Global Contact Centre Software Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027

Contact Centre Software Market Overview

“The global Contact Centre Software market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”

Request Covid - 19 Impact

The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2026.

The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint.

The global contact center software market report has been segmented on the basis of solution type, service type, deployment type, verticals, and region.

In the customer dominant market, every customer wants their issues and concerns to be resolved in the quickest possible time. This is primarily due to fact that customers are now more informed, and have varieties of options to choose from.

This has brought an evolution in customer service. The market has become, more saturated and competitive, companies are coming up with different strategies to acquire and retain customers.

Over the past years, the online platform has made it easy and flexible for customers to switch because substitute is waiting just a click away. With the launch of the various mobile apps, various digital start-ups have been coming up and taking customers away from long-existing organizations, and competition is too intense.

Because competition for customers is always high, customer service or customer experience has become a key factor to attract and retain customers.  This has generated a contact center, as the primary touchpoint for customers at B2C businesses.

New technological investments are made to retain customers and increase overall customer lifetime value. A contact center manages customers with both voice calls and data applications such as e-mail, Web-based chat/instant messaging, and also included the capability to share Web pages sent to and from the customer.

A contact center also knowns as customer interaction is a central point of contact from which all customer contacts are managed. The contact center includes one or more call centers but may include other types of customer contact, as well.

A contact center is generally part of an enterprise's overall customer relationship management strategy.

The key factors which are driving the growth of contact centers are contextual communications which have made contact between customers and companies driven by the context, Omnichannel conversations interactions which means a continuous conversation regardless of which channel is used for each interaction, and artificial intelligence in which chatbots supports the conversations with the customers rather than customer service agents.

In addition, the adoption of cloud services which is shifting capital expenditure to operating expenditure, and avoiding costly infrastructure is another factor contributing to the growth of the market.

However, rising concerns about customer security and poor cross-departmental collaboration are the factors that may result in the factors that inhibit the growth of the market.

Currently, the market in North America dominates the global contact center software market in terms of revenue. The market in the Asia Pacific is projected to have the fastest growth with the highest CAGR, owing to the increasing adoption of contact center software and cloud services in the region.

Global Contact Centre Software Market Segmentation:

Segmentation on the basis of solutions

• Interactive Voice Response (IVR)
• Call routing
• Automatic Call Distribution (ACD)
• Computer Telephony Integration (CTI)
• Customer collaboration
• Dialler
• Reporting and analytics
• Workforce optimization
• Call recording
• Others (Compliance, and Voicemail and Messaging)

Segmentation on the basis of service type

• Professional Services
• Managed Services

Segmentation on the basis of deployment type

• Cloud-based
• On-Premises

Segmentation on the basis of verticals

• Banking, Financial Services, and Insurance (BFSI)
• Retail and Consumer Goods
• IT and Telecom
• Healthcare
• Travel and Hospitality
• Government
• Media and Entertainment
• Others (Education, Transportation and Logistics)

Segmentation on the basis of region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa