Contact Center Transformation Market Growth & Trends
The global contact center transformation market size is expected to reach USD 35.19 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 14.2% over the forecast period. The contact center transformation solutions are allowing agents to efficiently up-sell and cross-sell products in addition to effectively handling a service call. Businesses are widely deploying intelligent call-routing technology as this technology is helping them in prioritizing calls based on the customer profile and agent skills.
Increasing trend of monitoring business brand on social media channels is expected to fuel the adoption of contact center transformation solutions by businesses. Also, businesses are integrating their operations to support customers over social media channels. This social media channel support offered by businesses is helping customers in their buying decisions.
There is an increasing need to drill out actionable insights from information collected by contact centers. Contact center transformation solutions are helping businesses in propelling sales by offering actionable insights for better customer experience. In addition, these solutions also help businesses in forecasting call volumes and scheduling call-handling skilled agents.
The COVID-19 pandemic is expected to fuel the development of digitally optimized contact center, thereby creating growth opportunities for the market. The contact center transformation solutions are allowing businesses turn insights into actions with real-time and historical reporting and benchmarking tools. Furthermore, these solutions leverage multiple real-time and historical reports to make informed and timely decisions.
Contact Center Transformation Market Report Highlights
- The omnichannel routing segment is expected to witness significant growth over the forecast period, as this solution helps businesses in automating workflows and delivering fast and personalized services to their customers
- Managed services offer a wide range of services to contact centers, such as resource engagement, strategic business partnership, and end to end customer engagement. These services are helping business in enhancing their customer experience, thereby accelerating the segment growth
- Numerous end-use industries are focusing on adopting hosted or cloud-based solutions owing to various benefits it offers, such as faster deployment, improved flexibility, and better scalability
- The small and medium enterprises segment is expected to emerge as the fastest growing segment. Increasing adoption of cloud-based solutions by small & medium enterprises allow them to integrate their different business tools together to create one efficient platform. This, in turn, is significantly helping small and medium enterprises in improving efficiency and productivity
- The consumer goods and retail industry is focusing on adopting new business models to address customer needs by offering differentiated user experience. The consumer goods and retail contact centers are offering customers with various convenient ways of communication and providing personalized services, thereby fueling the segment demand
- The growing number of small and medium enterprises coupled with the technological advancements in Asia Pacific is expected to create growth opportunities for the contact center transformation market in the region