SINGAPORE, April 5, 2017 /PRNewswire/ -- The emergence of enhanced customer experience (CX), replacement of legacy systems, upgrade of existing solution portfolios, and increasing focus on the optimization of contact center operations are factors driving growth in the Asia-Pacific contact center application market. To gain a competitive advantage and market share, contact center solution vendors should actively roll out and push their cloud contact center services in alliance with global and regional telecommunication companies.
"Avaya, Genesys, Verint Systems, NICE Systems, and Cisco strategically offer omnichannel customer experience (CX) to attract business across end-user segments," said Frost & Sullivan Digital Transformation Industry Analyst Shuishan Lu. "A richer CX is a significant differentiator. For future revenues, vendors should look toward harnessing the increased integration of Web real-time communications, video, and artificial intelligence with contact center systems and infrastructure."
Asia-Pacific Contact Center Applications Market is a part of Frost & Sullivan's Customer Contact Growth Partnership Service program. The study points out that customer behavior analytics, the optimization of operating efficiency, and the enhancement of customer retention are three major targets for the Asia-Pacific contact center industry. The region's contact center applications market size is expected to grow from US$655.4 million in 2015 to reach US$790.9 million by 2022, at a compound annual growth rate of 2.7 percent.
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The continuous improvement of telecommunication services and Internet Protocol (IP) infrastructure in Southeast Asian markets bodes well for organizations to establish their contact center infrastructure and bring greenfield opportunities to the region. Other regional developments include:
- Growing markets such as China, India, Indonesia, Malaysia, the Philippines, Thailand and Vietnam can capture opportunities in hospitality, retail, and outsourcing sectors where many organizations are looking to scale up the size of their existing contact center infrastructure.
- Legacy systems and continuing upgrades will sustain growth in mature markets such as Australia, New Zealand, Japan, South Korea, Hong Kong, Taiwan, and Singapore. The transformation from inbound call center to full-media customer engagement center will steadily drive the adoption of workforce management and analytics applications.
- In Australia, leading vendors benefit from their established customer base that helps generate a major proportion of revenue through contract renewals and regular upgrades.
- In India, a rise in demand from end customers for fast and responsive services has caused an increase in the adoption of cloud-based centers.
"Contact center vendors need to find a way to tap greenfield opportunities while still catering to their large installed base of premise products," observed Lu. "Vendors that look toward investing in customer-contact optimization and superior customer experience through major channels of customer interaction, such as social media, self-service, and mobile applications, are expected to grow."
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Asia-Pacific Contact Center Applications Market
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SOURCE Frost & Sullivan