Blockchain Press Releases
Contact Center Software Market worth $109.7 billion by 2028 – Exclusive Report by MarketsandMarkets™
CHICAGO, July 31, 2023 /PRNewswire/ — Omnichannel experiences, cloud-based solutions, and AI integration will be the driving forces behind the future of the contact centre software market. While security and privacy precautions will continue to be of the utmost importance, data analytics, automation, and customer-centric technology will improve customer experiences.
The Contact Center Software Market is expected to grow from USD 41.9 billion in 2023 to USD 109.7 billion by 2028 at a CAGR of 21.2% during the forecast period, according to a new report by MarketsandMarkets™. The rising demand for analyzing audio and video conversations and the need to deliver an enhanced customer experience has driven market growth.
Browse in-depth TOC on “Contact Center Software Market“
278 – Tables
56 – Figures
300 – Pages
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Scope of the Report
|
Report Metrics |
Details |
|
Market size available for years |
2017–2028 |
|
Base year considered |
2022 |
|
Forecast period |
2023–2028 |
|
Forecast units |
Million/Billion (USD) |
|
Segments Covered |
Component (Solutions, Services), Organization Size, Deployment Mode, and Vertical |
|
Geographies Covered |
North America, Latin America, Europe, Middle East & Africa, and Asia Pacific |
|
Companies Covered |
Some of the key vendors offering contact center software across the globe include NICE (Israel), Genesys (US), AWS (US), IBM (US), Five9 (US), Twilio (US), Cisco (US), Mitel (Canada), BT (UK), Verizon (US), Vonage (US), Avaya (US), and more. |
Solutions segment to capture a significant market share during the forecast period
The Contact Center Software Market, by component, includes solutions and services. The solutions segment leads the Contact Center Software Market in terms of share. The contact center solutions transform industries by significantly streamlining contact center processes. The solutions also enable integrations with other supplementary business applications, such as CRM, out-of-the-box applications, and open APIs. Contact center services considered in the study are consulting services, implementation & integration services, and training, support, & maintenance.
Workforce Engagement Management solution segment to capture the second-largest market share
Workforce engagement management is an approach for increasing customer service agent engagement. These empower agents to deliver excellent customer experiences with instant access to innovative tools and insights. Engaged agents are committed to their employer, which includes helping the organization meet business objectives. Contact centers require continuous monitoring and control of agents’ ongoing work and interactions to ensure streamlined interactions and performance.
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North America segment to capture a significant market share during the forecast period
The Contact Center Software Market includes regional segmentation into Europe, Asia Pacific, North America, the Middle East and Africa, and Latin America. As per region, North America accounts for the largest market share in the global Contact Center Software Market in 2023, and this trend will persist during the forecast period. North America is the region with the most established contact center software adoption due to several factors, including the existence of large enterprises with sophisticated IT infrastructure and the availability of technical expertise. The US and Canada are North America’s two most significant Contact Center Software Market contributors. It is a region with strict regulations for several economic sectors and advanced technology. North America is known for its technological advancements and early adoption of innovative solutions. The large enterprises in this region are rapidly adopting contact center solutions and services to improve employee experience and tackle any business continuity challenges amid COVID-19. In North America, large enterprises and SMEs focus on developing innovative contact center software integrated with technological advancements, such as video analytics, AI, and ML; this would boost growth in the future.
Top Key Companies in Contact Center Software Market:
The key technology vendors in the market include NICE (Israel), IBM (US), Genesys (US), AWS (US), Five9 (US), Twilio (US), Mitel (Canada), Cisco (US), BT (UK), Verizon (US), Avaya (US), Vonage (US), 8×8 (US), Talkdesk (US), Alcatel Lucent Enterprise (France), Sinch (Sweden), Oracle (US), RingCentral (US), Lifesize (US), Content Guru (UK), Alvaria (US), Enghouse Interactive (US), 3CLogic (US), Ameyo (India), West (US), NEC (Japan), ZTE (China), Vocalcom (France), Evolve IP (US), UJET (US), Amtelco (US), AVOXI (US), VCC Live (Hungary), Glia (US), Bright Pattern (US), ComputerTalk (Canada), and C-Zentrix (India).
Recent Developments:
- In June 2023, Genesys unveiled its new ai-powered employee experience solution, Genesys Cloud Ex. This solution helps businesses improve the employee experience in their contact centers by giving them the tools they need to be more productive, engaged, and satisfied.
