Market Research Report
Global Contact Center Software Market - Segmented by Type, Organization Size, Deployment, Service, End-user Industry and Region - Growth, Trends, and Forecast (2018 - 2023)
|Published by||Mordor Intelligence LLP||Product code||704901|
|Published||Content info||99 Pages
Delivery time: 1-2 business days
|Global Contact Center Software Market - Segmented by Type, Organization Size, Deployment, Service, End-user Industry and Region - Growth, Trends, and Forecast (2018 - 2023)|
|Published: August 18, 2018||Content info: 99 Pages||
The contact center software Market was valued at USD 15.92 billion in 2017, and is expected to reach USD 35.77 billion by 2023, recording a CAGR of 14.45%, during the forecast period. The report profiles the on-cloud and on-premise providers of contact center software and service, for various industries.
The contact center software market has been gaining traction in the recent past, the growth of which is primarily fueled by transforming focus of businesses toward enhancing customer experience. There exists intense competition in every industry vertical, due to robust adoption of technologies and rising prominence of trends, like omni-channel interfaces. The ready availability of information via various technological interfaces has enabled customers to compare the services and identify the best-suited options. This has forced the industry players to offer the best solutions at competitive costs. The adoption of cloud-based products and services by businesses for their operations, has further accelerated the demand for the contact center software market. These software enable the integration of information from multiple sources and applications. This, in turn, enhances the customer experience and restricts the customer churn.
Education Segment Projected to be Lucrative
The organizations in the education sector have leveraged contact center solutions, to overcome various challenges. One of the universities operated two legacy contact centers, out of which, the first one was an IT service center that received 300 calls per week at an average, whereas, the second one was a solutions center and received an average of 1,200 calls per week. The functionalities were limited and the user experience was hampered and poor in performance. It was difficult for the agents to deliver the desired level of service. One of the most vital shortcomings was the missing caller ID and the lack of an accurate and live dashboard. The university decided to upgrade its contact center, to overcome restrictions related to scaling up operations. It then deployed an interactive communication center and a quality management suite. Its staff easily adopted to the new platform.
Similarly, other organizations in the education segment have adapted themselves to the cloud environment. Even universities have been using complex networks in their campuses, to involve thousands of students and faculty members, thus creating an immense scope for the contact center software platforms, which can leverage various features, such as interface integration, workforce management, and scalability.
North America Expected to Account for the Largest Contact Center Software Market Share
North America is estimated to hold an immense potential for growth of the contact center software market, as the regional organizations are considered be the most customer-centric. The region leads most of the customer experience sections, as published by IBM Corporation, and ranks above the average index, for rest of the sections. About 64% North American citizens contact customer service, which indicates that the majority of consumers place faith in customer care. The share of customers leaving without complaining is more than 90%. This indicates the importance of customer experience to organizations. Another factor which could affect the customer experience in the region is the increase of complaints via mobile, as over 74% of the complaints are over the phone.
Key Developments in the Market
May 2018: Five9 Inc. released Five9 Spring Release 2018, which is a practical AI for the contact center and portfolio-wide enhancements.
April 2018: Mitel LLC launched a new communication and collaboration application, for small businesses.
December 2017: Enghouse Interactive Inc. released TouchPoint Agent for Microsoft Office 365 and also offered a free 30-day trial.
Major Players: ENGHOUSE INTERACTIVE INC., CISCO SYSTEMS INC., UNIFY INC., FIVE9 INC., GENESYS TELECOMMUNICATIONS LABORATORIES INC., ORACLE CORPORATION, SAP SE, MITEL LLC, AVAYA INC., NEC ENTERPRISE SOLUTIONS, ZTE CORPORATION, VOCALCOM SA, and ASPECT SOFTWARE INC., among others.
Reasons to Purchase The Report
To understand the impact of contact center software, in the education sector
An analysis of various perspectives of the market, with the help of Porter's five forces analysis
The segments that are expected to dominate the market
Regional analysis of the market, during the forecast period
Latest developments, market shares, and strategies employed by the major market players and key innovators
3 months analyst support along with the Market Estimate sheet (in Excel)
Customization of The Report
This report can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
(List Not Exhaustive)