How big is the workforce optimization market? Big, and getting bigger, according to evidence both anecdotal and scientific. In particular, the quality monitoring market segment has outstanding growth potential.
DMG Consulting recently published its fourth annual QM/Liability Recording Product and Market Report, an authoritative guide to the contact center QM/Liability Recording and Workforce Optimization (WFO) market. DMG forecasts more than $2.3 billion in sales of QM/liability recording and WFO products will be sold by the end of this year, which represents a 10 percent increase over 2006.
The continued growth is being driven by migration to IP
recording, valuable new applications and significant refinements to established offerings, and a new generation of mid-tier vendors entering the market. Many vendors are focusing on the small and medium business market which is still largely untouched and likely to be a growth market itself in 2008 and beyond.
“In a basically mature market with significant consolidation in the past year, the rate of growth was impressive,” said Donna Fluss, president and founder of DMG. “Credit goes to the vendors –both leaders and contenders-who produced a significant amount of innovation in response to customer demand. 2008 promises to be another healthy year of growth in this market.”
IP recording technologies are enabling companies that were not large enough, or not centralized enough, to take advantage of traditional recording solutions in the past.
The QM/Liability Recording Product and Market Report is one of a series of market reports published by DMG annually. It covers more than 45 companies in the market and profiles 14 leading firms and contenders in depth.
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