LONDON--(BUSINESS WIRE)--According to Technavio’s latest report, the global contact center market is expected to reach USD 9.7 billion by 2019, growing at a CAGR of over 9% during the forecast period.
“The global contact center market has been registering a positive growth rate for the past five years, and this growth is expected to gain momentum in the coming years. Innovation and the proliferation of digital technologies has changed customers' interaction with companies, and customers are now using different channels such as the web and self-service options. Many organizations prefer to include a contact center as a strategic part of their organization. Moreover, some organizations prefer to outsource their call center functions to a third party to improve the customer experience,” says Amit Sharma, lead analyst for ITO and BPO research at Technavio.
In this report, Technavio covers the present scenario and growth prospects of the Global Contact Center Market for 2015-2019. The report also presents the vendor landscape and a corresponding detailed analysis of the top four vendors operating in the market. The market is segmented into the following three regions:
- Americas
- EMEA
- APAC
Americas: largest contact center market
The contact center market in the Americas is expected to exceed USD 5 billion by 2019, growing at a CAGR of over 7%.
The US, Canada, and Latin America are the key regions in this market. The US held a major market share of about 50% of the market in the Americas in 2014. Latin American countries such as Brazil, Costa Rica, Guatemala, and Argentina are key adopters of contact centers.
The close proximity to clients and proficiency in the English and Spanish languages are some of the advantages of the contact centers in Latin America. However, the strong currency in the region, language barriers in Brazil, and the unstable political environment in Mexico are some of the factors that impede the growth of the contact center market in this region.
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EMEA: Europe is the major contributor in this region
The contact center market in EMEA is expected to exceed USD 3 billion by 2019, growing at a CAGR of over 11%.
Europe is the major contributor in this region. However, countries in Eastern Europe and Africa are seen as potential markets for contact center functions. EMEA's close proximity to business service outsourcing clients in the US and Europe offers the benefits of time saving, high-quality service, and customer satisfaction, making the region a favorable location for contact center functions.
“Some countries in EMEA such as South Africa, Tunisia, Ghana, Kenya, Poland, Hungary, the Czech Republic, and Slovakia are expected to be key contributing countries over the next five years,” says Amit.
APAC: fastest growing market for contact centers during the forecast period
The contact center market in APAC is expected to exceed USD 1 billion by 2019, growing at a CAGR of almost 13%.
In 2014, APAC accounted for 11% of the global contact center market. Countries such as China, India, Australia, the Philippines, Vietnam, and Malaysia are expected to be the leading contributors to the market in this region and are expected to witness an increased growth rate during the forecast period.
Key Vendors:
- Alcatel-Lucent
- Avaya
- Cisco Systems
- Huawei Technologies
Some of the other prominent vendors mentioned in the report are: 3CLogic, 8x8, Aastra, Altitude Software, Aspect Software, Connect First, Convergys, CRMXchange, Enghouse Interactive, Five9, Fujitsu, Genesys, HP, and IBM.
Browse Related Reports:
- Contact Center Outsourcing Market in the APAC Region 2015-2019
- Unified Communications and Collaboration (UC&C) Market in the EMEA Region 2015-2019
- Global OSS BSS Software Market 2015-2019
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About Technavio
Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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