Contact Center Software Market – Growth, Dynamics, Trends, and Forecasts (2021 – 2027)

Contact Center Software Market was valued at US$ 20.5 Bn. in 2020 and is expected to reach US$ 77.8 Bn. by 2027, at a CAGR of 21% during a forecast period.

Contact Center Software Market Overview:

Contact Center Software Market was valued at US$ 20.5 Bn. in 2020. Contact Centre software is a telephone system that allows businesses and customers to speak with one another. A contact centre software enables businesses to create and strengthen relationships with their customers and prospects by enabling them to communicate effectively across several channels such as audio, video, online, chat, mobile applications, and social media. By streamlining inbound and outbound operations, contact centre software assists enterprises in increasing overall productivity. It also provides enterprises with a variety of functions, such as call monitoring, analysis, and reporting from a centralized platform. Contact Center Software Market To know about the Research Methodology :- Request Free Sample Report The report has covered the market trends from 2016 to forecast the market through 2027. 2020 is considered a base year. Special attention is given to 2020 and effect of lockdown on the demand and supply, and also the impact of lockdown for next two years on the market. Some companies have done well in lockdown also and specific strategic analysis of those companies is done in the report.

COVID 19 Impact on Contact Center Software Market:

The current forecast for 2027 is higher than the pre-COVID-19 forecasts. The COVID-19 pandemic has little impact on the growth of the contact centre software market, which has increased in the face of unprecedented circumstances. Enterprises are increasingly need to break free from outdated infrastructure in order to build a more agile approach to customer engagement. The effectiveness of client involvement, on the other hand, has traditionally been judged by the precision and speed with which requests are addressed. The market's CAGR should have been 24.8 % based on pre-COVID-19 growth data. However, when optimistic and pessimistic growth scenarios are considered, the cumulative growth obtained from the impact of market dynamics (drivers, opportunities, restraints, and challenges), as well as inputs from industry experts and multiple companies associated with the ecosystem, the growth rate for the overall market estimation is 26.4 % in 2020. Contact Center Software Market

Contact Center Software Market Dynamics:

Rapid technological progress in the field of customer relationship management and the integration of machine learning and artificial intelligence with business processes are expected to drive market growth. In addition, companies are focusing on integrating stack technology into their processes because it enables agents to resolve customer issues and queries in a consistent manner across all communication channels. Therefore, companies can improve customer loyalty and operational performance. The emergence of omni-channel customer experiences for contact center software is expected to accelerate during the forecast period. The omni-channel contact center allows customers to seek help across every channel. In addition, it allows agents to easily move between channels so that they can effectively help customers. Buyers nowadays favor cloud-based systems because of benefits such as usage flexibility, elimination of installation time and costs, and lower maintenance costs. Contact Center Software MarketKey trends for Contact Center Software Market: 1. Flexibility Rules: The most important trend for contact centres in 2021 will be flexibility. This is something that contact centre administrators discovered in 2020, when a global pandemic forced the closure of contact centres all across the world. Employees and agents were required to work from home. Those contact centres that had already invested in cloud contact centre solutions were in the greatest position to make that transition. Because they do not require on-premise gear or software for agents to execute their work, cloud contact centre solutions enable contact centres to retain business continuity. 2. Contact center agents demand a better employee experience: The contact centre agents are stressed out, given the significant increase in consumer query volume. They want a more favorable experience, one that allows them more freedom in terms of where and when they work. Cloud contact centres enable employees to work remotely, allowing them to work from home or wherever is most convenient for them. According to MMR report, agents who work from home have a greater retention rate (80%) than those who only operate from a contact centre (25%). Subsequently, several customer relationship solution providers extended their products to the cloud platform, allowing virtual and easy access to data from any system in the organization. In addition, the capabilities of the cloud platform are easy to upgrade, enabling enterprises to adapt to the ever-changing environment. Organizations around the world are adopting a work-from-home policy to respond to crises and respect social distancing norms. This has greatly affected the contact center services of the entire industry. In addition, due to the pandemic crisis and potential uncertainty, organizations are observing sudden behavior changes in their customer base. Customers request immediate solutions to their queries. Since most employees work in remote locations, many organizations have moved their customer service to cloud platforms. The inability to achieve low first call resolution (FCR) and higher average speed of answer (ASA) poses a challenge to the contact centre software business. Some of the Contact Center Operations Software: • Zendesk Support Suite. • Talkdesk. • NICE CXone. • Aircall. • Genesys Cloud CX. • UJET. • Genesys Multicloud CX.

