithms analyze operational data to identify patterns, predict equipment failures, and enable proactive maintenance, reducing downtime and improving reliability. ML techniques develop predictive maintenance models for timely interventions and cost savings. AI-driven control systems optimize power output and equipment longevity by processing real-time data on tidal patterns, current speeds, and device behavior. AI and ML are also used for resource assessment and site selection, identifying optimal locations and predicting power generation potential. Additionally, AI-powered optimization algorithms enhance grid integration by forecasting tidal energy production, managing grid stability, and optimizing energy trading. These advancements are expected to boost tidal energy adoption and market growth.
Tidal energy generation systems are gaining popularity as a renewable power source, harnessing the kinetic energy from tidal currents and tidal lagoons. Two main types exist: tidal barrages using vertical and axial turbines, and tidal stream systems with horizontal axis and vertical axis turbines, plus tidal kites. Orbital Marine Power leads the way with dynamic tidal power. Tidal energy is a valuable addition to renewable energy sources like solar and wind, addressing electricity demand during peak hours and providing base load power. It also offers potential for desalination and reducing greenhouse gas emissions, contributing to energy security and sustainable energy. Ocean energy technologies, including wave energy converters, are complementary, expanding the renewable energy mix and reducing reliance on fossil fuels. Climate change mitigation and carbon emissions reduction are key benefits.
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Market Challenges
The tidal energy generation market faces significant challenges due to the high cost of manufacturing and maintaining tidal energy systems. Tidal energy, as a renewable and sustainable power source, utilizes the kinetic energy of ocean tides to generate electricity. However, the complex design and engineering needed to build systems capable of withstanding harsh marine conditions and efficiently converting tidal forces into electricity drive up manufacturing expenses. The development of infrastructure, including tidal turbines, support structures, electrical components, and grid connections, necessitates specialized materials, technology, and expertise, all contributing to increased manufacturing costs. The need for durable, corrosion-resistant materials, reliable equipment, and advanced control systems further amplifies costs, making it difficult for new players to enter the tidal energy sector. Moreover, the challenging operating conditions in marine environments necessitate regular monitoring, servicing, and repair activities to ensure optimal performance and longevity. Maintenance in offshore and subsea settings requires specialized vessels, equipment, and skilled personnel, adding to the overall operating costs of tidal energy projects. The remote location and logistical complexities of many tidal energy sites escalate maintenance expenses and operational downtime, negatively impacting the cost-effectiveness and reliability of tidal energy generation systems. These factors hinder the widespread adoption and scalability of tidal energy generation systems in the market, posing a significant challenge to the growth of the global tidal energy generation systems market during the forecast period.Tidal energy generation systems tap into the kinetic energy of tidal currents and tidal lagoons, converting it into electricity. Technologies include tidal barrages, horizontal axis turbines, and vertical axis turbines. Challenges include the high capital costs of tidal barrages and the complexity of horizontal and vertical axis turbines. Emerging solutions like tidal kites and dynamic tidal power show promise. Companies like Orbital Marine Power lead the way in tidal power innovation. Renewable energy sources, including tidal energy, are crucial for meeting growing electricity demand and reducing reliance on fossil fuels. Tidal energy can also contribute to desalination and climate change mitigation by providing sustainable energy and reducing greenhouse gas emissions. Ocean energy technologies, including wave energy converters and tidal energy, offer diverse solutions for a carbon-neutral future.
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Segment Overview
This tidal energy generation systems market report extensively covers market segmentation by
Type 1.1 Tidal range devices1.2 Dynamic tidal power1.3 Tidal stream systems1.4 OthersApplication 2.1 Utility-scale projects2.2 Microgrid systems2.3 Off-grid systemsGeography 3.1 Europe3.2 APAC3.3 North America3.4 Middle East and Africa3.5 South America
1.1 Tidal range devices- Tidal energy generation systems convert the power of ocean waves into electricity. These systems consist of turbines placed underwater that rotate when hit by tidal currents. Companies like Siemens Gamesa and Andritz Hydro are key players in this market, supplying turbines and turnkey solutions. The global tidal energy market is expected to grow significantly due to increasing demand for renewable energy sources and technological advancements. Government incentives and partnerships also boost the industry’s growth.
