According to the latest market research study released by Technavio, the global contact center market is expected to grow at a CAGR of around 11% during the forecast period 2016-2020.
This market research report by Technavio provides an in-depth analysis of the market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
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Technavio research analysts categorize the global contact center market based on technology:
Global contact center market share by technology 2015
|
Inbound systems |
57.98% |
|
IVR |
13.73% |
|
Analytics |
8.96% |
|
QM |
8.26% |
|
WFM |
5.88% |
|
Outbound systems |
5.18% |
Source: Technavio
The top three revenue contributing technology segments are discussed below:
Global inbound systems contact center market
The inbound systems accounted for around 58% of the global contact center market in 2015. An inbound call refers to the call that customer initiates to the contact center and is the most flexible, scalable, and comprehensive technologies used in contact centers.
“Inbound systems provide the centralized management of contact center channels in a single file and enables call center agents to communicate with clients via emails, telephone calls, chats, and even social media. It has various benefits including proper resource utilization, crafting an optimal customer experience, and easy automatic call distribution routing in different lines of business,” says Amit Sharma, a lead analyst at Technavio for research on IT spending by region and industry.
The inbound call center services are now shifting toward cloud-based solutions. For example, Agile Cloud, a cloud-based firm, has launched Cloco, a cloud-based inbound call center solution, which helps call centers to reduce operational costs.
Global IVR contact center market
In 2015, IVR contact center accounted for around 14% of the global contact center market and is expected to grow rapidly in the developed nations such as the US and some European countries. The key drivers of the market are highly advanced voice portal systems, speech recognition interfaces, and dual tone multi-frequency (DTMF) interfaces within the conventional IVR designs. The IVR solutions are being used extensively in contact centers for outbound calls and to manage essential information for appointments, outstanding bills, and other events. It also helps customers to manage and provide enhanced customer service experience and takes no time in resolving any queries related to the system. Moreover, to provide high quality customer services, the technologies such as natural language processing is changing the contact center service delivery systems.
Most of the SMEs and large-scale enterprises are increasingly adopting IVR systems to redirect calls to relevant customer service agents. The extensive promotion of automation in contact centers in the organizations is leading to the replacement of legacy IVR systems with advanced IVR systems, which has created huge opportunities for vendors in the market. They can now target SMBs to offer visual IVR solutions, besides employing web self-service and mobile self-service in their contact centers. Some of the key vendors in the market are Aspect Software, Avaya, BCE, Cisco, Convergys, Dialogic.
Global analytics contact center market
In 2015, analytics segment accounted for around 9% of the global contact center market and it is anticipated that it will be the top driving factor for the contact center market during the forecast period. The adoption rate of analytical solutions such as speech analytics is increasing significantly in contact centers, however, there are many contact centers that do not have analytical capabilities due to a lack of awareness, IT budget constraints, or concerns around return on investment. The use of analytical solutions for contact centers help enterprises to reduce the number of repeat calls from customers, track retention of agents, follow agents’ performance on the job, and pinpoint the areas of improvement. It also helps to improve customer satisfaction by reducing the burden on customers in the call process, help to identify most effective agents and their expertise for better call routing, and analyze the call history to improve first contact resolution. For instance, CallMiner and Five9 have team up to reposition themselves in the market through the sale of cloud-based customer engagement analytics solutions. The premeditated partnership between the two firms will help them to develop new analytical capabilities to provide market intelligence to their customers.
The top leading vendors operating in the global contact center market are:
- Avaya
- Cisco Systems
- Genesys
- Huawei Technologies
Other prominent vendors in the market include 3CLogic, 8×8, Aastra, Altitude Software, Aspect Software, Connect First, Convergys, CRMXchange, Five9, Fujitsu, HP, IBM, inContact, Interactive Intelligence, Mitel Networks, NICE, Noble Systems, Oracle, Presence Technology, SAP, ShoreTel, Syntel, Teleopti, Unify, Verint Systems, Verizon Communications, and Vocalcom.
A more detailed analysis is available in the Technavio report titled, ‘Global Contact Center Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Unified Communication and Collaboration Market 2016-2020
- Global Enterprise Communication Infrastructure Market 2016-2020
- Global Web-based Real-time Communication Market 2016-2020
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