Press release
Contact Center Software Market : Top Players – 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
Contact Center Software Market
With a myriad range of applications in customer service, contact center software market is poised for noteworthy growth over the coming years. In terms of revenue, global contact center software market share is estimated to surpass USD 40 billion by 2024. Currently, businesses across diverse industries are embracing the software to increase sales, enhance customer support services, and achieve higher business efficiency.
Contact center software provides communication tools and expertise required to carry out vital processes of a contact center. Enterprises are endeavoring to reduce personnel workload burden by integrating advanced technologies such as contact center software, which not only helps to enhance user experience but also improve business sales. Contact center software market growth is driven by augmenting demand from various industries such as consumer goods and retail, BFSI, IT & Telecom, healthcare, and others. Moreover, as businesses are increasingly resorting to social media as a communication channel, contact center software market trends are slated to further intensify in the coming years.
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What’s driving cloud based contact center software market?
Cloud-based deployment model is anticipated to capture the highest CAGR of 22% over the forecast period. In addition to offering faster and easy implementation, cloud-based model also offer other additional advantages such as enhanced scalability & flexibility, real-time data visibility, customization capabilities, greater security, and others. On-premise models are being progressively substituted with cloud-based models as they are aligned with the advantages of lower operating costs, higher flexibility, elimination of upgradation expenses, improved ROI, and reduction of support costs.
How is IT & Telecom sector influencing the application landscape of contact center software market?
The IT & telecom industry is demonstrating massive interest in the deployment of this software and application in the sector is likely to observe the highest CAGR of more than 17% over 2018-2024. Telecom companies, in particular, are utilizing this software to register customer complaints, deliver value-added services, send follow-up reminders for payments, and maintain proactive engagement with customers.
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The travel and hospitality industry is another major vertical showcasing accelerated adoption rate of contact center software for delivering automated customer service. The segment is expected to expand at a CAGR of 16% over 2018-2024.
How is U.S. standing as a prominent revenue pocket for contact center software market?
U.S. stands as one of the major revenue pockets for contact center software market. In fact, in 2017, U.S. procured almost 84% of North America contact center software market share. An established IT & telecom industry is one of the chief factors propelling the regional market trends. In addition, the country houses major technology giants who are investing substantially in R&D activities to improve customer experience. High adoption rate of other advanced technologies such as analytics, cloud, and social media is favoring U.S. contact center software industry size.
Elaborating further on the regional landscape, Asia Pacific contact center software market is anticipated to exhibit a relatively higher CAGR of 20% over the forecast period. The emergence of various SMEs in the region is a key factor contributing to the growth of the market. Besides, the rising government efforts towards enabling industrial automation and the expanding BFSI, consumer goods & retail, healthcare, and IT & Telecom industries are some of the major factors fueling APAC market trends.
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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