Global Cloud Based Contact Center Market - By Solutions Offered (ACD, APO, Dialers, IVR, CTI, Analytics and Reporting, Omni channel solutions), Services (Managed Services, System Integrators), Deployment Model (On Premise, On Demand), Organization Size ( Small and Medium Size Enterprises, Large Enterprises), Industry, Geography, Trends, Forecast - (2017 - 2022)

Published - Jan 2017 | Category - ICT and Media | No. of Pages - 140 | Published By - Mordor Intelligence

Report Highlights

The Global Cloud Based Contact Market is valued at USD 5.68 billion in 2016 and is expected to reach a value of USD 28.79 billion by the end of 2022, growing at a projected CAGR of 26.08% during the forecast period of 2017 - 2022. A cloud-based contact center is a solution or model that enables businesses to host their contact center in a distant, third-party data center, avoiding the setup in a physical location owned by a contact center.

In a cloud-based contact center, the contact center does not host, own or operate infrastructure that the call center runs on. Instead, the organization pays a certain amount of money to a VoIP service provider to host the call center telecommunications in their data center. This lets the contact centers pay only for the services or minutes that they used, rather than paying for the whole infrastructural setup involved in setting up a call center, making it a much more reasonable solution. The major applications observed are call routing and queuing, workforce optimization, real-time decision making, chat quality monitoring and data integration and recording.

With the increase in globalization, many organizations are looking for a cost-effective approach to aid their business expansion and penetration. This can be achieved by cloud-based services, which do not require any distinct and high expenditure installations, thus driving the market extensively. Faster deployment times, reduced capital investments, scalability, augmented flexibility, stress-free management, and support and finally the ability to trial new applications are considered as the major drivers for this market. However, larger organizations, with already huge investment spends in on-premise applications and infrastructure spends, may not look for an immediate shift to the cloud-based contact centers. Hence, this might serve as a restraint for the market. However, recently it has been estimated that organizations are opting for hybrid solutions, which consist of both deliveries as a service and on-premise deployments. The risk of information loss, data security issues and maintain integration levels are observed as the key challenges for this market. Due to the improved customer service, a need for modernization is observed as one of the key opportunities in this market.

In our study, the global cloud-based contact center market is segmented by solutions offered, services provided, deployment model, user type, end-users and geography. The various solutions in this market observed in our study are automatic call distribution (ACD), agent performance optimization (APO), dialers, interactive voice response (IVR), computer telephony integration (CTI), analytics & reporting and omni channel solutions. The service segment of this market can be further segmented into system integrators, managed services and others. The various deployment models covered in our study are on-premise, on-demand and others. The various user types of these solutions are small & medium-sized enterprises and large enterprises. The cloud-based contact center market has seen rapid adoption across end-users such as BFSI, IT & telecom, media & entertainment, retail and others, which led to the rapid growth of the market. Organizations of all sizes, worldwide, are increasingly adopting cloud solutions for contact centers. The two types of segments observed under organization size are small & medium enterprises and large enterprises. It is seen that the small & medium-sized enterprises are opting for cloud-based contact centers compared to the well-established large enterprises to cover their gap in delivering an exceptional customer behavior in a cost-effective way.

The geographical coverage in our study includes North America, Latin America, Europe, Asia-Pacific and the Middle East & Africa. The Latin American market is still in its initial stages but is expected to show the highest-growth rate during the forecast period, while North America is expected to have the maximum market share. The contact center market in Mexico is expected to experience the maximum growth.

The key players identified in this market are -

Oracle

Cisco

Genesys

3C Logic

Interactive Intelligence

Connect First

Five 9

Mitel Networks Corporation

LiveOps Social

Aspect

AVOXI

8X8

inContact, Inc.

CloudAgent

Key Deliverables of the report

Market definition of cloud-based contact center, along with identification of key drivers and restraints for the market.

Market analysis for the global cloud-based contact center market, with region-specific assessments and competition analysis on a global and regional scale.

Identification of factors instrumental in changing the market scenario, rising prospective opportunities and identification of key companies which can influence the market on a global and regional scale.

Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market share.

Identification and analysis of the macro and micro factors that affect the global cloud-based contact center market on both global and regional scale.

A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
 

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