The Latin American contact center equipment and solutions market is on course to reach $506 million by 2019, but several major companies in the sector are still reeling from the effects of the 2008 global slowdown, market analysts firm Frost and Sullivan has found.
Frost and Sullivan estimates that the contact center systems market earned $310 million in revenue in 2012 and is growing at a CAG rate of 7%. Solutions such as analytics and workforce management software are in high demand as contact centers in the region have continued their fight to retain their clients while providing as good a service as they can.
“The Latin American contact center market has progressed over the last few years in terms of quality, infrastructure and performance, and systems that help improve these features and provide first-class services will continue expanding in the near future,” says the analyst firm in a report released this week.
The contact center systems market includes IP contact center suites, routing systems, interactive voice response and voice portals, outbound solutions, and agent performance optimization systems which include quality monitoring, WFM and contact center analytics.
The analyst firm noted that it has found an increasing number of BPO firms offering customer care service through social media.
When it comes contact center equipment sales, Brazil is the leader with more than 45% of the market, but the research firm says the Mexican market has also recently been showing signs of robust growth on the back of labor reforms and steady economic growth.
“The Mexican contact center systems market will experience maximum growth in the region,” stated analyst Juan Manuel González.
The past year saw certain contact center system vendors struggle to boost sales in Latin America, with several larger vendors choosing to scale back production. But things have now started to look up, Frost and Sullivan assures.
“Going forward, customized solutions will be crucial for success. As the market picks up, all vendors will need a capable structure to provide tailored solutions for diverse clients across industries,” the analyst firm noted.