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TTEC Announces Third Quarter 2024 Financial Results

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Third Quarter 2024

Revenue was $529.4 Million, down 12.2 Percent
Operating Income of $12.9 Million or 2.4 Percent of Revenue
(Operating Income of $34.1 Million or 6.4 Percent of Revenue Non-GAAP)
Net Loss of $19.0 Million or negative 3.6 Percent of Revenue
(Net Income of $5.4 Million or 1.0 Percent of Revenue Non-GAAP)
Adjusted EBITDA was $50.3 Million or 9.5 Percent of Revenue
Fully Diluted Net Loss Per Share of $0.40 (Net Income Per Share of $0.11 Non-GAAP)

DENVER, Nov. 6, 2024 /PRNewswire/ — TTEC Holdings, Inc. (NASDAQ:TTEC), a leading global CX (customer experience) technology and services innovator for AI-enabled CX with solutions from TTEC Engage and TTEC Digital, announced today financial results for the third quarter ended September 30, 2024.

“We remain focused on executing our diversification strategies, enhancing our portfolio of AI-enabled CX solutions and our operational agility, while working to strengthen our financial performance,” commented Ken Tuchman, chief executive officer of TTEC. “The industry dynamics and macroeconomic environment continue to create headwinds as select clients delay decision-making and/or focus on near-term cost savings.”

“While taking more time than expected, we are prudently working through various challenges during this transitional year. We are executing against our top strategic priorities alongside taking the necessary profit improvement actions to strengthen our balance sheet and return the company to long-term revenue growth and increased profitability,” Tuchman concluded.

THIRD QUARTER 2024 FINANCIAL HIGHLIGHTS           

Revenue        

Third quarter 2024 GAAP revenue decreased 12.2 percent to $529.4 million compared to $603.0 million in the prior year.Foreign exchange had a $0.5 million negative impact on revenue in the third quarter of 2024.

Income (Loss) from Operations

Third quarter 2024 GAAP income from operations was $12.9 million, or 2.4 percent of revenue, compared to income from operations of $25.4 million, or 4.2 percent of revenue, in the prior year.Non-GAAP income from operations, excluding restructuring and impairment charges, equity-based compensation expenses, amortization of purchased intangibles, and other items, was $34.1 million, or 6.4 percent of revenue, compared to $47.3 million, or 7.8 percent, for the prior year.Foreign exchange had a $2.6 million positive impact on Non-GAAP income from operations in the third quarter of 2024.

Adjusted EBITDA     

Third quarter 2024 Non-GAAP Adjusted EBITDA was $50.3 million, or 9.5 percent of revenue, compared to $63.9 million, or 10.6 percent of revenue, in the prior year.

Net Income (Loss)

Third quarter 2024 GAAP net loss was $19.0 million, or negative 3.6 percent of revenue, compared to net income of $1.8 million, or 0.3 percent of revenue, in the prior year.Non-GAAP net income was $5.4 million, or 1.0 percent of revenue, compared to Non-GAAP net income of $22.9 million, or 3.8 percent of revenue, in the prior year.

Net Income (Loss) Per Share

Third quarter 2024 GAAP fully diluted net loss per share was $0.40 compared to net income per share of $0.04 in the prior year.Non-GAAP fully diluted net income per share was $0.11 compared to Non-GAAP net income per share of $0.48 in the prior year.

CASH FLOW AND BALANCE SHEET 

Cash flow from operations in the third quarter of 2024 was a negative $91.4 million compared to a negative $31.7 million for the third quarter of 2023.Free cash flow in the third quarter of 2024 was a negative $100.2 million compared to a negative $53.5 million in the prior year. The decline was primarily related to the impact of the accounts receivable factoring facility discontinuation in the quarter. This discontinuation negatively impacted our cash flow from operations by $81.8 million for the three months ended September 30, 2024 and $101.2 million for the nine months ended September 30, 2024. Excluding the factoring facility impact, free cash flow in the third quarter of 2024 was negative $18.4 million. The year-over-year improvement reflects improved working capital conversion and lower capital expenditures, partially offset by lower profitability.Capital expenditures in the third quarter of 2024 were $8.8 million compared to $21.8 million for the third quarter of 2023.As of September 30, 2024, TTEC had cash and cash equivalents of $96.9 million and debt of $1,028.4 million, resulting in a net debt position of $931.5 million. This compares to a net debt position of $815.7 million for the same period in 2023. The increase in net debt is also primarily explained by the discontinuation of the accounts receivable factoring facility.As of September 30, 2024, TTEC’s remaining borrowing capacity under its revolving credit facility was approximately $140 million compared to $215 million for the same period in 2023.On November 4, 2024, the Board of Directors of the Company suspended the Company’s semi-annual cash dividend as part of its ongoing shift to prioritize debt reduction associated with strategic acquisitions and other investments in the business. The Board expects to review the dividend suspension in the future to determine, in light of facts and circumstances at that time, whether and when to reinstate a semi-annual cash dividend.

SALE OF MATERIAL ASSET NOT USED IN OPERATIONS

On November 5, 2024, the Company closed the transaction of a real estate asset held for sale in Englewood, Colorado for $45.5 million dollars, subject to customary adjustments. Prior to the COVID pandemic, the building was used as the Company’s principal place of business. The Company intends to use the proceeds from the sale to reduce its outstanding balance under the revolving line of credit.

SEGMENT REPORTING & COMMENTARY

TTEC reports financial results for TTEC Digital and TTEC Engage business segments. Financial highlights for the two business segments are provided below.

TTEC Digital – Design, build and operate tech-enabled, insight-driven CX solutions

Third quarter 2024 GAAP revenue for TTEC Digital decreased 13.2 percent to $115.7 million from $133.3 million for the year ago period. Income from operations was $7.5 million, or 6.5 percent of revenue, compared to income from operations of $11.9 million, or 8.9 percent of revenue, in the prior year. The year-over-year reduction primarily relates to a large one-time on-premise sale in the prior year period. Excluding on-premise sales, TTEC Digital’s professional services and recurring revenue together increased by 5.9 percent year over year in the third quarter. Non-GAAP income from operations was $14.4 million, or 12.5 percent of revenue, compared to Non-GAAP income from operations of $19.4 million, or 14.5 percent of revenue, in the prior year.

TTEC Engage – Digitally-enabled customer care, acquisition, and fraud mitigation services

Third quarter 2024 GAAP revenue for TTEC Engage decreased 11.9 percent to $413.8 million from $469.7 million for the year ago period. Income from operations was $5.4 million, or 1.3 percent of revenue, compared to income from operations of $13.5 million, or 2.9 percent of revenue, in the prior year.Non-GAAP income from operations was $19.7 million, or 4.8 percent of revenue, compared to Non-GAAP income from operations of $27.9 million, or 5.9 percent of revenue, in the prior year.Foreign exchange had a $0.6 million negative impact on revenue and a $2.6 million positive impact on income from operations.

BUSINESS OUTLOOK

“We are achieving many of the key objectives that we set forth during this transitional year,” commented Kenny Wagers, chief financial officer of TTEC. “In TTEC Digital, we are diversifying our CX technology partnerships and broadening our expertise and capabilities across Contact Center, CRM, AI and analytics solutions. In TTEC Engage, we are launching new client programs across our expanded geographic footprint, working through the previously mentioned headwinds, and executing upon our profit optimization initiatives. 

Wagers continued, “At the company level, we are re-iterating full year 2024 guidance near the lower end of the range that we provided last quarter. At the segment level, the appropriate contribution adjustments were made to reflect our third-quarter actual results and updated fourth-quarter forecasts. As we prepare to transition into 2025, we remain focused on our strategic priorities and resolute in our ability to return TTEC to long-term organic growth and increased profitability.”

TTEC Full Year 2024 Outlook

Full Year 2024
Guidance

Full Year 2024
Mid-Point

Revenue

$2,210M — $2,260M

$2,235M

Non-GAAP adjusted EBITDA

$201M — $217M

$209M

Non-GAAP adjusted EBITDA margins

9.1% — 9.6%

9.3 %

Non-GAAP operating income

$134M — $150M

$142M

Non-GAAP operating income margins

6.1% — 6.6%

6.3 %

Interest expense, net

($82M) — ($84M)

($83M)

Non-GAAP adjusted tax rate

40% — 46%

43 %

Diluted share count

47.6M — 47.8M

47.7M

Non-GAAP earnings per a share

$0.64 — $0.83

$0.73

Engage Full Year 2024 Outlook

Full Year 2024
Guidance

Full Year 2024
Mid-Point

Revenue

$1,737M — $1,767M

$1,752M

Non-GAAP adjusted EBITDA

$137M — $147M

$142M

Non-GAAP adjusted EBITDA margins

7.9% — 8.3%

8.1 %

Non-GAAP operating income

$81M — $91M

$86M

Non-GAAP operating income margins

4.7% — 5.2%

4.9 %

Digital Full Year 2024 Outlook

Full Year 2024
Guidance

Full Year 2024
Mid-Point

Revenue

$473M — $493M

$483M

Non-GAAP adjusted EBITDA

$63M — $69M

$66M

Non-GAAP adjusted EBITDA margins

13.4% — 14.1%

13.8 %

Non-GAAP operating income

$52M — $58M

$55M

Non-GAAP operating income margins

11.1% — 11.8%

11.5 %

The Company has not quantitatively reconciled its guidance for Non-GAAP operating income, Non-GAAP operating income margins, Non-GAAP adjusted EBITDA, Non-GAAP adjusted EBITDA margins, Non-GAAP adjusted tax rate, or Non-GAAP earnings per share to their respective most comparable GAAP measures because certain of the reconciling items that impact these metrics, including restructuring and impairment charges, equity-based compensation expense, changes in acquisition contingent consideration, depreciation and amortization expense, and provision for income taxes are dependent on the timing of future events outside of the Company’s control or cannot be reliably predicted. Accordingly, the Company is unable to provide reconciliations to GAAP operating income, operating income margins, EBITDA margins, and diluted earnings per share without unreasonable effort. Please note that the unavailable reconciling items could significantly impact the Company’s 2024 financial results as reported under GAAP.

NON-GAAP FINANCIAL MEASURES

This press release contains a discussion of certain Non-GAAP financial measures that the Company includes to allow investors and analysts to measure, analyze and compare its financial condition and results of operations in a meaningful and consistent manner. A reconciliation of these Non-GAAP financial measures can be found in the tables accompanying this press release.

GAAP metrics are presented in accordance with Generally Accepted Accounting Principles.Non-GAAP – As reflected in the attached reconciliation table, the definition of Non-GAAP may exclude from operating income, EBITDA, net income and earnings per share restructuring and impairment charges, equity-based compensation expenses, amortization of purchased intangibles, among other items.

EARNINGS WEBCAST/CONFERENCE CALL

The Company will host a live webcast and conference call at 8:30 a.m. ET on Thursday, November 7, 2024. You are invited to join a live webcast of the conference call by visiting the “Investors Relations” section of the TTEC website at www.ttec.com. If you are unable to participate during the live webcast, a replay will be available on the TTEC website.

ABOUT TTEC 

TTEC (pronounced T-TEC) Holdings, Inc. (NASDAQ:TTEC) is a leading global CX (customer experience) technology and services innovator for AI-enabled digital CX solutions. Serving iconic and disruptive brands, TTEC’s outcome-based solutions span the entire enterprise, touch every virtual interaction channel, and improve each step of the customer journey. Leveraging next-gen digital technology, the Company’s TTEC Digital business designs, builds, and operates omnichannel contact center technology, CRM, AI and analytics solutions. The Company’s TTEC Engage business delivers AI-enabled customer engagement, customer acquisition and growth, tech support, back office, and fraud prevention services. Founded in 1982, the Company’s singular obsession with CX excellence has earned it leading client, customer, and employee satisfaction scores across the globe. The Company’s employees operate on six continents and bring technology and humanity together to deliver happy customers and differentiated business results. To learn more visit us at https://www.ttec.com.

