Contact Center Software Market To Reach USD 60.35 Billion


Pune, India, December 14, 2021 (GLOBE NEWSWIRE) – The world contact center software market The size is expected to reach USD 60.35 billion by 2027, with a CAGR of 14.3% during the forecast period. Growing investment in contact centers by the consumer and retail, BFSI and healthcare industries to improve customer experience will facilitate market growth, says Fortune Business Insights, in a report titled Contact Center Software Market Size, Share and COVID-19 Impact Analysis, by Component (Solution and Services), by Deployment (Cloud and On-Premises), by Company Size (Large and Small and Medium Enterprises) Companies), by Industry (BFSI, ITES, IT & Telecommunications, Government, Healthcare, Consumer & Retail, Travel & Hospitality, Media & Entertainment & Others) and Regional Forecast, 2020-2027. The market size was $ 20.72 billion in 2019.

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List of Key Companies in Contact Center Software Market:

  • Alcatel Lucent Enterprise (Colombes, France)
  • Cisco Systems, Inc. (California, United States)
  • Genesys Telecommunications Laboratories, Inc. (California, United States)
  • Five9 (California, United States)
  • 8×8, Inc. (California, United States)
  • NICE Ltd. (Ra’anana, Israel)
  • 3CLogic (Maryland, United States)
  • NEC Corporation (Tokyo, Japan)
  • Oracle Corporation (California, United States)
  • Avaya, Inc. (California, United States)
  • SAP SE (Walldorf, Germany)
  • Mitel Networks Corporation (Ottawa, Canada)
  • Bright Pattern, Inc. (California, United States)
  • Aspect Software (Massachusetts, United States)
  • Evolve IP, LLC. (Pennsylvania, United States)
  • Enghouse Interactive Inc. (Arizona, United States)
  • Microsoft Corporation (Washington, United States)
  • West Corporation (Nebraska, United States)
  • Zendesk, Inc. (California, United States)
  • ZTE Corporation (Shenzhen, China)

Scope and segmentation of the report –

Cover of the report Details
Forecast period 2020-2027
Forecast period 2020 to 2027 CAGR 14.3%
2027 value projection $ 60.35 billion
Year of reference 2019
Market size in 2019 $ 20.72 billion
Historical data for 2016-2018
Number of pages 140
Covered segments Making up ; Deployment ; Size of the company ; Industry; Regional
Growth drivers Growing implementation of omnichannel services to ensure customer satisfaction.
Growing demand for cloud-based contact center to increase market growth.

Pitfalls and challenges

High cost investment to hamper market demand.

The coronavirus incident caused huge losses to several industries across the world. The governments of several countries have put in place a lockdown to thwart the spread of this deadly virus. Such plans have caused disruption in the production and supply chain. But, with time and resolve, we can fight this harsh weather and return to normalcy. Our well-reviewed reports will help companies receive detailed information about the current scenario of each market so that you can adopt necessary strategies accordingly.

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The Contact Center Software Market report includes:

  • Global study of all segments and sub-segments
  • Important information on the competitive landscape
  • Main market drivers and constraints
  • Recent developments by prominent actors
  • Leading regions in the world
  • Obtaining data on COVID-19 and its effects on the market

Click here to learn about the short and long term impact of COVID-19 on this market.

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Market engine:

Growing adoption of cloud-based contact center to drive growth

The increasing improvement in cloud technology is expected to have a huge impact on the market. The cost of on-premise solutions has prompted companies to switch to cloud-based software, helping to expand the market. For example, cloud-based software offers more flexibility and scalability than traditional contact centers, in addition to providing instant support and better service to customers. It also makes it easier for agents to access information stored in the cloud to help the customer. Thus, reducing the waiting time for customers, improving the customer experience and loyalty.

Strong demand for Support services to boost market prospects in times of pandemic

The increased demand for instant solutions among customers has led to the employment of contact center. However, organizations have turned to cloud-based customer service platforms because of its remote access advantage, which is hugely beneficial in the days of the coronavirus. For example, Avaya Holdings Corp announced the introduction of remote contact center solutions for employees working from home. Cloud installations ensure smooth communication between the customer and the agent working remotely. The implementation of cloud-based solutions has made it possible to secure the employees against the transmission of the virus. According to Cisco System, Inc.’s Global Contact Center 2020 survey, 62% of industries plan to implement a cloud contact center within the next 18 months.

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Regional analysis:

Implementation of advanced technologies to aid development in North America

The contact center software market in North America is expected to witness a high growth rate during the forecast period owing to the increasing integration of innovative technologies such as cloud, big data and artificial intelligence in the contact center software for improved customer service. The BFSI, retail, healthcare and government sectors are focused on implementing the latest technology in their systems, in turn promoting the market in the region. Europe is expected to hold a significant share during the forecast period due to the booming service industries in Germany and UK.

Key development:

january 2020: Genesys announced that it has signed a partnership with Microsoft Corporation to run its customer experience solution, Genesys Engage on Microsoft Azure. Businesses are focused on delivering rich cloud services to help businesses integrate AI into their customer service.

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Contents

  • introduction
    • Definition, by segment
    • Research methodology / approach
    • Information source
  • Summary
  • Market dynamics
    • Macro and micro economic indicators
    • Drivers, constraints, opportunities and trends
    • Impact of COVID-19
      • Short term impact
      • Long term impact
  • Competition landscape
    • Business strategies adopted by key players
    • Consolidated SWOT analysis of the main players
    • Porter’s Five Forces Analysis
    • Global Market Share Analysis and Matrix, 2019
  • Key market insight and analysis, by segment
  • Global Contact Center Software Market Size Estimates and Forecasts (Quantitative Data), by Segments, 2016-2027
    • By component (value)
      • Solution
        • Interactive voice response (IVR)
        • Automatic call distribution
        • Integration of computer telephony (CTI)
        • Call recording
        • Reports and analyzes
        • Dialer
        • Workforce optimization
        • Customer collaboration
        • Others
      • Services
        • Professional services
          • Consulting services
          • Training and education
          • Assistance and maintenance
        • Managed Services
    • By deployment (value)
    • By company size (value)
      • Large companies
      • Small and medium enterprises
    • By industry (value)

Continued..

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