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 market. In this report, 2016 has been considered as the base year, while 2017–2022 as the forecast period.
Selected Market Dynamics in Cloud-based Contact Center Market
Cloud compliance requirements
Compliance enables enterprises to address industry standards and regulations, such as the Health Insurance Portability and Accountability Act (HIPAA) for health data, Gramm–Leach–Bliley Act (GLBA) for financial institutions, and Cloud Security Alliance (CSA) Cloud Controls Matrix (CCM) for assessing the overall security risks related to cloud providers. End-users are adopting enterprise-class cloud solutions that can address cloud compliance issues and governance needs.
In today’s diverse computing environment, enterprises require cloud service providers who are capable of addressing their compliance and governance needs. Cloud service providers assist enterprises in ensuring compliance with regulatory standards while leveraging the benefits offered by cloud applications. For example, West Corporation, a cloud-based contact center provider, enables enterprises to achieve security and privacy, and attain compliance with data protection through its cloud contact center platform.
Risk of information loss
Information security and privacy concerns about how and where data is stored may deter the adoption of cloud-based solutions in certain verticals, such as banking and federal government departments. These days, highly confidential and sensitive corporate data is being made available using public networks, which is a risk for any organization. Therefore, security concerns and issues have come to the forefront. It has also been detected that security is a major concern in voice systems, due to the continuous risk of eavesdropping. Today, most of the public attacks on Time-Division Multiplexing (TDM) phone systems and Internet Protocol (IP) telephony systems are Denial-of-Service (DoS) attacks, toll frauds, and eavesdropping. To overcome the risk of information loss, organizations should monitor the movement and location of their media traffic and data. Moreover, the media traffic and stored data should be in an encrypted format. Additional security measures should be used for the data stored in organizations’ networks and firewalls. The isolation of customers’ data on their personal virtual servers in the data center can also reduce the risks involved.
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 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 market.
Research Methodology
The research methodology used to estimate and forecast the 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:
To know about the assumptions considered for the study, download the pdf brochure
The 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 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 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.
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 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.
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Table of Contents
1 Introduction (Page No. - 15)
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.4 Years Considered for the Study
1.5 Currency Considered
1.6 Stakeholders
2 Research Methodology (Page No. - 18)
2.1 Research Data
2.1.1 Secondary Data
2.1.2 Primary Data
2.1.2.1 Breakdown of Primaries
2.1.2.2 Key Industry Insights
2.2 Market Size Estimation
2.3 Research Assumptions
2.4 Limitations
3 Executive Summary (Page No. - 25)
4 Premium Insights (Page No. - 29)
4.1 Attractive Market Opportunities in the Cloud-Based Contact Center Market
4.2 Market, Top 3 Verticals and Regions
4.3 Market Investment Scenario
5 Market Overview and Industry Trends (Page No. - 32)
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Pay-Per-Use Subscription Model for Charging End-Users
5.2.1.2 Faster Deployment, Better Scalability, and Improved Flexibility
5.2.1.3 Improved Business Continuity
5.2.1.4 Cloud Compliance Requirements
5.2.1.5 Improved Integration and Usability
5.2.1.6 Increasing Demand in SMEs for Cloud-Based Contact Center Services
5.2.2 Restraints
5.2.2.1 Risk of Information Loss
5.2.2.2 Lack of Awareness About Cloud-Based Contact Centers in Some Regions
5.2.2.3 On-Premises Contact Center Technology Covers A Large Portion of the Current Contact Center Market
5.2.3 Opportunities
5.2.3.1 Improved Customer Experience
5.2.3.2 Increasing Numbers of Enterprises are Harnessing the Benefits of Cloud-Based Contact Centers
5.2.3.3 Rising Interest of the Major Market Vendors
5.2.4 Challenges
5.2.4.1 Maintaining Integration Levels
5.2.4.2 Poor It Infrastructure for Cloud-Based Contact Center Adoption
5.3 Technology Trends and Standards
5.3.1 Introduction
5.3.2 Standards and Guidelines for the Cloud-Based Contact Center Market
5.3.2.1 Service Organization Control (SOC) 2
5.3.2.2 Sarbanes–Oxley Act (SOX)
5.3.2.3 Gramm–Leach–Bliley Act (GLBA)
5.3.2.4 Health Insurance Portability and Accountability Act (HIPAA)
5.3.2.5 National Institute of Standards and Technology (NIST) Cybersecurity Framework (CSF)
5.3.2.6 Cloud Security Alliance (CSA) Cloud Controls Matrix (CCM)
5.3.2.7 Payment Card Industry Data Security Standard (PCI DSS)
5.3.2.8 Federal Information Security Management Act (FISMA)
5.4 Market: Value Chain Analysis
5.5 Market Ecosystem
6 Cloud-Based Contact Center Market, By Solution (Page No. - 40)
6.1 Introduction
6.2 Automatic Call Distribution
6.3 Agent Performance Optimization
6.4 Dialers
6.5 Interactive Voice Response
6.6 Computer Telephony Integration
6.7 Reporting and Analytics
6.8 Security
6.9 Others
7 Market, By Service (Page No. - 48)
7.1 Introduction
7.2 Professional Services
7.3 Managed Services
8 Cloud-Based Contact Center Market, By Application (Page No. - 52)
8.1 Introduction
8.2 Call Routing and Queuing
8.3 Data Integration and Recording
8.4 Chat Quality and Monitoring
8.5 Real-Time Decision Making
8.6 Workforce Optimization
9 Market, By Deployment Model (Page No. - 59)
9.1 Introduction
9.2 Public Cloud
9.3 Private Cloud
9.4 Hybrid Cloud
10 Market, By Organization Size (Page No. - 64)
10.1 Introduction
10.2 Large Enterprises
10.3 Small and Medium-Sized Enterprises
11 Market, By Vertical (Page No. - 68)
11.1 Introduction
11.2 Banking, Financial Services, and Insurance
11.3 Consumer Goods and Retail
11.4 Government and Public Sector
11.5 Healthcare and Life Sciences
11.6 Manufacturing
11.7 Media and Entertainment
11.8 Telecommunication and Ites
11.9 Others
12 Cloud-Based Contact Center Market, By Region (Page No. - 76)
12.1 Introduction
12.2 North America
12.3 Europe
12.4 Asia Pacific
12.5 Middle East and Africa
12.6 Latin America
13 Competitive Landscape (Page No. - 96)
13.1 Overview
13.1.1 Market Ranking
13.1.2 New Product/Technology Launches
13.1.3 Partnerships, Agreements, and Collaborations
13.1.4 Mergers and Acquisitions
14 Company Profiles (Page No. - 102)
14.1 Introduction
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View)*
14.2 8x8, Inc.
14.3 Five9
14.4 Cisco Systems
14.5 Genesys
14.6 Oracle
14.7 Newvoicemedia
14.8 Connect First
14.9 Aspect Software
14.10 Nice Ltd.
14.11 3clogic
*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies.
