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Contact Center Market to Grow by USD 161.73 Billion (2023-2027) as Cloud Adoption Soars, How AI is Driving Market Transformation – Technavio

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NEW YORK, Sept. 4, 2024 /PRNewswire/ — Report with the AI impact on market trends- The global contact center market size is estimated to grow by USD 161.73 billion from 2023-2027, according to Technavio. The market is estimated to grow at a CAGR of over 9.33% during the forecast period. Rising adoption of cloud-based contact centers is driving market growth, with a trend towards integration of chatbots for better turnaround times. However, inability to achieve an asa poses a challenge. Key market players include 8×8 Inc., ALE International, Alphabet Inc., Alvaria Inc., Amazon.com Inc., Ameyo Pvt Ltd., Atos SE, Avaya Holdings Corp., Cisco Systems Inc., Enghouse Systems Ltd., Five9 Inc., Genesys Telecommunications Laboratories Inc., Mitel Networks Corp., NEC Corp., NICE Ltd., SAP SE, Vocalcom Group, Vonage Holdings Corp., Zendesk Inc., and ZTE Corp..

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View the snapshot of this report

Contact Center Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017 – 2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 9.33%

Market growth 2023-2027

USD 161.73 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

8.89

Regional analysis

North America, APAC, Europe, South America, and Middle East and Africa

Performing market contribution

North America at 34%

Key countries

US, Australia, India, UK, and Germany

Key companies profiled

8×8 Inc., ALE International, Alphabet Inc., Alvaria Inc., Amazon.com Inc., Ameyo Pvt Ltd., Atos SE, Avaya Holdings Corp., Cisco Systems Inc., Enghouse Systems Ltd., Five9 Inc., Genesys Telecommunications Laboratories Inc., Mitel Networks Corp., NEC Corp., NICE Ltd., SAP SE, Vocalcom Group, Vonage Holdings Corp., Zendesk Inc., and ZTE Corp.

Market Driver

In a contact center, agents may need to ask callers to wait while they retrieve necessary data to resolve issues. Delays in response time can lead to customers seeking alternatives or switching to competitors. To address this challenge, contact centers are integrating chatbots into their processes. These automated tools provide instant responses to customers, resulting in faster turnaround times. Chatbots eliminate the dependency on repair personnel and offer direct solutions to customers, enhancing the overall customer experience. This integration not only improves response times but also enables enterprises to delight their customers without sacrificing the human touch. By providing efficient and effective solutions, chatbots contribute to the success of businesses and increase the adoption of contact center solutions. 

Contact centers are evolving with trends like autonomy and learning curve, allowing end users to manage interactions independently. OEMs provide CCaaS solutions, including Contact center platforms for Phone calls, Emails, Chats, and SMS marketing. AI and automation technologies, such as Virtual assistants and AI-powered chatbots like Meera, enhance customer engagement. Service providers ensure data protection policies align with AI/ML advancements. CX focuses on customer satisfaction, experience, and self-service interactions. Training and skill requirements adapt to virtual work. Telecommunications vertical continues to drive innovation. 

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 Market Challenges

Contact centers face a significant challenge in achieving a specified average speed of answer (ASA), a crucial performance indicator. The ASA measures the time a customer spends waiting in a queue and the time an agent’s phone rings. However, it does not account for IVR navigation time. To meet the desired ASA and service levels, contact centers must effectively manage their resources using workforce management (WFM) solutions. The increasing customer demand for superior services intensifies this challenge for vendors of contact center solutions.Contact centers face numerous challenges in today’s business landscape. AI and ML technologies require significant investment and integration with CRM systems. Social media’s growing importance brings new capabilities, but also brand value and impact risks. Automation and cloud services offer convenience, but security concerns and technical complexities loom. CFOs and CTOs grapple with IT spending decisions, while virtual work and customer satisfaction demand new training and skill requirements. Cloud service providers, technology, and solution providers, system integrators, and IT solution manufacturers offer solutions. However, the ecosystem’s complexity, multiple vendors, and dynamic customer demands pose challenges. Legacy systems and abandoned client queries lead to customer turnover. Social media influencers and word of mouth impact brand image. Emotions and sentiments must be addressed for optimal customer experience. Recession and technical complexities add to the pressure. Self-service bots and ML offer potential solutions, but require careful implementation.

