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Cloud-Based ITSM Global Market Report 2022

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New York, Sept. 14, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Cloud-Based ITSM Global Market Report 2022” – https://www.reportlinker.com/p06319488/?utm_source=GNW

The global cloud-based ITSM market is expected to grow from $6.65 billion in 2021 to $7.83 billion in 2022 at a compound annual growth rate (CAGR) of 17.85%. The cloud-based ITSM market is expected to reach $15.38 billion in 2026 at a compound annual growth rate (CAGR) of 18.37%.

The cloud-based ITSM market consists of sales of cloud-based IT service management technology and related services by entities (organizations, sole traders, and partnerships) that refer to a cloud hosting system that provides access to a remote working environment.This cloud hosting allows quick and easy visualization of process workflows and gives firms more freedom and visibility on the web.

The purpose of the ITSM platform is to ensure that the IT department lowers its operational cost and increases the profit and work flexibility in their businesses.

The main components of the cloud-based ITSM market are solutions and services.The services segment focuses on the entire ITSM process such as networks, the internet, servers, software, services, applications and network, and endpoint hardware.

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These solutions and services are provided to SMEs and large enterprises in industries ranging from IT and telecommunication, BFSI, healthcare, manufacturing, retail, and education.

North America was the largest region in the cloud-based ISTM market in 2021.Asia Pacific is expected to be the fastest-growing region in the forecast period.

The regions covered in the cloud-based ISTM market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The cloud-based ITSM market research report is one of a series of new reports that provides cloud-based ITSM market statistics, including cloud-based ITSM industry global market size, regional shares, competitors with a cloud-based ITSM market share, detailed cloud-based ITSM market segments, market trends and opportunities, and any further data you may need to thrive in the cloud-based ITSM industry. This cloud-based ITSM market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The increasing adoption of cloud-based applications will propel the growth of the cloud-based ITSM market in the forecasted period.Cloud adoption is a business strategy aiming to improve internet-based database capabilities’ scalability while lowering costs and risks.

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Organizations use cloud computing, or remote computers hosted on the Internet, to store, manage, and process essential data.For instance, in November 2021, a 2021 Cloud Adoption Survey published on O’Reilly Media, a US-based learning company, showed that COVID-19 accelerated the cloud adoption application.

According to the O’Reilly survey, cloud adoption is rapidly increasing across industries, with 90% of businesses using cloud computing.This is an increase from last year’s poll (2020), which found that 88% of respondents were using the cloud, demonstrating that cloud use is accelerating.

Therefore the adoption of cloud-based applications will drive the cloud-based ITSM market.

Technological innovation is a key trend gaining popularity in the cloud-based ITSM market.Major companies operating in the cloud-based ITSM market are focused on providing technologically-advanced solutions and platforms to strengthen their market position.

These companies are implementing next-generation cloud-based ITSM technologies into their services and platform, such as virtualization, grid computing, service-oriented architecture, artificial intelligence, mining, cloud computing, automated cloud orchestration, and others.For instance, in April 2020, ServiceNow, a US-based software company, launched the Cloud Call Center solution, an innovative AI-powered “Contact-Center-as-a-Service” (CCaaS) solution for IT support that increases efficiencies.

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This AI-powered CCaaS will help save expenses while improving the caller and agent experience by automating support chores.

In March 2021, IFS AB, a Sweden-based enterprise software company, acquired Axios Systems for an undisclosed amount.Through this acquisition, IFS will strengthen its position in service management by adding enterprise service management functionalities.

Axios System is a UK-based provider of service desk, IT service management, and IT asset management software.

The countries covered in the cloud-based ISTM market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
Read the full report: https://www.reportlinker.com/p06319488/?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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Artificial Intelligence

ZTE highlights building solid foundations with full-stack intelligent computing solution at MWC Shanghai 2024

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SHANGHAI, June 26, 2024 /PRNewswire/ — ZTE Corporation (0763.HK / 000063.SZ), a global leading provider of integrated information and communication technology solutions, will present innovative solutions and success cases in connectivity, computing power, industrial digitalization, and terminal devices at MWC Shanghai 2024, committed to building solid foundations with its full-stack and full-scenario intelligent computing solution.

In addition to exhibitions, ZTE will participate in various forums, sharing insights on trending topics, including AI, 5G, digitalization, etc. Meanwhile, the company will be hosting a series of launch events, showcasing its AI-powered eyewear-free 3D products and the Nebula Telecom Large Model.
Adhering to its “connectivity + computing” strategy, ZTE aims to create a dynamic ecosystem with industry partners, emphasizing openness and decoupling. Through continuous innovation, ZTE seeks to unfold an intelligent future.
Computing Power: Full-Stack Intelligent Computing as Efficient Foundation
ZTE provides a full-stack and full-scenario intelligent computing solution involving computing power, networks, capabilities, intelligence, and applications. With a full series of servers, high-performance storage products, lossless networks, and green data centers, ZTE has created a robust engine for diverse intelligent computing centers.
Connectivity: A New Era of 10Gbps Experience
Together with industry partners, ZTE continues to explore innovations in 5G-A technologies across different scenarios and industries, and empowers diversified new B2B and B2C services based on 10Gbps+ experience. Meanwhile, ZTE is also leading in global OTN technologies, and actively driving the evolution of all-optical connectivity, building 10Gbps networks for cities, and empowering smart life based on intelligent computing.
Industry: Phygital Convergence for Innovative Development
ZTE proposes the solution of “intelligent computing infrastructure + Digital Nebula,” facilitating phygital innovation and boost productivity in the intelligent era. ZTE has developed hundreds of exemplary projects in key sectors and ZTE Digital Nebula 3.0 has become the “super brain” of industrial digitalization, enabling customers and industry partners to foster a sustainable and intelligent ecosystem.
ZTE Mobile Devices: AI Full-Scenario Intelligent Ecosystem 3.0
With “AI for All” product strategy, ZTE has launched a full range of AI devices, including smartphones, tablets, laptops, PCs, and mobile internet products, dedicated to building AI Full-Scenario Intelligent Ecosystem 3.0. Emerging as a pioneer in cloud PCs, ZTE possesses a global user base of over 3 million.
For more information about ZTE’s highlights at MWC Shanghai 2024, please visit: https://www.zte.com.cn/global/about/news/zte-highlights-building-solid-foundations-with-full-stack-intelligent-computing-solution-at-mwc-shanghai-2024.html
MEDIA INQUIRIES:
Email: [email protected]

