USD 5.99 billion growth expected in Contact Center Market | 7.57% YOY growth achieved in 2020 | Technavio

NEW YORK, May 26, 2022 /PRNewswire/ -- The "Contact Center Market by Type, Deployment, and Geography - Forecast and Analysis 2021-2025" report has been added to Technavio's offering. According to the report, the market will observe an incremental growth of USD 5.99 billion between 2020 and 2025. The market witnessed a YOY growth of 7.57% in 2020 and the growth momentum is expected to accelerate at a CAGR of 8.58% during the forecast period.

Download a Sample Report for more highlights on the market size, growth momentum, and YOY growth rates.

The global contact center market is fragmented. It includes a substantial number of international and regional vendors. The rising competition in the market is driving vendors to differentiate themselves based on service qualities and innovations.

The rising adoption of cloud-based contact centers has been instrumental in driving the growth of the market. However, the inability to achieve an ASA might hamper the market growth. Competitors have to focus on differentiating their product offerings with unique value propositions to strengthen their foothold in the market. Market vendors also have to leverage the existing growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. 8x8 Inc., ALE International, Aspect Software Inc., Avaya Holdings Corp., Cisco Systems Inc., Enghouse Systems Ltd., Five9 Inc., Genesys Telecommunications Laboratories Inc., Mitel Networks Corp., and NEC Corp. are among some of the major market participants.

For additional insights into the vendor landscape, View Our Sample Report.

Contact Center Market 2021-2025: Segmentation

The global contact center market is segmented as below:

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

The voice-based segment accounted for the largest market share in 2021. The use of voice-based interaction is expected to maintain its dominance during the forecast period. However, the growth momentum in the segment is expected to decrease during the forecast period, owing to the use of IVR technology, live chat, and social media-based interaction.

• Geography
• APAC
• North America
• Europe
• South America

About 50% of the market growth will originate in APAC during the forecast period. Excellent service delivery, multilingual proficiency, strong infrastructure, and competitive pricing are some of the factors that ensure that APAC remains the leading contact center market for global enterprises. Another reason for the growth of the contact center market in APAC is the increasing adoption of the cloud-based deployment model among the contact centers in the region.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The contact center market report covers the following areas:

• Contact Center Market Size
• Contact Center Market Trends
• Contact Center Market Industry Analysis

Contact Center Market 2021-2025: Key Highlights

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will assist contact center market growth during the next five years
• Estimation of the contact center market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the contact center market
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of contact center market vendors

Related Reports:

• Call Center Outsourcing Market in Europe by End-user and Geography - Forecast and Analysis 2021-2025
• Cloud-based Contact Center Market by Component and Geography - Forecast and Analysis 2022-2026

Table of Contents:

1 Executive Summary

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 01: Parent market
• Exhibit 02: Market characteristics

• 2.2 Value chain analysis
• Exhibit 03: Value Chain Analysis: IT consulting and other services

3 Market Sizing

• 3.1 Market definition
• Exhibit 04: Offerings of vendors included in the market definition

• 3.2 Market segment analysis
• Exhibit 05: Market segments

• 3.3 Market size 2020

• 3.4 Market outlook: Forecast for 2020 - 2025
• Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ billion)
• Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)

4 Five Forces Analysis

• 4.1 Five forces summary
• Exhibit 08: Five forces analysis 2020 & 2025

• 4.2 Bargaining power of buyers
• Exhibit 09: Bargaining power of buyers

• 4.3 Bargaining power of suppliers
• Exhibit 10: Bargaining power of suppliers

• 4.4 Threat of new entrants
• Exhibit 11: Threat of new entrants

• 4.5 Threat of substitutes
• Exhibit 12: Threat of substitutes

• 4.6 Threat of rivalry
• Exhibit 13: Threat of rivalry

• 4.7 Market condition
• Exhibit 14: Market condition - Five forces 2020

5 Market Segmentation by Type

• 5.1 Market segments
• Exhibit 15: Type - Market share 2020-2025 (%)

• 5.2 Comparison by Type
• Exhibit 16: Comparison by Type

• 5.3 Voice-based - Market size and forecast 2020-2025
• Exhibit 17: Voice-based - Market size and forecast 2020-2025 ($ billion)
• Exhibit 18: Voice-based - Year-over-year growth 2020-2025 (%)

• 5.4 Text-based - Market size and forecast 2020-2025
• Exhibit 19: Text-based - Market size and forecast 2020-2025 ($ billion)
• Exhibit 20: Text-based - Year-over-year growth 2020-2025 (%)

• 5.5 Social media-based - Market size and forecast 2020-2025
• Exhibit 21: Social media-based - Market size and forecast 2020-2025 ($ billion)
• Exhibit 22: Social media-based - Year-over-year growth 2020-2025 (%)

• 5.6 Market opportunity by Type
• Exhibit 23: Market opportunity by Type

6 Market Segmentation by Deployment

• 6.1 On-premises

• 6.2 Cloud-based

7 Customer landscape

8 Geographic Landscape

• 8.1 Geographic segmentation

• 8.2 Geographic comparison

• 8.3 North America - Market size and forecast 2020-2025

• 8.4 Europe - Market size and forecast 2020-2025

• 8.5 APAC - Market size and forecast 2020-2025

• 8.6 South America - Market size and forecast 2020-2025

• 8.7 MEA - Market size and forecast 2020-2025

• 8.8 Key leading countries

• 8.9 Market opportunity by geography

9 Drivers, Challenges, and Trends

• 9.1 Market drivers

• 9.2 Market challenges

• 9.3 Market trends

10 Vendor Landscape

• 10.1 Overview

• 10.2 Landscape disruption

• 10.3 Competitive scenario

11 Vendor Analysis

• 11.1 Vendors covered

• 11.2 Market positioning of vendors

• 11.3 8x8 Inc.

• 11.4 ALE International

• 11.5 Aspect Software Inc.

• 11.6 Avaya Holdings Corp.

• 11.7 Cisco Systems Inc.

• 11.8 Enghouse Systems Ltd.

• 11.9 Five9 Inc.

• 11.10 Genesys Telecommunications Laboratories Inc.

• 11.11 Mitel Networks Corp.

• 11.12 NEC Corp.

12 Appendix

• 12.1 Scope of the report

• 12.2 Currency conversion rates for US$

• 12.3 Research methodology

• 12.4 List of abbreviations

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.

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