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Segment Overview 

This contact center market report extensively covers market segmentation by

Type 1.1 Voice-based1.2 Text-based1.3 Social media-basedDeployment 2.1 On-premises2.2 Cloud-basedGeography 3.1 North America3.2 APAC3.3 Europe3.4 South America3.5 Middle East and Africa

1.1 Voice-based- Contact centers are shifting from voice-based interaction to IVR technology, live chat, and social media for customer queries. Voice interaction helps reduce query resolution time, but IVRs, an application using touch-tone keypads and voice inputs, offer live information through text-to-speech and access to databases. BSFI and logistics industries are major users. However, text-based and social media interaction’s popularity may decrease voice-based interaction’s market share. Vendors focus on advanced voice solutions for high call volumes, driving growth in customer care services across industries.

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Research Analysis

The Contact Center market is experiencing a significant transformation, driven by advanced technologies such as AI/ML, CRM, and automation. Cloud services have become the norm, enabling remote work and reducing IT spending. Security is a top priority, with CTOs and CFOs focusing on data protection and compliance. Customer satisfaction and experience are key metrics, with self-service interactions and brand impact becoming increasingly important. Abandoned client queries and customer turnover are major concerns, leading to the adoption of CCaaS solutions and contact center platforms. Social media plays a crucial role, with influencers shaping public perception and word of mouth driving business. Emotion recognition and ML-powered interactions offer new opportunities for personalized experiences, while the convenience of autonomy and learning curve challenges technical knowledge. Overall, the Contact Center market is evolving to meet the demands of modern consumers and businesses.

Market Research Overview

The Contact Center market is experiencing significant growth, driven by the adoption of advanced technologies such as AI/ML, CRM, and automation. Cloud services, including data centers and cloud computing providers like AWS, are also playing a major role in the industry’s expansion. Security and privacy are top priorities, with CFOs and CTOs increasing IT spending on data protection policies and customization options. Virtual work and self-service interactions are becoming the norm, with self-service bots and ML-powered chatbots providing convenience and autonomy for end users. Technical complexities and organizational factors can pose challenges, however, especially when dealing with legacy systems and multiple vendors. Dynamic customer demands require continuous training and skill development for contact center agents. Social media capabilities, including social media influencers and word of mouth, are increasingly important for brand value and impact. Emotion and sentiments are also key factors in customer satisfaction and experience. The ecosystem includes technology providers, cloud service providers, solution providers, system integrators, IT solution manufacturers, and OEMs. Telecommunications vertical and CCaaS solutions are also part of the Contact Center market landscape. However, economic downturns, such as recessions, can impact contact center spending, and technical knowledge and learning curve can be barriers for some end users. Despite these challenges, the Contact Center market continues to evolve, offering new opportunities for innovation and growth.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TypeVoice-basedText-basedSocial Media-basedDeploymentOn-premisesCloud-basedGeographyNorth AmericaAPACEuropeSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Chemours Announces Dates for Third Quarter 2026 Earnings Release and Webcast Conference Call

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WILMINGTON, Del., Oct. 21, 2026 /PRNewswire/ — The Chemours Company (“Chemours” or “the Company”) (NYSE: CC) today announced that the Company expects to issue its third quarter 2026 financial results after market on Monday, November 2, 2026.

The Company expects to hold its conference call to discuss its third quarter 2026 financial results at 8:00 a.m. Eastern Standard Time on Tuesday, November 3, 2026. The call is open to the public and can be accessed via the webcast information below. The webcast and materials can be accessed by visiting the “Events and Presentations” section of the Investor Relations section of Chemours’ website at investors.chemours.com.

Conference Call: Please visit investors.chemours.com for a link to the live webcast and to view the accompanying slides.

Replay: A webcast replay will be available at investors.chemours.com.

