LONDON, July 12. 2022 (GLOBE NEWSWIRE) — According to The Business Research Company’s research report on Contact Center Software Market, technological advancements are the key trends gaining popularity in the Contact Center Software Market. Companies are integrating artificial intelligence to improve the efficiency of contact center software. AI helps to analyze customer behavior, provide customer insights, reduce customer waiting time, and estimate real-time future customer behavior. For example, in July 2020, NICE Systems Ltd., an Israel-based software company specializing in contact center software, launched ENLIGHTEN Fraud Prevention, a customer engagement AI platform with voice biometrics capabilities to automatic detection of fraudsters. The system is based on predictive behavioral models that aim to determine and evaluate agent behaviors to improve sales opportunity discovery and customer satisfaction. It can analyze millions of voice interactions for risky and abnormal behavior, including authentication methods and address change requests without relying on agents to manually capture dispositions. It helps organizations prevent the exposure of personally identifiable information; protect customers against account takeover; reduce losses due to fraud; and maintain brand loyalty.
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The global contact center software market share is expected to grow from $26.8 billion in 2021 to $31.95 billion in 2022 at a compound annual growth rate (CAGR) of 19.2%. The growth of the contact center software industry is expected to reach $65.5 billion in 2026 at CAGR of 19.7%.
The rapid growth in the adoption of cloud-based contact center is contributing significantly to the growth of the contact center software market. The cloud-based contact center is hosted on an internet server through which all inbound and outbound customer communications are handled. The increasing adoption of cloud-based contact centers, which offer more scalability and flexibility than traditional contact centers, is driving the growth of the contact center software market. For example, according to a 2020 survey by Cisco Systems Inc., a U.S.-based networking hardware company, 62% of contact center decision makers expressed interest in setting up a contact center based on the cloud in the next 18 months. Hence, the rapid growth in the adoption of cloud-based contact center is driving the growth of the contact center software market.
Key Players of Contact Center Software Market include Cisco Systems Inc., Oracle Corporation, SAP SE, ZTE Corporation, NEC Enterprise Solutions, Genesys Telecommunications Laboratories Inc., Mitel Networks Corporation, Talkdesk Inc., Ameyo, 8×8, Aspect Software , Unify Inc., Five9 Inc., Vocalcom SA, Enghouse Interactive Inc. and NICE Systems Ltd.
The Global Contact Center Software Market analysis report is segmented by Component into Software, Services; by type of service in professional services, managed services; by deployment in the cloud, on premises; per end user in banking, financial services and insurance (BFSI), consumer goods and retail, healthcare, IT and telecommunications, government.
North America was the greater region in the contact center software market in 2021. Asia Pacific should be the fastest growing region in the forecast period. Regions covered in TBRC’s Contact Center Software Market Overview are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Global Contact Center Software Market Report 2022 – Global Market Size, Trends and Forecasts 2022-2026 is part of a series of new reports by The Business Research Company that provide insights into the Contact Center Software Market , analyze Contact Center Software Market and forecast market size and growth for overall market, Contact Center Software Market segments and geographies, Contact Center Software Market trends, drivers of the Contact Center Software Market, Contact Center Software Market Constraints, Revenues, Profiles and Market Share of Top Contact Center Software Market Competitors in 1000+ Industry Reports, covering more than 2,500 market segments and 60 geographical areas.
The report also gives an in-depth analysis of the impact of COVID-19 on the market. The reports are based on 150,000 datasets, extensive secondary research and proprietary insights from interviews with industry leaders. A highly experienced and expert team of analysts and modellers provide market analysis and forecasts. The reports identify key countries and segments for opportunities and strategies based on market trends and key competitor approaches.
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