Contact center operators rely heavily on metrics to improve the services that are being offered to customers as well as the day-to-day operations of the organization. While legacy analog systems did provide some data, processing the information and gaining valuable insight was a very costly and time-consuming procedure. With today's digital technology, operators in many cases can gain these insights much faster so they can make adjustments in near real-time, train and improve agent performance, provide higher levels of engagement with callers to deliver better customer experience (CX) and more.
The Frost & Sullivan (News - Alert)'s Digital Transformation team has revealed making this possible in the Asia-Pacific contact center application market will require customer-contact optimization and superior CX to continue growing omni-channel customer experiences.
The report, titled, “Asia-Pacific Contact Center Applications Market” says contact center solution vendors should push their services along with collaborations or alliances with global and regional telecommunication companies to gain market share.
This report is part of Frost & Sullivan's Customer Contact Growth Partnership Service program, which provides valuable insights for companies with highly specialized studies designed to help organizations with the design of new products, trend alerts, usage and preference as to how customers will perceive them. According to this study, there are three major targets the Asia-Pacific contact center industry should be focusing on to continue growing. They are customer behavior analytics, improvement in customer retention and optimizing operational efficiency.
The market size, which was $655.4 million in 2015, is expected to reach $790.9 million by 2022, a very low 2.7 percent compound annual growth rate. Frost & Sullivan Digital Transformation Industry Analyst Shuishan Lu said even though Avaya, Genesys (News - Alert), Verint Systems, NICE Systems, and Cisco strategically offer omni-channel customer experience (CX) to attract business across end-user segments, “A richer CX is a significant differentiator. For future revenues, vendors should look toward harnessing the increased integration of Web real-time communications, video, and artificial intelligence with contact center systems and infrastructure.”
Customer-contact optimization is one aspect of what is needed, there also needs to be more improvements in telecom services and IP infrastructure development, especially in Southeast Asian markets to attract more foreign investments in the contact center segment. Frost & Sullivan sees China, India, Indonesia, Malaysia, the Philippines, Thailand and Vietnam as great opportunities if they can scale up their contact center infrastructure for services in hospitality, retail, and outsourcing sectors.
In addition to deployment of new installations, upgrades of legacy systems in mature markets such as Australia, New Zealand, Japan, South Korea, Hong Kong, Taiwan and Singapore also represent opportunities as they undergo the transformation currently taking place in the industry to full-media customer engagement centers. This Foster & Sullivan says will also drive the adoption of workforce management and analytics applications.
Lu concludes by making some key recommendations, including the need for contact center vendors to find a way to tap greenfield opportunities while still catering to their large installed base of premise products. But he also adds, “Vendors that look toward investing in customer-contact optimization and superior customer experience through major channels of customer interaction, such as social media, self-service, and mobile applications, are expected to grow.”