Contact Center Software Market Worth $93.7 Billion by 2027 – Exclusive Report by MarketsandMarkets™

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MarketsandMarkets Research Pvt. ltd.

Chicago, Aug. 05, 2022 (GLOBE NEWSWIRE) — The contact center software market size is expected to grow from USD 35.2 billion in 2022 to USD 93.7 billion by 2027, at a compound annual growth rate (CAGR) of 21.6% during the forecast period, according to a new report from MarketsandMarkets™. Growing adoption of work-from-home culture, advancements in virtual and cloud-based contact center technologies and solutions are a few factors driving the growth of the contact center software market.

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Services help organizations efficiently integrate and implement contact center software with existing internal infrastructure

The Contact Center Software services segment is expected to have a promising future owing to various contact center solution integrations. Services help organizations build successful customer relationships by continuously supporting them throughout their business tenure. The growing need to integrate contact center software with other business applications to drive the growth of contact center software services. These vendor-provided services help users select the best contact center software that suits their business needs.

Cloud-based contact center software solutions help reduce overall costs and provide highly flexible and scalable access to solutions through the IT infrastructure hosted by the cloud service provider.

The increasing shift from on-premise infrastructure to cloud infrastructure is increasing the demand for contact center software solutions, mainly due to the various advantages of the cloud, including 24/7 data accessibility, rapid implementation, reduced configuration and operational costs, representing capital expenditure (CAPEX) and operating expenditure (OPEX), less maintenance costs, scalability and ease of use for a company with a limited IT staff and budget. Adoption of cloud deployment has increased over the past five years, especially in SMBs.

SMBs have started adopting contact center solutions to reduce CAPEX and OPEX related to maintaining contact centers and their performance

The growing implementation of customer service solutions by SMBs across the globe is expected to drive the market growth over the forecast period. Small and medium-sized businesses are embracing contact center solutions to ease the burden of performing routine tasks while allowing agents to focus on organizational development.

Growing focus on improving customer experience is driving demand for omnichannel routing, which is driving demand for contact center software solutions

The retail and consumer goods vertical is expected to grow at the highest rate during the forecast period. The retail and consumer goods industry is highly customer-centric, and companies are adopting various penetration strategies and enabling technologies to improve customer experience and improve customer retention. These contact center solutions help businesses and retailers establish personalized customer interactions and build strong customer relationships.

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North America will dominate the contact center software market in 2022

North America is one of the most technologically advanced regions in the world. Adoption of the Contact Center Software solution is expected to be highest in North America compared to other regions. Additionally, organizations in North American countries are investing heavily in emerging technologies, such as big data, analytics, and cloud platforms. The focus on increasing efficiency by improving various outbound and inbound operations has also increased among large as well as small and medium enterprises in the region. The omni-channel approach to sales, which is gaining popularity, coupled with the rapid growth of the e-commerce industry, is expected to further increase the growth of the regional market.

Market players

The big players for Contact Center Software Market Some of the major vendors offering contact center solutions across the globe include IBM (US), Genesys (US), AWS (US), Five9 (US), Twilio (US) , Mitel (Canada), Cisco (US), BT (UK), Verizon (US), Avaya (US), Vonage (US), 8×8 (US), Atos ( France), Talkdesk (US), NICE (Israel), Alcatel Lucent Enterprise (France) and more.

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