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IP Desk Phone Market Size to Surpass $ 2,411.65 Mn by 2030, exhibiting a CAGR of 6.2%

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New York, May 11, 2023 (GLOBE NEWSWIRE) — Global IP Desk Phone Market Size, Share & Trends Analysis, By Type (Video Desktop IP Phone and Common Desktop IP Phone), Connectivity (Wired, DECT, Wi-Fi, and Others), End-User (IT & Telecommunication, Healthcare, Government, Enterprise, and Others), and By Region, Forecast Period 2023 – 2030.

As per the research report “Global IP Desk Phone Market” published by Consegic Business Intelligence, the market was worth USD 1,524.73 Million in 2022 and is anticipated to reach over USD 2,411.65 Million by the year 2030, growing at a CAGR of 6.2%.

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IP desk phones are physical hardware devices similar to a landline telephone that possess additional hardware for VoIP-enabled features. IP phone deploy Ethernet (RJ45) cables to transmit voice signals in the form of digital packets through the internet. Thus, IP desk phones are deployed in large enterprises to offer HD voice quality in order to streamline the communication systems of an enterprise.

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The increasing demand for efficient communication systems within the enterprise is driving the growth of IP desk phones market. IP desk phones enable video and audio calls within a local area network. The technology is widely adopted by companies due to its reliability, cost-effectiveness, ease of use, and call quality. For instance, in November 2022, Grandstream Networks, Inc. launched portable Wi-Fi IP desk phones that are integrated Zoom phone allowing businesses to pair zoom phones with IP Phone to create a flexible and mobile voice platform. Therefore, the increasing demand for high-quality communication systems in enterprises is accelerating the growth of the market.

The integration of advanced technologies such as Artificial Intelligence (AI) in IP desk phones is providing significant growth opportunities for IP desk phone market during the forecast period. Artificial intelligence has the potential to reduce the need for a human with chatbots to conduct complex tasks such as booking appointments, inviting attendees, or setting up meetings and more. Thus, the utilization of Artificial Intelligence (AI) in automating basic enterprise operations is growth opportunities for IP desk phone market. However, the security concerns associated with IP desk phones are hindering the growth of the market.

Report Attributes Report Details
Market Size By 2030  USD 2,411.65 Million
Forecast Period 2023-2030
CAGR (2023-2030) 6.2%
Base Year 2022
Study Timeline 2017-2030
Key Players ALE International, ALE USA Inc., Avaya LLC, Cisco Systems, Inc., D-Link, Escene, Grandstream Networks, Inc., Mitel Networks Corp., NEC Corporation, Plantronics, Inc., Yealink Inc.
By Type
  • Video Desktop IP Phone
  • Common Desktop IP Phone
By Connectivity
  • Wired
  •  DECT
  •  Wi-Fi
  •  Others
By End-User
  • IT & Telecommunication
  •  Healthcare
  •  Government
  •  Enterprise
  •  Others
Report Coverage Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more
By Region North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa


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Key Market Highlights

  • The Global IP Desk Phone Market size is estimated to reach USD 2,411.65 Million by 2030 and grow at a CAGR of 6.2% during the forecast period (2023-2030).
  • Globally, IP desk phone are divided based on the Type into Video Desktop IP Phone and Common Desktop IP Phone.
  • In the context of Connectivity, the market is separated into Wired, DECT, Wi-Fi, and Others.
  • Based on the End-User, the market is segregated into IT & Telecommunication, Healthcare, Government, Enterprise, and Others.
  • The market is geographically divided into five regions: North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
  • Asia Pacific and North America are estimated to support the market growth during the forecast period in terms of the large presence of market players combined with high expenditures on technological advancements in IP desk phone market.

IP Desk Phone Market Growth Drivers:

  • The increasing demand for high-quality communication systems in enterprises is driving the growth of the market.
  • The technological advancements in wireless communication systems such as Wi-Fi and Bluetooth connectivity is accelerating the growth of the market.
  • The emergence of Wi-Fi 6/6E communication technology is propelling the growth of the market.

Restraints

  • The increased dependence of IP desk phones on internet is hindering the growth of the market.
  • The limited mobility of IP desk phones is restraining the growth of IP desk phones market.

Opportunities

  • The incorporation of advanced technologies such as artificial intelligence (AI) in IP desk phones is presenting significant growth opportunities for the IP desk phone market.

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Global IP Desk Phone Market Segmentation Details:

Based on Type, the common desktop IP phone contributed the largest shares to the market growth in 2022. Common desktop IP phones are deployed in home offices and small businesses with access to broadband internet service. Common Desktop IP Phones eliminate the standard telephone lines as they use Ethernet cables for connectivity and offer advanced features in comparison to the traditional telephone systems.