About The Chemours Company
The Chemours Company (NYSE: CC) is a global leader in providing industrial and specialty chemicals products for markets, including coatings, plastics, refrigeration and air conditioning, transportation, semiconductor and advanced electronics, general industrial, and oil and gas. Through our three businesses – Thermal & Specialized Solutions, Titanium Technologies, and Advanced Performance Materials – we deliver application expertise and chemistry-based innovations that solve customers’ biggest challenges. Our flagship products are sold under prominent brands such as Opteon™, Freon™, Ti-Pure™, Nafion™, Teflon™, Viton™, and Krytox™. Headquartered in Wilmington, Delaware and listed on the NYSE under the symbol CC, Chemours has approximately 5,700 employees and 28 manufacturing sites and serves approximately 2,400 customers in approximately 110 countries. For more information, visit chemours.com or follow us on LinkedIn. 

CONTACTS:

INVESTORS
Brandon Ontjes
Vice President, Head of Strategy & Investor Relations
+1.302.773.3300 
investor@chemours.com 

NEWS MEDIA
Cassie Olszewski
Media Relations & Reputation Leader
+1.302.219.7140
media@chemours.com  

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SOURCE The Chemours Company

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AGEDB Announces Preliminary Technical Evaluation of Graph Database and AI Data Platform Opportunities

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VANCOUVER, BC, Oct. 21, 2026 /CNW/ — AGEDB Technology Ltd. (TSXV: AGET) (“AGEDB” or the “Company”) announces that it is evaluating opportunities to re-engage in its historical graph database business area through preliminary architectural design and technical assessment of potential AI data platform applications, following its entry, on September 16, 2026, into a memorandum of understanding (the “MOU”) with a Korea-listed company exploring opportunities to enter the AI sector (the “Korean Company”).

The Company previously disclosed that it had discontinued its graph database management system operations during the year ended April 30, 2025 and was seeking new business opportunities. The Company is now assessing potential opportunities to leverage its existing Apache AGE-related technology and experience. These preliminary evaluations should not be interpreted as a resumption of full-scale development or commercial operations.

Under the MOU, AGEDB and the Korean Company contemplate evaluating an integrated package combining locally installed PostgreSQL and Apache AGE relationship-analysis database technology with an AI agent. The MOU also contemplates a separate “Personal AI Operating System” evaluation track, referred to as “AGE Brain,” for potential use in user-controlled computing environments. The proposed applications remain conceptual and subject to further technical and commercial assessment.

The contemplated preliminary work includes architectural design and technical evaluation of approaches to connecting relational data with graph-based relationships and supporting AI-assisted information retrieval and analysis. The parties may consider proof-of-concept testing and pilot activities, but no timeline or commitment to undertake such activities has been established under the MOU.

The MOU has a one-year term. Except for provisions expressly identified as binding, it is non-binding and does not require either party to complete development, launch or commercialize a product, make an investment, commit personnel, pay development fees, or enter into a definitive commercial agreement. Specific project scope, deliverables, schedules, responsibilities, costs and any commercialization terms remain subject to further discussions and, where applicable, separate written agreements. Each party will bear its own evaluation costs unless otherwise agreed in writing.

The Company’s evaluation remains preliminary. No product launch, commercial revenue or definitive commercialization arrangement has been agreed, and there can be no assurance that the parties will proceed with development, that the proposed platform will be completed or commercialized, or that the Company will obtain the resources required to advance the opportunity.

AGEDB may also explore potential collaborations with AI development companies in Korea and other markets, subject to available resources and further assessment.

AGEDB Technology Ltd.

On behalf of the board of directors,

“Jungsoo Kim”
CEO

About AGEDB Technology Ltd.

AGEDB Technology Ltd. is a technology company listed on the TSX Venture Exchange under the symbol “AGET.” The Company is focused on developing and pursuing opportunities in data intelligence, graph database technology and applied artificial intelligence.

Forward-Looking Information

This news release contains forward-looking information, including statements regarding the Company’s development activities, the proposed AI data platform, potential proof-of-concept and pilot activities, and possible future collaborations and commercialization. Forward-looking information is based on management’s current expectations and assumptions and is subject to risks and uncertainties that could cause actual results to differ materially. The memorandum of understanding is generally non-binding, and there can be no assurance that the parties will proceed with or complete any development, pilot, product launch or commercial arrangement, or that AGEDB will enter into additional collaborations. Readers are cautioned not to place undue reliance on forward-looking information. AGEDB undertakes no obligation to update such information except as required by applicable securities laws.

SOURCE AGEDB Technology Ltd.

