Current New Trend of Work from Home (WFH) is fueling the adoption of contact center software to ensure business continuity and improve productivity
PORTLAND, OR, UNITED STATES, November 18, 2021 /EINPresswire.com/ – The growth of the world market Contact center software industry is driven largely by the increase in the use of contact center software by organizations to improve the customer experience in a variety of ways, including audio, video, mobile, web, and social media. In addition, the rise of the omnichannel communication approach, the rapid increase in customer relationship management and the demand for self-service have accelerated the global contact center software industry. However, integration issues with legacy systems and cost issues in the mobile phone software center have affected the growth of the business for some. On the other hand, the emergence of high-tech technologies such as intelligence, measurement, cloud computing and machine learning is expected to bring significant benefits for the growth of the industry. In addition, the increase in the use of social media by consumers is expected to be an opportunity for the market to expand during the forecast period.
In 2019, the global call center software market share market is dominated by solutions and is expected to maintain its dominance over the next few years due to the major development of interactive voice response (IVR) solutions which can be rapidly resolved to ask questions. These solutions allow consumers to resolve product issues on their own, rather than relying on customer service representatives. However, services are expected to experience the highest growth due to the high usage of end user services as they improve the efficiency of contact software throughout the process. In addition, the increasing integration of new and existing office systems and the increasing demand for new contact center software applications are expected to accelerate the development process of this section.
According to a recent report published by Allied Market Research titled “Contact Center Software Industry by Component, Type of Deployment, Company Size, Type of Solution, Industry Vertical: Opportunity Analysis and Industry Forecast, 2020 -2027 â, the global contact center software industry size was valued at $ 18,700 million in 2019 and is expected to reach $ 72,042 million by 2027, with a CAGR of 18.9% from 2020 to 2027.
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The current 2027 estimate is expected to be higher than pre-COVID-19 estimates. The COVID-19 outbreak has a low impact on the growth of the contact center software industry, as the adoption of contact center software has increased as a result of unprecedented circumstances. Companies increasingly need to step out of their existing infrastructure to develop a more agile approach to customer engagement. However, the success of customer engagement has always been determined by the accuracy and timeliness of inquiry addresses. In addition, the current trend of working from home (WFH) during the pandemic is fueling the adoption of contact center software to ensure business continuity.
Additionally, companies with on-premises systems are expected to migrate their contact centers to cloud-based software after the pandemic. For example, according to the NICE inContact survey, 66% of contact center decision makers around the world whose companies do not use cloud-based contact center software plan to accelerate their migration to the cloud by due to the pandemic. This factor is expected to provide lucrative opportunities for market growth after the pandemic.
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Main conclusions of the study
â¢ By component, in 2019 the solutions segment dominated the size of the contact center software industry. However, the service segment is expected to show significant growth during the forecast period.
â¢ Based on the type of deployment, the cloud segment generated the highest revenue in 2019.
â¢ Based on the size of the business, the large business segment generated the highest revenue in 2019, however, the small and medium business segment is expected to experience the highest growth rate during the period. forecast.
â¢ Based on industry vertical, BFSI segment accounted for the highest revenue in 2019, however, retail and e-commerce segment is expected to experience the highest growth rate during the forecast period.
â¢ Regionally, the contact center software industry was dominated by the North American region. However, Asia-Pacific is expected to experience significant growth in the coming years.
Some of the major players in Contact Center Software industry described in the report include Alcatel-Lucent Enterprise, Avaya, Inc., Cisco Systems, Inc., Huawei Technologies Co., Ltd., Microsoft Corporation, Mitel Corporation, NEC Corporation, Nice Systems Ltd. ., Oracle Corporation, Genesys, 8 * 8 Contact Center and SAP SE. This study includes market trends, analysis of the Contact Center Software industry, and future estimates to determine impending pockets of investment.
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