- In June 2023, NICE announced that its CXone platform is now available as an EU sovereign cloud platform. CXone is an industry-leading cloud platform for customer experience (CX) that offers unmatched scalability, reliability, and a complete set of CX applications. With this announcement, organizations from any vertical across the EU can now choose CXone as their platform while meeting regulatory and compliance requirements.
- In June 2023, Amazon Connect Chat came with a new feature that offers more ways to customize the chat widget that comes with the service. It enables the user to add a logo and change the text in fields like “system message,” “bot,” “text input placeholder,” and “end chat.”
- In May 2023, BT and Five9 announced they are expanding their partnership to offer organizations global contact center services and solutions. As part of the expanded partnership, BT will now provide the Five9 Intelligent CX Platform as a managed service to new and existing customers. BT will install, configure, and maintain the Five9 platform, freeing customers to focus on their core business activities.
- In March 2023, Genesys and Acqueon partnered to help B2C organizations optimize proactive customer outreach. The partnership will combine Genesys’ ai-powered experience orchestration capabilities with Acqueon’s omnichannel workflows, predictive analytics, and ai to help organizations deliver personalized, compliant, and effective outbound customer interactions. Through the partnership, joint contact center customers can seamlessly leverage the Genesys Cloud CX platform’s artificial intelligence (AI)-based experience orchestration capabilities with the Acqueon omnichannel workflows, predictive analytics, AI, and built-in compliance suite.
- In March 2023, Five9 announced the general availability of Five9 Agent Assist 2.0 with AI Summary, powered by OpenAI. This new solution uses generative AI technology to summarize customer call transcripts in seconds, which can help businesses to reduce manual, after-call work and improve the efficiency of their contact centers.
- In January 2023, Mitel entered exclusive negotiations with Atos to acquire Unify. Unify provides Communication and Collaboration Services businesses (CCS) and Unified Communications and Collaboration (UCC). Mitel and Unify would serve a customer base of over 75 million users in nearly 100 countries and a channel community of more than 5,500 global partners. The proposed transaction would also notably expand Mitel’s reach and increase global revenues and profitability.
- In January 2023, Verizon Business introduced digital engagement capabilities to enhance the end-to-end digital customer journey for the Verizon Virtual Contact Center (VCC). The latest VCC digital solutions would help improve customer experiences.
- In July 2022, Amazon Connect launched Contact Lens integration with Contact Control Panel and Salesforce CTI Adapter.
- In June 2022, Avaya announced that it is reimagining digital campus learning with its Avaya OneCloud Experience Platform. The platform offers significant advantages for higher education institutions facing increased competition and slowing admission growth.
- In May 2022, Avaya and Microsoft expanded their strategic partnership by integrating Avaya’s OneCloud portfolio with Microsoft Azure to provide businesses with more options to enhance productivity, scalability, and customer engagement.
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Contact Center Software Market Advantages:
- The effective management of client contacts is made possible by contact centre software, which results in speedier response times, individualised service, and higher levels of customer satisfaction.
- Businesses can connect with clients on their preferred platforms thanks to the support provided by contemporary contact centre solutions for channels like voice, email, chat, social media, and SMS.
- By streamlining workflows and ensuring that client enquiries are routed to the most qualified agents, automation and intelligent routing capabilities boost productivity and decrease wait times.
- Real-time analytics and reporting offered by contact centre software give organisations the ability to track performance indicators, spot patterns, and make informed decisions.
- Contact centre software enables companies to cut operational expenditures like infrastructure upkeep and agent training by streamlining operations and minimising manual tasks.
- Cloud-based contact centre solutions are flexible and scalable, enabling organisations to simply scale up or down their operations in response to changing business needs or seasonal demand.
- CRM systems and other business applications can be integrated with contact centre software to give agents a comprehensive picture of client information and enable more informed interactions.
- Contact centre software delivers personalised customer experiences and assists organisations in anticipating customer demands by capturing client data and interaction history.
- Contact centre software offers round-the-clock customer care, boosting customer happiness and loyalty, with features like chatbots and self-service choices.
- Businesses acquire a competitive edge in their respective industries by offering greater customer service and developing stronger client relationships.