FORWARD-LOOKING STATEMENTS

This Earnings Press Release and related oral statements contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements relating to our operations, expected financial position, results of operations, reiteration of the Company’s full year 2024 guidance near the lower end of the ranges provided in the third quarter of 2024, effective tax rate, cash flow, leverage, liquidity, business strategy, profit improvement actions, increased profitability, competitive position, strategic priorities, organic growth, demand for our services in international operations, acquisition opportunities and impact of acquisitions, capital allocation and dividends, growth opportunities, spending, capital expenditures and investments, competition and market forecasts, industry trends, our human capital resources, and other business, operational and financial matters that are based on our current expectations, assumptions, and projections with respect to the future, and are not a guarantee of performance.

In this Release when we use words such as “may,” “believe,” “plan,” “will,” “anticipate,” “estimate,” “expect,” “intend,” “reiterate,” “project,” “would,” “could,” “target,” or similar expressions, or when we discuss our strategy, plans, goals, initiatives, or objectives, we are making forward-looking statements. Unless otherwise indicated or except where the context otherwise requires, the terms “TTEC,” “the Company,” “we,” “us” and “our” and other similar terms in this report refer to TTEC Holdings, Inc. and its subsidiaries. We caution you not to rely unduly on any forward-looking statements. Actual results may differ materially from those expressed in the forward-looking statements, and you should review and consider carefully the risks, uncertainties, and other factors that could affect our business and may cause such differences as noted above and as outlined in Item 1A. Risk Factors in our Annual Report on Form 10-K for the year ended December 31, 2023 and any subsequent filings or furnishings with the U.S. Securities and Exchange Commission (the “SEC”) which are available on TTEC’s website www.ttec.com, and on the SEC’s public website at www.sec.gov. 

Our forward-looking statements speak only as of the date that this Release is issued. We undertake no obligation to update them, except as may be required by applicable law. Although we believe that our forward-looking statements are reasonable, they depend on many factors outside of our control and we can provide no assurance that they will prove to be correct or the timing thereof.”

 

TTEC HOLDINGS, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except per share data)

(unaudited)

Three months ended

Nine months ended

September 30,

September 30,

2024

2023

2024

2023

Revenue

$  529,427

$  602,956

$ 1,640,150

$ 1,836,636

Operating Expenses:

Cost of services

415,226

479,699

1,286,934

1,427,063

Selling, general and administrative

71,580

66,781

219,881

216,129

Depreciation and amortization

24,042

25,595

74,258

76,368

Restructuring charges, net

1,002

1,369

6,346

4,896

Impairment losses

4,688

4,124

241,544

11,083

         Total operating expenses

516,538

577,568

1,828,963

1,735,539

(Loss) / Income From Operations

12,889

25,388

(188,813)

101,097

Other income (expense), net

(22,462)

(18,298)

(60,573)

(55,309)

(Loss) / Income Before Income Taxes

(9,573)

7,090

(249,386)

45,788

Provision for income taxes

(9,395)

(5,294)

(65,850)

(19,318)

Net (Loss) / Income

(18,968)

1,796

(315,236)

26,470

Net (loss) / income attributable to noncontrolling interest

(2,154)

(3,326)

(7,730)

(8,142)

Net (Loss) / Income Attributable to TTEC Stockholders

$  (21,122)

$    (1,530)

$  (322,966)

$      18,328

Net (Loss) / Income Per Share

Basic

$      (0.40)

$       0.04

$        (6.63)

$         0.56

Diluted

$      (0.40)

$       0.04

$        (6.62)

$         0.56

Net (Loss) / Income Per Share Attributable to TTEC Stockholders

Basic

$      (0.44)

$      (0.03)

$        (6.79)

$         0.39

Diluted

$      (0.44)

$      (0.03)

$        (6.78)

$         0.39

 (Loss) / Income From Operations Margin

2.4 %

4.2 %

(11.5) %

5.5 %

Net (Loss) /  Income Margin

(3.6) %

0.3 %

(19.2) %

1.4 %

Net (Loss) / Income Attributable to TTEC Stockholders Margin

(4.0) %

(0.3) %

(19.7) %

1.0 %

Effective Tax Rate

(98.1) %

74.7 %

(26.4) %

42.2 %

Weighted Average Shares Outstanding

  Basic

47,723

47,415

47,573

47,305

  Diluted

47,860

47,488

47,618

47,417

 

TTEC HOLDINGS, INC. AND SUBSIDIARIES

SEGMENT INFORMATION

(In thousands)

(unaudited)

Three months ended

Nine months ended

September 30,

September 30,

2024

2023

2024

2023

Revenue:

TTEC Digital

$     115,669

$      133,252

$     344,068

$    367,764

TTEC Engage

413,758

469,704

1,296,082

1,468,872

Total

$     529,427

$      602,956

$  1,640,150

$ 1,836,636

(Loss) / Income From Operations

TTEC Digital

$         7,474

$       11,925

$      16,770

$     19,864

TTEC Engage

5,415

13,463

(205,583)

81,233

Total

$       12,889

$       25,388

$   (188,813)

$    101,097

 

TTEC HOLDINGS, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(In thousands)

(unaudited)

September 30,

December 31,

2024

2023

ASSETS

Current assets:

   Cash and cash equivalents

$           96,929

$       172,747

   Accounts receivable, net

430,092

394,868

   Prepaids and other current assets

105,355

95,064

   Income and other tax receivables

20,690

18,524

      Total current assets

653,066

681,203

Property and equipment, net

146,358

191,003

Assets Held for Sale

29,640

–

Operating lease assets

100,263

121,574

Goodwill

575,096

808,988

Other intangibles assets, net

173,227

198,433

Income and other tax receivables, long-term

34,469

44,673

Other assets

114,171

139,724

Total assets

$      1,826,290

$     2,185,598

LIABILITIES AND EQUITY

Current liabilities:

   Accounts payable

$           82,259

$         96,577

   Accrued employee compensation and benefits

121,255

146,184

   Deferred revenue

70,834

81,171

   Current operating lease liabilities

35,217

38,271

   Other current liabilities

29,085

40,824

      Total current liabilities

338,650

403,027

Long-term liabilities:

   Line of credit

1,025,000

995,000

   Non-current operating lease liabilities

79,909

96,809

   Other long-term liabilities

87,597

75,220

      Total long-term liabilities

1,192,506

1,167,029

Equity:

