global Contact Center Software market size is expected to be worth around US$ 90.9 billion by 2028, according to a new report by Vision Research Reports.
The global Contact Center Software market size was valued at US$ 20.7 billion in 2020 and is anticipated to grow at a CAGR of 21.5% during forecast period 2021 to 2028.
Increasing use of social media platforms by customers across the globe is expected to drive the market. Moreover, the growing need to cater to constantly changing customer requirements is further anticipated to fuel market growth over the forecast period.
Contact center software acts as a common platform to gather customer data for analysis. This software can effectively use demographic, behavioral, and location-based customer information to appropriately match the correct agent to the right customer. Moreover, this approach helps businesses in increasing customer satisfaction while delivering improvements in cross-sell and upsell rates.
Numerous businesses across the globe are focusing on adopting contact center software solutions. These solutions are helping businesses in boosting operational efficiency, improving customer service, and offering enhanced reporting features for management. Moreover, the rising demand for improved omnichannel experiences is further expected to fuel market growth over the forecast period.
The interactive voice response segment led the market for contact center software and accounted for more than 23.04% share of the global revenue in 2020. Interactive voice response solutions can interpret tones and accents with more precision than traditional speech recognition software. Interactive voice response systems help businesses in assigning the caller to concerned departments or agents on a case-by-case basis. Furthermore, an interactive voice response solution enables clients to resolve product-related queries by themselves rather than depending on customer care representatives.
The customer collaboration segment is anticipated to register the highest growth over the forecast period. The solution allows businesses to interact with their potential and existing customers in a better way. Moreover, this solution enables businesses to quickly track, receive, and resolve customer support issues. The increasing need to enhance collaboration by using images and videos to communicate effectively with clients is expected to drive the segment growth over the forecast period.
The integration and deployment segment dominated the market for contact center software and accounted for more than a 42.04% share of the global revenue in 2020. The increasing adoption of cloud-based contact center software solutions is expected to drive the usage of integration and deployment services over the forecast period.
The managed services segment is anticipated to register the highest growth over the forecast period. Managed service providers are helping businesses in keeping applications running for end users with configuration management, provisioning, standard change management, and patch management tools. Furthermore, managed services offer an array of value-added services to help businesses achieve the most in performance and reliability from contact center software solutions while keeping operational costs under control.
The on-premise segment led the market for contact center software and accounted for more than 59.04% share of the global revenue in 2020. On-premise deployment is a model where all hardware and software required to operate and maintain a contact center is located on a customer’s property. These on-premise solutions provide integrability, reliability, customizability, and some amount of scale but are difficult and expensive to deploy. The customizability benefits of these on-premise solutions can only be realized when businesses invest heavily in professional services.
The hosted segment is anticipated to register the highest growth over the forecast period. Businesses across the globe are focusing on adopting cloud-based contact center solutions over on-premise solutions owing to their ability to scale services. Cloud solutions connect agents to centralized contact center applications, along with offering a secure intranet for employees to collaborate and communicate with each other. Also, cloud-based solutions are able to offer in-depth information about agents and customers that executives wouldn’t be able to track with on-premise solutions.
The large enterprise segment dominated the market for contact center software and accounted for more than a 58.04% share of the global revenue in 2020. Large enterprises have their customers located across regions. Large enterprises are anticipated to invest in the latest and advanced technologies to run their business effectively. Moreover, large enterprises prefer implementing solutions and services that are anticipated to assist them in enhancing their profit. This, as a result, is expected to drive the adoption of contact center software solutions in large enterprises.
The small and medium enterprise segment is anticipated to register the fastest growth over the forecast period. The growing implementation of customer care solutions by small and medium enterprises across the globe is expected to drive the segment growth over the forecast period. Also, small and medium enterprises are adopting these solutions to decrease the burden of carrying out normal mundane tasks and to allow agents to focus on organizational development. This, as a result, is expected to drive the adoption of contact center software solutions in small and medium enterprises.
The IT and telecom segment led the market for contact center software and accounted for more than 26.04% share of the global revenue in 2020. The IT and telecom industry is becoming more competitive than ever. Multiple new companies are entering the industry bringing in their innovative methods and approaches to achieve success. As a result, companies that have already established themselves in the industry are widely adopting contact center software solutions to increase the efficiency of business operations.
The consumer goods and retail segment is anticipated to register the fastest growth over the forecast period. Customers are moving towards digital channels for their shopping needs. In addition, the adoption of new technologies and channels by consumers has forced consumer goods and retail businesses to adapt to contact center software solutions for providing exceptional customer experiences. These solutions help businesses and retailers build strong customer relationships through personalized customer interactions.
North America dominated the contact center software market and accounted for more than a 36.04% share of the global revenue in 2020. North America is home to some of the prominent market players. In this region, organizations have rapidly invested in emerging technologies, such as big data, analytics, and cloud platforms. Furthermore, there has been an increasing demand among large as well as small and medium enterprises to increase their efficiency by improving outbound and inbound operations in the region. These factors are expected to drive the market in North America.
Amazon Web Services, Inc.
Cisco Systems, Inc.
Enghouse Interactive Inc.
Exotel Techcom Pvt. Ltd.
Automatic Call Distribution (ACD)
Computer Telephony Integration (CTI)
Interactive Voice Responses (IVR)
Reporting & Analytics
Integration & Deployment
Support & Maintenance
Training & Consulting
Enterprise Size Outlook
Small & Medium Enterprise
Banking, Financial Services and Insurance (BFSI)
Consumer Goods & Retail
IT & Telecom
Travel & Hospitality
Middle East & Africa
The Contact Center Software market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Contact Center Software market for the base year 2020 and the forecast between 2021 and 2028. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Contact Center Software market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Contact Center Software market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Contact Center Software market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Contact Center Software capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Contact Center Software by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Contact Center Software market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2028. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Contact Center Software market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Contact Center Software market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Contact Center Software industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Contact Center Software market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Contact Center Software market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Contact Center Software market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Contact Center Software market. These factors have benefited the growth of the global market for Contact Center Software. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Contact Center Software. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Contact Center Software are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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