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Artificial Intelligence

Comviva named a Visionary in the 2024 Gartner® Magic Quadrant™ for AI in CSP Customer and Business Operations Report

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NEW DELHI, June 26, 2024 /PRNewswire/ — Comviva, the global leader in customer experience and data monetization solutions, today announced that it has been named a Visionary in the 2024 Gartner Magic Quadrant for AI in CSPs Customer and Business Operations report.

Gartner defines the market of AI in communications service provider (CSP) customer and business operations as commercial off-the-shelf (COTS) products. They are either capabilities embedded in CSP-specific operational technology (OT) applications (such as channels, CRM and other business support system [BSS] applications) or industry-agnostic horizontal applications delivering AI/machine learning (ML)-based customer and business operations to CSPs. CSP customer and business operations refer to marketing, sales, customer acquisition, customer journey, billing and revenue management, revenue assurance, and related risk management. The scope of AI products covers data readiness, life cycle management of algorithms and their application to CSP customer and business operations.
Comviva’s vision is to revolutionize the telecommunications industry by harnessing the transformative power of AI and Generative AI. With AI use cases across its MobiLytix™ and BlueMarble solutions, Comviva is enabling businesses to create, manage, and deliver real-time personalization, contextualized customer experiences, and intelligence-driven commerce at scale. Comviva has been noted for its strength in content creation, natural language generation, decision intelligence and machine learning.
“To thrive in today’s digital economy, businesses must accelerate the adoption of AI and related digital technologies. Comviva’s greatest strength has been our intelligent platforms that deliver personalized experiences and engagement across the customer journey,” said Rajesh Chandiramani, CEO at Comviva. “We are excited by this recognition as we believe that this affirms our strategic direction and leadership in revolutionizing telecommunications with AI. Comviva’s strong position in the quadrant validates our commitment and progress toward leveraging next-gen technologies in our solutions to deliver exceptional customer experiences.”
Comviva integrates state-of-the-art AI technologies across its comprehensive product portfolio, driving innovation, enhancing customer experiences, and optimizing business operations for Communications Service Providers (CSPs) around the world.
Source: Gartner Magic Quadrant for AI in CSP Customer and Business Operations, by Pulkit Pandey, Amresh Nandan, Peter Liu, 4 June 2024.
GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally, MAGIC QUADRANT is a registered trademark of Gartner, Inc. and/or its affiliates and are used herein with permission. All rights reserved.
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Sundeep Mehta, +91()9910030732, [email protected] 
Logo: https://mma.prnewswire.com/media/995982/4760440/Comviva_Logo.jpg 
 

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Jacobi releases Model Portfolio Tech to help investment firms capitalise on booming opportunity

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The search for technology to support model portfolio management and portfolio construction services is increasing as companies look to centralise and scale their model portfolio management and compete in a rapidly growing market.
LONDON, June 26, 2024 /PRNewswire/ — The utilisation of model portfolios among financial advisers has emerged as a transformative force, with staggering growth in model portfolios projected to continue over the next decade. And with good reason, they offer an efficient method for diversification, risk management, and portfolio construction, with personalisation features to match the unique financial goals and risk tolerances of clients.

Financial advisers are also increasingly turning to asset managers for assistance in managing the model portfolios they build and maintain for clients. Jacobi’s model management technology enables asset managers to scale the portfolio construction services they offer financial professionals. The technology enables a platform that can centralise performance and risk analytics, integrate investment workflows, and produce professional reports to share with clients.
An early adopter of Jacobi’s model technology, leading asset manager T. Rowe Price has seen improved process efficiencies and enhanced engagement with clients.
Chris Augelli, Head of Advisor Engagement & Portfolio Construction Solutions at T. Rowe Price, says:
“Jacobi’s technology has enabled us to work faster and handle the increasing demand for our portfolio construction services. Having the team on one common platform through Jacobi has facilitated collaboration in real-time, which has supported our effectiveness in meeting clients’ needs.”
Tanya Bartolini, Chief Revenue Officer at Jacobi, says:
“Our technology helps us partner with asset managers such as T.Rowe Price to scale and connect workflows, driving enormous efficiencies – and ultimately increasing their market distribution.”
About Jacobi
Jacobi Inc. is a global investment technology provider that streamlines multi-asset investment processes and enables portfolio design, analysis, and client engagement. Its unique “open architecture” platform allows users to tailor the platform by integrating their own code, models, data, analytics, and applications.
Founded in 2014, Jacobi provides its technology to top-tier investors across the globe, including some of the world’s leading asset and wealth managers, pension funds, asset owners, and investment consultants. 
About T.Rowe Price 
Founded in 1937, T. Rowe Price helps people around the world achieve their long-term investment goals. As a large global asset management company known for investment excellence, retirement leadership, and independent proprietary research, the firm is built on a culture of integrity that puts client interests first. Investors rely on the award-winning firm for its retirement expertise and active management of equity, fixed income, alternatives, and multi-asset investments. T. Rowe Price manages $1.54 trillion in client assets as of May 31, 2024, and it serves millions of clients globally.
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