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Based on Connectivity, wired segment offered substantial shares to the global IP desk phone market in the year 2022. Wired IP desk phones provide high security features in comparison to the wireless IP desk phones as it is connected through copper wires or Ethernet cables. Wired IP phones are highly secure and reliable communication systems that are used to place calls, send e-mails, and text messages effectively. Consequently, the ability of wired IP desk phones to ensure the privacy and security of communication systems is accelerating the growth of the market.

Based on End-User, the enterprise segment accounted for the maximum revenue share in the year 2022. The growing adoption of IP desk phones by large organizations and SMEs for efficient communication between the employees is propelling the growth of the market. Businesses are increasingly adopting VoIP infrastructure to provide efficient communication systems in order to support hybrid work culture in the organizations. Thus, IP desk phones provide convenience to the employees to work and connect with people according to their requirements and needs.

Based on region, The North American region has been a major contributor to the growth of the IP desk phone market. The growing number of commercial spaces such as corporate offices, education centers, and shopping malls is driving the growth of the market. Moreover, technological advancements in the region such as the development of IP phones with fifth-generation (5G) technology is accelerating the growth of the regional market.

Recent Developments

  • In January 2023, Yealink Inc. collaborated with Kramer to enhance the audio-visual experience in hybrid meeting spaces.
  • In November 2022, Grandstream Networks, Inc. introduced a new 12-line GRP2636 model that integrates with the Professional Carrier-Grade IP phones designed with zero-touch provisioning to provide an easy communication system.

List of Major Global IP Desk Phone Market Players

The market research report examines various market factors to determine the key drivers, limitations, and opportunities affecting market players. The report includes a SWOT analysis, regional analysis, and segment analysis to give a complete view of the market situation. This evaluation helps to identify possible growth opportunities through the implementation of technology, product utilization, business strategies, and the launch of new products. The following are major market players operating in the market environment —

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  • ALE International, ALE USA Inc.
  • Avaya LLC
  • Cisco Systems, Inc.
  • D-Link
  • Escene
  • Grandstream Networks, Inc.
  • Mitel Networks Corp.
  • NEC Corporation
  • Plantronics, Inc.
  • Yealink Inc.

Browse Full Market Overviews & TOC @ https://www.consegicbusinessintelligence.com/ip-desk-phone-market 

Global IP Desk Phone Market Segmentation: 

  • By Type
    • Video Desktop IP Phone
    • Common Desktop IP Phone
  • By Connectivity
    • Wired
    • DECT
    • Wi-Fi
    • Others
  • By End-User
    • IT & Telecommunication
    • Healthcare
    • Government
    • Enterprise
    • Others

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Autoclaved Aerated Concrete (AAC) Market growing at a CAGR of 6.2% from 2023 to 2030

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Robotic Process Automation (RPA) Market growing at a CAGR of 30.4% from 2023 to 2030

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Key Questions Covered in the IP Desk Phone Market Report

  • What is IP desk phone?

– IP Desk Phone is a communication device that facilitates two-way communication between sender and a receiver.  IP desk phones uses internet instead of wired cables to place calls, send e-mails and text messages. IP desk phones are deployed in shared workspaces, common areas, and open office designs to connect all the employees together with a single communication system.

  • What will be the potential market valuation for the IP desk phone market industry by 2030?

– The market for global IP desk phones is expected to reach USD 2,411.65 Million in 2030 growing at a CAGR of 6.2% due to the growing advancements in technology along with the increasing adoption of IP desk phones with advanced features.

  • What specific segmentation details are covered in the IP Desk Phone market report, and how is the fastest segment anticipated to impact the market growth?

– The report consists of segments including Type, Connectivity, and End-User. Each segment is projected to have the fastest growing sub-segment being fueled by industry trends and drivers. For instance, the Connectivity segment witnessed Wi-Fi as the fastest-growing segment during the forecast period. The increasing demand for advanced communication technologies such as Wi-Fi to support hybrid and remote working environments is accelerating the growth of IP desk phones market.

  • Which region is anticipated to witness the highest CAGR during the forecast period, 2023-2030?

– The Asia-Pacific region is expected to witness fastest-CAGR growth during the forecast period due to the growing culture of hybrid work environments in Asia-Pacific region as a result of COVID-19 pandemic. Moreover, the vast IT infrastructure in the region is contributing to the growth of the regional market.

About Consegic Business Intelligence Pvt Ltd

Consegic Business Intelligence Pvt Ltd. is the leading research industry that offers contextual and data-centric research services to its customers across the globe. The firm assists its clients to strategize business policies and accomplish sustainable growth in their respective market domains. The industry provides consulting services, syndicated research reports, and customized research reports.

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Topnotch research organizations and institutions to comprehend the regional and global commercial status use the data produced by Consegic Business Intelligence Pvt Ltd. Our reports comprise in-depth analytical and statistical analysis on various industries in foremost countries around the globe.

