CONTACT CENTER SOFTWARE MARKET SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS (2023 - 2028)

 The rising omnichannel approach to sales, coupled with the expanding e-commerce industry in North America, is driving the demand for contact center software. Companies are trying to expand their business portfolio in the region, due to the huge potential it offers.

For instance, the omnichannel, cloud-based contact center software provider, ZaiLab, announced its plans to expand its product offerings in North America.

Notably, the organizations are shifting their focus towards cloud-based solutions to enhance efficiencies and scalabilities. For instance, in October 2018, one of the largest sub-servicers of residential mortgages in the United States, PHH Mortgage moved its contact center to cloud-based architecture in alliance with Serenova.

The shift was primarily to enhance its customer experience. As a result, it is expected to compel other companies to move their software over cloud; thus creating an ample amount of opportunity for the industry players thereby having a positive impact on the market growth in the region over the forecast period.

    The Contact Center Software Market was valued at USD 20.18 billion in 2020 and is expected to reach USD 44.30 billion by 2026, at a CAGR of 14% over the forecast period 2021 - 2026. The contact center software market is primarily driven by the increasing need to enhance customer experience, at relatively lower costs. This helps in catering to the intensified competition and increased customer expectations stemming from the advancements in technology. These advancements have considerably increased the barraging power of customers in the supply chain, thus reducing the hidden cost of switching vendors in most of the services, as the demand for hardware component is reducing in the businesses.

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