   Common stock

477

474

   Additional paid-in capital

416,813

407,415

   Treasury stock

(584,904)

(589,807)

   Accumulated other comprehensive income (loss)

(99,697)

(89,876)

   Retained earnings

544,616

870,429

   Non-controlling interest

17,829

16,907

      Total equity

295,134

615,542

Total liabilities and equity

$      1,826,290

$     2,185,598

 

TTEC HOLDINGS, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

(unaudited)

 Nine Months Ended 

 Nine Months Ended 

 September 30, 

 September 30, 

2024

2023

Cash flows from operating activities:

     Net (loss) income 

$                    (315,236)

$                        26,470

     Adjustment to reconcile net (loss) income to net cash provided by operating activities :

          Depreciation and amortization

74,258

76,368

          Amortization of contract acquisition costs

1,363

1,596

          Amortization of debt issuance costs

1,578

801

          Imputed interest expense and fair value adjustments to contingent consideration

(1,496)

6,864

          Provision for credit losses

2,744

1,677

          Loss on disposal of assets

1,778

1,176

          Impairment losses

241,544

11,083

          Loss on dissolution of subsidiary

–

301

          Deferred income taxes

38,922

(12,288)

          Excess tax benefit from equity-based awards

3,921

1,807

          Equity-based compensation expense

15,249

16,410

          Loss / (gain) on foreign currency derivatives

244

552

          Changes in assets and liabilities, net of acquisitions:

                Accounts receivable 

(37,497)

34,995

                Prepaids and other assets 

(12,959)

(1,620)

                Accounts payable and accrued expenses 

(49,122)

(8,453)

                Deferred revenue and other liabilities 

(23,023)

(44,508)

                    Net cash provided by operating activities

(57,732)

113,231

Cash flows from investing activities:

     Proceeds from sale of property, plant and equipment

146

246

     Purchases of property, plant and equipment

(36,465)

(54,722)

          Net cash used in investing activities

(36,319)

(54,476)

Cash flows from financing activities:

     Net proceeds from / (repayments of) line of credit

30,000

4,000

     Payments on other debt

(1,873)

(1,929)

     Payments of contingent consideration and hold back payments to acquisitions

(37,676)

     Dividends paid to shareholders

(2,847)

(24,572)

     Payments to non-controlling interest

(6,908)

(8,407)

     Tax payments related to the issuance of restricted stock units

(945)

(2,938)

     Payments of debt issuance costs

(2,635)

–

          Net cash used in financing activities

14,792

(71,522)

Effect of exchange rate changes on cash and cash equivalents and restricted cash

2,283

3,889

(Decrease) in cash, cash equivalents and restricted cash

(76,976)

(8,878)

Cash, cash equivalents and restricted cash, beginning of period

173,905

167,064

Cash, cash equivalents and restricted cash, end of period

$                       96,929

$                      158,186

 

TTEC HOLDINGS, INC. AND SUBSIDIARIES

RECONCILIATION OF NON-GAAP FINANCIAL INFORMATION

(In thousands, except per share data)

(unaudited)

Three months ended

Nine months ended

September 30,

September 30,

2024

2023

2024

2023

Revenue

$   529,427

$  602,956

$    1,640,150

$      1,836,636

Reconciliation of Non-GAAP Income from Operations and EBITDA:

Net (Loss) / Income from Operations

$     12,889

$    25,388

$     (188,813)

$         101,097

Restructuring charges, net

1,002

1,369

6,346

4,896

Impairment losses

4,688

4,124

241,544

11,083

Cybersecurity incident related impact, net of insurance recovery

–

–

–

(3,210)

Grant income for pandemic relief

–

–

–

40

Property costs not related to operations

424

744

2,329

744

Change in acquisition related obligation

–

–

–

483

Liability related to notifications triggered by labor scheme   (1)

2,563

–

(187)

–

Equity-based compensation expenses

4,333

6,608

15,249

16,410

Amortization of purchased intangibles 

8,169

9,073

25,053

27,083

         Non-GAAP Income from Operations

$     34,068

$    47,306

$       101,521

$         158,626

         Non-GAAP Income from Operations Margin

6.4 %

7.8 %

6.2 %

8.6 %

Depreciation and amortization

15,873

16,183

48,152

48,946

Changes in acquisition contingent consideration

(449)

102

(1,496)

6,864

Change in escrow balance related to acquisition

–

–

–

625

Loss on dissolution of subsidiary

–

–

–

301

Foreign SS Tax Recovery

–

–

(853)

–

Foreign VAT receivable write-off

–

–

770

–

Foreign exchange loss / (gain), net

1,825

(373)

2,381

839

Other Income (expense), net

(1,041)

687

953

(2,232)

         Adjusted EBITDA

$     50,276

$    63,905

$       151,428

$         213,969

         Adjusted EBITDA Margin

9.5 %

10.6 %

9.2 %

11.7 %

Reconciliation of Non-GAAP EPS:

Net (Loss) Income

$    (18,968)

$      1,796

$     (315,236)

$          26,470

Add:  Asset impairment and restructuring charges

5,690

5,493

247,890

15,979

Add:  Equity-based compensation expenses

4,333

6,608

15,249

16,410

Add:  Amortization of purchased intangibles

8,169

9,073

25,053

27,083

Add:  Cybersecurity incident related impact, net of insurance recovery

–

–

–

(3,210)

Add:  Grant income for pandemic relief

–

–

–

40

Add:  Change in acquisition related obligation

–

–

–

483

Add:  Property costs not related to operations

424

744

2,329

744

Add:  Liability related to notifications triggered by labor scheme

2,563

–

(187)

–

Add:  Foreign SS Tax Recovery

–

–

(853)

–

Add:  Foreign VAT receivable write-off

–

–

770

–

Add:  Changes in acquisition contingent consideration

(449)

102

(1,496)

6,864

Add:  Changes in escrow balance related to acquisition

–

–

–

625

Add:  Loss on dissolution of subsidiary

–

–

–

301

Add:  Foreign exchange loss / (gain), net

1,825

(373)

