Contact Center Software Market

GMI Research analysis indicates that the Contact Center Software Market size was estimated at USD 35.4 billion in 2022 and is slated to register a single digit CAGR of 20.8% over the forecast period, and is projected to reach USD 160.5 billion in 2030.

Introduction of the Contact Center Software Market Report

A contact center software is a telephony system that is used by enterprises, which assists in growing the effectiveness and efficiency of a contact center. It focuses on interactions between contact center agents and customers. The major function of the software is to route customer contacts to executives and track & report critical metrics regarding these interactions. Contact center software enables organizations to manage a high volume of outbound and inbound customer communications across a range of channels.

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Key Contact Center Software Market Drivers

The major factors propelling the growth of the contact center software market size are the increase in omnichannel communication and the rising need to cater to dynamic customer requirements. Moreover, rapid technological enhancements in the field of customer relationship management (CRM) and the incorporation of artificial intelligence (AI) and machine learning into business processes are further driving the growth of the market. In addition, enterprises are focusing on implementing stack technologies into their business processes as it allows agents to address customer queries and problems in a consistent way across all communication channels. This is enabling businesses to improve operational performance and customer loyalty. These factors significantly surge the growth of the global contact center software market share in terms of revenue.

The development of the omnichannel customer experience has enabled customers to reach out for help across every channel. It allows executives to easily move between channels so that they can help their customers effectively. Nowadays, buyers highly prefer cloud-based systems due to their various benefits, which include the elimination of installation time and costs, usage flexibility, and reduced maintenance charges. ssThese factors are augmenting the growth of the global contact center software market.

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Organization Size – Segment Analysis

Based on the organization size, the large enterprises segment is projected to grow at a higher CAGR during the forecast period. These enterprises have their customers across regions and account for high technical expertise, market shares, and effective business strategies. For instance, companies, such as McDonalds and Icruise, use contact center software for enhancing the customer experience. These organizations are investing in new technologies to effectively run their business. Furthermore, the adoption of contact center software by large enterprises has become a prominent part to maintain their position in the highly competitive market. These factors play a crucial role in supplementing the growth of the large enterprises segment in the global contact center software market.

Vertical – Segment Analysis

On the basis of the vertical, the BFSI segment is anticipated to grow at a faster CAGR over the forecast period. The BFSI industry consists of commercial banks, non-banking financial companies, insurance companies, payment gateway providers, and stock brokerage firms. These enterprises are investing in research & development activities to improve their operational efficiencies and offer customized user experiences.  For instance, exotel provides contact center software to various BFSI enterprises, which include Bajaj Finserv, Zest, ICICI Bank, among others. Contact center software allows financial institutions in mining the customer data, which includes customer queries through multiple channels, transactions, and customer activities across financial and banking service websites. These factors are significantly contributing to the growth of the BFSI segment in the global contact center software market.

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Region – Segment Analysis

Based on the region, the North America region is expected to grow at a higher CAGR over the forecast period. This is mainly attributed to the strong presence of a large number of contact center software providers in this region, such as 8×8, Inc. (US), Enghouse Interactive (US), Avaya Inc. (US), among others, which has increased the awareness among small organizations about these software. Moreover, the high adoption of such software among some of the leading companies is further driving the market growth. For instance, 8×8, Inc. provides its contact center software to companies, such as Farmers’ Insurance, Re/Max, among others. Various contact center providers are focusing on providing easy and effective self-service IVR options for customer queries, which is saving customers’ time and effort. All these factors are likely to boost the growth of the contact center software market in North America. 

Top Market Players

Various notable players operating in the market include 8×8, Inc., 3CLogic, Ameyo, ALE International, Aspect, BT, Enghouse Interactive, Cisco, Avaya Inc., and Genesys, among others.

Key Developments:

• • In 2019, Aspect announced its partnership with Intradiem, a workforce automation firm, to provide contact center workforce management solution for training, coaching, and real-time processes. Intradiem aimed to offer its solutions on Aspect’s work from home platform as an add-on feature.
  • In 2019, Cisco acquired CloudCherry, a customer experience management (CEM) provider, to imply predictive analysis to improve agents’ productivity and customer journey. This acquisition aims to transform Cisco’s contact center from delivering reactive care to offering predictive support. 

Segments covered in the Report:

The global contact center software market has been segmented on the basis of component, deployment type, organization size, vertical, and regions. Based on component, the market is segmented into solution and services. The solution segment is further segmented into automatic call distribution (ACD), call recording, computer telephony integration (CTI), customer collaboration, dialer, interactive voice responses (IVR), reporting & analytics, workforce optimization, and others. Based on deployment type, the market is segmented into cloud and on-premises. Based on organization size, the market is segmented into large enterprises and small & medium-sized enterprises. Based on vertical the market is segmented into BFSI, consumer goods & retail, healthcare, it & telecom, government, travel & hospitality, media & entertainment, and others. 

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Key questions answered in this research report:

• • At what pace is global contact center software market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in contact center software market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global contact center software market?
  • Which component generated maximum revenues in 2022 and identify the most promising component during the forecast period?
  • What are the various deployment type areas of global contact center software market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Contact Center Software Market by Component

• • Solution
    • Automatic Call Distribution (ACD)
    • Call Recording
    • Computer Telephony Integration (CTI)
    • Customer Collaboration
    • Dialer
    • Interactive Voice Responses (IVR)
    • Reporting & Analytics
    • Workforce Optimization
    • Others
  • Services
    • Integration & Deployment
    • Support & Maintenance
    • Training & Consulting
    • Managed Services

Global Contact Center Software Market by Deployment Type

• • Cloud
  • On-Premises

Global Contact Center Software Market by Organization Size

• • Large Enterprises
  • Small & Medium-Sized Enterprises

Global Contact Center Software Market by Vertical

• • BFSI
  • Consumer Goods & Retail
  • Healthcare
  • IT & Telecom
  • Government
  • Travel & Hospitality
  • Media & Entertainment
  • Others

Global Contact Center Software Market by Region

• • North America Contact Centers Software Market (Option 1: As a part of the free 25% customization)
    • By Component
    • By Deployment Type
    • By Organization Size
    • By Vertical
    • US Market All-Up
    • Canada Market All-Up
  • Europe Contact Centers Software Market (Option 2: As a part of the free 25% customization)
    • By Component
    • By Deployment Type
    • By Organization Size
    • By Vertical
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Contact Centers Software Market (Option 3: As a part of the free 25% customization)
    • By Component
    • By Deployment Type
    • By Organization Size
    • By Vertical
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Contact Centers Software Market (Option 4: As a part of the free 25% customization)
    • By Component
    • By Deployment Type
    • By Organization Size
    • By Vertical
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Contact Center Software (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • 8×8, Inc.
  • 3CLogic
  • Ameyo
  • ALE International
  • Aspect
  • BT
  • Enghouse Interactive
  • Cisco
  • Avaya Inc.
  • Genesys