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Collaboration Tools Market is Estimated to Reach US$ 115.5 Billion by 2033, Recording a CAGR of 11.4% from 2023 to 2033 – Future Market Insights, Inc.

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DUBAI, United Arab Emirates, Jan. 19, 2023 (GLOBE NEWSWIRE) — The collaboration tools market size is expected to reach US$ 39.4 billion in 2023. It is estimated to reach US$ 115.5 billion by 2033, recording a CAGR of 11.4% from 2023 to 2033. The widespread availability of the internet allows employees to work from anywhere in the world. So, for effective teamwork, firms must use current working methods and technologies that enable coworkers to share their work in a simple and efficient manner regardless of geographical boundaries. Therefore, collaboration tools become useful in efficient communications.

Collaboration technologies are designed to help organizations communicate more effectively. Collaboration software comes in many different shapes and styles, such as video conferencing, chat apps, a project management tool to share online document storage, and so on.

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The market growth has been stifled by issues such as a lack of a company-wide collaboration strategy, a slow adoption rate, a poor user experience, and data security. Therefore, developments such as the incorporation of business information in collaboration software, technical advancements, virtual and augmented reality in collaboration solutions, and so on will drive market expansion in the coming years.

Rising demand for Unified Communication

A group of business communication technologies that have been combined and integrated into a single management system is referred to as unified communication and collaboration. The usage of these technologies is likely to boost the market for collaboration tools.

Unified communication and collaboration tools provide a consistent user experience by combining various technologies and tools, such as voice, instant messaging, desktop sharing, video and audio conferencing, and cloud architects, to enable people to collaborate more effectively anywhere and on any device.

The growing popularity of social networking and cloud computing is expected to be a significant growth factor in the worldwide collaboration tools market. The growing demand for better and more effective business solutions is expected to increase the demand for collaboration technologies.

The use of collaboration tools is expected to increase as new technologies emerge, such as Artificial Intelligence and Big Data. The increased security among various business and government organizations is another reason for the increased use of collaboration technologies. The growing adoption of cloud technology by small and medium-sized businesses is also driving growth in the global collaboration tools market.

However, over the projected period, poor user interface, and data theft are expected to be the primary challenges impeding the global collaboration tools market.

Key Takeaways

  • The collaboration tools market is expected to record a CAGR of 11.4% from 2023 to 2033.
  • Demand for enterprise communication and collaboration, as well as the adoption of remote working solutions, will drive market expansion.
  • The collaboration tools market is dominated by North America.
  • Asia Pacific is one of the rapidly rising region.

Browse a Detailed Summary of the Research Report @ https://www.futuremarketinsights.com/reports/collaboration-tools-market

Key Development

  • In June 2021, Morgan Stanley received Microsoft Azure, which would assure data security and aid in the firm’s cloud shift.
  • In May 2021, Google Cloud delivered secure global connectivity by employing SpaceX’s Starlink to provide high-speed communication across its infrastructure. This would allow enterprises to have seamless and secure cloud access.
  • In December 2020, Adobe completed the acquisition of Workfront, a project management software to track work, time and manage documents.
  • In August 2020, Cisco acquired BabbleLabs, a company that designs and develops communication software. Using strong AI techniques, the company distinguishes human speech from unwanted noise, boosting the quality of communication and conferencing services.

Collaboration Tools Market Outlook by Category

By Solution:

  • Platforms
    • Unified Messaging
    • Enterprise File Sharing & Synchronization
    • Portals & Intranet Platforms
    • Project Management Platforms
    • Enterprise Social Networks
  • Services
    • Integration Service
    • Technical Support
    • Consulting

By Deployment:

  • On-premise
  • Cloud

By Enterprise Size:

  • Small & Medium Enterprises
  • Large Enterprises

By Industry:

  • BFSI
  • IT & Telecom
  • Healthcare
  • Travel & Hospitality
  • Retail & e-Commerce
  • Manufacturing
  • Others

Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Asia Pacific Excluding Japan
  • Japan
  • The Middle East and Africa

Ask us your questions about this report @ https://www.futuremarketinsights.com/ask-question/rep-gb-4415

Table of Content

1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations

2. Market Overview
2.1. Market Coverage/Taxonomy
2.2. Market Definition/Scope/Limitations

3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. PESTLE and Porter’s Analysis
3.6. Regulatory Landscape
3.6.1. By Key Regions
3.6.2. By Key Countries
3.7. Regional Parent Market Outlook

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Conversation Intelligence Software Market Size: The global conversation intelligence software market is expected to garner a value of US$ 20.1 Billion in 2021 and US$ 21.6 Billion in 2022. The market is projected to reach US$ 43.2 Billion in 2032, exhibiting a 7.2% CAGR from 2022 to 2032.

Customer Experience Platforms Market Research: The customer experience platforms market revenue totaled ~US$ 7,753.9 Million in 2021, according to Future Market Insights (FMI). The overall customer experience platforms market is projected to reach ~US$ 18,972.7 Million by 2028, growing at a CAGR of 13.9% for 2022 to 2028.

