Contact Center Solution Market (By Type: Traditional and Digital; By End User: BFSI, Retail, Government, Healthcare, Manufacturing, Media & Entertainment, Telecom, IT, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2021-2030

The global contact center solution market is expected to hit growth at a CAGR of 19.1% over the forecast period and is anticipated to reach at US$ 118 billion by 2030.

A contact center solution is a system that offers automatic contact sharing and inbound contact handling capabilities, united with a high degree of complexities in terms of active contact traffic management. Contact center solutions have the capability of offering competitive benefits to enterprises by helping them to enhance efficiency and productivity through the automation of outbound and inbound processes of a contact center.

The global contact center solution market is broadly affected by several factors, including rise in technological advancements in the field of customer relationship management, and integration of artificial intelligence and machine learning into business processes, which is expected to boost the global contact center solution market during the forecast period. Increasing need to cater to dynamic customer requirements and rise in omni-channel communication have propelled the demand for contact center solutions across the globe.

Key Driver

• Organizations shifting from analog to digital technologies have led to tremendous growth in the amount of organizational data. Within the next few years, more than a quarter of the global population is anticipated to be using wireless devices. Hence, the demand for cross-channel communication solutions is projected to increase during the forecast period. Additionally, shift in working of BPO companies from phone calls to other communication channels, including e-mail, web chat, and social media is expected to boost the contact center solution market during the forecast period.
• Contact center solutions provide an efficient option to establish communication with customers in real-time. Hence, rise in demand to solve customer queries in real-time is expected to drive the contact center solution market.
• Usage of the Internet is expected to witness a rise from moderate to high levels halfway through the forecast period, due to anticipated rise in consumer awareness and increased use of smartphones (iOS and Android). This is also likely to lead to extensive adoption of contact center solutions such as automatic call distribution, IVR, and video chat.
• At present, contact center solution providers across the globe are facing integration challenges with existing systems, and the companies are planning to invest in emerging technologies but facing integration or implementation challenges with existing systems. This generates demand for high-quality infrastructure and need to realize the full potential of new capabilities. Additionally, change management and budget management are also emerging as significant barriers for contact center solution providers.

Adoption of Self-service Bots, Gig Agents to Help Improve Service

The transition from product-based to service-based model is expanding the application of contact center solutions. Self-service bots is increasingly gaining acceptance to serve customers and are very suitable for common queries of customers. Insurance companies are one of the key end users of contact center solutions to provide basic information of insurance products to customers.

Gig agents that are mostly students and stay-at-home adults are growing popular to serve as agents for contact center solutions. In particular, amid COVID-19, the trend of home sourcing is creating the demand for gig agents. These agents are equipped with laptops and have access to the corporate network via virtual private network (VPN) from their home networks. This has dramatically reduced the need for agents to report to their offices in a step to contain the spread of coronavirus.

Nonetheless, contact agents including gig agents and regular agents have the knowledge to comply with key regulations with the assistance of contact management software with respect to advanced routing and dialing solutions.

Tools for Proactive Response, Improved Agent Communication Propel Market Growth

Companies in the contact center solution market are investing in unique solutions for continued improvements in the contact center customer experience. With the emergence of AI, visual support, and predictive analytics, smart desktops and sentiment recognition are gaining prominence for the delivery of powerful, personalized, and convenient customer interactions.

The proliferation of Internet and use of smartphones are expected to lead to considerable rise in the demand for contact center solutions through the forecast period. Omnichannel communication, including voice messaging and social media are helping agents for improved interaction with customers. This is further supported by co-browsing and augmented-reality (AR) technologies to provide real-time solutions to customer problems.

Regional Scope

The contact center solution market in North America is expected to expand during the forecast period, owing to the presence of key market players and technological advancements. The U.S. is the key market in the region due to the high adoption and integration of contact center solutions by BPO companies. The contact center solution market in Europe is projected to witness favorable growth during the forecast period due to significant expansion of the service-based sector in the region. The Asia Pacific contact center solution market is likely to expand during the forecast period, owing to digitalization of the sector and presence of large number of IT companies in the region.

Key Players

Key players operating in the global contact center solution market are 8x8, Inc., Alcatel-Lucent International, Avaya, Inc., Cisco Systems, Inc., Five9, Inc., Huawei Technologies Co., Ltd., IBM Corporation, Mitel Networks Corp., NICE Ltd., Oracle Corporation, Salesforce.com, Inc., SAP SE, West Corporation, Zendesk Inc., and ZTE Corporation.

