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The 'contact center software market by component (solutions and services), deployment model (cloud and on-premises), organization size ( large and small and medium-sized enterprises), industry and region - global forecast to 2027' report has been added to
The Contact Center Software market size is expected to grow from USD 35.2 billion in 2022 to USD 93.7 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 21.6% during the forecast period.
The services enables benefit the organizations by enhancing the contact center solution's execution and streamlining their operations
Services form an integral part of the Contact Center Software software life cycle. With these services, contact center solution providers enables end users to integrate and deploy software configured to their requirements. Enterprises across the globe are investing heavily on integrating several applications and tools, such as CRM into their business processes, thus, driving the growth of this segment. The growing need for business agility and rapid deployment of cloud-based solutions also contributes well for the growth of the these services in the market. The managed services segment is expected grow at fast rate over the forecast period.
Scalability and cost-effectiveness are the major factors driving the adoption of cloud-based Contact Center Software.
While enabling contact centers to optimize agent performance, enhance customer experiences, and streamline routing of calls and similar demands, cloud-based contact center solutions help eliminate costs related to physical telephony systems, servers, storage hardware, and technical staff. The cloud-based deployment model is expected to replace the on-premises-based deployment model in the short-term.
The intensely competitive market scenario has encouraged SMEs to invest in contact center solutions to achieve high business efficiency
Being constrained by limited budgets, small IT infrastructure, and staff, SMEs look for flexible, scalable, and cost-effective solutions. Hence, SMEs increasingly adopt cloud-based Contact Center Software solutions to optimize and automate customer communications and outreach.
Contact Center Software in the retail and consumer goods industry has a specific importance in the overall business operations and is expected to deliver a higher RoI
Contact center solutions are one-stop solutions that help retail and consumer goods businesses in building customer-centric market strategies and making faster decisions based on customer preferences, past buying behaviors, and real-time interactions. These solutions assist companies in making significant enhancements in business operations. Using the contact center solutions, companies can easily analyze the historical interest of customers and purchase patterns to deliver the best possible recommendations and gain maximum profits.
North America to dominate the Contact Center Software market in 2022
The two major countries contributing towards region's growth: the US and Canada are expected to boost the adoption of contact center software solution in the region. The vendors in this region are continuously focusing on developing and integrating contact center solutions for organizations that are willing to streamline their customer care processes.
For instance, in December 2021, 8X8, Inc. has announced that DMV Veterinary Centers, an emergency and specialty pet hospitals and services provider in Canada, have deployed their 8x8 Contact Center for Microsoft Teams which has helped DMV Veterinary Centers in meeting the growing demand for veterinary services and thus, effectively enhance the customer experience for pet owners.
The solution provides advanced omnichannel contact center capabilities to ensure quick resolution of customer issues across the four veterinary centers in Canada. The growth in call volumes, increase in demand for the remote management of contact center agent performance, heightened adoption of contact center solutions by government and public sector organizations, and rise in M&As and partnerships by contact center providers in the region drive the adoption of contact center solutions in North America.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights 4.1 Brief Overview of Contact Center Market4.2 Contact Center Market, by Component, 2022 Vs. 20274.3 Contact Center Market, by Solution, 2022 Vs. 20274.4 Contact Center Market, by Service, 2022 Vs. 20274.5 Contact Center Market, by Deployment Model, 2022 Vs. 20274.6 Contact Center Market, by Organization Size, 2022 Vs. 20274.7 Contact Center Market, by Industry, 2022 Vs. 20274.8 Contact Center Market - Investment Scenario