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Consegic Business intelligence Pvt Ltd

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Artificial Intelligence

ZA Tech Rebrands as Peak3, Raises US$35M Series A led by EQT

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SINGAPORE, June 19, 2024 /PRNewswire/ — ZA Tech, the next-generation insurance core system SaaS provider, has rebranded as Peak3. With the successful completion of its US$35 million Series A fundraising from EQT (lead investor) and Alpha JWC Ventures, Peak3 now accelerates its expansion in the EMEA region and investments in complementary data and AI solutions.

In a market dominated by fragmented legacy technology, Peak3 has pioneered a cloud-native, modular insurance core and distribution system that combines comprehensive capabilities for life, health, and property and casualty (P&C) insurance. Since its founding in 2018, Peak3 has become a trusted technology partner to global insurers such as AIA, Generali, Prudential, and Zurich for their digital and traditional business. It has also partnered with leading digital platforms such as Carro, Grab, Klook, and PayPay to build and scale their embedded insurance businesses.
Besides the successful fundraising, Peak3 has recently achieved key milestones underpinning the rebranding. These transformative achievements include launching its first multi-country, multi-tenant core modernisation in Europe, rolling out an integrated customer data and big data platform for scaling analytics and AI capabilities, and establishing its first technology centre in Europe. The rebranding coincides with another major milestone: Issuing over a billion insurance policies on Peak3’s systems – including the first policies issued to North American customers and the first ones to be issued in Africa.
“We have evolved from an embedded insurance pioneer in Asia to a global end-to-end technology partner for the insurance industry,” said Bill Song, Peak3 Group CEO and Co-Founder. “Our new name represents three pinnacles: scaling the heights of innovation, surpassing performance limits, and delivering superior reliability – as we help insurers reach the highest summits of their cloud, data, and AI transformation.”
Bill Song also emphasised the growth opportunity: “There is an incredible tech investment backlog in the US$7-trillion global insurance industry. Continued digitalisation and the proliferation of AI will require structural investments by insurers over the next decade to modernise their core systems. We are uniquely positioned to capture this opportunity by providing the tech core foundations and innovation use cases.” 
To accelerate its growth journey, Peak3 completed its Series A fundraising and welcomed two new investors on its cap table: EQT, a major global technology investor with a deep heritage in Europe, and Alpha JWC Ventures, a leading venture firm in Southeast Asia. With the funding, Peak3 will advance its analytics and AI capabilities toward an intelligent core insurance solution, grow its EMEA operations and establish new system integrator partnerships. Peak3 targets double-digit ARR growth this year and is on the path to reach cashflow breakeven over the coming quarters.
“Peak3 has also proven its capability to deliver greenfield digital insurance initiatives and complex multi-country core modernisation projects in APAC and EMEA. As the lead investor, EQT is committed to empowering Peak3 in its go-to-market acceleration by leveraging our global network,” stated Clara Ho, Partner at EQT.
J.P. Morgan acted as exclusive financial advisor to Peak3 for this Series A fundraising.
For media inquiries and interview requests, please contact Carling Sia, Global Head of Branding and Marketing, at [email protected].
For more information on Peak3, please visit www.peak3.com. For more information on EQT, please visit www.eqtgroup.com.For more information on Alpha JWC Ventures, please visit www.alphajwc.com.
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Lucinity Recognized as One of the Top 100 AI Fintech Companies Globally

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REYKJAVIK, Iceland, June 18, 2024 /PRNewswire/ — Lucinity has been featured in the AIFinTech100 list for 2024, marking its recognition as one of the top AI companies in the financial services industry. The AIFinTech100 list, curated by industry experts, highlights the most innovative fintech companies globally. Lucinity was selected from over 2,000 fintech firms for its problem-solving, market potential, innovation, and customer engagement. Earlier this year, Lucinity was also highlighted as a RegTech100 company.

 
 
