Contact Center Software Market Worth $ 67.97 Billion, Globally, by 2027 at 18.7% CAGR

Verified Market Research

Rapid technological advancements in the field of customer relationship management & integration of machine learning & artificial intelligence into business processes are anticipated to boost the market growth

JERSEY CITY, N.J., Oct. 22, 2020 /PRNewswire/ -- Verified Market Research recently published a report, "Contact Center Software Market by Component (Software, Services), by Deployment (Cloud-based, On-premise), by End-User (Banking, Financial Services, and Insurance (BFSI), Consumer Goods and retail, Healthcare, IT and Telecom, Government), Geography". According to Verified Market Research, the Global Contact Center Software Market was valued at USD 17.20 Billion in 2019 and is projected to reach USD 67.97 Billion by 2027, growing at a CAGR of 18.7% from 2020 to 2027.

This report provides detailed analysis of the growth trends among each of the segments as well as accurate forecasts in terms of the value and volume.

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Browse in-depth TOC on "Contact Center Software Market"

202 - Pages
126 – Tables
37 – Figures

Global Contact Center Software Market Overview

Rapid technological advancements in the field of customer relationship management and integration of machine learning and artificial intelligence into business processes are anticipated to boost the market growth. Also, businesses are focusing on integrating stack technologies into their processes as it enables agents to address customer issues and queries in consistent ways across all communication channels. As a result, businesses are able to enhance customer loyalty and operational performance.

The emergence of the omnichannel customer experience towards contact center software is expected to accelerate the growth over the forecast period. An omnichannel contact center allows customers to reach out for help across every channel. In addition, it allows agents to easily move between channels so that they can effectively help their customers.

Nowadays, buyers widely prefer cloud-based systems owing to benefits, such as usage flexibility, elimination of installation time and costs, and reduced maintenance charges. Subsequently, several customer relationship solution providers have extended their offerings to the cloud platform, enabling easy access to data virtually from any system across an organization. Also, easy to upgrade capability of the cloud platform allows companies to adjust to the constantly changing environment. The major players in the market are Alcatel-Lucent Enterprise, Genesys, Microsoft Corporation, Avaya, Inc., Cisco Systems, Inc., SAP SE, Nice Systems Ltd., Five9, Inc., NEC Corporation, and Huawei Technologies Co., Ltd.