Contact Center Software Market Is Set For A Potential Growth And Is Expected To Bench Mark In $47.76 Billion By 2025: Grand View Research, Inc.

June 06 15:22 2019
Contact Center Software Market Is Set For A Potential Growth And Is Expected To Bench Mark In $47.76 Billion By 2025: Grand View Research, Inc.

Grand View Research, Inc. – Market Research And Consulting.
According to report published by Grand View Research, The emergence of the omnichannel customer experience towards contact center software is expected to accelerate the growth of Contact Center Software Market.

According to a report “Contact Center Software Market Size, Share & Trends Analysis Report, By Solution, By Service, By Deployment, By Enterprise Size, By End Use, By Region, And Segment Forecasts, 2019 – 2025”, published by Grand View Research, Inc. The global contact center software market size is expected to reach USD 47.76 billion by 2025, according to a new report by Grand View Research, Inc. Increasing consumer base and high adoption rate of cloud-based services, social media, and mobile analytics among various industry sectors is projected to boost the growth.

Rapid technological advancements resulted in introduction of the Business Process Automation (BPA), thereby, reducing the workload of customer care representatives. The availability of Interactive Voice Response (IVR) and Automatic Call Distribution (ACD) software has resulted in an increase in productivity of customer-centric organizations.

Increased adoption of cloud-based contact center services has empowered organizations in reinforcing the security of customers’ confidential information through web security and centralized database. Additionally, cloud-based contact center services provide multiple customer point of contact, which allow access to the necessary data from anywhere and at any time across the globe.

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. Various companies are extensively adopting contact center software to improve customer satisfaction levels and their experience over the inquiry call. 

Further key findings from the report suggest:

  • The customer collaboration segment is projected to expand at a CAGR of 25.7% from 2019 to 2025 due to the growing use of the solution for engaging customers through social media platforms
  • The Interactive Voice Response (IVR) software segment is expected to hold the largest market share by 2025, owing to features such as reduced amount of call drops and better customer satisfaction levels
  • Technical advancements in communication and collaboration application result in an increased demand for training and consulting services, as professionals and customers are required to be trained to understand and get knowledge about new applications. The segment is projected to grow at a CAGR 19.3% over the forecast period
  • The hosted deployment segment is expected to witness increased demand over the forecast period on account of benefits such as ease of deployment, accessibility from anywhere anytime, and simplicity in integration with other systems. The segment is anticipated to reach USD 22.64 billion by 2025
  • Numerous large enterprises have adopted contact center solutions to efficiently manage the vast database of customers; thereby driving the demand for contact center solutions in large enterprises over the forecast period
  • Demand for contact center software and services in the retail segment is driven by the rising need among organizations to ensure satisfaction of customers and overcome challenges involved in customer retention processes
  • Asia Pacific is projected to witness considerable growth and reach USD 10,489.0 million by 2025, owing to the rapid digitization and industrialization initiatives undertaken by the government in this region.
  • Major players 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.

 U.S. contact center software market size, by solution, 2014 - 2025 (USD Billion)

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Grand View Research has segmented the global contact center software market based on solution, service, deployment, enterprise size, end use, and region:

Contact Center Software Solution Outlook (Revenue, USD Million, 2014 – 2025)

  • Automatic Call Distribution (ACD)
  • Call Recording
  • Computer Telephony Integration (CTI)
  • Customer Collaboration
  • Dialer
  • Interactive Voice Responses (IVR)
  • Reporting & Analytics
  • Workforce Optimization
  • Others

Contact Center Software Service Outlook (Revenue, USD Million, 2014 – 2025)

  • Integration & Deployment
  • Support & Maintenance
  • Training & Consulting
  • Managed Services

Contact Center Software Deployment Outlook (Revenue, USD Million, 2014 – 2025)

  • Hosted
  • On-premise

Contact Center Software Enterprise Size Outlook (Revenue, USD Million; 2014 – 2025)

  • Large Enterprise
  • Small & Medium Enterprise

Contact Center Software End Use Outlook (Revenue, USD Million, 2014 – 2025)

  • Banking, Financial Services, and Insurance (BFSI)
  • Consumer Goods & Retail
  • Government
  • Healthcare
  • IT & Telecom
  • Traveling & Hospitality
  • Others

Contact Center Software Regional Outlook (Revenue, USD Million, 2014 – 2025)

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
  • Asia Pacific
    • China
    • India
    • Japan
  • Latin America
    • Brazil
  • Middle East & Africa

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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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