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Communication Platform As a Service Market to Expand at a CAGR of 28%, Driven by Emergence of New Technologies | Market.us Report

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New York, April 18, 2023 (GLOBE NEWSWIRE) — The Communication Platform As a Service Market size is projected to surpass around USD 121 Billion by 2032, and it is poised to reach a registered CAGR of 28% from 2023 to 2032. The global communication platform as a service market size was USD 10.9 Billion in 2022.

Communication Platform as a Service (CPaaS) is an on-demand cloud model that empowers developers to quickly and easily add real-time communication capabilities to their applications, websites, or services. CPaaS providers typically offer communication services like SMS, voice, video as well as chat that can be integrated into applications or websites using APIs or software development kits (SDKs). Developers can quickly and easily add real-time communication capabilities to their applications without having to start from zero. CPaaS solutions are applicable across various industries such as customer service, e-commerce, healthcare, and education. By facilitating real-time communication between businesses and customers businesses can improve customer engagement and deliver superior service.

Communication Platform As a Service Market

To get additional highlights on major revenue-generating segments, Request a Communication Platform As a Service Market sample report at https://market.us/report/communication-platform-as-a-service-market/request-sample/

Key Takeaway:

  • By component, in 2022, the communication platform as a service market was dominated by the solution component segment due to its improved functions.
  • By organization size, the large enterprise segment dominated the largest market share in the organization size segment and accounted for the largest revenue share in the communication platform as a service market in 2022.
  • By end-user, the IT & Telecom segment dominated the largest market share in end-user analysis
  • In 2022, North America dominated the market with the highest revenue share of 32%.
  • APAC is expected to grow at a greater pace owing to the expansion of end-use industries like retail, e-commerce, and IT & telecom.

Factors Affecting the Growth of the Communication Platform As a Service Industry

There are several factors that are affecting the growth of communication platforms as a service industry. These include:

  • Increased Demand for Cloud-Based Communication Services: Cloud-based communication services have seen a rise in popularity due to their scalability, flexibility as well as cost efficiency. As a result, there is now an increasing demand for these cloud-based offerings propelling growth within the CaaS industry.
  • The emergence of New Technologies: The advent of cutting-edge technologies such as 5G, artificial intelligence (AI), and the Internet of Things (IoT) presents communication service providers with an extraordinary opportunity to offer cutting-edge services to their customers.
  • Growth of Remote Work and Virtual Collaboration: The COVID-19 pandemic has hastened the trend toward remote work and virtual collaboration leading to an increase in demand for communication services that enable these modes of employment.
  • Increasing Need for Communication Security: With the increasing use of digital communication channels, there is an increasing need for security measures to safeguard sensitive information against cyber threats. CPaaS providers are responding by offering more secure communication services in order to provide data safety.
  • Growing Awareness of CPaaS Benefits: As more businesses and organizations recognize the advantages of CPaaS, such as cost savings, scalability, and ease of use, demand for these services is expected to continue increasing in upcoming years.

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Market Growth

The growth of the CPaaS market can be attributed to several factors including increasing adoption of cloud-based communication services, technological advancements, remote work/virtual collaboration trends, and communication security requirements. Additionally, the growing demand for video conferencing, collaboration tools, and unified communication solutions is fuelling the expansion of the CaaS market. The CPaaS market is expected to experience steady growth over the coming years as businesses and organizations increasingly adopt cloud-based communication services and new technologies become accessible to all businesses (Large enterprises and SEMs). This expansion presents communication service providers with numerous opportunities to offer cutting-edge services and solutions to their customers.

Regional Analysis

North America led the global communication platform as a service market with a market share of 32% in 2022 and is forecast to experience a CAGR of 29.2% over the forecast period. In this region, the advisement of technology infrastructures and many tech-savvy businesses are early adopters of CPaaS. Factors such as its high level of research & development (R&D), established telecom market, and presence of many CPaaS businesses all add to its attractiveness. Furthermore, Asia Pacific is experiencing a rise in advanced technological infrastructure that will fuel market expansion. Asia Pacific is expected to experience a CAGR of 34.1% during the forecast period because of the growth of end-use industries like retail, e-commerce, and IT & telecom.

