Pune, Feb. 28, 2023 (GLOBE NEWSWIRE) -- As per SNS Insider, the size of Contact Center Software Market was valued at USD 29.77 billion in 2022. It is anticipated to grow at a CAGR of 22.69% during the forecast period of 2023-2030 and is expected to reach USD 152.88 billion by the end of 2030.
The contact center software market is expected to witness significant growth in the coming years, thanks to rapid technological advancements in customer relationship management (CRM) and the integration of machine learning and artificial intelligence (AI) into business processes. The use of contact center software solutions is also expected to increase as businesses continue to adopt digital transformation strategies. As businesses move towards cloud-based solutions, the demand for contact center software solutions is expected to grow.
Get a Sample Report of Contact Center Software Market@ https://www.snsinsider.com/sample-request/2415
(For more information or the latest updates mail us at info@snsinsider.com)
Key Company Profiles Included are:
- Avaya, inc.
- Cisco Systems, inc.
- Genesys
- Huawei technologies co., Ltd.
- Microsoft Corporation
- Mitel Corporation
- NEC Corporation
- Nice Systems Ltd.
- Oracle Corporation
- SAP SE
Major Trends Observed for Contact Center Software Market
- The emergence of the omnichannel customer experience has revolutionized the market, accelerating the demand for omnichannel contact center solutions. Customers today demand instant and efficient communication, and an omnichannel contact center software solution enables businesses to meet these expectations.
- The software segment accounted for the largest share of the contact center market and is expected to maintain its dominance throughout the forecast period. The software can be customized according to the specific needs of an organization, enabling businesses to improve their customer service operations while optimizing costs.
- The banking, financial services, and insurance (BFSI) vertical is expected to be the largest contributor to the market during the forecast period. Contact center software providers have introduced compliance solutions that help BFSI organizations meet regulatory requirements, such as data privacy regulations and anti-money laundering laws.
- North America has emerged as the largest revenue-generating region for the target market. The region's dominance in the market is attributed to the presence of a significant number of contact center software vendors and providers who have been operating in the region for a long time.
Contact Center Software Market Report Scope:
| Report Attributes | Details |
| Market Size in 2022 | US$ 29.77 Billion |
| Market Size by 2030 | US$ 152.88 Billion |
| CAGR | CAGR 22.69% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Key Market Segments | • by Component (Solution and services) • by Deployment (Hosted and On-premise) • by Enterprise Size (Large Enterprise and Small & Medium Enterprise) • by End Use (BFSI, Consumer Goods & Retail, Government, Healthcare, IT & Telecom, Travel & Hospitality, Others |
| Key Regional Coverage | North America, Europe, Asia-Pacific, The Middle East & Africa, Latin America |
Do you have any specific queries related to this research? As your Query@ https://www.snsinsider.com/enquiry/2415
Impact of recession on the Contact Center Software Market
The target market, like many other industries, is not immune to the effects of a recession. During an economic downturn, businesses typically cut back on their spending, which can lead to a slowdown in demand for contact center software solutions. However, businesses recognize the importance of providing quality customer service even during difficult economic periods, and this may help to mitigate any negative effects on the market.
Key Developments Related to Contact Center Software Market
- HoduSoft, a prominent Unified Communication solutions provider in India, has recently launched an omnichannel contact center software specially designed for e-commerce and retail businesses. This cutting-edge software, known as HoduCC, allows companies to effectively manage customer interactions across multiple channels, including phone, email, text, chat, and social media, from a single platform.
- Bright Pattern, a well-known provider of cloud-based omnichannel contact center software, has joined hands with Teleconnect & Service GmbH, a leading provider of CX solutions in the DACH market. This partnership aims to offer advanced and innovative omnichannel communication solutions to businesses of all sizes.
Key Market Segmentation of Contact Center Software Market Listed Below:
Segment by Component
- Solution
- Automatic Call Distribution
- Call Recording
- Computer Telephony Integration
- Customer Collaboration
- Interactive Voice Responses
- Others
- Service
- Integration & Deployment
- Support & Maintenance
- Training & Consulting
- Managed Services
Segment by Deployment
- Hosted
- On-premise
Segment by Enterprise Size
- Large Enterprise
- Small & Medium Enterprise
Segment by End Use
- BFSI
- Consumer Goods & Retail
- Government
- Healthcare
- IT & Telecom
- Travel & Hospitality
- Others
Buy this Exclusive Study@ https://www.snsinsider.com/checkout/2415
About Us:
SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.
Complete Report Details@ https://www.snsinsider.com/reports/contact-center-software-market-2415
