Contact Center Software Market to reach USD 165 Billion in market size by 2030, growing swiftly at a CAGR of 21%: Straits Research

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New York, United States, June 08, 2022 (GLOBE NEWSWIRE) — Organizations can now reach out to customers in different parts of the world because of globalization. However, this has increased the workload on the customer service department, which now has to maintain the entire database and resolve all concerns within the timeframe set. As a result, businesses are turning to cloud-based contact center solutions to help them centralize databases and conduct all of the operations related to call routing, recording, customer interaction, customer satisfaction, and inquiry management more efficiently.
Over the last decade, relationships between businesses and their customers have changed significantly. Customer Relationship Management (CRM) experts are currently in charge of acquiring new customers, retaining existing customers, and responding to their inquiries to promote organizational growth. Contact center solutions enable professionals to quickly fulfill these goals while also delivering adequate responses to their questions.

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Growing Demand for Automating Customer Care Services to Drive the Global Contact Center Software Market
The growing demand for automated customer care services is one of the most critical market factors for contact center software growth. Client service executives are now in charge of strengthening customer relationships to deliver long-term value to the company. As a result, they must maintain existing clients to maintain brand loyalty. As a result, businesses are turning to automation to reduce the time it takes to respond to routine customer inquiries, focusing on more complex issues and acquiring new customers.        
Artificial Intelligence (AI) and machine learning technologies are rapidly used by businesses to improve customer experience. Customers can, for example, use AI-based chatbots in conjunction with social media management tools to find answers to their problems on their own. Over the forecast period, robotic process automation (RPA) is predicted to become a fundamental element of the contact center software market.

Growing Preference for Cloud-based Contact Center Solutions to Create Umpteen Market Opportunities
As internet-based services grow, more businesses are turning to cloud-based contact centers. Cloud-based solutions allow agents to communicate from any location and access consumer information in real-time. Cloud-based contact center solutions also eliminate the need for full-time agents and workers to operate physically, allowing agents to be hired from anywhere. Companies are also drawn to cloud-based contact center services because of improved system reliability and secure offers. Contact center system providers create an active infrastructure where end-use infrastructure processing is split between two sites, increasing security.

Regional Insights
North America dominated the regional market in 2021. It is anticipated to reach USD 42,480 million by 2030, registering a CAGR of 19.2% over the forecast period. The existence of a significant number of contact center software dealers in North America has enhanced awareness of the benefits given by this software among local enterprises, resulting in widespread adoption.
By 2030, Asia-Pacific will reach USD 35,660 million at a CAGR of 26.2%. It is expected to become the fastest-growing regional market. The expansion of the Asia-Pacific contact center software market may be ascribed to rising government programs aimed at boosting digitalization and cloud usage in the enterprise sector to boost organizational productivity.
Europe holds the second-largest position in the regional market. It is estimated to grow at a CAGR of 18.6%. Germany’s healthcare spending has increased due to an aging population and the adoption of costlier treatment procedures, which bodes well for industrial growth. 

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Key Highlights

  • The global contact center software market was worth USD 29.5 billion in 2021 and is predicted to reach USD 165 billion by 2030, registering a CAGR of 21% during the forecast period (2022–2030).
  • By solutions, the global contact center software market is divided into Automatic Call Distribution, Computer Telephony Integration, Call Recording, Customer Collaboration, Dialer, Interactive Voice Response, Reporting and Analytics, Workforce Optimization, and Others. The Interactive Voice Response solution dominates the global contact center software market. It is estimated to reach a value of USD 13,965 million by 2030 at a CAGR of 16.2%.
  • By services, the global contact center software market is divided into Integration and Deployment, Support and Maintenance, Training and Consulting, and Managed Services. The Integration and Deployment service holds the largest share in the market. It is estimated to grow at a CAGR of 21.3%.
  • By deployment, the global contact center software market is divided into Hosted and On-Premise. The On-Premise mode of deployment dominates the global contact center software market. It is estimated to reach USD 62,350 million by 2030.
  • By enterprise size, the global contact center software market is divided into Large Enterprises and Small and Medium-sized Enterprises. Large Enterprise holds the most dominant market share. It is estimated to grow at a CAGR of 19.7%.
  • By end-user, the global contact center software market is divided into BFSI, Consumer Goods and Retail, Government, Healthcare, IT and Telecom, Travel and Hospitality, and Others. The IT and Telecom industry holds the largest share in the global contact center software market. It is estimated to grow at a CAGR of 18.2%.
  • Region-wise, the global contact center software market comprises North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. North America is predominant over other regions.

