The contact center industry benefitted greatly from COVID-19 pandemic market dynamics, which shifted millions of agents to work-at-home
(WAH) models and accelerated cloud contact center-as-a-service (CCaaS) adoption. In 2021 and 2022, investments soared, and 2023 is the aftermath of that shift.
Greater macroeconomic factors loom large over this development. With global economic uncertainty and a potential recession, will companies continue to spend, and what will they spend on if they do?
Frost & Sullivans’ 2022 IT Decision Maker Survey, published in February 2022, unveiled that 66% of respondents were set to increase telecom and IT spending in 2023. However, the end of 2022 witnessed unprecedented tech layoffs across both sectors and a pullback on venture capital spending: this could be only the beginning. The overarching dynamic is that the trends for improving the employee experience (EX) to enhance the customer experience (CX) and using AI in digital transformation remain unabated and can help assuage budgetary fears.

Author: Nancy Jamison