The global predictive dialer software market size is estimated to register a significant CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the increasing preference for telemarketing in order to communicate with the customers along with rising need for ultimate customer satisfaction.
Contact center agents use predictive dialer software to manage large number of calls more efficiently. Furthermore, the software assists organizations in increasing the productivity of its agents while reducing staffing requirements. Thousands of businesses across the world are using predictive dialer software to communicate with customers in real time using automatic dialer technology.
Moreover, contact center agents are using the software to quickly alter call rates based on sales benchmarks and quotas. Agents also get critical customer information for the next call in the queue with the help of this software.
Additionally, the predictive dialer software forecasts the particular time a client will be available to take the next call by using the call metrics technique. The software assists contact center agents in calling the appropriate amount of leads at the appropriate time, increasing agent efficiency by reducing abandoned calls. Furthermore, the software supports the organization in spreading staff task equally.
On the other hand, predictive dialer software avoids manual dialing and connects call center personnel to a call once it has been answered. It ensures a smooth conversion between customer calls and produces a stable stream of calls with the least amount of downtime possible. Furthermore, the software is very much adaptable to suit the needs of enterprises of all sizes. Debt collection, sales & telemarketing, professional services in business process outsourcing (BPO), and many outbound campaigns are some of the major application areas for the software.
Market Trends, Drivers, Restraints, and Opportunities
- Rising need for more flexibility, scalability, and faster positioning of services in call centers is estimated to fuel the market growth in the coming years.
- Easier & low- cost set up along with better visibility & control into business operations are propelling for market growth in the coming years.
- Technological advancements in the area of customer relationship management along with rapid incorporation of machine learning into business processes are expected to boost the market expansion.
- Expanding security breach and privacy concerns by adoption of cloud-based software in industry verticals such as banking and financial institutes are anticipated to hamper the growth of the market.
- Growing developments in Artificial Intelligence (AI) and its application in business analytics are projected to offer a great opportunity for the market during the forecast period.
Scope of the Report
The report on the global predictive dialer software market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Predictive Dialer Software Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Enterprise Sizes (Small & Medium Enterprise and Large Enterprise), Components (Services [Managed Services, Integration & Deployment, Training & Consulting, and Support & Maintenance] and Software), Deployments (On- premise and Cloud), and End- users (Healthcare, BFSI, Government, IT & Telecom, and Others)
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
Ytel Inc.; Agile CRM; Five9, Inc.; ChaseData Corp.; inContact, Inc.; Star2Billing S.L.; PhoneBurner; Convoso; RingCentral, Inc.; and VanillaSoft.
Market Segment Insights
Large enterprise segment is estimate to grow at a rapid pace
Based on enterprise sizes, the global predictive dialer software market is bifurcated into small & medium enterprise and large enterprise. The large enterprise segment is estimated to grow at a rapid pace during the forecast period, owing to the increasing adoption of predictive dialer software for cold-calling & inside sales and seamless customer support activities.
Moreover, large enterprises are gaining profits from the software due to its capabilities to manage a large number of consumer calls in a short amount of time. In addition, the powerful algorithms included in the software, contact center agents in large organizations are widely employing it to cut waiting time and boost agent efficiency.
Software segment is projected to expand at a considerable CAGR
On the basis of components, the market is divided into services and software. The software segment is projected to expand at a considerable CAGR during the forecast period. Furthermore, the software can effectively avoid busy signals and false numbers, allowing operators to increase the rate at which customers call. In addition, it also aids agents in improving customer satisfaction by shortening average call duration. Thus, aforementioned factors are fueling the segment growth in the coming years.
However, the services segment is expected to increase considerably during the forecast period. The services segment is further segregated as managed services, integration & deployment, training & consulting, and support & maintenance. Furthermore, it provides a variety of value- added services to support enterprises to get optimal outcomes from contact center software solutions in terms of performance and consistency along with low operational expenses.
