The global contact center market is anticipated to witness momentous growth in coming years owing to rising adoption of customer relationship management (CRM) in businesses. Contact center is a particular department in an organization that manages queries from consumers related to product or services. The department provides solutions using various mediums, such as e-mail, telephone, letter, and live chats. These communication channels allow business departments to interact with consumers and other organizations and take their feedbacks. The facility plays a key role in the successful growth of any business as consumer satisfaction is the most essential aspect. It collects essential feedback from consumers and allows businesses to improve their services and products as per consumer’s demand.
Integration of artificial intelligence and machine learning into business processes and advancements in CRM technology is likely to improve consumer experience. In addition, growing number of social media users and increasing interactions among them can boost the market growth. Most of the businesses are likely to use Twitter and Facebook accounts to update their consumers regarding new products and services and receive feedback. Such activities can help businesses to boost their sales by analyzing consumer experiences, which could, in turn, drive the market in forthcoming years.
Improper implementation of CRM solution is likely to hamper the business reputation, which could, as a result restrain the market growth. In addition, growing adoption of social media platforms, such as Facebook and Twitter, to provide feedback or gather information related to products or services from companies can challenge the market. Consumers expect quick reply to their queries placed on social media and company’s failure to respond in time can lead to loss of potential customers, which could, in turn, hinder the market growth in the forthcoming years.
Increasing investments in these facilities by companies to provide better consumer experience is anticipated to present lucrative opportunities for the market. For instance, AVOXI is expected to invest $10m to expand its cloud contact center service portfolio. In addition, the investment will be used to accelerate its sales, product development, and marketing efforts.
The market can be segregated on the basis of deployment type, services, and application. Based on deployment type, the market can be bifurcated into on premise and cloud based. Key services offered in the market include support and maintenance, training & consulting, integration and deployment, and managed services. Healthcare, government, consumer goods and retail, IT & telecom, and travel and hospitality are the leading applications in the market.
North America is a leading region in the market owing to implementation of contact centers by major tech companies, such as Google, IBM, and Cisco. These companies are increasingly spending on adoption of new technologies and are expected to implement cloud based contact center attributed to benefits, such as reduced cost, better return on investment, and better customer experience. Moreover, they are likely to open such departments to handle consumer services along with other activities, such as debt collection, telemarketing, and billing services. For instance, Account Discovery Systems (ADS) partnered with Tudor Consultants to launch a contact center in the Jamaican city of Kingston.
Asia Pacific is considered a major provider of contact center solutions to companies across the globe. The region is likely to witness robust growth in coming years owing to rise in the number of companies outsourcing their contact centers to countries, such as India and Philippines. English being the predominant language in these countries is likely to gain traction among companies to set up their facilities. United States is expected to be the leading outsourcing partner of Philippines, followed by New Zealand and Australia. For instance, Ikea is expected to open its world’s largest store in the Philippines along with an integrated contact center.
Europe is likely to emerge highly lucrative in the forthcoming years due to growing demand for quality contact center service providers by companies. Local companies are expected to adopt service providers offering multichannel services so that customers can communicate any time through any device. Increasing number of companies opening such departments is also likely to boost the market growth. Moreover, growing awareness among consumers regarding importance of these facilities and consumer feedback can impel the regional market growth.
Some of the leading companies operating in the contact center market are Cisco Systems, Oracle, Genesys, Aspect Software, and Connect First.
Research Support Specialist, USA