2,381

839

Less:  Changes in valuation allowance, return to provision adjustments and
other, and tax effects of items separately disclosed above

1,810

(590)

48,752

(6,974)

         Non-GAAP Net Income

$       5,397

$    22,853

$         24,652

$          85,654

             Diluted shares outstanding

47,860

47,488

47,618

47,417

         Non-GAAP EPS

$0.11

$0.48

$0.52

$1.81

Reconciliation of Free Cash Flow:

Cash Flow From Operating Activities:

   Net (loss) / income

$    (18,968)

$      1,321

$     (315,236)

$          26,470

   Adjustments to reconcile net income to net cash provided by operating activities:

          Depreciation and amortization

24,042

25,256

74,258

76,368

          Other

(96,451)

(58,295)

183,246

10,393

   Net cash provided by operating activities

(91,377)

(31,718)

(57,732)

113,231

Less – Total Cash Capital Expenditures

8,783

21,768

36,465

54,722

        Free Cash Flow

$  (100,160)

$  (53,486)

$       (94,197)

$          58,509

(1) –  For further information, please see discussion in the Risk Factors section of the 2023 Form 10-K filed on February 29, 2024.

Reconciliation of Non-GAAP Income from Operations and Adjusted EBITDA by Segment :

TTEC Engage

TTEC Digital

TTEC Engage

TTEC Digital

Q3 24

Q3 23

Q3 24

Q3 23

YTD 24

YTD 23

YTD 24

YTD 23

Income / (Loss) from Operations

$       5,414

$    13,463

$     7,474

$    11,925

$     (205,585)

$          81,233

$     16,771

$    19,864

Restructuring charges, net

202

634

801

735

5,697

2,427

650

2,469

Impairment losses

4,255

4,124

433

–

238,600

8,229

2,944

2,854

Cybersecurity incident related impact, net of insurance recovery

–

–

–

(3,210)

–

–

Grant income for pandemic relief

–

–

–

40

–

–

Property costs not related to operations

424

744

–

–

2,329

744

–

–

Change in acquisition related obligation

–

–

–

–

–

–

483

Liability related to notifications triggered by labor scheme

2,563

–

–

–

(187)

–

–

–

Equity-based compensation expenses

2,701

4,327

1,632

2,281

9,748

10,599

5,501

5,811

Amortization of purchased intangibles 

4,098

4,649

4,071

4,424

12,306

13,951

12,747

13,132

         Non-GAAP Income from Operations

$     19,657

$    27,941

$    14,411

$    19,365

$         62,908

$         114,013

$     38,613

$    44,613

Depreciation and amortization

12,958

13,807

2,915

2,377

39,849

41,695

8,303

7,252

Changes in acquisition contingent consideration

(449)

102

–

(1,496)

6,864

–

–

Change in escrow balance related to acquisition

–

–

–

625

–

–

Loss on dissolution of subsidiary

–

–

–

–

301

–

–

Foreign VAT receivable write-off

–

–

–

770

–

–

     Foreign SS Tax Recovery

–

–

–

(853)

–

Foreign exchange loss / (gain), net

1,725

(297)

100

(76)

2,518

815

(138)

24

Other Income (expense), net

(944)

578

(97)

108

833

(2,332)

121

99

         Adjusted EBITDA

$     32,947

$    42,131

$    17,329

$    21,774

$       104,529

$         161,981

$     46,899

$    51,988

 

 

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SOURCE TTEC Holdings, Inc.

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Technology

Shipshape Solutions Announces First Partner to Offer It’s Private Label App for Home Maintenance, Rescon Basement Solutions

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November 6, 2024

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Shipshape Solutions launches Private Label App for Rescon Basement Solutions to offer customers home maintenance monitoring and alerts. This partnerships combines Rescon’s home services expertise with Shipshape’s smart home technology to enhance the customer experience in the trades.

AUSTIN, Texas, Nov. 6, 2024 /PRNewswire-PRWeb/ — Shipshape Solutions, a pioneer in smart home maintenance technology, today announced its partnership with Rescon Basement Solution (RBS), an industry leader in basement and foundation repair, to launch an innovative Private Label App for home maintenance monitoring. Designed to empower homeowners with proactive solutions, this first-of-its-kind app brings cutting-edge technology directly to RBS customers, allowing them to protect and maintain their homes with unprecedented ease.

“By partnering with Shipshape to launch this first-of-its-kind RBS app, we’re equipping our customers with the best tools available to keep their homes safe, efficient, and well-maintained.” – Christopher Brown, CEO and Founder of Rescon Basement Solutions

“At Rescon, we are committed to staying at the forefront of innovation in our industry, and Shipshape’s cutting-edge monitoring technology represents the future of home maintenance,” said Christopher Brown, CEO and Founder of Rescon Basement Solutions. “By partnering with Shipshape to launch this first-of-its-kind private label app, we’re equipping our customers with the best tools available to keep their homes safe, efficient, and well-maintained.”

The Rescon Private Label App, powered by Shipshape, allows RBS to integrate the latest smart home technology into their services, offering homeowners unprecedented control and insight into their home’s critical systems. The app’s key features include:

Real-time monitoring of critical systems, such as sump pumps and dehumidifiers, to detect issues before they become costly repairs.
Automated maintenance alerts to help ensure each system runs smoothly, extending the life of essential home components.
24/7 remote access to home system data, allowing users to monitor their homes from anywhere and make informed decisions.
Seamless service integration with RBS technicians, simplifying repairs and inspections to maintain peak home performance.

Adam Morrisey, Chief Growth Officer at Shipshape Solutions, emphasized the importance of this partnership: “Rescon is an industry leader partnering with Shipshape to transform the customer experience in home services.”

This partnership combines RBS’s home services expertise with Shipshape’s technological innovations to redefine the approach in the home maintenance industry by reducing the risks associated with unexpected home repairs and making it easier for homeowners to access their trusted service providers.

