Contact Center Software Market Size & Share, Sector / Industry Report & Analysis, 2025 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Global Contact Center Software Market


The global Contact Center Software market size is projected to reach US$ 59.55 billion by 2026, from US$ 22.51 billion in 2020, at a CAGR of 17.6% during 2021-2026. Rapid technological advancements in the field of customer relationship management and integration of machine learning and artificial intelligence into business processes are anticipated to boost the growth.
The evolution of contact centers, from traditional voice-centric facilities, followed by multimedia customer interaction, to the unified communication social media with integrated channels, has enabled professionals to retain their customers. The emergence of the omnichannel customer experience towards contact center software is expected to accelerate the growth over the forecast period.

Nowadays, buyers widely prefer cloud-based systems owing to benefits, such as usage flexibility, elimination of installation time and costs, and reduced maintenance charges. Subsequently, several customer relationship solution providers have extended their offerings to the cloud platform, enabling easy access to data from virtually any system across an organization.

Robotic Process Automation (RPA) is likely to be a vital part of the contact center software market over the forecast period as RPA reduces errors and improves work quality. Organizations are seeking solutions that allow managers and agents in the customer relationship management department to invest their time in analytical activities and decision-making for organizational development and rely on robots for routine task.

Increasing demand for flexibility in conducting banking activities, wherever and whenever required by customers, has resulted in the Banking, Financial Services, and Insurance (BFSI) sector adopting advanced customer service solutions. These solutions also find application in the healthcare, government, media and entertainment, and travel and hospitality segments for resolving various customer queries. As a result, the demand for contact center solutions is anticipated to grow over the forecast period.

Market Segmentation, Outlook & Viewpoint: Global Contact Center Software Market

Solution Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2025)

  
Automatic Call Distribution (ACD)
  
Call Recording
  
Computer Telephony Integration (CTI)
  
Customer Collaboration
  
Dialer
  
Interactive Voice Responses (IVR)
  
Reporting & Analytics
  
Workforce Optimization
  
Others

Service Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2025)

  
Integration & Deployment
  
Support & Maintenance
  
Training & Consulting
  
Managed Services

Deployment Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2025)

  
Hosted
  
On-premise

Enterprise Size Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2025)

  
Large Enterprise
  
Small & Medium Enterprise (SME)

End Use Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2025)

  
Banking, Financial Services and Insurance (BFSI)
  
Consumer Goods & Retail
  
Government
  
Healthcare
  
IT & Telecom
  
Travel & Hospitality
  
Others

Key Players, Recent Developments & Regional Insights: Global Contact Center Software Market

Increasing demand from IT and telecom, BFSI, government, consumer goods and retail, travel and hospitality, and healthcare sectors is anticipated to drive the growth. The contact centers and unified collaboration software increasingly offer flexibility and multimedia to customers, thereby, enhancing customer satisfaction and ensuring brand loyalty. These software enhance efficiency and productivity which eventually help reduce operations costs; thereby increasing the adoption in end use industries.

As a part of the e-government initiative, offices and public organizations are expected to implement contact center solutions to efficiently carry out online processes related to citizen complaints, queries, inquiries, and feedback, among others. Globalization of the IT industry has resulted in a large customer/client database. The database is spread across the globe and needs to be managed effectively. This is subsequently increasing the demand for these solutions in end use industries.

Regional Insights

The presence of a large number of contact center software vendors in North America has resulted in increased awareness among local organizations about these software, thereby resulting in the large-scale adoption of the systems by the companies. The North America market was valued at USD 6.05 billion in the year 2018. Also, a large number of businesses are migrating to cloud storage; thereby creating growth opportunities for the regional market.
Asia Pacific is experiencing immense growth owing to the increasing number of favorable government initiatives for supporting automation of business processes and adoption of cloud-based systems. The presence of a large number of contact centers and customer experience regarding benefits associated with these software are instrumental in driving the market growth.

Contact Center Software Market Share Insights

The key vendors in the market include Alcatel-Lucent Enterprise; Avaya, Inc.; Cisco Systems, Inc.; Enghouse Interactive, Inc.; Five9, Inc.; Genesys; Microsoft Corporation; NEC Corporation; Mitel Corporation; SAP SE; Nice Systems Ltd.; and Huawei Technologies Co., Ltd.; among others. These companies develop and deploy contact center solutions for organizations that are desire to streamline their customer experience processes.

The presence of stiff competition in the market has resulted in the formation of strategic business units by organizations. Consequently, this has led to increased emphasis on customer feedback and its incorporation into streamline their operations and improving customer satisfaction. Additionally, companies are also investing in R&D to offer innovative products and to enhance customer experience.

Several companies are also focusing on inorganic growth strategies. For instance, in January 2018, Avaya Holdings Corporation acquired Spoken Communications, a Contact Center as a Service (CCaaS) solutions provider. This acquisition helped existing customers of Avaya Holdings to migrate from premise-based services to cloud service offerings at their respective pace.

Key Insights Covered: Global Contact Center Software Market

1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Contact Center Software industry.
2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Contact Center Software industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Contact Center Software industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Contact Center Software industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Contact Center Software industry.

Research Methodology: Global Contact Center Software Market

  
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other