5 Market Overview and Industry Trends 5.1 Introduction5.2 Market Dynamics5.2.1 Drivers184.108.40.206 Rising Adoption of Advanced Contact Center Technologies220.127.116.11 Need for Handling Contact Center Attrition and Absenteeism18.104.22.168 Role of Social Media in Contact Center Operations22.214.171.124 Increasing Adoption of Virtual and Cloud-Based Contact Center Solutions During and Post-COVID-126.96.36.199 Continuous Transition to Cloud-Based Contact Centers188.8.131.52 Growing Demand for Personalized and Streamlined Customer Interactions5.2.2 Restraints184.108.40.206 Inadequate Network Bandwidth Minimizes the Adoption of Voip and Cloud-Based Telephony220.127.116.11 High Costs and Long-Term Contracts Associated with Pri Phone Services18.104.22.168 Impact of Ivr Frauds and Cyber-Attacks on Business Operations5.2.3 Opportunities22.214.171.124 Dynamic Customer Demands for Robust Self-Service Interactions126.96.36.199 Growing Demand for Analyzing Audio and Video Conversations188.8.131.52 Shifting Focus of Enterprises Toward Work-From-Home Culture5.2.4 Challenges184.108.40.206 Data Privacy and Security Aspects220.127.116.11 Barriers to Moving Contact Centers to Cloud Environments5.3 Ecosystem5.4 Supply Chain Analysis5.5 Key Stakeholders and Buying Criteria5.5.1 Key Stakeholders in the Buying Process5.5.2 Buying Criteria5.6 Technology Analysis5.6.1 Advanced Analytics18.104.22.168 Data Analytics22.214.171.124 Speech Analytics126.96.36.199 Sentiment Analytics5.6.2 Artificial Intelligence188.8.131.52 Machine Learning184.108.40.206 Natural Language Processing5.7 Pricing Analysis5.8 Patent Analysis5.9 Key Conferences and Events in 2022-20235.10 COVID-19 Driven Market Dynamics5.11 Case Study Analysis5.12 Porter's Five Forces Analysis5.13 Emerging Trends5.14 Tariff and Regulatory Landscape
6 Contact Center Software Market, by Component 6.1 Introduction6.1.1 Component: Market Drivers6.1.2 Component: COVID-19 Impact6.2 Solution6.2.1 Omnichannel Routing220.127.116.11 Digital Channels18.104.22.168 Interactive Voice Response22.214.171.124 Automatic Call Distributors126.96.36.199 Dialers188.8.131.52 Virtual Agents6.2.2 Workforce Engagement Management184.108.40.206 Workforce Optimization220.127.116.11 Call Recording and Quality Management6.2.3 Reporting and Analytics18.104.22.168 Historical and Customized Reports22.214.171.124 Speech Analytics126.96.36.199 Text Analytics6.2.4 Customer Engagement Management6.2.5 Other Solutions6.3 Services6.3.1 Consulting6.3.2 Implementation and Integration6.3.3 Training, Support, and Maintenance
7 Contact Center Software Market, by Deployment Model 7.1 Introduction7.1.1 Deployment Model: Market Drivers7.1.2 Deployment Model: COVID-19 Impact7.2 On-Premises7.3 Cloud
8 Contact Center Software Market, by Organization Size 8.1 Introduction8.1.1 Organization Size: Market8.1.2 Organization Size: COVID-19 Impact8.2 Large Enterprises8.3 Small and Medium-Sized Enterprises
9 Contact Center Software Market, by Industry 9.1 Introduction9.1.1 Industry: Market Drivers9.1.2 Industry: COVID-19 Impact9.2 Banking, Financial Services, and Insurance9.3 Telecommunications9.4 Information Technology and Information Technology-Enabled Services9.5 Government and Public Sector9.6 Retail and Consumer Goods9.7 Manufacturing9.8 Energy and Utilities9.9 Others
10 Contact Center Software Market, by Region
11 Competitive Landscape 11.1 Introduction11.2 Key Players' Strategies/Right to Win11.3 Market Share of Top Vendors11.4 Historical Revenue Analysis of Leading Players11.5 Competitive Scenario11.6 Company Evaluation Quadrant11.6.1 Stars11.6.2 Emerging Leaders11.6.3 Pervasive Players11.6.4 Participants11.7 Company Product Footprint Analysis11.8 Sme Evaluation Quadrant11.8.1 Progressive Companies11.8.2 Responsive Companies11.8.3 Dynamic Companies11.8.4 Starting Blocks11.8.5 Competitive Benchmarking11.9 Sme/Startup Product Footprint Analysis
12 Company Profiles 12.1 Introduction12.2 Key Companies12.2.1 Genesys12.2.2 Ibm12.2.3 Aws12.2.4 Five912.2.5 Twilio12.2.6 Mitel12.2.7 Nice12.2.8 Cisco12.2.9 Bt12.2.10 Verizon12.2.11 Avaya12.2.12 Vonage12.2.13 8X812.2.14 Atos12.2.15 Talkdesk12.2.16 Alcatel-Lucent Enterprise12.2.17 Sinch12.2.18 Oracle12.2.19 Ringcentral12.2.20 Lifesize12.2.21 Content Guru12.2.22 Aspect Software12.2.23 Enghouse Interactive12.2.24 3Clogic12.2.25 Ameyo12.2.26 Intrado12.2.27 At&T12.2.28 Nec12.2.29 Zte12.3 Startup/Sme Profiles12.3.1 Vocalcom12.3.2 Evolve Ip12.3.3 Ujet12.3.4 Amtelco12.3.5 Avoxi12.3.6 Vcc Live12.3.7 Glia12.3.8 Bright Pattern12.3.9 Computertalk12.3.10 C-Zentrix
13 Adjacent Market 13.1 Introduction13.1.1 Related Market13.2 Cloud-Based Contact Center Market13.2.1 Introduction13.2.2 Solutions188.8.131.52 Omnichannel Routing184.108.40.206 Workforce Engagement Management220.127.116.11 Reporting and Analytics18.104.22.168 Customer Engagement Management22.214.171.124 Other Solutions13.2.3 Services
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