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Contact Center Software Market to Reach USD 60.35 Billion by 2027; Increasing Adoption of Omnichannel Solutions to Favor Market

October 06, 2020 | Information & Technology

The global contact center software market size is expected to reach USD 60.35 billion by 2027. The growing concertation on retaining customer loyalty with unified services will spur opportunities for the market, mentioned in a report, titled Contact Center Software Market Size, Share & COVID-19 Impact Analysis, By Component (Solution and Services), By Deployment (Cloud, and On-Premises), By Enterprise Size (Large Enterprises and Small & Medium Enterprises), By Industry (BFSI, ITES, IT and Telecom, Government, Healthcare, Consumer Goods and Retail, Travel and Hospitality, Media and Entertainment, and Others), and Regional Forecast, 2020-2027.” The market size stood at USD 20.72 billion in 2019 and is expected to exhibit a CAGR of 14.3% between 2020 and 2027.


Integration of CXone with Microsoft Teams to Stimulate Growth


NICE inContact, a major leader in cloud contact center software announced that they have made it possible to integrate Microsoft Teams and Microsoft Dynamics 365 Customer Service with NICE inContact CXone. The amalgamation of the software will agents to provide instant case resolution to its customers. The Microsoft Dynamics 365 Customer Service offers voice connectivity and embedded agent controls, thus completing the app’s consolidated agent desktop besides boosting productivity and empowering personalized customer experiences. This collaboration will offer a comprehensive digital-first omnichannel for Contact Center as a Service (CCaaS) industry, thus enhancing customer experience, in turn augmenting the growth of the market during the forecast period.


To get a detailed report summary and research scope of this market, click here:


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


Rising Popularity of Omnichannel Services to Boost Market


The rising acceptance of omnichannel solutions is expected to create opportunities for the market. For instance, omnichannel solution enables customers to communicate through any channels such as emails, social media, SMS, calls, video, live chats, and more. It also offers personalized communication with customers, thus retaining customer locality. The growing implementation of such solutions among organizations owing to its advantages such as reduced customer service costs and resolved complaints will aid the expansion of the market. Moreover, it also provides real-time insights of customers across channels, thus leading to better customer relationships.


Strategic Acquisition and Collaborations Industry Players to Consolidate Business


Companies such as Genesis, NEC corporation, NICE corporation, Mitel Networks Corporation, Microsoft Corporation, among others are intensifying their businesses by offering innovative and advanced solutions. The heavy investment by eminently companies in unique and innovative solutions for clients will have an excellent effect on the market. The key players in the market are adopting strategies such as acquisition, partnerships, and collaborations to retain its position in the market. For instance, in August 2019, Cisco Systems, Inc announced the acquisition of CloudCherry, a customer experience management provider. With the acquisition, the company aims to imply predictive analytics to enhance the customer journey and the agent’s productivity.


The Report Lists the Main Companies in this Market:



  • Alcatel Lucent Enterprise (Colombes, France)

  • Cisco Systems, Inc. (California, United States)

  • Genesys Telecommunications Laboratories, Inc. (California, United States)

  • Five9 (California, United States)

  • 8x8, Inc. (California, United States)

  • NICE Ltd. (Ra'anana, Israel)

  • 3CLogic (Maryland, United States)

  • NEC Corporation (Tokyo, Japan)

  • Oracle Corporation (California, United States)

  • Avaya, Inc. (California, United States)

  • SAP SE (Walldorf, Germany)

  • Mitel Networks Corporation (Ottawa, Canada)

  • Bright Pattern, Inc. (California, United States)

  • Aspect Software (Massachusetts, United States)

  • Evolve IP, LLC. (Pennsylvania, United States)

  • Enghouse Interactive Inc. (Arizona, United States)

  • Microsoft Corporation (Washington, United States)

  • West Corporation (Nebraska, United States)

  • Zendesk, Inc. (California, United States)

  • ZTE Corporation (Shenzhen, China)


Further Report Findings:



  • Regional Analysis: The market for contact center software in Asia Pacific is expected to rise tremendously during the forecast period owing to the existing IT and ITES companies in the region. The booming healthcare, BFSI, consumer goods, and retail industries will further enhance the development of the market in the region. The growing investment in small and medium enterprises across various developing countries will boost the market in the region.

  • Leading Segment: The consumer goods and retail industry are expected to hold the largest share in the global contact center software market owing to the surging online shopping among consumers. The growing customer inquiries in consumer goods and retail sectors will further aid the segment during the forecast period.


The Global Market of Contact Center Software is Segmented into:














































 ATTRIBUTE



  DETAILS



Study Period



 2016-2027



Base Year



  2019



Forecast Period



  2020-2027



Historical Period



  2016-2018



Unit 



  Value (USD Billion)



Segmentation



By Component



  • Solution                      


    • Interactive Voice Response (IVR)

    • Automatic Call Distribution

    • Computer Telephony Integration (CTI)

    • Call Recording

    • Reporting and Analytics

    • Dialer 

    • Workforce Optimization

    • Customer Collaboration

    • Others


  • Services                      


    • Professional Services


      • Consulting Services

      • Training and Education

      • Support and Maintenance


    • Managed Services




By Deployment



  • Cloud

  • On-Premises



By Enterprise Size



  • Large Enterprises

  • Small & Medium Enterprises



By Industry



  • Banking, Financial Services, and Insurance

  • ITES

  • IT and Telecom

  • Government

  •  Healthcare

  • Consumer Goods and Retail

  • Travel and Hospitality

  • Media and Entertainment

  • Others



By Region



  • North America (The U.S., and Canada)

  • Europe (The U.K., Germany, France, Spain, and Rest of Europe)

  • Asia Pacific (China, Japan, India, Southeast Asia, and Rest of Asia Pacific)

  • The Middle East & Africa (GCC, South Africa, and Rest of the Middle East & Africa)

  • Latin America (Mexico, Brazil, and Rest of Latin America)


Contact Center Software Market
  • PDF
  • 2019
  • 2016-2018
  • 140

    CHOOSE LICENSE TYPE

  • 4850
    6850
    8850

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