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Global Contact Center Software Market Size, Industry Analysis By Segmentations, Top Key Players, Trends, Future Development & Forecast 2024-2035

  • PUBLISHED ON
  • 2/24/2023
  • NO OF PAGES
  • 222
  • CATEGORY
  • Information Technology

Market Overview:

The global Contact Center Software Market size was valued at USD 35.56 billion in 2022, and is projected to reach USD 103.57 billion by 2032 at a CAGR of 20.5% from 2022 to 2032.

Contact center software is a suite of tools and applications that help businesses manage their customer interactions and communications through various channels such as phone, email, social media, and live chat. Contact center software enables businesses to provide exceptional customer service and support by streamlining their customer interactions and improving their overall experience.

One of the most significant trends in the contact center software market is the adoption of cloud-based solutions. Cloud-based solutions offer several benefits, including scalability, flexibility, and cost-effectiveness, making them an attractive option for businesses of all sizes. Another major trend in the contact center software market is the adoption of omnichannel communication. Omnichannel communication allows customers to interact with businesses through multiple channels seamlessly, including phone, email, social media, and live chat. The use of artificial intelligence (AI) in contact center software is another significant trend. AI-powered solutions can help automate routine tasks, improve customer interactions, and provide personalized recommendations and solutions to customers. Integration with customer relationship management (CRM) systems is becoming increasingly important in the contact center software market. Integrating contact center software with CRM systems can help businesses gain valuable insights into their customer interactions and improve their overall customer experience.

Growing needs for omnichannel communication is propelling the market growth.

One of the key driving factors of the contact center software market is the increasing demand for omnichannel communication. Omnichannel communication refers to the ability to communicate with customers across multiple channels, such as email, social media, chat, and voice. This approach ensures that customers can reach businesses using their preferred communication method and receive consistent and personalized service across all channels. The rise of omnichannel communication is driven by changing consumer expectations. Today’s customers expect to be able to communicate with businesses through multiple channels and receive immediate responses. They also expect businesses to remember their previous interactions and provide personalized service based on their individual preferences and needs. To meet these expectations, businesses are increasingly investing in contact center software solutions that offer omnichannel communication capabilities. These solutions typically include features such as automated routing of customer inquiries to the appropriate agent, real-time monitoring of customer interactions across multiple channels, and integration with customer relationship management (CRM) systems to provide agents with a complete view of customer history. In addition to meeting customer expectations, businesses are also adopting omnichannel communication as a way to improve their own operational efficiency. By consolidating customer interactions across multiple channels into a single platform, businesses can reduce the amount of time and resources required to manage customer communications.

Segmentation:

By Deployment type

·         On-premise

·         Cloud-based

·         Hybrid

By Component

·         Solution

·         Services

By Organization Size

·         Small and Medium-sized Enterprises (SMEs)

·         Large Enterprises

By End-user

·         BFSI

·         Government

·         Healthcare

·         IT & Telecom

·         Retail

·         Others

By Functionality

·         Automatic call distribution (ACD)

·         Call recording

·         Chatbots

·         Interactive voice response (IVR)

·         Omnichannel Routing

·         Workforce Optimization

·         Analytics & Reporting

·         Others

Geography:

According to various reports and studies, North America currently dominates the Contact Center Software market. This is due to the presence of large and established companies in the region, as well as the early adoption of advanced technologies such as cloud computing and artificial intelligence in the contact center industry. The Asia-Pacific region is expected to experience significant growth in the coming years, driven by factors such as increasing demand for customer engagement solutions, growing customer expectations, and a rising number of contact centers in the region. Other regions such as Europe and Latin America are also expected to see steady growth in the Contact Center Software market. However, the specific dominance of any region may vary depending on the criteria used for segmentation and the specific timeframe considered.

Impact of COVID-19 on the global Contact Center Software Market:

The COVID-19 pandemic has had a significant impact on the Contact Center Software market. As a result of social distancing measures and the shift to remote work, there has been an increased demand for cloud-based contact center solutions that can be accessed remotely. This has led to an increased adoption of cloud-based contact center solutions and other remote customer engagement tools. The pandemic has caused significant changes in customer behavior, with many customers now preferring to engage with companies through digital channels such as chatbots, messaging apps, and social media. This has led to an increased demand for omnichannel contact center solutions that can provide a seamless and consistent customer experience across multiple channels. The pandemic has caused significant disruptions to workforce management in the contact center industry, with many companies struggling to manage remote teams and maintain productivity. This has led to an increased demand for workforce optimization tools that can help companies manage and optimize their remote workforce.

