Portland, OR, April 13, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global contact center software market was estimated at $18.70 billion in 2019 and is expected to hit $72.04 billion by 2027, registering a CAGR of 18.9% from 2020 to 2027. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
Rise in usage of contact center software among organizations to enhance customer experience, surge in omnichannel communication approach, rapid advancements in the field of customer relationship management, and increase in need for personalized services drive the growth of the global contact center software market. On the other hand, cost issues in case of on-premise call center software restrain the growth to certain extent. Nevertheless, emergence of advanced technologies such as artificial intelligence, predictive analysis, cloud computing, and machine learning and increase in the usage of social media by customers are projected to pave the way for lucrative opportunities in the industry.
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Covid-19 on Contact Center Software Market:
- The outbreak of covid-19 led to surge in need for business organizations to originate a more agile approach for customer engagement, which accordingly has boosted the global contact center software market.
- Moreover, most of the business ventures with on-premise systems have moved their contact centers over cloud. This has also been beneficial for the market, since it has thrust the adoption of cloud based contact center at full sway.
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The global contact center software market report is analyzed across component, deployment type, enterprise size, software type, industry vertical, and region. On the basis of component, the software segment accounted for more than two-thirds of the total market share in 2019, and is projected to rule the roost by 2027. At the same time, the services segment would manifest the fastest CAGR of 21.1% throughout the forecast period,
On the basis of deployment mode, the cloud segment contributed to nearly three-fifths of the total market revenue in 2019, and is anticipated to retain its dominance by the end of 2027. The same segment would also project the fastest CAGR of 20.2% during the forecast period.
By region, North America garnered the major share in 2019, holding around two-fifths of the global market. At the same time, the market across Asia-Pacific would exhibit the fastest CAGR of 23.3% from 2020 to 2027. The other two provinces discussed in the report include Europe and LAMEA.
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The key market players analyzed in the global contact center software market report include Avaya, Inc., Cisco Systems, Inc., Alcatel-Lucent Enterprise, Huawei Technologies Co., Ltd., Microsoft Corporation, SAP SE, Mitel Corporation, Oracle Corporation, NEC Corporation, Nice Systems Ltd., Genesys, and 8*8 Contact Center. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
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