Type (Outbound, Inbound, Omni-channel), Implementation (Cloud, On-premise), Provider (Professional, Managed), End-user Company (IT and Telephony, Healthcare, Retail), and Geographically are divided in the Contact Center Software Market.
The software of the Contact Centre is a telecommunication application used by companies/customers to connect with each other. By offering efficient communication through multiple platforms, such as speech, video, web, chat, mobile apps, and social networking, contact center software empowers companies to establish and strengthen relationships with their customers and prospects. By optimizing inbound and outbound activities, the contact center platform helps companies improve their overall efficiency. In addition, it helps organizations with different capabilities from a single platform, including call management, review, and reporting.
Global Contact Center Software Market Summary
In 2020, the Contact Center Software Market was estimated at USD 20.18 billion and is projected to hit USD 44.30 billion by 2026, with a 14% CAGR over the 2021-2026 market growth. The software demand for contact centers is entirely driven by the growing need, at relatively lower prices, to improve customer service. This helps adapt to the growing rivalry and growing demands of consumers resulting from technological advances. These advances have greatly increased the barraging capacity of chain management consumers while reducing the inherent expense of switching suppliers in most services, as the demand for hardware components in companies is declining.
- The cost of keeping a customer is 70% lower than the amount spent on obtaining a new one; 67% of customers are lost because of negative experiences. Therefore, one of the reasons expected to support the growing use of contact center technologies is customer service (CS), as companies aim to maintain their current customers.
Coordinated workforce management is one of the functionality that could boost the market for contact centre services. Teams with a high degree of employee involvement are found to be 21% more effective, which in turn decreases internal theft by 28%. The company’s most important assets are employees. Organizing their work is important in order to extract full output from these properties. For such purposes, contact center software is very beneficial.
The growing need for personalized services is another reason that could further boost the growth in the contact centre software industry. More than 75 percent of consumers are more likely to buy from a supplier that knows them by title or from a supplier suggested on the premise of a previous order, according to Accenture, a leading software provider in the global market.
Contact Center Software Market Scope by Component
The software of the contact center helps to improve the productivity and efficacy of a contact center, with a particular focus on customer and contact center agent experiences. The software’s main role is to direct customer communications to agents and track and report important metrics about those meetings.
Contact Center Software Market by Type
- Workforce Optimization
- Reporting and Analytics
- Other Types
Contact Center Software Market by Deployment
Contact Center Software Market by Service
Contact Center Software Market by End-user Industry
- IT and Telecommunication
- Media and Entertainment
- Other End-user Industries
Contact Center Software Market by Geography
- North America
— United States
— United Kingdom
— Rest of Europe
— Rest of Asia-Pacific
- Latin America
- Middle East & Africa
Main Trend In Global Contact Center Software Market
With a focus on the marketplace, the “Global Contact Center Software Market” case study will provide useful insight. Alcatel-Lucent Company, Genesys, Microsoft Corp., Lenovo, Inc., Cisco Systems, Inc., SAP SE, Nice Systems Ltd., Five9, Inc., NEC Corporation, and Huawei Technologies Co., Ltd. are the major players in the industry. The main growth strategy, market share, and market ranking analysis of the above-listed players worldwide are also included in the future market category.
Merchandise is Likely to Maintain an Important Share
The Merchandise industry no longer has contact centers on a single channel. The rise in popularity of e-commerce has redefined the industry in many respects. The growing volume of omnichannel sales has made it difficult for the contact center software industry to handle the post-sales services provided to consumers and to present a large opportunity.
Omnichannel sales have also gained broad acceptance among customers. Over 70% of consumers are available to online shopping, some shopping from online platforms on a daily basis, while a few more are able to turn if the service and value of money are improved.
In countries such as the United Kingdom, the retail sector seems to have a tremendous opportunity, as the country’s omnichannel revenues are projected to see fast expansion. The top things prioritized by retailers in the country were the single perception of customers and personalized experience, as per a survey conducted by Manhattan Allies. Contact centers are projected to favor omnichannel merchants relative to the conventional call center approach due to this business environment.