Contact Center Market by Type, Deployment, and Geography - Forecast and Analysis 2021-2025
- Published: May 2021
- Pages: 131
- SKU: IRTNTR40477
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The contact center market share is expected to increase by USD 5.99 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 8.58%.
This contact center market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers contact center market segmentation by type (voice-based, text-based, and social media-based) and geography (APAC, North America, Europe, and South America). The contact center market report also offers information on several market vendors, including 8x8 Inc., ALE International, Aspect Software Inc., Avaya Holdings Corp., Cisco Systems Inc., Enghouse Systems Ltd., Five9 Inc., Genesys Telecommunications Laboratories Inc., Mitel Networks Corp., and NEC Corp. among others.
What will the Contact Center Market Size be During the Forecast Period?
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Contact Center Market: Key Drivers, Trends, and Challenges
The rising adoption of cloud - based contact centers is notably driving the contact center market growth, although factors such as inability to achieve an asa may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the contact center industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Contact Center Market Driver
The rising adoption of cloud - based contact centers is notably driving the global contact center market growth. It is crucial for organizations to maintain a good relationship with their customers and offer better customer support services to stay competitive and ensure revenue growth. Improving customer relationships can help them increase their market share and expand their customer base. Thus, contact center organizations have started adopting new solutions such as interactive voice response (IVR), robotic process automation (RPA), and others that help them to automate their customer relationship management. Hence, the integration of IVR into contact centers will help in enhancing customer satisfaction, which will drive the growth of the global contact center market.
Key Contact Center Market Trend
The integration of chtatbots for better turnaround times is the key market trend driving the global contact center market growth. The contact centers are trying to implement chatbots in their processes because, in the future, they must look for options other than human agents to handle simple customer queries and provide better resolutions. Good customer service can lead to the success of a business. Chatbots will help enterprises in giving instant responses to customers, which will lead to better turnaround times. Since time is of utmost importance while attending to a customer, chatbots will skip the dependency on the repair personnel and will give responses directly to the customers. Chatbots will also help enterprises delight their customers without losing the human touch. Thus, the integration of chatbots into contact centers will help in improving the customer experience. Hence, it will lead to an increase in the adoption of contact center solutions.
Key Contact Center Market Challenge
Inability to achieve an asa is the major challenge impeding the global contact center market growth. An ASA is the key performance indicator for contact centers, which helps managers in assessing their team s performance and the efficiency of their callers. An ASA includes the amount of time a customer waits in line and the time the agent s phone is ringing. However, it does not include the time taken for customers to navigate through IVR. Contact centers should use workforce management (WFM) solutions to manage their resources so that they can meet the desired ASA and service levels. Owing to the growing customer expectations for better services, this problem is a huge challenge for the vendors of contact center solutions.
This contact center market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Parent Market Analysis
Technavio categorizes the global contact center market as a part of the global IT consulting and other services market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the contact center market during the forecast period.
Who are the Major Contact Center Market Vendors?
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
- 8x8 Inc.
- ALE International
- Aspect Software Inc.
- Avaya Holdings Corp.
- Cisco Systems Inc.
- Enghouse Systems Ltd.
- Five9 Inc.
- Genesys Telecommunications Laboratories Inc.
- Mitel Networks Corp.
- NEC Corp.
This statistical study of the contact center market encompasses successful business strategies deployed by the key vendors. The contact center market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
Product Insights and News
- 8x8 Inc. - The company offers contact center solutions with a flexible architecture, thus allowing integration of multiple locations such as headquarters, remote offices, and outsourced locations through a virtual call center. The company also offers other solutions such as Technical Support HelpDesk, Home-Based Agents, Inbound Call Center, and Customer Service Call Center Software.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The contact center market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Contact Center Market Value Chain Analysis
Our report provides extensive information on the value chain analysis for the contact center market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The report has further elucidated on other innovative approaches being followed by service providers to ensure a sustainable market presence.
Which are the Key Regions for Contact Center Market?
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50% of the market's growth will originate from APAC during the forecast period. China and India are the key markets for the contact center market in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The enterprises are outsourcing contact center operations to APAC which is helping them focus on their core competencies to gain a competitive advantage in the market. This will facilitate the contact center market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, the outbreak of COVID-19 positively impacted the growth of the regional market. This was because contact centers witnessed a huge rise in incoming calls as people wanted to seek information and reassurance about the impact of the COVID-19 outbreak on their business or personal circumstances.
What are the Revenue-generating Type Segments in the Contact Center Market?
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The contact center market share growth in the voice-based segment will be significant during the forecast period. The use of voice-based interaction is expected to decrease during the forecast period, owing to the use of IVR technology, live chat, and social media-based interaction. Voice-based interaction helps contact centers reduce the throughput time in resolving customer queries.
This report provides an accurate prediction of the contribution of all the segments to the growth of the contact center market size and actionable market insights on post COVID-19 impact on each segment.
