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Global Contact Center Market – Segmentation By Service (Managed and Professional Services), Solution (Agent Performance Optimization, Interactive Voice Responses, Automatic Call Distribution, Dialers, Reporting and Analytics, Computer Telephony Integration, and Others), Deployment Type (Cloud and On-Premises), Application (Chat Quality and Monitoring, Workforce Optimization, Data Integration & Recording, Call Routing and Queuing and Real-Time Decision Making), Industry Verticals (Banking, Financial Services and Insurance, IT & Telecommunication, Government, Healthcare & Life Sciences, Retail, Manufacturing, Media & Entertainment and Others) - Forecast, 2022 to 2027

Published: January, 2022
ID: 10311
Pages: 150

What is the size of Global Contact Center Market?

The global contact center market is foreseen to project from $ 27.7 billion in 2020 to $ 45.3 billion in 2025, at a compound annual growth rate (CAGR) of 14.9% over the outlook period of 2020 to 2025.

The rising demand for artificial intelligence (AI) to provide improved customer support is foreseen to accelerate market growth. AI support enables businesses to deliver personalized customer support and real-time customer service. AI assistance also helps improve call transfer rates, reduce agent training costs, and reduce processing times. Companies are vigorously trying to automate customer service interactions. Social media is becoming the preferred platform for interaction with customers. Many contact centers have implemented automated processes for digital channels, such as social media, to engage with customers and identify new sales opportunities.

What is the Contact Center?

The contact centers are basically defined as a network service in which the cloud service provider owns and operates the technology belonging to them.

A contact center is a customer interaction center that tracks contacts and collects customer information at the time of purchase, thus managing customer contacts through various means such as phone, email, live chat, fax, and mail. It is also a part of customer relationship management and helps to improve the customer experience through a unified set of workforce optimization and analysis.

Modern channels can be integrated using communications application programming interfaces (APIs). Analytics-based insights can be applied to deliver context-rich and personalized customer experiences. Additionally, since there is no centralized workplace, agents can operate remotely to provide 24-hour customer service.

Cloud-based call centers are slowly replacing on-premise call centers. According to the State of the Customer Experience 2018, the migration of 39% of UK contact centers to the cloud, with 57% of them marking an action plan to move to cloud-based call centers in the coming years.

Recent Developments:

  • April 2019: ZephyrTel confirmed about its telecommunications-focused collaboration with Amazon Web Services (AWS) to migrate to cloud, including OASIS Cloud Contact Center.
  • September 2019: Avaya implemented new features in its cloud-based contact center offerings. These include Avaya IX Teamspace’s multimedia chat and messaging functionality between customers, agents and administrative staff, Avaya IX Dashboard that provides a snapshot the performance of the customer journey and the associated enhanced analytics experience, and Agent Script that offers the ability to define inbound and outbound call flows.

Impact of Covid-19 on Contact Center Market

Due to the ongoing COVID-19 outbreak, customers in all industries are trying to cope with the impact caused by coronavirus. Clients need information on health issues, new remote workers need technical assistance to stay connected, and investors are concerned about the performance of their portfolios. Therefore, due to this pandemic situation, the contact center industry is experiencing an increase in the number of calls.

Market growth and trends:

BFSI to witness the highest growth rate over the forecast period in the Global Contact Center Market

  • The BFSI industry is expected to see significant growth in the contact centers business. Many financial institutions are adopting cloud-based solutions to ease installations. The banking industry is going digital, with the increasing adoption of cloud platforms.
  • For example, Ameyo, a computer software company, offers cloud-based contact center software for the banking industry. According to Ameyo, the customer base of BFSI companies is growing enormously, creating the need for high-level customer service. Interactions with customers at banks and other financial institutions are very sensitive. It requires sophisticated customer interaction software that helps store, process, and analyze data efficiently and cost-effectively.
  • According to Financial News London, 80% of a bank's IT spending goes to maintaining legacy technologies and up to $ 300 million is spent each year to manage and maintain these disparate systems. This factor is forcing banks to invest in a cloud solution, either on premises or in public and private cloud services, to achieve greater scalability and integrated communication between disparate systems.

Market Drivers and Limitations:

The increasing adoption of cloud-based contact centers and the reduced and simplified maintenance process, remote access, and faster implementation of business value and flexibility are expected to drive the global contact center market during the outlook period. However, growing concerns about data security and privacy are expected to hamper market growth.

Market segmentation:

The global contact center market is mainly divided based on service, solution, deployment type, application, industry, and geography.

  • Based on service, it branches into managed and professional services. Based on the solution, it is categorized into agent performance optimization, interactive voice responses, automatic call distribution, dialers, reporting and analytics, computer telephony integration, and more. Depending on the type of deployment, the market is divided into cloud and local.
  • Based on the application, it includes chat quality and monitoring, workforce optimization, data entry and registration, call routing and queuing, and call reception. decision in real time. Based on industry verticals, the market is categorized into banking, financial services and insurance, IT and telecommunications, government, health and life sciences, retail, manufacturing, media and entertainment, and others.

Regional Analysis:

By geography, the global contact center market is analyzed in the areas of North America, Europe, Asia-Pacific and LAMEA. Of these, the developing nations in North America and Europe accounted for a substantial share in the international market.

Key market players:

Major players described in the report include Cisco Systems, Inc., Oracle Corporation, Liveops, Inc., Aspect Software Inc., Five9, Inc., 3CLogic.com, NICE Systems Ltd., NewVoiceMedia, Connect First Inc., and Genesys Telecommunications.

1. Introduction                                 

                1.1 Market Definition                    

                1.2 Scope of the report                

                1.3 Study Assumptions                 

                1.4 Base Currency, Base Year and Forecast Periods                          

2. Research Methodology                                           

                2.1 Analysis Design                         

                2.2 Research Phases                      

                                2.2.1 Secondary Research           

                                2.2.2 Primary Research 

                                2.2.3 Data Modelling      

                                2.2.4 Expert Validation  

                2.3 Study Timeline                          

3. Report Overview                                        

                3.1 Executive Summary                

                3.2 Key Inferencees                       

4. Market Dynamics                                       

                4.1 Impact Analysis                         

                                4.1.1 Drivers      

                                4.1.2 Restaints  

                                4.1.3 Opportunities        

                4.2 Regulatory Environment                       

                4.3 Technology Timeline & Recent Trends                            

5. Competitor Benchmarking Analysis                                    

                5.1 Key Player Benchmarking                     

                                5.1.1 Market share analysis        

                                5.1.2 Products/Service  

                                5.1.3 Regional Presence               

                5.2 Mergers & Acquistion Landscape                      

                5.3 Joint Ventures & Collaborations                        

6. Market Segmentation                                              

                6.1 Contact Center Market, By Service                  

                                6.1.1 Managed 

                                6.1.2 Professional           

                                6.1.3 Market Size Estimations & Forecasts (2019-2024)   

                                6.1.4 Y-o-Y Growth Rate Analysis             

                                6.1.5 Market Attractiveness Index          

                6.2 Contact Center Market, By Solution                

                                6.2.1 Agent Performance Optimization 

                                6.2.2 Interactive Voice Responses           

                                6.2.3 Automatic Call Distribution               

                                6.2.4 Dialers       

                                6.2.5 Reporting and Analytics     

                                6.2.6 Computer Telephony Integration 

                                6.2.7 Market Size Estimations & Forecasts (2019-2024)   

                                6.2.8 Y-o-Y Growth Rate Analysis             

                                6.2.9 Market Attractiveness Index          

                6.3 Contact Center Market, By Deployment Type                             

                                6.3.1 On-Premises          

                                6.3.2 Cloud         

                                6.3.3 Market Size Estimations & Forecasts (2019-2024)   

                                6.3.4 Y-o-Y Growth Rate Analysis             

                                6.3.5 Market Attractiveness Index          

                6.4 Contact Center Market, By Application                          

                                6.4.1 Chat Quality and Monitoring           

                                6.4.2 Workforce Optimization    

                                6.4.3 Data Integration & Recording          

                                6.4.4 Call Routing and Queuing  

                                6.4.5 Real-Time Decision Making              

                                6.4.6 Market Size Estimations & Forecasts (2019-2024)   

                                6.4.7 Y-o-Y Growth Rate Analysis             

                                6.4.8 Market Attractiveness Index          

                6.5 Contact Center Market, By Industry Vertical                

                                6.5.1 Banking, Financial Services and Insurance 

                                6.5.2 IT & Telecommunication   

                                6.5.3 Government          

                                6.5.4 Healthcare & Life Sciences               

                                6.5.5 Retail         

                                6.5.6 Manufacturing      

                                6.5.7 Media & Entertainment    

                                6.5.8 Market Size Estimations & Forecasts (2019-2024)   

                                6.5.9 Y-o-Y Growth Rate Analysis             

                                6.5.10 Market Attractiveness Index        

7. Geographical Landscape                                         

                7.1 Global Identity Governance and Administration Market, by Region                  

                7.2 North America - Market Analysis (2018 - 2024)                            

                                7.2.1 By Country              

                                                7.2.1.1 USA

                                                7.2.1.2 Canada

                                7.2.2 By Service

                                7.2.3 By Solution              

                                7.2.4 By Deployment Type          

                                7.2.5 By Application        

                                7.2.6 By Industry Vertical             

                7.3 Europe                         

                                7.3.1 By Country              

