Dublin, Nov. 15, 2022 (GLOBE NEWSWIRE) -- The "Contact Center Software Market by Component (Solutions and Services), Deployment Model (Cloud and On-Premises), Organization Size ( Large and Small and Medium-Sized Enterprises), Industry and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The Contact Center Software market size is expected to grow from USD 35.2 billion in 2022 to USD 93.7 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 21.6% during the forecast period.
The services enables benefit the organizations by enhancing the contact center solution's execution and streamlining their operations
Services form an integral part of the Contact Center Software software life cycle. With these services, contact center solution providers enables end users to integrate and deploy software configured to their requirements. Enterprises across the globe are investing heavily on integrating several applications and tools, such as CRM into their business processes, thus, driving the growth of this segment. The growing need for business agility and rapid deployment of cloud-based solutions also contributes well for the growth of the these services in the market. The managed services segment is expected grow at fast rate over the forecast period.
Scalability and cost-effectiveness are the major factors driving the adoption of cloud-based Contact Center Software.
While enabling contact centers to optimize agent performance, enhance customer experiences, and streamline routing of calls and similar demands, cloud-based contact center solutions help eliminate costs related to physical telephony systems, servers, storage hardware, and technical staff. The cloud-based deployment model is expected to replace the on-premises-based deployment model in the short-term.
The intensely competitive market scenario has encouraged SMEs to invest in contact center solutions to achieve high business efficiency
Being constrained by limited budgets, small IT infrastructure, and staff, SMEs look for flexible, scalable, and cost-effective solutions. Hence, SMEs increasingly adopt cloud-based Contact Center Software solutions to optimize and automate customer communications and outreach.
Contact Center Software in the retail and consumer goods industry has a specific importance in the overall business operations and is expected to deliver a higher RoI
Contact center solutions are one-stop solutions that help retail and consumer goods businesses in building customer-centric market strategies and making faster decisions based on customer preferences, past buying behaviors, and real-time interactions. These solutions assist companies in making significant enhancements in business operations. Using the contact center solutions, companies can easily analyze the historical interest of customers and purchase patterns to deliver the best possible recommendations and gain maximum profits.
North America to dominate the Contact Center Software market in 2022
The two major countries contributing towards region's growth: the US and Canada are expected to boost the adoption of contact center software solution in the region. The vendors in this region are continuously focusing on developing and integrating contact center solutions for organizations that are willing to streamline their customer care processes.
For instance, in December 2021, 8X8, Inc. has announced that DMV Veterinary Centers, an emergency and specialty pet hospitals and services provider in Canada, have deployed their 8x8 Contact Center for Microsoft Teams which has helped DMV Veterinary Centers in meeting the growing demand for veterinary services and thus, effectively enhance the customer experience for pet owners.
The solution provides advanced omnichannel contact center capabilities to ensure quick resolution of customer issues across the four veterinary centers in Canada. The growth in call volumes, increase in demand for the remote management of contact center agent performance, heightened adoption of contact center solutions by government and public sector organizations, and rise in M&As and partnerships by contact center providers in the region drive the adoption of contact center solutions in North America.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Brief Overview of Contact Center Market
4.2 Contact Center Market, by Component, 2022 Vs. 2027
4.3 Contact Center Market, by Solution, 2022 Vs. 2027
4.4 Contact Center Market, by Service, 2022 Vs. 2027
4.5 Contact Center Market, by Deployment Model, 2022 Vs. 2027
4.6 Contact Center Market, by Organization Size, 2022 Vs. 2027
4.7 Contact Center Market, by Industry, 2022 Vs. 2027
4.8 Contact Center Market - Investment Scenario
5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Rising Adoption of Advanced Contact Center Technologies