Cyber-Physical System Market Forecast: The global cyber-physical system market size is expected to grow from US$ 86,979.6 Million in 2022 to US$ 137,566.0 Million by 2028.

About Future Market Insights, Inc.

Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries

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Future Market Insights, Inc.
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Plot No: JLT-PH2-X2A, 
Jumeirah Lakes Towers, Dubai, 
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Email: [email protected]
Web: www.futuremarketinsights.com
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Artificial Intelligence

XtalPi Unveils XtalGazer: A Comprehensive AI-Driven Polymorph Selection Platform

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CAMBRIDGE, Mass., March 28, 2024 /PRNewswire/ — XtalPi Inc., a leading global technology company in integrating artificial intelligence (AI) and robotics to advance the discovery of groundbreaking medicine and innovative materials, announced today the launch of its proprietary comprehensive solid form discovery and selection platform, XtalGazer. This advanced platform aims to significantly improve the polymorph selection process for the pharmaceutical industry by integrating AI- and automation-powered experimental and computational approaches.

XtalGazer provides a total solution for delivering high-quality polymorph screening and selection methods to expedite drug development and mitigate risks. It represents a paradigm shift in solid-state research, moving from the traditional trial-and-error approach to a data-driven, design-led methodology. The platform provides an expansive suite of foundational tools to accelerate polymorph discovery, characterization, and selection process, empowering pharmaceutical companies to conduct thorough research with less active pharmaceutical ingredient (API) in shorter development cycles.
A key component of XtalGazer is XtalCSP, a crystal structure prediction platform to perform global searches of crystal structures for target molecules and the other optional components in the corresponding searching space, offering a deep insight into possible stable forms. Furthermore, crystallization strategy recommendations will provide AI-backed experimental design to help avoid human bias. XtalGazer also utilizes MicroED to rapidly elucidate crystal structures from powder samples, reducing the need for growing single crystals.
XtalPi’s launch of XtalGazer marks another significant step in the company’s ongoing exploration of solid-state research. From crystal structure prediction platforms being one of the first products to launch at XtalPi, to today’s comprehensive polymorph selection platform, XtalPi will keep fulfilling its promise to solving challenging problems in this space. XtalPi will continue to deliver faster, more accurate, and more comprehensive approaches to building an ecosystem for the R&D process in solid-state, pre-formulation and crystallization.
For more information about XtalPi, please visit www.xtalpi.com.
About XtalPi:
XtalPi is an innovative technology company powered by artificial intelligence (AI) and robotics. Founded in 2015 on the MIT campus, XtalPi is dedicated to driving intelligent and digital transformation in the life science and new materials industries. With tightly interwoven quantum physics, AI, cloud computing, and large-scale clusters of robotic workstations, XtalPi offers a range of technology solutions, services, and products to accelerate and empower innovation for biopharmaceutical and new materials companies worldwide.
Media Contact: Vivienne [email protected]
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Artificial Intelligence

ICIS and Base Oil News Announce Partnership to Enhance Market Insights

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LONDON, March 28, 2024 /PRNewswire/ — ICIS, a global source of commodity intelligence, is pleased to announce a strategic partnership with Base Oil News, a premier news outlet founded by industry expert Iain Pocock that provides in-depth coverage of the base oils and lubricants market. This collaboration marks a significant milestone in the dissemination and exchange of critical market data and insights.

With more than two decades of journalism experience at Bloomberg, Reuters, and Argus Media, Iain Pocock brings unparalleled expertise to this partnership. His deep understanding of illiquid energy markets makes him a credible and influential figure in the industry. Since November 2023, Iain has been working closely with ICIS to share and exchange valuable data and insights, enhancing the services both platforms offer to the base oils and lubricants market.
Through the collaboration, Iain integrates ICIS’ extensive content and data resources in Base Oil News market coverage. In return, he contributes market insights to ICIS News, including expert and exclusive analysis of supply and demand dynamics, price margins, and other critical market drivers. This exchange ensures that subscribers of both ICIS and Base Oil News have access to the most comprehensive, timely, and accurate market information, empowering them to make informed decisions.
“It’s a very exciting partnership – where we leverage each other’s strengths and provide actionable insights to our customers,” said Iain Pocock, Founder of Base Oil News. “The market is the winner.”
“As ICIS is already the world’s most trusted pricing benchmark for base oils, this collaboration with Iain Pocock and Base Oil News provides an even stronger and deeper service to our customers,” said Stephen Burns, Editorial Director at ICIS. “Iain’s expertise and extensive industry connections are invaluable, and we have established a fruitful partnership that benefits the market at large.”
For the latest insights from Iain Pocock on ICIS News, visit ICIS News.  
About ICIS
ICIS – Independent Commodity Intelligence Services – helps businesses through seamlessly delivering data and analytics, across the chemical, fertilizer and energy markets. A trusted source and benchmark for price information and insight across key commodities markets worldwide. Our independent, transparent market intelligence informs thousands of quality decisions every day, taking the pressure out of negotiations and giving customers space for more innovative thinking, through published datasets including price assessments, price forecasts, supply and demand fundamentals and more.
Over 150 years of shaping the world by connecting markets to optimise the world’s valuable resources. With a global team of more than 600 experts, ICIS has employees based in London, New York, Houston, Karlsruhe, Milan, Mumbai, Singapore, Guangzhou, Beijing, Shanghai, Dubai, Sao Paulo, Seoul, Tokyo and Perth.
ICIS is part of RELX, a FTSE15 company with a market cap of £64bn and an employee base of over 30,000 experts across 40 countries.
About RELX
RELX is a global provider of information and analytics for professional and business customers across industries. The Group serves customers in more than 180 countries and has offices in about 40 countries. It employs approximately 30,000 people of whom almost half are in North America. RELX PLC is a London listed holding company which owns 52.9% of RELX Group. RELX NV is an Amsterdam listed holding company which owns 47.1% of RELX Group. The shares are traded on the London, Amsterdam and New York Stock Exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RELX and RENX. Total market capitalisation is approximately £64bn | €75bn | $81bn.
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Artificial Intelligence

