Connect with us

Technology

Contact Center Market to Grow by USD 208.2 Billion from 2024-2028, as Cloud-Based Solutions Drive Revenue with AI Redefining the Market Landscape – Technavio

Published

on

NEW YORK, Nov. 11, 2024 /PRNewswire/ — Report with market evolution powered by AI – The global contact center market size is estimated to grow by USD 208.2 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 10.7% 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 LLC, 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..

AI-Powered Market Evolution Insights. Our comprehensive market report ready with the latest trends, growth opportunities, and strategic analysis- View Free Sample Report PDF

Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Type (Voice-based, Text-based, and Social media-based), Deployment (On-premises and Cloud-based), and Geography (North America, APAC, Europe, South America, and Middle East and Africa)

Region Covered

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

Key companies profiled

8×8 Inc., ALE International, Alphabet Inc., Alvaria Inc., Amazon.com Inc., Ameyo Pvt Ltd., Atos SE, Avaya LLC, 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 Market Trends Fueling Growth

Contact centers are evolving to meet the changing needs of businesses and customers. AI and ML are trending technologies, enhancing CRM systems and social media capabilities. Automation and cloud services are key areas of IT spending, with CFOs and CTOs prioritizing security and data protection. Virtual work is on the rise, impacting customer satisfaction and experience. Self-service interactions through chatbots and virtual assistants are convenient for end users, but require technical knowledge and a learning curve. Cloud service providers, solution providers, system integrators, and IT solution manufacturers are part of the contact center ecosystem. Brands value social media influence and word of mouth, but face abandoned client queries and customer turnover. Emotion and sentiment analysis are important for brand image. Technical complexities and organizational factors can hinder implementation, especially with legacy systems and multiple vendors. Dynamic customer demands require flexible CCaaS solutions, including phone calls, emails, chats, and SMS marketing. Data security and privacy are paramount, with customization options and data protection policies essential. AWS and Five9 are major players in cloud computing and contact center platforms, respectively. The telecommunications vertical and CCaaS solutions are key areas of growth. OEMs focus on customer engagement management. ML and self-service bots offer autonomy and convenience, but require careful implementation. 

In a contact center, agents interact with callers to address their queries or concerns. Delayed responses from agents can lead to customer dissatisfaction and potential loss of business. To mitigate this issue, contact centers are exploring the use of chatbots to handle simple queries efficiently, freeing up human agents for more complex issues. Effective customer service is crucial for business success. By implementing chatbots, contact centers aim to enhance their service delivery and improve overall customer experience. 

Insights on how AI is driving innovation, efficiency, and market growth- Request Sample!

Market Challenges

Contact centers face numerous challenges in today’s business landscape. AI and ML technologies require significant investment and technical expertise to implement effectively. CRM integration, social media capabilities, and automation are essential for enhancing customer experience, but they add complexity to the ecosystem. Cloud services, including AWS, offer cost savings and flexibility, but security and privacy concerns persist. CFOs and CTOs prioritize IT spending on contact center solutions, while virtual work and self-service interactions demand new skill sets. Training end users and managing technical complexities can be challenging, especially with legacy systems and multiple vendors. Dynamic customer demands necessitate flexibility and agility from technology providers, solution providers, system integrators, and IT solution manufacturers. Self-service bots and ML offer convenience and autonomy, but they come with a learning curve and technical knowledge requirements. Security and data protection are critical concerns, with data centers and cloud computing at the forefront. Recession and brand value are also factors, with abandoned client queries and customer turnover impacting brand image and social media influencers shaping brand impact through word of mouth. Emotion and sentiments play a significant role in customer satisfaction and engagement management. Telecommunications verticals require CCaaS solutions, including phone calls, emails, chats, and AI-powered chatbots, to meet evolving customer needs. In summary, contact centers face a complex landscape with challenges ranging from technical complexities and organizational factors to security concerns and dynamic customer demands. AI, cloud services, CRM, social media, and automation are key areas of investment, but they require careful planning and execution to deliver optimal customer experience and engagement.Contact centers face a significant challenge in achieving a specified average speed of answer (ASA) for both inbound and blended operations. ASA is a crucial key performance indicator (KPI) that evaluates team performance and agent efficiency. It measures the total time a customer spends waiting in a queue and the time the agent’s phone rings. However, it does not account for the time taken for customers to navigate through Interactive Voice Response (IVR) systems. Contact centers must employ workforce management (WFM) solutions to optimally allocate resources, ensuring they meet the desired ASA and service levels. With increasing customer expectations for superior services, this challenge is a major concern for contact center solution providers.