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Competitive Landscape
The key players in the global contact center software market are

  • 8X8 Inc
  • Amazon Web Services Inc.
  • ALE International
  • Alton
  • Ameyo
  • Amtelco
  • Aspect Software
  • Avaya Inc.
  • Avoxi,
  • Cisco Systems Inc.

Global Contact Center Software Market: Segmentation
By Solution

  • Automatic Call Distribution
  • Call Recording
  • Computer Telephony Integration
  • Customer Collaboration Dialer
  • Interactive Voice Response
  • Reporting and Analytics
  • Workforce Optimization
  • Others

 By Service

  • Integration and Deployment
  • Support and Maintenance
  • Training and Consulting
  • Managed Services

 By Deployment

  • Hosted
  • On-Premise

 By Enterprise Size

  • Large Enterprises
  • Small and Medium-Sized Enterprises

By End-User

  • BFSI
  • Consumer Goods and Retail
  • Government
  • Healthcare
  • IT and Telecom
  • Travel and Hospitality
  • Others

 By Regions

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • The Middle East and Africa

TABLE OF CONTENT
1          Introduction
1.1        Market Definition
1.2        Market Scope

2          Research Methodology
2.1        Primary Research
2.2        Research Methodology
2.3        Assumptions & Exclusions
2.4        Secondary Data Sources

3          Market Overview
3.1        Report Segmentation & Scope
3.2        Value Chain Analysis: Contact Center Software Market
3.3        Key Market Trends
3.3.1     Drivers
3.3.2     Restraints
3.3.3     Opportunities
3.4        Porter’s Five Forces Analysis
3.4.1     Bargaining Power of Suppliers
3.4.2     Bargaining Power of Buyers
3.4.3     Threat of Substitution
3.4.4     Threat of New Entrants
3.4.5     Competitive Rivalry
3.5        Market Share Analysis

4          Solution Overview
4.1        Introduction
4.1.1     Market Size & Forecast
4.2        Intelligent Virtual Assistants
4.2.1     Market Size & Forecast
4.3        Customer Collaboration
4.3.1     Market Size & Forecast
4.4        IVR
4.4.1     Market Size & Forecast
4.5        Dialers
4.5.1     Market Size & Forecast
4.6        Others
4.6.1     Market Size & Forecast

5          Deployment Overview
5.1        Introduction
5.1.1     Market Size & Forecast
5.2        On Premise
5.2.1     Market Size & Forecast
5.3        Cloud
5.3.1     Market Size & Forecast

6          Industry Vertical Overview
6.1        Introduction
6.1.1     Market Size & Forecast
6.2        SMEs
6.2.1     Market Size & Forecast
6.3        Large Enterprises
6.3.1     Market Size & Forecast

7          Industry Vertical Overview
7.1        Introduction
7.1.1     Market Size & Forecast
7.2        BFSI
7.2.1     Market Size & Forecast
7.3        Consumer Goods & Retail
7.3.1     Market Size & Forecast
7.4        Government
7.4.1     Market Size & Forecast
7.5        IT & Telecom
7.5.1     Market Size & Forecast
7.6        Travel and Hospitality
7.6.1     Market Size & Forecast
7.7        Others
7.7.1     Market Size & Forecast