Impact of the Russia-Ukraine War on the global Contact Center Software Market:

The ongoing Russia-Ukraine war has the potential to impact the Contact Center Software market in several ways:

·         Disruptions to supply chains: If the conflict leads to disruptions in supply chains, it could impact the availability of hardware and other components needed for contact center solutions, which could lead to delays and increased costs.

·         Economic instability: The conflict could lead to economic instability in the region, which could impact the growth of the Contact Center Software market. Companies may be more cautious in their spending, and may delay or cancel investments in new contact center solutions.

·         Increased demand for remote solutions: If the conflict leads to social distancing measures or other restrictions on travel, it could increase the demand for remote contact center solutions that can be accessed from anywhere. This could benefit companies that offer cloud-based or other remote solutions.

·         Changes in customer behavior: The conflict could lead to changes in customer behavior, as people may become more cautious or anxious about engaging with companies based in the conflict zone. This could lead to a shift in demand towards companies based outside the region or towards more automated or self-service solutions.

Company Profiles:

·         Avaya

·         Cisco Systems

·         Five9

·         Genesys

·         Nice inContact

·         Mitel

·         RingCentral

·         Serenova

·         Talkdesk

·         Twilio

·         Verint Systems

·         Zendesk

·         8x8 Inc.

·         Aspect Software

·         Bright Pattern.

Global Contact Center Software Market: Regional Analysis
The countries covered in the regional analysis of the Global Contact Center Software market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.

Key Benefits:
• The analysis provides an overview of the factors driving and limiting the growth of the market including trends, structure and others.
• Market estimation for type and geographic segments is derived from the current market scenario and expected market trends.
• Porter’s Five Force Model and SWOT analysis are used to study the global Contact Center Software market and would help stakeholders make strategic decisions.
• The analysis assists in understanding the strategies adopted by the companies for the growth of this market.
• In-depth analysis of the types of Contact Center Software would help in identifying future applications in this market.

Reasons to Purchase this Report:
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
• 6-month post-sales analyst support

Objectives of the Study:
• To provide with an exhaustive analysis on the Contact Center Software Market by Product, By Application, By End User and by Region.
• To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
• To evaluate and forecast micro-markets and the overall market
• To predict the market size, in key regions— North America, Europe, Asia Pacific, Latin America and Middle East and Africa.
• To record and evaluate competitive landscape mapping- product launches, technological advancements, mergers and expansions
Base Year: 2023
Historic Year: 2016-2022
Forecast: 2024-2035


1 Contact Center Software Introduction and Market Overview
1.1 Objectives of the Study
1.2 Overview of Contact Center Software
1.3 Contact Center Software Market Scope and Market Size Estimation
1.3.1 Market Concentration Ratio and Market Maturity Analysis
1.3.2 Global Contact Center Software Revenue and Growth Rate from 2016-2026
1.4 Market Segmentation
1.4.1 Types of Contact Center Software
1.4.2 Applications of Contact Center Software
1.4.3 Research Regions
1.5 Market Dynamics
1.5.1 Contact Center Software Industry Trends
1.5.2 Contact Center Software Drivers
1.5.3 Contact Center Software Market Challenges
1.5.4 Contact Center Software Market Restraints
1.6 Industry News and Policies by Regions
1.6.1 Industry News
1.6.2 Industry Policies
1.7 Mergers & Acquisitions, Expansion Plans
1.8 Contact Center Software Industry Development Trends under COVID-19 Outbreak
1.8.1 Global COVID-19 Status Overview
1.8.2 Influence of COVID-19 Outbreak on Contact Center Software Industry Development

2 Industry Chain Analysis
2.1 Upstream Raw Material Supply and Demand Analysis
2.1.1 Global Contact Center Software Major Upstream Raw Material and Suppliers
2.1.2 Raw Material Source Analysis
2.2 Major Players of Contact Center Software
2.2.1 Major Players Manufacturing Base of Contact Center Software in 2020
2.2.2 Major Players Market Distribution in 2020
2.3 Contact Center Software Manufacturing Cost Structure Analysis
2.3.1 Production Process Analysis
2.3.2 Manufacturing Cost Structure of Contact Center Software
2.3.3 Labor Cost of Contact Center Software
2.4 Market Channel Analysis of Contact Center Software
2.5 Major Down Stream Customers by Application

3 Global Contact Center Software Market, by Type
3.1 Global Contact Center Software Revenue and Market Share by Type (2016-2021)
3.2 Global Contact Center Software Production and Market Share by Type (2016-2021)
3.3 Global Contact Center Software Revenue and Growth Rate by Type (2016-2021)
3.3.1 Global Contact Center Software Revenue and Growth Rate of Automatic Call Distribution (ACD)
3.3.2 Global Contact Center Software Revenue and Growth Rate of Call Recording
3.3.3 Global Contact Center Software Revenue and Growth Rate of Computer Telephony Integration (CTI)
3.3.4 Global Contact Center Software Revenue and Growth Rate of Customer Collaboration
3.3.5 Global Contact Center Software Revenue and Growth Rate of Dialer
3.3.6 Global Contact Center Software Revenue and Growth Rate of Interactive Voice Responses (IVR)
3.3.7 Global Contact Center Software Revenue and Growth Rate of Reporting & Analytics
3.3.8 Global Contact Center Software Revenue and Growth Rate of Workforce Optimization
3.3.9 Global Contact Center Software Revenue and Growth Rate of Others
3.4 Global Contact Center Software Price Analysis by Type (2016-2021)
3.4.1 Explanation of Different Type Product Price Trends

4 Contact Center Software Market, by Application
4.1 Downstream Market Overview
4.2 Global Contact Center Software Consumption and Market Share by Application (2016-2021)
4.3 Global Contact Center Software Consumption and Growth Rate by Application (2016-2021)
4.3.1 Global Contact Center Software Consumption and Growth Rate of BFSI (2016-2021)
4.3.2 Global Contact Center Software Consumption and Growth Rate of Consumer Goods & Retail (2016-2021)
4.3.3 Global Contact Center Software Consumption and Growth Rate of Government (2016-2021)
4.3.4 Global Contact Center Software Consumption and Growth Rate of Healthcare (2016-2021)
4.3.5 Global Contact Center Software Consumption and Growth Rate of IT & Telecom (2016-2021)
4.3.6 Global Contact Center Software Consumption and Growth Rate of Traveling & Hospitality (2016-2021)
4.3.7 Global Contact Center Software Consumption and Growth Rate of Others (2016-2021)

5 Global Contact Center Software Consumption, Revenue ($) by Region (2016-2021)
5.1 Global Contact Center Software Revenue and Market Share by Region (2016-2021)
5.2 Global Contact Center Software Consumption and Market Share by Region (2016-2021)
5.3 Global Contact Center Software Consumption, Revenue, Price and Gross Margin (2016-2021)
5.4 North America Contact Center Software Consumption, Revenue, Price and Gross Margin (2016-2021)
5.4.1 North America Contact Center Software Market Under COVID-19
5.4.2 North America Contact Center Software SWOT Analysis
5.5 Europe Contact Center Software Consumption, Revenue, Price and Gross Margin (2016-2021)
5.5.1 Europe Contact Center Software Market Under COVID-19
5.5.2 Europe Contact Center Software SWOT Analysis
5.6 China Contact Center Software Consumption, Revenue, Price and Gross Margin (2016-2021)
5.6.1 China Contact Center Software Market Under COVID-19
5.6.2 China Contact Center Software SWOT Analysis
5.7 Japan Contact Center Software Consumption, Revenue, Price and Gross Margin (2016-2021)
5.7.1 Japan Contact Center Software Market Under COVID-19
5.7.2 Japan Contact Center Software SWOT Analysis
5.8 Middle East and Africa Contact Center Software Consumption, Revenue, Price and Gross Margin (2016-2021)
5.8.1 Middle East and Africa Contact Center Software Market Under COVID-19
5.8.2 Middle East and Africa Contact Center Software SWOT Analysis
5.9 India Contact Center Software Consumption, Revenue, Price and Gross Margin (2016-2021)
5.9.1 India Contact Center Software Market Under COVID-19
5.9.2 India Contact Center Software SWOT Analysis
5.10 South America Contact Center Software Consumption, Revenue, Price and Gross Margin (2016-2021)
5.10.1 South America Contact Center Software Market Under COVID-19
5.10.2 South America Contact Center Software SWOT Analysis
5.11 South Korea Contact Center Software Consumption, Revenue, Price and Gross Margin (2016-2021)
5.11.1 South Korea Contact Center Software Market Under COVID-19
5.11.2 South Korea Contact Center Software SWOT Analysis
5.12 Southeast Asia Contact Center Software Consumption, Revenue, Price and Gross Margin (2016-2021)
5.12.1 Southeast Asia Contact Center Software Market Under COVID-19
5.12.2 Southeast Asia Contact Center Software SWOT Analysis