5.2.1.2 Need for Handling Contact Center Attrition and Absenteeism
5.2.1.3 Role of Social Media in Contact Center Operations
5.2.1.4 Increasing Adoption of Virtual and Cloud-Based Contact Center Solutions During and Post-COVID-19
5.2.1.5 Continuous Transition to Cloud-Based Contact Centers
5.2.1.6 Growing Demand for Personalized and Streamlined Customer Interactions
5.2.2 Restraints
5.2.2.1 Inadequate Network Bandwidth Minimizes the Adoption of Voip and Cloud-Based Telephony
5.2.2.2 High Costs and Long-Term Contracts Associated with Pri Phone Services
5.2.2.3 Impact of Ivr Frauds and Cyber-Attacks on Business Operations
5.2.3 Opportunities
5.2.3.1 Dynamic Customer Demands for Robust Self-Service Interactions
5.2.3.2 Growing Demand for Analyzing Audio and Video Conversations
5.2.3.3 Shifting Focus of Enterprises Toward Work-From-Home Culture
5.2.4 Challenges
5.2.4.1 Data Privacy and Security Aspects
5.2.4.2 Barriers to Moving Contact Centers to Cloud Environments
5.3 Ecosystem
5.4 Supply Chain Analysis
5.5 Key Stakeholders and Buying Criteria
5.5.1 Key Stakeholders in the Buying Process
5.5.2 Buying Criteria
5.6 Technology Analysis
5.6.1 Advanced Analytics
5.6.1.1 Data Analytics
5.6.1.2 Speech Analytics
5.6.1.3 Sentiment Analytics
5.6.2 Artificial Intelligence
5.6.2.1 Machine Learning
5.6.2.2 Natural Language Processing
5.7 Pricing Analysis
5.8 Patent Analysis
5.9 Key Conferences and Events in 2022-2023
5.10 COVID-19 Driven Market Dynamics
5.11 Case Study Analysis
5.12 Porter's Five Forces Analysis
5.13 Emerging Trends
5.14 Tariff and Regulatory Landscape
6 Contact Center Software Market, by Component
6.1 Introduction
6.1.1 Component: Market Drivers
6.1.2 Component: COVID-19 Impact
6.2 Solution
6.2.1 Omnichannel Routing
6.2.1.1 Digital Channels
6.2.1.2 Interactive Voice Response
6.2.1.3 Automatic Call Distributors
6.2.1.4 Dialers
6.2.1.5 Virtual Agents
6.2.2 Workforce Engagement Management
6.2.2.1 Workforce Optimization
6.2.2.2 Call Recording and Quality Management
6.2.3 Reporting and Analytics
6.2.3.1 Historical and Customized Reports
6.2.3.2 Speech Analytics
6.2.3.3 Text Analytics
6.2.4 Customer Engagement Management
6.2.5 Other Solutions
6.3 Services
6.3.1 Consulting
6.3.2 Implementation and Integration
6.3.3 Training, Support, and Maintenance
7 Contact Center Software Market, by Deployment Model
7.1 Introduction
7.1.1 Deployment Model: Market Drivers
7.1.2 Deployment Model: COVID-19 Impact
7.2 On-Premises
7.3 Cloud
8 Contact Center Software Market, by Organization Size
8.1 Introduction
8.1.1 Organization Size: Market
8.1.2 Organization Size: COVID-19 Impact
8.2 Large Enterprises
8.3 Small and Medium-Sized Enterprises
9 Contact Center Software Market, by Industry
9.1 Introduction
9.1.1 Industry: Market Drivers
9.1.2 Industry: COVID-19 Impact
9.2 Banking, Financial Services, and Insurance
9.3 Telecommunications
9.4 Information Technology and Information Technology-Enabled Services
9.5 Government and Public Sector
9.6 Retail and Consumer Goods
9.7 Manufacturing
9.8 Energy and Utilities
9.9 Others
10 Contact Center Software Market, by Region
11 Competitive Landscape
11.1 Introduction
11.2 Key Players' Strategies/Right to Win
11.3 Market Share of Top Vendors
11.4 Historical Revenue Analysis of Leading Players
11.5 Competitive Scenario
11.6 Company Evaluation Quadrant
11.6.1 Stars
11.6.2 Emerging Leaders
11.6.3 Pervasive Players
11.6.4 Participants
11.7 Company Product Footprint Analysis
11.8 Sme Evaluation Quadrant
11.8.1 Progressive Companies
11.8.2 Responsive Companies
11.8.3 Dynamic Companies
11.8.4 Starting Blocks
11.8.5 Competitive Benchmarking
11.9 Sme/Startup Product Footprint Analysis
12 Company Profiles
12.1 Introduction
12.2 Key Companies
12.2.1 Genesys
12.2.2 Ibm
12.2.3 Aws
12.2.4 Five9
12.2.5 Twilio
12.2.6 Mitel
12.2.7 Nice
12.2.8 Cisco
12.2.9 Bt
12.2.10 Verizon
12.2.11 Avaya
12.2.12 Vonage
12.2.13 8X8
12.2.14 Atos
12.2.15 Talkdesk
12.2.16 Alcatel-Lucent Enterprise
12.2.17 Sinch
12.2.18 Oracle
12.2.19 Ringcentral
12.2.20 Lifesize
12.2.21 Content Guru
12.2.22 Aspect Software
12.2.23 Enghouse Interactive
12.2.24 3Clogic
12.2.25 Ameyo
12.2.26 Intrado
12.2.27 At&T
12.2.28 Nec
12.2.29 Zte
12.3 Startup/Sme Profiles
12.3.1 Vocalcom
12.3.2 Evolve Ip
12.3.3 Ujet
12.3.4 Amtelco
12.3.5 Avoxi
12.3.6 Vcc Live
12.3.7 Glia
12.3.8 Bright Pattern
12.3.9 Computertalk
12.3.10 C-Zentrix
13 Adjacent Market
13.1 Introduction
13.1.1 Related Market
13.2 Cloud-Based Contact Center Market
13.2.1 Introduction
13.2.2 Solutions
13.2.2.1 Omnichannel Routing
13.2.2.2 Workforce Engagement Management
13.2.2.3 Reporting and Analytics
13.2.2.4 Customer Engagement Management
13.2.2.5 Other Solutions
13.2.3 Services
14 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/cw2op
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