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Contact Center Software Market Size

Report ID: GMI2972
Published Date: Oct 2018
Report Format: PDF

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Contact Center Software Market Size

Contact Center Software Market size surpassed USD 14 billion in 2017 and is projected to expand at 15% CAGR between till 2024. Rising demand for unified communication platforms that provide communication through different modes such as video, voice, web, email, fax, and social media is likely to boost industry demand.

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Contact center software enables enterprises to co-ordinate services across different communication channels to improve customer experience. The increasing demand for technology across various industries, such as BFSI, healthcare, IT & telecom, travel & hospitality, and government organizations, is also positively impacting market revenue.

Contact Center Software Market Report Attributes
Report Attribute	Details
Base Year:	2017
Contact Center Software Market Size in 2017:	14 Billion (USD)
Forecast Period:	2018 to 2024
Forecast Period 2018 to 2024 CAGR:	15%
2024 Value Projection:	40 Billion (USD)
Historical Data for:	2013 to 2017
No. of Pages:	220
Tables, Charts & Figures:	397
Segments covered:	Component, Deployment Model, Application and Region
Growth Drivers:	Rising demand for the automation of contact center solutions Emergence of oMillion (USD)ichannel communication Increasing adoption of social media by customers Advancement in latest technologies including IoT and AI Growing adoption of cloud-based contact center solutions
Pitfalls & Challenges:	High initial investment and complex integrations Inefficiency to achieve low first call resolution and improved average speed of answer

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The integration of Artificial Intelligence (AI) technology in these solutions allows enterprises to automate their routine interactions and helps them to resolve their issues. It also helps in predicting new market trends using machine learning algorithms and understanding customer expectations to increase customer retention.

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of contact center software surpassed USD 14 billion in 2017.

The industry share of contact center software is poised to grow at a CAGR of over 15% between 2018 to 2024.

With China coming up with a chatbot platform WeChat application and other countries such as Japan and South Korea providing advanced services through the solution, stakeholders are contemplating investments in APAC.

IT & telecom sector will gain prominence on account of the usage of contact center software to solve issues pertaining to network connectivity.

Faster and easy deployment & implementation, enhanced flexibility and scalability, increased security, and real-time data visibility, may boost the deployment of cloud model.

Some of the key vendors operating in the industry are 8x8, Alcatel-Lucent, Ameyo, Avaya, BT, Cisco, Five9, Genesys, Mitel, Oracle, Nice, Top Down Systems, Fenero, SAP, Unify, Vocalcom, West Corporation, Zendesk, ZTE, and Aspect Software.