Artificial Intelligence
Contact Center Market Surges to USD 92.54 Billion by 2030, Propelled by 14.75% CAGR – Verified Market Reports®
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The contact center market is experiencing growing demand driven by the increasing need for enhanced customer service and support across various industries. As businesses prioritize customer experience, the adoption of advanced contact center solutions, including AI-driven technologies and cloud-based platforms, is on the rise. However, market growth is restrained by high implementation costs and the complexity of integrating these new systems with existing infrastructure. Additionally, concerns over data security and privacy pose significant challenges, limiting the widespread adoption of contact center technologies.
LEWES, Del., Aug. 21, 2024 /PRNewswire/ — The Global Contact Center Market is projected to grow at a CAGR of 14.75% from 2024 to 2030, according to a new report published by Verified Market Reports®. The report reveals that the market was valued at USD 34.67 Billion in 2023 and is expected to reach USD 92.54 Billion by the end of the forecast period.
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Browse in-depth TOC on Contact Center Market
202 – Pages126 – Tables37 – Figures
Scope of The Report
REPORT ATTRIBUTES
DETAILS
STUDY PERIOD
2021-2030
BASE YEAR
2023
FORECAST PERIOD
2024-2030
HISTORICAL PERIOD
2021-2022
UNIT
Value (USD Billion)
KEY COMPANIES PROFILED
Teleperformance, Convergys (Stream), Sykes Enterprises Inc., Transcom, Atento, Arvato, West Corporation, Acticall (Sitel), TeleTech Holdings Inc., Comdata Group, Serco, Concentrix
SEGMENTS COVERED
By Type, By Application, By Geography.
CUSTOMIZATION SCOPE
Free report customization (equivalent to up to 4 analyst working days) with purchase. Addition or alteration to country, regional & segment scope
Global Contact Center Market Overview
Market Drivers Fueling Growth in the Contact Center Market
Advancements in AI and Automation Technologies: The integration of artificial intelligence (AI) and automation in contact centers is transforming customer service operations. AI-powered chatbots and virtual assistants are streamlining interactions, reducing response times, and improving customer satisfaction. Automation tools are enabling contact centers to handle large volumes of queries efficiently, minimizing the need for human intervention. This trend is driving cost efficiencies and enabling businesses to scale their customer support operations without compromising quality.
Rising Demand for Omnichannel Communication: Customers today expect seamless communication across multiple channels, including voice, email, chat, social media, and SMS. Contact centers are increasingly adopting omnichannel strategies to provide a consistent customer experience. This demand for omnichannel communication is fueling investment in integrated platforms that allow agents to manage interactions across all channels from a single interface. The ability to offer personalized and context-aware support across different channels is becoming a key differentiator in the competitive contact center market.
Increased Focus on Customer Experience and Personalization: As customer experience becomes a top priority for businesses, contact centers are evolving to meet higher expectations for personalized service. Companies are leveraging customer data and analytics to offer tailored interactions and proactive support. The emphasis on customer-centric strategies is leading to the development of sophisticated tools that enable agents to anticipate customer needs and resolve issues more effectively. This shift towards enhancing customer satisfaction and loyalty is a significant driver of growth in the contact center market.
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Market Restraints Limiting Expansion in the Contact Center Market
High Implementation and Maintenance Costs: Implementing advanced technologies in contact centers, such as AI, automation, and omnichannel platforms, requires significant investment. The costs associated with integrating these solutions, along with ongoing maintenance and upgrades, can be prohibitive for small and mid-sized enterprises. Additionally, the need for skilled IT personnel to manage these systems further increases operational expenses. These financial barriers can limit the adoption of cutting-edge technologies, slowing the overall expansion of the contact center market.
Data Privacy and Security Concerns: The increasing reliance on digital channels and data-driven operations in contact centers raises significant privacy and security challenges. Protecting sensitive customer information from breaches and unauthorized access is a critical concern. Regulatory requirements, such as GDPR and CCPA, add layers of complexity to compliance efforts, making it difficult for companies to navigate the legal landscape. These concerns can deter businesses from fully embracing advanced contact center technologies, thereby constraining market growth.
Challenges in Workforce Management and Training: As contact centers adopt new technologies, there is a growing need for a workforce that can effectively operate and manage these tools. However, training employees to use sophisticated systems and adapting to rapidly changing technologies can be challenging. High turnover rates in the industry further complicate workforce management, leading to gaps in service quality. The struggle to maintain a well-trained, stable workforce can hinder the ability of contact centers to fully realize the potential of new innovations, limiting market expansion.
Geographic Dominance
The global contact center market has seen significant growth, driven primarily by advancements in communication technology and the increasing need for customer support across various industries. North America leads the market due to the high adoption of cloud-based solutions and the presence of major industry players. Europe follows closely, supported by strong economic regions like Germany and the UK, where businesses prioritize customer experience. Asia-Pacific is rapidly emerging as a key player, particularly with countries like India and the Philippines becoming outsourcing hubs. Latin America and the Middle East & Africa are also witnessing growth, albeit at a slower pace, driven by expanding businesses and improving infrastructure. Overall, geographic dominance in the contact center market is shaped by regional technological adoption, economic conditions, and outsourcing trends.
Contact Center Market Key Players Shaping the Future
Major players, including Teleperformance, Convergys (Stream), Sykes Enterprises Inc., Transcom, Atento, Arvato, West Corporation, Acticall (Sitel), TeleTech Holdings Inc., Comdata Group, Serco, Concentrix and more, play a pivotal role in shaping the future of the Contact Center Market. Financial statements, product benchmarking, and SWOT analysis provide valuable insights into the industry’s key players.
Contact Center Market Segment Analysis
Based on the research, Verified Market Reports® has segmented the global Contact Center Market into Type, Application and Geography.
Contact Center Market, By Type24 hoursOnline ServiceContact Center Market, By ApplicationTelecommunicationBankingFinancial Services and Insurance (BFSI)Government and Public SectorHealthcare and Life SciencesRetail and Consumer GoodsContact Center Market, By GeographyNorth AmericaU.SCanadaMexicoEuropeGermanyFranceU.KRest of EuropeAsia PacificChinaJapanIndiaRest of Asia PacificROWMiddle East & AfricaLatin AmericaBrowse Related Reports:
Global Contact Center Infrastructure Software Market By Type (On-Premises, Cloud Based), By Application (Large Enterprised, SMEs), By Geographic Scope And Forecast
Global Contact Center Operations Software Market By Type (Onshore Outsourcing, Offshore Outsourcing), By Application (Telecom & IT, BFSI), By Geographic Scope And Forecast
Global Contact Center Outsourcing Market By Type (Email Support, Chat Support), By Application (BFSI, Retail), By Geographic Scope And Forecast
Global Contact Centers Speech Applications Market By Type (Software, Service), By Application (Public Service, E-commerce), By Geographic Scope And Forecast
Enhancing Customer Experience: Top Contact Center Quality Assurance Software Trends
About Us
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Artificial Intelligence
Geotab, Kia, and 42dot Join Forces to Drive the Future of Fleet Management
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Global Partnership to Improve Safety, Sustainability, and Efficiency in PBV Fleet Operations
TORONTO and SEOUL, South Korea, Sept. 12, 2024 /PRNewswire/ — Geotab Inc. (Geotab), Kia Corporation (Kia), and 42dot have signed a Memorandum of Understanding (MOU), initiating a global connected vehicle partnership. This strategic collaboration will integrate advanced data solutions with enhanced in-vehicle technology to deliver innovative systems that support safety, sustainability, and efficiency for fleets worldwide.