Contact Center Software Market segment analysis:

Based on solution, Interactive Voice Responses segment held largest market share of xx% in 2020. Traditional speech recognition software cannot interpret tones and accents as precisely as interactive voice response solutions. On a case-by-case basis, interactive voice response systems assist organisations in assigning callers to appropriate departments or agents. Furthermore, an interactive voice response system allows customers to resolve product-related issues on their own rather than relying on customer service staff. Over the forecast period, the customer collaboration segment is expected to increase the most. The service enables organizations to better communicate with their present and new consumers. Furthermore, this technology helps firms to track, receive, and resolve customer support issues in a timely manner. The growing requirement to improve collaboration by utilizing photos and videos to better connect with clients is likely to fuel segment growth over the forecast period. Based on deployment, on-premise segment held largest market share of xx% in 2020. On-premise deployment is a model in which all of the gear and software needed to run and maintain a contact centre is situated on the customer's premises. These on-premise systems offer inerrability, reliability, customizability, and some scalability, but they are complex and costly to deploy. The benefits of these on-premise solutions' customizability may only be appreciated when firms engage extensively in professional services. Based on service, Integration & Deployment segment held largest market share of xx% in 2020. Over the forecast period, the increasing acceptance of cloud-based contact centre software solutions is likely to increase the use of integration and deployment services. Businesses all around the globe are investing heavily in the integration of different apps and solutions, such as Customer Relationship Management (CRM), into their business operations. As a result, the integration and deployment segment is expected to grow during the forecast period.

Contact Center Software Market Regional Insight:

North America region is the dominant region and it held largest market share of xx% in 2020. Organizations in this region have made significant investments in emerging technologies such as big data, analytics, and cloud platforms. Furthermore, there is a growing desire among major and small and medium-sized businesses to improve their efficiency by optimizing outward and inbound operations in the region. These factors are expected to drive the North American market. Over the forecast period, Asia Pacific is expected to be the fastest-growing regional market for contact centre software. The region's market is expected to be driven by the increasing adoption of contact centre software solutions by large as well as small and medium-sized businesses. The growing number of positive government initiatives to encourage the adoption of cloud-based technologies and the automation of business operations is likely to drive regional market growth. Furthermore, various companies from across the world are interested in investing in the region, which is expected to boost market growth.

Recent Developments:

• Five9 teamed with Conn3ct, a CX, unified communications, and network services communication provider, in December 2020 to use the latter's array of communication channels to improve customer experiences and enhance its footprint in EMEA. • Cisco purchased BabbleLabs, a noise removal technology firm, in October 2020 to strengthen its platform's video conference capabilities by leveraging BabbleLabs' expertise in noise removal and voice upgrades. • NICE announced Real-Time Interaction Guidance, an interaction guidance solution driven by its AI platform—ENLIGHTEN—in July 2020. The system, which is based on predictive behavioural models, aims to determine and score agent behaviours in order to improve sales opportunity discovery and customer satisfaction. The objective of the report is to present a comprehensive analysis of the Contact Center Software market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding the Contact Center Software market dynamics, structure by analyzing the market segments and projects the Contact Center Software market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Contact Center Software market make the report investor’s guide.

