Latin American contact center systems revenue market size will be $380.6 million in 2018 against $260.4 million in 2013, said Frost & Sullivan.
Frost & Sullivan said the Latin American contact systems market is expected to experience tempered growth as several companies transfer their investments to hosted and cloud solutions.
The relevant quantity of existing legacy infrastructure in large enterprises will offer significant market opportunities for contact center system vendors in the region.
The Frost & Sullivan study covers inbound contact routing, interactive voice response (IVR) and voice portal, outbound dialer, quality monitoring, workforce management, and contact center analytic systems.
The report said 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.
“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.
Frost & Sullivan said 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.