The Contact Center Software Market size is estimated at USD 61.07 billion in 2024, and is expected to reach USD 145.20 billion by 2029, growing at a CAGR of 18.91% during the forecast period (2024-2029).
The market is primarily driven by the increasing need to enhance customer experience at relatively lower costs. The growth of contact center software has been significant in recent years, driven by the need for businesses to effectively manage customer interactions across multiple channels.
The Contact Center Software market is highly competitive and consists of several major players, including Cisco Systems Inc, Unify Inc, Five9 Inc, and Oracle Corporation. Many companies are increasing their market presence by investing in introducing new or improved solutions or by entering into strategic mergers, acquisitions, partnerships, collaborations, etc.
In August 2022, the largest provider of IT infrastructure services in the world, Kyndryl, and Five9 announced a global partnership and expanded working relationship to develop cloud-based contact center solutions that offer employees and customers personalized experiences while assisting businesses in navigating the rapidly evolving demands of the digital business landscape. With the help of Five9's leading cloud contact center technology and Kyndryl's Digital Workplace Services, which combine to form a powerful force, the partnership will make Kyndryl's Intelligent Cloud Contact Centre (ICCC) platform available to new and existing clients.
In June 2022, Amazon Connect added new capabilities, i.e., a new case management feature to improve contact center productivity and customer experiences by making it easy for contact center agents to track, collaborate, and resolve customer cases quickly. Case management enables contact center agents to reduce resolution time and improve the customer experience.
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