Contact Center Software Market to Grow 14 Percent Per Year

Industry research firm MarketsandMarkets has projected the global contact center software market to grow at a compounded annual rate of 14 percent through 2024, when it is expected to reach $38.6 billion.

The report identifies modern contact centers as the key channel of acquiring customers, making it vital for them to take full advantage of advanced analytics to enhance agent performance and improve customer service. Growing adoption of contact center solutions to offer enhanced customer experience via channels such as voice, video, web, mobile, and social media is another factor that is expected to drive the market growth.

The report segments the contact center software market into solution and services. The solution market includes computer telephony integration, interactive voice response, automatic call distribution, dialers, reporting and analytics, workforce optimization, security, and more. The services market includes both professional and managed services.

Key companies profiled in the report include Cisco Systems, IBM, Oracle, NICE, 8x8, Aspect Software, 3Clogic, Avaya, Verizon, and BT Group.