Insights into how AI is reshaping industries and driving growth- Download a Sample Report

Segment Overview

This contact center market report extensively covers market segmentation by

Type1.1 Voice-based1.2 Text-based1.3 Social media-basedDeployment2.1 On-premises2.2 Cloud-basedGeography3.1 North America3.2 APAC3.3 Europe3.4 South America3.5 Middle East and Africa

1.1 Voice-based- Contact centers are expected to see a decrease in the use of voice-based interaction during the forecast period. This trend is driven by the increasing popularity of IVR technology, live chat, and social media-based interaction. IVRs, which use a touch-tone keypad and voice telephone inputs, are connected to larger applications that access databases to provide suitable responses. They use text-to-speech to provide live information. The banking, financial services, and insurance (BSFI) sector, as well as logistics, are major users of IVRs for phone banking and packet trace. However, the rise of text-based interaction and social media-based support is leading to a decrease in the market share of voice-based interaction.

Download complimentary Sample Report to gain insights into AI’s impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2018 – 2022) 

Research Analysis

The Contact Center market is experiencing significant growth due to the increasing importance of exceptional customer experience and satisfaction. AI/ML and automation are transforming contact centers, enabling faster response times and personalized interactions. CRM integration facilitates a unified view of customer data, while cloud services ensure scalability and flexibility. Security is a top priority, with advanced encryption and authentication methods protecting sensitive customer information. CFOs and CTOs are key decision-makers in contact center investments, prioritizing IT spending on solutions that improve customer experience, reduce abandoned client queries, and minimize customer turnover. Virtual work and self-service interactions are becoming increasingly popular, offering convenience and autonomy for both agents and customers. Brand impact, emotion, and social media influence are critical factors in contact center success. ML algorithms analyze customer interactions to improve brand image and reduce negative sentiment. Social media channels provide valuable insights into customer preferences and feedback, while word of mouth remains a powerful marketing tool. CCaaS solutions and contact center platforms offer advanced features, including real-time analytics, omnichannel support, and seamless integration with other business applications. The learning curve for implementing these technologies can be steep, requiring technical knowledge and expertise. However, the benefits – including increased efficiency, improved customer satisfaction, and enhanced brand reputation – make the investment worthwhile.

Market Research Overview

The Contact Center market is experiencing significant transformation driven by advanced technologies such as AI/ML, CRM, and automation. Cloud services are becoming the norm, with cloud spending on the rise, even during economic downturns. CFOs and CTOs are prioritizing IT spending on contact center solutions to enhance customer satisfaction and experience. Virtual work is increasingly popular, enabling agents to work from anywhere. Self-service interactions through AI-powered chatbots and virtual assistants are on the rise, but human agents are still essential for handling complex queries. Training and skill requirements are evolving, with a focus on emotional intelligence and social media capabilities. The ecosystem includes technology providers, cloud service providers, solution providers, system integrators, IT solution manufacturers, and OEMs. Security and data protection are critical concerns, with data centers and cloud computing providers offering data security policies. The telecommunications vertical is adopting CCaaS solutions for contact center platform needs, supporting phone calls, emails, chats, and SMS marketing. ML and automation offer convenience and autonomy but come with a learning curve and technical complexities. Organizational factors and legacy systems can pose challenges, as can dynamic customer demands and multiple vendors. Emotion, sentiments, brand image, and customer engagement management are key considerations, with social media influencers and word of mouth playing a significant role in brand impact.