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Scope of the Report

Report Attribute Details
Market Value (2022) US$ 10.9 billion
Market Size (2032) US$ 121 billion
CAGR (from 2023 to 2032) 28%
North-America Revenue Share 32%
Historic Period 2016 to 2022
Base Year 2022
Forecast Year 2023 to 2032

Market Drivers

CPaaS providers offer a suite of services such as messaging, voice, and video communication that enable individuals and businesses to stay in touch in real-time. Due to the rapid developments in digital technologies people are seeking faster, more convenient, and more efficient ways of communication. Cloud-based communication services have become increasingly popular due to their flexibility, scalability, and cost-effectiveness. CPaaS providers offer cloud-based communication solutions that can be easily integrated with existing systems and applications, making it easier for businesses to meet communication needs. CPaaS providers provide application programming interfaces (APIs) that enable developers to easily incorporate communication services into their applications. Businesses now can add real-time communication capabilities without needing to invest in infrastructure upgrades.

Market Restraints

Real-time communication services can be vulnerable to security breaches and data leaks which could tarnish a business’s reputation and result in financial losses. CPaaS providers’ need to guarantee their communication services are secure and meet regulatory compliance requirements is not an easy task. Integrating communication services into existing applications and systems necessitates expertise and time; Some businesses might even have trouble seamlessly integrating existing systems and CPaaS offerings. Different CPaaS providers employ various APIs and protocols that may restrict interoperability between their services, making switching between providers or using multiple providers challenging for businesses. Real-time communication relies on internet connectivity that may be unpredictable or subject to downtime; businesses must have contingency plans in place so communication remains uninterrupted in case of internet outages.

Market Opportunities

CPaaS providers have the opportunity to expand into sectors such as finance, healthcare, and education. These industries have particular communication needs that CPaaS solutions can address through telehealth, remote learning, and financial transactions. CPaaS providers can seamlessly integrate their communication services with cutting-edge technologies like artificial intelligence (AI), IoT, and blockchain, giving businesses the power to improve efficiency and automate their communication processes. CPaaS providers can collaborate with other businesses such as system integrators, software vendors, and telecommunications service providers. Through partnerships, CPaaS providers are able to expand their customer base and access new markets. Furthermore, they innovate in user experience by offering features like chatbots, interactive vocal response (IVR) systems, and video conferencing – which increase engagement levels among users and ultimately result in higher adoption rates and customer loyalty.

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Report Segmentation of the Communication Platform As a Service Market

Component Insight

The global communication platform as a service market is divided into solution and service components with the former projected to have the highest CAGR of 26.7% over the forecast period. In 2022, the solution component segment dominated the market with a market share of 86.4%. The solution segment is further divided into message, voice, and video. This segment’s growth can be attributed to its enhanced programmable video capabilities that promote more humanized digital interactions. Furthermore, built-in video with APIs to integrate workflow will be a major element of CPaaS’s overall value proposition. In 2022, the service sector is predicted to experience a compound annual growth rate of 34.3%, services are separated into managed services and professional services. Banks and other financial institutions are using conversational AI platforms with APIs to automate customer service interactions.

Organization Size Insight

By organization size, the market is further divided into large enterprises and small and medium-sized enterprises (SMEs). Large enterprises will be the most lucrative segment in the global communication platform as a service market accounting for 57.3% of the total market share with an expected CAGR of 25.3% during the projected period. The rapidly escalating digital engagement with customers is expected to drive the demand for communication platform-as-a-service in large industries. Companies invest in IT systems to enhance customer service on digital platforms, this factor can boost the market growth of CPaaS. The small and medium enterprises segment is projected to experience a CAGR of 31.6% during the forecast period due to increasing technology adoption among these SEMs.

End User Insight

According to end-user, the market is divided into BFSI, IT & Telecom, Retail & E-commerce, Transportation & Logistics, Travel & Hospitality, and Other End Users. IT & Telecom is expected to be the most lucrative segment in the global communication platform as a service market with a revenue share of 20.6% in 2022 and a projected CAGR of 29.3% between 2023-2031 due to being one of the early adopters of communication solutions and continuing its expansion within this industry to maintain customer engagement. Travel & hospitality will experience higher expansion with a CAGR of 31.2% from 2022-2031 due to rising demands for higher customer service levels within this segment.