About Shipshape Solutions
Shipshape Solutions is on a mission to make homes smart enough to take care of themselves. The company’s predictive maintenance platform integrates smart home technology to provide homeowners with actionable insights that improve system performance, safety, and efficiency. Based in Austin, TX, Shipshape is revolutionizing the home services industry with its innovative solutions. For more information, visit http://www.shipshape.ai

About Rescon Basement Solutions
Rescon Basement Solutions is a trusted leader in basement waterproofing, foundation repair, and crawl space encapsulation in New England. Known for their commitment to quality and customer satisfaction, Rescon delivers innovative and reliable solutions to protect homes from water damage and foundation issues. Learn more at resconsolutions.com.

Media Contact

Adam Morrisey, Shipshape Solutions, Inc., (205) 207-5775, adam@shipshape.ai, www.shipshape.ai

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SOURCE Shipshape Solutions, Inc.

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Indium Tin Oxide (ITO) Market to Grow by USD 239.8 Million from 2024-2028, Driven by Rising Renewable Energy Dependence and AI-Powered Market Evolution – Technavio

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NEW YORK, Nov. 6, 2024 /PRNewswire/ — Report with the AI impact on market trends – The Global Indium Tin Oxide (ITO) market size is estimated to grow by USD 239.8 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  5.6% during the forecast period. Increasing dependency on renewable energy sources is driving market growth, with a trend towards increased deposition of silver nanoparticles on it. However, shortage in indium production poses a challenge.Key market players include Amalgamated Metal Corp. PLC, American Elements, Diamond Coatings Inc., ENAM OPTOELECTRONIC MATERIAL CO. LTD., ENEOS Holdings Inc., Guangxi Crystal Union Photoelectric Materials Co. Ltd., Indium Corp., Knight Optical Ltd., Kurt J Lesker Co., Merck KGaA, MITSUI MINING and SMELTING CO. LTD., NANOGRAFI Co. Inc., Nanoshel LLC, Nitto Denko Corp., NYACOL Nano Technologies Inc., OPCO Laboratory Inc., Otto Chemie Pvt. Ltd., Tosoh Corp., Ulvac Inc., and Umicore SA.

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Indium Tin Oxide (ITO) Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 5.6%

Market growth 2024-2028

USD 239.8 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

5.2

Regional analysis

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

Performing market contribution

APAC at 53%

Key countries

China, Japan, South Korea, US, and Canada

Key companies profiled

Amalgamated Metal Corp. PLC, American Elements, Diamond Coatings Inc., ENAM OPTOELECTRONIC MATERIAL CO. LTD., ENEOS Holdings Inc., Guangxi Crystal Union Photoelectric Materials Co. Ltd., Indium Corp., Knight Optical Ltd., Kurt J Lesker Co., Merck KGaA, MITSUI MINING and SMELTING CO. LTD., NANOGRAFI Co. Inc., Nanoshel LLC, Nitto Denko Corp., NYACOL Nano Technologies Inc., OPCO Laboratory Inc., Otto Chemie Pvt. Ltd., Tosoh Corp., Ulvac Inc., and Umicore SA

Market Driver

Indium Tin Oxide (ITO) is a transparent conducting oxide material widely used in various industries due to its superior optical and electrical properties. One method to enhance these properties is by depositing noble metal nanoparticles, such as silver, onto ITO surfaces. Silver nanoparticles, in particular, exhibit unique properties like large surface energies and quantum confinement effect, leading to strong responses in the visible light region. The plasma-assisted hot-filament evaporation (PAHFE) technique is used to produce high-density crystalline silver nanoparticles on ITO, controlling their size and distribution. This improvement in ITO’s properties opens up new applications, including touchscreens, solar cells, and sensors, driving the growth of the Indium Tin Oxide market during the forecast period. 

Indium Tin Oxide, or ITO, is a transparent semiconductor made from Indium, Tin, and Oxygen. It’s produced using methods like electron beam evaporation and sputter deposition. ITO is known for its high transparency and conductivity, making it ideal for various applications. These include touch panels, sensors, flat panels, electroluminescent displays, photovoltaic cells, and heat reflective coatings. ITO’s physical properties make it excellent for electromagnetic induction shielding, ultraviolet resistance, and colorfastness. In electronics, ITO is used in touchscreens, shield glass, and advanced driver assistance systems in smart devices, screens (televisions, tablets, smartphones, cameras, computer monitors), and even in smart automobiles. Its uses extend to construction with applications in gas sensors and LCD displays. ITO is a versatile material, contributing significantly to the semiconductor industry. 

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Market Challenges

Indium tin oxide (ITO) is a crucial material in the electronics industry, accounting for 90% of its composition. However, the availability of indium, the primary component of ITO, is uncertain due to trade restrictions and quotas imposed by major producers like China. These policies have resulted in indium supply shortages, potentially impacting the ITO market and downstream industries. Recycling and advanced refining technologies offer potential solutions to restore the supply-demand balance. Despite minor imbalances, the long-term indium supply is expected to pose challenges to the ITO market growth during the forecast period.Indium Tin Oxide (ITO) is a transparent conducting oxide widely used in various industries, including electronics, construction, and energy. In flat panels, ITO is essential for LCD displays, electroluminescent displays, and touchscreens. In the photovoltaic sector, it’s used in solar cells. ITO also finds applications in heat reflective coatings, shield glass, and RF interference shielding. However, challenges persist. Flat panels face intense competition from OLED and QLED technologies. In electroluminescent displays and photovoltaic cells, ITO’s high cost is a concern. ITO’s use in touchscreens and heat reflective coatings is threatened by alternatives like IZO and FTO. ITO’s physical properties, such as UV resistance and electronic conductivity, make it valuable in various sectors. In electronics, it’s used in semiconductors and smart devices like televisions, tablets, smartphones, cameras, computer monitors, and smart automobiles. In construction, ITO is used in energy-efficient windows. In the semiconductor industry, low-temperature vacuum deposition is a potential solution to reduce ITO’s production costs. Despite these challenges, the growing demand for mobile phones, flexible electronics, and energy-efficient technologies is expected to drive the ITO market forward.