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/

View original content to download multimedia:https://www.prnewswire.com/news-releases/contact-center-market-to-grow-by-usd-208-2-billion-from-2024-2028–as-cloud-based-solutions-drive-revenue-with-ai-redefining-the-market-landscape—technavio-302300053.html

SOURCE Technavio

Continue Reading

Technology

Karma Automotive Announces Eximius, the Bespoke Vehicle Program for Elite Clients Seeking Singular Expressions of Extreme Performance and Bold Craftsmanship

Published

on

By

The First Eximius Creation, “Eximius 1,” is a Menacing Four-Seater Built for the Track which Makes its World Premiere at the 2026 Concours at Wynn Las Vegas

LAS VEGAS, Oct. 31, 2026 /PRNewswire/ — Karma Automotive builds vehicles in the hundreds rather than the thousands, attracting a highly individualistic clientele seeking a unique statement. For those who wish to go further still, and explore new possibilities beyond the extensive options for personalization available through the Studio program, Karma has created the Eximius bespoke vehicle program. Eximius clients may modify the vehicle’s body, performance and powertrain, collaborating with Karma’s design and engineering teams to build a One-of-One statement which will never be repeated.

Karma Eximius clients may modify the vehicle’s body, performance and powertrain to build a One-of-One statement

The first vehicle from Karma Eximius debuts today at the 2026 Concours at Wynn Las Vegas. A menacing four-seater purpose-built for the track, “Eximius 1” is in ongoing development with its commissioning client, who is not revealed at this time. Upon delivery in 2027, “Eximius 1” will be fitted with an extreme-performance Plug-in Series Hybrid utilizing a 6.2 Liter V8 producing nearly 1200hp (550hp ICE, 645hp battery), delivering acceleration from 0-60mph in 2.7 seconds and a top speed in excess of 200mph (estimated). As these parameters would demand, “Eximius 1” will be equipped with carbon-ceramic brakes and two-piece slotted brake rotors, and Ohlins semi-active suspension.

“‘Eximius 1’ began as a conversation with an elite client who loves their Karma Revero, but wanted something more extreme and unexpected, which was music to our ears,” says Marques McCammon, President and Chief Executive, Karma Automotive. “The Eximius program effectively deletes the word ‘no’ from conversations about what’s possible,” he continues, “and as a four-seat track weapon packing what’ll be the most powerful Plug-in Series Hybrid powertrain and vehicle ever developed, ‘Eximius 1’ shatters expectations and further establishes Karma as a manufacturer of exotic, uniquely American vehicles.” 

Exterior Design
“Eximius 1” is an imposing vehicle to behold, exhibiting the muscularity and eyepopping strength of a superhero. Every panel – excluding the body surface outer – is constructed of pre-impregnated carbon fiber, and the vehicle is 50mm wider due to its wheel arch extensions. The front doors and hood have a unique technical fade from glossy, exposed regular carbon fiber to signature Borealis Blue paint.

The front carbon splitter sets an aggressive tone and is flanked by massive side air intakes incorporating Karma’s Target Acquisition Lighting, rotated 45º to create a distinctive ‘><‘ DRL graphic identity. On the hood, the dramatic arc of the Comet Line – which is inspired by Halley’s Comet is it streaks across the evening sky – widens from its apex towards the base of the windshield; vents above the front fenders release air pressure from the wheel housings and add further visual intrigue. Moving to the side of the vehicle, the front fenders aft of the wheels feature Karma’s signature “Backslash” bearing the number “5,” which is of particular significance to the commissioning client. 21″ Magnesium wheels with center-locks reduce rotating and unsprung mass, and are finished in satin black. Aft of the driver’s side front wheel, twin exhaust tips announce the fearsome new powertrain.

The full-width rear GT wing maximizes stability and downforce at high speeds, and continues the distinctive ‘><‘ DRL graphic identity established at the front of “Eximius 1.” The rear fascia also boasts large side air intakes which are connected by a dominant diffuser to manage underbody airflow.

Interior Design
An aura of intensity continues to the interior of “Eximius 1.” In concert with the exterior, blue-tinted carbon-fiber adorns the seats, flat-bottom steering wheel and doors; for aesthetics and weight-savings, all four doors are manufactured in exposed carbon fiber with one purposeful arm pad on each door. The seats, which are Recaro carbon fiber buckets up front, are trimmed with blue Alcantara and blue Italian leather with Moondust Alcantara upper sections, creating an articulated, form-fitted feel. To support high-speed driving and intense braking force, the accelerator, brake pedal and dead pedal are billet machined aluminum.

The instrument panel is reimagined in glossy carbon fiber and incorporates anodized billet aluminum HVAC vents. The carbon fiber center console is simplified to include the essentials only: the PRND gear selector, window switches, key fob holder, and Emergency kill switch. This console extends through to the rear compartment, to which the client’s custom-fitted carbon fiber racing helmet is held in place by a center-latched strap matching the blue seat belts.

About Karma Automotive
Karma Automotive is America’s only full-line ultra-luxury vehicle manufacturer, and a pioneer of Plug-in Series Hybrid vehicles which it manufactures at its Karma Innovation and Customization Center (KICC) in Moreno Valley, CA. Its Executive, Product Development, and Design headquarters are located in nearby Irvine, CA. The Karma portfolio embodies California’s spirit of innovation and entrepreneurial boldness, reflected by the signature Comet Line which is the central hallmark of Karma’s new design language. The Gyesera Grand Coupe, a Plug-in Series Hybrid four-seater, arrives at dealerships in December 2026; and the Amaris GT 2-Door Plug-in Series Hybrid arrives in Q4 2027. The Karma Kaveya Super Coupe, with over 1,000HP and butterfly-doors, will arrive in Q1 2028, to be followed by the Karma Ivara GT-UV: both EVs will incorporate SDVA (Software-Defined Vehicle Architecture) developed with leading technology partners. For more information, visit www.karmaautomotive.com) 

Media Contact:

Joe Richardson, (917) 716-6617
Joe@BeautifulNoisePR.com 

View original content to download multimedia:https://www.prnewswire.com/news-releases/karma-automotive-announces-eximius-the-bespoke-vehicle-program-for-elite-clients-seeking-singular-expressions-of-extreme-performance-and-bold-craftsmanship-302925523.html

SOURCE Karma Automotive

Continue Reading

Technology

ModelBest and OpenBMB Open-Source MiniCPM-OCR Series, Delivering High-Performance Document Parsing and AI-Powered Quality Control

Published

on

By

BEIJING, Oct. 31, 2026 /PRNewswire/ — ModelBest and OpenBMB jointly announced the release and open-source availability of the MiniCPM-OCR series, a family of models for efficient document parsing and parsing-quality assessment. The launch includes two models: MiniCPM-OCR 1.0 (1.3B) and MiniCPM-OCR Jev (2B).

As the first OCR-focused model in the MiniCPM family, MiniCPM-OCR 1.0 brings top-tier parsing accuracy to a compact 1.3-billion-parameter architecture optimized for edge deployment, pushing forward the balance between efficiency and performance for open-source OCR models. Built for real-world conditions, it accurately parses scanned, photographed, curved, tilted and screen-captured documents without cumbersome image pre-correction, lowering the barrier to large-scale document digitization.

The model handles dense bilingual Chinese-English content, complex mathematical formulas, and multi-level or borderless tables, consistently performing at a leading level across a broad range of mainstream industry evaluations. Beyond full-page reconstruction, it supports key information extraction (KIE), pulling specified fields from invoices, IDs and financial statements according to business instructions.

Powered by DSpark decoding acceleration, MiniCPM-OCR 1.0 significantly increases end-to-end throughput while lowering per-page latency. For enterprises processing millions of pages—such as financial contract archives, academic libraries and government records—this means processing far more documents with the same hardware and time budget, at a substantially lower computing cost.

To address the long-standing need for page-by-page manual review, ModelBest and OpenBMB also introduced MiniCPM-OCR Jev, the first OCR result decision model that acts as an “AI quality inspector.” Rather than performing OCR itself, Jev compares the source image with OCR output and rapidly assigns confidence scores to text, LaTeX formulas and tables, detecting missing characters, errors and formatting misalignments. Despite its compact 2B-parameter size, Jev delivers judgment accuracy typically associated with far larger models.

Jev supports cross-model deployment and can be integrated into existing OCR workflows without replacing the underlying OCR engine. It can automatically identify reliable results for direct processing, flag potentially inaccurate outputs for human review and select the best result from multiple OCR systems. This enables enterprises to move from full manual inspection toward risk-based, automated quality control.

