SELBYVILLE, Del., March 26, 2020 /PRNewswire/ -- According to
the latest report "Contact Center Software Market by Component
(Software [Automatic Call Distribution, Dialer, Call Recording,
Computer Telephony Integration, Workforce Optimization, Customer
Collaboration, Reporting & Analytics, IVR, IVA], Service),
Deployment Model (On-Premise, Cloud), Application (BFSI, Consumer
Goods & Retail, Government, Healthcare, IT & Telecom,
Travel and Hospitality), Regional Outlook, Competitive Market Share
& Forecast 2024", by Global Market Insights, Inc., the
market valuation of contact center software will cross
$40 billion by 2024.
North America dominates the
contact center software market and is poised to witness around 13%
gains through 2024. The cloud adoption rate of the North American
contact center industry increased from around 5% in 2012 to
approximately 15% in 2016 with a positive impact on market demand.
Companies operating in this region are shifting from product-based
to customer-centric approach, creating a substantial demand for the
market.
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Elaborating further on the regional landscape, the Asia Pacific contact center software market is
anticipated to exhibit a relatively higher CAGR of 20% during the
forecast period. The emergence of various SMEs in the region is a
key factor contributing to the market growth. Besides, the rising
government efforts toward enabling industrial automation and
the expanding BFSI, consumer goods & retail, healthcare, and IT
& Telecom industries are some of the major factors fueling the
APAC market revenue.
The IT & telecom sector is demonstrating massive interest in
the deployment of contact center software and is likely to observe
more than 17% growth until 2024. Telecom companies are utilizing
this software to register customer complaints, deliver value-added
services, send follow-up reminders for payments, and maintain
proactive engagement with customers.
The cloud-based deployment model in the contact center software
market will expand at 22% between 2018 and 2024. In addition to
offering faster and easy implementation, the cloud-based model also
offers other additional advantages such as enhanced scalability
& flexibility, real-time data visibility, customization
capabilities, greater security, and others.
The software component segment accounted for majority of market
revenue share, with over 70% in 2017. Interactive Voice Response
(IVR) dominates the software segment as it assists in quick
resolution of customer queries by providing them with pre-recorded
responses for frequently asked questions or routing the customers
to the responsible representative or department for complex
queries. Various sectors including BFSI, hospitality, retail, and
healthcare are deploying IVR software for enterprise websites for
easy and continuous interaction with customers.
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Table of Contents (ToC) of the report:
Chapter 3. Contact Center Software Market
Insights
3.1. Introduction
3.2. Industry segmentation
3.3. Industry landscape, 2013-2024
3.4. Contact center software ecosystem analysis
3.4.1. Contact center software providers
3.4.2. Contact center providers
3.4.3. Contact center component integrators
3.4.4. Distributors
3.4.5. End users
3.5. Contact center software architecture analysis
3.6. Contact center software evolution
3.7. Technology & innovation landscape
3.7.1. Artificial Intelligence (AI) and machine learning
3.7.2. Cloud-based technology
3.7.3. Big data and predictive analytics
3.8. Regulatory landscape
3.8.1. European Contact Centre Standard (ECCS)
3.8.2. General Data Protection Regulation (GDPR)
3.8.3. Financial Industry Regulatory Authority (FINRA)
3.8.4. Payment Card Industry Data Security Standard (PCI
DSS)
3.8.5. Health Insurance Portability and Accountability Act
(HIPAA)
3.8.6. Telemarketing Sales Rule (TSR)
3.8.7. California Online Privacy Protection Act (CalOPPA)
3.9. Industry impact forces
3.9.1. Growth drivers
3.9.2. Industry Pitfalls and Challenges
3.10. Porter's Analysis
3.10.1. Threat of new entrants
3.10.2. Threat of substitutes
3.10.3. Bargaining power of buyer
3.10.4. Bargaining power of supplier
3.10.5. Industry rivalry
3.11. PESTEL analysis
3.12. Growth potential analysis
Browse complete Table of Contents (ToC) @
https://www.gminsights.com/toc/detail/contact-center-software-market
About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research
and consulting service provider. Offering syndicated and custom
research reports, growth consulting and business intelligence
services, Global Market Insights, Inc. aims to help clients with
penetrative insights and actionable market data that aid in
strategic decision making.
GMIPulse, our business analytics platform offers an
online, interactive option of exploring our proprietary industry
research data in an easy-to-use and dynamic manner. Clients
get to explore market intelligence across 11 top-level categories
and hundreds of industry segments within them, covering regional,
company level and cross-sectional statistics that make our offering
a stand-out for decision-makers.
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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
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Email: sales@gminsights.com
Related Images
global-contact-center-software.png
Global Contact Center Software Market revenue to cross
USD 40 Bn by 2024: GMI
Asia Pacific contact center
software market is anticipated to exhibit CAGR of around 20% during
the forecast period. The emergence of various SMEs in the region is
a key factor contributing to the market growth.
Related Links
Contact Center Analytics Market Trends
Chatbot Market Trends
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SOURCE Global Market Insights, Inc.