Contact Center Software Market To Rise, Based On Growing Adoption Of Cloud-Based And Virtual Contact

Contact Center Software Industry Overview

The global contact center software market size was valued at USD 23.94 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 23.2% from 2022 to 2030.

The growth of the market can be attributed to the growing adoption of cloud-based and virtual contact center solutions to achieve better business continuity. Contact centers across the globe are focusing on transforming customer experience from a single interaction to an entire journey of consistent and personalized interactions. At this juncture, contact center software is helping businesses in ensuring a seamless customer experience across all communication channels. The strong emphasis businesses are putting on streamlining and personalizing customer interactions to enhance customer satisfaction is driving the growth of the market.

According to a study by Salesforce.com, Inc., around 84% of customers consider the experience provided by a particular company equally important as its products and services. Businesses have also realized that improved customer service can aid in augmenting profitability.

Gather more insights about the market drivers, restrains and growth of the Global Contact Center Software Market

Hence, businesses are aggressively adopting contact center solutions as part of their efforts to improve customer service, thereby contributing to market growth. Businesses have realized the potential of cloud-based computing and management tools. Hence, several businesses across the globe are focusing on switching to cloud-based contact centers.

Contact center managers and administrators are adopting cloud technology for various reasons, such as improved security and efficiency. Apart from cloud computing, businesses are also adopting other omnichannel solutions, including video chat assistance and chatbots, based on the latest technologies such as Artificial Intelligence (AI) to improve customer experience. Several organizations have already started automating multiple business functions leveraging AI. Prescriptive AI, the next generation of this technology, offers a wide variety of new capabilities, ranging from more optimized case routing to efficient inquiry resolution and scheduling management.

Prescriptive AI is also expected to add a new dimension to the ways businesses can anticipate the evolving needs of customers, and help in extending customer interactions from discovery and onboarding to post-purchase support. Prescriptive AI can also be used for internal purposes, such as restocking based on demand and optimization of field resources. However, Interactive Voice Response (IVR) fraud or fraudulent activities occurring within the IVR systems may restrain the market growth over the forecast period.

Contact centers are increasingly being exposed to the risk of fraud attacks and the subsequent losses as they continue to adopt IVR systems, webchats, and self-service channels as part of the efforts to address the growing volumes of calls being received by the agents. Contact centers are constantly at the risk of cyberattacks as they store large volumes of critical customer data. Thus, the growing instances of cyberattacks on contact center business operations are also expected to hinder the growth of the market.

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Contact Center Software Market Segmentation

Grand View Research has segmented the global contact center software market on the basis of solution, service, deployment, enterprise size, end-use, and region:

Contact Center Software Solution Outlook (Revenue, USD Million, 2017 - 2030)

• Automatic Call Distribution (ACD)

• Call Recording

• Computer Telephony Integration (CTI)

• Customer Collaboration

• Dialer

• Interactive Voice Responses (IVR)

• Reporting & Analytics

• Workforce Optimization

• Others

Contact Center Software Service Outlook (Revenue, USD Million, 2017 - 2030)

• Integration & Deployment

• Support & Maintenance

• Training & Consulting

• Managed Services

Contact Center Software Deployment Outlook (Revenue, USD Million, 2017 - 2030)

• Hosted

• On-premise

Contact Center Software Enterprise Size Outlook (Revenue, USD Million, 2017 - 2030)

• Large Enterprise

• Small & Medium Enterprise (SME)

Contact Center Software End Use Outlook (Revenue, USD Million, 2017 - 2030)

• BFSI

• Consumer Goods & Retail

• Government

• Healthcare

• IT & Telecom

• Traveling & Hospitality

• Others

Contact Center Software Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East & Africa

Market Share Insights

• December 2021: 8X8, Inc. announced that DMV Veterinary Centers, an emergency and specialty pet hospitals and services provider in Canada, deployed an 8x8 Contact Center for Microsoft Teams, which is certified by Microsoft.

Key Companies profiled:

Some prominent players in the global contact center software market include

• 8X8, Inc.

• ALE International

• Altivon

• Amazon Web Services, Inc.

• Ameyo

• Amtelco

• Aspect Software

• Avaya Inc.

• Avoxi

• Cisco Systems, Inc.

• Enghouse Interactive Inc.

• Exotel Techcom Pvt. Ltd.

• Five9, Inc.

• Genesys

• Microsoft Corp.

• NEC Corp.

• SAP SE

• Spok, Inc.

• Talkdesk, Inc.

• Twilio Inc.

• UiPath

• Unify Inc.

• VCC Live

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