Contact Center Software Market Size, Share & Trends Report

Contact Center Software Market Size, Share & Trends Analysis Report By Service, By Deployment, By Solution (IVR, Customer Collaboration), By End Use, By Enterprise Size, And Segment Forecasts, 2018 - 2025

  • Published Date: Jul, 2018
  • Base Year for Estimate: 2016
  • Report ID: GVR-2-68038-400-0
  • Format: Electronic (PDF)
  • Historical Data: 2014 - 2016
  • Number of Pages: 163

Industry Insights

The global contact center software market size was valued at USD 13.98 billion in 2016 and is projected to expand further at a CAGR exceeding 15.6% during the forecast years. Rapid technological advancements in the field of Customer Relationship Management (CRM) and integration of machine learning and Artificial Intelligence (AI) into business processes are anticipated to boost the demand for customer experience software.

The development of unified communication social media centers with integrated channels has enabled companies to retain their customers. Emergence of the omnichannel customer experience towards contact center software is expected to accelerate the market growth over the forecast period. Rising preference for cloud-based systems owing to benefits, such as remote accessibility to data, usage flexibility, and reduced maintenance charges, would also fuel market demand.

U.S. contact center software market

Robotic Process Automation (RPA) is a vital part of the global market as it helps reduce errors while improving work quality. Companies are seeking solutions that can perform routine tasks automatically allowing managers and agents in the CRM department to focus more on decision-making and analytical activities.

Rising adoption of advanced customer solutions in the BFSI sector due to growing need for flexibility and automation in conducting banking activities will also drive market. These solutions also find use in healthcare, government, media and entertainment, and travel and hospitality sectors for resolving various customer queries. As a result of the aforementioned factors, the demand for contact center solutions is anticipated to grow over the forecast period.

Solution Insights

Interactive Voice Response (IVR) segment accounted for a major revenue share in 2016 owing to the high demand for quick resolution of queries over calls. These solutions enable customers to resolve product-related issues by themselves, rather than relying on customer care representatives. Moreover, innovative uses of IVR, such as marketing for customers, feedback surveys, and payment processing, are projected to boost the market growth.

Customer collaboration segment was valued at USD 270.7 million in 2016. The segment is anticipated to grow rapidly over the forecast period. Customer collaboration software allow organizations to interact with their existing and potential customers in a better way. It also helps them establish a long-term bond with their customers and upgrading product quality through feedback, thereby, improving the overall performance of a company.

Service Insights

Integration and deployment function accounted for the largest share of the contact center software market and was valued at USD 1.86 billion in 2016. Growing adoption of new contact center systems and integration of new systems with the existing ones at workplaces is expected to drive the market in the coming years.

Rising demand for updating customer experience software and solutions is also likely fuel the segment growth as it requires vendor support for troubleshooting and resolving technical issues.

Deployment Insights

Extensive usage of IVRs and self-service portals in customer to automatically resolve queries and issues has resulted in substantial changes in the business process automation technology. Prior to the advent of cloud-based solutions, on-premise solutions were the most feasible option.

Europe contact center software market

Availability of affordable internet connections is expected to increase the demand for hosted deployment of contact center solutions in organizations. Organizations prefer this software as it is hosted on a vendor’s server and can be accessed by only authorized people through a web browser. Hosted deployment segment was valued at USD 4.83 billion in 2016 and is expected to grow remarkably over the forecast period.

End-use Insights

Increasing demand from IT and telecom, BFSI, consumer goods and retail, and healthcare sectors is anticipated to drive the industry. Contact centers and unified collaboration software offer flexibility and multimedia to customers, thereby, enhancing customer satisfaction, which ensures brand loyalty.

As a part of the e-government initiative, offices and public organizations are expected to implement contact center solutions to efficiently carry out online processes related to citizen complaints, queries, inquiries, and feedbacks, among others. Globalization of the IT industry has resulted in a huge customer/client database, which needs to be managed effectively. This is subsequently increasing the demand for such solutions.

Enterprise Size Insights

The Small and Medium Enterprises (SMEs) segment was valued at USD 5.34 billion in 2016. The segment is projected to expand at the highest CAGR over the forecast period. Increasing implementation of customer care solutions by different companies is the key factor driving the segment growth.

Large enterprises have enormous amounts of customer data that needs to be managed effectively in local offices, as well as overseas. In order to manage this data, such enterprises implement contact center systems, thereby, allowing professionals to focus more on critical queries and customer retention.

Regional Insights

The North American market was valued at USD 5.26 billion in 2016. It is projected to expand further due to increasing awareness among local organizations about these software. The Asia Pacific region is experiencing immense growth owing to increasing number of favorable government initiatives supporting business processes automation. Moreover, Presence of a large number of contact centers in the region and adoption of cloud-based systems across various organizations would also augment the segment growth.

Contact Center Software Market Share Insights

Key vendors in the market include Alcatel-Lucent Enterprise; Avaya, Inc.; Cisco Systems, Inc.; Enghouse Interactive, Inc.; Five9, Inc.; Genesys; Mitel Corporation; SAP SE; Nice Systems Ltd.; and Huawei Technologies Co., Ltd.; among others. These companies develop and deploy contact center solutions for various organizations.

Most of these companies emphasize on user feedback and incorporate it to streamline their operations in order to improve customer satisfaction levels. Additionally, companies are also investing in R&D to develop innovative products.

Report Scope

Attribute

Details

Base year for estimation

2016

Actual estimates/Historical data

2014 - 2016

Forecast period

2017 - 2025

Market representation

Revenue in USD Million and CAGR from 2017 to 2025

Regional scope

North America, Europe, Asia Pacific, Latin America, and MEA

Country scope

U.S., Canada, Germany, U.K., India, Japan, China, and Brazil

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

15% free customization scope (equivalent to 5 analyst working days)

If you need specific market information that is not currently within the scope of the report, we will provide it to you as a part of the customization


Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global contact center software market report on the basis of solution, service, deployment, enterprise size, end use, and region:

  • Solution Outlook (Revenue, USD Million, 2014 - 2025)

    • Automatic Call Distribution (ACD)

    • Call Recording

    • Computer Telephony Integration (CTI)

    • Customer Collaboration

    • Dialer

    • Interactive Voice Responses (IVR)

    • Reporting & Analytics

    • Workforce Optimization

    • Others

  • Service Outlook (Revenue, USD Million, 2014 - 2025)

    • Integration & Deployment

    • Support & Maintenance

    • Training & Consulting

    • Managed Services

  • Deployment Outlook (Revenue, USD Million, 2014 - 2025)

    • Hosted

    • On-premise

  • Enterprise Size Outlook (Revenue, USD Million, 2014 - 2025)

    • Large Enterprise

    • Small & Medium Enterprise (SME)

  • End-use Outlook (Revenue, USD Million, 2014 - 2025)

    • Banking, Financial Services, and Insurance (BFSI)

    • Consumer Goods & Retail

    • Government

    • Healthcare

    • IT & Telecom

    • Travel & Hospitality

    • Others

  • Regional Outlook (Revenue, USD Million, 2014 - 2025)

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • U.K.

    • Asia Pacific

      • China

      • India

      • Japan

    • Latin America

      • Brazil

    • Middle East & Africa (MEA)

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