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Industry Research : Contact Center Systems See Steady Growth in Latin America
The Latin American contact systems market is expected to experience tempered growth as several companies transfer their investments to hosted and cloud solutions. However, the relevant quantity of existing legacy infrastructure in large enterprises will offer significant market opportunities for contact center system vendors in the region.
New analysis from Frost & Sullivan, Latin American Contact Center Systems Market 2014, finds that the market earned revenues of $260.4 million in 2013 and estimates this to reach $380.6 million in 2018. The study covers inbound contact routing, interactive voice response (IVR) and voice portal, outbound dialer, quality monitoring, workforce management, and contact center analytic systems.
The Latin American market for contact center systems will become intensely competitive as small and medium companies shift their focus to the cloud. Cloud-based models not only provide a lower total cost of ownership than premises-based solutions, but also simplify cost management and payment.
"Nevertheless, most of larger companies in the region continue to own and control legacy infrastructure and the applications provided by on-premise models, as they remain skeptical about the information security and reliability of cloud-based solutions," said Frost & Sullivan Information and Communication Technologies Industry Analyst Maiara Paula Munhoz. "This will present immense growth potential for vendors, especially in the IVR and contact center analytics segments."
The integration of new channels and the addition of omni-channel strategies such as social media and mobility will further drive enterprise investment in contact center systems. With verticals such as telecommunications, healthcare, utilities and energy, retail and consumer goods, and insurance likely to increase in size, vendors must widen their portfolio to cater to various demands.
"The Argentinean and Chilean markets in particular, will witness a spurt in demand, while Brazil will present slower growth," observed Munhoz. "Overall, the Latin American market will remain highly concentrated throughout the forecast period; the 66.2 percent of the total market accounted for by the top five participants in 2013 will see minimal change."
Latin American Contact Center Systems Market 2014 is part of the Contact Centers & CRM Growth Partnership Service program. Frost & Sullivan's related studies include: EMEA Contact Center Systems Market, North American Hosted Contact Center Market, Brazilian BPO and Contact Center Outsourcing Services Market 2014, and Argentine and Chilean Contact Center Outsourcing Services Markets. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
Posted by Veronica Silva Cusi, news correspondent
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Published: Monday, July 7, 2014