The contact centre platforms market was valued at 36.41 billion in 2021 and will reach USD 1166.91 billion by 2029, and is expected to grow at a CAGR of 15.70% during the forecast period of 2022 to 2029.
Contact Centre Platforms Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Increasing adoption of connected devices among enterprises
One of the major factors driving the growth of the call centre platforms market is the increasing adoption of connected devices among enterprises.
Customer retention
The growing adoption of connected devices benefits call centre agents by allowing them to assist customers with as many devices as possible, allowing the company to retain their customers for a longer period of time.
Restraints
Inadequate network bandwidth in emerging economies limits the adoption of VoIP and cloud-based telephony; high costs and long-term contracts associated with PRI phone services; and the impact of IVR frauds and cyber-attacks on business operations are all major restraints on the growth of the contact centre platform market.
Opportunities
On the other hand, the constant transitions to cloud-based contact centres and high demand to analyse audio and video conversations in real time will create several opportunities that will lead to the growth of the contact centre platforms market in the above-mentioned forecast period.
Recent Development
- Five9 partnered with Conn3ct, a CX, unified communications, and network services communication provider, in December 2020 to use the latter's suite of communication channels to improve customer experiences and strengthen its foothold in EMEA.
- Cisco acquired Babble Labs, a noise removal technology provider, in October 2020 to improve its platform's video meeting capabilities by leveraging Babble Labs' expertise in noise removal and speech enhancements.
- NICE launched Real-Time Interaction Guidance; an interaction guidance solution powered by its AI platform—ENLIGHTEN—in July 2020
Market Analysis and Size
According to a study conducted by Salesforce, Inc., approximately 84 percent of customers value a company's experience as much as its products and services. Businesses have also realised that better customer service can help boost profits. As a result, businesses are aggressively implementing contact centre solutions as part of their efforts to improve customer service and thus contribute to market growth.
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Global Contact Centre Platforms Market Scope
The contact centre platforms market is segmented on the basis of offering, platform, organization size, deployment model and industry.
Offering
- Software
- Services
Platform
- Outbound Dialler
- Inbound Voice
- Web Chat
- Omni-channel Agent
- Social Media
- Messaging
- Others
Organization Size
- Small
- Medium
- large
Deployment Model
- Cloud
- On premise
- Hybrid
End User
- IT and telecommunication
- Travel and Hospitality
- Transport and Logistics
- Energy and Utilities
- Education
- Manufacturing
- Government
- Banks and Financial Institution
- Others
Competitive Landscape and Contact Centre Platforms Market Share Analysis
The contact centre platforms market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to contact centre platforms market.
Some of the major players operating in the contact centre platforms market are:
- NICE (UK)
- Genesis (US)
- Cisco Systems Inc (US)
- Avaya Inc (US)
- Five9 Inc (US)
- Talk desk (US)
- Vonage (US)
- 8x8 Inc (US)
- Amazon Web Services, Inc. (US)
- Atos SE (France)
- ALE International (France)
- SAP SE (Sweden)
- Oracle (US)
- RingCentral Inc (US)
- IBM (US)
- Lifesize (US)
- Content Guru Limited (UK)
- Aspect Software Inc (US)
- Enghouse Interactive (US)
- 3CLogic (US)
- Amero (India)
- Verizon (US)
- Intrados Corporation (US)
- AT&T Intellectual Property (US)
- BT (UK)
- Twilio Inc (US)
- Vodacom (France)
- NEC Corporation (Japan)
- Evolve IP LLC (US)
- Mitel Networks Corp (Canada)
- ZTE Corporation (China)
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Ø Chapter One: Introduction
Ø Chapter Two: Market Dynamics
Ø Chapter Three: Market Analysis & Size
Ø Chapter Four: Market Scope
Ø Chapter Five: Market Share Analysis
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