Recent Development of the Communication Platform As a Service Market

  • In January 2022, Bandwidth Inc. did a partnership with a global cloud company Genesys, engaged in customer experience relevance, for enterprise contact center development. The company offers better flexibility to consumers by adoring advanced DuetSM solutions.
  • In March 2021, ValueFirst, an India-based CPaaS firm get acquired by Twilio Inc. The acquired firm helps in connecting businesses with consumers over telecom and internet channels. The ultimate aim of this acquisition is to expand the CPaaS solution offerings and to make a relevant presence in India.

For more insights on the historical and Forecast market data from 2016 to 2032 – download a sample report at https://market.us/report/communication-platform-as-a-service-market/request-sample/

Market Segmentation

Based on Component

  • Solution
    • Message
    • Voice
    • Video
  • Service
    • Managed Services
    • Professional Services

Based on Organization Size

  • Large Enterprises
  • SMEs

Based On End-User

  • BFSI
  • IT & Telecom
  • Retail & E-commerce
  • Transportation & Logistics
  • Travel & Hospitality
  • Other End-User

By Geography

  • North America
    • The US
    • Canada
    • Mexico
  • Western Europe
    • Germany
    • France
    • The UK
    • Spain
    • Italy
    • Portugal
    • Ireland
    • Austria
    • Switzerland
    • Benelux
    • Nordic
    • Rest of Western Europe
  • Eastern Europe
    • Russia
    • Poland
    • The Czech Republic
    • Greece
    • Rest of Eastern Europe
  • APAC
    • China
    • Japan
    • South Korea
    • India
    • Australia & New Zealand
    • Indonesia
    • Malaysia
    • Philippines
    • Singapore
    • Thailand
    • Vietnam
    • Rest of APAC
  • Latin America
    • Brazil
    • Colombia
    • Chile
    • Argentina
    • Costa Rica
    • Rest of Latin America
  • Middle East & Africa
    • Algeria
    • Egypt
    • Israel
    • Kuwait
    • Nigeria
    • Saudi Arabia
    • South Africa
    • Turkey
    • United Arab Emirates
    • Rest of MEA

Competitive Landscape

Major key players are continuously investing in product innovation and the development of next-generation technologies that will expand their businesses in foreign markets. Furthermore, these firms are adopting merger and acquisition strategies to boost their global market revenue.

Some of the major players include:

  • TWILIO INC.
  • Avaya Inc.
  • Vonage America, LLC
  • MessageBird
  • Infobip ltd.
  • Plivo Inc.
  • Telnyx LLC
  • TEXTUS
  • Voximplant
  • Bandwidth Inc.
  • Other Key Players

Related Reports

  • Managed security services (MSS) Market size is expected to be worth around USD 74.2 Billion by 2032 from USD 25.9 Billion in 2022, growing at a CAGR of 11.40% during the forecast period from 2023 to 2032.
  • Data science platforms market was worth USD 64,099.12 million in 2021, and it is expected to increase at a compound annual growth rate (CAGR) of 25.7% between 2022-2032
  • Online Video Platform’s market value was USD 6,142 million in 2021. The market is expected to grow at a compound annual increase rate (CAGR) of 19.3% between 2022-2032.
  • Aerial work platforms market was valued at USD 15,850 million in 2021. This market is expected to expand at a 6.2% compound annual growth rate (CAGR), between 2022-2032.

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More than $9 Million Awarded to High School Scientists and Engineers at the Regeneron International Science and Engineering Fair 2024

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Grace Sun, 16, receives $75,000 Top Award for a new kind of organic electrochemical transistor at the world’s largest pre-college science, technology, engineering and math (STEM) competition.
TARRYTOWN, N.Y. and WASHINGTON, May 17, 2024 /PRNewswire/ — Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) and Society for Science (the Society) announced that Grace Sun, 16, of Lexington, Kentucky, won the $75,000 top award, the George D. Yancopoulos Innovator Award, named in honor of the pioneering drug researcher and Regeneron co-Founder, Board co-Chair, President and Chief Scientific Officer, in the 2024 Regeneron International Science and Engineering Fair (Regeneron ISEF), the world’s largest pre-college science and engineering competition. Other top prizes went to projects in second-order cone programming, microplastics filtration and multi-sensory therapy for dementia.

