[February 13, 2018]

Top Factors Driving the Global Contact Center Market | Technavio

Technavio market research analysts forecast the global contact center market to grow at a CAGR of close to 9% during the period 2018-2022, according to their latest report.

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Technavio has published a new market research report on the global contact center market from 2018-2022. (Graphic: Business Wire)

This market research report segments the global contact center market into the following type of interactions (voice-based, text-based, and social media-based) and key regions (the Americas, APAC, and EMEA).

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In this report, Technavio analysts highlight the integration of IVR into contact centers as a key factor contributing to the growth of the global contact center market:

Integration of IVR into contact centers

IVR is a technology which supports computers to interact with customers with the help of voice commands. It then gathers information and routes calls to the appropriate recipient. When enterprises experience high call volumes, and the agents are busy to field calls for some reasons, IVR proves to be very useful in such situations. IVR is a combination of a touch-tone keypad and voice telephone inputs to provide a suitable response in the form of fax, e-mail, voice, callback, or any other media. Its features include a pre-recorded voice response for appropriate situations, access to the relevant data, keypad signal logic, and the capability to record voice inputs for later handling. It helps the customers resolve their issues and obtain the information they are searching for without contacting the agent.

According to a senior analyst at Technavio for IT spending, "With the use of IVR, automated customer service can be made simple. If a customer needs to speak to an agent, it will route the caller to the most suitable agent that is most qualified to meet his or her needs. Such integration of IVR into contact centers will help in enhancing customer satisfaction, which will drive the growth of the global contact center market during the forecast period."

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Global contact center market segmentation

Of the three major type of interactions, the voice-based segment held the largest market share in 2017, accounting for nearly 63% of the market. However, the market share for this application is expected to decrease nearly 7% by 2022. The fastest growing type of interaction is text-based, which will see an increase in market share of nearly 5% by 2022.

APAC was the leading region for the global contact center market in 2017, accounting for a market share of 52%. APAC is expected to register a positive growth of 5% by 2022. However, the Americas and EMEA will witness a decline in growth by 2022.

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