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Global Video Conferencing Market Could Exceed $9 Billion By 2026

Palm Beach, FL – January 8, 2020 – One of the markets that is actually growing not only during… but because of the global pandemic. Remote working and video conferencing go hand-in-hand in this upswing and both markets are projected significantly increase revenues in the coming years. Remote work, home office, work from home, telework are some of the terms used to describe settings where workers are not physically present in the office of their employer or the purchaser of their services. The concept mainly works for jobs and tasks that involve a large amount of screen work. (including marketing and sales functions).  The advancement of digitalization and the shift to a more knowledge-based economy in many countries have made the option of remote work more realistic for employers and employees. For example, roughly half of all jobs could be done in a remote setting in the United States. A recent report from Statista said that: “The increasing availability of stable, reliable, and fast fixed and mobile broadband connections, along with the rise of cloud computing, provides the backbone infrastructure for work from home. The steady growth of cloud solutions offers companies and workers alike the flexibility to have access to data and tools from anywhere.”   Active companies in the markets this week include Verb Technology Company, Inc. (NASDAQ: VERB), Zoom Video Communications, Inc.(NASDAQ: ZM), Cisco Systems, Inc. (NASDAQ: CSCO), Microsoft Corporation (NASDAQ: MSFT), 8×8, Inc. (NYSE: EGHT).

 

The Statista Report continued: “Spending… on cloud-based business applications, collaboration tools, cybersecurity, and remotely managed IT services are projected to grow by almost 100 billion U.S. dollars over the next few years for example. Spending for on-premises solutions is forecast to stay nearly flat on the other hand. Placed on top of the fundamental infrastructure, collaboration and communication tools provide the necessary services to work collaboratively as a team in remote settings. In line with the growth trend of the cloud market, the revenue from the cloud email and collaboration market is set to double in size by 2024 compared to 2020 and is projected to be worth around 81 billion U.S. dollars annually, almost doubling its projected size in 2020.”  Meanwhile in a collaborative market, the video conferencing market, also shows increased revenues. The two-way transmission of audio and video content by using telecommunication devices is referred to as video conferencing. Video conferencing plays important role in the business processes by saving traveling time and cost to the organization.

 

Verb Technology Company, Inc. (NASDAQ: VERB) BREAKING NEWSVERB Technology Ranked #1 by Social Selling News’ Rankings for Direct Selling Apps Verb Technology Company, Inc., a leader in interactive video-based sales enablement applications, including interactive livestream ecommerce, webinar, CRM and marketing applications for entrepreneurs and enterprises, today announced that it was ranked first in Social Selling News’ January 2021 The Ranks list for companies that provide apps for direct selling, ranked by the number of clients invoiced over the past 12 months. VERB led the list with 103 direct selling clients, almost double its closest competitors, confirming its dominant position in the direct selling industry.

 

Social Selling News is the direct selling industry’s go-to source for news and actionable insights, and delivers direct selling channel professionals the latest in trends and developments in the world of direct selling. Each month, it issues a list called The Ranks that highlights companies, people or trends important to the direct selling channel.

 

VERB’s sales enablement solutions bridge the gap between effective in-person selling and remote work and communications by providing powerful and easy-to-use interactive video-based features in its four direct selling solutions: verbCRM, its customer relationship management (CRM) tool for sales lead generation and content management with clickable in-video ecommerce capabilities for large sales enterprises; verbLIVE, its livestream ecommerce and webinar product, which combines the best features of popular livestream platforms such as Zoom, Facebook Live and WebEx with clickable in-video shopping capabilities, including Shopify; verbTEAMS, a self on-boarding version of verbCRM for small businesses and solo entrepreneurs with verbLIVE and one-click Salesforce synchronization built-in, as well as enhanced content management capabilities; and verbLEARN, a gamified learning management system for education and training with clickable in-video technology. verbLIVE is fully integrated with Salesforce, and soon with Microsoft Outlook.

 

“We are thrilled to see continued traction for the VERB platform,” said Rory J. Cutaia, VERB CEO. “With verbLIVE, our livestream ecommerce solution that we are showcasing at CES 2021 next week, our users are seeing higher productivity as they are able to increase client and prospect engagement and drive sales conversion rates remotely, in a friction-free, video-based setting that also provides useful real-time analytics on viewer engagement. We look forward to continuing our strong 2020 momentum throughout 2021.”   Read the first entire release and more news for VERB at:  https://www.financialnewsmedia.com/news-verb/  

 

Additional recent developments include:

 

Zoom Video Communications, Inc.(NASDAQ: ZM) recently announced that it will expand its presence in Singapore by opening a new Research and Development Center, where it will hire hundreds of key engineering headcount. Zoom will also expand its co-located data center in the country. This commitment represents a growing strategic investment in the country, where Zoom has already had a presence for 2 years.