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Segment Overview 

This indium tin oxide (ito) market report extensively covers market segmentation by  

Technology 1.1 Sputtering1.2 Vacuum evaporation1.3 Chemical vapor deposition1.4 Spray pyrolysis1.5 OthersApplication 2.1 Electrochromic displays and LCDs2.2 Touch panels2.3 Photovoltaics2.4 Transparent electrodes2.5 OthersGeography 3.1 APAC3.2 North America3.3 Europe3.4 South America3.5 Middle East and Africa

1.1 Sputtering-  ITO (Indium Tin Oxide) films are primarily produced using sputtering techniques due to their high-quality, homogeneous, and pure nature. Among these techniques, traditional sputtering offers adaptability in depositing ITO films on substrates. However, it has drawbacks such as substrate overheating and low deposition rates due to secondary electron bombardment from the target. In response, magnetron sputtering has emerged as a preferred method, delivering superior film quality, homogeneity, and adhesive strength. This trend is particularly prominent in APAC markets, including South Korea, Japan, and China, driven by the expanding touch panel manufacturing industry. The ITO market growth is primarily influenced by the sputtering segment’s increasing demand due to its crucial role in downstream industries.

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Research Analysis

Indium Tin Oxide (ITO) is a transparent conducting oxide made from the elements Indium, Tin, and Oxygen. It is widely used in various industries due to its unique physical properties. ITO is produced through techniques such as electron beam evaporation and sputter deposition, resulting in a thin protective coating with high transparency and conductivity. ITO is known for its excellent electromagnetic induction shielding and ultraviolet resistance, making it ideal for use in electronic devices, construction materials, and touch panels. Its colorfastness and heat reflective properties also make it suitable for use in gas sensors and other applications. ITO is a semiconductor, with the chemical formula In2O3:Sn, and is made up of alternating layers of Indium Oxide and Tin Oxide. Its high transparency and conductivity make it a popular choice for applications requiring transparent semiconductors. ITO is used in various industries, including electronics, construction, and automotive, due to its ability to enhance the performance of various materials and devices.

Market Research Overview

Indium Tin Oxide (ITO) is a transparent semiconductor material made by combining Indium, Tin, and Oxygen. ITO is known for its high transparency and electrical conductivity, making it an essential component in various electronic devices. It is typically produced using techniques such as electron beam evaporation and sputter deposition. ITO functions as a thin protective coating in various applications, including touch panels, sensors, flat panels, electroluminescent displays, photovoltaic cells, and heat reflective coatings. ITO provides benefits such as colorfastness, electromagnetic induction shielding, and ultraviolet resistance. It is used extensively in the electronics industry for touchscreens, shield glass, and advanced driver assistance systems in smart devices like televisions, tablets, smartphones, cameras, computer monitors, and smart automobiles. ITO’s physical properties make it suitable for various applications, including energy-efficient windows, gas sensors, LCD displays, electrochromic displays, field emission displays, and electroluminescent displays. With the increasing demand for flexible electronics and energy-efficient devices, ITO is undergoing research for alternatives with lower-temperature vacuum deposition methods. ITO’s applications extend beyond electronics to construction, where it is used in various coatings for energy efficiency and radiation shielding.

Table of Contents:

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

TechnologySputteringVacuum EvaporationChemical Vapor DepositionSpray PyrolysisOthersApplicationElectrochromic Displays And LCDsTouch PanelsPhotovoltaicsTransparent ElectrodesOthersGeographyAPACNorth AmericaEuropeSouth 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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Technology

Smart City ICT Infrastructure Market to Grow by USD 138.6 Billion from 2024-2028, Driven by Rising Smart City Investments and AI-Driven Market Transformation – Technavio

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5 mins ago

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November 6, 2024

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NEW YORK, Nov. 6, 2024 /PRNewswire/ — Report with the AI impact on market trends – The global smart city information and communication technologies (ict) infrastructure market  size is estimated to grow by USD 138.6 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  23.74%  during the forecast period. Growing investments in smart cities is driving market growth, with a trend towards proliferation of smart city projects in emerging economies. However, growing adaption of machine-to-machine in various industries  poses a challenge.Key market players include ABB Ltd., Accenture Plc, AT and T, China Mobile Ltd., Cisco Systems Inc., Deutsche Telekom AG, Hitachi Ltd., Honeywell International Inc., Huawei Technologies Co. Ltd., International Business Machines Corp., Microsoft Corp., Nokia Corp., NTT Communications Corp., Oracle Corp., Schneider Electric SE, Siemens AG, Telefonaktiebolaget LM Ericsson, Telefonica SA, Verizon, and Vodafone Group Plc.

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

Application (Communication, Transportation, Express, Governement, and Education), Component (Smart utilities, Smart transport, Smart home and building, and Others), and Geography (Europe, North America, APAC, Middle East and Africa, and South America)

Region Covered

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

Key companies profiled

ABB Ltd., Accenture Plc, AT and T, China Mobile Ltd., Cisco Systems Inc., Deutsche Telekom AG, Hitachi Ltd., Honeywell International Inc., Huawei Technologies Co. Ltd., International Business Machines Corp., Microsoft Corp., Nokia Corp., NTT Communications Corp., Oracle Corp., Schneider Electric SE, Siemens AG, Telefonaktiebolaget LM Ericsson, Telefonica SA, Verizon, and Vodafone Group Plc

Key Market Trends Fueling Growth

In developed economies of North America and Europe, smart city projects have been underway for over a decade, with numerous implementations. The Asia-Pacific region is the fastest-growing market for smart city technologies, driven by urban population growth and infrastructure development in emerging countries like India and China. For instance, India plans to implement pilot smart city projects in 100 cities, while China aims to build 500. The Association of Southeast Asian Nations (ASEAN) also supports smart urban development in 26 cities by 2025. Rapid urbanization, particularly in India, necessitates the deployment of smart city infrastructure to help governments, healthcare, and transportation providers respond effectively to urban challenges. With the increasing number of smart devices in these cities, a substantial amount of data will be generated, necessitating analysis for business improvement and innovation. Urban population growth, fueled by mass migration, will continue to expand the smart city market in emerging economies. 