6 Global Contact Center Software Production by Top Regions (2016-2021)
6.1 Global Contact Center Software Production by Top Regions (2016-2021)
6.2 North America Contact Center Software Production and Growth Rate
6.3 Europe Contact Center Software Production and Growth Rate
6.4 China Contact Center Software Production and Growth Rate
6.5 Japan Contact Center Software Production and Growth Rate
6.6 India Contact Center Software Production and Growth Rate

7 Global Contact Center Software Consumption by Regions (2016-2021)
7.1 Global Contact Center Software Consumption by Regions (2016-2021)
7.2 North America Contact Center Software Consumption and Growth Rate
7.3 Europe Contact Center Software Consumption and Growth Rate
7.4 China Contact Center Software Consumption and Growth Rate
7.5 Japan Contact Center Software Consumption and Growth Rate
7.6 Middle East & Africa Contact Center Software Consumption and Growth Rate
7.7 India Contact Center Software Consumption and Growth Rate
7.8 South America Contact Center Software Consumption and Growth Rate
7.9 South Korea Contact Center Software Consumption and Growth Rate
7.10 Southeast Asia Contact Center Software Consumption and Growth Rate

8 Competitive Landscape
8.1 Competitive Profile
8.2 Alcatel Lucent Enterprise Market Performance Analysis
8.2.1 Company Profiles
8.2.2 Contact Center Software Product Profiles, Application and Specification
8.2.3 Alcatel Lucent Enterprise Sales, Revenue, Price, Gross Margin 2016-2021
8.2.4 Company Recent Development
8.2.5 Strategies for Company to Deal with the Impact of COVID-19
8.3 Mitel Corporation Market Performance Analysis
8.3.1 Company Profiles
8.3.2 Contact Center Software Product Profiles, Application and Specification
8.3.3 Mitel Corporation Sales, Revenue, Price, Gross Margin 2016-2021
8.3.4 Company Recent Development
8.3.5 Strategies for Company to Deal with the Impact of COVID-19
8.4 Nixxis Market Performance Analysis
8.4.1 Company Profiles
8.4.2 Contact Center Software Product Profiles, Application and Specification
8.4.3 Nixxis Sales, Revenue, Price, Gross Margin 2016-2021
8.4.4 Company Recent Development
8.4.5 Strategies for Company to Deal with the Impact of COVID-19
8.5 Cisco Systems Market Performance Analysis
8.5.1 Company Profiles
8.5.2 Contact Center Software Product Profiles, Application and Specification
8.5.3 Cisco Systems Sales, Revenue, Price, Gross Margin 2016-2021
8.5.4 Company Recent Development
8.5.5 Strategies for Company to Deal with the Impact of COVID-19
8.6 SAP SE Market Performance Analysis
8.6.1 Company Profiles
8.6.2 Contact Center Software Product Profiles, Application and Specification
8.6.3 SAP SE Sales, Revenue, Price, Gross Margin 2016-2021
8.6.4 Company Recent Development
8.6.5 Strategies for Company to Deal with the Impact of COVID-19
8.7 Five9, Inc. Market Performance Analysis
8.7.1 Company Profiles
8.7.2 Contact Center Software Product Profiles, Application and Specification
8.7.3 Five9, Inc. Sales, Revenue, Price, Gross Margin 2016-2021
8.7.4 Company Recent Development
8.7.5 Strategies for Company to Deal with the Impact of COVID-19
8.8 Avaya, Inc Market Performance Analysis
8.8.1 Company Profiles
8.8.2 Contact Center Software Product Profiles, Application and Specification
8.8.3 Avaya, Inc Sales, Revenue, Price, Gross Margin 2016-2021
8.8.4 Company Recent Development
8.8.5 Strategies for Company to Deal with the Impact of COVID-19
8.9 Unify, Inc Market Performance Analysis
8.9.1 Company Profiles
8.9.2 Contact Center Software Product Profiles, Application and Specification
8.9.3 Unify, Inc Sales, Revenue, Price, Gross Margin 2016-2021
8.9.4 Company Recent Development
8.9.5 Strategies for Company to Deal with the Impact of COVID-19
8.10 iPECS Market Performance Analysis
8.10.1 Company Profiles
8.10.2 Contact Center Software Product Profiles, Application and Specification
8.10.3 iPECS Sales, Revenue, Price, Gross Margin 2016-2021
8.10.4 Company Recent Development
8.10.5 Strategies for Company to Deal with the Impact of COVID-19
8.11 Amiba Unified Communications Market Performance Analysis
8.11.1 Company Profiles
8.11.2 Contact Center Software Product Profiles, Application and Specification
8.11.3 Amiba Unified Communications Sales, Revenue, Price, Gross Margin 2016-2021
8.11.4 Company Recent Development
8.11.5 Strategies for Company to Deal with the Impact of COVID-19
8.12 CloudTalk Market Performance Analysis
8.12.1 Company Profiles
8.12.2 Contact Center Software Product Profiles, Application and Specification
8.12.3 CloudTalk Sales, Revenue, Price, Gross Margin 2016-2021
8.12.4 Company Recent Development
8.12.5 Strategies for Company to Deal with the Impact of COVID-19
8.13 Enghouse Interactive Market Performance Analysis
8.13.1 Company Profiles
8.13.2 Contact Center Software Product Profiles, Application and Specification
8.13.3 Enghouse Interactive Sales, Revenue, Price, Gross Margin 2016-2021
8.13.4 Company Recent Development
8.13.5 Strategies for Company to Deal with the Impact of COVID-19

9 Global Contact Center Software Market Analysis and Forecast by Type and Application
9.1 Global Contact Center Software Market Revenue & Volume Forecast, by Type (2021-2026)
9.1.1 Automatic Call Distribution (ACD) Market Revenue and Volume Forecast (2021-2026)
9.1.2 Call Recording Market Revenue and Volume Forecast (2021-2026)
9.1.3 Computer Telephony Integration (CTI) Market Revenue and Volume Forecast (2021-2026)
9.1.4 Customer Collaboration Market Revenue and Volume Forecast (2021-2026)
9.1.5 Dialer Market Revenue and Volume Forecast (2021-2026)
9.1.6 Interactive Voice Responses (IVR) Market Revenue and Volume Forecast (2021-2026)
9.1.7 Reporting & Analytics Market Revenue and Volume Forecast (2021-2026)
9.1.8 Workforce Optimization Market Revenue and Volume Forecast (2021-2026)
9.1.9 Others Market Revenue and Volume Forecast (2021-2026)
9.2 Global Contact Center Software Market Revenue & Volume Forecast, by Application (2021-2026)
9.2.1 BFSI Market Revenue and Volume Forecast (2021-2026)
9.2.2 Consumer Goods & Retail Market Revenue and Volume Forecast (2021-2026)
9.2.3 Government Market Revenue and Volume Forecast (2021-2026)
9.2.4 Healthcare Market Revenue and Volume Forecast (2021-2026)
9.2.5 IT & Telecom Market Revenue and Volume Forecast (2021-2026)
9.2.6 Traveling & Hospitality Market Revenue and Volume Forecast (2021-2026)
9.2.7 Others Market Revenue and Volume Forecast (2021-2026)

10 Contact Center Software Market Supply and Demand Forecast by Region
10.1 North America Market Supply and Demand Forecast (2021-2026)
10.2 Europe Market Supply and Demand Forecast (2021-2026)
10.3 China Market Supply and Demand Forecast (2021-2026)
10.4 Japan Market Supply and Demand Forecast (2021-2026)
10.5 Middle East and Africa Market Supply and Demand Forecast (2021-2026)
10.6 India Market Supply and Demand Forecast (2021-2026)
10.7 South America Market Supply and Demand Forecast (2021-2026)
10.8 South Korea Market Supply and Demand Forecast (2021-2026)
10.9 Southeast Asia Market Supply and Demand Forecast (2021-2026)
10.10 Explanation of Market Size Trends by Region
10.11 Contact Center Software Market Trends Analysis

11 New Project Feasibility Analysis
11.1 Industry Barriers and New Entrants SWOT Analysis
11.2 Analysis and Suggestions on New Project Investment

12 Expert Interview Record
13 Research Finding and Conclusion
14 Appendix
14.1 Methodology
14.2 Research Data Source
 

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Case Study- Automotive Sector

One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached Straits Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).

Solution

The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research

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Conclusion

The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2028.


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