Title: CONTACT CENTER SOFTWARE MARKET SIZE, TRENDS & ANALYSIS – FORECASTS TO 2025 (1)
1GLOBAL MARKET ESTIMATES RESEARCH
CONSULTANTS Ankita Roy, Treesha Banerjee and
Liza Dsouza from Global Market Estimates throw
the spotlight on the growing Contact Center
Software Market Contact Center Software Market
Insights The global Contact Center Software
market is estimated to grow at a CAGR of close to
15.5 over the forecast period. Contact center
management software enables easy management of
agent and customer interactions, increase the
productivity of contact centers by accurately
forecasting workloads, monitoring agent
performance, and real-time reporting. Growing
technological advancements in Customer
Relationship Management (CRM), use of analytics
and artificial intelligence in business
operations are factors expected to drive growth
in the contact center software management
market. Companies are inclined towards developing
solutions that can perform routine tasks
automatically, reducing operational time. This
allows companies to focus on more important
activities such as decision making and
analytics. Contact center software finds
applications in sectors such as banking,
finance, healthcare, government, and media among
others. Multiple benefits of contact center
software such as competitive edge,
cost-effectiveness, operational efficiency and
improved customer relations are expected to
drive the market. However, companies may face
problems integrating this software into
traditional business management systems, which is
expected to have a potential negative impact on
the market up to some extent.
2GLOBAL MARKET ESTIMATES RESEARCH CONSULTANTS
Contact Center Software Market Vertical
Insights Based on Vertical, the contact center
software market is segmented into BFSI, Consumer
Goods Retail, Government, Healthcare, IT
Telecom, Travel Hospitality, and Media
Entertainment. Contact centers provide benefits
such as flexibility, enhanced customer
management, and improved operational
efficiency. The consumer goods and the retail
segment is estimated to demonstrate the highest
CAGR over the forecast period. Demand for
contact center software in this segment is driven
by the need for better client database
management and increased use of analytics in
retail management. Contact Center Software
Market Service Insights The contact center
software management market can be classified into
Integration Deployment, Support Maintenance,
Training Consulting, and Managed Services based
on service. The integration deployment segment
is expected to hold the major share in terms of
revenue over the forecast period. The demand for
contact center management software is growing due
to improved technological advancements,
innovation, and benefits of using digitized
techniques in business operations.
3GLOBAL MARKET ESTIMATES RESEARCH
CONSULTANTS The segment is further expected to
be driven by growing adoption of contact center
systems and integration of new systems with
existing conventional business management
systems. Demand for better customer experience,
need for better customer service with respect to
troubleshooting and resolving technical issues
is expected to further boost market
growth. Contact Center Software Market Solution
Insights Based on the solution, the contact
center software market is classified into
Customer Collaboration, Dialers, ACD ( Automatic
Call Distribution), IVR (Interactive Voice
Response), CTI (Computer Telephony Integration),
Workforce Optimization, Reporting, and
Analytics. The Interactive Voice Responsive
(IVR) segment is expected to hold the largest
revenue share over the forecast period owing to
growing demand for quick query resolution. The
IVR solution enables customers to solve their
issues related to products without the help of
customer care representatives. IVR is also being
used for marketing, feedback and payment
processing, further boosting growth in the
segment. Further, the customer collaboration
segment is estimated to record the highest CAGR,
owing to use of the service to establish
long-term relationships with their
customers. Contact Center Software Market
Deployment Type Insights The contact center
software market based on deployment type can be
segmented into On-Premises and Cloud.
Cloud-based solutions are hosted on the vendors
server and access is allowed only to authorized
individuals through a browser. Factors such as
improved security and affordability of internet
connections is anticipated to boost the demand
for cloud-based deployment segment over the
coming years. Contact Center Software Market
Organization Size Insights The Small and Medium
Enterprise segment is expected to grow at a
faster CAGR over the forecast period. Growing
popularity and accessibility to customer care
solutions across all business segments are
driving growth in the contact center software
market. Large enterprises have huge amounts of
data which requires efficient management locally
and internationally. Need for improved efficiency
and cost-effectiveness is thus expected to drive
the market growth.
4GLOBAL MARKET ESTIMATES RESEARCH
CONSULTANTS Contact Center Software Market
Regional Insights North America is expected to
hold the largest market share over the forecast
period. Highly developed technological
solutions, investment in research, focus on
technology adoption are some factors expected to
contribute to the market growth in the region.
The global rise in mobile analytics, mobiles,
and social media across various industries has
led to a need for better operations and business
process automation. The Asia Pacific region is
estimated to demonstrate the highest growth owing
to numerous emerging opportunities with respect
to process automation in healthcare, banking,
retail, e-commerce, and IT industry. Growing
number of small and medium businesses in the
region is also expected to boost the demand for
contact center software.
Contact Center Software Market End-Use
Landscape The end-use landscape entails a list of
current and prospective consumers prevailing
across the regions. This section provides
company addresses, contact details, products, and
regional presence of companies who are
purchasing or are likely to purchase contact
center software over the coming years. Some
leading consumers of this market are Walmart,
Apollo Hospital, and Bank of America among
others.
5- GLOBAL MARKET ESTIMATES RESEARCH CONSULTANTS
- Contact Center Software Market Vendor Landscape
- The report contains a chapter dedicated to
vendors operating in the market, covering raw
material manufactures, equipment developers,
manufacturers, and distributors. The report
provides these insights on a regional level.
This section of the report entails contact
details, experience, products manufactured/suppli
ed, and geographical presence of companies. - Contact Center Software Market Share Competitor
Analysis - Major companies operating in the contact center
software market are Genesys Telecommunications
Laboratories Inc., Enghouse Interactive, Huawei
Technologies Co., Ltd., Oracle Corporation,
Drishti Soft Solutions Pvt. Ltd, Cisco Systems,
SAP SE, Alcatel-Lucent Enterprise, Masergy
Communication Inc, Mitel Networks Corporation,
8x8, Amazon Web Services (AWS), Inc, Avaya Inc.
and Five9, Inc among others. - In March 2017, AWS launched Amazon Connect,
contact center software developed by Amazon. - In February 2017, Masergy Communications Inc.
launched its cloud contact center with predictive
analytics and salesforce capabilities. - The report segments the Contact Center Software
Market on the basis of By Vertical - BFSI
- Consumer Goods Retail
- Government
- Healthcare
- IT Telecom
6- GLOBAL MARKET ESTIMATES RESEARCH CONSULTANTS
- By Component
- Integration Deployment
- Support Maintenance
- Training Consulting
- Managed Services
- By Solution
- Customer Collaboration
- Dialers
- ACS
- IVR
- CTI
- Workforce Optimization
- Reporting, and Analytics
- By Deployment Type
7GLOBAL MARKET ESTIMATES RESEARCH
CONSULTANTS This article contains text from
the Contact Center Software Market Forecast to
2025 report prepared by Global Market
Estimates. For more information or to buy the
report, please visit https//www.globalmarketest
imates.com/contact-center-software-market/
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