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Research Analysis
Tidal energy and wave energy are forms of ocean energy that harness the power of the tides and ocean waves to generate electricity. Renewable energy sources, including tidal energy, are becoming increasingly important in the global energy landscape as the world transitions away from fossil fuels to reduce greenhouse gas emissions and mitigate climate change. Tidal energy generation systems utilize various technologies such as tidal barrages, horizontal axis turbines, vertical axis turbines, tidal kites, and dynamic tidal power to convert the kinetic energy of tidal currents into electricity. Tidal power can also be used for desalination, providing sustainable water sources in arid regions. The market for tidal energy generation systems is expected to grow significantly due to the increasing demand for sustainable energy, energy security, and the need to reduce carbon emissions. Technologies like axial turbines, crossflow turbines, and tidal lagoons are also gaining popularity in the tidal energy sector. Companies are investing heavily in research and development to improve the efficiency and cost-effectiveness of tidal energy generation systems. Ocean energy, including tidal and wave energy, is a promising source of renewable energy that can contribute significantly to a sustainable and low-carbon future.
Market Research Overview
Tidal energy, a form of ocean energy, is a promising renewable power generation system that converts the kinetic energy of tidal currents into electricity. This sustainable energy source is gaining popularity as a viable alternative to fossil fuels in the context of climate change and increasing greenhouse gas emissions. Wave energy, another ocean energy source, is also making strides in the power generation sector. Together, wave and tidal energy are part of the larger category of ocean energy technologies, which include tidal barrages, wave energy converters, and various types of turbines such as horizontal axis, vertical axis, axial, and crossflow. These systems have the potential to provide electricity for desalination and contribute to energy security, reducing carbon emissions and meeting growing electricity demand. Tidal currents, a constant and predictable energy source, offer dynamic tidal power that can be harnessed through various methods, including tidal lagoons and tidal kites. Orbital Marine Power, a leading company in tidal stream technology, is developing innovative solutions to maximize the potential of tidal energy. The renewable energy sources of tidal and wave energy are set to play a significant role in the future of power generation.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
TypeTidal Range DevicesDynamic Tidal PowerTidal Stream SystemsOthersApplicationUtility-scale ProjectsMicrogrid SystemsOff-grid SystemsGeographyEuropeAPACNorth AmericaMiddle East And AfricaSouth America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio
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RSPO Launches New Guidance to Leverage Sustainable Palm Oil Certification for IFRS® Sustainability Disclosure Standards
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KUALA LUMPUR, Malaysia, July 23, 2026 /PRNewswire/ — The Roundtable on Sustainable Palm Oil (RSPO) has released a guidance document, “Leveraging RSPO Principles and Criteria for IFRS® Sustainability Disclosure Standards”. This new resource supports certified sustainable palm oil producers to align their sustainability practices with the IFRS S1 and IFRS S2 disclosure standards that serve as the global framework for reporting sustainability-related financial information.
As more than 30 jurisdictions, representing around 60% of global GDP, move towards adoption of the IFRS Sustainability Disclosure Standards (IFRS SDS), companies are increasingly required to disclose how sustainability-related risks and opportunities affect their financial position and prospects.1
This resource provides a practical pathway for palm oil producers to respond to these requirements by leveraging their existing compliance with the RSPO Principles and Criteria (P&C), without duplicating efforts or creating parallel systems.
Informing investor-relevant disclosures: A four-step approach
Certification and the IFRS SDS serve different purposes. This guidance, developed with support from PwC Malaysia, provides a practical bridge between operational sustainability practices and financial disclosure expectations by helping members translate certification-related topics, metrics, and evidence to inform investor-relevant disclosures.