Trianz Welcomes Israel Abraham as Vice President of Services for Extrica.ai – The Data to AI Platform

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SANTA CLARA, Calif., March 28, 2024 /PRNewswire/ — Digital transformation technology & services company Trianz is pleased to announce the appointment of Israel Abraham as Vice President of Extrica Platform Services.

Trianz has embarked on a transformative journey, redefining its value proposition with an ‘IP Led’ model, with a commitment to deliver the fastest time to value, lowest human dependence, and highest ROI. Central to this approach are our hyper-automated platforms, Concierto.Cloud, Extrica.AI, and Pulse, driving industry-leading transformations in cloud, data and analytics, AI, and the digital workplace.
Israel Abraham is a very well-known pioneer and industry leader in AI, data management, and analytics systems, with over three decades of experience. He joins as the services leader for Extrica- the Trianz Data to AI platform, which productizes data, provides data a face and purpose, and accelerates time to insights and AI by 50% or more. In the role of Extrica Services leader, Israel will lead the shaping, visioning, and delivery of Extrica.ai based enterprise wide datamesh, BI, and AI solutions for customers worldwide.
“We are thrilled to welcome Israel Abraham to the Trianz family,” said Sri Manchala, CEO of Trianz and author of Crossing the Digital Faultline. “He is a leader in modernization as well as conceptualization of data platforms anew. Israel’s prior background in the industry with financial services and insurance giants underscores our commitment to securing top-tier talent that brings real-world experiences and needs to our technology platforms. As we continue to broaden our footprint in the digital transformation space, Israel’s visionary leadership and practical experience will serve as the cornerstone in accelerating insights and AI to deliver transformative value to our clients.”
Having played pivotal roles in highly reputed and large organizations such as Liberty Mutual Insurance, MassMutual, Safeco, and CNA Insurance, Israel has garnered recognition as a seasoned leader in big data and AI cloud implementations. His accolades include the prestigious 2014 Ventana Research IT Innovation Award, the 2009 Informatica MDM Innovation Award, and three filed Data Engineering patents in the last four years.
“Trianz has been at the forefront of digital innovation, and Extrica.ai is a paradigm shifting data to AI platform that completely changes how analytics and AI are delivered- much faster, taking business ahead of change. I am excited to scale the adoption of the Extrica platform, which has attracted attention from giants across the industry and hyperscalers,” said Israel Abraham. “I look forward to engaging with customers, bringing my own experiences, and collaborating with the talented team at Trianz to further enhance the capabilities of the Extrica Platform Services to transform data & AI strategies, execution, and outcomes for customers.”
About Trianz
Trianz is a leading-edge technology platforms and services company that accelerates digital transformations at Fortune 100 and emerging companies worldwide in data & analytics, digital experiences, cloud infrastructure, and security. Our ‘IP Led Transformations’ approach, informed by insights from a recent global study spanning 20+ industries and 5000+ companies, addresses challenges posed by the rapid pace of AI-driven transformation, digital talent scarcity, and economic uncertainty. Our IP and platforms, including Concierto, Extrica, and Pulse, revolutionize cloud adoption, data analytics, and AI insights, empowering organizations to navigate the complexities of digital transformation seamlessly.
Founded in California and with an organization of over 2,000 associates across the United States and India, Trianz is a Premier Partner of AWS, consistently rated #1 by clients for value delivery over the past five years. Trianz has been ranked as one of the best Consulting Firms by Forbes and has been certified as a Great Place to Work for three years in a row. To learn more about Trianz, email [email protected] or visit www.trianz.com.
Watch Trianz CEO Sri Manchala’s insightful interview with Bloomberg on Partner | Crossing The Digital Faultline & Leading Towards Transformative Success – YouTube and delve deeper into his book Crossing the Digital Faultline at Crossing the Digital Faultline | Trianz.
Trianz Media [email protected] +1-408-387-5800
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