Market Segmentation

Contact Center Solution Market, By Type

• Traditional
• Digital

Contact Center Solution Market, By End User

• BFSI
• Retail
• Government
• Healthcare
• Manufacturing
• Media & Entertainment
• Telecom
• IT
• Others (Utilities and Education)

Contact Center Solution Market, By Region

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • Spain
  • Portugal
  • Italy
  • Germany
  • France
  • Rest of Europe
• Asia Pacific (APAC)
  • China
  • Japan
  • India
  • ASEAN
  • Rest of Asia Pacific
• Middle East & Africa (MEA)
  • United Arab Emirates
  • South Africa
  • Rest of Middle East & Africa
• Latin America
  • Colombia
  • Peru
  • Mexico
  • Argentina
  • Brazil
  • Chile
  • Rest of Latin America

This report focuses on contact center solution market includes crucial information on market share, market size, and growth rate for the forecast period 2021 to 2030 at the global level, regional level and company level. From a global perspective, this report represents overall contact center solution market size by analyzing historical data and future prospect. The study highlights deep analysis on the major drivers of the market, restraints, and challenges to help the business owners, suppliers, and marketing personnel in planning effective strategies for the forecast period. This will help the business and manufacturers to lead the market and gain prominent position in future. The report also presents vital information through graphical representation on factors like table, charts, and statistics. The study includes drivers and restraints of the global contact center solution market.

The research not only conducts forecasts in terms of value, but also evaluates the market on the basis of essential parameters, such as Year-on-Year (Y-o-Y) growth. This helps providers to recognize the future opportunities as well predictability of the market.

In order to understand and assess opportunities in this market, the report is categorically divided into five key sections on the basis of segments. The report analyzes the global market in terms of value (US$ dollers) and volume (Million Units).

The research report includes specific segments by region (country), by company, by all segments. This study provides information about the growth and revenue during the historic and forecasted period of 2017 to 2030. Every segment is further sub-segmented into several sub-segmented that are deeply analyzed by experts to offer valuable information to the buyers and market players. Understanding the segments helps in identifying the importance of different factors that aid the market growth.

Major Key Points Covered in Report:

Executive Summary: It includes key trends of the contact center solution market related to products, applications, and other crucial factors. It also provides analysis of the competitive landscape and CAGR and market size of the contact center solution market based on production and revenue.

Production and Consumption by Region: It covers all regional markets to which the research study relates. Prices and key players in addition to production and consumption in each regional market are discussed.

Key Players: Here, the report throws light on financial ratios, pricing structure, production cost, gross profit, sales volume, revenue, and gross margin of leading and prominent companies competing in the Contact center solution market.

Market Segments: This part of the report discusses about product, application and other segments of the contact center solution market based on market share, CAGR, market size, and various other factors.

Research Methodology: This section discusses about the research methodology and approach used to prepare the report. It covers data triangulation, market breakdown, market size estimation, and research design and/or programs.

Regional Analysis

The research report includes a detailed study of regions of North America, Europe, China, Japan and Rest of the World. The report has been curated after observing and studying various factors that determine regional growth such as economic, environmental, social, technological, and political status of the particular region. Analysts have studied the data of revenue and manufacturers of each region. This section analyses region-wise revenue and volume for the forecast period of 2017 to 2030. These analyses will help the reader to understand the potential worth of investment in a particular region.

The report provides in-depth segment analysis of the global contact center solution market, thereby providing valuable insights at macro as well as micro levels. Analysis of major countries, which hold growth opportunities or account for significant share has also been included as part of geographic analysis of the contact center solution market.

The report includes country-wise and region-wise market size for the period 2017-2030. It also includes market size and forecast by segments in terms of production capacity, price and revenue for the period 2017-2030.

Competitive Landscape and Market Share Analysis

The contact center solution market competitive landscape provides details by vendors, including company overview, company total revenue (financials), market potential, global presence, contact center solution sales and revenue generated, market share, price, production sites and facilities, SWOT analysis, product launch. For the period 2017-2020, this study provides the contact center solution sales, revenue and market share for each player covered in this report.

• Crucial data regarding the major contenders, product portfolio, market remuneration, and production patterns are documented in the report.
• The report presents the pricing models followed by each company, alongside the gross margins and market share held by each company.

Research Methodology

The research methodology adopted by analysts for compiling the global contact center solution market report is based on detailed primary as well as secondary research. With the help of in-depth insights of the market-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts for the global market.

During the primary research phase, analysts interviewed market stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on data obtained through interviews of genuine resources, analysts have emphasized the changing scenario of the global market.

For secondary research, analysts scrutinized numerous annual report publications, white papers, market association publications, and company websites to obtain the necessary understanding of the global contact center solution market.

The study objectives of this report are:

• To analyze and study the global market capacity, production, value, consumption, status (2017-2021) and forecast (2021-2030);
• Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
• Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
• To define, describe and forecast the market by type, application and region.
• To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
• To identify significant trends and factors driving or inhibiting the market growth.
• To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
• To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
• To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
• To strategically profile the key players and comprehensively analyze their growth strategies.