It sets out a four-step approach to IFRS SDS-aligned reporting, guiding RSPO Members on applicability, reporting boundaries, identification of sustainability-related risks and opportunities, and links to financial performance. It also includes seven practical examples, illustrating how the RSPO P&C requirements and implementation evidence can inform disclosures across key sustainability topics, from ethical conduct and legal compliance to environmental protection and worker health and safety.
Beyond growers, the guidance document also supports financial institutions by helping banks, insurers, and investors understand how palm oil sustainability issues, such as labour disputes and traceability gaps, can translate into financial risks, impacts, and opportunities, enabling clearer risk profiling and more informed financing decisions.
Joseph D’ Cruz, RSPO Chief Executive Officer, said: “As sustainability reporting becomes an integral pillar of financial performance, this guidance bridges certification and disclosure, providing RSPO members with a practical framework to demonstrate sustainability performance in ways that resonate with global capital markets. In line with the growing importance of sustainability disclosures in financing and investment decision-making processes, this guidance illustrates how RSPO Principles and Criteria practices can complement an organisation’s strategy and risk assessment processes.”
Andrew Chan, Partner, Sustainability Leader at PwC Malaysia, said: “This guidance responds to the broader shift towards measuring sustainability through a financial lens, with the adoption of the IFRS Sustainability Disclosure Standards (IFRS S1 and IFRS S2). For RSPO growers, this creates an opportunity to demonstrate how sustainability practices contribute to business resilience as well as value creation — building investor confidence for the long term.”
Importantly, the guidance also reflects RSPO’s longer term interest in progressively strengthening linkages with sustainability disclosure frameworks. As disclosure expectations continue to evolve, RSPO intends to further explore how certification-related data metrics and assurance processes can support broader and more integrated sustainability disclosures in the future.
The Guidance Document can be downloaded here.
For more information, visit www.rspo.org
About RSPO:
The Roundtable on Sustainable Palm Oil (RSPO) is a global partnership to make palm oil sustainable. Formed in 2004, the RSPO is a multi-stakeholder non-profit organisation that unites members from across the palm oil value chain, including oil palm producers, palm oil processors and traders, consumer goods manufacturers, retailers, banks and investors, environmental or nature conservation non-governmental organisations (NGOs), and social or developmental NGOs.
As a partnership for progress and positive impact, the RSPO facilitates global change to make the production and consumption of palm oil sustainable. To inspire change, we communicate the environmental and social benefits. To make progress, we catalyse collaboration. To provide assurance, we set the standards of certification.
The RSPO is registered as an international association in Zurich, Switzerland, with main offices in Malaysia and Indonesia, and offices in China, Colombia, Netherlands, United Kingdom and the United States.
About PwC:
At PwC, we help clients build trust and reinvent so they can turn complexity into competitive advantage. We’re a tech-forward, people-empowered network with more than 364,000 people in 136 countries and 137 territories. Across audit and assurance, tax and legal, deals and consulting, we help clients build, accelerate, and sustain momentum. Find out more at www.pwc.com
1
IFRS Foundation, ISSB Podcast February 2025
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SOURCE Roundtable On Sustainable Palm Oil
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Nordic Capital announces agreement to sell ArisGlobal to Dassault Systèmes, following its transformation into a scaled and AI-enabled life sciences platform
Published
35 minutes agoon
July 23, 2026By
WALTHAM, Mass., 23 July 2026 /PRNewswire/ — Nordic Capital today announced that it has entered into a definitive agreement to sell ArisGlobal, a leading provider of software to the life sciences industry, to Dassault Systèmes (Euronext Paris: FR0014003TT8) (Paris: DSY.PA). The transaction represents a full exit for Nordic Capital and marks the successful culmination of a partnership that has transformed ArisGlobal into a scaled, cloud-native and AI-enabled platform serving more than 200 life sciences companies, CROs and government health authorities worldwide.