This partnership builds upon Kia’s PBV business strategy – to offer software solutions seamlessly integrated with the vehicle, with FMS (Fleet Management System) as the core differentiating factor. Geotab and 42dot, Hyundai Motor Group’s Global Software Center and fleet management system (FMS) provider, will collaborate to develop an AI-driven FMS, enabling Kia fleet customers to utilize advanced data insights.
Louis De Jong, Chief Revenue Officer at Geotab, stated, “by integrating our data insights and AI capabilities with Kia’s automotive technology and 42dots’s data expertise, customers will receive enhanced value for their operations including access to quality data insights that drive improved cost management, safety and sustainability. This exciting collaboration is advancing the connected mobility industry, ensuring fleets are well equipped to navigate today’s challenges and tomorrow’s opportunities.”
The partnership will also include developing an in-vehicle application leveraging the MyGeotab platform and Kia’s PBV In-Vehicle Display App Store. This will enhance the fleet’s operations through route optimization as well as improve safety.
Sangdae Kim, Senior Vice President and Head of the PBV Business Division at Kia Corporation, said:”Kia is partnering with Geotab and 42dot because this collaboration is essential to the strategic growth of Kia’s PBV business. Together, Kia aims to offer the best-in-class fleet management solutions that not only optimizes fleet operations but also lay the foundation for PBV software capabilities. As we launch our first PBV next year, Kia will provide a total mobility solution including both connect-ready vehicles and FMS solutions to fleet customers for greater operational efficiency and safety.”
Sangseok Lim, head of AEV Platform Engineering Division at 42dot, added: “By combining 42dot’s vehicle data platform and intelligent fleet safety technology – based on autonomous driving and software-defined vehicles – we are creating an advanced FMS designed to meet both the current and future demands of fleet operators, ensuring their long-term success.”
Geotab will also collaborate with Kia as an OEM-Geotab Cloud-to-Cloud data provider. This will enable customers to leverage OEM-embedded data without the need to install a separate device and prepare for the launch of Kia’s PBV lineup, the PV5 and PV7 models. Europe will be the first region to benefit from the collaboration, where a co-branded FMS platform will be offered with the launch of Kia’s first PBV models next year.
For more information about this partnership between Geotab, Kia, and 42dot, please visit https://www.geotab.com/partners/overview/
About Kia Corporation
Kia (www.kia.com) is a global mobility brand with a vision to create sustainable mobility solutions for consumers, communities, and societies around the world. Founded in 1944, Kia has been providing mobility solutions for more than 75 years. With 52,000 employees worldwide, a presence in more than 190 markets, and manufacturing facilities in six countries, the company today sells around three million vehicles a year. Kia is spearheading the popularization of electrified and battery electric vehicles and developing a growing range of mobility services, encouraging millions of people around the world to explore the best ways of getting around. The company’s brand slogan – ‘Movement that inspires’ – reflects Kia’s commitment to inspire consumers through its products and services.
For more information, visit the Kia Global Media Center at www.kianewscenter.com
About 42dot
42dot is a Mobility AI company leading Hyundai Motor Group’s development of software-defined vehicles. 42dot leads the transition to focus on software and AI development, creating software-defined vehicles that deliver the latest updates for safe and user-centric mobility. 42dot also develops technologies for self-managed smart cities, where SDV technologies extend beyond vehicles into the urban environment. With SDV technology, vehicles and infrastructure can interact to share information in real-time, addressing mobility challenges. These technologies not only enable us to monitor and manage fleets but also to efficiently manage the movement of cities.
Website 42dot.ai
Linkedin linkedin.com/company/42dot
About Geotab
Geotab, the global leader in connected vehicle and asset solutions, leverages advanced data analytics and AI to enhance fleet performance, safety, and sustainability while optimizing costs. Backed by a team of industry leading data scientists, engineers and AI experts, we serve over 50,000 customers across 160 countries, processing billions of data points hourly from more than 4 million vehicles. Data security and privacy are at the forefront of all we do—trusted by Fortune 500 organizations and some of the largest public sector fleets in the world, we meet top cybersecurity standards. Geotab’s open platform and diverse Geotab Marketplace offers hundreds of fleet-ready third-party solutions. Learn more at www.geotab.com and follow us on LinkedIn or visit Geotab News and Views.
