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Contact Center Software Market Exhibits Strong Growth as Demand for Better Customer Support Rises, Says Fortune Business Insights

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Pune, June 04, 2020 (GLOBE NEWSWIRE) — The global contact center software is expected to exhibit a remarkable CAGR of 14.62% between 2018 and 2026 owing to increasing demand for multi-channel customer support. Key insights into this emerging market have been covered and shared by Fortune Business Insights in its report, titled “Contact Centre Software Market Size, Share and Global Trend By Component (Solutions & Services), By Organization Size (Large & Small & Medium Enterprises (SMEs)), By Deployment (Cloud & On-Premises), By Vertical (Banking, Financial Services, and Insurance, IT and Telecom, Government, and others), and Geography Forecast till 2026”.The analysis provided in the report projects that the market value of contact centre software is expected to reach US$ 48,010.0 Mn by the end of 2026. Contact centre software (also known as call centre software) enables customers to communicate with businesses they are interested or engaged in through multi-channel modes. For example, if a customer wishes to speak with a business representative, she can reach her using social media, email, telephone, text message, or live chat. Since customer solicitation, satisfaction, and retention are the most crucial aspects in running a business, development of this market has become all the more important.We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
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The global contact centre software market is set to gain impetus from the rising demand for cloud-based contact centre software. Automated contact centre solutions are seeing rising preference among organizations and also in government services. This is attributable to the fact that automatic contact centre technology eliminates the need of hiring human operators. Not only does this reduce costs for the company, but it also makes possible catering to the demands of customers in a more efficient manner. Thus, advancements in cloud-based contact centre solutions will boost the global contact centre software market.Increasing Demand in BFSI Industry to Spur Market GrowthThe Banking, Financial Services, and Insurance (BFSI) industry is increasingly demanding automated or contact centre solutions as their customer base widens. Rising number of online financial transactions and the increasing rate of fraudulent activities in the BFSI sectors has heightened the need for quick responses to customer needs and concerns. This augurs well for the global contact centre software market as it offers efficient, effective, and economic solutions for such technology-related problems.Besides BFSI, the technology is finding rising applicability in sectors such as hospitality, healthcare, government services, entertainment, and many others. These factors can positively impact the growth trajectory of the global contact centre software market.Cloud-based contact centre solutions have their share of disadvantages as well. For example, a study by Interactive Intelligence revealed that organisations had concerns regarding data security, outsourced call centres, and lack of on-site human contact as some of the reservations keeping them from adopting cloud-based software. These factors can hinder the growth of the global contact centre software market.Fierce Competition to Propel the Market    The global contact centre software market is set to witness growing competition as key players look to enhance their market presence through new product launches. For example, in June 2019, the US-based 8×8 Inc., launched a holistic cloud contact centre solution.Key players covered by Fortune Business Insights in its report include NEC Corporation, Huawei Technologies, Avaya Inc., Alcatel-Lucent Enterprise, Microsoft Corporation, Genesys, and some others.North America and Asia-Pacific to Occupy Significant Market Positions In 2018, North America generated a revenue of USD 5421.1 million and is expected to grow substantially in the forecast period. The main reasons identified for this include the presence of influential and innovative players in North America such as Microsoft. Rising investments by these companies in research and development activities will further fuel the market growth.While Asia-Pacific generated a lower revenue of USD 3412.6 million in 2018, it is expected that the region will register an impressive growth trajectory in the forecast period. This is mainly based on growing adoption of cloud-based technologies by various sectors, particularly in India and China.IntroductionResearch ScopeMarket SegmentationResearch Methodology and AssumptionsExecutive SummaryMarket DynamicsDrivers, Restraints and OpportunitiesEmerging Trends of MarketKey InsightsMacro and Micro Economic FactorsKey Technological DevelopmentsIndustry SWOT AnalysisGlobal Contact Center Software Market Analysis, Insights and Forecast, 2015-2026Key Findings / SummaryMarket Sizing Estimations and Forecasts – By Component (US$ Mn)SolutionsInteractive Voice Response (IVR)Automatic Call DistributionComputer Telephony Integration (CTI)Call RecordingReporting and AnalyticsDialerWorkforce OptimizationCustomer CollaborationOthersServicesProfessional ServicesConsultingTraining and EducationSupport and MaintenanceManaged ServicesMarket Sizing Estimations and Forecasts – By Organization Size (US$ Mn)Large EnterprisesSmall and Medium-Sized EnterprisesMarket Sizing Estimations and Forecasts – By Deployment (US$ Mn)CloudOn-PremisesMarket Sizing Estimations and Forecasts – By Vertical (US$ Mn)Banking, Financial Services, and InsuranceIT and TelecomGovernmentHealthcareConsumer Goods and RetailTravel and HospitalityMedia and EntertainmentOthersMarket Analysis, Insights and Forecast – By Geography (US$ Mn)North AmericaEuropeAsia PacificMiddle East and AfricaLatin AmericaTOC Continued..!!!
Human Capital Management Market Size, Share & Industry Analysis, By Offering (Solutions/Software and Services), By Deployment (On-Premise and Cloud), By Organization Size (SMEs and Large Enterprises), By Industry (IT & Telecom, BFSI, Government, Retail, Healthcare, Education, Manufacturing, Others) and Regional Forecast, 2019 – 20265G Infrastructure Market Size, Share and Industry Analysis By Component (Fibers, Cables, Antenna, Transceiver, Wireless Backhaul, Modem, Router), By Communication Infrastructure (Small Cell, Macro Cell, Radio Access Network (RAN), Distributed Antenna System (DAS)), and Regional Forecast 2019-2026Mobile Virtual Network Operators Market Size, Share and Industry Analysis by Operational Model (Reseller MVNO, Service Provider MVNO, Full MVNO), Service Type (Postpaid, Prepaid), Subscriber (Business, Individual/Residential) and Regional Forecast 2018-2025
About Us:Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in. Contact Us:
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