Contact Center Software Market Trends, Size, Share, Growth, Industry Analysis, Advance Technology and Forecast 2027

August 03 09:46 2022
Contact Center Software Market Trends, Size, Share, Growth, Industry Analysis, Advance Technology and Forecast 2027
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.
Contact Center Software Market by Component (Solutions and Services), Deployment Model (Cloud and On-Premises), Organization Size ( Large and Small and Medium-Sized Enterprises), Industry and Region – Global Forecast to 2027

The Contact Center Software Market size is expected to grow at a Compound Annual Growth Rate (CAGR) of 21.6% during the forecast period, to reach USD 93.7 billion by 2027 from USD 35.2 billion in 2022.

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Services help organizations in effective integration and implementation of Contact Center Software software with the existing in-house infrastructure

The services segment of Contact Center Software is expected to have a promising future due to various integration of contact center solutions. Services help organizations in building successful customer relationships by continuously supporting them through their business tenure. The growing need for integrating Contact Center Software with other enterprise business applications to drive the growth of Contact Center Software services. These services offered by vendors help users select the best Contact Center Software software, which is appropriate to their business needs.

Scope of the Report

Report Metrics

Details

Market size available for years

2022-2027

Base year considered

2021

Forecast period

2022-2027

Forecast units

Value (USD Million/Billion)

Segments covered

Components (Solution and Services), Deployment Models, Organization Size, Industries, and Regions

Regions covered

North America, Europe, Asia Pacific, Middle East & Africa, and Latin America

Companies covered

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.

The Cloud-based Contact Center Software solutions help reduce the overall costs and provide highly flexible and scalable access to solutions through the IT infrastructure hosted by the cloud service provider.

The rising shift from on-premises to cloud infrastructure is increasing the demand for Contact Center Software solutions which is mainly due to various benefits of the cloud that include 24×7 data accessibility, rapid implementation, reduced setup, and operational cost, which is Capital Expenditure (CAPEX) and Operating Expense (OPEX), less maintenance cost, scalability, and ease of use for a company with limited IT staff and budget. The adoption of cloud deployment has increased over the five years, especially in SMEs.

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The major players have implemented various growth strategies to expand their global presence and increase their market shares. Key players such as Genesys, IBM, AWS, Five9, and Twilio have majorly adopted many growth strategies, such as new product launches, acquisitions, and partnerships, to expand their product portfolios and grow further in the Contact Center Software market.

Genesys offers an exhaustive product portfolio and best-in-class tailored offerings to customers. Hence, the company has witnessed new bookings growth of more than 40% in every quarter of 2020, especially due to the strong progress of its cloud platforms that has enhanced its market share in the contact center software market. Moreover, in January 2020, Genesys rebranded its flagship SaaS offering PureCloud to Genesys Cloud to mark the launch of experience as a service via its cloud platform with a new pricing model. Genesys Cloud offers a flexible environment to meet customer needs with capabilities including call center software, digital sales and service automation, workforce engagement and management, reporting and analytics, and integration and apps. Genesys offers consolidated contact centers and business communications in the all-in-one platform. The company is a pioneer in AI and has a strong focus on intelligent automation as compared to others. In AI, Genesys provides an early adopter program that features Google Contact Center capabilities such as predictive routing.

Five9 has a broad technology portfolio of contact center products, solutions, and services. Hence, it encounters strong competition in all areas of business due to the presence of many big competitors in the contact center software market. The company focuses on delivering its platform on the cloud and is disrupting a significantly large market by replacing legacy on-premises contact center systems with cloud-based contact centers. Furthermore, it has developed a high velocity, metrics-driven sales, and marketing strategy, designed to effectively identify, qualify, and grab sales opportunities. The sales model adopted by Five9 consists of a field sales team and a tele-sales team that sell its solutions. Five9 has also developed a large ecosystem of technology and system integrator partners and independent software vendors to help increase awareness about its solution in the market and drive incremental sales opportunities with new and existing clients.

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