The top winners were honored during two award ceremonies: the Special Awards on May 16 and the Grand Awards Ceremony on the morning of May 17. In total, over $9 million USD was awarded to the finalists based on their projects’ creativity, innovation and depth of scientific inquiry. The competition featured nearly 2,000 young scientists representing 49 U.S. states and nearly 70 countries, regions and territories across the world.
Grace Sun, 16, of Lexington, Kentucky, won first place and received the $75,000 George D. Yancopoulos Innovator Award for her research on building a better organic electrochemical transistor that she hopes will be used to develop new electronic devices that could help detect and treat serious illnesses like diabetes, epilepsy and organ failure. To overcome the problems that have previously prevented such devices from working effectively inside the body, Grace developed a new way of chemically treating their organic components, which greatly improved their laboratory performance.
Michelle Wei, 17, of San Jose, California, received one of two Regeneron Young Scientist Awards of $50,000 for her research to improve the speed and efficiency of a type of software that is useful in many fields such as machine learning, transportation and financial systems. Michelle’s new approach involved determining a quick approximate solution to the second-order cone programming problem, then splitting the initial cone into smaller cones, which enabled her new algorithm to greatly outperform previous approaches.
Krish Pai, 17, of Del Mar, California, received the second Regeneron Young Scientist Award of $50,000 for his machine-learning research to identify microbial genetic sequences that can be modified to biodegrade plastic. His new software, called Microby, scans databases of microorganisms and determines which ones can be changed genetically to biodegrade plastics. In tests, he identified two microorganisms that can be genetically modified to degrade plastic at a cost he believes would be ten times less than traditional recycling.
 “Congratulations to the Regeneron International Science and Engineering Fair 2024 winners,” said Maya Ajmera, President and CEO, Society for Science and Executive Publisher, Science News. “I’m truly inspired by the ingenuity and determination shown by these remarkable students. Coming from around the world with diverse backgrounds and academic disciplines, these students have shown that it is possible to come together in unity to tackle some of the toughest challenges facing our world today, and I could not be prouder.”
Regeneron ISEF provides a global stage for the world’s best and brightest young scientists and engineers. Through this competition, Regeneron and the Society are fostering the next generation of STEM leaders who are pioneering solutions to improve our world. Since 2020, Regeneron has provided STEM experiences to approximately 2.4 million students, on track to meet its goal of 2.5 million by 2025.
“The talent, intelligence and potential of this year’s Regeneron ISEF finalists is truly inspiring, and I congratulate each on their remarkable achievements,” said George D. Yancopoulos, M.D., Ph.D., co-Founder, Board co-Chair, President and Chief Scientific Officer of Regeneron. “Science competitions like ISEF were pivotal in shaping my own career and fueling my passion to fight back against disease. I look forward to seeing these students continue to push the boundaries of science and technology to create positive and sustainable change for all humanity.”
Other top honors from the competition include:
Justin Huang and Victoria Ou, both 17, of Woodlands, Texas, received the Gordon E. Moore Award for Positive Outcomes for Future Generations of $50,000 for their new prototype filtration system that uses ultrasonic waves to remove microscopic plastic particles from water. In lab tests, the acoustic force from the high-frequency sound waves removed between 84% and 94% of the suspended microplastic particles in a single pass. The students are now working to scale up and fine-tune their experimental system.
Ingrid Wai Hin Chan, 17, of Hong Kong, China received the Craig R. Barrett Award for Innovation of $10,000 for her research on using a multi-sensory therapy for dementia patients. Her mixed therapy app would allow patients to practice physical and cognitive skills through a personalized, immersive environment using virtual reality headsets. Ingrid conducted an eight-week study with six people living with dementia and found that the cognitive function of patients who used her prototype improved in several areas. She believes her app could serve as a viable option for dementia patients with limited access to in-person professional therapy.
