Contact Center Software Market Size to Surpass USD 164.01 Billion by 2030, exhibiting a CAGR of 21.3%
As per the report by Fortune Business Insights, the global contact center software market size is projected to reach USD 164.01 billion in 2030, at a CAGR of 21.3% during the forecast period, 2023-2030
Pune, India, June 19, 2023 (GLOBE NEWSWIRE) — According to Fortune Business Insights, global contact center software market size was valued at USD 34.66 billion in 2022 and is projected to grow from USD 42.47 billion in 2023 to USD 164.01 billion by 2030, exhibiting a CAGR of 21.3% during the forecast period.
Enhancing customer experience and satisfaction is focused by companies. Customer queries are increasing due to awareness of consumer rights among the population. To resolve customer queries, companies are using advanced technologies to assist customers by contacting them via social media, emails, calls, video chats, and all other accessible platforms. Fortune Business Insights, provide this information in its report titled, Global Contact Center Software Market Forecast, 2023-2030.
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Key Industry Development:
January 2023 – NICE integrated CXone Expert with OpenAI’s generative modeling to enable consumers to resolve issues with the help of human-friendly automated self-service. With this integration, companies created CX-rich, conversational consumers without third-party agents.
Key Takeaways
- Contact center software market size in North America was USD 10.37 Billion in 2022
- Developments in Technology to Progress Contact Center Solutions
- Adoption of AI and Cloud-Integrated Software to Maximize Large Enterprises Growth
- Growing Demand for Online Trade to Spur BFSI Growth
Discover the Leading Players Featured in the Report:
“Companies leading the global contact center software market are Alcatel Lucent Enterprise (France), NEC Corporation (Japan), Mitel Networks Corporation (Canada), Bright Pattern, Inc. (U.S.), Enghouse Interactive Inc. (U.S.), Genesys Telecommunications Laboratories, Inc. (U.S.), Five9 (U.S.), 8×8, Inc. (U.S.), NICE Ltd. (Israel), 3CLogic (U.S.)”
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 21.3% |
| 2030 Value Projection | USD 164.01 Billion |
| Base Year | 2022 |
| Contact Center Software Market Size in 2022 | USD 34.66 Billion |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 160 |
| Segments covered | Deployment, Enterprise Type, End User and Geography |
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Drivers & Restraints:
Rising Deployment of Omnichannel Services to Support Market Growth
To develop strong customer relationships, companies prefer an omnichannel solution for communication. For instance, a new CX suite was introduced by Enghouse Interactive Inc. in April 2023. This suite is integrated with AI to cater to specific demands and develop consumer interactions. These advancements are anticipated to increase the contact center software market share.
On the contrary, maintenance, deployment, dedicated cyber security solutions, and other expenses result in high costs, which may impede the contact center software market growth.
Segmentation:
By Component
- Solution
- Services
By Deployment
- Cloud
- On-premise
By Enterprise Type
- Small & Medium Enterprises
- Large Enterprises
By Vertical
- Banking, Financial Services and Insurance (BFSI)
- ITES
- IT and Telecom
- Government
- Healthcare
- Consumer Goods and Retail
- Travel and Hospitality
- Media and Entertainment
By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
Regional Insights
Integration of Advanced Technologies Drive the Market in North America
North America dominates the market and is expected to grow during the forecast period. Integration of technologies such as AI, Big Data Analytics, and cloud computing is driving the region’s growth.
Expansion of service-based industries is projected to drive the Europe market during the forecast period.
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Competitive Landscape
Companies Focus on Acquisitions to Strengthen Market Position
Acquisition of small and medium vendors and development of advanced software solution by integrating automation tools and AI are the primary focus of key contact center software players. Other players in the market are focused on growing their operations and developing advanced solutions.
FAQs
How big is the contact center software market?
The contact center software market size was USD 34.66 billion in 2022. It is expected to reach USD 164.01 billion by 2030.
How fast is the contact center software market growing?
The contact center software market will exhibit a CAGR of 21.3% during the forecast period, 2023-2030.
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