At Spherical Insights & Consulting, we’re excited about the trends shaping the Smart City ICT Infrastructure market. With the Smart Cities Mission, urban areas are transforming into Intellectual Metropolises, integrating Digital Infrastructure for Smart Grid, Water Network, Healthcare, Education, Security, Transport, Express Industry, and more. Telecommunications are advancing with 5G Networks and Fiber-Optic Internet, while Wireless Technologies ensure Operational Efficiency and Citizens’ Welfare. Urban Practitioners leverage Innovative Technology for Smart Energy, Buildings, and Governance. Sustainable Development is at the core, focusing on Clean Environment, Water Supply, Sanitation, and Solid Waste Management. Urban Mobility and Public Transportation are essential for Urbanization and Affordable Housing. Smart Home, Digital Transformation, Cybersecurity, and Data Privacy are key areas of Economic Development. Let’s work together to create Sustainable, Connected, and Efficient Cities. 

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Market Challenges

•         The Smart City Information and Communication Technologies (ICT) market, specifically Machine-to-Machine (M2M) solutions, holds significant potential in various industries such as automotive, manufacturing, energy, healthcare, and military. Operators are challenged to provide unique M2M platforms catering to distinct use cases due to market fragmentation. M2M devices and applications necessitate different connectivity requirements than conventional mobile data devices, leading to potential network overload during emergencies or disasters with millions of connected devices. High signaling traffic from numerous small devices operating on and off the network further complicates matters. However, by optimally utilizing existing spectrum and network assets, profits can be maximized, resulting in reduced customer acquisition and support costs and increased revenue through the integration of new wireless devices and business processes. Integrating M2M devices with cellular M2M techniques is intricate for vendors, requiring redesigning of devices and integration with back-end infrastructure using middleware and enterprise application software. Factors like network overload, poor protocol implementation, and emergencies or disasters can impact the growth of the M2M market during the forecast period.

•         The Smart City ICT infrastructure market is a dynamic and growing industry focused on enhancing operational efficiency and improving citizens’ welfare in urban areas. This involves the deployment of innovative technology in sectors such as energy, buildings, transportation, governance, and residential living. Key challenges include ensuring a clean environment with sustainable solutions for water supply, sanitation, and solid waste management. Urban mobility and public transportation are also crucial, as is the provision of affordable housing, health, and education. Digital transformation is at the heart of this revolution, with cybersecurity and data privacy essential for protecting citizens’ information. Economic development, urbanization, and industrial transformation are also major drivers, with energy solutions, value-added resellers, investors, consulting firms, and venture capitalists playing key roles in driving innovation. Silicon Valleys and Intellectual Metropolises are hubs for this technological urban evolution, shaping the future of our cities.

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Segment Overview 

This smart city information and communication technologies (ict) infrastructure market report extensively covers market segmentation by

Application 1.1 Communication1.2 Transportation1.3 Express1.4 Governement1.5 EducationComponent 2.1 Smart utilities2.2 Smart transport2.3 Smart home and building2.4 OthersGeography 3.1 Europe3.2 North America3.3 APAC3.4 Middle East and Africa3.5 South America

1.1 Communication-  The communication segment of the global smart city ICT infrastructure market encompasses wireless networks, broadband infrastructure, IoT, smart grid, digital signage and displays, and public safety and emergency management technologies. Wireless networks serve as the foundation for modern smart city communications, enabling citizens and businesses to access information and services citywide. High-speed broadband connectivity is essential for numerous smart city applications, such as smart transportation, buildings, and energy. The IoT connects various devices and sensors, allowing city officials to monitor and manage city functions. The smart grid optimizes energy consumption, while digital signage and displays offer interactive communication channels. Public safety and emergency management technologies enhance response capabilities during crises. Overall, these communication solutions facilitate effective city-stakeholder interaction and enable city officials to manage various city aspects, fueling the demand for communication systems in the smart city market.

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Research Analysis

The Smart City Information and Communication Technologies (ICT) infrastructure market refers to the advanced digital systems and networks that enable the development of smart cities. These cities leverage ICT to optimize urban services and improve the quality of life for residents. Key areas of focus include Smart Grid for energy management, Smart Water Network for water conservation, Smart Healthcare for efficient healthcare delivery, Smart Education for digital learning, Smart Security for public safety, Smart Transport for efficient mobility, and the Express Industry for logistics optimization. Digital Infrastructure, Population Expansion, and the Smart Cities Mission are driving the demand for these technologies. Urban practitioners, Silicon Valleys, Intellectual Metropolis, and Innovative Technology are at the forefront of this transformation. Smart Energy, Smart Buildings, Smart Transportation, Smart Governance, Smart Residents, Sustainable Development, and Urban Landscapes are other essential components of a smart city. The ultimate goal is to create a city that is operationally efficient, citizen-centric, and sustainable.

Market Research Overview

The Smart City Information and Communication Technologies (ICT) infrastructure market refers to the deployment of advanced technologies and digital solutions to enhance urban living and promote sustainable development. Spherical Insights & Consulting reports that the market is witnessing significant growth due to the integration of various sectors such as Smart Grid, Smart Water Network, Smart Healthcare, Smart Education, Smart Security, and Smart Transport. The express industry, digital infrastructure, and telecommunications are also playing a crucial role in this transformation. Population expansion and government initiatives like the Smart Cities Mission are driving the demand for ICT infrastructure. Innovative technologies like 5G networks, fiber-optic internet, and wireless technologies are being adopted to ensure operational efficiency and improve citizens’ welfare. Urban practitioners and Silicon Valleys are collaborating to create Intellectual Metropolises, where smart energy, smart buildings, and smart transportation are becoming the norm. Smart Governance, smart residents, sustainable development, and urban landscapes are other areas where ICT infrastructure is making a significant impact. Infrastructure development, clean environment, water supply, sanitation, solid waste management, urban mobility, public transportation, affordable housing, health and education, smart home, and digital transformation are all benefiting from this technological revolution. Value-added resellers, investors, consulting firms, and venture capitalists are also showing interest in the market, recognizing the potential for economic development and industrial transformation. However, challenges such as cybersecurity, data privacy, and affordability remain, requiring ongoing attention and innovation.

Table of Contents:

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

ApplicationCommunicationTransportationExpressGovernementEducationComponentSmart UtilitiesSmart TransportSmart Home And BuildingOthersGeographyEuropeNorth AmericaAPACMiddle East And AfricaSouth America

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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