Contact Center Software Market to be Worth $149.58 Billion by 2030: Grand View Research, Inc.

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Jul 10, 2023, 05:30 ET

SAN FRANCISCO, July 10, 2023 /PRNewswire/ -- The global contact center software market size is expected to reach USD 149.58 billion by 2030, expanding at a CAGR of 23.9% from 2023 to 2030, according to a new report by Grand View Research, Inc. The contact center software market encompasses software and services used by organizations to streamline business processes and enhance customer interactions. It involves real-time call monitoring, agent assignment, and centralized reporting for improved efficiency. Contact center software plays a crucial role in facilitating effective communication between contact center workers and clients, leading to enhanced productivity.

Key Industry Insights & Findings from the report:

The customer collaboration segment is expected to witness significant growth over the forecast period. Customer collaboration solutions are widely used by businesses to streamline communication between customers and relevant departments. Customer collaboration tools are instant, effective, and convenient to use and can potentially simplify two-way interaction. Businesses are adopting customer collaboration solutions to quickly track, receive, and resolve customer support queries.
The managed services segment is expected to witness significant growth over the forecast period. Managed services help in managing business infrastructure and application platforms. These services can particularly help the customer service team in quickly identifying faults, isolating the root cause of infrastructure outages, and subsequently, working more reliably and efficiently. Businesses opt for managed services to effectively manage their complex IT infrastructure.
The growing expenses being incurred on on-premise systems amid a highly competitive business environment are prompting businesses to switch to cloud-based solutions. Cloud-based contact center solutions can effectively handle all outbound and inbound communications while offering an all-inclusive suite of applications and tools that can allow businesses to deliver efficient customer service across multiple channels, including SMS, email, voice, and social media.
The increasing adoption of emerging technologies by large enterprises to automate repetitive tasks and improve operational efficiency is driving the demand for contact center solutions in large enterprises. As organizations strive to enhance productivity and streamline their customer service operations, the need for advanced contact center solutions is projected to grow significantly.
Consumer goods and retail businesses are focusing on strengthening their multichannel interactions with employees and customers. The rising popularity of online shopping is further driving the need for continuous customer service facilities, which in turn, is expected to propel the adoption of contact center solutions by the incumbents of the consumer goods & retail industry.
Asia Pacific is anticipated to emerge as the fastest-growing regional market owing to a broader customer base and the presence of a substantial number of small and medium enterprises in the region. Intensifying competition between the local and international companies is also expected to propel the adoption of contact center solutions.

Read 120 page market research report, "Contact Center Software Market Size, Share & Trends Analysis Report By Solution, By Service, By Deployment (Hosted, On-premise), By Enterprise Size, By End-use (BFSI, Government, Healthcare, IT & Telecom), By Region, And Segment Forecasts, 2023 - 2030", published by Grand View Research.

Contact Center Software Market Growth & Trends

The strong emphasis businesses are putting on leveraging the advances in the latest technologies and integrating Artificial Intelligence (AI) and machine learning into their business processes is expected to drive the market further. For instance, in May 2023, Anthropic, an AI safety and research company, and Zoom, a video communication platform provider, established a partnership where Anthropic's generative AI model would be integrated into Zoom's Contact Center portfolio. As part of this collaboration, Zoom also made an investment in Anthropic, although specific details regarding the amount and terms of the investment were not disclosed.

The adoption of advanced technologies such as cloud-based solutions and AI has emerged as a key driver for the contact center software market. Cloud-based solutions offer scalability, flexibility, and cost-effectiveness, allowing organizations to easily manage and scale their contact center operations. AI-powered features like chatbots, natural language processing, and sentiment analysis enhance customer interactions by providing personalized and efficient support. These technologies not only improve customer satisfaction but also contribute to operational efficiency, enabling contact centers to handle a higher volume of inquiries and optimize agent productivity.

The COVID-19 pandemic has had a significant positive impact on the contact center software market. With the sudden shift towards remote work and the need for virtual customer service solutions, organizations across various industries have turned to contact center software to ensure uninterrupted customer support. The pandemic has highlighted the importance of robust and flexible contact center solutions that can be accessed remotely. As a result, businesses have invested heavily in contact center software to enable their agents to work from home and continue providing seamless customer service.

Contact Center Software Market Report Scope

Report Attribute	Details
Market size value in 2023	USD 33.38 billion
Revenue forecast in 2030	USD 149.58 billion
Growth rate	CAGR of 23.9% from 2023 to 2030
Base year of estimation	2022
Historical data	2017 - 2021
Forecast period	2023 - 2030

Contact Center Software Market Segmentation

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

Contact Center Software Market - Solution Outlook (Revenue, USD Billion, 2017 - 2030)

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 Market - Service Outlook (Revenue, USD Billion, 2017 - 2030)

Integration & Deployment
Support & Maintenance
Training & Consulting
Managed Services

Contact Center Software Market - Deployment Outlook (Revenue, USD Billion, 2017 - 2030)

Hosted
On-premise

Contact Center Software Market - Enterprise Size Outlook (Revenue, USD Billion, 2017 - 2030)

Large Enterprise
Small & Medium Enterprise

Contact Center Software Market - End-use Outlook (Revenue, USD Billion, 2017 - 2030)

BFSI
Consumer Goods & Retail
Government
Healthcare
IT & Telecom
Traveling & Hospitality
Others

Contact Center Software Market - Regional Outlook (Revenue, USD Billion, 2017 - 2030)

North America

U.S.
Canada

Europe

Germany
U.K.
Spain
France

Asia Pacific

China
India
Japan
South Korea
Australia

Latin America

Brazil
Mexico

Middle East & Africa

Kingdom of Saudi Arabia (KSA)
UAE
South Africa

List of Key Players in the Contact Center Software Market

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 Corporation
NEC Corporation
SAP SE
Spok, Inc.
Talkdesk, Inc.
Twilio Inc.
UiPath
Unify Inc.
VCC Live

Check out more related studies published by Grand View Research:

Contact Center As A Service (CCaaS) Market - The global contact center as a service market size is expected to reach USD 17.12 billion by 2030, registering a CAGR of 19.1% from 2023 to 2030, according to a new report by Grand View Research, Inc. The market growth can be attributed to the rising adoption of cloud-based contact center services by enterprises to offer better flexibility and customer convenience. Many organizations are adopting Business Intelligence (BI) technology, as it provides them with a holistic view of agent performance and helps measure how they are achieving organizational goals.
Contact Center Analytics Market - The global contact center analytics market size is expected to reach USD 5.75 billion by 2030, expanding at a CAGR of 19.3% over the forecast period, according to a new report by Grand View Research, Inc. The growing need among contact center companies to track and measure business performance at each level is expected to drive market growth. Contact center analytics also enables companies to reduce overhead and operational expenses. The funding raised by contact center service providers is also expected to drive market growth. For instance, in May 2021, ASAPP, Inc., an Artificial Intelligence (AI) research-driven customer experience company, announced that it raised USD 120 million. The company would use this funding to expand its portfolio and market reach.
BFSI Contact Center Analytics Market - The global BFSI contact center analytics market size is expected to reach USD 842.5 million by 2028, registering at a CAGR of 16.3% from 2021 to 2028, according to a new report by Grand View Research, Inc. The BFSI sector increasingly demands contact center analytic solutions to analyze customer data and improve customer experience. The increasing efforts of BFSI firms to improve their operational performance and address customer requirements is also one of the major factors driving the market growth.

Browse through Grand View Research's Next Generation Technologies Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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