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The unified communication as a service market is expected to reach USD 87.20 Billion by 2026

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New York, Aug. 18, 2021 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Unified Communication as a Service (UCaaS) Market – Global Outlook & Forecast 2021-2026” – https://www.reportlinker.com/p06129708/?utm_source=GNW
20 Billion by 2026, growing at a CAGR of 19.25%.

The global UCaaS market is increasingly gaining momentum with the growing complexity in the organizations, increasing competition, rising focus on improving margins by minimizing cost and increasing employee satisfaction by providing mobility and flexibility. The emerging trends such as artificial intelligence, development of new technologies, rising awareness about cloud and its benefits, maturing business models, and Bring Your Own Device (BYOD) initiatives are projected to support the market growth. The UCaaS finds its application across all industries such as healthcare, telecom & IT, hospitality, healthcare, logistics, and others, and across all job functions. North America and Europe are leading the unified communication as a service market globally. During the COVID-19 period, the number of UCaaS subscribers grew significantly worldwide. In 2020, the number of UCaaS subscribers reached more than 15 million.

The following factors are likely to contribute to the growth of the Unified Communication as a service market during the forecast period:
• Increasing penetration of 5G network and SD-WAN: Lack of proper connectivity infrastructure in several countries prevents organizations from adopting cloud-based communications.
• Growing trend towards BYOD (Bring Your Own Device): The enterprises across countries are increasingly focusing on productivity and providing employees complete mobility to work at their convenience.
• Advancement in AI-based technology: Artificial Intelligence integration with UCaaS provides various benefits to businesses in terms of automation, minimizing manual work, and enhancing the productivity of organizations.

Key Highlights
• The global COVID-19 pandemic has positively affected the unified communication as a service market and provided many growth opportunities to UCaaS vendors worldwide, resulting in a more than 85% increase in UCaaS sales worldwide.
• High connectivity plays a vital role in cloud-based communication. The increasing penetration of 5G networks in several countries worldwide is expected to boost the adoption of 5G networks across various organizations for better productivity. This is likely to grow the demand for UCaaS in the market.
• The culture of Bring Your Own Devices (BYOD) is increasingly becoming popular in various organizations that are encouraging enterprises to embrace the unified communication solution. In today’s competitive scenario, organizations are required to be highly flexible and provide mobility to employees to be productive and be ahead of the competitors.

Segmentation Analysis

• Telephony holds the highest share of 41.73% in the UCaaS market based on components. This is because of the huge importance attached to connecting with individuals at any time and at any place over call. Cloud-based telephony also helps in saving costs related to on-site PBX systems, which require installation and maintenance services. These reasons are likely to increase demand for telephony cloud services during the forecast period.
• Large enterprises are dominating the UCaaS market share, holding 61.45%. When it comes to SMEs, traveling for various business purposes frequently gets costly, making video conferencing the best alternative.
• The dependence on multiple communication systems remains high in the BFSI sector for increased customer engagement and better support.
• The retail industry is no longer limited to offline channels as many of the masses prefer online shopping. As a result, there is a need for customer service throughout the day. UCaaS provides an omnichannel initiative and enables the customer support team to handle queries through various mediums.

By Category
• Large Enterprises
• Small & Medium Enterprises

By Component
• Telephony
• Conferencing
• Unified Messaging

By Industry Vertical
• Telecom & IT
• Healthcare
• Banking, Financial Services & Insurance
• Retail & Consumer Goods
• Education
• Transportation & Logistics
• Travel & Hospitality

Geographical Analysis
• In 2020, North America dominated the unified communication as a service market accounting for 31.71% share by revenue in the global market. Highly skilled labor, a high technology-driven population, and many enterprises are the significant elements that have led to such huge demand in the region.
• Europe accounted for the second-largest share of 27.30% by revenue in 2020 due to the high penetration of the hospitality sector.
• The primary reason for the growth in demand in the APAC region is the presence of small-scale industries whose focus is to make their business process cost-efficient.

By Geography
• Europe
• APAC
• North America
• Latin America
• Middle East & Africa

Vendor Analysis
• The key leading vendors in the global UCaaS market include RingCentral, Mitel, 8×8, LogMeIn, Cisco, Fuze, and more. Microsoft and Zoom lagged in UCaaS solution in 2019 but witnessed a significant growth rate in 2020 and crossed more than a million subscribers.
• The majority of the prominent UCaaS vendors are concentrated in the United States, while few are in Europe. The competition between vendors exists based on product development, security, services, and pricing. Vendors are using new business models and focusing on developing the portfolio of their establishments to drive growth.

