Cloud-based contact centers to fuel market growth by 2027 — Technavio
NEW YORK, UNITED STATES — The rising adoption of cloud-based contact centers would power the expansion of the global contact center market by a significant US$161.73 billion from 2022 to 2027.
According to the latest report by market research firm Technavio, this growth reflects a compound annual growth rate (CAGR) of 9.33% between the forecast period.
The report breaks down the market by type, deployment, and geography. The voice-based segment is forecasted to contribute significantly to the market growth due to its continued dominance.
Vendors are also prioritizing the development of advanced solutions to manage the high volumes of voice calls, thus driving the segment growth.
Geographically, North America would account for 34% of the global contact center software market growth during the forecast period due to its robust adoption of contact center analytics.
Major vendors like 8×8, Amazon.com, Avaya Holdings, and Cisco Systems will continue to boost their services through technological advancements and digitalization, further fueling the industry’s growth in the region.
Technavio added that software giants BMC Software, Broadcom, Fujitsu, Hewlett Packard Enterprise (HP), and International Business Machines (IBM) would use advanced technologies — like artificial intelligence and machine learning — to continue dominating the global contact center market.