                                                7.3.1.1 UK

                                                7.3.1.2 France

                                                7.3.1.3 Germany

                                                7.3.1.4 Spain

                                                7.3.1.5 Italy

                                                7.3.1.6 Rest of Europe

                                7.3.2 By Service

                                7.3.3 By Solution              

                                7.3.4 By Deployment Type          

                                7.3.5 By Application        

                                7.3.6 By Industry Vertical             

                7.4 Asia Pacific                  

                                7.4.1 By Country              

                                                7.4.1.1 China

                                                7.4.1.2 India

                                                7.4.1.3 Japan

                                                7.4.1.4 South Korea

                                                7.4.1.5 South East Asia

                                                7.4.1.6 Australia & NZ

                                                7.4.1.7 Rest of Asia-Pacific

                                7.4.2 By Service

                                7.4.3 By Solution              

                                7.4.4 By Deployment Type          

                                7.4.5 By Application        

                                7.4.6 By Industry Vertical             

                7.5 Latin America                             

                                7.5.1 By Country              

                                                7.5.1.1 Brazil

                                                7.5.1.2 Argentina

                                                7.5.1.3 Mexico

                                                7.5.1.4 Rest of Latin America

                                7.5.2 By Service

                                7.5.3 By Solution              

                                7.5.4 By Deployment Type          

                                7.5.5 By Application        

                                7.5.6 By Industry Vertical             

                7.6 Middle East and Africa                           

                                7.6.1 By Country              

                                                7.6.1.1 Middle East

                                                7.6.1.2 Africa

                                7.6.2 By Service

                                7.6.3 By Solution              

                                7.6.4 By Deployment Type          

                                7.6.5 By Application        

                                7.6.6 By Industry Vertical             

8. Key Player Analysis                                    

                8.1 Cisco Systems, Inc                   

                                8.1.1 Business Description           

                                8.1.2 Products/Service  

                                8.1.3 Financials 

                                8.1.4 SWOT Analysis       

                                8.1.5 Recent Developments       

                                8.1.6 Analyst Overview 

                8.2 Oracle Corporation                  

                8.3 Liveops, Inc                

                8.4 Aspect Software Inc                               

                8.5 Five9, Inc                     

                8.6 3CLogic.com                               

                8.7 NICE Systems Ltd                     

                8.8 NewVoiceMedia                      

                8.9 Connect First Inc                      

                8.10 Genesys Telecommunications                         

9. Market Outlook & Investment Opportunities                                

Appendix                                           

                List of Tables                     

                List of Figures                   

  1. Global Contact Center Market By Region, From 2020-2025 ( USD Billion )
  2. Global Contact Center Market By Service, From 2020-2025 ( USD Billion )
  3. Global Managed Market By Region, From 2020-2025 ( USD Billion )
  4. Global Professional Market By Region, From 2020-2025 ( USD Billion )
  5. Global Contact Center Market By Solution, From 2020-2025 ( USD Billion )
  6. Global Agent Performance Optimization Market By Region, From 2020-2025 ( USD Billion )
  7. Global Interactive Voice Responses Market By Region, From 2020-2025 ( USD Billion )
  8. Global Automatic Call Distribution Market By Region, From 2020-2025 ( USD Billion )
  9. Global Dialers Market By Region, From 2020-2025 ( USD Billion )
  10. Global Reporting and Analytics Market By Region, From 2020-2025 ( USD Billion )
  11. Global Computer Telephony Integration Market By Region, From 2020-2025 ( USD Billion )
  12. Global Contact Center Market By Deployment Type, From 2020-2025 ( USD Billion )
  13. Global On-Premises Market By Region, From 2020-2025 ( USD Billion )
  14. Global Cloud Market By Region, From 2020-2025 ( USD Billion )
  15. Global Contact Center Market By Application, From 2020-2025 ( USD Billion )
  16. Global Chat Quality and Monitoring Market By Region, From 2020-2025 ( USD Billion )
  17. Global Workforce Optimization Market By Region, From 2020-2025 ( USD Billion )
  18. Global Data Integration & Recording Market By Region, From 2020-2025 ( USD Billion )
  19. Global Call Routing and Queuing Market By Region, From 2020-2025 ( USD Billion )
  20. Global Real-Time Decision Making Market By Region, From 2020-2025 ( USD Billion )
  21. Global Contact Center Market By Industry Vertical, From 2020-2025 ( USD Billion )
  22. Global Banking, Financial Services and Insurance Market By Region, From 2020-2025 ( USD Billion )
  23. Global IT & Telecommunication Market By Region, From 2020-2025 ( USD Billion )
  24. Global Government Market By Region, From 2020-2025 ( USD Billion )
  25. Global Healthcare & Life Sciences Market By Region, From 2020-2025 ( USD Billion )
  26. Global Retail Market By Region, From 2020-2025 ( USD Billion )
  27. Global Manufacturing Market By Region, From 2020-2025 ( USD Billion )
  28. Global Media & Entertainment Market By Region, From 2020-2025 ( USD Billion )
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