Anthropic AI (AI as a service) is fastest growing segment fueling growth of Contact Center Software Market
The global Contact Center Software Market is estimated to be valued at US$ 38.8 Bn in 2023 and is expected to exhibit a CAGR of 20% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
AI as a service is gaining huge traction in contact center software market. With AI, companies are able to automate repetitive tasks and focus resources on more value adding tasks. AI facilitates proactive engagement with customers by understanding customer needs in real-time. It also helps contact centers in predictive analytics by identifying spending patterns, commonly asked questions and resolutions.
Market Overview:
Contact center software facilitates multichannel communication with customers through various modes such as voice, email, chat, messaging and social media. It enables efficient management of customer queries and issues by routing calls to the best available agents. Contact center software integrates with CRM solutions and provides real-time customer insights for enhanced experience.
Market key trends:
The contact center software market is witnessing increased adoption of AI and automation solutions. Key players are focusing on infusing AI capabilities such as predictive analytics, natural language processing and cognitive technology for personalized customer experience. Growing adoption of cloud-based contact center software is another key trend, driven by benefits such as scalability, reduced costs and improved collaboration. Increased work from home amid pandemic has further accelerated demand for cloud contact center solutions. Integration of chatbots and virtual assistants is revolutionizing customer service by handling basic queries and routing complex requests to human agents.
Segment Analysis
The contact center software market can be segmented based on component, deployment mode, organization size, vertical, and region. Based on component, the market is segmented into software and services. The services segment is expected to dominate the market over the forecast period. This is owing to the increasing demand for implementation and integration services to support complex customer interactions across various channels.
Key Takeaways
The global contact center software market is expected to witness high growth, exhibiting a CAGR of 20% over the forecast period, due to increasing demand for omnichannel customer engagement.
Regional analysis:North America is expected to dominate the contact center software market over the forecast period. This is attributed to the early adoption of advanced technologies and the strong presence of major players in countries like US and Canada. The Asia Pacific region is expected to exhibit the fastest growth rate owing to rapid digital transformation and growth of BPO sector in emerging economies of China and India.
Key players: Key players operating 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., Salesforce Inc., and Oracle. 8X8, Inc. and Cisco Systems, Inc. are recognized as the market leaders due to their extensive product portfolios for contact center solutions and global presence.
Read more: https://www.ukwebwire.com/contact-center-software-market-size-share/