Tanishka Balaji Aglave, 15, of Valrico, Florida, received the H. Robert Horvitz Prize for Fundamental Research of $10,000 for her investigation into a natural alternative treatment against citrus greening, a disease that threatens citrus farming in many parts of the world and is currently only treated with antibiotics. Tanishka injected the trunks of infected trees with an extract from the curry leaf tree, and found through tests that this potential method could effectively and sustainably manage citrus greening disease.
Maddux Alexander Springer, 18, of Honolulu, Hawaii, received the Peggy Scripps Award for Science Communication of $10,000 for his research into fibropapillomatosis (FP), a disease that is the primary cause of death in green sea turtles. Some turtles he studied in Kaneohe Bay, Hawaii, were stricken with a disease that causes internal and external tumors that inhibit their everyday lives. After analyzing the turtles’ diet of green algae, Maddux concluded that this disease, wastewater, invasive algae and the amino acid arginine all pose a grave risk to these endangered sea creatures.
Ria Kamat, 17, of Hackensack, New Jersey; Anna Oliva, 17, of Houston, TX; and Shuhan Luo, 18, of Worcester, MA, received the Dudley R. Herschbach SIYSS Award, which provides finalists an all-expense paid trip to attend the Stockholm International Youth Science Seminar during Nobel Week in Stockholm, Sweden.
Jack Shannon, 18, of Clane, Kildare, Ireland, and Nikhil Vemuri, 17, of Cary, North Carolina, received the EU Contest for Young Scientists Award. Their projects will represent Regeneron ISEF at the EU Contest for Young Scientists to be held this September in Katowice, Poland.
For more information about the top winners and access to visual assets visit:  https://www.societyforscience.org/isef-2024-media-kit.
The full list of Special Award ISEF 2024 Finalists can be found at https://www.societyforscience.org/press-release/regeneron-isef-2024-special-awards-winners.
In addition to the Top Award winners, more than 450 finalists received awards and prizes for their innovative research, including “First Award” winners, who each received a $5,000 prize.
The following lists the First Award winners for each of the 22 categories, from which the Top Awards were chosen:
Animal Sciences, sponsored by Society for ScienceMaddux Alexander Springer, Honolulu, Hawaii
Behavioral and Social Sciences, sponsored by Society for ScienceAndrew Y. Liang, San Jose, California
Biochemistry, sponsored by RegeneronAmy Hong Xiao, Garden City, New York
Biomedical and Health Sciences, sponsored by RegeneronRia Kamat, Hackensack, New Jersey; Kevin Xuan Lei, Shanghai, China
Biomedical Engineering, sponsored by Alfred E. Mann CharitiesAyush Garg, Dublin, California; Divij Motwani, Palo Alto, California; Akash Ashish Pai, Portland, Oregon
Cellular and Molecular Biology, sponsored by RegeneronLara and Maya Sarah Hammoud, Beverly Hills, Michigan
Chemistry, sponsored by Society for ScienceAkilan Sankaran, Albuquerque, New Mexico; Arjun Suresh Malpani and Siddharth Daniel D’costa, Portland, Oregon
Computational Biology and Bioinformatics, sponsored by RegeneronKun-Hyung Roh, Bronx, New York
Earth and Environmental Sciences, sponsored by Google.orgNikhil Vemuri, Durham, North Carolina; Justin Yizhou Huang and Victoria Ou, The Woodlands, Texas
Embedded Systems, sponsored by HPChloe Rae and Sophie Rose Filion, Welland, Ontario, Canada
Energy: Sustainable Materials and Design, sponsored by Siemens EnergyAlia Wahban, Hamilton, Ontario, Canada
Engineering Technology: Statics and Dynamics, sponsored by Howmet Aerospace FoundationChiyo Nakatsuji, Bunkyoku, Tokyo, Japan; Kevin Shen, Olympia, Washington
Environmental Engineering, sponsored by JacobsKrish Pai, San Diego, California; Jack Shannon, Clane, Kildare, Ireland
Materials Science, sponsored by Howmet Aerospace FoundationGrace Sun, Lexington, Kentucky
Mathematics, sponsored by Akamai FoundationAnna Oliva, Houston, Texas
Microbiology, sponsored by Schattner FoundationMatthew Chang, Irvine, California
Physics and Astronomy, sponsored by Richard F. Caris Charitable Trust IIHarini Thiagarajan and Vishal Ranganath Yalla, Bothell, Washington; Shuhan Luo, Worcester, Massachusetts
Plant Sciences, sponsored by Society for SciencePauline Estrada, Fresno, California; Tanishka Balaji Aglave, Dover, Florida
Robotics and Intelligent Machines, sponsored by RegeneronMichal Lajciak, Dubnica nad Vahom, Trenciansky kraj, Slovakia; Anthony Efthimiadis, Oakville, Ontario, Canada
Systems Software, sponsored by MicrosoftMichelle Wei, San Jose, California
Technology Enhances the Arts, sponsored by Society for ScienceAnant Khandelwal, Sritan Motati and Siddhant Sood, Alexandria, Virginia
Translational Medical Science, sponsored by RegeneronZheng-Chi Lee, West Lafayette, Indiana; Ingrid Wai Hin Chan, Hong Kong, China
