Contact Center Solutions Market by Deployment, Type, and Geography - Forecast and Analysis 2020-2024
Global Contact Center Solutions Market: About this market
Technavio’s contact center solutions market analysis considers sales from voice, text, and social types. Our study also finds the sales of contact center solutions in APAC, Europe, North America, South America, and MEA. In 2019, the voice segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as the availability of advanced solutions such as IVR, ACD, CTI, and call recording will play a significant role in the voice segment to maintain its market position. Also, our global contact center solutions market report looks at factors such as increase in adoption of cloud-based contact center solutions, demand for cross-channel strategies, and demand for automation to reduce operational cost. However, integration issues with legacy systems, security issues associated with cloud solutions, and constant need to train contact center employees due to high attrition rate may hamper the growth of the contact center solutions industry over the forecast period.
Global Contact Center Solutions Market: Overview
Increase in the adoption of cloud-based contact center solutions
Cloud-based contact center solutions allow organizations to carry out customer communications virtually, through voice, email, or social media channels. Cloud-based contact center solutions also offer enterprises the flexibility to quickly adapt to changing business needs. Owing to such benefits, the demand for cloud-based contact center solutions has increased over recent years. This is encouraging vendors to launch new cloud-based contact center solutions to cater to the growing demand from enterprises, which will lead to the expansion of the global contact center solutions market at a CAGR of over 9% during the forecast period.
Increasing use of analytics solutions in contact centers
With the adoption of advanced technologies, such as cloud solutions, contact center organizations have started using analytics tools such as Al and big data to gain insights from the generated data and improve customer service experience. Contact centers offer services to enterprises during the sales and service phase of their customer relationship operations. Contact center organizations handle high volumes of such queries daily and often face issues in handling the queries efficiently.AI and ML-based solutions such as natural language generation (NLG), dialog state tracking (DST), and natural language processing (NLP) are being widely used by contact center organizations to improve the performance of agents. This development is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global contact center solutions market during the forecast period 2020-2024, click here.
With the presence of several major players, the global contact center solutions market is fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading contact center solutions manufacturers, that include 8x8 Inc., ALE International, Aspect Software Inc., Avaya Holdings Corp., Cisco Systems Inc., Enghouse Systems Ltd., Five9 Inc., Genesys Telecommunications Laboratories Inc., Mitel Networks Corp., and NEC Corp.
Also, the contact center solutions market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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