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“Nordic Capital invested in ArisGlobal because the business had strong fundamentals, a loyal blue-chip client base and significant potential to modernise its technology and scale its commercial reach. Working closely with Aman and his team, Nordic Capital has supported the company’s transformation into a leading cloud-native platform for the life sciences industry with differentiated AI-enabled capabilities and a strengthened market position. Nordic Capital is proud of what has been achieved together with management and looks forward to seeing the company continue to grow under Dassault Systèmes ownership,” said Daniel Berglund, Partner and Head of Healthcare, Nordic Capital Advisors.
Nordic Capital first invested in ArisGlobal in 2019, partnering with the founding family and management team to pursue an ambitious development strategy. In 2021, Nordic Capital made a further investment in the company, reflecting its conviction in ArisGlobal’s growth potential and the progress achieved since the original partnership began. Throughout the ownership period, Nordic Capital worked closely with management to accelerate the SaaS transition, professionalise the go-to-market organisation, broaden the product offering and strengthen the leadership team.
The migration to a modern, cloud-native architecture created the foundation for ArisGlobal to become an early leader in the application of AI to drug safety. A key milestone was the development and launch of NavaX, ArisGlobal’s generative AI solution for safety case processing, which automates and accelerates core pharmacovigilance workflows and has been adopted by a number of the world’s leading pharmaceutical companies. NavaX has further differentiated ArisGlobal’s offering and marked an important step in the Company’s evolution into a broader, AI-enabled safety and regulatory software platform.
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Alongside its technology transformation, ArisGlobal strengthened its management team and commercial organisation, while two strategic acquisitions broadened the Company’s platform capabilities. Today, ArisGlobal serves more than 200 enterprise customers, including half of the world’s top 50 biopharma companies, processes more than 12 million safety cases annually and is expected to generate approximately USD 175 million in revenue in 2026. As rising regulatory complexity and increasing volumes of adverse event reporting continue to drive demand for advanced life sciences software, ArisGlobal is well positioned for future growth through solutions that automate compliance workflows, reduce manual processing and enable organisations to manage regulatory risk more effectively.
The transaction brings together ArisGlobal’s leadership in AI-enabled safety and regulatory software with Dassault Systèmes’ capabilities across research, clinical development and manufacturing. Nordic Capital believes the combination represents a highly compelling strategic fit, pairing complementary capabilities to create a broader, end-to-end offering across the life sciences value chain. ArisGlobal will also benefit from Dassault Systèmes’ global scale, customer reach and investment capacity, providing a strong platform for its next phase of innovation and growth.
The transaction is subject to customary regulatory approvals and is expected to close in the second half of 2026.
Evercore and Jefferies LLC acted as financial advisors to ArisGlobal and Kirkland & Ellis acted as legal advisor to ArisGlobal.
Media contacts:
Nordic Capital
Katarina Janerud
Communications Manager, Nordic Capital Advisors
+46 8 440 50 50
katarina.janerud@nordiccapital.com
ArisGlobal
Morgan Scott
Vice President, Marketing & Communications and Chief of Staff
mscott@arisglobal.com
About ArisGlobal
ArisGlobal is a leading provider of software to the life sciences industry. Its LifeSphere® platform delivers integrated regulatory, safety, and quality solutions to more than 200 life sciences companies, CROs and government health authorities worldwide. Founded in 1989 and headquartered in Waltham, Massachusetts, ArisGlobal combines deep domain expertise with advanced technology to help clients improve compliance, accelerate development cycles and manage regulatory complexity at global scale. For more information, visit www.arisglobal.com.
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Nordic Capital is a leading international private equity investor and subsector specialist dedicated to building stronger, more resilient businesses through transformative, long-term growth in partnership with management teams. With over 35 years of experience, Nordic Capital currently manages approximately EUR 39 billion in assets, investing in middle-market companies across Northern Europe and North America. Rooted in its Nordic heritage and values, it combines global reach with local presence through dedicated sector investment advisory teams, bringing deep expertise across its core sectors: Healthcare, Technology & Payments, Financial Services, and Services & Industrial Tech. Through active ownership, strong operational capabilities, a global network of experts and technology-enabled transformation, Nordic Capital helps companies scale, innovate and become sustainable leaders. For more information, visit www.nordiccapital.com or connect on LinkedIn.