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Artificial Intelligence
Quickplay Partners with TelevisaUnivision to Enhance its Univision NOW App with New Capabilities
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Quickplay integrates its Video CMS capabilities to provide an end-to-end solution.
TORONTO, Sept. 12, 2024 /PRNewswire/ — Quickplay today announced a new partnership with TelevisaUnivision for its end-to-end cloud-native platform to enhance the company’s Univision NOW App.
In today’s highly competitive marketplace, streaming services must continuously find ways to attract new subscribers while nurturing loyalty from existing ones. To this end, Quickplay enables the creation of cohorts based on trends in content usage, location and device, providing opportunities for personalized content recommendations and relevant advertising. These solutions aim to attract new viewers and continue to foster consumer loyalty.
Quickplay offers personalized and flexible content curation capabilities, including targeted ad-insertion for live-linear, FAST channels, VOD content and downloads. Quickplay will provide video platform services to power Univision NOW, the over-the-top subscription video service launched in 2015, which features content from Univision and UniMás. The service was designed as a standalone offering that did not require a pay TV subscription to access.
“Univision is the leading Spanish-language network in the U.S., which is why we’re thrilled to partner with the TelevisaUnivision team as the new provider to ensure loyal viewers have an exceptional and personalized experience across Univision NOW, enabled by our suite of capabilities,” said Paul Pastor, Chief Business Officer of Quickplay.
Want to learn more? Come meet the Quickplay team at IBC 2024 in Stand 5.H61 from September 13th -16th. Meetings can be booked at [email protected].
About Quickplay:Quickplay is leading cloud transformations of OTT and in-home experiences for pay-TV, telcos, and MVPDs. The company’s cloud-native platform leverages a transformative open architecture for unparalleled performance in delivering premium video, handling complex use cases, and scaling to millions of viewers. Founded by a team that has built and operated dozens of Tier 1 OTT services worldwide, Quickplay is powering immersive sports, live experiences, and personalized entertainment on any screen. The company is headquartered in Toronto and has additional locations in Los Angeles, San Diego, Chennai, India, and Europe. Quickplay is a two-time winner of the Google Cloud Industry Solution Partner of the Year Award for Media & Entertainment. For more information, visit https://quickplay.com/.
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Artificial Intelligence
Atento Reaffirms Leadership in Frost & Sullivan’s Ranking as a Leader in CX Management in 2024
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The company excels in the innovation and growth matrices by offering CX transformation solutions and demonstrating its innovation capabilities.MADRID, Sept. 12, 2024 /PRNewswire/ — Atento Luxco 1 (“Atento” or the “Company”), one of the world’s largest providers of customer relationship management and business transformation outsourcing (CRM/BTO) services and an industry leader in Latin America, has once again been recognized by Frost & Sullivan as a Leader in the 2024 Frost Radar™ for Customer Experience Management in Latin America.
This recognition highlights not only Atento’s ability to innovate, but also its comprehensive focus on digital transformation and the implementation of advanced technologies, such as generative artificial intelligence (GenAI), that not only improve the customer experience, but also optimize operational costs for its customers.
With more than 200 competitors in the region, Atento has positioned itself as a leader for the third consecutive year, demonstrating a unique ability to combine cutting-edge technology with a customer-centric approach.
Boosting Innovation: AI Center of Excellence and AtentoNext
The CX market in Latin America is at a pivotal moment. Companies are looking for strategic allies capable of implementing technological solutions that improve the efficiency and quality of customer service.
