Vendors must leverage Greenfield opportunities to solidify position as strategic solution providers for omnichannel CX solutions, finds Frost & Sullivan's Digital Transformation team
SANTA CLARA, California, April 13, 2017 /PRNewswire/ -- All segments of the global contact center systems market are experiencing a steady decline in demand, except analytics. On-premises system revenues, in particular, continue to drop as significant portions of the available customer spend are diverted to hosted/cloud solutions. Contact center systems providers (CCSPs) face market disruption at multiple levels including competition, innovation, pricing, packaging, feature/functionality, and business models.
Frost & Sullivan analysis titled, Growth Opportunities in the Global Contact Center Systems Market - Forecast to 2020, reveals market revenues will further decline in all product segments except analytics. Total market revenue is expected to decline at a CAGR of 1.9 percent, while Contact Center analytics, the only growing product category, is expected to grow at a CAGR of 4.6 percent through 2020.
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Leading contact center suppliers continue to expand their hosted/cloud offerings, both directly and through channel partners, in order to reduce customer churn to pure-play hosted/cloud solution providers. Market majors, such as Avaya, Genesys, Verint, NICE, Cisco, Unify and SAP, are also successfully bridging the gap between multichannel customer contact and omnichannel customer care by collaborating with customers to extend services out to the greater enterprise.
"Businesses with unamortized and still-functional premises-based solutions will see the economic benefits in upgrading functionality on existing systems," noted Jamison. "Upgrading/replacing agent desktop and workforce optimization (WFO) applications will improve performance and CX."
Growth Opportunities in the Global Contact Center Systems Market, Forecast to 2020, is part of Frost & Sullivan's Customer Contact Growth Partnership Service program.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Contact us: Start the discussion
Growth Opportunities in the Global Contact Center Systems Market, Forecast to 2020K0B7-76
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