Contact Center Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 8.58%
Market growth 2021-2025
$ 5.99 billion
YoY growth (%)
APAC, North America, Europe, and South America
Performing market contribution
APAC at 50%
Key consumer countries
China, US, India, and Germany
Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled
8x8 Inc., ALE International, Aspect Software Inc., Avaya Holdings Corp., Cisco Systems Inc., Enghouse Systems Ltd., Five9 Inc., Genesys Telecommunications Laboratories Inc., Mitel Networks Corp., and NEC Corp.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
What are the Key Data Covered in this Contact Center Market Report?
- CAGR of the market during the forecast period 2021-2025.
- Detailed information on factors that will drive contact center market growth during the next five years
- Precise estimation of the contact center market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the contact center industry across APAC, North America, Europe, and South America
- A thorough analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of contact center market vendors
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1 Executive Summary
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 01: Parent market
- Exhibit 02: Market characteristics
- 2.2 Value chain analysis
- Exhibit 03: Value Chain Analysis: IT consulting and other services
3 Market Sizing
- 3.1 Market definition
- Exhibit 04: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 05: Market segments
- 3.3 Market size 2020
- 3.4 Market outlook: Forecast for 2020 - 2025
- Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ billion)
- Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)
4 Five Forces Analysis
- 4.1 Five forces summary
- Exhibit 08: Five forces analysis 2020 & 2025
- 4.2 Bargaining power of buyers
- Exhibit 09: Bargaining power of buyers
- 4.3 Bargaining power of suppliers
- Exhibit 10: Bargaining power of suppliers
- 4.4 Threat of new entrants
- Exhibit 11: Threat of new entrants
- 4.5 Threat of substitutes
- Exhibit 12: Threat of substitutes
- 4.6 Threat of rivalry
- Exhibit 13: Threat of rivalry
- 4.7 Market condition
- Exhibit 14: Market condition - Five forces 2020
5 Market Segmentation by Type
- 5.1 Market segments
- Exhibit 15: Type - Market share 2020-2025 (%)
- 5.2 Comparison by Type
- Exhibit 16: Comparison by Type
- 5.3 Voice-based - Market size and forecast 2020-2025
- Exhibit 17: Voice-based - Market size and forecast 2020-2025 ($ billion)
- Exhibit 18: Voice-based - Year-over-year growth 2020-2025 (%)
- 5.4 Text-based - Market size and forecast 2020-2025
- Exhibit 19: Text-based - Market size and forecast 2020-2025 ($ billion)
- Exhibit 20: Text-based - Year-over-year growth 2020-2025 (%)
- 5.5 Social media-based - Market size and forecast 2020-2025
- Exhibit 21: Social media-based - Market size and forecast 2020-2025 ($ billion)
- Exhibit 22: Social media-based - Year-over-year growth 2020-2025 (%)
- 5.6 Market opportunity by Type
- Exhibit 23: Market opportunity by Type
6 Market Segmentation by Deployment
- 6.1 On-premises
- 6.2 Cloud-based
7 Customer landscape
8 Geographic Landscape
- 8.1 Geographic segmentation
- 8.2 Geographic comparison
- 8.3 North America - Market size and forecast 2020-2025
- 8.4 Europe - Market size and forecast 2020-2025
- 8.5 APAC - Market size and forecast 2020-2025
- 8.6 South America - Market size and forecast 2020-2025
- 8.7 MEA - Market size and forecast 2020-2025
- 8.8 Key leading countries
- 8.9 Market opportunity by geography
9 Drivers, Challenges, and Trends
- 9.1 Market drivers
- 9.2 Market challenges
- 9.3 Market trends
10 Vendor Landscape
- 10.1 Overview
- 10.2 Landscape disruption
- 10.3 Competitive scenario
11 Vendor Analysis
- 11.1 Vendors covered
- 11.2 Market positioning of vendors
- 11.3 8x8 Inc.
- 11.4 ALE International
- 11.5 Aspect Software Inc.
- 11.6 Avaya Holdings Corp.
- 11.7 Cisco Systems Inc.
- 11.8 Enghouse Systems Ltd.
- 11.9 Five9 Inc.
- 11.10 Genesys Telecommunications Laboratories Inc.
- 11.11 Mitel Networks Corp.
- 11.12 NEC Corp.
- 12.1 Scope of the report
- 12.2 Currency conversion rates for US$
- 12.3 Research methodology
- 12.4 List of abbreviations
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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Frequently Asked Questions?
- Rising adoption of cloud - based contact centers
- Integration of chatbots for better turnaround times
Key Questions Answered
- What are the key global market and the regional market share?
- What are the revenue-generating key market segments?
- What are the key factors driving and challenging this market’s growth?
- Who are the key market vendors and their growth strategies?
- What are the latest trends influencing the growth of this market?
- What are the variables influencing the market growth in the primary regions?
- What are the factors influencing the growth of the parent market?
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