Contact Centre Software Global Market Report 2024

The contact center software are used for optimizing operations and communicating with customers by real-time call monitoring, routing customer contacts to agents, analyzing, tracking, and reporting critical metrics through a centralized platform. The contact center software is a telecommunication system that helps in increasing the efficiency of a contact center by focusing on interactions between contact center agents and customers.

The main components of contact center software are software and services. The contact center software improves the efficiency of the contact center and contributes to its success. The type of contact center software services provided is professional services and managed services that are deployed as cloud-based and on-premise. The various end-users of contact center software are banking, financial services, and insurance (BFSI), consumer goods and retail, healthcare, IT and telecom, and government.

The contact center software market research report is one of a series of new reports that provides contact center software market statistics, including contact center software industry global market size, regional shares, competitors with a contact center software market share, detailed contact center software market segments, market trends and opportunities, and any further data you may need to thrive in the contact center software industry. This contact center software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The contact centre software market size has grown rapidly in recent years. It will grow from $37.19 billion in 2023 to $44.31 billion in 2024 at a compound annual growth rate (CAGR) of 19.2%. The growth in the historic period can be attributed to customer experience focus, scalability for growing businesses, real-time communication, compliance with data security, remote work enablement.

The contact centre software market size is expected to see exponential growth in the next few years. It will grow to $94.08 billion in 2028 at a compound annual growth rate (CAGR) of 20.7%. The growth in the forecast period can be attributed to predictive analytics for customer insights, self-service and knowledge bases, continuous improvement through feedback, remote monitoring and coaching. Major trends in the forecast period include omnichannel communication, shift to cloud-based solutions, automation for routine tasks, agent assistive technologies, analytics and reporting enhancements, personalization through data utilization.

The rapid growth in the adoption of the cloud-based contact center is significantly contributing to the growth of the contact center software market. The cloud-based contact center is hosted on an internet server through which all inbound and outbound customer communications are handled. The growing adoption of the cloud-based contact center as they provide more scalability and flexibility than traditional contact centers is promoting the growth of the contact center software market. For instance, in April 2021, according to a survey of State of the Contact Center Report 2021, cloud-based contact centers have become the majority, with 75% of contact centers now operating in the cloud (44% fully, 31% hybrid). Therefore, the rapid growth in the adoption of the cloud-based contact center is driving the contact center software market growth.

The increasing demand for enhanced customer experience will propel the growth of the contact center software market going forward. Customer experience refers to the overall perception and satisfaction a customer has when interacting with a company's products, services, and brand throughout their journey. Contact center software is used to enhance the customer experience by providing efficient, personalized, and multi-channel communication, leading to improved satisfaction and loyalty. For instance, in January 2023, according to the Zendesk Customer Experience Trends Report 2022, a US-based provider of software-as-a-service products, 60% of business owners believe that providing good customer service encourages client retention, and 64% believe it has a positive effect on growth. Therefore, the increasing demand for enhanced customer experience will contribute to the growth of the contact center software market.

Technological advancements are the key trends gaining popularity in the contact center software market. Enterprises are integrating cloud to enhance the efficiency of contact center software. Cloud integration in contact center software enables the seamless connection and synchronization of data and communication channels across cloud-based applications and services, enabling efficient customer interactions and streamlined operations. For instance, in October 2023, Bharti Airtel, an India-based telecommunications company, launched an integrated omnichannel cloud platform called Airtel CCaaS (contact center as a service) under its Airtel IQ vertical. The new platform gives end-to-end solutions for contact centers, including voice, cloud, and software. The telco added that this is the first of its kind service in the country, where so far contact centers have contracted different vendors across different functions. Airtel CCaaS will enable call handling for both inbound and outbound calls in addition to call routing, call queuing, conference calling, call redirecting, and cloud monitoring accessible across all office locations.

Major companies operating in the contact center software market focus on technological advancements, such as AI-enabled platform, to improve customer engagement and service delivery. An AI-enabled platform in contact center software is a system that integrates artificial intelligence to enhance customer interactions and support, improving efficiency and customer satisfaction. For instance, in July 2022, Microsoft Corporation, a US-based technology company, launched the Microsoft digital contact center platform. Microsoft's Digital Contact Center platform is a comprehensive cloud-based solution for customer service and support, integrating AI and automation to enhance customer interactions. It is outfitted with cutting-edge digital capabilities for engaging clients via voice, video, and other digital engagement channels. The platform combines a comprehensive yet adaptable contact center solution, delivering best-in-class AI that drives self-service experiences, live customer engagements, collaborative agent experiences, business process automation, sophisticated telephony, and fraud prevention capabilities.

In August 2021, Avaya Holdings Corp., a US-based multinational technology company, acquired CTIntegrations, LLC, for an undisclosed amount. Through this acquisition, Avaya Holdings Corp. aims to strengthen its portfolio in composable cloud platform solutions. CTIntegrations, LLC, is a US-based contact center software development and system integration company.

Major companies operating in the in the contact centre software market report are Cisco Systems Inc., Oracle Corporation., SAP SE,ZTE Corporation,Nippon Electric Company Limited, Genesys Telecommunications Laboratories Inc., Mitel Networks Corporation., Talkdesk Inc., Drishti soft Solutions Pvt Ltd.,8x8 Inc., Aspect Software Inc.,Siemens Enterprise Communications Inc., Five9 Inc., Vocalcom SA,Enghouse Systems Limited, NICE Systems Ltd., Cisco Systems Inc.,Genesys Telecommunications Laboratories Inc., Genpact Ltd., RingCentral Inc., Salesforce com Inc., Talkdesk Inc., Twilio Inc., Zendesk Inc., Alcatel-Lucent Enterprise, Connect First Inc., NEC Corporation, Noble Systems Corporation, Serenova LLC., ShoreTel Inc.

North America was the largest region in the contact center software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the contact centre software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the contact centre software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The contact center software market includes revenues earned by entities by providing services such as interactive voice response, real-time reporting, CRM integration, call routing. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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