Contact Center Software Market Outlook: Development Factors, Latest Opportunities and Forecast 2024
Category: #tech  By Partha Ray  Date: 2019-07-10
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Contact Center Software Market Outlook: Development Factors, Latest Opportunities and Forecast 2024

 

Market Study Report: The Report entitled 2018-2024 Global Contact Center Software Market Report explores the essential factors of the Contact Center Software market considering such as industry situations, market demands, market players adopted business strategies and their growth scenario. The Global Contact Center Software market has been separated by this report based on the key players profiles, Type, Application and Regions.

 


The Latin America contact center market is projected to cross over USD 3 billion over the forecast timeframe. The regional growth is attributed to the rising adoption of new technologies including cloud computing, speech recognition, analytics, and AI accompanied by an increase in the demand for augmented customer experience. Various industry verticals including healthcare, telecommunications, and retail are investing in the Latin America contact center software market to deliver an omnichannel communication experience to its customers. The adoption of cloud-based contact centers in this region is still in the nascent stage with major development witnessed mainly in Argentina, Brazil, Mexico, Chile, and Peru. Its adoption is anticipated to grow over the forecast period, mainly in the regions of Colombia and Costa Rica, driving the contact center software market growth.


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Contact Center Software Market is projected to surpass USD 40 billion by 2024. The growing demand for meeting dynamic customer requirements, technological advancements in the field of machine learning, AI, and IoT, and the rising integration with social media platforms are the major factors driving the global contact center software market growth. The increasing demand for cloud-based contact center software solutions by various industry verticals including BFSI, healthcare, IT & Telecom, travel and hospitality, and government organizations also has a positive impact on the market.
 

The cloud-based deployment model is projected to account for around 29% of the market share by 2024. The cloud model provides contact centers access to various channels and the latest technologies with the ability to scale agents up and down as per requirement. It also reduces support costs and removes the expenses for upgrades, ensuring smooth business functioning with a rapid growth in ROI. It provides end-to-end visibility, providing the operations staff and clients a comprehensive set of historical data, real-time dashboards, and performance and quality management tools. This provides organizations with critical insights, allowing them to take the necessary steps to meet the changing customer requirements.


The Interactive Voice Response (IVR) segment dominates the contact center software market and accounted for over 15% of the market share in 2017. The rising adoption of smartphones by customers has replaced the traditional voice-based IVR with the visual IVR technology. This transformative platform allows customers to touch the screen menus and to get their required answers instead of waiting for the traditional IVR to read the unwanted options not required by customers. This visual IVR software handles around 75% of the customer service calls thereby transforming the functioning of contact center and leading to customer delight.


The managed services for contact center software are growing at a fast rate and are projected to grow at a CAGR of over 21% over the forecast period. By providing the right knowledge and experience required to make critical contact center software technologies, the managed service providers augment the customers? internal capabilities by using the resources more effectively. The managed service providers carry out the regular installation of all software updates associated with the contact center environment, ensuring that the communication servers are secured and updated timely, driving the contact center software market demand.


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The managed services for contact center software are growing at a fast rate and are projected to grow at a CAGR of over 21% over the forecast period. By providing the right knowledge and experience required to make critical contact center software technologies, the managed service providers augment the customers? internal capabilities by using the resources more effectively. The managed service providers carry out the regular installation of all software updates associated with the contact center environment, ensuring that the communication servers are secured and updated timely, driving the contact center software market demand.
 

Major companies participating in the mining machinery market are Avaya, Alcatel-Lucent Enterprise, Ameyo, Aspect Software, BT, Enghouse Interactive, Fenero, Five9, Genesys,Huawei Technologies,IBM, Mitel, NEC,Nice, Nixxis, Oracle, Ring Central,SAP,Solgari,Top Down Systems, Unify, Verizon, Vocalcom.


Table of Content:

Chapter 1. Methodology & Scope

Chapter 2. Executive Summary

Chapter 3. Contact Center Software Industry Insights

Chapter 4. Competitive Landscape, 2017

Chapter 5. Contact Center Software Market, By Component

Chapter 6. Contact Center Software Market, By Deployment Model

Chapter 7. Contact Center Software Market, By Application

Chapter 8. Contact Center Software Market, By Region

Chapter 9. Company Profiles

For More Details about this report: https://www.marketstudyreport.com/reports/contact-center-software-market

Related Report:
 

Global Contact Center Software Market 2018 by Manufacturers, Countries, Type and Application, Forecast to 2023
 

This report studies the Contact Center Software market status and outlook of Global and major regions, from angles of players, countries, product types and end industries; this report analyzes the top players in global market, and splits the Contact Center Software market by product type and applications/end industries. The global Contact Center Software market is valued at xx million in 2017 and is expected to reach xx million by the end of 2023, growing at a CAGR of 13.5% between 2017 and 2023.
 

https://www.marketstudyreport.com/reports/global-contact-center-software-market-2018-by-manufacturers-countries-type-and-application-forecast-to-2023/?utm_source=RR-PSR   
 

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About Author

Partha Ray    

Partha Ray

Partha is into digital marketing since the last 3 years and has worked on multiple projects across various industries. An Computer Science engineer by education, he has prior experience in software development. His other interests include playing cricket & Hockey.

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