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Home » A detailed study on Contact Center Software Market has been conducted to understand its landscape in 2023.

A detailed study on Contact Center Software Market has been conducted to understand its landscape in 2023.

SDKI Inc.
A detailed study on Contact Center Software Market has been conducted to understand its landscape in 2023.

Survey period: March 15-31, 2023
Survey company: SDKI Inc.
Survey Base: We surveyed 538 market players of all sizes.
Number of valid answers: 538
Survey method: 228 field surveys, 312 Internet surveys
Survey Respondents: The survey was conducted among companies based on revenue. Question: What is contact center software? How big is the Contact Center Software market and what is the projected growth rate to 2035? Contact center software is a set of applications that automates key contact center processes. Contact center software helps organizations control costs, develop and monitor agents, improve customer
experience, and stay compliant with laws and regulations.
The contact center software market is projected to reach approximately US$179.9 billion by 2035, from a market value of approximately US$28.09 billion in 2022. The contact center software market is growing at a CAGR of around 24% during 2023-2035.
Question: What are the factors driving the growth of the contact center software market?
Here are some of the other prominent factors driving growth in the area of ​​the contact center software market—
Growing Adoption of Cloud-Based and Virtual Contact Center
Solutions—Contact center managers and administrators are implementing cloud technologies for a variety of reasons, including enhanced security and efficiency. For example, about 60% of the world’s corporate data is stored in the cloud, and cloud data centers account for about 3% of the world’s energy consumption. However, 90% of large enterprises have multi-cloud infrastructures. Companies use about 2.6 public clouds and about 2.7 private clouds on average, leading to market growth for contact center software.
Growing adoption of omnichannel communications—Customers now use multiple channels to communicate with businesses, including voice, email, chat, social media, video chat assistance, and chatbots. Contact center software that can seamlessly manage these channels is becoming increasingly important. For example, the demand for chatbots is estimated at around US$5,133 million in 2022 and is expected to grow at a CAGR of around 24% by 2035. The penetration of customer service activities into enterprises aimed at reducing operating costs is expected to fuel the growth of the market.
Increasing technological advances such as artificial intelligence (AI) and machine learning (ML)
Growing demand for remote work solutions
Increased demand for better customer service
[Image 1: https://prtimes.jp/i/72515/2464/resize/d72515-2464-6da587f3daa08406bbce-0.jpg&s3=72515-2464-bb6e440bc55693b533b4b55170242a65-1280×720.jpg] The Problem: What are the challenges hindering the growth of the contact center software market?
Factors limiting market growth include:
As contact centers adopt IVR systems, web chats and self-service channels in an effort to keep up with the volume of calls received by their agents, they are increasingly exposed to the risk of fraud attacks and the associated losses.
Also, integration issues that arise when trying to integrate different software systems within an enterprise may also limit the growth of the contact center software market. Integration is time-consuming, costly, and can require significant resources to make all systems work seamlessly together.
Contact center software often contains sensitive customer information and is a potential target for hackers and cybercriminals. This can lead to significant security concerns for businesses and affect their adoption of contact center software.

