Contact Center Software Market Size By Component (Software [Automatic Call Distribution {ACD}, Dialer, Call Recording, Computer Telephony Integration {CTI}, Workforce Optimization, Customer Collaboration, Reporting & Analytics, Interactive Voice Response {IVR}, Intelligent Virtual Assistant {IVA}], Service [Integration and Deployment, Training and Consulting, Support and Maintenance, Managed Service]), By Deployment Model (On-Premise, Cloud), By Application (BFSI, Consumer Goods & Retail, Government, Healthcare, IT & Telecom, Travel and Hospitality), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2018 - 2024

Published Date: Oct 2018  |  Report ID: GMI2972  |  Authors: Ankita Bhutani, Preeti Wadhwani

Report Format: PDF   |   Pages: 220   |   Base Year: 2017




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Contact Center Software Market size surpassed USD 14 billion in 2017 and is poised to grow at a CAGR of over 15% between 2018 to 2024. The market growth is due to rising demand for coordinating services across various channels including telephone, email, chat, web, fax, and social media.
 

Providing such omnichannel experience ensures that each customer’s interaction reaches the associated resource at the required time providing a seamless and consistent customer experience. The rising investment made by companies in customer service initiatives & digital marketing platforms for handling customer relations efficiently has also contributed to the market demand.
 

Contact Center Software Market
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Also, the rapid adoption of advanced technologies including AI and IoT has a positive impact on the contact center software market revenue. These technologies enable enterprises to deliver advanced services with improved customer engagement by providing the customers with new information integrated into their existing infrastructure. They change the way businesses conduct their operations by reducing customers’ waiting time and delivering a proactive customer support.
 

Contact Center Software Market Report Coverage
Report Coverage Details
Base Year: 2017 Market Size in 2017: 14 Billion (USD)
Historical Data for: 2013 to 2017 Forecast Period: 2018 to 2024
Forecast Period 2018 to 2024 CAGR: 15% 2024 Value Projection: 40 Billion (USD)
Pages: 220 Tables, Charts & Figures: 397
Geographies covered (22): U.S., Canada, UK, Germany, France, Italy, Spain, Netherlands, China, Japan, Australia and New Zealand , South Korea, India, Indonesia, Philippines, Brazil, Mexico, Argentina, Chile, South Africa, UAE, Saudi Arabia
Segments covered: Component, Deployment Model, Application and Region
Companies covered (23): Avaya, Alcatel-Lucent Enterprise, Ameyo (Drishti-Soft), Aspect Software, BT, Enghouse Interactive, Fenero, Five, Genesys, Huawei Technologies, IBM, Mitel, NEC, Nice, Nixxis, Oracle, Ring Central, SAP, Solgari, Top Down Systems, Unify, Verizon, Vocalcom
Growth Drivers:
  • Rising demand for the automation of contact center solutions
  • Emergence of oMillion (USD)ichannel communication
  • Increasing adoption of social media by customers
  • Advancement in latest technologies including IoT and AI
  • Growing adoption of cloud-based contact center solutions
Pitfalls & Challenges:
  • High initial investment and complex integrations
  • Inefficiency to achieve low first call resolution and improved average speed of answer

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Market by Component

The software segment held the highest market share of over 70% in 2017. Interactive Voice Response (IVR) dominates the software sector as it assists in quick resolution of customer queries by providing them with pre-recorded responses for frequently asked questions or routing the customers to the responsible representative or department for complex queries. Various sectors including BFSI, hospitality, retail, and healthcare are deploying IVR software for enterprise websites for easy and continuous interaction with customers.
 

Furthermore, the cloud based IVR software is adopted by various organizations from customer call volume sales from marketing to support & service. These software programs provide a healthy analytical insight by tracking customer timeframe, call volume, and origin, assisting the employees in the scheduling process thereby cutting down on bad customer response and lost business.
 

Italy Contact Center Software Market By Service

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The integration and deployment services are anticipated to hold significant share in the contact center software market through 2024. These services provide integration capabilities with legacy or custom CRM systems at workplaces, ensuring smooth and fast deployment of new solutions in the infrastructure. These services assist businesses in offering higher productivity, agility, and security, driving the market size.
 

Market by Deployment Model

The on-premise deployment model accounts for a large chunk of the market as majority of the contact center operations depends on the traditional on-premise systems. The on-premise model gives the owner the leverage to decide how and when the software upgrades occur. It also provides the safety and security of confidential business data with the information being stored in-house.
 

