Predictive Dialer Software Market Size, Share & Trends Analysis Report By Component (Software, Services), By Deployment, By Enterprise Size, By End Use, By Region, And Segment Forecasts, 2021 - 2028

Report Overview

The global predictive dialer software market size was valued at USD 1.03 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 37.0% from 2021 to 2028. The growing preference for telemarketing as a way to connect with the customers in real-time and deliver higher customer satisfaction is expected to fuel the growth of the market. Predictive dialer software is an automated dialing system that is widely used in contact centers to make sequential outbound calls from a list of phone numbers. The software can potentially detect disconnected numbers, busy signals, voicemails, and unanswered numbers and connect only the calls that are connected to the available contact center agent.

The predictive dialer software predicts the exact moment or the exact time a customer would be free to take the next call using the call metrics technique. The software helps contact center agents in dialing the right number of leads at the right time, which improves the agent efficiency by reducing the number of abandoned calls. The software can also help businesses in evenly distributing the employee workload. The software eventually minimizes routine work and boosts the efficiency of contact center agents.

The predictive dialer software eliminates manual dialing and connects contact center agents to a call only after the call has been responded to. It ensures a seamless transition between customer calls and generates a steady stream of calls with the lowest downtime. The software is flexible enough to be customized for use by businesses of all sizes. The software can be used for various applications, including debt collection, sales and telemarketing, professional services in BPO, and multiple outbound campaigns.

Businesses are preferring soft predictive dialer systems over hard predictive dialer systems. A hard dialer system tends to be more accurate owing to better Answering Machine Detection (AMD) capabilities. However, hardware solutions also tend to incur higher operational costs as they are difficult to maintain. Hence, hard dialers are losing their popularity. On the contrary, a soft dialer system does not require any additional hardware and hence proves to be a cost-effective solution.

Various factors such as possible predictive algorithm failure and the inability to detect answering machines accurately are expected to restrain the growth of the market. Although the algorithm is designed to help businesses in connecting with more leads and customers, it may fail to verify the agent availability at times. Nevertheless, businesses are adopting the software owing to its various features, such as automated messages, live call transfer, and touch-tone opt-out options. The outbreak of COVID-19 is also anticipated to drive the demand for predictive dialer software.

Component Insights

The software segment dominated the market in 2020 and accounted for a revenue share of more than 68.0%. The software can effectively skip busy signals and fake numbers, thereby helping agents in increasing the customer calling rate. The software also helps agents in enhancing customer experience by reducing the average call duration. Hence, businesses are typically adopting predictive dialer software to reduce idle time.

The services segment is anticipated to witness the fastest growth over the forecast period. The services segment has been further segmented into integration and deployment, support and maintenance, training and consulting, and managed services. Businesses are preferring predictive dialer software that is compatible with their existing systems. The software includes a comprehensive and easily accessible Application Program Interface (API) to allow seamless integration of the software with other business applications.

Deployment Insights

The on-premise segment dominated the market in 2020 and accounted for a revenue share of more than 55.0%. Organizations are preferring a hybrid cloud, which comprises at least one public cloud and on-premise system. Organizations are using the public cloud system for new sites and new projects but continuing to maintain an on-premise system for operational customer data. The hybrid approach allows an organization to exploit the cost-effectiveness and scalability associated with a cloud environment without exposing critical data and applications to third-party vulnerabilities.

The cloud segment is expected to witness the fastest growth over the forecast period. The growth can be attributed to the growing adoption of cloud-based software by businesses to eliminate the hassles and expenses associated with managing an on-premise system. Cloud-based systems allow businesses to work with lesser hardware and software resources. Cloud-based systems are also preferred owing to their seamless integration capabilities.

Enterprise Size Insights

The large enterprises' segment dominated the market in 2020 and accounted for a revenue share of more than 54.0%. The adoption of predictive dialer software for cold-calling and inside sales and customer support activities is growing continuously. The software can benefit large enterprises as it is typically designed to handle a large number of customers’ calls in a very short period of time. Contact center agents in large enterprises are widely using this software owing to the advanced algorithms featured in the software to reduce the waiting time and improve agent efficiency.

