Contact Center Software Market by Solution (Customer Collaboration, Dialers, ACS, IVR, CTI, Workforce Optimization, Reporting, and Analytics), Service, Deployment Type (On-Premises and Cloud), Organization Size, Vertical, and Region - Global Forecast to 2022
“Seamless customer experience and automation of inbound and outbound processes are driving the contact center software market”
The contact center software market size is expected to grow from USD 15.29 billion in 2017 to USD 29.13 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 13.8%. Enhanced customer experience through multiple channels, such as voice, video, web, and social media has led to the adoption of contact center software. However, the high initial investment incurred when integrating new age solutions with legacy systems is one of the major restraints for the contact center software market.
“Retail and consumer goods vertical is expected to grow at the highest CAGR during the forecast period”
The retail and consumer goods vertical is expected to grow at the highest CAGR during the forecast period. The vertical is becoming more customer centric with its continuous focus on leveraging internet technology. Organizations in the vertical have adopted a strategy of managing business operations globally and working locally on the development and pre-production sanction of products. Contact center software empower organizations to reach customers and manage their queries through multiple touch points, such as voice, video, web, mobile, and social media. Furthermore, contact center software provide opportunity to organizations to cross-sell and upsell products and services to customers by facilitating effective communication through multiple channels.
“APAC is expected to record the highest growth rate in the contact center software market during the forecast period”
Asia Pacific (APAC) is expected to grow at the highest CAGR in the global contact center software market during the forecast period. Enterprises across various vertical are adopting contact center solutions to provide customers with enhanced experience. Additionally, a contact center software enables organizations to automate processes. It will help organizations improve the productivity of contact center agents. Large presence of SMEs in APAC augments the adoption of relatively low-cost cloud-based contact center for varied business needs. The region has huge potential for revenue generation at a significant rate, as organizations are looking forward to strengthen their brand presence and loyalty by reaching customers through multiple channels, including voice, video, web, mobile, applications, and social media. Furthermore, increasing mobility and cloud adoption in this region has encouraged organizations to adopt contact center software.
Breakdown of profile of primaries
• By Company: Tier 1 – 32%, Tier 2 – 44%, and Tier 3 – 24%
• By Designation: C-level – 72%, Director level – 19%, and Others – 9%
• By Region: North America – 62%, Europe – 18%, APAC – 11%, MEA – 6%, and Latin America – 3%
The contact center software market ecosystem comprises major vendors, such as Genesys Telecommunications Laboratories, Inc.(US), Cisco Systems (US), Avaya Inc. (US), Mitel Networks Corporation (Canada), Enghouse Interactive (US), SAP SE (Germany), Five9, Inc (US), Huawei Technologies Co., Ltd. (China), Alcatel-Lucent Enterprise (France), Oracle Corporation (US), 8x8, Inc. (US), Unify Inc. (US), and Drishti Soft Solutions Pvt. Ltd. (India).
The report includes in-depth competitive analysis of key players in the global contact center software market, with their company profiles, strength of their product portfolios, recent developments, and key market strategies. The research report segments the contact center software market by component (solutions and services), deployment type, organization size, vertical, and region.
Reasons to Buy the Report
The report will help the market leaders/new entrants in this market in the following ways:
1. The report segments the contact center software market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the subsegments. The market numbers are further split across various industries and regions.
2. The report helps the stakeholders to understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders in better understanding the competitors and gaining more insights to better position their businesses. There is a separate section on the competitive landscape, including competitor ecosystem, and mergers and acquisitions. Besides, there are company profiles of 13 players offering services in this market. In that section, market internals have been provided which will help put them ahead of the competitors.
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