Pune, India, Aug. 04, 2022 (GLOBE NEWSWIRE) -- The global Contact Center Software Market size was USD 26.93 billion in 2021. The market is expected to grow from USD 30.74 billion in 2022 to USD 78.75 billion in 2029 at a CAGR of 14.4% during the 2022-2029 period. This information is provided by Fortune Business Insights™, in its report, titled, “Contact Center Software Market, 2022-2029.”
According to our research analysts, developing technologies such as artificial intelligence, cloud, predictive analysis, as well as machine learning, among other, are estimated to refine contact center competences. The rising alertness of civil privileges has led to the growth of customer inquiries across industries.
Key Industry Development:
January 2020: Genesys Telecommunications Laboratories, Inc. declared its collaboration with Microsoft Corporation to run its customer experience solution, Genesys Engage on Microsoft Azure. The companies are concentrating on delivering the paramount cloud services and a protected environment to aid companies to incorporate AI with its customer service.
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|Forecast Period||2022 to 2029|
|Forecast Period 2022 to 2029 CAGR||14.4%|
|2029 Value Projection||USD 78.75 Billion|
|Contact Center Software Market Size in 2021||USD 26.93 Billion|
|Historical Data for||2018 to 2020|
|No. of Pages||160|
|Segments covered||Component, Deployment, Enterprise, Industry|
|Contact Center Software Market Growth Drivers||Increased Implementation of Omnichannel Services to Ensure Customer Satisfaction|
|Increased Demand for Cloud-Based Contact Centers to Support Market Growth|
Demand for Support Services to Hasten Acceptance of Contact Centers amid Pandemic
To tackle the global crisis of coronavirus pandemic and satisfy social distancing resolutions, businesses all around the globe are implementing work-from-home guidelines in elevated numbers.
This tactic has a substantial influence on the demand for contact center services in different sectors. Additionally, owing to pandemic difficulties, businesses are witnessing unanticipated behavioral fluctuations among their client base.
Click here to get the short-term and long-term impact of COVID-19 on this Market:
Drivers and Restraints
Elevated Application of Omni channel Services to Safeguard Customer Contentment
Customers interact with the organization via digital communication channels comprising emails, SMS, phone calls, social media, video, live chats, and more, with the assistance of Omni channel solution. It delivers tailored communication with customers, which amplifies customer satisfaction.
The contact center solution decreases customer service prices while surging the enhanced number of customer criticisms. This is expected to drive the contact center software market growth during the projected period.
Component, Deployment, Enterprise Size, Industry, and Region are studied for the Market
On the basis of components, the market is classified into solutions and services.
By deployment, the Contact Center Software Market is segmented into the cloud and on-premises.
In terms of enterprise size, the market is categorized as large enterprises and small & medium enterprises.
On the basis of industry, the market is divided into BFSI, IT and telecom, government, media and entertainment, ITES, healthcare, travel and hospitality, consumer goods and retail, and others. The healthcare is estimated to grow promptly as a result of augmented customer inquiries across the industry.
Geographically, it is studied across North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America.
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The Contact Center Software Market report offers valuable insights obtained by a thorough study done by our researchers. Extensive research was conducted to provide the estimated size of the contact center software market. The data used to project the shares for multiple segments at the country, regional, and global levels are obtained from in-depth interviews with numerous stakeholders. Furthermore, we have gained access to several global and regional paid databases to deliver precise information to make business investment decisions easy for you.
North America is predicted to hold the largest contact center software market share. The U.S. is estimated to observe elevated growth because of augmented incorporation and invention in technologies such as cloud computing, big data as well as AI.
Europe is projected to grow progressively during the forecast period, owing to the increasing service-based industries in this region. Germany and the U.K. are predicted to dominate the regional market.
Asia Pacific is probable to grow promptly during the forecast period owing to the existence of considerable number of IT as well as ITES companies in this region.
Procurements Initiated by Crucial Companies Set to Endorse Market Growth
The frontrunners present in the Contact Center Software Market incessantly root for proficient tactics to thrust their brand value as well as endorse the global market growth of contact center software with least possible hurdles. One such effective strategy is procuring competitive companies and further safeguarding a profit for both the companies.
List of Key Players Mentioned in the Report:
- Alcatel Lucent Enterprise (France)
- NEC Corporation (Japan)
- Mitel Networks Corporation (Canada)
- Bright Pattern, Inc. (U.S.)
- Enghouse Interactive Inc. (U.S.)
- Genesys Telecommunications Laboratories, Inc. (U.S.)
- Five9 (U.S.)
- 8x8, Inc. (U.S.)
- NICE Ltd. (Israel)
- 3CLogic (U.S.)
Quick Buy - Contact Center Software Market Research Report
Major Table of Contents:
- Definition, By Segment
- Research Methodology/Approach
- Data Sources
- Executive Summary
- Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, 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 Key Players
- Global Contact Center Software Key Players Market Share Insights and Analysis, 2021
- Global Contact Center Software Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2018-2029
- Key Findings
- By Component (USD)
- Interactive Voice Response (IVR)
- Automatic Call Distribution
- Computer Telephony Integration (CTI)
- Call Recording
- Reporting and Analytics
- Workforce Optimization
- Customer Collaboration
- Professional Services
- Support & Maintenance
- Managed Services
- Professional Services
- By Deployment (USD)
- By Enterprise Size (USD)
- Small & Medium Size Enterprise
- Large Enterprise
- By Industry (USD)
- IT & Telecom
- Consumer Goods and Retail
- Travel and Hospitality
- Media & Entertainment
- By Region (USD)
- North America
- Latin America
- Middle East & Africa
- Asia Pacific
How big is the Contact Center Software Market?
The global contact center software market size was valued at USD 26.93 billion in 2021. The market is projected to grow from USD 30.74 billion in 2022 to USD 78.75 billion in 2029, exhibiting a CAGR of 14.4% during the forecast period.
How big is Contact Center Software Market In North America?
The market in North America stood at USD 8.38 billion in 2021 and is expected to gain a huge portion of the market share in the coming years.
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