The MiniCPM-OCR series is available on GitHub, Hugging Face and ModelScope, and supports vLLM, SGLang, llama.cpp and Ollama, along with SDKs, APIs, Agent Skill plugins and open-source fine-tuning code. Day-0 hardware adaptation covers AMD, Arm, Houmo AI, Intel and NVIDIA. Through the FlagOS software stack, it also has Day-0 support for AI and edge chips from CIX Technology, Huawei Ascend, Hygon, Iluvatar CoreX, Kunlunxin, MetaX, Moore Threads, Sunrise, T-Head, TsingMicro, NVIDIA and Apple Mac (Arm).

View original content:https://www.prnewswire.com/news-releases/modelbest-and-openbmb-open-source-minicpm-ocr-series-delivering-high-performance-document-parsing-and-ai-powered-quality-control-302925594.html

SOURCE ModelBest

Continue Reading

Technology

Wulcea Elevates Consumer Trust in Heated Apparel Through Multi-National Safety Certifications and Rigorous Technical Testing

Published

on

By

NEW YORK, Oct. 31, 2026 /PRNewswire/ — As smart heated clothing gains broader adoption, consumers are paying closer attention to the safety and reliability of the technology behind these products. Wulcea, a brand specializing in graphene-powered heated apparel, combines its flexible GrapheneNano™ heating technology with documented safety compliance and durability testing for its heating components and battery systems.

“Trust in smart heated apparel goes beyond warmth—it comes down to confidence in battery safety and heating element reliability,” said John C, Founder of Wulcea. “Our goal is to give users peace of mind through certified technical standards.”

Advanced Graphene Heating Elements Supported by Global Standards

At the core of Wulcea’s thermal architecture is its GrapheneNano™ heating technology. Engineered to eliminate garment stiffness, Wulcea integrates flexible graphene elements that deliver balanced warmth across key upper-body zones while preserving natural garment drape and full freedom of movement.

Wulcea supports its heating components with applicable compliance documentation for major markets. These include CE and FCC compliance documentation addressing relevant electrical and electromagnetic compatibility requirements, as well as PSE compliance for applicable products in Japan. RoHS compliance further addresses restrictions on specified hazardous substances in applicable electrical and electronic components.

Multi-Certified Battery System for Dependable Power

To power its heating elements, Wulcea pairs its heated apparel with rechargeable battery systems designed for convenient everyday use. Featuring a compact design and housed in dedicated interior pockets, the batteries provide portable power while maintaining a streamlined garment profile and comfortable fit.

Wulcea backs its battery options with comprehensive third-party accreditations. UL certification demonstrates that the battery system has been evaluated against recognized power bank safety requirements, covering key areas such as overcharge protection, short-circuit protection, and thermal safety. The battery systems are also supported by applicable CE and FCC compliance documentation, addressing relevant regulatory requirements for electrical and electromagnetic compatibility.

For daily handling and travel, RoHS compliance validates that the battery system meets stringent global standards for material safety. The battery models have also undergone applicable UN 38.3 testing, supporting compliance with international requirements for lithium battery transportation.

Real-World Durability and Practical Usability

Component compliance forms Wulcea’s foundation, but reliability is defined by real-world performance. Built for high-flex endurance, Wulcea’s flexible graphene heating elements are tested through 10,000 active flexing cycles to maintain steady thermal output through repeated bending and everyday body movement.

Everyday convenience is equally essential. Built for hassle-free care, Wulcea’s heating elements withstand 100 machine-wash cycles under standard care guidelines, maintaining internal conductivity and structural stability under repeated laundering.

Integrated NTC temperature sensors provide thermal monitoring and are designed to stop heating if temperatures exceed 131°F (55°C). Combined with runtime of up to 10 hours on the low setting and a discreet interior control button, these features support practical everyday use in cold-weather conditions.

Aligning Technical Standards with Everyday Warmth

By combining graphene-based heating technology with documented battery safety compliance and durability testing, Wulcea continues to focus on the technical foundations of dependable heated apparel. This approach reflects the brand’s emphasis on bringing together safety considerations, practical functionality, and everyday comfort for cold-weather use.

View original content to download multimedia:https://www.prnewswire.com/news-releases/wulcea-elevates-consumer-trust-in-heated-apparel-through-multi-national-safety-certifications-and-rigorous-technical-testing-302925554.html

SOURCE Wulcea

Continue Reading

Trending