SMEs Rapidly Infusing AI in Contact Center Solutions

According to the new report “Contact Center Software Market by Component (Solutions and Services)”, over 61% of Asian Pacific American Community (APAC) SMEs are now sourcing new technologies to transform their customer engagement roadmap.

  1. Post-COVID-19 growth in omnichannel customer service

The Post-COVID-19 era is witnessing a growing need for omnichannel customer services solutions, and extensive growth opportunities are being identified owing to the rising adoption of advanced technologies such as cloud computing, artificial intelligence (AI), and natural language processing (NLP).

According to the report, 78.5% of respondents to surveys reported applying AI to engagement channels in a market sector that is estimated to grow from $24.1 billion in 2020 to $75.5 billion by 2026—a compound growth rate of 20.9% during the forecast period.

The report aims to “help market leaders and new entrants in this market with information on the closest approximations of the revenue numbers for the overall contact center software market and the subsegments… and helps stakeholders understand the competitive landscape and gain insights to better position their businesses and plan suitable go-to-market strategies.”

The findings of the report are based on in-depth competitive analysis of key players in the market and evaluates their company profiles, recent developments, COVID-19 innovations, and key market strategies, probing global cloud contact center leaders in the field such as NICE (Israel), Genesys (US), Alcatel-Lucolent Enterprise (France), SAP (Sweden), Oracle (US), and Vocalcom (France).

Speaking on the news that Vocalcom was named by Gartner in their “2020 Magic Quadrant for Contact Center as a Service”, Carlo Costanzia, President and CEO of Vocalcom, said: “Vocalcom was one of the first providers offering cloud contact center solutions, and this nomination recognizes the company’s expertise and continued development in the cloud.”

The Gartner research evaluates contact center as a service (CCaaS) providers offering software as a service (SaaS)-based applications that enable customer service organizations to manage multichannel customer interactions holistically from both a customer-experience and an employee-experience perspective.

Vocalcom has been recognized for the 8th consecutive year. With customers in more than 45 countries, the company’s cloud platform is deployed around the world to meet the increasing need for agile solutions, multi-site deployments, and work-from-home models.

  1. Pandemic accelerates market’s need for customer engagement cloud platform

Cloud-based contact center organizations are rapidly infusing AI in their contact management solutions, striving to drive up sales, improve customer experience and engagement, and attract new customers with automated workflows and speech analytics capabilities.

Major factors that are expected to drive the growth of the market include the rising adoption of advanced technologies, the need for handling contact center attrition and absenteeism, and the emerging role of social media in contact center operations.

Shivakumar Ganesan, CEO and Co-founder of Exotel, a Southeast Asian customer communication platform, says: “The pandemic has accelerated the market’s need for a customer engagement cloud platform that can handle the changing work environment. Enterprises want a single platform that will be able to handle their customer interactions and effectively so.”

Heron Nelson

Heron is a business blogger with a focus on personal finance and wealth management. With over 7 years of experience writing about financial topics, Heron has established herself as a trusted voice in the personal finance space. She has a deep understanding of financial concepts and strategies, and is able to explain them in a relatable and actionable way for her readers.