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VoIP Services Market will surpass US$ 472.26 Billion revenues towards the end of 2033 at a CAGR of 13.8% | Persistence Market Research

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New York, March 09, 2023 (GLOBE NEWSWIRE) — In 2022, the market value VoIP services were US$ 115.21 Billion and VoIP Services Market is anticipated to have grown to US$ 472.26 Billion by the end of 2033, and it is estimate to grow at a CAGR of 13.8% from 2023 to 2033. This growth can be attributed to the increased demand for cost-effective communication services, the rise in the number of mobile workers, and the expansion of broadband services.

One of the significant trends in the VoIP services market is the growing popularity of cloud-based VoIP services. Cloud-based VoIP services offer several benefits, such as flexibility, scalability, and cost-effectiveness, and are expected to drive market growth during the forecast period. Another trend in the market is the growing adoption of Unified Communication as a Service (UCaaS), which integrates various communication channels, including voice, video, and messaging, into a single platform.

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VoIP Services Market trends

  • Cloud-based VoIP services are gaining popularity due to their flexibility, scalability, and cost-effectiveness.
  • Unified Communication as a Service (UCaaS) is becoming more prevalent, integrating various communication channels into a single platform.
  • SIP is expected to dominate the market due to its flexibility and interoperability with various devices and networks.
  • International long-distance calls are expected to hold a larger market share due to the increasing demand for international communication services.
  • Corporate users are expected to hold a larger market share due to the increasing adoption of VoIP services in the business sector for cost-effective communication.

VoIP Services Market Drivers

  • Increased demand for cost-effective communication services.
  • The rise in the number of mobile workers who require flexible communication solutions.
  • Expansion of broadband services, enabling wider access to high-speed internet.
  • Growing adoption of cloud-based VoIP services, which offer several benefits such as flexibility and scalability.
  • The increasing demand for international communication services.

Competitive Landscape

  • Vonage Holdings Corporation
  • 8×8 Inc.
  • ShoreTel Nextiva Inc.
  • RingCentral Inc.
  • West Corporation
  • Verizon Communications Inc.
  • Thinking Phone Networks Inc.
  • Inphonex LLC
  • Phone Power LLC
  • Grasshopper

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The companies from the VoIP services market are collaborating with the various other information technology and Cloud computing companies to provide better quality and enhanced products to consumers.

  • In July 2023, The Ericsson has finished its acquirement of Vonage Holdings Corp. supportive to Ericsson’s strategy to use its position as a technology leader to expand its mobile network business and penetrate the enterprise. Through the acquisition, Ericsson now has access to sturdy building blocks that allow it to offer a full spectrum of communications solutions, including Communications Platform as a Service.
  • In January 2023, Mega Corp Logistics has collaborated with RingCentral, Inc., to use RingCentral’s best-in-class cloud communications capabilities to allow more effective employee-customer communications throughout their company.

VoIP Services Segmentation

Based on call type, the market can be segmented into international long-distance calls and domestic calls. International long-distance calls are expected to hold a larger market share due to the increasing demand for international communication services.

Based on end-users, the market can be segmented into individual users and corporate users. Corporate users are expected to hold a larger market share due to the increasing adoption of VoIP services in the business sector for cost-effective communication.

Regional Analysis Geographically, the VoIP services market can be segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). North America is expected to hold the largest market share due to the early adoption of VoIP services and the presence of major VoIP service providers in the region.

Asia-Pacific is expected to grow at the highest CAGR during the forecast period due to the increasing adoption of cloud-based VoIP services and the expansion of broadband services in the region.

VoIP Services Market Strategies

  • Focus on offering high-quality, reliable VoIP services to attract and retain customers.
  • Offer a variety of pricing plans to appeal to different types of users, such as individual users and corporate users.
  • Expand the service offerings to include additional communication channels beyond voice, such as video and messaging, to meet the needs of modern users.
  • Leverage emerging technologies, such as artificial intelligence and the Internet of Things (IoT), to create innovative solutions that provide additional value to customers.
  • Partner with other companies to expand the reach of VoIP services and increase market share.

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VoIP Services Market Opportunities

  • The increasing demand for remote work and flexible communication solutions due to the COVID-19 pandemic presents an opportunity for VoIP service providers to expand their customer base.
  • The expansion of 5G networks offers the potential for even faster and more reliable VoIP services.
  • The growing adoption of cloud-based services in general provides an opportunity for VoIP service providers to offer integrated solutions that meet the needs of businesses and individuals.
  • The increasing demand for international communication services presents an opportunity for VoIP service providers to expand their offerings in this area.
  • The growth of the Internet of Things (IoT) presents an opportunity for VoIP service providers to offer innovative communication solutions that integrate with a variety of devices and networks.

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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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