Transparency Market Research delivers key insights on the global contact center solution market. In terms of revenue, the global contact center solution market is estimated to expand at a CAGR of ~19% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecasts in its report on the global contact center solution market.
A contact center solution is a system that offers automatic contact sharing and inbound contact handling capabilities, united with a high degree of complexities in terms of active contact traffic management. Contact center solutions have the capability of offering competitive benefits to enterprises by helping them to enhance efficiency and productivity through the automation of outbound and inbound processes of a contact center.
The global contact center solution market is broadly affected by several factors, including rise in technological advancements in the field of customer relationship management, and integration of artificial intelligence and machine learning into business processes, which is expected to boost the global contact center solution market during the forecast period. Increasing need to cater to dynamic customer requirements and rise in omni-channel communication have propelled the demand for contact center solutions across the globe.
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Contact Center Solution Market: Prominent Regions
The contact center solution market in North America is expected to expand during the forecast period, owing to the presence of key market players and technological advancements. The U.S. is the key market in the region due to the high adoption and integration of contact center solutions by BPO companies. The contact center solution market in Europe is projected to witness favorable growth during the forecast period due to significant expansion of the service-based sector in the region. The Asia Pacific contact center solution market is likely to expand during the forecast period, owing to digitalization of the sector and presence of large number of IT companies in the region.
The transition from product to service is generating new business avenues for companies in the contact center solution market. This shift is helping contact center agents to improve and deliver customer engagement. Self-service bots are a fast growing phenomenon in contact centers and are very suitable for common queries of customers. These bots help to reduce costs but deliver less customer satisfaction, since the technology in bots is still at the nascent stage. Hence, companies in the contact center solution market are targeting bot services for insurance companies who are able to advise and sell their insurance products to customers.
Gig agents are growing in popularity for contact center solutions. Since these agents are mostly students or stay-at-home parents, AI technologies are being deployed to interpret the request of customers and provide agents with visual guidance for resolution.
Contact Management Software Grow Popular for Personalized and Convenient Customer Interactions
Contact center software solutions are being used by companies in order to gain a competitive edge. The software are capable of enabling positive customer interaction and deliver a seamless experience in terms of providing personalized services. Hence, companies in the contact center solution market, such as Aspect, is increasing its marketing capabilities to gain visibility for its contact management software that facilitates live interactions and mobile communications.
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The delivery of powerful, personalized, and convenient interactions has become the key focus point for service providers in the contact center solution market. Contact agents are able to comply with key regulations with the assistance of contact management software in terms of providing advanced routing and dialing solutions.
Contact Center Solution Market: Key Players
Key players operating in the global contact center solution market are 8×8, Inc., Alcatel-Lucent International, Avaya, Inc., Cisco Systems, Inc., Five9, Inc., Huawei Technologies Co., Ltd., IBM Corporation, Mitel Networks Corp., NICE Ltd., Oracle Corporation, Salesforce.com, Inc., SAP SE, West Corporation, Zendesk Inc., and ZTE Corporation.
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