Artificial Intelligence
Cloud-based Contact Center Global Market Report 2023: Development of Remote Contact Centers Drive Growth
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Dublin, April 25, 2023 (GLOBE NEWSWIRE) — The “Cloud-based Contact Center Market- Global Industry Size, Share, Trends, Opportunity, and Forecast. 2018-2028 Segmented By Component (Solutions and Service), By Deployment (Public, Private and Hybrid), By Organization Size, By End-User, By Region, By Competition” report has been added to ResearchAndMarkets.com’s offering.
Global Cloud-based Contact Center Market is anticipated to grow at a robust pace during the forecast period 2022-2028.
Customer needs, partnerships, application trends across vertical industries, including business and enterprise, and the need to develop new capabilities for the current market all contribute to the innovative nature of cloud-based contact centers. Cost reduction is one of the main factors influencing the growth of the cloud contact center.
Additionally, streamlined procedures provide a rapid implementation of the business value, easier distribution management, increased company flexibility, and cost savings, due to which market size is expected to grow rapidly during the forecast period.
Development of Remote Contact Centers Drive the Market
In the global cloud-based contact center market, industry players are becoming increasingly familiar with the concept of a contact center as a service. The cloud-based contact center company’s innovative contact center as a service technology is aiding in effectively administering remote teams with collaboration options, including team chat and video.
In particular, the contact center as a service solution helped during the coronavirus outbreak to minimize the cost of ownership, reduce downtime, and ensure business continuity. It has been discovered that cloud communications as a service and system integration as a service make multi-channel communication conceivable; due to this technological expansion market is expected to rise during the forecast period.
Cloud-based contact centers have made it possible to manage a remote contact center staff, eliminating the need for calls to an outside vendor. With cloud-based contact centers, agents can be deployed across the country with the goal of putting them closer to customers. Numerous companies are implementing work-from-home policies for employees to reduce costs, owing to which the market is expected to register a high CAGR during the forecast period.
For instance, the Everest Group’s research program claims that money saved on office space and other overheads can be used to hire local staff who can offer specific services. Additionally, hiring operate-from-home agents in the U.S. costs 5 to 10% less than hiring on-site specialists.
Contact centers have been developed to manage customer connections. The market would expand as multi-function devices are used more often to handle client connections. Modern technologies are used in contact centers to gather both inbound and outgoing calls. Emails, chats, and online queries have all experienced an increase in usage. Growing consumption of cloud, social media, and analytics technology by businesses can benefit a corporate success.
Adoption of AL/ML and CCaaS in Cloud-based Contact Center Market
Participants in the global cloud-based contact center market are paying attention to the idea of a contact center as a service (CCaaS). RingCentral, Inc. – the U.S. publicly traded supplier of cloud-based communications and partnership solutions for businesses, is being publicized for the CCaaS solutions that help to lower upfront investing and reduce I.T. staffing.
With collaboration options such as team chat and video, the new CCaaS technology in the cloud-based contact center marketplace is helping efficiently manage remote teams. During the COVID-19 pandemic, the CCaaS technology is supported to reduce ownership costs, improve performance, and ensure business continuity. Multi-channel connectivity has been proven possible via unified communications as a service (UCaaS) and cloud communications as a service (CCaaS).
In terms of retail, Amazon Connect, which mainly employs omnichannel cloud connectivity, is quickly becoming the standard for virtual contact centers in the retail industry. Offering great customer service at a reasonable price is made possible through this type of communication. In the retail contact center industry, there is an increasing need for customized, dynamic, and natural services. Artificial intelligence (AI) and machine learning (ML) technologies are used to automate exchanges, detect user emotions, and authenticate callers to enhance customer service. The latest trend of using AI (Artificial intelligence) and Machine learning Cloud-based contact center market is anticipated to rise with robust growth in the future.
Restraining Factors
Cloud-based contact center hosting has been demonstrated to be a major expense. To determine the sustainability of operating their business, market players are adopting contingencies and evaluating the risks and rewards related to their business models.
