Contact center market to hit $161Bn by 2027
NEW YORK, UNITED STATES — The contact center industry is on track for substantial growth, with expectations to hit a market size of $161.73 billion by 2027.
Market research firm Technavio said this growth represents a Compound Annual Growth Rate (CAGR) of 9.33% from 2022 to 2027.
Cloud-based contact center solutions are the primary drivers of this growth, offering scalable, flexible, and cost-effective alternatives to traditional on-premises systems.
The market is also benefiting from advancements in customer relationship management (CRM) systems and interactive voice response (IVR) technology, which are crucial for enhancing customer interactions and revenue generation.
Despite these positives, the industry faces challenges, particularly in increasing call volumes and maintaining a swift average speed of answer (ASA).
Regionally, North America is poised to make a significant impact, contributing 34% to the global market growth over the forecast period.
Technavio attributed this to the region’s rapid adoption of advanced contact center analytics, encompassing multichannel customer interaction, speech analytics, and performance analytics solutions.
