Contact Center Software Market Size May Set A New Epic Growth Story | Mitel Corporation, NEC Corporation, Nice Systems Ltd., Oracle Corporation, SAP SE, Genesys, 8*8 Contact Center

Consumers play a significant role across various business sectors. Hence, to maintain customers as well as to cater to rise in demand for consumers, an efficient call center software is essential. Contact center software helps customers to reach businesses for their support needs. It enables companies to manage a high volume of outbound and inbound customer communications across a range of channels. The report combines in-depth quantitative analysis with exhaustive qualitative analysis, ranging for It includes call center solutions, which focus on handling and managing incoming calls based on number and related database of instructions handling. Contact centers and associated call centers are typically part of an overall customer relationship management (CRM) strategy and processes of a company. For every business, it offers various benefits such as enhanced customer service management, improved reporting features, and enhanced productivity and efficiency.

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Governmental organizations are boosting their maintenance budgets for system infrastructure while simultaneously funding initiatives for project development, modernization, and enhancement. As a result of the investments' success, ICT vendors now annually set aside funding for the growth of the online market. Global ICT exports are anticipated to increase 3.9% on average year from US$ 784.3 billion in 2021 to US$ 955.19 billion in 2030. Global supply has increased by 9.5% yearly since 2009. In terms of global ICT exports in 2021, Ireland came in first place with US$ 169. 32 billion. The rankings placed China at number 4, the United States at number 2, and India at number 3. Since 2009, Brunei has increased by 228.2% year over year, while Sierra Leone has decreased by 61.7% year over year.

By 2026, European ICT Revenue is likely to increase by 1.5% annually, from US$ 1,802,413 Million in 2021 to US$ 1,933,429 Million. The European market has increased by 3.1% annually since 2016. In terms of ICT Revenue in Europe in 2021, Germany came in first place with US$ 339,074 million. Positions 2, 3, and 4 in this ranking were held by the United Kingdom, France, and Ireland, respectively. Since 2016, Malta has increased by 16.5% year over year, while Italy has decreased by 0.2%.

Surge in use of contact center software among organizations to enhance customer experience through multiple channels including voice, video, mobile, web, and social media is the key factor that drives market growth. In addition, rise in omnichannel communication approach, rapid advancements in field of customer relationship management, and surge in need for personalized services fuel the global contact center software market. However, difficulty while integrating with legacy systems and cost issues in case of on-premise call center software hampers the market growth to some extent. On the other hand, emergence of advanced technologies such as artificial intelligence, predictive analysis, cloud computing, and machine learning are expected to provide lucrative opportunities for the market growth during forecast period. In addition, surge in use of social media by customers is anticipated to be opportunistic for the market growth during the forecast period.

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The contact center software market is segmented on the basis of component, deployment, enterprise size, solution type, industry vertical, and region. On the basis of component, it is categorized into solution and services. On the basis of deployment type, it is classified into on-premise and cloud. As per enterprise size, it is classified into large enterprises and small & medium enterprises. On the basis of industry vertical, it is categorized into IT and telecommunication, BFSI, healthcare, consumer goods & retail, media & entertainment, travel & hospitality, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

KEY BENEFITS FOR STAKEHOLDERS
- The study provides an in-depth analysis of the contact center software market along with current trends and future estimations to elucidate imminent investment pockets.
- Information about key drivers, restrains, and opportunities and their impact analysis on the market size is provided in the report.
- Porter's five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
- The quantitative analysis of contact center software market for the period 2020-2027 is provided to determine the market potential.

KEY MARKET PLAYERS
- Alcatel-Lucent Enterprise
- Avaya, Inc.
- Cisco Systems, Inc.
- Huawei Technologies Co., Ltd.
- Microsoft Corporation
- Mitel Corporation
- NEC Corporation
- Nice Systems Ltd.
- Oracle Corporation
- SAP SE
- Genesys
- 8*8 Contact Center

KEY MARKET SEGMENTS
BY COMPONENT
- Software
- Services

BY DEPLOYMENT TYPE
- On-premise
- Cloud

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BY ENTERPRISE SIZE

- Large Enterprises
- Small and Medium Enterprises

BY SOFTWARE TYPE

- Intelligent Call Routing
- IVR
- Workforce Management
- Reporting and Analytics
- Security Functions
- Intelligent Virtual Assistant
- Others

BY INDUSTRY VERTICAL

- BFSI
- Healthcare
- Retail and E-Commerce
- Government and Education
- IT and Telecom
- Travel and hospitality
- Others

BY REGION
- North America
o U.S.
o Canada

- Europe
o UK
o Germany
o France
o Spain
o Italy
o Rest of Europe

- Asia-Pacific
o China
o India
o Japan
o Australia
o Rest of Asia-Pacific

- LAMEA
o Latin America
o Middle East
o Africa

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