The full list of all award-winning ISEF 2024 finalists is available here: https://www.societyforscience.org/press-release/regeneron-isef-2024-full-awards.
View all the finalists’ research here: https://projectboard.world/isef.
About the Regeneron International Science and Engineering FairThe Regeneron International Science and Engineering Fair (Regeneron ISEF), a program of Society for Science for over 70 years, is the world’s largest global science competition for high school students. Through a global network of local, regional and national science fairs, millions of students are encouraged to explore their passion for scientific inquiry. Each spring, a group of these students is selected as finalists and offered the opportunity to compete for approximately U.S. $9 million in awards and scholarships.
In 2019, Regeneron became the title sponsor of ISEF to help reward and celebrate the best and brightest young minds globally and encourage them to pursue careers in STEM to positively impact the world. Regeneron ISEF is supported by a community of additional sponsors, including Akamai Foundation, Alfred E. Mann Charities, Aramco, Caltech, Google.org, Gordon and Betty Moore Foundation, Howmet Aerospace Foundation, HP, , Jacobs, King Abdulaziz & his Companions Foundation for Giftedness and Creativity, Microsoft, National Geographic Society, Richard F. Caris Charitable Trust II, Rise, an initiative of Schmidt Futures and the Rhodes Trust, Schattner Foundation, Siemens Energy, Annenburg Foundation, Ballmer Group, Broadcom Foundation, Cesco Linguistic Services, Conrad N. Hilton Foundation, Edison International, Insaco, Oracle Academy, The Eli and Edythe Broad Foundation, The Ralph M. Parsons Foundation and US Army ROTC. Many are entrepreneurs across a wide range of industries. Learn more at https://www.societyforscience.org/isef/.
About Society for ScienceSociety for Science is a champion for science, dedicated to promoting the understanding and appreciation of science and the vital role it plays in human advancement. Established in 1921, Society for Science is best known for its award-winning journalism through Science News and Science News Explores, its world-class science research competitions for students, including the Regeneron Science Talent Search, the Regeneron International Science and Engineering Fair and the Thermo Fisher Scientific Junior Innovators Challenge, and its outreach and equity programming that seeks to ensure that all students have an opportunity to pursue a career in STEM. A 501(c)(3) membership organization, Society for Science is committed to inform, educate and inspire. Learn more at www.societyforscience.org and follow us on Facebook, Twitter, Instagram and Snapchat (Society4Science).
About RegeneronRegeneron (NASDAQ: REGN) is a leading biotechnology company that invents, develops and commercializes life-transforming medicines for people with serious diseases. Founded and led by physician-scientists, our unique ability to repeatedly and consistently translate science into medicine has led to numerous approved treatments and product candidates in development, most of which were homegrown in our laboratories. Our medicines and pipeline are designed to help patients with eye diseases, allergic and inflammatory diseases, cancer, cardiovascular and metabolic diseases, neurological diseases, hematologic conditions, infectious diseases and rare diseases. 
Regeneron believes that operating as a good corporate citizen is crucial to delivering on our mission. We approach corporate responsibility with three goals in mind: to improve the lives of people with serious diseases, to foster a culture of integrity and excellence and to build sustainable communities. Regeneron is proud to be included on the Dow Jones Sustainability World Index and the Civic 50 list of the most “community-minded” companies in the U.S. Throughout the year, Regeneron empowers and supports employees to give back through our volunteering, pro bono and matching gift programs. Our most significant philanthropic commitments are in the area of early science education, including the Regeneron Science Talent Search and the Regeneron International Science and Engineering Fair (ISEF).
For more information, please visit www.Regeneron.com or follow Regeneron on LinkedIn, Instagram, Facebook or X.
More information about the top winners and access to visual assets visit:  https://www.societyforscience.org/isef-2024-media-kit.
Media ContactsJoseph Brown, [email protected]
Gayle Kansagor, Society for [email protected]
Photo – https://mma.prnewswire.com/media/2416174/Regeneron_ISEF_2024_Winners_Photo.jpg 
Logo – https://mma.prnewswire.com/media/2416197/Society_for_Science_Logo.jpg 

