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 estimated at over USD 14 billion in 2017 and is predicted to register over 15% growth between 2018 to 2024.
 

APAC Contact Center Software Market Share, By Component, 2017

Get more details on this report - Request Free Sample PDF
 

The contact center software market demand is attributed to the rising demand for unified communication platforms that provide communication through different modes such as video, voice, web, email, fax, and social media. Contact center software enables enterprises to co-ordinate services across different communication channels to improve customer experience. The increasing demand for technology across various industries, such as BFSI, healthcare, IT & telecom, travel & hospitality, and government organizations, is also positively impacting market growth. The integration of Artificial Intelligence (AI) technology in these solutions allows enterprises to automate their routine interactions and helps them to resolve their issues. It also helps in predicting new market trends using machine learning algorithms and understanding customer expectations to increase customer retention.
 

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

Request 15% Free Customization on this Report
 

By Component

The service segment is expected to grow at a CAGR of over 19% during the forecast period due to the rapidly changing network requirements of enterprise customers. Contact center services help customers to ensure that their products work efficiently, remain available, and take advantage of the application software and up-to-date systems. They also assist consumers in protecting their investments, reducing downtime, and managing risks for systems that run on critical applications. These services meet the specific requirements of their customers by providing preventive, responsive, and consultative support. These services include integration & deployment service that provides integration capabilities with traditional CRM systems at workplaces to ensure efficient and rapid deployment of new solutions in the infrastructure. This service also ensures high productivity, agility, and security for businesses.
 

UK Contact Center Software Industry Share, By Service, 2024
UK Contact Center Software Industry Share, By Service, 2024

Get more details on this report - Request Free Sample PDF
 

By Deployment Model

The cloud deployment model in contact center software market is expected to hold a growth rate of over 22% over the forecast period due to the adoption of cloud technology across enterprises. Cloud deployment provides easy and faster deployment & implementation, greater security, improved flexibility & scalability, ease of managing remote workforce, real-time data visibility, and customization capabilities over the legacy on-premise deployment model. These advantages are enabling enterprises to shift toward the cloud deployment model. Cloud contact center solutions reduce support costs and eliminate the expenditure required for upgrading to ensure smooth business functioning with rapid growth in return on investment. Access to the latest product capabilities is allowing businesses to focus on delivering highly personalized services, thereby meeting customers’ demand.
 

By Application

The IT & telecom sector is expected to grow at a CAGR of 17% over the forecast period due to rising mobile and broadband penetration. telecom companies are offering multiple calling and internet usage to acquire more customers. The increase in customers across the telecom sector is resulting in network connectivity issues in multiple communication channels. Contact center software assists in solving these network connectivity issues through multiple communication channels. It provides the expertise and communication tools required to serve the customers by registering complaints, answering their queries, providing payment reminders, and delivering additional services to connect with their customers proactively. Contact center software also increases call handling efficiencies, reduces call avoidance rate, and enhances first call resolution rate, leading to improved customer satisfaction and lower service cost.
 

China Contact Center Software Market Revenue, By Application, 2017 & 2024 (USD Million)
China Contact Center Software Market Revenue, By Application, 2017 & 2024 (USD Million)

Get more details on this report - Request Free Sample PDF
 

By Region

Asia Pacific contact center software market is expected to hold a CAGR of over 20% due to the growing digital transformation across enterprises. The companies operating in this region have adopted contact center software solutions to bring about transformations in their daily working environment. China helped in revolutionizing the adoption of contact center software by introducing a chatbot platform in WeChat application. In Japan, prompt customer service is significant to industries and consumers, enhancing the adoption of contact center software, providing advanced services, and customer loyalty programs. Government authorities in the region are also keen on obtaining core AI technologies and are entering into partnerships with private corporations to ramp up their efforts in the field of AI. In May 2018, South Korea’s government announced its plan to invest USD 2 billion by 2022 to reinforce its AI R&D competence. This program comprises the formation of six new AI research institutions in the country.

 

Competitive Market Share

Companies operating in the market are focusing on the integration of AI and machine learning technologies in their solutions to enhance their customer experience. For instance, in August 2017, IBM Corporation announced the commencement of a new machine learning hub in Bengaluru, India for organizations to offer hands-on training on machine learning technology to build and deploy a new analytic model for the next-generation intelligent applications. Some of the key vendors operating in the contact center software market are 8x8, Ameyo, Avaya, BT, Alcatel-Lucent, Cisco, Five9, Mitel, Oracle, Genesys, Nice, Fenero, SAP, Unify, Top Down Systems, Vocalcom, Zendesk, West Corporation, ZTE, and Aspect Software.
 

Industry Background

The growing demand for delivering reliable services by businesses to their customers is resulting in the adoption of contact center software. The enterprises are using contact center software for meeting dynamic customer requirements, delivering improved security, increasing communication, and better customer experience. The emergence of unified communication services with integrated channels is also supporting the market growth. The Companies operating in the market are investing in research & development activities to implement new technologies and enhance user experience.


Buy NowImmediate delivery available

Single User: $5,150 Access to only 1 person; cannot be shared; cannot be printed
Multi User: $7,150 Access for 2 to 5 users only within same department of one company
Enterprise User: $9,150 Access to a company wide audience; includes subsidiary companies or other companies within a group of companies

Need a Discount? Get in touch with us for special pricing

Request Discount

Connect with our sales team

Why Global Market Insights, Inc.?

Reliability & accuracy

  • GMI is unparalleled when to comes to the quality of research and information provided to clients. Our unique methodology is designed to ensure a minimum of 90% accuracy to give our clients excellent value on their investment.

Quality & trust


  • BBB Rating - Click to Verify

Customer service

  • Over 200 experts are available across various time-zones, ready to serve clients for their research needs. Our industry experts help clients to design reports customized to their needs.

Security & compliance

We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies. More info X