Cloud-based or hosted contact centers come with their unique benefits. They are flexible, scalable and cost effective. No wonder several companies are embracing hosted and cloud solutions. This large scale adoption of cloud however would not affect the health of contact center industry in Latin America, Frost & Sullivan (News - Alert) predicted.
In a new research report, entitled, “Latin American Contact Center Systems Market 2014”, Frost & Sullivan analysts maintained that the contact center system vendors in the region will continue to enjoy significant market opportunities, thanks to the existence of legacy infrastructure in a number of large enterprises. The report covers inbound contact routing, interactive voice response (IVR) and voice portal, outbound dialer, quality monitoring, workforce management, and contact center analytic systems.
According to the research report, the Latin American Contact Center Systems Market is estimated to reach $380.6 million in 2018. In 2013, the market reportedly earned revenues of $260.4 million.
However, with increasing number of small and medium companies shifting their focus to the cloud, the Latin American market for contact center systems will become intensely competitive, the research said.
Cloud-based models provide a lower total cost of ownership than premises-based solutions. With these hosted solutions, cost and payment management also become easier. But a chunk of the large enterprises that are still skeptical about the security and reliability of cloud-based solutions, are likely stick to legacy infrastructure and the applications provided by on-premise models. This, according to Frost & Sullivan analyst Maiara Paula Munhoz, will present immense growth potential for vendors, especially in the IVR and contact center analytics segments. The markets in Mexico, Argentina and Chile in particular will pick up momentum, while the Brazilian market is likely to slow down.
With multi-channel contact center solutions gaining in importance, and with companies emphasizing on omni-channel strategies such as social media and mobility, more and more enterprises are likely to invest in contact center systems. As the telecommunications, healthcare, utilities and energy, retail and consumer goods, and insurance verticals continue to grow in size, vendors must widen their portfolio to cater to various demands, the analysts pointed out.