The global cloud-based contact center market reached a value of US$ 17.7 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 63.8 Billion by 2027, exhibiting a CAGR of 23.10% during 2022-2027.
A cloud-based contact center solution combines all inbound and outbound customer communications channels into a single system allowing agents to connect with customers over a phone call, email, or message while maintaining a consistent record. It offers workforce management tools, enabling agents and supervisors to manage their time effectively. It also provides various benefits, such as advanced functionality, reduced costs, improved return on investment (ROI), better customer experiences, optimized agent efficiency, enhanced scalability, and flexibility. As a result, cloud-based contact center services are widely adopted in consumer goods, retail, telecommunication, government, public, healthcare, information technology (IT), manufacturing, and banking, financial services and insurance (BFSI) sectors across the globe.
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Important Attribute and highlights of the Report:
- Detailed analysis of the global market share
- Market Segmentation by component, deployment mode, organization size, end use industry and region.
- Historical, current, and projected size of the market in terms of volume and value
- Latest industry trends and developments
- Competitive Landscape for cloud-based contact center market
- Strategies of major players and product offerings
The market is primarily driven by the rising need for efficient communication systems across multiple sectors. This is escalating the demand for cloud-based contact center solutions due to their robust scalability, features, affordability, and flexibility. In addition, various organizations are migrating their contact center operations from a traditional on-premises model to a cloud-based contact center, which acts as another major growth-inducing factor. Moreover, the sudden outbreak of the coronavirus disease (COVID-19) pandemic and the increasing adoption of remote working practices to enhance the productivity and overall operational efficiency of workers have accelerated the utilization of cloud solutions across various countries.
Apart from this, the rapid digitalization in the banking, financial service, and insurance (BFSI) industry, along with the increasing utilization of contact center as a service (CCaaS) technology to minimize ownership costs, reduce downtime, and ensure business continuity is positively influencing the market growth. Furthermore, extensive research and development (R&D) activities conducted by the leading players to deliver natural interactive voice response (IVR) and the integration of machine learning (ML) and artificial intelligence (AI) technologies with the cloud-based contact center solutions are also creating a positive market outlook across the globe.
|Cloud-based Contact Center Market Report Scope|
|Market size value in 2021||US$ 17.7 Billion|
|Market forecast in 2027||US$ 63.8 Billion|
|Growth Rate||CAGR of 23.10% from 2022 to 2027|
|Base year for estimation||2021|
Key Players Included in Global Research Report:
- 8×8 Inc.
- Avaya Inc.
- Cisco Systems Inc.
- Content Guru Limited
- Five9 Inc.
- NICE Ltd.
- RingCentral Inc.
- Talkdesk, Twilio Inc.
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COVID-19 Impact Overview:
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Breakup by Component:
- Automatic Call Distribution
- Agent Performance Optimization
- Interactive Voice Response
- Computer Telephony Integration
- Analytics and Reporting
- Professional Services
- Managed Services
Breakup by Deployment Mode:
- Public Cloud
- Private Cloud
- Hybrid Cloud
Breakup by Organization Size:
- Small and Medium-sized Enterprises
- Large Enterprises
Breakup by End Use Industry:
- IT and Telecom
- Media and Entertainment
- Logistics and Transport
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
TOC for the Cloud-based Contact Center Market Research Report:
- Scope and Methodology
- Executive Summary
- Global Cloud-based Contact Center Market
- SWOT Analysis
- Value Chain Analysis
- Price Analysis
- Competitive Landscape
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