Contact Center Software Market Size, Share, Trends, Analysis and Forecast 2021-26

MarketsandMarkets forecasts the Contact Center Software Market size to grow from USD 15.29 billion in 2017 to USD 29.13 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 13.8%.Asia Pacific (APAC) is expected to grow at the highest CAGR in the global contact center software market during the forecast period.

Organizations are focusing on improving customer loyalty by reaching customers through multiple channels, such as the web, mobile, applications, and social media, for offering superior service and faster resolution of queries.

Moreover, increasing adoption of mobility and cloud in this region has encouraged organizations to adopt cloud-based contact center software.Ask For PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=257044641The retail and consumer goods vertical is expected to grow at the highest CAGR in the market during the forecast period.

Organizations in the retail vertical have adopted a strategy of managing business operations globally and working locally on the development and pre-production sanction of products.

Cloud-based contact center is gaining traction among enterprises across various industries owing to benefits such as scalability, improved business agility, reduced operational cost and issues, and less capital expenditure.

The cloud-based contact center empowers organizations to meet varied needs of customers through cloud-based omni channel and unified communication solution suites.

According to research report "Contact Center Software Market by Component (Solutions and Services), Deployment Model (Cloud and On-premises), Organization Size (Large Enterprises and SMEs), Industry, and Region - Global Forecast to 2026", size is expected to grow from USD 24.1 billion in 2020 to 75.5 USD billion by 2026, at a Compound Annual Growth Rate (CAGR) of 20.9% during the forecast period.

Major factors that are expected to drive the growth of the contact center software market include the rising adoption of advanced contact center technologies, need for handling contact center attrition and absenteeism, emerging role of social media in contact center operations, increasing adoption of virtual and cloud-based contact center solutions during and post-COVID-19 to achieve better business continuity, growing need for omnichannel solutions to minimize efforts in reaching end customers, continuous transitions to cloud-based contact centers, and rising demand for personalized and streamlined customer interactions to achieve high customer satisfaction.Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=257044641Browse 232 market data Tables and 52 Figures spread through 325 Pages and in-depth TOC on "Contact Center Software Market - Global Forecast to 2026"Solutions segment to hold a larger market size during the forecast periodContact center solutions include omnichannel routing, workforce engagement management, reporting and analytics, customer engagement management, and others (CTI, messaging, compliance, and data integration).

These solutions address critical contact center needs related to the management of agent performance, and inbound and outbound operations such as customer query resolution, selling and prospecting, and information delivery and customer communication management.

These digital channels can be web, social media, email, text, or phone.SMEs segment to grow at the highest CAGR during the forecast periodSMEs considered for this report are organizations with an employee size of 1–999.

Being constrained by limited budgets, small IT infrastructure, and limited staff, SMEs are looking for flexible, scalable, and cost-effective solutions.

The need for minimizing costs associated with the manual routing of calls and management of contact center processes and the requirement for the diffusion of technologies at contact centers for WFO drive the adoption of contact center solutions among SMEs.Retail and consumer goods industry vertical to grow at the highest CAGR during the forecast periodThe retail and consumer goods industry is highly customer-centric, and companies across this industry are adopting different penetration strategies and leveraging various industry-ready technologies to enhance customer experiences and improve customer retention.

It includes the size, share, growth, trends, key players, segments and regional analysis in detail during the study year 2020-2027.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.

The major players in the Contact Center Software market include 8X8, Inc., ALE International, Altivon, Amazon Web Services, Inc., Ameyo, Amtelco, Aspect Software, Avaya Inc., Avoxi, Cisco Systems, Inc., Enghouse Interactive Inc., Exotel Techcom Pvt.

Ltd., Five9, Inc., Genesys, Microsoft Corporation, NEC Corporation and SAP SE.

This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Contact Center Software Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/contact-center-software-market/download-sampleMarket DynamicsThe market is predominantly driven by speedy technological advancement in the area of customer relationship management, and the integration of ML and AI into business processes is expected to propel the growth of the market.

In addition to this, the emergence of the omnichannel customer experience towards Contact Center Software is projected to catalyze growth during the forecast period.

Further, rising demand from telecom, IT, BFSI, retail sectors, consumer goods, and services are expected to drive the growth of the market.