This recognition comes amid rapid AI adoption in fintech. According to Fintech Global, research predicts the AI market in fintech will grow from $42.83 billion to $44.08 billion by 2024, reaching $50.87 billion by 2029. Banks alone are expected to spend $4.9 billion on AI platforms by 2024, with a 21.8% annual growth rate since 2019.
Lucinity’s inclusion in the AIFinTech100 list reflects its success in developing AI solutions that enhance efficiencies and cost savings for financial crime operations teams. Notably, Luci, the world’s first Generative AI copilot for financial crime investigations, launched in 2023, leverages Microsoft OpenAI technologies to augment human analysts’ capabilities, reducing investigation times from 3 hours to just 30 minutes. 
Lucinity also recently launched Luci as a copilot plugin at Money20/20. Financial institutions are now able to integrate Luci with any web-based enterprise application including CRM systems, Case Manager systems, and Excel, delivering immediate ROI with zero upfront integration. 
Security remains a significant challenge in AI adoption. Lucinity addresses this by partnering with Microsoft Azure develop a secure infrastructure. With a strong emphasis on compliance, Luci offers comprehensive auditability through its detailed Audit Log functionality.
Guðmundur Kristjánsson (GK), CEO of Lucinity, comments, “Being named in the AIFinTech100 showcases our impact amongst banks and fintech through advanced AI. It underscores our platform’s ability to empower compliance teams, deliver ROI, and reduce operational costs.”
Richard Sachar, Director of FinTech Global, added, “AI is revolutionizing financial services, increasing efficiencies and offering personalized products. This year’s AIFinTech100 list includes top innovators transforming the industry with AI applications.”
Lucinity’s inclusion in the AIFinTech100 list for 2024 follows several achievements, including winning the Microsoft Partner of the Year Awards for Sustainability and Social Impact and Partner of the Year – Iceland. Lucinity was also included in Chartis Research’s FinCrime and Compliance 50 Ranking for 2024 and was recognized as the best tool for Workflow Automation.
Name: Celina PabloEmail: [email protected] +354 792 4321
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CRISIL wins Model Validation Tools and Accelerators category award, other recognitions from Chartis

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Recognized among top 50 financial services firms for analytics and risk tech
MUMBAI, India, June 18, 2024 /PRNewswire/ — CRISIL, a global provider of advanced analytics and risk management solutions, has won the Solution Category award for Model Validation Tools and Accelerators as part of the latest Chartis STORM 2024 report.

Published by Chartis Research, the leading provider of research and analysis on the global market for risk technology, STORM 2024 is an annual report on quantitative technologies and the computational infrastructure supporting it.
Following an extensive evaluation process, which included a risk technology survey, product demo, customer reference checks, and third-party sources of information, CRISIL won the following recognitions:
Solution category award for Model Validation Tools and AcceleratorsRanked Top 25 (#24) in QuantTech50 2024 rankingsRanked Top 25 (#24) in BuySideRisk50 2024 rankingsRanked Top 50 (#38) in RetailFinanceAnalytics50 2024 rankingsThe recognitions reflect the unparalleled value CRISIL brings to its clients through deep domain expertise, specialized analytical and technical knowledge and our global perspective.
Says Jan Larsen, President and Head, CRISIL Global Research & Risk Solutions, “CRISIL is honored by the recognition across multiple STORM50 award categories this year, including being named first place for Model Validation Tools and Accelerators. This is a great testament to the contributions of our team in giving clients and their regulators confidence in the models they use for making critical decisions.”
The core tenets of CRISIL’s value proposition include expertise across asset classes and risk stripes, analytical excellence and regulatory experience, tailored solutions focused on client delight, continuous improvement and technological innovation. 
Says Ashish Vora, President, CRISIL Market Intelligence and Analytics, “This prestigious recognition underscores the global acceptance of our risk management solutions and highlights our unwavering commitment to excellence in the risk technology space. Our Credit+ technology solutions have been instrumental in offering AI-enabled advanced analytics and driving efficiency, and we are particularly proud of the exceptional client feedback we have received for these solutions. We are constantly exploring new ways to enhance customer value and are investing in cutting-edge technology and domain expertise to maintain our position at the forefront of the industry.”
Notable examples of CRISIL’s platforms that help demonstrate this value proposition include: 
Model Infinity: A leading platform for model inventory management and model risk management. This innovative platform empowers our client to centralize all model activities, eliminates manual processes and operational risk, and provides a full audit trail of approvals for modeling assumptions and updates. Scenario Expansion Manager (SEM): A platform for clients to expand, analyze and track all regulatory and internal scenarios used for stress testing. As a centralized repository of scenarios, SEM allows institutions to eliminate redundant internal work and even provide clients the ability to share internal scenarios with one another. Credit+ ICON: The platform enables credit decision-making through its extensive financial spreading and front-end based credit risk scorecard hosting capabilities. Powered by deep domain expertise, AI-driven analytics and extensive configurability, it serves 40+ global clients across 15 countries.Credit+ Early Warning Signals: The AI-powered solution provides banks with actionable insights to monitor their credit quality, lower loan-loss contingencies and track corrective action plan.About CRISIL Market Intelligence & Analytics
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CRISIL has taken due care and caution in preparing this press release. Information has been obtained by CRISIL from sources which it considers reliable. However, CRISIL does not guarantee the accuracy, adequacy or completeness of information on which this press release is based and is not responsible for any errors or omissions or for the results obtained from the use of this press release. CRISIL, especially states that it has no financial liability whatsoever to the subscribers/ users/ transmitters/ distributors of this press release.
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