Report Scope:
In this report, the Cloud-based Contact Center Market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:
Cloud-based Contact Center Market, By Component:
- Solutions
- Service
Cloud-based Contact Center Market, By Deployment:
- Public
- Private
- Hybrid
Cloud-based Contact Center Market, By Organization Size:
- SMEs
- Large Enterprise
Cloud-based Contact Center Market, By End-User:
- Small Sized Organization
- Medium Sized Organization
- Large Sized Organization
Cloud-based Contact Center Market, By Region:
- North America
- United States
- Mexico
- Asia-Pacific
- India
- Japan
- South Korea
- Australia
- Singapore
- Malaysia
- China
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Poland
- Denmark
- South America
- Brazil
- Argentina
- Colombia
- Peru
- Chile
- Middle East
- Saudi Arabia
- South Africa
- UAE
- Iraq
- Turkey
Key Topics Covered:
1. Service Overview
2. Research Methodology
3. Impact of COVID-19 on Global Cloud based Contact Center Market
4. Executive Summary
5. Voice of Customers
6. Global Cloud based Contact Center Market Outlook
7. North America Cloud based Contact Center Market Outlook
8. Asia-Pacific Cloud based Contact Center Market Outlook
9. Europe Cloud based Contact Center Market Outlook
10. South America Cloud based Contact Center Market Outlook
11. Middle East & Africa Cloud based Contact Center Market Outlook
12. Market Dynamics
12.1. Drivers
12.1.1. Adoption of remote contact center
12.1.2. Multi-channel communication technology
12.1.3. Growing Consumption of Cloud, social media, and analytics technology.
12.2. Challenges
12.2.1. High installation cost
12.2.2. Cloud-based contact centers are strongly structured.
13. Market Trends & Developments
13.1. Adoption of ML and A.I. in contact centers
13.2. Attention towards CCaaS (Contact center as a service)
13.3. Advancement of collaboration options like team chat and video conferencing.
13.4. CCaaS solutions help to lower upfront investment and reduce I.T. staffing.
13.5. Customized, dynamic, and natural Services
14. Company Profiles
15. Strategic Recommendation
16. About the Publisher & Disclaimer
A selection of companies mentioned in this report includes
- Aspect Software, Inc
- BT GROUP PLC
- Cisco Systems, Inc
- Connect First, Inc
- Evolve IP LLC
- Five9, Inc
- Genesys
- Liveops, Inc
- Mitel Networks Corporation
- NewVoiceMedia Limited
For more information about this report visit https://www.researchandmarkets.com/r/9rh
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Artificial Intelligence
oToBrite Develops a Compact All-Weather Vision-AI Driver Monitoring System for the Commercial Vehicle Market
HSINCHU, May 9, 2024 /PRNewswire/ — oToBrite, a leading provider of vision-AI ADAS solutions, has successfully developed a compact all-weather vision-AI Driver Monitoring System (DMS). With a high-sensitivity automotive-grade global shutter image sensor, the system achieves outstanding Quantum Efficiency (QE), providing clear image quality day and night. With oToBrite’s proprietary secondary optical system, the overall combination effectively enhances the accuracy and reliability of the vision-AI algorithm in all weather conditions. The DMS has already been successfully delivered to heavy commercial vehicle manufacturers, mitigating the potential risks of traffic accidents.
oToBrite’s vision-AI DMS utilizes self-developed AI 3D facial landmark technology to identify over 100 driver IDs and recognize driving behaviors, including smoking, phone use, distraction, fatigue. The system remains effective even when drivers wear Level 3 sunglasses or coated glasses, without compromising the detection and recognition capabilities of vision-AI.
The vision-AI DMS features a 940nm infrared and high-QE sensor, coupled with oToBrite’s proprietary optical design, ensuring clear images in strong light conditions (>120K lux) or during nighttime driving. Additionally, oToBrite’s vision-AI technology optimizes facial image quality, ensuring accurate AI recognition whether driving against sunlight, backlight, or through tunnels.
Miniaturization is a significant trend in driver monitoring applications. oToBrite further emphasizes that, compared to many systems on the market requiring multiple LEDs for sufficient illumination, the DMS only needs one LED to meet the system’s image quality requirements. In terms of hardware technology, oToBrite’s secondary optical system adjusts the LED light source to any angle to meet light distribution needs. Concentrating the light source can double the illumination, producing more reliable images for AI recognition. This also reduces optical component usage, enhances image clarity, and saves installation space and system costs.
According to the 2023 market research report by Gii, the DMS market reached $1.3 billion in 2022, with an expected Compound Annual Growth Rate (CAGR) of 8.3% by 2028, reaching $20.8 billion. Currently, several countries are drafting or have implemented regulations, and driven by regulatory demand, oToBrite’s compact all-weather vision-AI DMS has begun mass production, contributing to achieving Vision Zero. Read more: http://www.otobrite.com/en/block/index/99
About oToBrite
oToBrite is a leading vison-AI ADAS/AD solutions provider. Based in Hsinchu Science Park, oToBrite has IATF 16949-certified clean room factory and many years of experience as an automotive Tier-1 supplier. Through comprehensive research and development capabilities, oToBrite provides vision-AI algorithms, ECU/domain controllers and automotive-grade/special purpose cameras.
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View original content:https://www.prnewswire.co.uk/news-releases/otobrite-develops-a-compact-all-weather-vision-ai-driver-monitoring-system-for-the-commercial-vehicle-market-302140971.html
IP solution maximizes operational efficiency for leading automation company
LONDON, May 9, 2024 /PRNewswire/ — Clarivate Plc (NYSE: CLVT), a leading global provider of transformative intelligence, announced today that OMRON has selected IPfolio™, an intellectual property management software from Clarivate to transform their IP operations. This solution will enable OMRON, a leading automation company to make smarter decisions and plan strategically using IP data and analytical insights.
With IPfolio’s help, OMRON will be able to better manage its IP assets and keep up with the rising number of filings and data volumes, while eliminating manual processes. The IP team at OMRON can enhance their analysis and collaboration with stakeholders by using insightful data visualizations. This can lead to increased productivity, deeper insights, and faster decision-making with confidence.
Gordon Samson, President, Intellectual Property, Clarivate, said, “Our IP Management Software integrates data and services to empower our clients to remove friction, enhance collaboration and make better informed decisions. We are confident that IPfolio will help OMRON simplify the process of managing IP assets across the entire lifecycle.”
About ClarivateClarivate™ is a leading global provider of transformative intelligence. We offer enriched data, insights & analytics, workflow solutions and expert services in the areas of Academia & Government, Intellectual Property and Life Sciences & Healthcare. For more information, please visit www.clarivate.com
Media Contact:Jack Wan, External Communications [email protected]
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View original content:https://www.prnewswire.co.uk/news-releases/omron-selects-ipfolio-from-clarivate-302139322.html
Most people don’t know that, due to recent groundbreaking scientific advances, existing technology can read thoughts, implant dreams, scan memory, tell if a subject is in love, and hack brains for PIN codes.
LONDON, May 9, 2024 /PRNewswire/ — Announcing the establishment of the Institute of Neurotechnology and Law (INL) – the first organisation of its kind in the world, crafted in response to the swift advancements in neurotechnology and the emerging concerns over human rights and privacy.
The world is about to change. Yet whilst AI steals the headlines, recent extraordinary advancements in neurotechnology have gone largely under the radar.
That is why we have set up the Institute of Neurotechnology and Law.
“We are at a critical juncture in the evolution of neurotechnology. The possibilities for improving human life are immense, yet so are the risks to privacy and autonomy,” stated Founder Harry Lambert. “The Institute of Neurotechnology and Law is dedicated to ensuring these technologies enable human flourishing without compromising our moral and ethical principles.”
The institute has already garnered significant attention, attracting some of the world’s foremost experts in neurotechnology, neuroscience, ethics, and law. These distinguished panellists will collaborate to address the pressing issues at the intersection of technology and human rights, aiming to influence policy both domestically and internationally.
For more information about the Institute of Neurotechnology and Law, upcoming events, and membership details, please visit www.neurotechlaw.com.
Media Contact: [email protected]. 07982678044
View original content:https://www.prnewswire.co.uk/news-releases/first-of-its-kind-institute-of-neurotechnology–law-launches-in-the-uk-302140545.html
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