In 2023, Atento launched its Artificial Intelligence Center of Excellence (AI CoE), centralizing the development of a GenAI product portfolio. Backed by a global AI committee and strict security and privacy policies, this center ensures the secure integration of artificial intelligence into the transformation of the customer experience. In addition, Atento is the only company on Frost’s radar that has a start-up accelerator: Atento Next.
AI-based technology at the service of talent and the customer
Atento has implemented a GenAI-based tool for recruitment that simulates different candidate profiles and assesses key skills, such as empathy, resolution skills, and objection management. With this tool, the company ensures that the right talent is incorporated into the team, optimizing recruitment processes and reducing associated costs.
In addition, Atento has developed a predictive model of staff turnover, based on AI, which analyzes the probability of an employee leaving the company. This solution allows Atento to customize its approach to each agent, increasing their well-being, engagement, and productivity, while reducing turnover rates.
Likewise, with Atento AI Studio, a proprietary Artificial Intelligence platform, Atento elevates the customer experience and transforms the operational efficiency of companies, within an ethical, secure and private framework. Within the Company’s comprehensive ecosystem of AI solutions and capabilities, Atento AI Studio is positioned as a fundamental piece to optimize customer CX.
Strategic Perspective and Growth Opportunities
Frost & Sullivan highlights that Atento is in a privileged position and has consolidated its position as a trusted advisor in customer experience management (CXM). The company’s ability to integrate GenAI and adjacent technologies allows companies to implement solutions that in addition to significantly improving service quality, optimize costs.
“As it intensifies the use of GenAI and adjacent technologies, Atento helps companies securely and strategically implement the right tools to reduce costs and increase quality of service, cementing Atento as a trusted partner for its customers in the customer experience management (CXM) sector.” Sebastian Menutti affirms, Frost Radar Research Director. “But CXM services are not a technology-only game, and Atento has found the right mix of people, processes and technology.”
The report highlights Atento’s strategy to diversify its customer portfolio, attracting both new customers and expanding its relationship with existing ones, especially in sectors such as technology; travel and hospitality; retail and electronics; banking, financial services and insurance; media and entertainment; and health.
With the consolidation of the CXM industry, Frost & Sullivan forecasts a wide range of growth opportunities in the short to medium term for Atento, as various organizations look to bring in new BPO providers. This puts Atento in an advantageous position to capture new opportunities in an ever-evolving market.
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Frost & Sullivan is not responsible for any incorrect information provided by companies or users. Quantitative market information is primarily based on interviews and is therefore subject to fluctuations. Frost & Sullivan’s research services are limited publications that contain valuable market information provided to a select group of clients. Customers acknowledge, by placing orders or downloads, that Frost & Sullivan’s research services are for internal use and not for general publication or disclosure to third parties. No part of this research service may be given, loaned, resold, or disclosed to unaccustomed persons without written permission. In addition, no part may be reproduced, stored in a retrieval system, or transmitted in any form or by any means—electronic, mechanical, photocopying, recording, or otherwise—without the permission of the publisher.
About Atento
Atento is the largest provider of customer relationship management and business process outsourcing (“CRM BTO”) services in Latin America and one of the leading providers worldwide. Atento is also one of the leading providers of BTO nearshoring CRM services for companies operating in the United States. Since 1999, the Company has developed its business model in 17 countries, employing approximately 110,000 people. Atento, which serves more than 400 customers, offers a wide range of CRM BTO services through multiple channels. The majority of Atento’s clients are leading multinational companies in the telecommunications, banking and financial services, healthcare, retail and government sectors. In recent years, the company has been recognized for its excellence by several global industry analysts, including Everest, Gartner, Frost & Sullivan and ISG. Forbes recognized Atento as one of the 100 best companies to work for in Spain in 2023, while Great Place to Work® has continuously ranked us as one of the 25 best companies to work for worldwide. We have also been recognized as the 1st company in the sector worldwide to achieve the ISO 56002 Innovation Management Certification, which we have maintained for four consecutive years. For more information, visit www.atento.com
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