The global contact center market is expected to reach USD 9.7 billion by 2019, growing at a compound annual growth rate (CAGR) of over 9% during the forecast period as reported by Technavio, a tech-focused research firm.
“The global contact center market has been registering a positive growth rate for the past five years, and this growth is expected to gain momentum in the coming years. Innovation and the proliferation of digital technologies has changed customers’ interaction with companies, and customers are now using different channels such as the web and self-service options. Many organizations prefer to include a contact center as a strategic part of their organization. Moreover, some organizations prefer to outsource their call center functions to a third party to improve the customer experience,”
~ Amit Sharma, lead analyst for ITO and BPO research at Technavio.
In the past years where technology have made huge leaps of innovation, it has become one of life’s necessities. For business enterprises, owners use these technologies and the Internet as a tool to manage their business and improve revenue through social media platforms, IT-softwares and programs and a like. Because of technology’s trending status, demand for these technologies being available in all areas increased. The role of IT in the business industry was then revolutionized.
In Technavio’s report, it covers the present scenario and growth prospects of the global contact center market for 2015-2019. It presents the vendor landscape and a corresponding detailed analysis of the top four vendors operating in the market which are segmented in to the following regions: Americas, EMEA, APAC.
The Americas’ contact center market is the largest among the three regions and is expected to exceed USD 5 billion by 0219, growing at a CAGR of over 7%. Key regions in this market are US, Canada and Latin America. The United States has a market share of about 50% of the entire Americas in 2014 while the key adopters now are countries from Latin America such as Brazil, Costa Rica, Guatemala and Argentina.
The contact center market in this region is expected to exceed USD 3 billion by 2019, growing at a CAGR of over 11%. Europe is the major contributor in this region while countries in Western Europe and Africa are seen as potential market for contact center functions.
“Some countries in EMEA such as South Africa, Tunisia, Ghana, Kenya, Poland, Hungary, the Czech Republic, and Slovakia are expected to be key contributing countries over the next five years,”
~ Amit Sharma
Contact center market in this region is expected to exceed USD 1 billion by 2019, growing at a CAGR of almost 13%. APAC is the fastest growing market during the forecast period.
Countries such as China, India, Australia, Philippines, Vietnam and Malaysia are expected to be the leading contributors to the market in this region.
Some of the other prominent vendors mentioned in the report are: 3CLogic, 8×8, Aastra, Altitude Software, Aspect Software, Connect First, Convergys, CRMXchange, Enghouse Interactive, Five9, Fujitsu, Genesys, HP, and IBM.
Contact centers are used to manage clients or customers via email, telephone, web chat, and social media. Many business enterprises including BPO firms have several contact centers to manage customer interaction offering services like support or helpdesk, customer service, and sales and marketing. These functions help businesses to provide better customer experience, productivity, valuable business intelligence so that key players can focus in core competencies, reduced time-to-market, access to fresh talent and experience along with the latest technologies, and help build an organization with an economical cost structure in the long run. Contact center play a main role to broaden customer management strategies.
Currently, contact centers are becoming multichannel operations. This results in a coherent customer experience and enables customer expectations to be met with an advanced level of interaction.