Contact Center Software Market – Growth Market Reports

The global contact center software market size is estimated to register a significant CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the increasing focus on client experience, responsiveness, and enhancing customer involvement using omni-channel globally.

Contact center software is a solution that allows customers and contact center personnel to communicate more effectively. It enables agents to keep a track and report on data related to interactions.

Moreover, an effective call center software is required to sustain customers and meet the growing demand of consumers. Furthermore, physical contact centers with human operators have been replaced by technologically advanced automatic call distributor, which is a flexible robotic system capable of readily handling large quantities of calls.

Additionally, several businesses are implementing omni-channel contact center accessibility in order to create a smooth experience for customers, communicating call centers via SMS, online, email, or social media.

The COVID-19 outbreak has had a favorable impact on the contact center software market worldwide. Though contact center executives are focused on making quick decisions in order to serve their customers efficiently during the crisis, many organizations are also working to improve customer service and operations in the long run. Additionally, organizations are constantly focusing on designing business procedures in order to comply with data laws & regulations.

Market Trends, Drivers, Restraints, and Opportunities

Increasing advanced technology in the area of customer relationship management along with rapid incorporation of machine learning and Artificial Intelligence (AI) into business processes are expected to propel the market expansion.
Growing demand for more flexibility, scalability, and faster deployment of services in call centers is estimated to fuel the market growth in the coming years.
Cost-effectiveness, easier set up & maintenance, and better visibility & control into business operations are some of the driving factors for market growth in the coming years.
Rising security breach and privacy concerns by adoption of cloud-based software in industry verticals such as banking and financial institutes are anticipated to hamper the growth of the market.
Low First Call Resolution (FCR) along with difficulty to achieve a greater average speed of answer is one of the major factors challenging the growth of the market during the forecast period.
Rising advancements in Artificial Intelligence (AI) and its application in business analytics are projected to offer a great opportunity for the market during the forecast period.

Key Players

8X8, Inc.
VCC Live
ALE International
Amazon Web Services, Inc.
AMTELCO
Ameyo
Altivon
Avaya Inc.
Aspect Software
Avoxi
Enghouse Interactive Inc.
Unify Inc.
Cisco Systems, Inc.
Five9, Inc.
Exotel Techcom Pvt. Ltd.
Microsoft Corp.
Genesys
NEC Corp.
Spok, Inc.
SAP SE
Twilio Inc.
Talkdesk, Inc.
UiPath

Competitive Landscape

Some of the major players competing in the global contact center software are 8X8, Inc.; VCC Live; ALE International; Amazon Web Services, Inc.; AMTELCO; Ameyo; Altivon; Avaya Inc.; Aspect Software; Avoxi; Enghouse Interactive Inc.; Unify Inc.; Cisco Systems, Inc.; Five9, Inc.; Exotel Techcom Pvt. Ltd.; Microsoft Corp.; Genesys; NEC Corp.; Spok, Inc.; SAP SE; Twilio Inc.; Talkdesk, Inc.; and UiPath.

These major players are expanding their market share by investing in enhanced products along with implementing marketing strategies such as, mergers & acquisitions, partnerships & collaboration.

For example, in October 2018 Talkdesk Inc. has raised $100 million in funding, which is projected to be used in the expansion of its intelligent contact center software suite.

For instance, Twilio purchased Ytica, a contact center startup that specializes in workforce efficiency tools, speech analytics, and contact center reporting, in September 2018. In the contact center market, this is expected to widen the company's product offering and consumer reach.

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