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At 11.7% CAGR, Video Conferencing Market Size to hit USD 10.20 Billion, globally by 2028, says Brandessence Market Research

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According to Brandessence Market Research, the Video Conferencing Market size reached USD 4.70 Billion in 2021. The video conferencing market is likely to grow at robust CAGR of 11.7%, and reach size of USD 10.20 Billion by 2028 end. The Enhancement In Productivity Amongst The Labor Force Of The Enterprises Via Video Conferences Is Predicted To Trigger The Market

The enhancement in productivity amongst the labor force of the enterprises via meeting and video conferences is predicted to trigger the market during the forecast period for enterprise video conferencing. There is a continuous extension of internet-supported services to improve the quality of video conferencing and launch of fast internet networks has powered the requirement for enterprise video conferencing over the last years. Furthermore, increasing popularity of cloud based conferencing and managed video conferencing as well as improved video-interfaces are some of the major factors that will further power the growth of the market for video conferencing all over the world in future.

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Along with growing digitalization, the penetration of video conferencing for education, tutoring, international conferences, business meetings, among others remain key drivers of growth. Companies in the education sector grow strong promise to make education more interactive and fun for students. The growing demand for quality education globally, and increased importance of technology education like coding, web-based developments, creation of apps, among other remain key drivers of growth in the education sector.

Key Companies Covered in Video Conferencing Market

Array Telepresence Inc., Adobe Systems Inc., Cisco Systems, Inc., Avaya Inc., Logitech International S.A., Polycom Inc., West Corporation, Vidyo Inc., Huawei Technologies Co., Ltd, Polycom Inc, Logitech International S.A, Zoom Video Communications, Inc, and Microsoft Corporation.

According to the US department of Labor and Bureau, 31% total US workers switched to remote work during the pandemic. Although remote work was a popular work option, even before the pandemic, many people switched to working from home, due to global lockdowns, and safety measures. Furthermore, many workers continued to work from home, during the pandemic, signaling a strong desire to work remotely, and continued presence of the global pandemic. Moreover, the US bureau also reported that 37% of all jobs can be performed from home, making it a promising future prospect even after the pandemic. The US labor bureau estimates that nearly 7.4 million people were already working from home, before the pandemic began.

Video Conferencing Market: An Overview

Video conferencing isn’t just a trend that will fade away with time. According to latest human resource reports, many employees are willing to take a pay-cut to work from home, because they believe they will be less distracted at home, spend more time with family, reduce travel and living expenses, among various other benefits. Furthermore, in the global business culture, virtual collaboration with internal teams, suppliers, customers, and investors has become essential. This has led to decreased costs in facilities like offices, reduced travel expenses for global conferences, and growing collaboration among international stakeholders. The growing demand for video teleconferencing is likely to stay. The key question is – what is the best way to capture the rising opportunities, and establish a non-replaceable presence, globally.

Key companies like Zoom in the video conferencing market have positioned themselves with large free-to-use platforms. Moreover, non-professionals versions of products like Microsoft’s Teams also show similar growth strategy. Hence, acquiring large consumer market share with a universal, mass-produced, and democratic approach to product development remains key. On the other hand, specialized private access to business executives, investors, and other high-value internal stakeholders also promises growth in the global video conferencing market. Amidst the growing demand due the pandemic, and increased demand for education activities on Zoom led to the company posting a profit of USD 2.6 billion in revenues in 2020, with an increase of over 300% from the previous year. Moreover, the participation on the app increased by nearly 3000%, with nearly 500,000 business subscribers in December 2020. The tremendous growth in video conferencing led the company’s valuation to over USD 100 billion in 2020, and similar numbers are reported for Microsoft Teams. For example, the Microsoft 365, the company’s signature offering encompassing a complete solution resulted in over 145 active users in 2021 (for Teams), with the complete suit garnering over 300 million paid subscriptions.

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Video Conferencing Market: Key Trends

As noted with the example of Microsoft, the demand for holistic solutions remains high. Video conferencing solutions are rising in demand as part of the larger ecosystem. Companies like Google, Microsoft, and Zoom have proven this trend. Microsoft Teams, despite entering the market later than Zoom have managed to surpass growth of the Zoom app in recent months, with end-users increasingly opting for a secure brand, and feature-rich platforms as opposed to a quick access, which was important earlier. High stability of the application, along with features to share notes, videos, cloud-based storage, user-friendly interface are becomingly increasingly important for end-users.

Video Conferencing Market: Regional Analysis

The video conferencing market report is divided into key regions of North AmericaEuropeAsia PacificLatin America, and Middle East & Africa. Among these, the North America promises robust growth, as presence of key global technology firms like Microsoft, Google, and high volume of international collaboration remain key features of the business culture. Furthermore, the large penetration of electronic devices like smartphones, laptops, with increased government initiatives to provide chrome-based low-cost devices to every learner in the country have also led to tremendous growth fo the video conferencing market. Similarly, regions like Asia Pacific, with increased low-cost penetration of android devices, large establishment of the IT sector, and growing emergence of app development remain promising region for growth.

On Special Requirement Video Conferencing Market Report is also available for below region:

North America

U.S, Canada

Europe

Germany, France,U.K., Italy, Spain, Sweden, Netherland, Turkey, Switzerland, Belgium, Rest of Europe

Asia-Pacific

South Korea, Japan, China, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest Of APAC

Latin America

Mexico, Colombia, Brazil, Argentina, Peru, Rest of Latin America

Middle East and Africa

Saudi Arabia, UAE, Egypt, South Africa, Rest Of MEA

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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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