Contact Center Software Market Growing at CAGR of 14.9% | Key Players Aspect, Avaya, Cisco, Genesys, IBM

(IT-NEWSWIRE.COM, October 30, 2019 ) The global Contact Center Software market size was USD 15.63 billion in 2017 and is projected to reach USD 35.32 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 14.9% during 2018-2023, as per a report by MarketsandMarkets.

Many companies have adopted contact center solutions across the globe to meet the growing need for addressing dynamic customer requirements. The increasing adoption of contact center solutions empowers organizations to communicate and collaborate effectively through multiple channels, including voice, video, web, and social media.

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Adoption of artificial intelligence and analytics in the contact center market has opened new realms of opportunities for the vendors to provide seamless customer experience. By making proper use of these technologies, enterprises have access to information and insights that can drive business decisions. Artificial intelligence is being used to develop bots and automated messaging, and this has had a positive impact on the operational efficiency of contact centers. Analytics provides both customer and employee insights to enterprises and they can use this information to address issues related to customer experience or employee performance. Contact centers have realized the benefits and potential of adopting these technologies and have started implementing them into their systems.

Data privacy laws in some parts of the world are making it difficult for enterprises to conduct their business operations. Throughout the world, new data privacy and regulation policies such as General Data Protection Regulation (GDPR) are coming into effect, and these have to be incorporated into the regular functioning of enterprises. Contact centers involve processes that make use of data from various sources such as internal databases. This data might contain personal user information; hence, special caution should be maintained while integrating data from different sources, to be compliant with these regulations.

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Major vendors of the contact center software market include 3CLogic (US), 8x8 (US), Alcatel-Lucent Enterprise (France), Ameyo (Drishti-Soft; India), Aspect Software (US), Avaya (US), BT (England), Cisco (US), Enghouse Interactive (US), Fenero (US), Five9 (US), Genesys (US), Huawei (China), IBM (US), Mitel (Canada), NEC (Japan), NICE (Israel), Oracle (US), RingCentral (US), SAP (Germany), Solgari (Ireland), Unify (Germany), Verizon (US), Vocalcom (France), West Corporation (US), Zendesk (US), and ZTE (China).These players have adopted various growth strategies, such as partnerships, collaborations, agreements, mergers and acquisitions, and new product developments, to further grow in the contact center software market.

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Mr. Shelly Singh

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Contact Center Software Market Growing at CAGR of 14.9% | Key Players Aspect, Avaya, Cisco, Genesys, IBM