Market Research Future has calculated that the global cloud-based contact center market, which was valued at USD 6.47 Bn in 2017, is expected to expand at a highly optimistic CAGR of 25% during the assessment period. With this growth trajectory, the global market is expected to reach an evaluation of USD 24.11 Bn by the end of 2023. Cloud-based technology is rapidly growing in popularity due to its various advantages. Cloud-based contact centers are a center point which is hosted on an internet server for the management of all outbound and inbound communications.
Cloud-Based Contact Center Market are ideal for managing communication on all platforms including social media, emails, voice, and the web. With increased operational efficiency and overall cost effectiveness, cloud-based contact centers offer a range of different benefits which drive the adoption of the technology. Some benefits include improvement of RoI, improvement of flexibility and scalability as well as providing superior customer experiences. An increasing number of cloud compliance requirements and the standard model of pay per use subscriptions will likely encourage more end-users to adopt such technologies. Moreover, cloud-based contact centers are highly flexible and can be scaled to suit the size of any organization.
The risk of information loss and the general wariness regarding privacy of data on the cloud is expected to challenge market growth. Moreover, there is a general lack of awareness with regards to cloud-based contact centers. However, the rising interest displayed by global players in the market combined with rising investments is expected to drive the market toward new opportunities.
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Major Key Players:
Leading market players that have been included in MRFR’s report are 8×8 Inc. (US), Aspect Software (US), Connect First (US), Interlink Network Systems (US), 3CLogic (US), Oracle Corporation (US), Accurate Always, Inc.(US), Cisco Systems (US), Servion Global Solutions (India), Genesys (US), inContact, Inc.(US), NewVoiceMedia (UK), KM2 Solutions (US), Five9 (US), CCT Solutions (US), Extreme Networks, NICE Ltd. (Israel), and Liveops, Inc. (US).
Segmentation of the global cloud-based contact center market in MRFR’s report has been determined on the basis of solution, services, organization size, deployment model, vertical, and region. Solutions have been segmented to include automatic call distribution, agent performance optimization, dialers, interactive voice response, reporting & analytics, computer telephony integration, security, and others.
Services have been segmented largely into professional service and managed service.
Organization size has been segmented into large enterprise and small & medium enterprises. (SMEs).
Deployment model for cloud-based contact center includes private cloud, public cloud, and hybrid cloud.
Verticals, where cloud-based contact centers are adopted, include retail, BFSI, government & public sector, healthcare & life sciences, manufacturing, media & entertainment, IT & telecommunication, and others.
The regions that have been covered in the report include the Asia Pacific, North America, Europe and the Rest of the World. Although North America is expected to lead the global cloud-based contact center market due to the concentration of market leaders in the area. It is the Asia Pacific regional market that is expected to make the highest impact on the growth of the global market.
North America has a tendency toward the adoption of new technologies which is expected to drive the growth of the market. However, Asia Pacific represents a high opportunity during the assessment period. As the regional market starts recognizing the benefits of cloud-based solutions, the adoption of such technologies has also grown. Economic growth in emerging economies has prompted a demand for efficiency which is being sought out by the use of emerging technologies like IoT and cloud-based IT solutions.
- Cloud vendors
- Application design and development service providers
- System integrators/migration service providers
- Consultancy firms/advisory firms
- Training and education service providers
- Data integration service providers
- Managed service providers
- Data quality service providers
Table of Contents
1 Executive Summary
2 Scope of The Report
2.1 Market Definition
2.2 Scope of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
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List of Tables
Table1 Global Cloud-Based Contact Center Market, By Region, 2018–2023
Table2 North America: Cloud-Based Contact Center Market, By Country, 2018–2023
Table3 Europe: Cloud-Based Contact Center Market, By Country, 2018–2023
List of Figures
Figure 1 Global Cloud-Based Contact Center Market Segmentation
Figure 2 Research Methodology
Figure 3 Porter’s Five Forces Analysis of Global Cloud-Based Contact Center Market
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