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J.P. Morgan Life Sciences Private Capital, Blue Horizon Advisors and United Al Saqer Announce Winner of Inaugural 2024 Life Sciences Innovation Summit

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In conjunction with Abu Dhabi Global Healthcare Week 2024
ABU DHABI, UAE, May 17, 2024 /PRNewswire/ — J.P. Morgan Life Sciences Private Capital, Blue Horizon Advisors and United Al Saqer Group announced today Rayees Rahman of Harmonic Discovery as the winner of the inaugural J.P. Morgan Asset Management: Life Sciences Innovation Summit. Harmonic Discovery is a precision pharmacology company applying its generative chemistry platform to advance next-generation kinase inhibitors.

In partnership with the Department of Health – Abu Dhabi (DoH), the Summit took place on May 14-15, 2024 at Cleveland Clinic Abu Dhabi and showcased the 11 innovative finalists, as well as highlighted existing innovators and opportunities in the Emirate of Abu Dhabi. The event also featured keynote speeches from Dr. Laurie Glimcher of Dana-Farber Cancer Institute, Dr. Shahrukh Hashmi of the Department of Health – Abu Dhabi, and Dr. David Ho of Columbia University Medical Center and provided attendees networking opportunities to gain valuable insights into the future of life sciences innovation. 
In addition, the jury designated Chun-Hao Huang of Algen Biotechnologies as honourable mention. Algen Biotechnologies is a platform therapeutics and drug discovery company using world-leading CRISPR and AI to find treatments for cancer, inflammation and metabolic diseases.
The winners were selected by an esteemed, international panel of judges, which included:Laurie Glimcher, MD, President and CEO at Dana-Farber Cancer InstituteJorge Guzman, MD, CEO at Cleveland Clinic Abu DhabiProf. Shahrukh Khurshid Hashmi, MD, Director of Research, Department of Health, Abu DhabiYasmine Hayek Kobeissi, PhD, CQF, BSc., Executive Director at Blue Horizon AdvisorsAnya Schiess, Managing Partner at J.P. Morgan Life Sciences Private CapitalWalid Zaher, PhD, Co-Founder and CEO, Carexso
Dr. Asma Al Mannaei, Executive Director of the Research and Innovation Centre at the Department of Health – Abu Dhabi said: “Under the directives of the UAE’s wise leadership, and renowned for its world-leading medical infrastructure, Abu Dhabi stands at the forefront of healthcare excellence, offering an unparalleled opportunity for advancement in healthcare for global partners. It was our utmost pleasure hosting the J.P. Morgan Asset Management Life Sciences Innovation Summit 2024 on the sidelines of Abu Dhabi Global Healthcare Week and we commend the winners for their pioneering efforts in driving impactful advancements in healthcare; their dedication to innovation not only transforms the landscape of medicine, but also holds the promise of improving lives worldwide.” 
Stephen Squinto, PhD, Chief Investment Officer, J.P. Morgan Life Sciences Private Capital said: “We are thrilled with the level of biotech passion and innovation that we observed at this year’s Summit in Abu Dhabi. The energy was truly palpable we are thrilled to announce Rayees Rahman as the winner of our first Life Sciences Innovation Summit. Harmonic Discovery’s approach embodies the next generation of drug discovery and development. We appreciate the time and effort of all participants and cannot wait for our next event in the region.”
Nabil Kobeissi, Chief Executive Officer of Blue Horizon Advisors, said: “As the main sponsor, we are committed to nurturing and fostering the growth of all 11 finalists in this vibrant biotech ecosystem. This Summit marks the beginning of a transformative journey, and we are confident that it will pave the way for a flourishing hub in the region. We are also pleased to announce that we will commit to invest in and partner with the winner, Harmonic Discovery, to support its future growth in the region.”
Sponsors for the event included J.P. Morgan Life Sciences Private Capital, J.P. Morgan Commercial Bank, Blue Horizon Advisors, United Al Saqer Group, Thermo Fisher Scientific, and Salam Capital. The Summit organisation, logistics and finalist recruitment were facilitated by Lyfebulb.
Of importance, at the Summit, Mr. Mohamed Al Breiki, Executive Director of Sustainable Development at Masdar City, announced that Masdar City Free Zone would award all 11 Finalists complimentary business licenses to further support their establishment in the region. Masdar City is one of the world’s most sustainable urban developments and innovation hubs with a growing focus on life science entrepreneurship in Abu Dhabi.