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Bose Corporation Acquires Skullcandy, Expanding Its Consumer Audio Portfolio to Reach New Audiences

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Acquisition follows a successful partnership between the two companies and advances Bose’s evolution into a multi-brand products and technology company

FRAMINGHAM, Mass. and PARK CITY, Utah, Oct. 21, 2026 /PRNewswire/ — Bose Corporation, a global leader in audio innovation and research, announced today it has acquired Skullcandy, a lifestyle audio brand known for its bold products that bring together sound, style and performance. Bose and Skullcandy have each spent decades finding new ways to bring people closer to the music they love. Together, they’ll combine Bose’s audio expertise, technology and global reach with Skullcandy’s design, understanding of its consumers and authentic community connections to create new products and experiences and accelerate growth.

The acquisition follows a multi-year partnership that has already brought Sound by Bose technology to Skullcandy earbuds and headphones. The companies have seen firsthand how their strengths can come together to create products consumers love while staying true to what makes Skullcandy special, providing a foundation to accelerate further collaboration and innovation.

With a strong position at the intersection of audio, lifestyle and culture, Skullcandy will remain a separate brand within Bose’s Premium Consumer Audio business. Skullcandy’s deep roots in boardsports, including longstanding relationships with passionate supporters of the culture and its athletes, and authentic connections across music, gaming, fitness and other communities present new ways for Bose to meaningfully connect with consumers where it has less presence today.

“For more than 60 years, Bose has been committed to delivering incredible audio experiences however and wherever people choose to listen. As we work to reach even more people, we’re expanding how we do that, not only through Bose products, but through technology partnerships and a growing portfolio of brands,” said Lila Snyder, Chief Executive Officer of Bose Corporation. “As a privately held company, we have the freedom to make bold, long-term investments in opportunities we believe in, and Skullcandy is a great example of that. They have an established, thriving brand, and together we see tremendous opportunity to create new products and experiences and reach more consumers around the world.”

“We believe this is a win for Skullcandy and our fans,” said Brian Garofalow, Chief Executive Officer of Skullcandy. “Skullcandy was born on a chairlift in Park City, Utah, over 20 years ago, and we’ve always believed great music should be part of the experiences people love. Joining Bose gives us the opportunity to make those experiences even better by bringing more of their audio expertise and technology to our products, and it opens up even more ways to take Skullcandy further.”

Bose plans to invest in Skullcandy’s continued growth, providing greater access to technology, resources, global distribution and commercial relationships while giving the brand the freedom to continue evolving in ways that are authentic to its identity and consumers. Skullcandy will continue to be based in Park City, Utah.

Bose acquired Skullcandy from a fund managed by Mill Road Capital Management LLC, a Connecticut-based private investment firm. Jones Day acted as Bose’s legal counsel. Additional information, including financial and other terms of the transaction, will remain confidential.

About Bose Corporation
Bose Corporation is a global leader in audio innovation, driven by a singular belief: sound has the power to transform the way people connect with the world. For more than 60 years, Bose has combined pioneering research, engineering excellence, and a deep understanding of human perception to create products and technologies that deliver extraordinary experiences. Through its portfolio of iconic brands, including Bose, McIntosh, Sonus faber, and Skullcandy, the company offers premium and luxury audio solutions for the home, on the go, and in the car. Bose also collaborates with leading companies across industries, extending its audio expertise and technologies into new products, platforms, and applications beyond its own brands. 

Guided by a relentless spirit of innovation and a passion for what sound makes possible, Bose continues to advance the science and art of sound while expanding its impact on everyday life. From music and entertainment to communication, wellness, and emerging applications, Bose is creating new ways for people around the world to feel more connected, inspired, and engaged through the power of sound.

About Skullcandy
Founded in 2003 on a chairlift in Park City, Utah, Skullcandy is the original lifestyle audio brand. With deep roots in action sports culture, Skullcandy creates headphones, earbuds, and speakers that deliver powerful sound, bold style, and immersive experiences. Designed to move with you—from the mountains to the streets—Skullcandy gear is built to perform and made to stand out. Learn more at www.Skullcandy.com.

Contact

Joanne Berthaume
Joanne_berthaume@bose.com

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SOURCE Bose Corporation

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