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Cognizant and Gulf Edge Announce Strategic Partnership to Accelerate Enterprise AI Adoption in Southeast Asia
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Partnership combines Cognizant’s global AI engineering capabilities with Gulf Edge’s sovereign digital infrastructure to capture the region’s growing demand for secure, scalable AI solutions.
BANGKOK, July 23, 2026 /PRNewswire/ — Cognizant (Nasdaq: CTSH), a leading AI builder and global technology services provider, and Gulf Edge Company Limited, the digital infrastructure arm of Thai energy and infrastructure conglomerate Gulf Development Public Company Limited (GULF) or Gulf Group, today announced a landmark strategic partnership. The alliance is designed to accelerate enterprise AI adoption and establish a resilient, AI-native digital economy in Thailand and the broader region.
As artificial intelligence (AI) rapidly reshapes industries, economies, and societies worldwide, the partnership aims to establish the foundational ecosystem needed to enable Thailand’s next phase of digital transformation. By combining trusted sovereign digital infrastructure with world-class AI engineering and enterprise transformation capabilities, Gulf Edge and Cognizant will help organizations deploy AI securely, responsibly, and at scale.
The collaboration brings together Gulf Edge’s leadership in digital infrastructure, energy, cloud, and strategic relationships across Thailand’s most important industries with Cognizant’s global expertise in AI, digital engineering, cloud modernization, data, and intelligent operations. Together, the two companies will deliver end-to-end AI capabilities spanning infrastructure, AI platforms, enterprise solutions, systems integration, and managed services.
The partnership will initially focus on accelerating AI adoption across key sectors including banking and financial services, energy and utilities, healthcare, telecommunications, manufacturing, and the public sector. Through industry-specific AI solutions, organizations will be able to improve operational efficiency, enhance customer experience, strengthen decision-making, automate complex business processes, and unlock new opportunities for innovation and growth.
Beyond enterprise transformation, Gulf Edge and Cognizant share a broader ambition of strengthening Thailand’s position as a regional AI hub. The partnership is expected to attract global technology expertise, stimulate investment in advanced digital capabilities, and create high-value employment opportunities across AI engineering, data science, cloud infrastructure, cybersecurity, and digital transformation. The two companies also plan to collaborate with universities, research institutions, technology partners, and public-sector organizations to develop AI talent, promote responsible AI adoption, and foster a sustainable innovation ecosystem for the country.
Mr. Sarath Ratanavadi, Chief Executive Officer, Gulf Development Public Company Limited, said, “Our partnership with Cognizant marks an important milestone in our vision of helping Thailand become an AI-native economy. By combining Gulf Edge’s strengths in digital infrastructure, energy, cloud, and deep understanding of the Thai market with Cognizant’s global expertise in enterprise AI, digital engineering, and transformation services, we are creating a comprehensive platform that enables organizations to adopt AI with confidence and generate measurable business outcomes. Together, we will develop secure, resilient, and future-ready sovereign digital infrastructure while delivering industry-specific AI solutions tailored to the needs of Thai enterprises and public institutions. We believe AI has the potential to transform every sector, creating new opportunities for productivity, innovation, and sustainable economic growth.”
Mr. Ganesh Ayyar, President of Asia Pacific & Japan (APJ), Cognizant, said, “As Thailand works toward its ambition of becoming an AI-native economy, we see this partnership as a meaningful way to help contribute to that vision, not just through the projects we deliver, but by building lasting AI and technology capability inside the country. With Gulf Edge’s market reach and Cognizant’s AI Builder strategy and global delivery capability, we are positioned to deliver transformative outcomes for Thai enterprises across every major sector.”
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