The South-East Asian Contact Center Applications Market offers a plethora of opportunities for both the new-entrants and the existing players.
The Cloud-based Contact Center Applications segment is emerging as the new pocket of investment and will provide lucrative opportunities for the market players.
The region is witnessing growth due to the emergence of the region as a Contact Center Hub in the global market.
- Definition / Scope
- Market Overview
- Market Risks
- Top Market Opportunities
- Market Trends
- Industry Challenges
- Technology Trends
- Pricing Trends
- Regulatory Trends
- Other Key Market Trends
- Market Size and Forecast
- Market Outlook
- Technology Roadmap
- Competitive Landscape
- Competitive Factors
- Key Market Players
- Strategic Conclusion
Definition / Scope
Apps, social media, and Internet technology developments have put the global marketplace just a click away from consumers, leading to increased customer churns. Moreover, the launch of mobile app stores in 2008 has further intensified competition with new age digital startups making their mark through disruptive innovation. The advancement of Contact Center technology has changed the manner in which companies deal with potential clients.
The rapid technological innovation and the rivalry among companies across the globe have led organizations to focus on the overall value of customer life by offering enhanced customer service. Intelligent communication that provides an ubiquitous working environment for customer-centered businesses has become the essential necessity.
Contact Centers, being one of the customers' key touchpoints, are increasingly changing from conventional call centers to omnichannel Contact Centers. The Contact Center applications empower organizations to effectively communicate and collaborate through multiple channels like voice, video, web, and social media.
Contact Center Applications helps companies simplify their operations, both inbound and outbound. This, in turn, helps to boost the overall productivity of organizations. Additionally, it helps organizations with various capacities from a centralized platform, including call monitoring, analysis, and reporting.
The Contact Center applications make it easier for companies to efficiently answer inbound requests and handle outbound calls for serving or acquiring customers. New Contact Center solutions are equipped with the latest tools, such as intelligent virtual assistants, analytics, intelligent call routing, Automatic Call Distribution (ACD), dialers, Interactive Voice Response (IVR), and workforce optimization.
These tools allow companies to improve the value proposition for customers. The Contact Center provides customers the opportunity to contact organizations not only via telephone calls but also via various other channels such as social media, web, chat, mobile apps, instant messaging and video conferencing.
The Contact Center applications are gaining traction in various verticals across the South-East Asia region. The Banking, Financial Services, and Insurance (BFSI) vertical is expected to dominate the market with the largest market share during the forecast period. The consumer goods and retail vertical is projected to grow at the highest. Compound Annual Growth Rate (CAGR).
Furthermore, owing to the surge in cloud-based deployments among Small and Medium-sized Enterprises (SMEs) and large enterprises, the market for cloud-based Contact Center applications is expected to gain traction in the next 5 years.