Prominent Vendors
• 8×8
• Cisco
• Google
• LogMeIn
• Microsoft
• Mitel
• RingCentral
• Vonage

Other Prominent Vendors
• Alcatel Lucent Enterprise
• Cloud Connect
• Dialpad
• Digerati Technologies
• Fuze
• Intrado
• Masergy
• Nextiva
• NTT Communications
• Orange SA
• Revation Systems
• Starblue
• Verizon
• Windstream
• Zoom

KEY QUESTIONS ANSWERED:
1. How big is the unified communication as a service (UcaaS) Market?
2. What are the market opportunities and latest trends in unified communication as a service market?
3. What is the usage of unified communication as a service in different industries?
4. What is the impact of COVID-19 in the unified communication as a service market?
5. What are the various vendor distribution channels for unified communication as a service?
Read the full report: https://www.reportlinker.com/p06129708/?utm_source=GNW

About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need – instantly, in one place.

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GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Artificial Intelligence

Invoca Wins CX Today Award for Best Conversational Intelligence Solution of 2024; Launches European Data Centre and Adds UK Sales Leader

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CX Today recognises Invoca as the foremost visionary in the Conversational Intelligence category. Additionally, expands its European presence with a new Data Centre and the appointment of Duncan MacPherson as UK Director of Sales.
LONDON, March 28, 2024 /PRNewswire/ — Invoca, the leading revenue execution platform for revenue teams, has won the CX Today Award for ‘Best Conversational Intelligence Solution’ of 2024. CX Today, the leading international news publication honouring excellence in CX technology, hosted the CX Awards to honour excellence in CX leadership, technology innovation, and industry success.

“Invoca’s exceptional work in conversational intelligence has helped push the category forward, and we are thrilled to see their accomplishments acknowledged at CX Awards 2024,” said Charlie Mitchell, Senior Editor at CX Today and host of the awards.
The award recognises Invoca’s strength in empowering revenue teams across marketing, contact centre sales, and customer experience to enhance buying experiences, increase high-value leads, and boost revenue. For businesses that acquire customers over the phone, Invoca enables these digital marketing and contact centre teams to collaborate to drive revenue growth. Invoca stands out for capturing deep insights from consumer calls and digital interactions and ingesting revenue driven by calls and other metadata from CRM and contact centre solutions, making Invoca the source of truth for consumer engagements.
“We’re thrilled to be named the Best Conversational Intelligence Solution of 2024 by CX Today as we highlight our longstanding vision to help brands acquire customers and grow their revenue,” said Gregg Johnson, CEO of Invoca. “As AI pioneers in this space, having first introduced our broad base of patented AI technologies in 2015, artificial intelligence and machine learning are core to helping companies improve the customer experience and connect the buyer journey.”
The CX Awards’ judging panel, including Dan Miller, Lead Analyst at Opus Research, reviewed hundreds of applications for their organisation’s ability to improve overall customer experience through innovation and high-impact features.
“Invoca continues to demonstrate that they are a clear leader in conversational intelligence AI. We recognised Invoca for their ability to employ a sophisticated blend of AI technologies — including patented machine learning, generative AI, voice biometrics, and deep learning neural networks, to drive revenue,” said Dan Miller, CX Awards judge and Lead Analyst at Opus Research.
Invoca Launches New European Platform and Data Centre Amid U.K. Sales Leadership Expansion
Invoca continues to reinforce its commitment to maintaining data excellence with unwavering reliability and strict adherence to security standards. Protecting customer data privacy remains a top priority, particularly given the heightened concerns surrounding security and privacy. Invoca’s new European platform and localised data centres support its growing customer base by ensuring all customers can adhere to the highest level of enterprise-grade data privacy, and GDPR compliance standards. Invoca’s powerful EU-based infrastructure enables its customers to recreate the same Invoca experience using the full feature suite while maintaining the highest standards of quality.
Invoca has also welcomed Duncan MacPherson as UK Director of Sales. MacPherson brings extensive experience with large companies and start-ups selling customer engagement solutions. This is part of an overall expansion in the UK market, which includes hiring a localised sales and customer success team, sales development, and marketing support.
More Information:
See the results you can get with Invoca’s award-winning conversation intelligence: https://www.invoca.com/customersInvoca’s GDPR Compliance: Everything You Need to Know: https://www.invoca.com/blog/invocas-gdpr-compliance-everything-you-need-to-knowWatch the CX Today Awards winners revealed on demand: www.cxtoday.com/cxawardsJoin Invoca’s talented team today: https://www.invoca.com/company/careersAbout InvocaInvoca is a revenue execution platform that connects marketing and sales teams to help them track and optimise the buying journey to drive more revenue. By using a comprehensive revenue execution platform with deep integrations with leading technology platforms, revenue teams can better connect their paid media investments directly to revenue, improve digital engagement, and deliver the best buyer experiences to drive more sales. With Invoca, top consumer brands, including AutoNation, DIRECTV, Mayo Clinic, Mutual of Omaha, and Verizon, experience unbelievable results powered by undeniable data. Invoca has raised $184M from leading venture capitalists, including Upfront Ventures, Accel, Silver Lake Waterman, H.I.G. Growth Partners, and Salesforce Ventures. For more information, visit www.invoca.com.
About CX AwardsHosted by CX Today, the awards ceremony has become the beacon of recognition for companies and professionals pushing the envelope in the CX technology sphere.
The CX Awards 2024 is here for its fourth year and is bigger and better than ever before! Winners of the 2023 awards included Vonage, Calabrio, and UJET and more. Then, the ceremony included exclusive streams from our people winners, Jay Patel from Webex and Kimberley Wood from Ultimate. Yet, this year’s event featured many more CX leaders who shared their unique takes on the space.
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ASC Achieves Certification for Webex Calling

