This study examines the contact center (CC) solutions market in Latin America and the Caribbean. In the past, Frost & Sullivan has done separate studies for the contact center on-premise solutions and hosted/cloud solutions markets. However, this year both studies are combined. This study is based on extensive primary and secondary research. Some traditional vendors from the on-premise contact center solutions arena, such as Genesys, InConcert and NICE, are increasing their overall share in the contact center market (cloud/premise) as they begin to position hosted/cloud solutions of their own. However, the sum of their sales is not reflected in this study. The total market share is difficult to determine as some vendors provide cloud solutions directly, but also sell through cloud partners who then get credit for those solutions in their own cloud market share numbers, rather than that revenue being attributed to the OEM supplier. This updated research shows that on-premise contact center solutions market remains relevant, while the hosted/cloud market finally gained traction in the region. Furthermore, revenue for the on-premise solutions market will keep showing a positive growth trend during the forecast period, with a decent 4.3% CAGR during 2018–2024. The increased adoption of hybrid solutions and the fact that companies in CALA push to get the most value out of existing infrastructure is keeping this market afloat. On the contrary, revenue for the hosted and cloud contact center market in the region will experience robust growth in all application segments. The total hosted/cloud market registered a revenue growth of 37.1% in 2018. According to recent findings from Frost & Sullivan, only 20% of the current CC users in the region have an omnichannel solution in place, which represents a clear upselling opportunity. Companies are still integrating newer contact channels such as mobile, chat, messaging, and social media, while facing enormous challenges to provide omnichannel customer experiences (CXs). Omnichannel CX is a key part of the shift toward a new digital landscape, providing a seamless journey no matter the customer’s starting or re-engagement point. Omnichannel CX capabilities will be the leading differentiator for vendors in the years to come. Providers are working on adding new product capabilities enabled by mobile, cloud, social, messaging, WebRTC, Big Data, and personalization, along with richer integrations to differentiate their solution portfolios. The inclusion of maturing technologies, such as artificial intelligence (AI), machine learning (ML), and natural language processing (NLP) will also drive growth as companies seek to add intelligence to existing applications, and new self-service channels.--BEGIN PROMO--

Research Highlights

This report examines the contact center solutions market in Latin America and the Caribbean. In the past, Frost & Sullivan has done separate reports for the contact center on-premise solutions and hosted/cloud solutions markets. However, this year the reports are combined.

Key Issues Addressed

• In what stage is the market, and at what rate will it grow in the next 6 years?
• What is the industry status within the Latin American and Caribbean countries? Which countries present the greatest opportunities?
• What are the key drivers and restraints for growth within the region?
• How will the structure of the market change over time? Which are the key competitors to watch?
• How different industry verticals are adopting cloud solutions?
• How will each of the applications markets evolve in the short and medium terms?

Author: Juan Manuel Gonzalez