Contact Center Software Market to Exhibit a CAGR of 19.6% Between 2024-2032; Incipient AI Technologies Integrated in Contact Center Solution to Aid Market Growth

The global contact center software market size was valued at USD 42.47 billion in 2023. The market is projected to grow from USD 52.17 billion in 2024 to USD 218.31 billion by 2032, exhibiting a CAGR of 19.6% during the forecast period. Fortune Business Insights™ presents this information in its report titled “Contact Center Software Market Size, Share & COVID-19 Impact Analysis, By Component (Solution and Services), By Deployment (Cloud and On-Premise), By Enterprise Type (Small & Medium Enterprises and Large Enterprises), By Vertical (BFSI, ITES, IT and Telecom, Government, Healthcare, Consumer Goods & Retail, Travel & Hospitality, Media & Entertainment, and Others), and Regional Forecast, 2024-2032“

To anticipate the tone of a customer’s expression while communicating, NLP and machine learning are implemented to identify and enhance customer service. For instance, Amazon Connect cloud-based contact center technology was installed by Capital One to create an intelligent and smooth customer experience. Moreover, to retain loyal customers, companies are adopting seamless services, which has also created fierce competition in the market. 

Pandemic Augmented the Demand for Customer Support Services

During the pandemic, companies witnessed behavioral changes in customers. Immediate solutions demanded by customers made companies shift their support to cloud. In the next 18 months, 62% of companies aimed to establish contact centers that are cloud-based, according to the global contact center report published by Cisco Systems, Inc. in 2020.

3C Logic’s Advanced Contact Solution to Enhance Customer Experience

The contact center’s performance can be augmented by enhanced customer experience using CTI and Contact Center Solution launched by 3CLogic on SAP Store. SAP CRM Service Manager and Sales are integrated with the solution for enhanced intelligent voice and SMS.

Better Experience and Fast Assistance by Cloud-based Systems to Bolster Market

For quick assistance and better service, companies prefer cloud-based contact centers. High costs of on-premise solutions and fierce competition have led businesses to adopt cloud-based software. For instance, the 8x8 contact center was launched for Microsoft Teams by 8x8 Inc. in March 2021. This solution provides an integrated contact center to employees and agents by direct routing solution, which can be managed at Teams endpoint. These developments will likely increase the contact center software market share.

However, cloud attacks and high installation and maintenance costs of these solutions may impede the contact center software market growth.

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https://www.fortunebusinessinsights.com/industry-reports/contact-center-software-market-100840

Competitive Landscape

Key Contact Center Software Players to Acquire Business to Broaden their Services

Market leaders focus on investing in research and development to enhance contact center software solutions. Businesses are focused on expanding their operations and acquiring medium and small vendors. For instance, to streamline customer engagement for all business types, ID Cloud - Premium Contact Centre Software offers a complete engagement platform. Teckinfo Solutions Pvt. Ltd. launched this in April 2023.

Notable Industry Development: 

• April 2021 – NICE Ltd. launched CXone Expert. It is a comprehensive knowledge management system driven by Artificial Intelligence (AI). It lowers friction by projecting personalized material to customers seeking self-service and infusing critical insights throughout the customer journey. CXone Expert transforms bots into intelligent AI-based agents, removing the frustrations of today's self-service experience.

List of Key Players Profiled in the Report:

• Alcatel Lucent Enterprise (France)


• NEC Corporation (Japan)


• Mitel Networks Corporation (Canada)


• Bright Pattern, Inc. (U.S.)


• Enghouse Interactive Inc. (U.S.)


• Genesys Telecommunications Laboratories, Inc. (U.S.)


• Five9 (U.S.)


• 8x8, Inc. (U.S.)


• NICE Ltd. (Israel)


• 3CLogic (U.S.)

Further Report Findings:

• With a revenue of USD 10.37 billion in 2022, North America leads the market. It is expected to continue to lead during the forecast period due to adoption and integration of advanced technologies across various industries.


• Europe is projected to grow steadily during the forecast period due to the expansion of service-based industries.

Table of Segmentation