Contact center software market to hit $72Bn by 2027

PORTLAND, UNITED STATES — The contact center software market is projected to reach US$72.04 billion by 2027, with a compound annual growth rate (CAGR) of 18.9% from 2020 to 2027, according to a recent report by Allied Market Research.

Driving factors include a focus on improving customer experiences, new communication techniques, and technological advancements in AI, cloud computing, and social media platforms.

The software segment, boosted by the adoption of Interactive Voice Response (IVR) solutions, is anticipated to dominate the market by 2027. The services sector is on track for a 21.1% CAGR, attributed to its broad acceptance among users.

The push for cloud-based solutions results in a projected CAGR of 20.2% during the forecast duration.

Geographically, the Asia-Pacific region is poised for the fastest growth, with a CAGR of 23.3% until 2027, propelled by a vast consumer demographic and the prevalence of SMEs.

Meanwhile, a similar study by ReportLinker estimates the market to rise from US$41.9 billion in 2023 to an even higher US$109.7 billion by 2028, indicating a CAGR of 21.2%.