Global Contact Center Software Market to Register a Healthy CAGR of 14.62% by 2026

Posted June 3, 2020 by Aashi_K

The global contact center software market size was valued at USD 16,750.7 Mn in 2018, is projected to reach USD 48,010.0 Mn by the end of 2026, exhibiting a CAGR of 14.62%.

Market Growth Predicated on Account of Increasing Demand for Cloud-based Technology

The global contact centre software market is set to gain impetus from the rising demand for cloud-based contact centre software. Automated contact centre solutions are seeing rising preference among organizations and also in government services. This is attributable to the fact that automatic contact centre technology eliminates the need of hiring human operators. Not only does this reduce costs for the company, but it also makes possible catering to the demands of customers in a more efficient manner. Thus, advancements in cloud-based contact centre solutions will boost the global contact centre software market.

Certain Concerns to Slow Adoption of Cloud-based Technologies

Cloud-based contact centre solutions have their share of disadvantages as well. For example, a study by Interactive Intelligence revealed that organisations had concerns regarding data security, outsourced call centres, and lack of on-site human contact as some of the reservations keeping them from adopting cloud-based software. These factors can hinder the growth of the global contact centre software market.

The global contact center software is expected to exhibit a remarkable CAGR of 14.62% between 2018 and 2026 owing to increasing demand for multi-channel customer support. Key insights into this emerging market have been covered and shared by Fortune Business Insights™ in its report, titled “Contact Centre Software Market Size, Share and Global Trend By Component (Solutions & Services), By Organization Size (Large & Small & Medium Enterprises (SMEs)), By Deployment (Cloud & On-Premises), By Vertical (Banking, Financial Services, and Insurance, IT and Telecom, Government, and others), and Geography Forecast till 2026”. The analysis provided in the report projects that the market value of contact centre software is expected to reach US$ 48,010.0 Mn by the end of 2026.
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Last Updated June 3, 2020