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Contact Centre Software Global Market Report 2024 To 2033 | Cisco Systems Inc., Oracle Corporation., SAP SE,ZTE Corporation,Nippon Electric Company Limited
Contact Centre Software Market Share
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According to The Business Research Company's, The contact centre software market size has grown rapidly in recent years. It will grow from $37.19 billion in 2023 to $44.31 billion in 2024 at a compound annual growth rate (CAGR) of 19.2%. The growth in the historic period can be attributed to customer experience focus, scalability for growing businesses, real-time communication, compliance with data security, remote work enablement..
The contact centre software market size is expected to see exponential growth in the next few years. It will grow to $94.08 billion in 2028 at a compound annual growth rate (CAGR) of 20.7%. The growth in the forecast period can be attributed to predictive analytics for customer insights, self-service and knowledge bases, continuous improvement through feedback, remote monitoring and coaching.. Major trends in the forecast period include omnichannel communication, shift to cloud-based solutions, automation for routine tasks, agent assistive technologies, analytics and reporting enhancements, personalization through data utilization..
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Market Drivers and Trends:
The rapid growth in the adoption of the cloud-based contact center is significantly contributing to the growth of the contact center software market. The cloud-based contact center is hosted on an internet server through which all inbound and outbound customer communications are handled. The growing adoption of the cloud-based contact center as they provide more scalability and flexibility than traditional contact centers is promoting the growth of the contact center software market. For instance, in April 2021, according to a survey of State of the Contact Center Report 2021, cloud-based contact centers have become the majority, with 75% of contact centers now operating in the cloud (44% fully, 31% hybrid). Therefore, the rapid growth in the adoption of the cloud-based contact center is driving the contact center software market growth.
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
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Major Key Players of the Market:
Cisco Systems Inc., Oracle Corporation., SAP SE,ZTE Corporation,Nippon Electric Company Limited, Genesys Telecommunications Laboratories Inc., Mitel Networks Corporation., Talkdesk Inc., Drishti soft Solutions Pvt Ltd.,8x8 Inc., Aspect Software Inc.,Siemens Enterprise Communications Inc., Five9 Inc., Vocalcom SA,Enghouse Systems Limited, NICE Systems Ltd., Cisco Systems Inc.,Genesys Telecommunications Laboratories Inc., Genpact Ltd., RingCentral Inc., Salesforce com Inc., Talkdesk Inc., Twilio Inc., Zendesk Inc., Alcatel-Lucent Enterprise, Connect First Inc., NEC Corporation, Noble Systems Corporation, Serenova LLC., ShoreTel Inc.
Contact Centre Software Market 2024 Key Insights:
• The contact centre software market size is expected to see exponential growth in the next few years. It will grow to $94.08 billion in 2028 at a compound annual growth rate (CAGR) of 20.7%.
• Surging Demand For Cloud-Based Contact Centers Fuels Contact Center Software Market Growth
• Cloud Integration Drives Innovation In Contact Center Software Market
• North America was the largest region in the contact center software market in 2023
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