14.12 Key Innovators
14.12.1 Bt Group
14.12.2 West Corporation
14.12.3 Liveops
14.12.4 Mitel Networks Corporation
14.12.5 Ozonetel Systems Pvt. Ltd
14.12.6 Evolve IP, LLC.
15 Appendix (Page No. - 133)
15.1 Insights of Industry Experts
15.2 Discussion Guide
15.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
15.4 Introducing RT: Real-Time Market Intelligence
15.5 Available Customizations
15.6 Related Reports
15.7 Author Details
List of Tables (70 Tables)
Table 1 Global Cloud-Based Contact Center Market: Assumptions
Table 2 Market Size, By Solution, 2015–2022 (USD Million)
Table 3 Automatic Cloud Distribution: Market Size, By Region, 2015–2022 (USD Million)
Table 4 Agent Performance Optimization: Market Size, By Region, 2015–2022 (USD Million)
Table 5 Dialers: Market Size, By Region, 2015–2022 (USD Million)
Table 6 Interactive Voice Response: Market Size, By Region, 2015–2022 (USD Million)
Table 7 Computer Telephony Integration: Market Size, By Region, 2015–2022 (USD Million)
Table 8 Reporting and Analytics: Cloud-Based Contact Center Market Size, By Region, 2015–2022 (USD Million)
Table 9 Security: Market Size, By Region, 2015–2022 (USD Million)
Table 10 Others: Market Size, By Region, 2015–2022 (USD Million)
Table 11 Market Size, By Service, 2015–2022 (USD Million)
Table 12 Professional Services: Market Size, By Region, 2015–2022 (USD Million)
Table 13 Managed Services: Market Size, By Region, 2015–2022 (USD Million)
Table 14 Market Size, By Application, 2015–2022 (USD Million)
Table 15 Call Routing and Queuing: Cloud-Based Contact Center Market Size, By Region, 2015–2022 (USD Million)
Table 16 Data Integration and Recording: Market Size, By Region, 2015–2022 (USD Million)
Table 17 Chat Quality and Monitoring: Market Size, By Region, 2015–2022 (USD Million)
Table 18 Real-Time Decision Making: Market Size, By Region, 2015–2022 (USD Million)
Table 19 Workforce Optimization: Market Size, By Region, 2015–2022 (USD Million)
Table 20 Market Size, By Deployment Model, 2015–2022 (USD Million)
Table 21 Public Cloud: Cloud-Based Contact Center Market Size, By Region, 2015–2022 (USD Million)
Table 22 Private Cloud: Market Size, By Region, 2015–2022 (USD Million)
Table 23 Hybrid Cloud: Market Size, By Region, 2015–2022 (USD Million)
Table 24 Market Size, By Organization Size, 2015–2022 (USD Million)
Table 25 Large Enterprises: Market Size, By Region, 2015–2022 (USD Million)
Table 26 Small and Medium-Sized Enterprises: Market Size, By Region, 2015–2022 (USD Million)
Table 27 Market Size, By Vertical, 2015–2022 (USD Million)
Table 28 Banking, Financial Services, and Insurance: Market Size, By Region, 2015–2022 (USD Million)
Table 29 Consumer Goods and Retail: Market Size, By Region, 2015–2022 (USD Million)
Table 30 Government and Public Sector: Market Size, By Region, 2015–2022 (USD Million)
Table 31 Healthcare and Life Sciences: Market Size, By Region, 2015–2022 (USD Million)
Table 32 Manufacturing: Market Size, By Region, 2015–2022 (USD Million)
Table 33 Media and Entertainment: Market Size, By Region, 2015–2022 (USD Million)
Table 34 Telecommunication and Ites: Market Size, By Region, 2015–2022 (USD Million)
Table 35 Others: Market Size, By Region, 2015–2022 (USD Million)
Table 36 Market Size, By Region, 2015–2022 (USD Million)
Table 37 North America: Cloud-Based Contact Center Market Size, By Solution, 2015–2022 (USD Million)
Table 38 North America: Market Size, By Service, 2015–2022 (USD Million)
Table 39 North America: Market Size, By Application, 2015–2022 (USD Million)
Table 40 North America: Market Size, By Deployment Model 2015–2022 (USD Million)
Table 41 North America: Market Size, By Organization Size, 2015–2022 (USD Million)
Table 42 North America: Market Size, By Vertical, 2015–2022 (USD Million)
Table 43 Europe: Cloud-Based Contact Center Market Size, By Solution, 2015–2022 (USD Million)
Table 44 Europe: Market Size, By Service, 2015–2022 (USD Million)
Table 45 Europe: Market Size, By Application, 2015–2022 (USD Million)
Table 46 Europe: Market Size, By Deployment Model, 2015–2022 (USD Million)
Table 47 Europe: Market Size, By Organization Size, 2015–2022 (USD Million)
Table 48 Europe: Market Size, By Vertical, 2015–2022 (USD Million)
Table 49 Asia Pacific: Cloud-Based Contact Center Market Size, By Solution, 2015–2022 (USD Million)
Table 50 Asia Pacific: Market Size, By Service, 2015–2022 (USD Million)
Table 51 Asia Pacific: Market Size, By Application, 2015–2022 (USD Million)
Table 52 Asia Pacific: Market Size, By Deployment Model, 2015–2022 (USD Million)
Table 53 Asia Pacific: Market Size, By Organization Size, 2015–2022 (USD Million)
Table 54 Asia Pacific: Market Size, By Vertical, 2015–2022 (USD Million)
Table 55 Middle East and Africa: Cloud-Based Contact Center Market Size, By Solution, 2015–2022 (USD Million)
Table 56 Middle East and Africa: Market Size, By Service, 2015–2022 (USD Million)
Table 57 Middle East and Africa: Market Size, By Application, 2015–2022 (USD Million)
Table 58 Middle East and Africa: Market Size, By Deployment Model, 2015–2022 (USD Million)
Table 59 Middle East and Africa: Market Size, By Organization Size, 2015–2022 (USD Million)
Table 60 Middle East and Africa: Market Size, By Vertical, 2015–2022 (USD Million)
Table 61 Latin America: Cloud-Based Contact Center Market Size, By Solution, 2015–2022 (USD Million)
Table 62 Latin America: Market Size, By Service, 2015–2022 (USD Million)
Table 63 Latin America: Market Size, By Application, 2015–2022 (USD Million)
Table 64 Latin America: Market Size, By Deployment Model, 2015–2022 (USD Million)
Table 65 Latin America: Market Size, By Organization Size, 2015–2022 (USD Million)
Table 66 Latin America: Market Size, By Vertical, 2015–2022 (USD Million)
Table 67 Market Ranking for the Market, 2017
Table 68 New Product/Technology Launches, 2015–2017
Table 69 Partnerships, Agreements, and Collaborations, 2015–2018
Table 70 Mergers and Acquisitions, 2015–2018
List of Figures (38 Figures)
Figure 1 Global Cloud-Based Contact Center Market: Market Segmentation
Figure 2 Market: Research Design
Figure 3 Breakdown of Primary Interviews: By Company, Designation, and Region
Figure 4 Data Triangulation
Figure 5 Market Size Estimation Methodology: Bottom-Up Approach
Figure 6 Market Size Estimation Methodology: Top-Down Approach
Figure 7 Cloud-Based Contact Center Market: Regional Snapshot
Figure 8 Market Snapshot, By Solution
Figure 9 Market Snapshot, By Service
Figure 10 Market Snapshot, By Organization Size
Figure 11 Market Snapshot, By Vertical
Figure 12 Increasing Adoption of Cloud-Based Offerings is Expected to Fuel the Growth of the Cloud-Based Contact Center Market
Figure 13 Banking, Financial Services, and Insurance Vertical, and North America are Estimated to Have the Largest Market Shares in 2017
Figure 14 Asia Pacific is Expected to Emerge as the Best Market for Investments Over the Next 5 Years
Figure 15 Market: Drivers, Restraints, Opportunities, and Challenges
Figure 16 Cloud-Based Contact Center Market: Value Chain Analysis
Figure 17 Market Ecosystem
Figure 18 Security Segment is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 19 Managed Services Segment is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 20 Chat Quality and Monitoring Segment is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 21 Hybrid Cloud Segment is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 22 Small and Medium-Sized Enterprises Segment is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 23 Consumer Goods and Retail Vertical is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 24 Asia Pacific is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 25 North America: Market Snapshot
Figure 26 Asia Pacific: Market Snapshot
Figure 27 Companies Adopted New Product/Technology Launches; and Partnerships, Agreements, and Collaborations as the Key Growth Strategies From 2015 to 2022
Figure 28 Geographic Revenue Mix of Key Market Players
Figure 29 8x8, Inc.: Company Snapshot
Figure 30 8x8, Inc.: SWOT Analysis
Figure 31 Five9: Company Snapshot
Figure 32 Five9: SWOT Analysis
Figure 33 Cisco Systems: Company Snapshot
Figure 34 Cisco Systems: SWOT Analysis
Figure 35 Genesys: SWOT Analysis
Figure 36 Oracle: Company Snapshot
Figure 37 Oracle: SWOT Analysis
Figure 38 Nice Ltd.: Company Snapshot
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