The cloud-based contact center market size was valued at USD 16106.5 million in 2020 and is expected to expand at a CAGR of 25.6% during forecast period 2021–2028. The growth of the market is attributed to increasing disposable income, minimum capital investment, 24/7 customer support service, and financial institutes are adopting new cloud-based technology.
A cloud contact center is an application, cloud-hosted service, and complete suite of tools for contact centers in major corporations that need sophisticated call routing, agent management, analytics, and multiple communications channels. A cloud-based contact center is organized structure that manages all customers’ communications over online platform. It allows the users to manage their outbound and inbound call center operations through secure access from anywhere.
Several corporations are adopting solutions offered by cloud-based contact center to manage operation in contact center during Covid-19 pandemic to perform remotely daily operations. Many enterprises across the globe adopted work from home model, due to this fact the demand for solutions offered by cloud-based contact center is projected to rise during the forecast period. As it provides benefit such as low setup cost, flexibility, and scalability.
The report on the Cloud-based contact center market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes |
Details |
Report Title |
Cloud-based contact center Market – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year |
2020 |
Historic Data |
2018-2019 |
Forecast Period |
2021-2028 |
Segmentation |
Types (Dialers, Agent Performance Optimization, and Automatic Call Distribution), Services (Professional Services and Managed Services), End-User Industries (Healthcare, Transport and Logistics, IT, Telecom, and BFSI, Entertainment and Media, Consumer and Retail, and Other End-user Industries) |
Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East and Africa |
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
Key Players covered in the Report |
3C Logic Inc., RingCentral Inc., Connect First Inc., Avaya Contact Center (Avaya Group), Genesys Telecommunications Laboratories Inc., Amazon Web Services, and ZephyrTel |
The BFSI segment accounts for a key share of the market and expected to grow at a rapid pace
Based on end-user industries, the cloud-based contact center market is segregated into healthcare, transport and logistics, IT & telecom, and BFSI, entertainment and media, consumer and retail, and other end-user industries. The BFSI segment accounts for a key share of the market. The growth of the market is attributed to rapid urbanization, data efficient, cost effective, and security. However, the consumer and retail segment are anticipated to expand at a rapid pace during the forecast period due to factors such as increase in awareness, provide up to date service to customer, and rapid digitalization in banking sector.
The professional service segment is estimated to hold a major market share
On the basis of services, the cloud-based contact center market is bifurcated into professional services and managed services. The professional services are employment services in the service sector. The service sectors need special training in science, or art. Some professional services need licenses and professional degree. Some of them require specific skills such as accounts, architects, engineers, teachers, doctors, and lawyers.
The automatic call distribution segment is projected to expand at a rapid pace during the forecast period
Based on types, the cloud-based contact center market is divided into dialers, agent performance optimization, and automatic call distribution. The automatic call distribution (ACD) is telephonic system that receives incoming calls automatically and gives out them to an available representative. Its objective is to help cloud-based contact center to manage and sort out wide-ranging size calls to avoid confusion between the team members. A dialer is an electronic device that is connected to a telephonic system to observe the dialed numbers and change them to provide services that require wide-ranging international or national access codes to dial. The agent performance optimization is majorly used in cloud-based contact center for agent-facing technologies. The agent performance optimization system is used for wide applications such as to improve service levels and reduce workforce cost.
The market in North America is estimated to hold major market share
On the basis of regions, the cloud-based contact center market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East and Africa. The market of Europe is anticipated to expand at a high CAGR during the forecast period due to minimum capital investment and increase in population. The market of North America is expected to hold major market share due to increase in number of applications in cloud platform, security, scalability, and reliability in major level of industry.
Segments Covered in the Report
The cloud-based contact center market has been segmented on the basis of
Types
Services
End-user
Region
Key Players
Key players competing in the cloud-based contact center market include 3C Logic Inc., RingCentral Inc., Connect First Inc., Avaya Contact Center (Avaya Group), Genesys Telecommunications Laboratories Inc., Amazon Web Services, and ZephyrTel.
Amazon Web Services and Zephyrtel solution signed telecom-focused co-operating contract to relocate ZephyrTel solutions to Amazon Web Services along with OASIS cloud-based contact center.
Some of these players are using several market strategies such as acquisitions, merger, collaborations, partnerships, capacity expansion, and product launches to enhance their market shares.
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