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Artificial Intelligence

Congregating in the Lion City for a Win-Win Future of Intelligent Computing at the Global Data Center Facility Summit 2024

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SINGAPORE, May 17, 2024 /PRNewswire/ — On May 17, 2024, the Global Data Center Facility Summit 2024 was held in Singapore with the theme of “Power the Digital Era Forward.” At the summit, over 600 data center industry leaders, technical experts, and ecosystem partners gathered to discuss new trends and opportunities of the global data center industry in the intelligent computing era. The attendees also got to experience all-scenario, all-ecosystem, and all-service end-to-end (E2E) solutions, share innovative practices of green data centers in the Asia Pacific and Europe, and experience the exhibition vehicle to unveil the mystery of Outdoor PowerPOD that features one power system per container. By fully embracing the intelligent computing era, Huawei strives to power the digital era forward.

Seizing Opportunities Brought by AI and Jointly Building Green & Reliable Computing Infrastructure
At the opening speech, Charles Yang, Senior Vice President of Huawei and President of Marketing, Sales and Services, Huawei Digital Power, noted that since ChatGPT ushered in the AI era, large models keep pushing the limits of computing power and the intelligent computing industry is witnessing an unprecedented construction boom. As predicted, 100 GW will be added to the global data center installed capacity and the market value will exceed US$600 billion in the next five years.
According to Charles, with opportunities come challenges. The primary challenge concerning the data center industry is reliability and electricity. Data centers are scaling up from the MW-level to the GW-level. E2E reliability of data centers is becoming even more important than ever. In response to the opportunities, Huawei will work with customers and partners to expand the industry space.
Steering Data Centers to the AI Era with Product + Service + Ecosystem
During the summit, Sun Xiaofeng, President of Huawei Data Center Facility & Critical Power Business, delivered a speech titled “Power the Digital Era Forward. ” He stated that as AI large models are penetrating, the surging compute demands drive the expansive growth in data center.
To address the challenges, Huawei strives to build product + service + ecosystem E2E data center solutions that feature fast deployment, flexible cooling, green energy, and ultimate reliability.
Fast deployment: Data centers are fully modularized and prefabricated to ensure high quality and efficient construction.Flexible cooling: Air-liquid fusion and integrated cooling source emerges as the optimal cooling architecture for intelligent computing.Green energy: New generation-grid-load-storage integrated solution is built to ensure the sound operations of intelligent computing centers.Ultimate reliability: Data centers are safeguarded through reliable products and preventive protection.Currently, Huawei’s global service network covers more than 170 countries with over 1800 professional engineers, providing 24/7 technical support. With N+ flagship service centers, Huawei has built a one-hour service radius for its customers.
The ecosystem is a key part for a win-win future of intelligent computing. Huawei works with partners to develop comprehensive E2E solutions and provide customers with one-stop data center services.
During the summit, Huawei and the ASEAN Centre for Energy released a white paper on “Building Next Generation Data Center Facility in ASEAN.” The document provides insights into the status quo, challenges, and trends of data centers in the ASEAN region, and emphasizes that efficient and energy-saving products and solutions should be applied. It also proposes future-oriented policy recommendations for data center markets.
In the ecosystem exhibition area, Huawei showcased scenario-based solutions for large-, medium-, and small-sized data centers, and demonstrated data center consulting, design, integrated development, and delivery capabilities with dozens of ecosystem partners including CIMC, Weichai, CSCEC, and Huashi.
On a special note, the Huawei Outdoor PowerPOD exhibition vehicle made its global debut. The Huawei Outdoor PowerPOD features one power system per container, outdoor deployment, plug-and-play, and high protection rating and reliability. It has become the preferred choice for decoupling the power supply architecture.
A single tree cannot make a forest.
AI is presenting great opportunities. By delving into the industry, aggregating partner ecosystems, and making innovations applicable to transformations, Huawei will continue to help customers build reliable computing infrastructure, accelerating the industry to embrace AI and powering the digital era forward.
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View original content:https://www.prnewswire.co.uk/news-releases/congregating-in-the-lion-city-for-a-win-win-future-of-intelligent-computing-at-the-global-data-center-facility-summit-2024-302148973.html

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