HOME Press Releases Contact Center Software Market worth 29.13 Billion USD by 2022



Contact Center Software Market worth 29.13 Billion USD by 2022


The report "Contact Center Software Market by Solution (Customer Collaboration, Dialers, ACS, IVR, CTI, Workforce Optimization, Reporting, and Analytics), Service, Deployment Type (On-Premises and Cloud), Organization Size, Vertical, and Region - Global Forecast to 2022", The contact center software market size is estimated to grow from USD 13.27 Billion in 2016 to USD 29.13 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 13.8% during the forecast period (2017–2022).

Browse 79 Market Data Tables and 40 Figures spread through 158 Pages and in-depth TOC on "Contact Center Software Market by Solution (Customer Collaboration, Dialers, ACS, IVR, CTI, Workforce Optimization, Reporting, and Analytics), Service, Deployment Type (On-Premises and Cloud), Organization Size, Vertical, and Region - Global Forecast to 2022"
http://www.marketsandmarkets.com/Market-Reports/contact-center-software-market-257044641.html
Early buyers will receive 10% customization on reports.

The growing need among organizations to offer seamless customer experience and to automate in-bound and out-bound operations have led to the adoption of contact center software. Moreover, the contact center software facilitates clients with increased cross-selling and upselling opportunities through multiple channels, including voice, video, web, and social media. The continuous advancements in this technology and its solutions have also encouraged various verticals to adopt contact center software and services.

SMEs segment in the contact center software market is expected to grow at the highest CAGR during the forecast period

The Small and Medium-sized Enterprises (SMEs) segment is expected to grow at the highest CAGR in the contact center software market during the forecast period. SMEs face some specific challenges, such as the requirement of domain-specific technical personnel and skilled workforce, budget constraints, and limited economies of scale. Therefore, SMEs are considering cloud-based contact center solutions which offer several advantages, such as scalability, flexibility, and reduced operational cost. As SMEs have budget constraints, they prefer cloud-based contact center solutions. The increasing demand for enhanced communication between customers and organizations through multiple channels including voice, web, and social media has encouraged vendors to offer economical contact center solutions to clients. In the coming years, SMEs are expected to have a higher adoption rate of contact center solutions which would help SMEs enhance their productivity cost-effectively.

Banking, Financial Services, and Insurance (BFSI) vertical is expected to hold the largest market share during the forecast period

The banking, financial services, and insurance (BFSI) vertical is expected to hold the largest market share during the forecast period in the contact center software market. This vertical has experienced transformations pertaining to how organizations approach customers to market their solutions and to provide services through multiple touch points including voice, video, online banking, and social media. Customers expect faster query resolution and instant service. Digitization has transformed the way customer interacts with BFSI organizations. The BFSI vertical provides significant growth opportunities for the contact center software market, due to the globalization of financial services. Contact center software enable BFSI organization to offer enhanced service and to manage customer queries on real-time basis. Thereby, helping players in the BFSI vertical to enhance customer retention and brand loyalty.

North America is expected to adopt contact center software and services considerably in 2017

North America has been a predominately concerned market toward the adoption of contact center software solutions and services. The high adoption of cloud, mobile, analytics, and social media among enterprises across various industry verticals has helped contact center software market to grow in North America. Organizations in North America, particularly in the US, are offering a higher pay for high skilled and talented workforce who can deal with complex issues pertaining to automation solutions. In the US and Canada, verticals such as BFSI are using contact center software for marketing as well as for enhanced service delivery across the globe.

Major players of the contact center software market include such as Genesys Telecommunications Laboratories, Inc.(US), Cisco Systems (US), Avaya Inc. (US), Mitel Networks Corporation (Canada), Enghouse Interactive (US), SAP SE (Germany), Five9, Inc (US), Huawei Technologies Co., Ltd. (China), Alcatel-Lucent Enterprise (France), Oracle Corporation (US), 8x8, Inc. (US), Unify Inc. (US), and Drishti Soft Solutions Pvt. Ltd. (India).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Rohan
MarketsandMarkets™
701 Pike Street,
Suite 2175, Seattle,
WA 98101, United States
1-888-600-6441
Email: sales@marketsandmarkets.com

Connect Us

Follow us on LinkedIn  Follow us on Facebook   Follow us on Twitter 
Live Chat Support


US : 1-888-600-6441

Search reports