8          Regional Overview
8.1        Introduction
8.1.1     Market Size & Forecast
8.2        North America
8.2.1     Market Size & Forecast
8.2.2      U.S.
8.2.2.1 By Solution
8.2.2.2 By Industry Vertical
8.2.3      Canada
8.2.3.1 By Solution
8.2.3.2 By Industry Vertical
8.2.4      Mexico
8.2.4.1 By Solution
8.2.4.2 By Industry Vertical
8.3        Europe
8.3.1     Market Size & Forecast
8.3.2     Germany
8.3.2.1 By Solution
8.3.2.2 By Industry Vertical
8.3.3     France
8.3.3.1 By Solution
8.3.3.2 By Industry Vertical
8.3.4     U.K.
8.3.4.1 By Solution
8.3.4.2 By Industry Vertical
8.3.5     Italy
8.3.5.1 By Solution
8.3.5.2 By Industry Vertical
8.3.6     Spain
8.3.6.1 By Solution
8.3.6.2 By Industry Vertical
8.3.7     Rest of Europe
8.3.7.1 By Solution
8.3.7.2 By Industry Vertical
8.4        Asia Pacific
8.4.1     Market Size & Forecast
8.4.2     Japan
8.4.2.1 By Solution
8.4.2.2 By Industry Vertical
8.4.3     China
8.4.3.1 By Solution
8.4.3.2 By Industry Vertical
8.4.4     Australia
8.4.4.1 By Solution
8.4.4.2 By Industry Vertical
8.4.5     India
8.4.5.1 By Solution
8.4.5.2 By Industry Vertical
8.4.6     South Korea
8.4.6.1 By Solution
8.4.6.2 By Industry Vertical
8.4.7     Rest of Asia-Pacific
8.4.7.1 By Solution
8.4.7.2 By Industry Vertical

8.5        LAMEA
8.5.1     Market Size & Forecast
8.5.2     Saudi Arabia
8.5.2.1 By Solution
8.5.2.2 By Industry Vertical
8.5.3     South Africa
8.5.3.1 By Solution
8.5.3.2 By Industry Vertical
8.5.4     Brazil
8.5.4.1 By Solution
8.5.4.2 By Industry Vertical
8.5.5     Rest of LAMEA
8.5.5.1 By Solution
8.5.5.2 By Industry Vertical

9          Company Profile
9.1        Alcatel-Lucent Enterprise
9.1.1     Company Overview
9.1.2     Financial Performance
9.1.3     Recent Developments
9.1.4     Product Portfolio
9.2        Cisco Systems
9.2.1     Company Overview
9.2.2     Financial Performance
9.2.3     Recent Developments
9.2.4     Product Portfolio
9.3        Avaya Inc.
9.3.1     Company Overview
9.3.2     Financial Performance
9.3.3     Recent Developments
9.3.4     Product Portfolio
9.4        Huawei Technologies Co., Ltd.
9.4.1     Company Overview
9.4.2     Financial Performance
9.4.3     Recent Developments
9.4.4     Product Portfolio
9.5        Mitel Networks Corporation
9.5.1     Company Overview
9.5.2     Financial Performance
9.5.3     Recent Developments
9.5.4     Product Portfolio
9.6        Oracle Corporation
9.6.1     Company Overview
9.6.2     Financial Performance
9.6.3     Recent Developments
9.6.4     Product Portfolio
9.7        SAP SE
9.7.1     Company Overview
9.7.2     Financial Performance
9.7.3     Recent Developments
9.7.4     Product Portfolio
9.8        Unify, Inc.
9.8.1     Company Overview
9.8.2     Financial Performance
9.8.3     Recent Developments
9.8.4     Solution Portfolio
9.9        IBM Corporation
9.9.1     Company Overview
9.9.2     Financial Performance
9.9.3     Recent Developments
9.9.4     Product Portfolio
9.10      Enghouse Interactive Inc.
9.10.1   Company Overview
9.10.2   Financial Performance
9.10.3   Recent Developments
9.10.4   Product Portfolio

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Market News

  • In May 2022, Alcatel-Lucent Enterprise, a leading provider of industry-specific network, communications, and cloud solutions, is putting AI (Artificial Intelligence) and ML (Machine Learning) at the center of its technology development. ALE’s upgraded OmniAccess® Stellar Asset Tracking solution includes new customizable push-button warnings and an AI/ML-based real-time location algorithm for environments requiring greater accuracy beyond specific tools.
  • In May 2022, Cisco announced the Cisco Cloud Controls Framework (CCF) to the public. The Cisco CCF is a comprehensive set of foreign and national security compliance and certification that needs to be aggregated into one framework. It empowers teams to ensure cloud products and services meet security and privacy needs thanks to a simplified rationalized compliance and risk management strategy, saving significant resources.

News Media

Growing Investments in New Digital Technologies to Positively Influence the Contact Center Software Market
The Enterprise Mobility Management Industry is Being Propelled Ahead By an Increase in the Amount of Data and Mobile Devices Being Used in Enterprises

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