Contact center market size to increase by USD 161.73 billion | North America will account for 34% of the market's growth during the forecast period - Technavio

NEW YORK, Nov. 1, 2023 /PRNewswire/ -- The Contact Center Market by Type, Deployment, and Geography - Forecast and Analysis 2023-2027 report has been published by Technavio. Market growth is estimated to accelerate at a CAGR of 9.33% and register an incremental growth of USD 161.73 billion during the forecast period. By region, the global contact center market is segmented into North America, APAC, Europe, South America, and the Middle East and Africa. North America will account for 34% of the market's growth during the forecast period. The growing adoption of contact center analytics, including multichannel customer interaction analytics, speech analytics, and contact center performance analytics applications in North America is driving the growth of the regional market. The report provides a comprehensive analysis of growth opportunities at regional levels, new product launches, the latest trends, and the post-pandemic recovery of the global market. Download a PDF Sample Report

Company profiles

The contact center market report includes information on the key products and recent developments of leading vendors, including:

• Avaya Holdings Corp: The company offers contact center services for data retrieval, real-time reporting, and an empowered workforce.
• Cisco Systems Inc: The company offers contact center services such as Webex for cloud migration and a unified open platform.
• Enghouse Systems Ltd: The company offers a contact center for services, enterprises, and SMBs.
• Five9 Inc: The company offers contact center solutions such as unified communications, agent desktops, and agent assist.
• Genesys Telecommunications Laboratories Inc: The company offers contact center services such as inbound, outbound, and voice services.
• Mitel Networks Corp.
• NEC Corp.
• NICE Ltd.
• SAP SE
• Vocalcom Group
• Vonage Holdings Corp.
• Zendesk Inc.
• ZTE Corp.
• To gain access to more vendor profiles available with Technavio, buy the report!

Market dynamics

The market is driven by factors such as the rising adoption of cloud-based contact centers, the necessity to improve CRM for effective revenue generation, and the integration of interactive voice response (IVR) into contact centers. However, the inability to achieve an ASA is hindering the market growth.

Competitive analysis

The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, and growth in market share, among others. Request a Sample

Market segmentation

• By type, the market is segmented into voice-based, text-based, and social media-based. The voice-based segment accounted for the largest share of the market.
• By geography, the market is segmented into North America, APAC, Europe, South America, and Middle East and Africa. North America held the largest share of the market.

Related Reports:

Data Security Market by Deployment, Type and Geography - Forecast and Analysis 2023-2027: The data security market is estimated to grow at a CAGR of 14.8% between 2022 and 2027. The size of the market is forecast to increase by USD 3,866.29 million. The stringent regulations regarding data protection are notably driving the market growth, although factors such as system integration and interoperability issues may impede the market growth.

Cloud-Based ITSM Market by Component, End-user and Geography - Forecast and Analysis 2023-2027: The cloud-based ITSM market is estimated to grow at a CAGR of 15.08% between 2022 and 2027. The size of the market is forecast to increase by USD 6,094.37 million. The growing need for control and accountability is notably driving market growth, although factors such as growing integration concerns in business organizations may impede market growth. 

Technavio's library includes over 17,000+ reports, covering more than 2,000 emerging technologies. Subscribe to our "Basic Plan" at just USD 5,000 and get lifetime access to Technavio Insights

What are the key data covered in this contact center market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the contact center market between 2023 and 2027
• Precise estimation of the size of the contact center market and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the contact center market across North America, APAC, Europe, South America, and Middle East and Africa        
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of contact center market vendors

Browse for Technavio "Information Technology" Research Reports

Table of Contents

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Deployment
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Company Landscape
12 Company Analysis
13 Appendix

About US

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio