Global Contact Center Transformation Market By Component (Software and Services), By Deployment Type (On-premise and Cloud), By Organization Size (Large Enterprises and Small & Medium Enterprises), By End User (BFSI, Retail & Consumer Goods, Government & Defense, Travel & Hospitality, Healthcare & Life Sciences, Telecom & IT and Others), By Region, Industry Analysis and Forecast, 2020 - 2026
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Market Report Description
The Global Contact Center Transformation Market size is expected to reach $31.4 billion by 2026, rising at a market growth of 17.4% CAGR during the forecast period. Growth in consumer interaction through social media platforms is projected to fuel market growth over the forecast period. The social media platform makes it easy for an agent to work by providing insight into customer behavior and prior complaints while on a customer call. Agents have a single device that allows them to control all social media networks and can easily switch between them. Different innovations, such as automation and artificial intelligence (AI), further improve technological skills and maximize agent productivity.
Global Contact Center Transformation Market Size
Customer loyalty is essentially the primary objective of contact center efficiency because effective customer experience management improves immediate productivity and long-term growth. Transformation automation tools help companies increase the accuracy and reliability of consumer requests and deliver fast customer response. In addition, an integrated automation solution links apps and processes in a common console that helps agents to create a cohesive knowledge base that delivers appropriate data in real time. It helps agents to be liberated from the obligation to manage manual, repetitive tasks, and to concentrate on improving their customer-centric skills.
Call center transformation strategies allow agents to effectively up-sell and cross-sell products alongside the effective handling of a service call. Businesses are increasingly implementing adaptive call-routing technologies, since this platform lets them optimize calls based on client preferences and employee expertise. This can be attributed to a growing demand for the outsourcing of contact center operations. Customers can conveniently link to contact centers with optimized cloud services. Customers also require agents to provide immediate or live assistance. Call Center Transformation Automation Systems help companies channel calls to specific representatives so that appropriate support can be delivered to consumers.
Contact Center Transformation Market Share
Based on Component, the market is segmented into Software and Services. Software market is further bifurcated across Workforce Engagement, Real Time Repotting & Analytics, Social Media Analytics, Visual Network Analytics & Omnichannel Routing, Voice Biometrics and Others. Based on Deployment Type, the market is segmented into On-premise and Cloud. Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on End User, the market is segmented into BFSI, Retail & Consumer Goods, Government & Defense, Travel & Hospitality, Healthcare & Life Sciences, Telecom & IT and Others. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
Contact Center Transformation Market Cardinal Matrix
Free Valuable Insights: Global Contact Center Transformation Market to reach a market size of $31.4 billion by 2026
The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix; Microsoft Corporation, AT&T, Inc., and Cisco Systems, Inc. are the forerunners in the Contact Center Transformation Market. Companies such as Genesys Telecommunications Laboratories, Inc., Five9, Inc., and RingCentral, Inc., AGC Networks Ltd., Aculab PLC, Talkdesk, Inc., and SAP SE are some of the key innovators in the market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include AT&T, Inc., Cisco Systems, Inc., Microsoft Corporation (Metaswitch Networks), RingCentral, Inc., SAP SE, Five9, Inc., AGC Networks Ltd., Talkdesk, Inc., Genesys Telecommunications Laboratories, Inc., and Aculab PLC.
Recent Strategies Deployed in Contact Center Transformation Market
» Partnerships, Collaborations, and Agreements:
- Jul-2020: Aculab collaborated with Nomidio following which the latter company integrated Aculab’s VoiSentry voice recognition engine into its cloud-based Identity-as-a-Service (IDaaS) platform. The collaboration would allow Nomidio clients to verify the identities of their customers with voice biometrics.
- Jul-2020: Aculab came into partnership with Route One Connect, a specialist in delivering exceptional customer experiences for contact centers using Amazon Connect and the wider AWS ecosystem. Following this partnership, Route One Connect would offer Aculab’s VoiSentry voice biometric solution to its clients for streamlining the identification and verification (ID&V) process for callers.
- Jun-2020: AT&T signed an agreement with Salesforce, a cloud-based software company. The agreement was aimed to deliver entirely new connected experiences for AT&T’s millions of customers. AT&T has deployed Salesforce Customer 360 to create a single view of every customer across every touchpoint, whether it happens in person at a storefront, over the phone, in a business setting, or on any AT&T digital property. Salesforce’s Customer 360 would enable AT&T to deliver highly-tailored customer experiences seamlessly across retail, marketing, online, business, and more.
- Jun-2020: Genesys announced its collaboration with Avtex, a customer experience (CX) consulting and Technology Company. The latter company has moved to the cloud with the former company. By deploying Genesys Cloud, an all-in-one solution, and the world’s leading public cloud contact center platform, Avtex has a unified technology solution across its support teams, resulting in improved visibility and cost controls.
- May-2020: AT&T in collaboration with Cisco, launched Webex Calling with AT&T aimed at expanding access to cloud-based phone capabilities. It would help more businesses transform their voice communications to better adapt to evolving needs using AT&T's highly secure and reliable network.
- May-2020: Genesys came into partnership with Maximus, a provider of government services. The partnership was focused on providing the Maximus Genesys Engagement Platform, an integrated, cloud-based omnichannel contact center solution for federal, state, and local government agencies. Powered by Genesys Engage, the Engagement Platform provides an integrated set of features and functionalities across channels through a single voice and digital user interface.
- Mar-2020: AT&T Healthcare collaborated with OrangeHook subsidiary, LifeMedID, and interactive solution provider, Elo. The collaboration was focused on providing a frictionless check-in technology supporting different biometric modalities to reduce patient wait times and boost security. The solution is biometric-agnostic and can be easily customized by healthcare organizations.
- Mar-2020: Metaswitch teamed up with Hutchison Drei Austria. Following this collaboration, the latter company selected Metaswitch’s MaX UC portfolio for delivering new converged Unified Communications & Collaboration (UC&C) solutions to its business users.
- Jan-2020: Aculab partnered with IPI, the digital contact center specialist. The collaboration integrated Aculab’s VoiSentry voice biometric system into IPI’s speech recognition applications for reducing the friction experienced during the identity and verification process (ID&V) in the contact center.
- Jan-2020: Genesys extended its partnership with Microsoft for providing enterprises with a new cloud service for contact centers that enabled them to deliver superior interactions for customers. With the omnichannel customer experience solution, Genesys Engage running on Microsoft Azure, enterprises have the security and scalability they need to manage the complexities involved with connecting every touchpoint throughout the customer journey.
- Nov-2019: Cisco entered into partnership with TTEC Holdings, Inc. following which TTEC Digital became the first authorized reseller of Webex Contact Center Enterprise. This Webex Contact Center Enterprise aimed to provide an enterprise-grade CCaaS solution, at their unmatched standards for a highly secure global scale and reach.
- Nov-2019: Talkdesk came into partnership with Passage AI, a leader in artificial intelligence (AI)-enabled conversational interfaces. The partnership was focused on delivering sophisticated and highly accurate AI chatbot experiences through the Talkdesk platform. Passage AI’s chatbot technology seamlessly integrated through an app on the Talkdesk platform, and Talkdesk customers can use AI to automatically respond to their customers, thereby lowering Customer Service costs and improving agent productivity.
- Oct-2019: RingCentral announced partnership with ConvergeOne, a leading global IT services provider of collaboration and technology solutions. Following the partnership, ConvergeOne provided RingCentral solutions, including RingCentral Office and RingCentral Contact Center, to business customers.
- Oct-2019: RingCentral signed partnership agreement with Avaya Holdings, a global leader in solutions to enhance and simplify communications and collaboration. Under this partnership, Avaya introduced Avaya Cloud Office by RingCentral, new global unified communications as a service (UCaaS) solution. Avaya Cloud Office expanded the company’s industry-leading portfolio to offer a full suite of UC, CC, UCaaS, and CCaaS solutions to a global customer base.
- Sep-2019: Cisco extended its partnership with Tata Communications, the leading global digital infrastructure provider. This expansion was focused on providing enterprises a secure, fully-managed, multi-channel, intelligent, and cloud-based Cisco Webex Contact Center solution. This joint offering is an end-to-end managed solution with global reach enabled by Tata Communications’ global digital infrastructure and managed services expertise, which companies of all sizes can now leverage for competitive advantage.
- Sep-2019: Qualtrics, a subsidiary of SAP SE collaborated with Accenture for changing the traditional approach towards employee engagement by creating more personalized employee experiences. Qualtrics EmployeeXM has been integrated into Accenture’s Intelligent Enterprise Talent and HR solutions and delivered through Accenture myConcerto, an insight-driven digital platform that already harmonized the power of SAP technologies such as SAP SuccessFactors with Accenture’s industry and functional expertise to create exponential business outcomes.
- Apr-2019: Metaswitch together with Transaction Network Services (TNS) announced the launch of Call Guardian Authentication Hub, a new hosted STIR/SHAKEN solution. This solution enabled carriers to quickly and economically go-to-market with a call authentication solution.
- Apr-2019: Talkdesk signed partnership agreement with Mitel, a global leader in business communications. The partnership was aimed to help enterprises transform to meet the demands of today’s digital consumer. Mitel’s MiCloud Connect CX, a new, all-in-one cloud contact center powered by Talkdesk, offers enterprises an innovative Contact Center as a Service (CCaaS) solution backed by Mitel’s extensive global Unified Communications (UC) and Unified Communications as a Service (UCaaS) footprint.
» Acquisition and Mergers:
- May-2020: AGC Networks signed an agreement to acquire Fujisoft (along with its associated companies in UAE). Fujisoft is a technology company focused on bringing the best possible technology solutions to customers in the region. The acquisition would increase and strengthen AGC's presence and offerings in the MEA region. This would also broaden the current solution portfolio of AGC and Black Box across Cloud Computing & Virtualization, Cyber Security, Managed SoC & NoC, Managed Services, Data Center, and Collaboration solutions.
- Mar-2020: Genesys acquired nGUVU, a cloud-based software provider of gamified solutions. Through this acquisition, gamification has been added to its comprehensive workforce engagement management (WEM) suite.
- Feb-2020: Five9, Inc. signed a definitive agreement to acquire Virtual Observer, formerly known as CSI, an innovative provider of cloud-based Workforce Optimization (WFO). The acquisition strengthened its ability to inspire agents and maximized the quality of customer interactions while reducing costs and maintaining regulatory compliance.
- Nov-2019: Five9 took over Whendu, owner of a leading Integration Platform-as-a-Service (iPaaS) platform. The acquisition accelerated the former company's contact center migration to the cloud by making it easier for enterprises to integrate with their existing environment and carry forward customized business processes.
- Oct-2019: Cisco completed the acquisition of CloudCherry, a Customer Experience Management (CEM) company that provides customer journey mapping, out-of-the-box integrations, and predictive analytics. The acquisition enabled the company to transform its contact center from delivering reactive care to providing cutting edge predictive support and move from isolated customer interactions to cohesive, engaging experiences resulting in improved business outcomes.
- Jan-2019: AGC Networks acquired Black Box Corporation, a leading digital solutions provider. The acquisition expanded AGC’s presence and offerings in North America. Together, the companies have created a unique organization that has the scale to deliver world-wide technical solutions to the largest and most complex organizations.
- Jan-2019: RingCentral signed a definitive agreement to acquire Connect First, a cloud-based outbound/blended customer engagement platform. The acquisition of Connect First complemented its current Customer Engagement portfolio and provided transformative and differentiated customer experiences.
- Aug-2016: Genesys announced an agreement to acquire Interactive Intelligence Group, Inc., a global leader of cloud and on-premise solutions for customer engagement, communications, and collaboration. The acquisition would accelerate Genesys’ ability to power the world’s best customer experiences at scale, anytime, anywhere over any channel, in the cloud and on-premise.
» Product Launches and Product Expansions:
- May-2020: AT&T introduced the AT&T Cloud Contact Center platform. The platform combined robust contact center functionality with AT&T's global network and a comprehensive suite of voice and collaboration tools.
- Feb-2020: Talkdesk released Talkdesk Business Transformation Services for guiding companies through contact center transformations. Business Transformation Services introduced a new and innovative operating model that merged Talkdesk’s industry-leading people, process, technology, and expertise within a customer success outcome methodology.
- Jan-2020: Cisco made three developments; an infusion, a new customer experience solution, and a new cloud contact center product. These developments are Cisco (Voicea) and Google Cloud’s Contact Center AI Integrations, Webex Experience Management, and Webex Contact Center Enterprise.
- Oct-2019: SAP SE made enhancements to its SAP Digital Interconnect group with the launch of the SAP Contact Center 365 cloud service. This software-based omnichannel contact center service enabled frictionless customer service as part of the overall communications-platform-as-a-service (CPaaS) strategy. SAP Contact Center 365 facilitated seamless communication with customers through their preferred communication channels and equipped managers and team leaders with the tools required to stay a step ahead of customers.
- Mar-2019: Five9, Inc. unveiled Spring Release 2019. This expanded the functionality of the Five9 service for addressing the changing nature of business and customer expectations. Spring Release 2019 introduced new capabilities and updates in three key areas such as the ability to adapt the contact center to meet a customer’s specific needs, Enhancements to the reliability, scalability, and security of the cloud contact center, and Empowerment of agents to deliver a superior customer experience.
Scope of the Contact Center Transformation Market Analysis
- Workforce Engagement
- Real Time Repotting & Analytics
- Social Media Analytics
- Visual Network Analytics & Omnichannel Routing
- Voice Biometrics
By Deployment Type
By Organization Size
- Large Enterprises
- Small & Medium Enterprises
- Retail & Consumer Goods
- Government & Defense
- Travel & Hospitality
- Healthcare & Life Sciences
- Telecom & IT
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
- AT&T, Inc.
- Cisco Systems, Inc.
- Microsoft Corporation (Metaswitch Networks)
- RingCentral, Inc.
- SAP SE
- Five9, Inc.
- AGC Networks Ltd.
- Talkdesk, Inc.
- Genesys Telecommunications Laboratories, Inc.
- Aculab PLC
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Contact Center Transformation Market Related Reports:
What would be the size of contact center transformation market by 2026?
The contact center transformation market is projected to reach USD 31.4 billion by 2026.
What are the factors that anticipated to drive contact center transformation market trends?
The major factors that are anticipated to drive the contact center transformation industry include pay-per-use subscription model for charging end-users.
Who are the leading players in contact center transformation market?
AT&T, Inc., Cisco Systems, Inc., Microsoft Corporation (Metaswitch Networks), RingCentral, Inc., SAP SE, Five9, Inc., AGC Networks Ltd., Talkdesk, Inc., Genesys Telecommunications Laboratories, Inc., and Aculab PLC.
Which region dominated the contact center transformation market in 2019?
The North America region dominated the contact center transformation market in 2019.