The small and medium enterprises segment is anticipated to witness the fastest growth over the forecast period. The software typically reduces the number of dropped calls and hence the idle time of agents. The software also allows agents to access historical CRM reports so that they can handle customer queries effectively. Hence, small and medium enterprises are widely adopting predictive dialer software as a tool to reach more contacts simultaneously and increase the Return on Investment (ROI).

End-use Insights

The IT and telecom segment dominated the market in 2020 and accounted for a revenue share of more than 27.0%. Predictive dialer is an automated dialing system that can potentially allow IT and telecom contact centers to significantly increase the number of outbound calls. The system connects agents to calls only if the call is answered by the customer. It also saves time spent on dealing with busy signals, unanswered calls, answering fax machines, disconnected lines, and any other automated response systems.

The government segment is anticipated to register the fastest CAGR over the forecast period. The growth can be attributed to the growing need for rolling out efficient public services. Government agencies are widely adopting predictive dialer systems to provide quality services to the public. Several companies are providing a myriad of automated, easy-to-use, and communications solutions for local, state, and federal government agencies and organizations.

Regional Insights

North America dominated the market in 2020 and accounted for a revenue share of over 36.0%. North America is home to some of the prominent market players. A large number of contact centers operational in North America is also driving the adoption of predictive dialer systems in the region. Contact centers in the region are aggressively adopting these systems to streamline their operations, deliver information more efficiently, and execute internal processes more effectively.

The Asia Pacific market is expected to emerge as the fastest-growing regional market over the forecast period. The growing adoption of predictive dialer systems by both large and small and medium enterprises is expected to fuel the growth of the regional market. The large-scale adoption of cost-effective and cloud-based systems is anticipated to play a crucial role in fueling the growth of the regional market. Enterprises in the Asia Pacific are expanding their IT budgets, increasing their technology spending, and digitalizing their business operations, thereby opening growth opportunities for the regional market.

Key Companies & Market Share Insights

The market is highly fragmented in nature. Prominent market players are adopting various strategies, such as strategic joint ventures, partnerships, product innovation, research & development initiatives, geographical expansion, and mergers & acquisitions to cement their foothold in the market. Businesses are focusing on providing both cloud-based and on-premise software solutions to large enterprises. These solutions are designed to help enterprises efficiently manage the high-volume and high-touch automated multichannel campaigns.

Vendors are focusing on offering predictive dialer capabilities, which can potentially drive both conventional outbound contact center activities, such as telemarketing and voice-based communications and proactive outreach strategies, which leverage the numerous customer contact channels. Vendors are also focusing on offering call monitoring, call recording, and call scheduling features. Businesses are aggressively adopting these solutions to automate their processes related to voice broadcasting, Interactive Voice Response (IVR), and live call transfer. Marketing teams are typically using the software to play pre-recorded advertisements, autodial leads, and run campaigns. Some prominent players in the global predictive dialer software market include:

• Agile CRM

• ChaseData Corporation

• Convoso

• Five9, Inc.

• NICE inContact

• PhoneBurner

• RingCentral, Inc.

• Star2Billing S.L.

• VanillaSoft

• Ytel Inc.

Predictive Dialer Software Market Report Scope

Segments Covered in the Report

The report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2016 to 2028. For the purpose of this study, Grand View Research has segmented the global predictive dialer software market report based on component, deployment, enterprise size, end use, and region:

• Component Outlook (Revenue, USD Million, 2016 - 2028)

  • Software

  • Services

    • Integration & Deployment

    • Support & Maintenance

    • Training & Consulting

    • Managed Services

• Deployment Outlook (Revenue, USD Million, 2016 - 2028)

  • Cloud

  • On-premise

• Enterprise Size Outlook (Revenue, USD Million, 2016 - 2028)

  • Large Enterprises

  • Small & Medium Enterprises

• End-use Outlook (Revenue, USD Million, 2016 - 2028)

  • BFSI

  • Government

  • Healthcare

  • IT & Telecom

  • Others

• Regional Outlook (Revenue, USD Million, 2016 - 2028)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • U.K.

  • Asia Pacific

    • China

    • India

    • Japan

  • Latin America

    • Brazil

  • Middle East & Africa