On- premise segment is estimated to gain large revenue share
Based on deployments, the global predictive dialer software market is bifurcated into on- premise and cloud. The on- premise segment is estimated to gain large revenue share during the forecast period, owing to the increasing preference of a hybrid cloud, which includes at least one public cloud and an on- premise system.
Moreover, organizations are utilizing the public cloud for new sites and projects while maintaining an on- premise system for effective customer data. The hybrid strategy allows a company to benefit from the cost-effectiveness and scalability of the cloud without exposing sensitive data and apps to third-party threats. Thus, all these factors are anticipated to boost the segment growth.
However, the cloud segment is expected to gain a substantial revenue share during the forecast period, owing to the increasing use of cloud-based software to remove the difficulties and costs of administering an on- premise system. Furthermore, businesses are working with reduced hardware and software resources when using cloud-based technologies.
IT & telecom segment is expected to register a significant market share
On the basis of end- users, the market is segmented into healthcare, banking, financial services and insurance (BFSI), government, it & telecom, and others. The IT & telecom segment is expected to register a significant market share during the forecast period.
A predictive dialer is an automated dialing system that has the ability to significantly boost the number of outbound calls for IT & telecom contact centers. Furthermore, it reduces the amount of time spent dealing with busy signals, answering fax machines, disconnected lines, unanswered calls, and other automated response systems.
However, the government segment is anticipated to constitute a considerable market share during the forecast period due to the growing need for effective public services. Furthermore, predictive dialer systems are commonly used by government entities to provide high quality services to the public. For local, state, and federal government agencies, several companies offer a variety of automated, easy to use, and communications solutions.
North America is anticipated to constitute a key market share
In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to constitute a key market share during the forecast period due to the existing leading market players and growing number of contact center operation in the region.
Moreover, these solutions are being aggressively adopted by contact centers in the area to update the operations, perform internal processes more effectively, and convey information more efficiently.
However, the market of Asia Pacific is expected to grow at a faster rate during the forecast period, owing to the increasing adoption of predictive dialer software by both large and small & medium businesses. Furthermore, growing IT expenditures by businesses, rising advanced technology, and digitizing corporate operations are fueling the market in the region.
Segments Covered in the Report
The global predictive dialer software market has been segmented on the basis of
- Small & Medium Enterprise
- Large Enterprise
- Managed Services
- Integration & Deployment
- Training & Consulting
- Support & Maintenance
- IT & Telecom
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
- Ytel Inc.
- Agile CRM
- Five9, Inc.
- ChaseData Corp.
- inContact, Inc.
- Star2Billing S.L.
- RingCentral, Inc.
Some of the key players competing in the global predictive dialer software market are Ytel Inc.; Agile CRM; Five9, Inc.; ChaseData Corp.; inContact, Inc.; Star2Billing S.L.; PhoneBurner; Convoso; RingCentral, Inc.; and VanillaSoft.
In order to strengthen the position in the market, key market players are pursuing a variety of marketing strategies, such as collaborations, strategic joint ventures, R&D activities, product innovation, mergers & acquisitions, and geographic expansion.
For example, Five9 has partnered with Conn3ct, a completely vendor-agnostic communications partner, in December 2020 in order to increase Five9's global reach. Under the terms of the agreement, the firms will combine Conn3ct's suite of communication channels with Five9's omni- channel contact center experience to provide high customer engagement and a configurable contact center to meet the client's specific needs.
For instance, Inference Solutions, a market-leading developer of intelligent virtual agents, was acquired by Five9 in November 2020. Inference was introduced to the Five9 portfolio, which intends to strengthen its position in Artificial Intelligence while providing consumers with a market- leading interactive voice assistance at a time when they want efficient real-time help.
On the other hand, Convoso has announced Comply, a standalone product for contact centers that require manual click to dial capability, in September 2020. Comply encourages adherence to the Telephone Consumer Protection Act (TCPA), which prohibits telemarketing without prior written approval. Convoso's robust features enhance productivity and profitability with this product.