The latest research study by IMARC Group, “Cloud-based Contact Center Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” offers a comprehensive analysis of the industry, which comprises insights on global cloud-based contact center market. 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.
Cloud-based Contact Center Industry Outlook:
A cloud-based contact center, or cloud telephony, is a central-based communication enterprise that allows an outbound and inbound communication channel to connect with customers over a phone message, call, and email while maintaining a consistent record. It consists of applications and hosted services developed to support multi-channel contacts, intelligent call routing management, missed call alerts, data analytics, and workforce management tools. It also provides numerous benefits, including improved return on investment (ROI), better customer experiences, optimized agent efficiency, enhanced scalability and flexibility, advanced functionality, and reduced costs. At present, cloud-based contact center services are widely adopted across healthcare, consumer goods, retail, telecommunication, government, manufacturing, public, banking, financial services, and insurance (BFSI) sectors and information technology (IT) across the globe.
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The market is primarily driven by the escalating demand for cloud computing on account of its affordability, flexibility, scalability, and advanced features. In addition, the rising need for efficient communication systems across multiple sectors is contributing to market growth.
Moreover, the sudden outbreak of the coronavirus disease (COVID-19) pandemic and the widespread adoption of remote working practices have accelerated the adoption of cloud solutions across several countries. This, coupled with the rapid digitalization in the banking, financial service, and insurance (BFSI) industry, is providing a positive thrust to market growth.
Additionally, the increasing deployment of the contact center as a service (CCaaS) technology to ensure business continuity, minimize ownership costs, and reduce downtime, is also creating a positive market outlook. Furthermore, the rising integration of machine learning (ML) and artificial intelligence (AI) technologies with cloud-based contact center solutions is anticipated to propel market growth in the coming years.
|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|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Market Dynamics||Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,|
|Customization preview||If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.|
Key Market Segmentation:
The report has segmented the global cloud-based contact center market on the basis of component, deployment mode, organization size, end use industry and region.
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 Geography:
- 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
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List of Key Companies Covered in this Market Report:
The major players in the market are 3CLogic, 8×8 Inc., Avaya Inc., Cisco Systems Inc., Content Guru Limited, Five9 Inc., Genesys, NICE Ltd., RingCentral Inc., Talkdesk, Twilio Inc., Vocalcom and Vonage.
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