Contact Center Software Market (By Solution: Automatic Call Distribution, Computer Telephony Integration, Call Recording, Dialer, Customer Collaboration, Reporting & Analytics, Interactive Voice Responses, Workforce Optimization, Others; By Service: Integration & Deployment, Support & Maintenance, Training & Consulting, Managed Services; By Deployment: Hosted, On-premise; By Enterprise Size; By End-User) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2032

The global contact center software market size was exhibited at USD 42.67 billion in 2022 and is projected to hit around USD 173.9 billion by 2032, growing at a CAGR of 19.2% during the forecast period 2023 to 2032.

Key Pointers:

• By solutions, the interactive voice response solution segment is expected to reach at a CAGR of 16.5% from 2023 to 2032.
• By services, the integration and deployment service segment is poised to grow at a CAGR of 21.6%.
• By enterprise size, the large enterprise segment is predicted to reach at a CAGR of 19.7%.
• By end-user, the IT and telecom industry is expected to witness at a CAGR of 18.5%.

The rising adoption of advanced contact center technologies is one of the primary factors driving the market growth. Moreover, the increasing adoption of virtual and cloud-based contact center solutions during and post-COVID-19 are driving the adoption of Contact Center Software solutions.

Contact Center Software Market Report Scope

COVID-19 Impact

Contact centers offering information regarding travel and healthcare significantly increased. Contact centers deployed automated techniques such as chatbots, AI, and natural language processing to help caller with first contact resolution. The pandemic also impacted consumer behavior. This has led to the adoption of chatbots, emails, and chats while most customers prefer talking to human agents. This has also boosted digital transformation across industries. Hence, contact center solutions are becoming a strategic solution and, in many instances, it can be considered a brand's face.

Contact Center Software Market Dynamics

Driver: Role of social media in contact center operations

Modern contact center solution providers focus on providing organizations with social media capabilities to handle queries that originate from social media to assess brand value and brand impact, and to reduce costs and complexities associated with abandoned queries and customer turnovers. Social media plays a key role in identifying social media influencers, word of mouth, emotion, and sentiments, and brand image to improve the overall efficiency of contact center agents and offered services or products. Also, customers have a favorable take on companies that respond to customer queries and comments on social media. According to Microsoft's 2018 State of Global Customer Service Report, 59% of surveyed respondents have a favorable view of the brand that responds to customer service questions and complaints on social media. This adds to the incorporation of social media channels in contact centers.

Restraint: Inadequate network bandwidth minimizes the adoption of VoIP and cloud-based telephony

With growing digitalization, many contact centers plan to improve their communication processes with VoIP systems and cloud telephony platforms. Added benefits of modern VoIP systems and cloud telephony platforms requiring no use of special hardware and easy-to-switch locations make them a preferred choice of communication across contact centers. However, enterprises facing a lack of bandwidth issues find it tough to address challenges of poor voice quality, network jitters, improperly configured internal networks and security issues. These problems need to be properly taken care of by enterprises, while using Voice over Internet Protocol (VoIP) systems and cloud telephony platforms to efficiently cater to customers, which is why economies facing fluctuating network bandwidth refrain from using VoIP and cloud telephony services. The slowest internet speeds are clustered in parts of MEA and Latin America. Hence, the adoption of contact center solutions is expected to be the lowest in these regions.

Opportunity: Growing demand for analyzing audio and video conversations

Speech and video analytics encompass tone, emotion, and sentiment detection analytics that would help contact centers understand customers' key pain points, build loyalty, and enhance the customer experience. Hence, speech recognition and call analytics are gaining popularity in the contact center software market as they enable enterprises to collect, structure effectively, and analyze large volumes of customer and prospect data passing through their front offices and to know their customers better way closely.

The speech and video analytics technology help contact centers analyze audio and video conversations in real time, by automating a range of operational processes, including call and video recording, speech recognition and transcription, emotion detection and analysis, search by keywords and extraction of actionable insights, conversation quality management, behavioral analysis, and other forms of data analysis. As the insights gained from incorporating video and speech analytics would enable contact centers to improve customer satisfaction levels, contact center companies are increasingly partnering with video conferencing companies and contact center AI and speech analytics technology providers. Challenge: Barriers to moving contact centers to cloud environments

 The cloud is constantly becoming a popular deployment option among contact centers, especially in the post-COVID-19 chaos, with more employees working remotely and profit margins declining considerably. Most of companies have shifted or are planning to shift their contact centers completely to the cloud as it offers several benefits, such as improved flexibility, cost reduction, real-time control, continuous innovation, integrated reporting, and manageable multi-site contact centers. Despite such benefits, the fear of losing control and security and issues associated with storage, retention, continuous accessibility, and portability, resist companies from moving completely to the cloud.

However, the availability of private cloud options, benefits of implementation and integration as well as training, support, and maintenance services, and growing compliance adherence with regulations (but not limited to), such as HIPAA, PCI DSS, SOC, GDPR, and OFCOM by the cloud contact providers are the barriers in moving to cloud environments.

Some of the prominent players in the Contact Center Software Market include:

• 8X8, Inc.
• ALE International
• Altivon
• Amazon Web Services, Inc.
• Ameyo
• Amtelco
• Aspect Software
• Avaya Inc.
• Avoxi
• Cisco Systems, Inc.
• Enghouse Interactive Inc.
• Exotel Techcom Pvt. Ltd.
• Five9, Inc.
• Genesys
• Microsoft Corp.
• NEC Corp.
• SAP SE
• Spok, Inc.
• Talkdesk, Inc.
• Twilio Inc.
• UiPath
• Unify Inc.
• VCC Live

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2032. For this study, Nova one advisor, Inc. has segmented the global Contact Center Software market.

By Solution

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

By Service

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

By Deployment

• Hosted
• On-premise

By Enterprise Size

• Large Enterprises
• Small and Medium-Sized Enterprises

By End-User

• Healthcare
• BFSI
• Government
• Consumer Goods and Retail
• Travel and Hospitality
• IT and Telecom
• Others

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)