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Amazon (AMZN) Boosts AWS Portfolio With Lookout for Vision
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Amazon’s (AMZN - Free Report) strong efforts toward expanding cloud compute offerings are the testaments to its customer-oriented focus. Notably, this will help its cloud division Amazon Web Services (“AWS”) to expand presence in the booming cloud market further.
The move to make its new service offering anomaly detection solution — Amazon Lookout for Vision—generally available reflects the same.
Notably, the new service is well-equipped to process several images an hour to detect defects and anomalies in manufactured products.
Using computer vision and Machine Learning (ML) capabilities, including "few-shot learning", the service analyzes images to spot manufacturing and production defects such as cracks, irregular shapes, dents and incorrect color.
Further, Amazon Lookout for Vision maintains high accuracy, with various camera anglesand lighting arising from changes in work environment.
We believe that the latest move is likely to help AWS gain strong traction among industrial and manufacturing customers.
Customer Base to Expand
We note that customers using the new service will have topay on an hourly basis for their actual usage, without any upfront payment.
This along with the above-mentioned benefits is likely to bolster the adoption rate of Amazon Lookout for Vision.
Notably, customers like GE Healthcare, Basler and Dafgards have already shown interest in thenew service.
We believe that the growing customer momentum will continue to drive AWS’s top line. Moreover, strengthening clientele will continue to aid its competitive edge against its peers like Microsoft (MSFT - Free Report) , Alphabet’s (GOOGL - Free Report) Google and Alibaba (BABA - Free Report) .
Per the latest Canalys data, Microsoft Azure, Google Cloud and Alibaba Cloud acquired worldwide cloud market share of 20%, 7% and 6% in fourth-quarter 2020, respectively, while Amazon led with a 32% share.
+1,500% Growth: One of 2021’s Most Exciting Investment Opportunities
In addition to the stocks you read about above, would you like to see Zacks’ top picks to capitalize on the Internet of Things (IoT)? It is one of the fastest-growing technologies in history, with an estimated 77 billion devices to be connected by 2025. That works out to 127 new devices per second.
Zacks has released a special report to help you capitalize on the Internet of Things’s exponential growth. It reveals 4 under-the-radar stocks that could be some of the most profitable holdings in your portfolio in 2021 and beyond.
Image: Bigstock
Amazon (AMZN) Boosts AWS Portfolio With Lookout for Vision
Amazon’s (AMZN - Free Report) strong efforts toward expanding cloud compute offerings are the testaments to its customer-oriented focus. Notably, this will help its cloud division Amazon Web Services (“AWS”) to expand presence in the booming cloud market further.
The move to make its new service offering anomaly detection solution — Amazon Lookout for Vision—generally available reflects the same.
Notably, the new service is well-equipped to process several images an hour to detect defects and anomalies in manufactured products.
Using computer vision and Machine Learning (ML) capabilities, including "few-shot learning", the service analyzes images to spot manufacturing and production defects such as cracks, irregular shapes, dents and incorrect color.
Further, Amazon Lookout for Vision maintains high accuracy, with various camera anglesand lighting arising from changes in work environment.
We believe that the latest move is likely to help AWS gain strong traction among industrial and manufacturing customers.
Customer Base to Expand
We note that customers using the new service will have topay on an hourly basis for their actual usage, without any upfront payment.
This along with the above-mentioned benefits is likely to bolster the adoption rate of Amazon Lookout for Vision.
Notably, customers like GE Healthcare, Basler and Dafgards have already shown interest in thenew service.
We believe that the growing customer momentum will continue to drive AWS’s top line. Moreover, strengthening clientele will continue to aid its competitive edge against its peers like Microsoft (MSFT - Free Report) , Alphabet’s (GOOGL - Free Report) Google and Alibaba (BABA - Free Report) .
Per the latest Canalys data, Microsoft Azure, Google Cloud and Alibaba Cloud acquired worldwide cloud market share of 20%, 7% and 6% in fourth-quarter 2020, respectively, while Amazon led with a 32% share.
Amazon.com, Inc. Revenue (TTM)
Amazon.com, Inc. revenue-ttm | Amazon.com, Inc. Quote
Portfolio Strength
The latest move bolsters the portfolio of AWS services and products.
Apart from Amazon Lookout for Vision, the company’s recent introductions include the cloud-based healthcare service called Amazon HealthLake.
Further, the rollout of nine Amazon SageMaker capabilities, which strengthened the company’s ML-based cloud offerings, remains noteworthy.
Additionally, AWS’s unveiling of five capabilities for Amazon Connect and four new container services is another positive.
We believe that the expanding AWS portfolio will continue to aid Amazon’s dominance in the booming cloud market.
Currently, Amazon carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
+1,500% Growth: One of 2021’s Most Exciting Investment Opportunities
In addition to the stocks you read about above, would you like to see Zacks’ top picks to capitalize on the Internet of Things (IoT)? It is one of the fastest-growing technologies in history, with an estimated 77 billion devices to be connected by 2025. That works out to 127 new devices per second.
Zacks has released a special report to help you capitalize on the Internet of Things’s exponential growth. It reveals 4 under-the-radar stocks that could be some of the most profitable holdings in your portfolio in 2021 and beyond.
Click here to download this report FREE >>