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ASC announces compliance recording and AI-driven analytics tool for Webex Calling
HÖSBACH, Germany, March 28, 2024 /PRNewswire/ — ASC Technologies, a leading provider of comprehensive recording and analytics tools, announces its successful certification for Webex Calling with Webex by Cisco, a leading provider of collaboration technologies powering hybrid work and customer experience. This certification distinguishes ASC as one of the few global vendors who are authorized to provide record capabilities for Webex Calling communications. This capability is essential for organizations in regulated industries that must adhere to strict compliance standards.

A key benefit of the ASC solution is the simple and fast configuration in the Webex Control Hub, which ensures a high level of user-friendliness. In addition, ASC enables the migration of on-premise solutions to the cloud by seamlessly transferring recordings to the cloud environment. This step enables organizations to accelerate their digital transformation and take advantage of cloud-based services. In addition, AI-driven analytics, powered by ASC’s solutions, help organizations gain a comprehensive view of their communications, enrich customer relationships, and streamline compliance and risk management processes.
“As a stable company that has been established in the market for 60 years, we see the certification for Webex Calling not only as a confirmation of our technological expertise, but also as a promise to our customers and partners,” says Dr. Gerald Kromer, CEO of ASC. “We are committed to providing innovative and reliable solutions that meet the demands of today’s communications technologies while ensuring our customers’ compliance requirements.”
This certification is a further milestone in ASC’s successful partnership with Cisco, which has already existed for 20 years. ASC will be exhibiting at Enterprise Connect in Gaylord Palms, and Cisco Live in Las Vegas, showcasing its innovative recording and analytics solutions and demonstrating the results of its collaboration with Cisco. These events offer a glimpse into how ASC’s solutions drive efficiency and insight.
About ASC
ASC is a worldwide leading provider of software and cloud solutions in the field of omni-channel recording, quality management, and analytics. Among our target groups are all companies that record their communications, especially financial service providers, contact centers, and public safety organizations. We offer solutions for recording as well as AI-based analysis and evaluation of all communications – with full flexibility as a cloud service, on-premise or as a hybrid solution. Headquartered in Germany with subsidiaries in 14 countries and experienced system integration partners in over 60 countries, ASC is the #1 Europe-based player in its industry.
About Webex by Cisco
Webex is a leading provider of cloud-based collaboration solutions which includes video meetings, calling, messaging, events, customer experience solutions like contact center and purpose-built collaboration devices. At Webex, we start with people and their experiences first. This focus on delivering inclusive collaboration experiences fuels our innovation, which leverages AI and Machine Learning, to remove the barriers of geography, language, personality, and familiarity with technology. Our solutions are underpinned with security and privacy by design. We work with the world’s leading business and productivity apps – delivered through a single application and interface. Learn more at webex.com.
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WSPN and MathWallet Jointly Launch StableWallet, Pioneering AA Wallet for Web3

