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Contact Center Software Market to Reach USD 48,010.0 Million by 2026; Need of Omnichannel Customer Support to Aid Growth: Fortune Business Insights™

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Pune, June 16, 2020 (GLOBE NEWSWIRE) — The global contact center software market is set to gain traction from its increasing usage in the business sector. It helps in addressing the surging importance of providing enhanced and omnichannel customer support for generating more sales. This information is given by Fortune Business Insights™ in a recent report, titled, “Contact Center Software Market Size, Share and Industry Analysis 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 Regional Forecast, 2019-2026.” The report further states that the contact center software market size stood at USD 16,750.7 million in 2018 and is projected to reach USD 48,010.0 million by the end of 2026, thereby exhibiting a CAGR of 14.62% in the forecast period.
This Report Answers the Following Questions:What are the market dynamics, drivers, and hindrances?Which are the top companies present in the market?How are the organizations aiming to increase sales of contact center software amidst the COVID-19 pandemic?Which segment is likely to hold the largest share in the near future?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.Please visit: https://www.fortunebusinessinsights.com/industry-reports/contact-center-software-market-100840
 A Need to Maintain Stable Relationships with Clients will Favor GrowthAt present, a consumer is considered to be a vital part of the business sector. The consumers are nowadays expecting the companies to be present on several channels for providing them with skilled and continuous services. Contact center software solutions come to the rescue when there is a need of regularization of customer support. These solutions also aid in increasing the requirements of the customers. Several companies worldwide are investing huge sums to deploy contact center software to refine the consumer experience and satisfaction with the help of inquiry calls.Moreover, contact center software solutions offer more benefits, as compared to the call centers. Some of their important features consist of advanced call distribution, direct website interface, fax services, text chats, emails, and VoIP telephone services. These are aimed at providing customized services to the consumers. Overall, the urgent need to maintain a coherent and stable relationship with the clients and to ensure consumer loyalty would contribute to the contact center software market growth in the coming years.Segment-Solutions Segment to Grow Steadily Owing to Their Adoption in Various IndustriesBased on component, the market is bifurcated into solutions and services. In terms of solutions, the market is further segregated into customer collaboration, workforce optimization, dialer, reporting and analytics, call recording, computer telephony integration (CTI), automatic call distribution, interactive voice response (IVR), and others. Out of these, the automatic call distribution segment held 17.3% contact center software market share in 2018. The solutions segment is anticipated to gain momentum from their ability to help in solving queries across a wide range of industries, such as hospitality, travel, government, healthcare, as well as media & entertainment.
Regional Analysis-North America to Dominate Stoked by Presence of Several Prominent Companies in the U.S. North America held USD 5421.1 million in terms of revenue in 2018. It is expected to dominate the market throughout the forthcoming years owing to the presence of numerous industry giants in the U.S. They are constantly conducting research and development activities to deploy contact center software solutions in a variety of private and public organizations.Asia Pacific, on the other hand, procured USD 3412.6 revenue in 2018 backed by the rising investments in implementing technologically advanced cloud-based software by the small and medium organizations. Additionally, the ongoing advancements in the developing countries, such as India and China would contribute to the market growth in this region.Competitive Landscape-Key Players Focus on Launching New Platforms to Gain Competitive EdgeThe market consists of a large number of companies that are working to gain a competitive edge in the market. To do so, they are adopting numerous strategies, such as mergers and acquisitions, investments, and launch of unique contact center software solutions. Below are two of the latest industry developments:June 2019: 8×8, Inc. declared the availability of its contact center solution globally. It would deliver the organizations with services, such as knowledge & survey databases, speech analytics, quality management, IVR, customer journey analytics, omnichannel, reporting, ACD, and dialer on a single platform.April 2019: Genesys announced the integration of Google Cloud Contact Center AI with its existing platforms, namely, PureCloud®, PureConnect™, and PureEngage™. It is helping numerous companies to leverage this technology through its adopter program.
Fortune Business Insights™ presents a list of all the contact center software solution providers operating in the global market. They are as follows:Alcatel-Lucent EnterpriseAvaya, Inc.Cisco SystemsEnghouse Interactive, Inc.Five9, Inc.GenesysMicrosoft CorporationNEC CorporationMitel CorporationSAP SENice Systems Ltd.Huawei Technologies Co., Ltd.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..!!!
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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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