 

This expansion into Singapore will supplement Zoom’s existing R&D centers in the US, India, and China, and support Zoom’s engineering leadership, which is based at its San Jose, California headquarters. Zoom selected Singapore for its exceptional engineering talent. The company has already begun recruiting engineers in the area and looks forward to selecting office space as pandemic-related remote work subsides.

 

Cisco Systems, Inc. (NASDAQ: CSCO) AppDynamics, part of the Company and the world’s #1 APM solution and full-stack, business centric observability platform, recently announced the availability of its Software-as-a-Service (SaaS) offering in Asia, enabling customers to access AppDynamics solutions via a local cloud location. Situated in India and built on the Amazon Web Services (AWS) Mumbai region, the offering is available to AppDynamics customers in India and throughout Asia. Enterprises can now accelerate their digital transformations through faster access to the latest AppDynamics innovations and industry-leading AIOps solutions.

 

This is the fourth SaaS offering location offered by AppDynamics. Existing regions include Asia Pacific (Australia), the European Union (Germany), and North America (US). This newest addition confirms AppDynamics’ focus and continued investments in India and the wider region.  “AppDynamics’ SaaS offering in Asia opens up a whole new market – particularly in India – and creates a real and differentiated value proposition for our existing and prospective customers. Enterprises can now choose our industry leading, business centric observability platform via a local SaaS offering and deploy AppDynamics solutions more rapidly and drive faster outcomes for their businesses. AppDynamics is committed to the region and helping enterprises deliver flawless digital experiences to customers and employees,” said Abhilash Purushothaman, Managing Director for India & SAARC, AppDynamics.

 

Microsoft Corporation (NASDAQ: MSFT) recently, MSFT and leading organizations across the U.S. financial services, technology and academic industries announced the formation of a new National Council for Artificial Intelligence (NCAI). The council brings together the Brookings Institution, CUNY, the Federal Reserve Bank of New York, Mastercard, Microsoft, Nasdaq, Plug and Play, SUNY, University of Central Florida, and Visa with the goal of maximizing technology to jointly solve specific issues of interest to the industry.

 

“The goal of the newly created NCAI is to establish a pragmatic coalition with public-private partnerships in the financial services sector to identify and address significant societal and industry barriers,” said Gretchen O’Hara, vice president of AI and sustainability strategy, Microsoft U.S. “I am excited about the launch of our distinguished board, and the continued momentum to work with the members of this coalition to better serve the needs of our stakeholders and communities through AI innovation.”

 

8×8, Inc. (NYSE: EGHT), a leading integrated cloud communications platform provider, recently announced that the Loya Insurance Group, a leading auto insurance company, has deployed the 8×8 Open Communications Platform™ to transform all communications, collaboration and customer engagement onto a single cloud platform for its more than 3,500 employees across over 700 offices in the US.

 

Starting from a single store front in El Paso, Texas in 1974, the Loya Insurance Group has grown to be one of the largest Hispanic owned and operated companies in the United States with offices throughout Texas, Ohio, California, New Mexico, Colorado, Georgia, Nevada, Illinois, Arizona, Indiana, and Alabama. The company was expanding due to increasing demand for its affordable auto insurance, but was hampered by having disparate, legacy on-premises communications and contact center systems that were costly to maintain, difficult to centrally administer, and could not ensure business resilience and productivity for a remote and mobile workforce.

DISCLAIMER:  FN Media Group LLC (FNM), which owns and operates Financialnewsmedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels.  FNM is NOT affiliated in any manner with any company mentioned herein.  FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security.  FNM’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities.  The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material.  All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks.  All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release.  FNM is not liable for any investment decisions by its readers or subscribers.  Investors are cautioned that they may lose all or a portion of their investment when investing in stocks.  For current services performed FNM expects to be compensated forty five hundred dollars for news coverage of the current press releases issued by Verb Technology Company, Inc. by the Company.  FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

 

This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.

 

Contact Information:

Media Contact email: editor@financialnewsmedia.com – +1(561)325-8757

 

SOURCE Financialnewsmedia.com

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