Contact Center Solutions Market to Top $118.6 Billion by 2030

Transparency Market Research projects the global contact center solutions market to reach $118.6 billion by 2030, growing at a compound annual rate of 19.3 percent. Much of that growth is being fueled by the growing need of businesses to provide prompt and effective customer solutions.

The ongoing COVID-19 pandemic has necessitated businesses to be more reliant on contact centers to serve customers satisfactorily, the research found, noting that cloud contact center solutions have gained prominence, particularly as companies look to efficiently use remote workforces.

The growing trend of home sourcing has opened new frontiers in the contact center solution market, TMR noted, pointing also to the emergence of artificial intelligence, visual support, predictive analytics, smart desktops, and sentiment recognition as key technology innovations. Other key areas of interest include voice messaging, social media, co-browsing, self-service bots, and augmented-reality (AR) technologies, it found.

Some of the key players in the contact center solutions market are Alcatel-Lucent, Cisco Systems, Huawei Technologies, Mitel Networks, Oracle, SAP, Zendesk, Avaya, Five9 (Zoom), IBM, NICE, Salesforce, and ZTE, according to the report.