The global contact center software market size is expected to reach USD 47.77 billion by 2025, according to a new report by Grand View Research, Inc. The market is estimated to grow at a rate of 15.6% during the forecast years. Increasing adoption of cloud-based services, social media, and mobile analytics along with growing consumer base is projected to boost the market expansion.
Various technological advancements have resulted in the introduction of Business Process Automation, thereby, reducing the workload of customer care representatives. For example, advent of Interactive Voice Response (IVR) and Automatic Call Distribution (ACD) software has helped customer-centric organizations in increasing their productivity.
Growing adoption of cloud-based contact center services has allowed organizations in reinforcing the security of confidential information through web security and centralized database. Additionally, cloud-based contact center services provide multiple customer points of contact, which allow remote access to the necessary data.
With the competition intensifying over the years, it has become crucial for organizations to maintain stable and consistent relationships with their customers and ensure customer loyalty. Thus, many companies are adopting contact center software in order to improve the levels of customer satisfaction and experience.
The global market is projected to expand at a remarkable CAGR of 15.6% over the forecast period. This growth is attributed to the rising demand for cloud-based technology and need for improved customer satisfaction
Customer collaboration segment is projected register a CAGR of 23.7% over the forecast period due to growing use of the solution for engaging customers through social media platforms
Interactive Voice Response (IVR) software segment is expected to hold the largest market share in 2025, owing to its features such as reduced amount of call drops and improved customer satisfaction
Technical advancements in communication and collaboration application result in an increased demand for training and consulting services. The market for these services is projected to grow at a rate of 17.4% over the forecast years
The hosted deployment segment is expected to reach USD 22.64 billion by 2025 as it provides remote accessibility and can be easily deployed and integrated with other systems
Asia Pacific regional market is projected reach at USD 10.48 billion by 2025, owing to rapid digitization and industrialization initiatives undertaken by the local governments in this region
Major companies operating in the contact center software market include Avaya, Inc.; SAP SE; Enghouse Interactive; Five9, Inc.; Mitel Corporation; Alcatel Lucent Enterprise; Cisco Systems; and Unify, Inc.
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Grand View Research has segmented the global contact center software market on the basis of solution, service, deployment, enterprise size, end use, and region:
Contact Center Software Solution Outlook (Revenue, USD Million, 2014 - 2025)
Automatic Call Distribution (ACD)
Computer Telephony Integration (CTI)
Interactive Voice Responses (IVR)
Reporting & Analytics
Contact Center Software Service Outlook (Revenue, USD Million, 2014 - 2025)
Integration & Deployment
Support & Maintenance
Training & Consulting
Contact Center Software Deployment Outlook (Revenue, USD Million, 2014 - 2025)
Contact Center Software Enterprise Size Outlook (Revenue, USD Million, 2014 - 2025)
Small & Medium Enterprise (SME)
Contact Center Software End-use Outlook (Revenue, USD Million, 2014 - 2025)
Banking, Financial Services, and Insurance (BFSI)
Consumer Goods & Retail
IT & Telecom
Traveling & Hospitality
Contact Center Software Regional Outlook (Revenue, USD Million, 2014 - 2025)
Middle East & Africa
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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