Contact Center Software Market by Component (Software and Services), Deployment (Cloud and On-premises), Enterprise Size (Large Enterprises and SMEs), End Use Industry (BFSI, IT & Telecom, Consumer Goods & Retail, Media & Entertainment, Travel & Hospitality, Healthcare, and Others): Global Market Size Estimates and Forecast (2022-2030)

Code: BMIRE00026499 | Pages: 100 | Industry: Technology, Media and Telecommunications | Date: Sep 2022 | Type: Global

The contact center software market crossed US$ 32.56 billion mark in 2022 and is expected to hit US$ 148.17 billion by 2030, recording a CAGR of 20.9% during the forecast period.

 

Contact center software market has been significantly growing with the high adoption of the contact center as a service (CCaaS) across various enterprises segment.

The emergence of omnichannel, the development of virtual assistants, and even the emergence of metaverse have all been seen to increase in contact centers over the previous years. Modern, digital native customers have higher expectations than ever before and are eager to solve problems with the least number of interactions possible. This is due to the growing adoption of new technologies and the rise of disruptions driven by customer experience (CX). Cloud platforms have become increasingly important in recent years due to the considerable shift in agents’ preference for remote work. As a result, many operations currently benefit from simpler technology connections, making integrating innovations into the contact center ecosystem simpler. In the contact center software market, the services segment is expected to pace as it allows flexible, pay-as-you-go implementations along with a near-zero hardware footprint, which is suitable for small and medium-sized companies and large enterprises. 

Within the report, the contact center software market is segmented into component, deployment, enterprise size, end-use industry, and geography. By component, the contact center software market is further segmented into software and services. Based on deployment, the contact center software market is bifurcated into on-premises and cloud. By enterprise size, the contact center software market is categorized into SMEs and large enterprises. Based on the end-use industry, the contact center software market is divided into BFSI, IT & Telecom, Consumer Goods & Retail, Media & Entertainment, Travel & Hospitality, Healthcare, and Others. Geographically, the contact center software market is sub-segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.

Contact center software leverages CRM, which helps in improving customer experiences, thereby driving the contact center software market growth.

With an emphasis on improving interactions between consumers and contact center workers, contact center software is a technological solution that improves efficacy and efficiency. Routing client contacts to agents, tracking critical metrics, and reporting on those interactions are the main tasks of contact center software. User-defined rules are included in contact center software to help assign contracts to qualified agents to handle particular kinds of inquiries. Initially, the capability of contact center software was largely restricted to incoming phone contact routing. In recent years, contact center software’s features have grown to include the ability to route contacts through various channels, including email, chat, SMS, social media, and more.

 

Infusion of AI in contact centers is automating the processes resulting in the expedition of contact center software market growth.

Contact centers driven by AI can overcome common challenges that businesses face without the need for human interference. For instance, AI aids in offering directions, provides store hours, and refills prescriptions. Through the automation resulting from the infusion of AI, the contact center becomes more efficient and saves time and costs. Using conversational AI, contact centers can improve customer experiences. In addition, AI leverages its smart, dynamic, and customized data-driven capacities and offers scalable advantages to businesses. Thus, AI-driven contact centers are better able to automate business processes resulting in improved customer experiences contributing to contact center software market growth.

Recent strategic developments in the contact center software market

The contact center software market has undergone several significant developments, and a few of these have been mentioned below:

  • In April 2022, Cisco released the latest digital channels, chat, email, short message service (SMS), and Facebook messenger in Webex contact centers in the US, UK, ANZ, and EU regions.  
  • In February 2022, to assist organizations in addressing the employee burnout epidemic, Thrive and Genesys formed a partnership.  

 

The contact center software market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. 3CLogic. Inc, 8x8, Inc., Cisco Systems, Inc., Huawei Technologies Co., Ltd., and Mitel Networks Corp. are the prominent players operating in the contact center software market.

Target audience for the report:

  • Contact center software providers
  • Contact center software-related service providers
  • Contact center software-related associations, organizations, forums, and alliances
  • Government bodies, such as regulating authorities and policy makers
  • Venture capitalists, private equity firms, and start-up companies
  • Contact center software-related distributors and sales firms
  • End users of contact center software
  • Research institutes, organizations, and consulting companies

Scope of the report:

In this report, the contact center software market has been segmented on the basis of:

  • Component:
    • Software
    • Services
  • Deployment mode
    • Cloud
    • On-premises
  • Enterprise Size:
    • Large enterprises
    • SMEs
  • End-use industry
    • BFSI
    • IT & Telecom
    • Consumer Goods & Retail
    • Media & Entertainment
    • Travel & Hospitality
    • Healthcare
    • Others 
  • Region
    • North America
    • Europe
    • Asia Pacific (APAC)
    • South & Central America
    • Middle East & Africa
  • Companies profiled
    • AK Steel Holding Corporation
    • 3CLogic. Inc
    • 8x8, Inc.
    • Cisco Systems, Inc.
    • Huawei Technologies Co., Ltd.

Companies profiled
- AK Steel Holding Corporation
- 3CLogic. Inc
- 8x8, Inc.
- Cisco Systems, Inc.
- Huawei Technologies Co., Ltd.

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