Market Research Report
2020 Contact Center Workforce Optimization Market Share Report
|Published by||DMG Consulting LLC||Product code||941786|
Delivery time: 1-2 business days
|2020 Contact Center Workforce Optimization Market Share Report|
|Published: June 11, 2020||Content info:||
DMG Consulting LLC's ‘17th annual Contact Center Workforce Optimization (WFO) Market Share Report ’analyzes revenue and market share for the approximately 38 worldwide WFO suite vendors in fiscal 2019. It provides detailed coverage of WFO market activity, including a close examination of the vendors' performance and 5-year trends for this vital technology sector.
The contact center suite market showed healthy growth in 2019. Total company GAAP revenue increased 6.3%, from $3,609.8 million in 2018 to $3,838.6 million in 2019. The contact center WFO segment, in particular, saw strong results in 2019. Contact center WFO revenue grew from $1,855.2 million in 2018 to $2,069.8 million in 2019, an increase of $214.6 million or 11.6%. The contact center WFO segment hit a significant milestone in 2019, when this mature IT sector exceeded $2 billion in revenue for the first time.
2020 started off strong, looking to be the best year ever for spending on contact center technology. And then the coronavirus pandemic hit. It's too early to determine the long-term impact of the pandemic on IT sectors, including WFO. But we've already seen that a few contact center and WFO applications have proven to be particularly useful in supporting contact centers through the COVID-19 crisis, making notable contributions to organizations' service needs during these challenging times.
Among the systems that have proven their high value during these times of adversity are contact-center-as-a-service (CCaaS) solutions and speech analytics. Having a CCaaS solution in place has enabled companies to transition their staff to work at home (WAH) more rapidly and securely than businesses that rely on premise-based contact center infrastructure solutions (automatic call distributors (ACDs) and dialers). CCaaS solutions are well-suited to the needs of the WAH workforce because they do not care where interactions are delivered, on or off-premise, and they come with layers of security.
Speech analytics has also demonstrated its agility in helping contact centers respond to customers during these trying times. It enables contact center managers to identify the reasons why customers are calling, and it then uses that information to rapidly update the department's knowledge bases, agents and self-service applications. This valuable activity can be enhanced by using a new generation of self-service solutions, referred to as intelligent virtual agents (IVAs).
The pandemic has forced many contact centers to send their employees home to work in safety. This transition was easier for some companies than others, but in general, it took place more cleanly than anticipated. This is a positive outcome of the coronavirus crisis, in that contact centers proved their flexibility and agility, setting the stage for future cultural, operational and technical changes. When the "new normal" sets in post-pandemic, companies should use their experiences in adapting to the crisis as an impetus for change and place a stronger focus on achieving a digital transformation.
Artificial intelligence (AI), analytics and automation will be instrumental in the future of contact center applications. AI and machine learning (ML) capabilities are already being applied to many components of WFO suites, including interaction (speech and text) analytics, analytics-enabled quality management, workforce management, knowledge management, and others. As contact centers strive to establish a "new normal" as the pandemic recedes, these three technology categories will help lead the way.
‘The 2020 Contact Center Workforce Optimization Market Share Report’ provides a detailed breakdown and analysis of revenue for the following 21 named vendors: 8x8, ASC, Aspect, Avaya, Calabrio, ComputerTel, CSI/Virtual Observer, DVSAnalytics, Enghouse, Envision, Genesys, HigherGround, Mitel, NICE, OnviSource, OpenText, Serenova, Verint, VirtualLogger, Xarios, and ZOOM International. (Revenue for Avaya is included at a high level, but not in the detailed analyses.)