Omnichannel Delivery and Analytics Capabilities Drives Growth in Contact Center System Market
Vendors must leverage Greenfield opportunities to solidify position as strategic solution providers for omnichannel CX solutions, finds Frost & Sullivan's Digital Transformation team
Apr 13, 2017, 09:15 ET
SANTA CLARA, Calif., April 13, 2017 /PRNewswire/ -- All segments of the global contact center systems market are experiencing a steady decline in demand, except analytics. On-premises system revenues, in particular, continue to drop as significant portions of the available customer spend are diverted to hosted/cloud solutions. Contact center systems providers (CCSPs) face market disruption at multiple levels including competition, innovation, pricing, packaging, feature/functionality, and business models.
Frost & Sullivan analysis titled, Growth Opportunities in the Global Contact Center Systems Market - Forecast to 2020, reveals market revenues will further decline in all product segments except analytics. Total market revenue is expected to decline at a CAGR of 1.9 percent, while Contact Center analytics, the only growing product category, is expected to grow at a CAGR of 4.6 percent through 2020.
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"The contact center systems market is mature and vastly competitive, and companies need to differentiate offerings through seamless integration of applications, new interaction channels, and increased use of rich analytics capabilities," said Digital Transformation Principal Analyst Nancy Jamison. "Stakeholders must encompass the vast changes in adjunct technologies that will impact customer care, including Big Data, Internet of Things, machine learning, artificial intelligence (AI), video, and augmented reality."
Leading contact center suppliers continue to expand their hosted/cloud offerings, both directly and through channel partners, in order to reduce customer churn to pure-play hosted/cloud solution providers. Market majors, such as Avaya, Genesys, Verint, NICE, Cisco, Unify and SAP, are also successfully bridging the gap between multichannel customer contact and omnichannel customer care by collaborating with customers to extend services out to the greater enterprise.
"Businesses with unamortized and still-functional premises-based solutions will see the economic benefits in upgrading functionality on existing systems," noted Jamison. "Upgrading/replacing agent desktop and workforce optimization (WFO) applications will improve performance and CX."
Growth Opportunities in the Global Contact Center Systems Market, Forecast to 2020, is part of Frost & Sullivan's Customer Contact Growth Partnership Service program.
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Growth Opportunities in the Global Contact Center Systems Market, Forecast to 2020
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SOURCE Frost & Sullivan