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Contact Center Software Market to Witness Huge Growth by Key Players: NICE, Genesys, Cisco, Avaya, Five9, Talkdesk, Vonage and more.
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The global contact center software market size would grow from USD 24.1 billion in 2020 to USD 75.5 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 20.9% during the forecast period.
Top Key Players Profiled in the Contact Center Software Market:
• NICE (Israel)
• Genesys (US)
• Cisco (US)
• Avaya (US)
• Five9 (US)
• Talkdesk (US)
• Vonage (US)
• 8x8 (US)
• AWS (US)
• Atos (France)
• Alcatel-Lucolent Enterprise (France)
• SAP (Sweden)
• Oracle (US)
• RingCentral (US)
• IBM (US)
• Lifesize (US)
• Content Guru (UK)
• Aspect Software (US)
• Enghouse Interactive (US)
• 3CLogic (US)
• Ameyo (India)
• Verizon (US)
• Intrado (US)
• AT&T (US)
• BT (UK)
• Twilio (US)
• Vocalcom (France)
• NEC (Japan)
• Evolve IP (US)
• Mitel (Canada)
• ZTE (China)
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"The services segment is expected to grow at a higher CAGR during the forecast period"
Services are an important part of any solution’s deployment life cycle. Therefore, various vendors offer services associated with contact center solutions to help companies effectively implement their contact center strategies. Contact center services involve consulting; implementation and integration; and training, support, and maintenance.
"BFSI industry vertical to hold the highest market share in 2020"
The need to attract talent, gain holistic visibility into entire contact center processes, improve timely responses to customer complaints and queries in adherence to country-wide regulations, and protect businesses from fraudulent activities is a top priority in the BFSI industry. Contact center solutions enable BFSI companies to monitor, manage, and assist remote agents selling and earning incentives based on the sale of insurance and banking products, such as credit cards and loans.
"APAC to grow at the highest CAGR during the forecast period"
APAC is expected to experience extensive growth opportunities in the next few years, owing to the rising adoption of advanced technologies such as cloud, and AI- and NLP-enabled bots. According to the respondents of 2018 SMB Customer Service Trend Report by Genesys, 78.5% of APAC SMEs applied AI to engagement channels, and over 61.1% of APAC SMEs consider TCO for sourcing new technologies to transform their customer engagement roadmap.
Breakdown of primary participants’ profile:
• By Company: Tier 1–37%, Tier 2–25%, and Tier 3–38%
• By Designation: C-Level Executives–22%, Director Level–33%, and Others–45%
• By Region: North America–42%, Europe–25%, APAC–18%, and RoW– 15%
Reason to access this report:
The report would help the market leaders/new entrants in this market with the information on the closest approximations of the revenue numbers for the overall contact center software market and the sub segments. This report would help stakeholders understand the competitive landscape and gain insights to better position their businesses and plan suitable go-to-market strategies.
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