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TORTOLA, British Virgin Islands, March 28, 2024 /PRNewswire/ — WSPN, a global digital payments leader providing transparent, fast, and efficient solutions leveraging distributed ledger technology, has partnered with leading Web3 wallet provider MathWallet to launch StableWallet – a groundbreaking new account abstraction (AA) wallet that represents a major advancement in the Web3 space. StableWallet provides enhanced security, convenience, and flexibility for managing digital assets across multiple blockchains.

“Through our partnership with MathWallet, we are proud to introduce StableWallet, leveraging pioneering AA technology to transform digital asset management,” said Raymond Yuan, Founder of WSPN. “StableWallet exemplifies our commitment to driving innovation in digital payments and the Web3 ecosystem.”
Account abstraction (AA) wallets represent a significant leap forward in the Web3 ecosystem, blurring the lines between traditional private key wallets and smart contract-based accounts. By integrating both functionalities, AA wallets enable users to define their wallets through programmable smart contracts, unlocking a realm of advanced features and customization options.
Leveraging the transformative power of Account Abstraction, StableWallet stands at the forefront of security innovation, offering unmatched protection through advanced programmable recovery mechanisms and robust multi-signature controls. Seamlessly blending security with convenience, StableWallet ensures a user-centric experience by automating gas fees, simplifying transactions, and providing limitless customization possibilities through deep integration of programmable smart contracts.
Beyond its pioneering security measures, StableWallet serves as a pivotal link between the Ethereum and Polygon ecosystems, facilitating effortless asset management across diverse chains through a unified cross-chain interface. At its debut, StableWallet boasts essential features such as native support for Ethereum and Polygon networks, flexibility in fee token options with WUSD and USDT, and the capacity for multi-chain crypto smart contract wallet functionalities.
“We are thrilled to partner with WSPN and jointly unveil StableWallet’s powerful capabilities,” said Eric, CTO of MathWallet. “By combining cutting-edge account abstraction technology with robust security features and cross-chain compatibility, StableWallet empowers users to explore the decentralized realm with unparalleled confidence.”
Looking ahead, StableWallet has an ambitious roadmap to roll out new capabilities that will further elevate the user experience. Upcoming features include daily free transfers, batch transactions with one-click execution, enterprise multi-signature smart wallets, and integration with collaboration platforms, etc. These additions, among others, will continuously expand StableWallet’s functionality to meet evolving user needs in the Web3 space.
Whether for a seasoned cryptocurrency enthusiast or a beginner to the blockchain world, StableWallet offers a powerful tool to revolutionize user experience of digital asset management. Stay tuned for upcoming feature releases and network expansions as WSPN and MathWallet continue to push the boundaries of Web3 technology.
About WSPN
WSPN is a global digital payments company that provides transparent, fast, and efficient digital payment solutions leveraging the latest technological advancements of Distributed Ledger Technology (“DLT”). We are dedicated to shaping seamless digital payment solutions for our global partners worldwide at the frontier of future digital payments and financial inclusion.
Worldwide USD (‘WUSD’), WSPN’s flagship USD stablecoin, is a fiat-collateralized stablecoin that is pegged to the U.S. Dollar at a 1:1 ratio. Dedicated to optimizing payment solutions for web3 users, WUSD empowers the real economy through secure, transparent, and licensed digital payments, spanning stablecoins, exchanges and cards, all geared for global expansion.
Learn more: www.wspn.io  | Twitter | LinkedIn 
About MathWallet
MathWallet is the Multichain Wallet for Web3 that enables token storage of over 150 chains including BTC, ETH, Polkadot, Cosmos, Filecoin, Solana, BNBChain, etc, supports cross-chain token bridges and multi-chain dApp store. Our investors include Fenbushi Capital, Binance Labs, Fundamental Labs, Multicoin Capital, NGC Ventures, Amber Group, 6Eagle Capital.
Visit mathwallet.org for more information.
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