Report Objectives
- To define, describe, and forecast the Contact Center Software Market by component (solution and service), organization size, deployment model, vertical, and region
- To provide detailed information about the factors (drivers, opportunities, restraints, and challenges) that impact the growth of the Contact Center Software Market
- To analyze the opportunities in the market for stakeholders by identifying the high-growth segments of the Contact Center Software Market
- To forecast the size of the market segments for five regions, including North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
- To analyze subsegments of the market concerning individual growth trends, prospects, and contributions to the overall market.
- To profile the key players of the Contact Center Software Market and comprehensively analyze their market size and core competencies.
- To track and analyze the competitive developments, such as new product launches; product enhancements; partnerships & collaborations; and acquisitions; in the Contact Center Software Market globally.
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About MarketsandMarkets™
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The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
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Blockchain Press Releases
Bybit Web3 Wallet Integrates Tonstakers: The First of Its TON Staking Offerings to Expand DeFi Opportunities
DUBAI, UAE, Dec. 27, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange,is excited to announce the integration of Tonstakers, the leading liquid staking protocol on the TON blockchain, into its Web3 Wallet. This marks the first of Bybit Web3’s TON staking offerings, reinforcing its commitment to expanding decentralized finance (DeFi) opportunities for its users.
With this integration, Bybit Web3 Wallet users can now seamlessly stake Toncoin ($TON) and receive $tsTON (Tonstakers LST) in return. The value of $tsTON increases relative to $TON every 26 hours, ensuring competitive rewards while contributing to the growth and success of the TON ecosystem. The integration also opens the door for 130 million users in the TON ecosystem to access TON staking directly within the Bybit Web3 Wallet.
Bybit is dedicated to simplifying DeFi adoption by providing intuitive and user-friendly staking experiences. This milestone partnership with Tonstakers enables users to unlock annual returns estimated between 3% and 5% APY, with rewards automatically compounded, further cementing Bybit’s role as a leader in DeFi accessibility.
Why Tonstakers Matters: The First of Its Kind
Tonstakers is the inaugural partner in Bybit Web3’s TON staking initiative, setting a new standard for staking services. With a total value locked (TVL) exceeding $260 million and a significant market share in the liquid-staked TON sector, Tonstakers offers Bybit Web3 Wallet users unparalleled access to TON staking benefits:
- Effortless Staking: Securely stake $TON with ease, thanks to the user-friendly interface within the Bybit Web3 Wallet.
- Earn $tsTON Rewards: Receive tokenized staked Toncoin ($tsTON), which can be leveraged within DeFi applications across the TON ecosystem.
- Explore DeFi Liquidity: Engage with Tonstakers Earn to provide liquidity using $tsTON, unlocking diverse earning opportunities.
“Bybit Web3 is proud to deepen our integration with the TON blockchain, a crucial step in our mission to foster a thriving and interconnected Web3 ecosystem,” said Emily Bao, Head of Bybit Web3. “This integration empowers our users with seamless and trusted access to TON liquid staking pools and unlocks valuable earning opportunities. As a strong believer in DeFi adoption, Bybit Web3 is committed to bridging the gap between Web2 and Web3, creating simple, easy, and accessible solutions that bring the benefits of decentralized finance to a wider audience. We believe this integration will significantly contribute to the growth and success of the TON ecosystem.”
Start Staking Today To begin staking your $TON and earning with $tsTON, visit https://www.bybit.com/en/web3/staking and discover the power of Bybit Web3 Wallet’s integration with Tonstakers. Bybit Web3 Wallet currently supports a wide range of staking services beyond TON tokens, including ETH, USDT, USDC, bbSOL, SUI, and more.
#Bybit / #TheCryptoArk / #BybitWeb3
About Bybit Web3
Bybit Web3 is redefining openness in the decentralized world, creating a simpler, open, and equal ecosystem for everyone. We are committed to welcoming builders, creators, and partners in the blockchain space, extending an invitation to both crypto enthusiasts and the curious, with a community of over 130 million wallet addresses across over 30 major ecosystem partners, and counting.
Bybit Web3 provides a comprehensive suite of Web3 products designed to make accessing, swapping, collecting and growing Web3 assets as open and simple as possible. Our wallets, marketplaces and platforms are all backed by the security and expertise that define Bybit as the world’s second-largest cryptocurrency exchange by trading volume, trusted by over 60 million users globally.
Join the revolution now and open the door to your Web3 future with Bybit.
For more details about Bybit Web3, please visit Bybit Web3.
