Cloud-Based Contact Center Market

Cloud-Based Contact Center Market by Solution (ACD, APO, Dialers, IVR, CTI, Reporting and Analytics, and Security), Service (Professional and Managed), Application, Deployment Model, Organization Size, Vertical, and Region - Global Forecast to 2022

The cloud-based contact center market accounted for USD 5.73 billion in 2016 and is projected to reach USD 20.93 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 25.2% during the forecast period. A cloud-based contact center is a customer experience solution that enables companies to utilize contact center providers’ offerings on the cloud. The growth in the requirement for cost-effective and easily scalable solutions is the major growth driver of the cloud-based contact center market. In this report, 2016 has been considered as the base year, while 2017–2022 as the forecast period.

Objectives of the Study

The main objective of this report is to define, describe, and forecast the global cloud-based contact center market based on solutions, services, deployment models, organization sizes, applications, verticals, and regions. The report provides detailed information about the major factors (drivers, restraints, opportunities, and industry-specific challenges) influencing the market growth. The report aims to strategically analyze the micromarkets with respect to individual growth trends, prospects, and contributions to the global cloud-based contact center market. In addition, this report attempts to forecast the market size of the 5 main regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. Moreover, it strategically profiles the key market players and comprehensively analyzes their core competencies. Furthermore, it tracks and analyzes the competitive developments, such as joint ventures, mergers and acquisitions, new developments, and Research and Development (R&D) activities, in the cloud-based contact center market.

Research Methodology

The research methodology used to estimate and forecast the cloud-based contact center market initiates with capturing data on the key vendors’ revenues through secondary research using various sources, such as Cloud Security Alliance, Information Systems Security Association, and Institute of Electrical and Electronic Engineers (IEEE). In addition, the vendor offerings were taken into consideration to determine the market segmentation. The bottom-up procedure was employed to arrive at the overall industry size of the global cloud-based contact center market from the revenues of the key players in the market. Post-arrival at the overall market size, the total market was split into several segments and subsegments, which were then verified through primary research by conducting extensive interviews with the key people, such as Chief Executive Officers (CEOs), Vice Presidents (VPs), directors, and executives. The data triangulation and market breakdown procedures were employed to complete the overall market engineering process and arrive at the exact statistics for all the segments and subsegments. The breakdown of the primary profiles has been depicted in the figure below:

Cloud Based Contact Center Market

To know about the assumptions considered for the study, download the pdf brochure

The cloud-based contact center market includes various vendors, such as 8x8 Inc. (US), Five9 (US), Cisco Systems (US), Genesys (US), Oracle (US), NewVoiceMedia (UK), Connect First (US), Aspect Software (US), NICE Ltd. (Israel), and 3CLogic (US).

The Target Audience of the cloud-based contact center market report includes the following:

  • Cloud computing companies
  • Information Technology (IT) infrastructure equipment providers
  • Support infrastructure equipment providers
  • Component providers
  • Software providers
  • System integrators
  • Network service providers
  • Monitoring service providers
  • Professional service providers
  • Distributors and resellers
  • Government and standardization bodies
  • Healthcare organizations
  • Financial organizations

 “The study answers several questions for the stakeholders, primarily which market segments to focus on in the next 2–5 years for prioritizing the efforts and investments.”

Scope of the Report

The research report categorizes the cloud-based contact center market to forecast the revenues and analyze the trends in each of the following subsegments:

By Solution

  • Automatic Call Distribution (ACD)
  • Agent Performance Optimization (APO)
  • Dialers
  • Interactive Voice Response (IVR)
  • Computer Telephony Integration (CTI)
  • Reporting and analytics
  • Security
  • Others (issue tracking, omnichannel, and mobile care solution)

By Service

  • Professional service
  • Managed service

By Deployment Model

  • Public cloud
  • Private cloud
  • Hybrid cloud

By Organization Size:

  • Small and Medium-sized Enterprises (SMEs)
  • Large enterprises

By Application:

  • Call routing and queuing
  • Data integration and recording
  • Chat quality and monitoring
  • Real-time decision-making
  • Workforce Optimization (WFO)

By Vertical:

  • Banking, Financial Services, and Insurance (BFSI)
  • Consumer goods and retail
  • Government and public sector
  • Healthcare and life sciences
  • Manufacturing
  • Media and entertainment
  • Telecommunication and Information Technology Enabled Services (ITES)
  • Others (transportation and logistics, and education)

By Region:

  • North America
  • Europe
  • APAC
  • MEA
  • Latin America

Available Customizations

With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players

Country Information

  • Country-specific information and market data as per feasibility

The global cloud-based contact center market is expected to grow from USD 6.8 billion in 2017 to USD 20.9 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 25.2% during the forecast period. Cloud-based contact center solutions enable several companies to utilize contact center providers’ offerings on the cloud. These solutions streamline the process of providing modernized, up-to-date services to customers and personalize these services to meet their preferences and demands for providing the advantages of minimal capital investment; 24/7 technical support; and high levels of reliability, security, and scalability. Moreover, these solutions are expected to witness a rise in demand as they are finding utility in improving the customer experience from industry verticals, such as Banking, Financial Services, and Insurance (BFSI), telecommunications and Information Technology Enabled Services (ITES), and healthcare and life sciences.

This report provides detailed insights into the cloud-based contact center market, split across various regions, segments, and industry verticals. The market has been segmented on the basis of components into solutions and services. The solutions considered for the cloud-based contact center market include Automatic Call Distribution (ACD), Agent Performance Optimization (APO), dialers, Interactive Voice Response (IVR), Computer Telephony Integration (CTI), reporting and analytics, security, and others (issue tracking solution, omni-channel solution, and mobile care solution). The CTI segment is expected to hold the largest market size amongst the solutions.

The services considered for the cloud-based contact center market include professional services and managed services. The deployment model for the cloud-based contact center market consists of public cloud, private cloud, and hybrid cloud. The applications include call routing and queuing, data integration and recording, chat quality and monitoring, real-time decision-making, and workforce optimization. The market has been segmented on the basis of organization sizes into Small and Medium-sized Enterprises (SMEs) and large enterprises. The large enterprises segment is expected to have the larger market size due to high demand for enhanced cloud-based contact center systems that help in enhancing customer experience. Cloud-based contact centers are being widely adopted among enterprises, due to their advantages, such as high scalability, better flexibility, rapid deployment, and lower capital expenses.

Cloud Based Contact Center Market

The report covers all the major aspects of the cloud-based contact center market and provides an in-depth analysis across the regions of North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. The market in North America is expected to have the largest market share due to the presence of major vendors and increase in adoption of associated services. The APAC region is expected to provide several opportunities in the cloud-based contact center market and is projected to grow at the highest CAGR during the forecast period.

However, lack of awareness and risk of information loss are expected to restrain the market growth. Various vendors provide cloud-based contact center solutions to help enterprises reduce their Capital Expenditure (CAPEX). NICE Ltd. is one of the major vendors that offer cloud-based contact center solutions. It offers solutions for workforce automation, contact center compliance, and omnichannel interaction recording. Other vendors in the cloud-based contact center market include 8x8 Inc. (US), Five9 (US), Cisco Systems (US), Genesys (US), Oracle (US), NewVoiceMedia (UK), Connect First (US), Aspect Software (US), and 3CLogic (US). These market players have adopted various strategies, such as partnerships, collaborations, and expansions, to remain competitive in the market.

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

#####

Request for detailed methodology, assumptions & how numbers were triangulated.

Please share your problem/objectives in greater details so that our analyst can verify if they can solve your problem(s).
  • Select all
  • News-Letters with latest Market insights
  • Information & discussion on the relevant new products and services
  • Information & discussion on Market insights and Market information
  • Information & discussion on our events and conferences
    • Select all
    • Email Phone Professional and social network (Linkedin, etc)
Report Code
TC 2662
Published ON
Mar, 2018
Choose License Type
BUY NOW
  • SHARE
X
Request Customization
Speak to Analyst
Speak to Analyst
OR FACE-TO-FACE MEETING
PERSONALIZE THIS RESEARCH
  • Triangulate with your Own Data
  • Get Data as per your Format and Definition
  • Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
  • Any level of Personalization
REQUEST A FREE CUSTOMIZATION
LET US HELP YOU!
  • What are the Known and Unknown Adjacencies Impacting the Cloud-Based Contact Center Market
  • What will your New Revenue Sources be?
  • Who will be your Top Customer; what will make them switch?
  • Defend your Market Share or Win Competitors
  • Get a Scorecard for Target Partners
REQUEST A FREE WORKSHOP
ADJACENT MARKETS
REQUEST BUNDLE REPORTS
ONLINE CHAT
+1-888-600-6441
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
CONNECT WITH US
ABOUT TRUST ONLINE
© MarketsandMarkets Research Private Ltd. All rights reserved
...

Digital Virtual Assistant - MarketsandMarkets

...

Digital Virtual Assistant - MarketsandMarkets

Home