The global contact center software market size is expected to reach USD 72.3 billion by 2027, registering a CAGR of 19.7% over the forecast period, according to a new report by Grand View Research, Inc. The increasing consumer base and high adoption rate of cloud-based services, social media, and mobile analytics among various industry sectors is projected to boost market growth. Also, the demand for improved omnichannel experiences and technological advancements in communication services are expected to drive market growth.
Factors
such as increasing advancements in artificial intelligence (AI) and its
application in business analytics are expected to accelerate market growth over
the forecast period. Rapid technological advancements have resulted in
introduction of the Business Process Automation, thereby, reducing the workload
of customer care representatives. The availability of interactive voice
response (IVR) and automatic call distribution (ACD) software has further
resulted in an increase in productivity of customer-centric organizations.
The
increased adoption of cloud-based contact center services has empowered
organizations in reinforcing the security of customers’ confidential
information through web security and centralized database. Additionally,
cloud-based contact center services provide multiple customer point of contact,
which allow access to the necessary data from anywhere and at any time across
the globe. Cloud-based contact center services easily integrate with AI,
machine learning, omnichannel, and various analytical tools, subsequently
opening up ways for an organization to advance technologically.
With
the competition intensifying over the years, it has become crucial for
organizations to maintain stable and consistent relationships with their
customers and ensure customer loyalty. Various companies are extensively
adopting contact center software in order to improve customer satisfaction levels
and their experience over the inquiry call. With the help of contact center
software, customer care executives are finding it easier to build a deeper
relationship with customers, which helps provide long term value for the
business.
Full Research Report On Contact Center Software Market Visit Here:
https://www.grandviewresearch.com/industry-analysis/contact-center-software-market
Further key
findings from the report suggest:
- The contact center software
market is expected to witness remarkable growth over the forecast period,
owing to the significant demand for cloud-based technology and need for
enhanced levels of customer satisfaction
- The customer collaboration
segment is projected to witness the highest CAGR over the forecast period,
due to the growing use of the solution for engaging customers through
social media platforms
- The Interactive Voice
Response (IVR) software segment is expected to hold the largest market
share in 2027, owing to features such as reduced amount of call drops and
better customer satisfaction levels
- Technical advancements in
communication and collaboration application result in an increased demand
for training and consulting services, as professionals and customers are
required to be trained to understand and get knowledge about new
applications
- The hosted deployment
segment is expected to witness increased demand over the forecast period
on account of benefits such as ease of deployment, improved accessibility
anywhere anytime, and simplicity in integration with other systems
- Numerous large enterprises
have adopted contact center solutions to efficiently manage the vast
database of customers; thereby driving the demand for these solutions in
large enterprises over the forecast period
- The demand for contact
center software and services in the retail segment is driven by the rising
need among organizations to ensure satisfaction of customers and overcome
challenges involved in customer retention processes
- The Asia Pacific regional
market is projected to witness considerable growth over the forecast
period, owing to the rapid digitization and industrialization initiatives
undertaken by the government in this region
- The major players operating
in the market include Avaya, Inc.; SAP SE; Enghouse Interactive; Five9,
Inc.; Mitel Corporation; Alcatel Lucent Enterprise; Cisco Systems; and
Unify, Inc.
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Grand View Research has segmented
the global contact center software market based on solution, service,
deployment, enterprise size, end use, and region:
Contact Center
Software Solution Outlook (Revenue, USD Million, 2016 - 2027)
- Automatic Call Distribution
(ACD)
- Call Recording
- Computer Telephony
Integration (CTI)
- Customer Collaboration
- Dialer
- Interactive Voice Responses
(IVR)
- Reporting & Analytics
- Workforce Optimization
- Others
Contact Center
Software Service Outlook (Revenue, USD Million, 2016 - 2027)
- Integration & Deployment
- Support & Maintenance
- Training & Consulting
- Managed Services
Contact Center
Software Deployment Outlook (Revenue, USD Million, 2016 - 2027)
- Hosted
- On-premise
Contact Center
Software Enterprise Size Outlook (Revenue, USD Million, 2016 - 2027)
- Large Enterprise
- Small & Medium
Enterprise
Contact Center Software
End-use Outlook (Revenue, USD Million, 2016 - 2027)
- Banking, Financial Services,
and Insurance (BFSI)
- Consumer Goods & Retail
- Government
- Healthcare
- IT & Telecom
- Traveling & Hospitality
- Others
Contact Center
Software Regional Outlook (Revenue, USD Million, 2016 - 2027)
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- Spain
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- Middle East & Africa
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company, registered
in the State of California and headquartered in San Francisco. The company
provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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