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected]
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Blockchain Press Releases
Nodepay Raises $7M Total Funding To Power AI Growth with Real-Time Data Infrastructure
SINGAPORE, Dec. 27, 2024 /PRNewswire/ — Nodepay, a decentralized AI platform transforming unused internet bandwidth into real-time data pipelines for AI training, today announced it has raised a second round of funding, bringing its total to $7 million.
The latest funding round welcomed new strategic investors IDG Capital ($23 Billion AUM), Mythos, Elevate Ventures, IBC, Optic Capital, Funders.VC, Matthew Tan (Etherscan founder) and Yusho Liu (CoinHako Co-founder & CEO) as notable angels. They join an impressive roster of previous backers that includes Animoca Brands, Mirana, OKX Ventures, JUMP Crypto, Tokenbay Capital and more.
Nodepay’s network taps into a global community of users running privacy-protected nodes. By sharing their spare internet bandwidth, these participants earn rewards for creating a real-time data source that improves AI inference with accurate, timely information—an approach known as Retrieval Augmented Generation (RAG).
Darren Nguyen, co-founder of Nodepay commented: “Our mission is to develop solutions that create tangible value for both AI developers and its end users. We give contributors a share in the AI ecosystem they help fundamentally build.”
Nodepay’s infrastructure platform integrates real-time data retrieval, a Web3-focused decentralized answer engine, reinforcement learning for more accurate model output, and gamified human verification. Together, these components combine to create a fair, collaborative, and innovative AI ecosystem.
Eric Le, investment director of IDG Capital, said, “The team at Nodepay is democratizing the AI economy by providing a platform that allows users to share directly in the value they create. We’re proud to support their vision of making AI more accessible and beneficial to all.”
With this funding, Nodepay will continue to commercialize its infrastructure to benefit both its community and partner AI labs. As it prepares to launch on Solana, Nodepay stands ready to lead the next era of decentralized AI development and training.
Already serving over 1.5 million active users worldwide, Nodepay continues to expand its reach, solidifying its role as a leader in the integration of AI and blockchain technology. Users can expect further updates and new announcements through their social channels and official website.
About Nodepay
Nodepay is a decentralized AI platform dedicated to democratizing AI training through real-time data retrieval. By turning idle internet bandwidth into a valuable resource, Nodepay fuels the next generation of AI models and stands at the forefront of AI decentralization.
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Blockchain Press Releases
Markets Show Resilience Ahead of End-of-Year Options Expirations: Bybit x Block Scholes Crypto Derivatives Report
DUBAI, UAE, Dec. 26, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, released the latest Crypto Derivatives Analytics Report in collaboration with Block Scholes, highlighting the muted market volatility despite major options expirations on Friday. BTC and ETH’s realized volatility has increased, but short-term options haven’t adjusted to this change. This indicates that while spot prices are fluctuating, the options market is not fully reacting to these shifts, although BTC and ETH volumes have displayed slightly different patterns.
With more than $525 million in BTC and ETH options contracts expiring on Dec 27, 2024’s end-of-year options expiration looks set to be one of the biggest yet, yet expectations for volatility have remained subdued. The report highlights an unusual inversion in ETH’s volatility structure, but BTC has not mirrored the reaction. Additionally, a change in funding rates—sometimes turning negative as spot prices drop—signals a new market phase. Notably, BTC’s volatility structure has been less responsive to changes in spot prices, whereas ETH’s short-term options are exhibiting more noticeable fluctuations.
Key Findings:
BTC Options Expirations:
In the past month, BTC’s realized volatility has been higher than implied volatility on three occasions, each time reaching a relatively calm equilibrium. Open interest in BTC options remains high, contributing to potential increased volatility as we near the end of the year. Around $360 million worth of BTC options (both puts and calls) are set to expire soon, which can affect price movement.
ETH Options: Calls Dominate
Despite a mid-week inversion, ETH’s volatility term structure has flattened, maintaining levels similar to those seen over the past month. In the final week of 2024, calls overwhelmed puts in open interest in ETH options, although market movements and trading activities are more on the put side.
Access the Full Report:
Gain deeper insights and explore the potential impacts on your crypto trading strategies by downloading the full report here: Bybit X Block Scholes Crypto Derivatives Analytics Report (Dec 24, 2024)
#Bybit / #BybitResearch
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
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