However, these contact center systems are established for location-specific deployments, which consist of the hardware and software architectures developed decades ago due to which the integration process across multiple sites is a complex and costly task. Hence, organizations are now shifting toward the cloud deployment model, providing easy customization with reduced operational costs.
 

Market by Application

Japan Contact Center Software Market By Application

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The BFSI application segment dominated the global contact center software market with a share of around 30% in 2017. The highly mobile friendly & web dominant environment has taken the consumer banking processes to a new level.
 

In the U.S., the mobile payments rose from around USD 11.9 billion in 2012 to USD 90 billion by 2017. Customers are adopting mobile devices and social media platforms for managing their banking processes, augmenting the usage of the market. The adoption of cloud-based contact center software in the banking sector also enables companies to deliver better customer service.
 

For instance, in July 2018, Aman Bank, a leading bank in Libya adopted the Oracle service cloud for enhancing its customer engagement and service capabilities. This enables the bank to automate its contact center processes on an omnichannel and centralized platform, effectively engaging with clients using their preferred communication platform.
 

Market by Region

North America contact center software market size is projected to register a steady growth of over 13% during the forecast period. The cloud adoption rate of the North American contact center industry increased from around 5% in 2012 to approximately 15% in 2016 with a positive impact on market demand. Companies operating in this region are shifting from product-based to customer-centric approach, creating a substantial demand for the market.
 

Europe held over 21% market share in 2017. Due to stringent government regulations, such as GDPR, the public sector and enterprises are implementing the contact center software solutions to carry out online tasks associated with citizens queries, feedbacks, and complaints. This ensures the security of the customer’s data along with the provision of improved services.
 

Competitive Market Share

The companies functioning in the global contact center software industry are concentrating on new product development delivering enhanced services and gaining a higher customer satisfaction.
 

For instance, in July 2018, Google launched the Google Cloud Contact Center AI to resolve uncomplicated calls with the help of AI and only transferring the critical customer queries to human agents. This has assisted in reducing the hold time and delivering quicker services producing huge outcomes for the company.
 

Some of the key vendors operating in the market are 8x8, Alcatel-Lucent, Ameyo, Avaya, BT, Cisco, Five9, Genesys, Mitel, Oracle, Nice, Top Down Systems, Fenero, SAP, Unify, Vocalcom, West Corporation, Zendesk, ZTE, and Aspect Software.
 

The market research report on contact center software includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2013 to 2024, for the following segments:

By Component

  • Software
    • Automatic Call Distribution (ACD)
    • Dialer
    • Call Recording
    • Computer Telephony Integration (CTI)
    • Workforce Optimization
    • Customer Collaboration
    • Reporting & Analytics
    • Interactive Voice Response (IVR)
    • Intelligent Virtual Assistant
  • Service
    • Integration and Deployment
    • Training and Consulting
    • Support and Maintenance
    • Managed

By Deployment Model

  • On-Premise
  • Cloud

By Application

  • BFSI
  • Consumer Goods & Retail
  • Healthcare
  • Government
  • IT & Telecom
  • Travel and Hospitality

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Netherlands
  • APAC
    • China
    • Japan
    • Australia
    • South Korea
    • India
    • Indonesia
    • Philippines
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Chile
  • MEA
    • UAE
    • Saudi Arabia
    • South Africa

 

Frequently Asked Questions (FAQ) :

The market size of contact center software surpassed USD 14 billion in 2017.
The industry share of contact center software is poised to grow at a CAGR of over 15% between 2018 to 2024.
With China coming up with a chatbot platform WeChat application and other countries such as Japan and South Korea providing advanced services through the solution, stakeholders are contemplating investments in APAC.
IT & telecom sector will gain prominence on account of the usage of contact center software to solve issues pertaining to network connectivity.
Faster and easy deployment & implementation, enhanced flexibility and scalability, increased security, and real-time data visibility, may boost the deployment of cloud model.
Some of the key vendors operating in the industry are 8x8, Alcatel-Lucent, Ameyo, Avaya, BT, Cisco, Five9, Genesys, Mitel, Oracle, Nice, Top Down Systems, Fenero, SAP, Unify, Vocalcom, West Corporation, Zendesk, ZTE, and Aspect Software.

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Premium Report Details

  • Published Date: Oct 2018
  • Pages: 220
  • Tables: 366
  • Charts / Figures: 31
  • Companies covered: 23
  • Countries covered: 22

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