Contact Center Software Market Scope: Inquiry Before Buying

Contact Center Software Market
Report Coverage Details
Base Year: 2020 Forecast Period: 2021-2027
Historical Data: 2016 to 2020 Market Size in 2020: US $ 20.5 Bn.
Forecast Period 2021 to 2027 CAGR: 21 % Market Size in 2027: US $ 77.8 Bn.
Segments Covered: by Solution • Automatic Call Distribution (ACD) • Call Recording • Computer Telephony Integration (CTI) • Customer Collaboration • Dialer • Interactive Voice Responses (IVR) • Reporting & Analytics • Workforce Optimization • Others
by Service • Integration & Deployment • Support & Maintenance • Training & Consulting • Managed Services
by Deployment • Hosted • On-premise
by Enterprise Size • Large Enterprise • Small & Medium Enterprise
by End user • BFSI • Consumer Goods & Retail • Government • Healthcare • IT & Telecom • Travel & Hospitality • Others

Contact Center Software Market, by Region

• North America • Europe • Asia Pacific • Middle East and Africa • South America

Contact Center Software Market Key Players

• 8X8, Inc. • ALE International • Altivon • Amazon Web Services, Inc. • Ameyo • Amtelco • Aspect Software • Avaya Inc. • Avoxi • Cisco Systems, Inc. • Enghouse Interactive Inc. • Exotel Techcom Pvt. Ltd. • Five9, Inc. • Genesys • Microsoft Corporation • NEC Corporation • SAP SE • Spok, Inc. • Talkdesk, Inc. • Twilio Inc. • UiPath • Unify Inc. • VCC Live Frequently Asked Questions: 1. Which region has the largest share in Contact Center Software Market? Ans: North America region holds the highest share in 2020. 2. What is the growth rate of Contact Center Software Market? Ans: The Contact Center Software Market is growing at a CAGR of 21 % during forecasting period 2021-2027. 3. What segments are covered in Contact Center Software market? Ans: Contact Center Software Market is segmented into solution, service, deployment, enterprise size, end user and region. 4. Who are the key players in Contact Center Software market? Ans: The important key players in the Contact Center Software Market are – 8X8, Inc., ALE International, Altivon, Amazon Web Services, Inc., Ameyo, Amtelco, Aspect Software, Avaya Inc., Avoxi, Cisco Systems, Inc., Enghouse Interactive Inc., Exotel Techcom Pvt. Ltd., Five9, Inc., Genesys, Microsoft Corporation, NEC Corporation, SAP SE. 5. What is the study period of this market? Ans: The Contact Center Software Market is studied from 2020 to 2027.
1. Global Contact Center Software Market: Research Methodology 2. Global Contact Center Software Market: Executive Summary 2.1. Market Overview and Definitions 2.1.1. Introduction to Global Contact Center Software Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Contact Center Software Market: Competitive Analysis 3.1. MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2. Consolidation in the Market 3.2.1 M&A by region 3.3. Key Developments by Companies 3.4. Market Drivers 3.5. Market Restraints 3.6. Market Opportunities 3.7. Market Challenges 3.8. Market Dynamics 3.9. PORTERS Five Forces Analysis 3.10. PESTLE 3.11. Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • Latin America 3.12. COVID-19 Impact 4. Global Contact Center Software Market Segmentation 4.1. Global Contact Center Software Market, by Solution (2020-2027) • Automatic Call Distribution (ACD) • Call Recording • Computer Telephony Integration (CTI) • Customer Collaboration • Dialer • Interactive Voice Responses (IVR) • Reporting & Analytics • Workforce Optimization • Others 4.2. Global Contact Center Software Market, by Service (2020-2027) • Integration & Deployment • Support & Maintenance • Training & Consulting • Managed Services 4.3. Global Contact Center Software Market, by Deployment (2020-2027) • Hosted • On-premise 4.4. Global Contact Center Software Market, by Enterprise Size (2020-2027) • Large Enterprise • Small & Medium Enterprise 4.5. Global Contact Center Software Market, by End user (2020-2027) • BFSI • Consumer Goods & Retail • Government • Healthcare • IT & Telecom • Travel & Hospitality • Others 5. North America Contact Center Software Market(2020-2027) 5.1. North America Contact Center Software Market, by Solution (2020-2027) • Automatic Call Distribution (ACD) • Call Recording • Computer Telephony Integration (CTI) • Customer Collaboration • Dialer • Interactive Voice Responses (IVR) • Reporting & Analytics • Workforce Optimization • Others 5.2. North America Contact Center Software Market, by Service (2020-2027) • Integration & Deployment • Support & Maintenance • Training & Consulting • Managed Services 5.3. North America Contact Center Software Market, by Deployment (2020-2027) • Hosted • On-premise 5.4. North America Contact Center Software Market, by Enterprise Size (2020-2027) • Large Enterprise • Small & Medium Enterprise 5.5. North America Contact Center Software Market, by End user (2020-2027) • BFSI • Consumer Goods & Retail • Government • Healthcare • IT & Telecom • Travel & Hospitality • Others 5.6. North America Contact Center Software Market, by Country (2020-2027) • United States • Canada • Mexico 6. European Contact Center Software Market (2020-2027) 6.1. European Contact Center Software Market, by Solution (2020-2027) 6.2. European Contact Center Software Market, by Service (2020-2027) 6.3. European Contact Center Software Market, by Deployment (2020-2027) 6.4. European Contact Center Software Market, by Enterprise Size (2020-2027) 6.5. European Contact Center Software Market, by End user (2020-2027) 6.6. European Contact Center Software Market, by Country (2020-2027) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Contact Center Software Market (2020-2027) 7.1. Asia Pacific Contact Center Software Market, by Solution (2020-2027) 7.2. Asia Pacific Contact Center Software Market, by Service (2020-2027) 7.3. Asia Pacific Contact Center Software Market, by Deployment (2020-2027) 7.4. Asia Pacific Contact Center Software Market, by Enterprise Size (2020-2027) 7.5. Asia Pacific Contact Center Software Market, by End user (2020-2027) 7.6. Asia Pacific Contact Center Software Market, by Country (2020-2027) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa Contact Center Software Market (2020-2027) 8.1. Middle East and Africa Contact Center Software Market, by Solution (2020-2027) 8.2. Middle East and Africa Contact Center Software Market, by Service (2020-2027) 8.3. Middle East and Africa Contact Center Software Market, by Deployment (2020-2027) 8.4. Middle East and Africa Contact Center Software Market, by Enterprise Size (2020-2027) 8.5. Middle East and Africa Contact Center Software Market, by End user (2020-2027) 8.6. Middle East and Africa Contact Center Software Market, by Country (2020-2027) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. Latin America Contact Center Software Market (2020-2027) 9.1. Latin America Contact Center Software Market, by Solution (2020-2027) 9.2. Latin America Contact Center Software Market, by Service (2020-2027) 9.3. Latin America Contact Center Software Market, by Deployment (2020-2027) 9.4. Latin America Contact Center Software Market, by Enterprise Size (2020-2027) 9.5. Latin America Contact Center Software Market, by End user (2020-2027) 9.6. Latin America Contact Center Software Market, by Country (2020-2027) • Brazil • Argentina • Rest Of Latin America 10. Company Profile: Key players 10.1. 8X8, Inc. 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. ALE International 10.3. Altivon 10.4. Amazon Web Services, Inc. 10.5. Ameyo 10.6. Amtelco 10.7. Aspect Software 10.8. Avaya Inc. 10.9. Avoxi 10.10. Cisco Systems, Inc. 10.11. Enghouse Interactive Inc. 10.12. Exotel Techcom Pvt. Ltd. 10.13. Five9, Inc. 10.14. Genesys 10.15. Microsoft Corporation 10.16. NEC Corporation 10.17. SAP SE 10.18. Spok, Inc. 10.19. Talkdesk, Inc. 10.20. Twilio Inc. 10.21. UiPath 10.22. Unify Inc. 10.23. VCC Live

About This Report

Report ID6799
Category Information Technology & Telecommunication
Published DateAug 2019
Updated DateJan 2022
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