Question: What are the major classifications of the Contact Center Software Market?
The Contact Center Software Market is segmented as follows:
By Solution (Automatic Call Distribution (ACD), Interactive Voice Response (IVR), Call Recording, Computer Telephony Integration (CTI), Customer Collaboration, Dialers, Reporting and Analytics, Workforce Optimization, Others)
The IVR segment dominated the contact center software market in 2022, accounting for approximately 22% revenue share. Interactive Voice Response interprets tones and accents more accurately compared to traditional speech recognition software. It also benefits companies by assigning callers to relevant departments or agents on a case-by-case basis. Additionally, IVR solutions help clients resolve
product-related queries themselves instead of relying on customer care representatives.
[Image 2: https://prtimes.jp/i/72515/2464/resize/d72515-2464-1503f7f3636bb0b77b27-1.jpg&s3=72515-2464-0c052ad03f52d1586f877d8a04938c54-1280×720.jpg] By company size (large companies, SMEs)
By deployment (hosted, on-premises)
By End User (BFSI, IT & Telecom, Consumer Goods & Retail, Government, Healthcare, Travel & Hospitality, Others)
The IT and telecom segment will dominate the market in 2022, accounting for over 24% revenue share. Intensifying competition in the IT and telecom industries shows no signs of abating. IT and telecoms thrive on innovation, and by implementing the right tools to keep customer service up and running, we can effectively leverage massive amounts of customer data to gain actionable insights. , focused on increasing profits.
[Image 3: https://prtimes.jp/i/72515/2464/resize/d72515-2464-a335befec0369ee90b75-2.jpg&s3=72515-2464-0278bfdb0d9fdb033d5751213a0c355d-1280×720.jpg] By Service (Integration & Deployment, Support & Maintenance, Training & Consulting, Managed Services)
Question: Who are the companies leading the contact center software market? What are some of the recent developments in the Contact Center Software Market?
The following companies have built the contact center software market: 8X8, Inc., ALE International, ALE USA Inc., Amazon Web Services, Inc., Ameyo, AMTELCO, Alvaria, Inc., Avaya Inc., AVOXI, Cisco Systems, Inc., Enghouse Interactive, Exotel Techcom Pvt. Ltd., Five9, Inc., Genesys, Microsoft, NEC Corporation, Spok, Inc., Talkdesk, Inc., UiPath. The latest developments in Contact Center Software Market are: In August 2021, cloud communication and collaboration solutions provider RingCental announced the acquisition of Kindite, a developer of cloud-based encryption solutions, to enhance the security of its contact center solutions.
In June 2021, Avaya, a provider of contact center and unified communications solutions, announced the launch of the Avaya One Cloud CCaaS (Contact Center as a Service) platform. It integrates with Microsoft Teams to enable omnichannel customer engagement.
In May 2021, contact center solutions provider Genesys announced the launch of an AI-powered predictive engagement solution that uses machine learning to predict customer behavior and automate
personalized engagements. .

Question: Which region is expected to offer lucrative growth opportunities for the contact center software market?
Asia-Pacific is expected to offer lucrative growth opportunities in the contact center software market, owing to increasing adoption of cloud-based solutions and increasing demand for advanced technologies such as artificial intelligence and analytics. Additionally, the region has a large and fast-growing middle-class population, driving demand for a better customer experience. Countries such as China, Japan, and India are expected to contribute significantly to the growth of the contact center software market in the Asia Pacific region. However, the Asia-Pacific contact center software market is expected to grow at a CAGR of 18.40% during the forecast period, reaching a revenue of approximately US$26718.40 million in 2035. In Japan, due to the promotion of government digitization and automation, the contact center software market is expected to grow significantly. Moreover, growing demand for personalized customer experience and adoption of cloud-based solutions is expected to drive the growth of the Japanese contact center software market. The presence of major players such as NEC Corporation and Fujitsu Limited in the region is also expected to contribute to the market growth. North America is expected to remain a dominant region in the contact center software market owing to the presence of large players and early adoption of advanced technologies such as artificial
intelligence and automation. In addition, rising demand for
cloud-based solutions, increased usage of social media platforms, need for seamless omnichannel experience, etc. are expected to drive the growth of the contact center software market in North America. For example, North America has made significant investments in
cutting-edge technologies such as big data analytics and cloud computing, with a revenue share of around 37% in 2021. In addition, the rapid expansion of the e-commerce field along with the spread of omni-channel is expected to spur market expansion.
Europe is expected to see steady growth in the contact center software market owing to increasing adoption of cloud-based solutions and growing demand for personalized customer experiences. The region is home to several prominent players in the contact center software market, which are expected to contribute to the growth of the market. Additionally, the region’s stringent data protection regulations are expected to drive the adoption of secure contact center software solutions. According to the 2021 report, the Europe region accounts for a 27% revenue share of the total global contact center software market due to increasing demand for contact center solutions by SMEs and large enterprises.
[Image 4: https://prtimes.jp/i/72515/2464/resize/d72515-2464-215270bb005cbd377e6f-3.jpg&s3=72515-2464-f40d0c82212c936562311b53db14cf96-1280×720.jpg] About us:
SKI’s goal is to provide authoritative, in-depth research and insights. We focus on researching and providing detailed reports on growth indicators, challenges, trends, and the competitive landscape, as well as working with our clients to develop business strategies for maximum growth and success. Achieve total transformation. Our expertise is the result of years of working with companies of all sizes in various market sectors.

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