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Global Cloud-Based Contact Center Market By Solution (ACD, APO, Dialers, IVR, CTI, Reporting & Analytics and Security), Service Type (Professional Services, Managed Services), Application (Call routing and queuing, Data integration and recording, Chat quality and monitoring, Real-time decision-making, Workforce Optimization (WFO)), Organization Size (Small and Medium-sized Enterprises (SMEs), Large enterprises), Deployment Model (Public cloud, Private cloud, Hybrid cloud), 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) Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global Cloud-Based Contact Center Market
Global Cloud-Based Contact Center Market is expected to rise from its initial estimated value of USD 9.39 billion in 2018 to an estimated value of USD 52.51 billion by 2026, registering a CAGR of 24% in the forecast period of 2019-2026. This rise in market value can be increasing demand in smes for cloud-based contact center services.
Market Definition: Global Cloud-Based Contact Center Market
The cloud-based contact center plays the vital role in contact center technology sector. The interaction in cloud contact is made through voice, email, social media and the web accessible from virtually anywhere. It has its wide application in banking, financial services, and insurance (BFSI), consumer goods and retail, government and public sector, healthcare and life sciences, media and entertainment, manufacturing, telecommunication and ITES, and others.Faster deployment, scalability, and flexibility and cloud compliance requirements may act as the major driver in the growth of cloud-based contact center market. On the other hand high initial investment may hamper the market.
- By Improved business continuity, this act as a driver to the Market.
- Cloud compliance requirements, this act as a driver to the market.
- Due to high initial investment, this act as restraints to the market.
Segmentation: Global Cloud-Based Contact Center Market
- Reporting & Analytics
By Service type
- Professional Services
- Managed Services
- Call routing and queuing
- Data integration and recording
- Chat quality and monitoring
- Real-time decision-making
- Workforce Optimization (WFO)
By Organisation Size
- Small and Medium-sized Enterprises (SMEs)
- Large enterprises
By Deployment Model
- Public cloud
- Private cloud
- Hybrid cloud
- Banking, Financial Services, and Insurance (BFSI)
- Consumer goods and retail
- Government and public sector
- Healthcare and life sciences
- Media and entertainment
- Telecommunication and Information Technology Enabled Services (ITES)
- Transportation and logistics
Key Developments in the Market:
- In April 2019, Five9 leading provider of cloud contact center software was recognized as one of the 25 highest rated public cloud computing companies to work for.
- In February 2019, Vector Capital announced the successful completion of its acquisition of Aspect Software, Inc., after this acquisition company focused on looking forward to supporting management on the tremendous opportunity in the growing customer engagement and call center space.
Competitive Analysis: Global Cloud-Based Contact Center Market
Global cloud-based contact center market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of cloud-based contact center market for Global, Europe, North America, Asia-Pacific and South America.
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Major Market Competitors/Players: Global Cloud-Based Contact Center Market
Few of the major competitors currently working in the cloud-based contact center market are Oracle (US), 8×8, Inc. (US), Five9, Inc. (US), Cisco Systems (US), Genesys (US), NICE Systems Ltd. (Israel), NewVoiceMedia (UK), 3CLogic.com. US), RingCentral, Inc., Aspect Software (US), (US), Empirix (US), InVision Software, Inc., Intelenet Global Services, VitalPBX, Aircall, Arbeit Software. (USA), 3CX, Atos SE (Germany), Vocalcom (France), Huawei Cloud and other.
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