Why the Contact Center Software Market is Set to Explode? Top Companies: Alcatel-Lucent Enterprise, Avaya, Inc., Microsoft Corporation, Cisco Systems, NEC Corporation, SAP SE.

Contact Center Software Market Size, Share and Industry Analysis By Component (Solutions & Services), By Organization Size (Large & Small & Medium Enterprises (SMEs)), By Deployment (Cloud & On-Premises), By Vertical (Banking, Financial Services, and Insurance, IT and Telecom, Government, and others), and Regional Forecast, 2019-2026.

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The global contact center software market size is likely to gain momentum owing to the emergence of cloud-based services and increasing investment in technology across the globe. Fortune Business Insights, in its latest report, titled “Contact Center Software Market Size, Share and Industry Analysis By Component (Solutions & Services), By Organization Size (Large & Small & Medium Enterprises (SMEs)), By Deployment (Cloud & On-Premises), By Vertical (Banking, Financial Services, and Insurance, IT and Telecom, Government, and others), and Regional Forecast, 2019-2026.”, observes that the market size is projected to reach USD 48.010.0 Million by 2026, while exhibiting a staggering CAGR of 14.62% between 2019 and 2026. The report further mentions that the market was valued at USD 16,750.7 Million in 2018.

List of Companies Operating in the Market:
• Alcatel-Lucent Enterprise
• Avaya, Inc.
• Cisco Systems
• Enghouse Interactive, Inc.
• Five9, Inc.
• Genesys
• Microsoft Corporation
• NEC Corporation
• Mitel Corporation
• SAP SE
• Nice Systems Ltd
• Huawei Technologies Co., Ltd

What does the Report Include?

The market report includes a detailed assessment of the various market drivers and restraints, opportunities, and challenges that the market will face during the projected horizon. Furthermore, the report provides comprehensive research into the regional developments of the market, affecting the market growth during the forecast period. Moreover, the report includes information sourced from the advice of expert professionals from the industry by our research analyst using several research methodologies for the market. The competitive landscape offers further detailed insights into the strategies such as product launches, partnerships, merger and acquisition, and collaborations adopted by the companies to maintain market stronghold between 2019 and 2026.

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Drivers and Restraints:

Companies offering their Cloud-based Services amid COVID-19 to Augur Growth

Advancement in technology has propelled the company to adopt cloud-based services that provide effective services and increased flexibility along with seamless streamline integration. Additionally, increasing need for automation in several sectors such as banking, healthcare, entertainment, and hospitality, among others is driving the companies to adopt cloud-based services. Furthermore, the cloud-based platforms allow the companies to update the set surveys at real-time to keep a track on the reviews and act accordingly to maintain customer satisfaction. Increasing demand for cloud-based services, thereby, will contribute to the growth of the market during the forecast period.

With steady progression of the novel coronavirus, COVID-19 across the globe, several organizations are finding it difficult to run their operations. However, some Samaritans are taking up the initiative to help the companies by offering their cloud-based contact center software technology. One such company is VCC Live that announced its launch of novel initiative, Love to Help, in May 2020. As per the initiative, the company will provide its software technology to non-profit organizations that rely on telephonic method to support the public during the pandemic.

Regional Analysis:

Increasing Investment for Technology in North America to Spur Demand
Among the regions, North America is anticipated to remain dominant during the forecast period. The region registered market values of USD 5421.1 Million in 2018 and is projected to hold the highest global contact center software market revenue between 2019 and 2026. This is ascribable to factors such as increasing investment in technologies such as cloud, IoT, and VoIP, among others and presence of major players focused on research and development of the software system in the U.S.
The market in Asia-Pacific hit a revenue of USD 3412.6 Million in 2018 and is expected to gain momentum in the forthcoming years. This is attributable to factors such as high adoption of technologically advanced software services in the region. Furthermore, massive technological advancement in countries such as China and India will contribute to the growth of the market during the forecast period.

Report Link @ https://www.fortunebusinessinsights.com/industry-reports/contact-center-software-market-100840

Competitive Landscape:

Collaboration Strategies by the Companies to Aid Growth

According to Fortune Business Insights, the market comprises of several players striving to gain major market share and outshine their competitors during the projected horizon. They are doing so by adopting strategies such as product expansion activities, collaboration, and joint ventures, among others. Furthermore, the companies are striving to enhance maximum customer experience by innovating and developing the product to cater to the demand of the consumers.

Industrial Development:

May 2020: Stella Connect, a leading contact center software solutions provider, announced that it is entering into a strategic partnership with Qualtrics. According to the company, the collaboration will empower seamless workflow required to drive agent engagement with the customers to provide efficient performance and reliable customer experience.

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This release was published on openPR.