Contact Center Market Size, Share Global Analysis Report, 2020–2026

Industry Insights

[190+ Pages Report] According to the report published by Facts Factors, the global contact center market size was worth around USD 20161.96 million in 2019 and is predicted to grow to around USD 54,287.53 million by 2026 with a compound annual growth rate (CAGR) of roughly 15.2% between 2020 and 2026. The report analyzes the global contact center market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the contact center market.

This specialized and expertise oriented industry research report scrutinizes the technical and commercial business outlook of the contact center industry. The report analyzes and declares the historical and current trends analysis of the contact center industry and subsequently recommends the projected trends anticipated to be observed in the contact center market in the upcoming years.

The contact center market report analyzes and notifies the industry statistics at the global as well as regional and country levels in order to acquire a thorough perspective of the entire contact center market. The historical and past insights are provided for FY 2016 to FY 2019 whereas projected trends are delivered for FY 2020 to FY 2026. The quantitative and numerical data is represented in terms of both volumes (Units) and value (USD Million) from FY 2016 – 2026.

Key Insights from Primary Research        

• As per our primary respondents, the global contact center market is set to grow annually at a rate of around 15.2%
• It was established through primary research that the global contact center market was valued at around USD 20161.96 Million in 2019.
• North America held the largest market share in 2019 and valued at USD 7,378.1 Million. It is due to is due to the presence of a huge number of contact center software vendors in United States, and Canada.
• On basis of type segment, ‘voice-based’ dominated the global contact center market in 2019 and valued at around USD 9,652.6 Million. The segment is expected to grow at a CAGR of 14.9%. The ‘social based’ type is expected to grow at a fastest rate over the projected years.
• Based on deployment, the global contact center market was led by cloud-based solutions in 2019 and valued at around at USD 9,990.0 Million. This segment is expected to register at a CAGR rate of 18.3%
• Based on application, the ‘BFSI’ dominated the global contact center market in 2019 and valued at around at USD 6,859.0 Million.

Key Recommendations from Analysts

• As per our analysts, the global contact center market is expected to grow significantly over the forecast period.
• As per analysts, the rising health concerns and increase in aesthetic treatments and chronic illnesses is driving the growth of the market.
• As per our analysts, the outbreak of COVID-19 pandemic led the demand for contact center.
• The strategic and competitive advantage provided by the e-commerce is estimated to drive this market globally.
• Our team of analysts has identified, that Asia Pacific is projected to be the fastest growing market in the coming years, owing to the number of favorable government initiatives to promote business process automation and adoption of cloud-based solutions.

The quantitative data is further underlined and reinforced by comprehensive qualitative data which comprises various across-the-board market dynamics. The rationales which directly or indirectly impact the contact center industry are exemplified through parameters such as growth drivers, restraints, challenges, and opportunities among other impacting factors.

Throughout our research report, we have encompassed all the proven models and tools of industry analysis and extensively illustrated all the key business strategies and business models adopted in the contact center industry. The report provides an all-inclusive and detailed competitive landscape prevalent in the contact center market.

The report utilizes established industry analysis tools and models such as Porter’s Five Forces framework to analyze and recognize critical business strategies adopted by various stakeholders involved in the entire value chain of the contact center industry. the contact center market report additionally employs SWOT analysis and PESTLE analysis models for further in-depth analysis.

The report study further includes an in-depth analysis of industry players' market shares and provides an overview of leading players' market position in the contact center sector. Key strategic developments in the contact center market competitive landscape such as acquisitions & mergers, inaugurations of different products and services, partnerships & joint ventures, MoU agreements, VC & funding activities, R&D activities, and geographic expansion among other noteworthy activities by key players of the contact center market are appropriately highlighted in the report.

With the progressive technological advancements in this inter-connected world, the contact center has become an interaction hub for enterprises. The evolving needs of the customer and client requirements are changing the role of the contact center. It is no longer focused solely on revenue and service but also, exploits opportunities to improve customer interaction. Nowadays, enterprises adopt automation, analytics, and bots to increase efficiency and provide a better quality experience. Contact center aids in finding out the customer perceptions about the companies by capturing feedbacks and demands, which in turn enhances the business performances.

Growing usage of automated and cloud-based systems is driving the global contact center market growth. Additionally, there has been an intensified need for cloud-based services that fuel business growth in recent years. However, concerns’ regarding data security are expected to deter market growth. Furthermore, businesses have been forced to concentrate on the development of technical factors, which is one of the key attributes for market development.

The contact center market research report delivers an acute valuation and taxonomy of the contact center industry by practically splitting the market on the basis of different types, applications, and regions. Through the analysis of the historical and projected trends, all the segments and sub-segments were evaluated through the bottom-up approach, and different market sizes have been projected for FY 2020 to FY 2026.

Report Scope

The regional segmentation of the contact center industry includes the complete classification of all the major continents including North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Further, country-wise data for the contact center industry is provided for the leading economies of the world.

The contact center market is segmented based on type, deployment, and application. On the basis of type segmentation, the market is classified into voice-based, text-based, social-based, and media-based. In terms of deployment, the market is divided into cloud-based, and on-premises. Based on application, the market has been fragmented into telecommunication, BFSI, government and public sector, healthcare and life science, retail, and consumer goods, among others.

Some of the essential players operating in the contact center market, but not restricted to include

•  8x8 Inc.
•  ALE International
•  Cisco Systems Inc.
•  Enghouse Systems Ltd.
•  Five9 Inc.
•  Genesys
•  Mitel Networks Corp
•  NEC Corp.
•  Teleperformance
•  Alorica
•  Atento S.A
•  Sykes Enterprises
•  Arvato
•  Serco Group
•  Acticall (Sitel)
•  Transcom
•  TeleTech
•  Concentrix (SYNNEX)
•  HKT Teleservices
•  Comdata Group
•  Aspect Software Inc
•  IBM
•  SAP

The taxonomy of the contact center industry by its scope and segmentation is as follows:

By Type Segmentation Analysis (Customizable)

• Voice-based
• Text-based
• Social-based
• Media-based

By Deployment Segmentation Analysis (Customizable)

• Cloud-based
• On-Premises

By Application Segmentation Analysis (Customizable)

• Telecommunication
• BFSI
• Government and Public Sector
• Healthcare and Life Science
• Retail and Consumer Goods
• Others

Regional Segmentation Analysis (Customizable)

• North America
  • The U.S.
  • Canada
• Europe
  • Germany
  • The UK
  • France
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa