Overview and Scope
Cloud-based contact center refers to an application that is hosted on a web server and used by businesses to answer incoming and outgoing client calls. Cloud contact centres provide communication via a variety of platforms, including voice, email, social media, and chat, from any place and on any device. It is a full set of technologies, applications, and cloud-hosted solutions for contact centers in large companies which need multiple communication modes (such as messaging and phone calls), complex call routing, staff management, and analytics.
Sizing and Forecast
The cloud based contact center market size has grown rapidly in recent years. It will grow from $22.63 billion in 2023 to $26.91 billion in 2024 at a compound annual growth rate (CAGR) of 18.9%. The growth in the historic period can be attributed to cost efficiency and scalability, customer experience enhancement, disaster recovery and business continuity, compliance and security measures, agility and rapid deployment.
The cloud based contact center market size is expected to see exponential growth in the next few years. It will grow to $58.91 billion in 2028 at a compound annual growth rate (CAGR) of 21.6%. The growth in the forecast period can be attributed to demand for multichannel communication, increased focus on compliance management, predictive analytics for customer insights, enhanced self-service options, real-time analytics for decision-making. Major trends in the forecast period include rapid adoption of cloud-based solutions, omnichannel communication, analytics and business intelligenceenhanced security and compliance features, edge computing for low latency, integration with crm and business applications..
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Segmentation & Regional Insights
The cloud based contact center market covered in this report is segmented –
1) By Type: Automatic Call Distribution, Agent Performance Optimization, Dialers, Interactive Voice Response, Computer Telephony Integration, Analytics And Reporting
2) By Component: Solution, Services
3) By Deployment: Public, Private, Hybrid
4) By Application: Call Routing And Queuing, Data Integration And Recording, Chat Quality And Monitoring, Real-Time Decision Making, Workforce Optimization
5) By End-User: Banking, Financial Services and Insurance (BFSI), IT And Telecom, Media And Entertainment, Retail, Logistics And Transport, Healthcare, Other End Users
North America was the largest region in the cloud based contact center market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cloud based contact center market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The rising adoption of cloud based call centers is projected to drive the growth of the cloud based contact center market in the coming years. A network-based service in which a provider owns, and controls contact center technology is known as cloud-based call centers. Cloud based call centers provide innovative solutions to address company issues and remote services to enterprises on a subscription basis. For instance, in April 2021, according to a report published by 8×8 Inc. a US-based provider of Voice over IP products, 75% of contact centers are currently working in the cloud (44% fully, 31% hybrid), making them the majority of contact centers nowadays. Therefore, the rising adoption of cloud based call centers fuels the cloud based contact center market growth .
Key Industry Players
Major companies operating in the cloud based contact center market report are Genesys Telecommunications Laboratories Inc., 3CLogic Inc., Avaya Contact Center (Avaya Group), Connect First Inc., Five9 Inc., 8×8 Inc., Aspect Software, RingCentral Inc., NICE Systems Ltd., Ameyo Pvt. Ltd., Aircall SAS, Amazon Web Services Inc., Vocalcom Group, Talkdesk Inc., Vonage, Serenova LLC, Content Guru Inc., Evolve IP, TCN Inc., Tata Consultancy Services Limited, Worldline, Cisco Systems Inc., Sharpen Technologies, Bright Pattern Inc., Liveops, Mitel Networks Corporation, Enghouse Interactive Inc., Noble Systems Corporation, Alcatel-Lucent Enterprise, Altitude Xperience
The cloud based contact center market report table of contents includes:
1. Executive Summary
2. Cloud Based Contact Center Market Characteristics
3. Cloud Based Contact Center Market Trends And Strategies
4. Cloud Based Contact Center Market – Macro Economic Scenario
5. Global Cloud Based Contact Center Market Size and Growth
…..
31. Global Cloud Based Contact Center Market Competitive Benchmarking
32. Global Cloud Based Contact Center Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Cloud Based Contact Center Market
34. Cloud Based Contact Center Market Future Outlook and Potential Analysis
35. Appendix
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