Facts about the contact center software market that VCs often don't know
The contact center software market is the hottest enterprise software market to invest in.
1. Large market size –
The contact center interaction software market is over 3x the size of the global CRM market (everything from Salesforce to smaller CRMs like Pipedrive)
It’s a $120 billion market just for the software part, which excludes separate components like:
– $900 billion in agent salaries
– $1.3 trillion telecoms market
2. Exciting exit opportunities –
In every innovation cycle, new players take over a slightly larger piece of the pie.
And then there’s a consolidation phase where older incumbents invest in or buy some of those companies that come out of it.
In every cycle, billion-dollar entrants (who achieve a billion dollars in sales in about 10 to 15 years) are bought up for anything between $500M and $5B.
In fact, one of our partners was bought last week for $6.2 billion.
So it’s one of the most exciting exit spaces in the investing world.
Because of huge investments, there are huge advancements in this industry.
At @babelforce, we are a heavily venture-backed company.
We are helping large enterprises with projects like deploying AI within their contact center in a few weeks. (Back in the 2000s, that could easily take up to a year!).
These days, if you’re a contact center manager you must look carefully at your future software portfolio.
Many of those products will be the market leaders in a few years, given the amount of investment.
If you’re an investor, you must keep an eye on the extraordinary investment opportunities in this industry.