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TMCNet:  Cloud-Based Contact Center Market - Global Forecast to 2022

[April 19, 2018]

Cloud-Based Contact Center Market - Global Forecast to 2022

DUBLIN, April 19, 2018 /PRNewswire/ --

The "Cloud-Based Contact Center Market by Solution (ACD, APO, Dialers, IVR, CTI, Reporting and Analytics, and Security), Service (Professional and Managed), Application, Deployment Model, Organization Size, Vertical, and Region - Global Forecast to 2022" report has been added to's offering.

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The global cloud-based contact center market is expected to grow from USD 6.80 Billion in 2017 to USD 20.93 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 25.2% during the forecast period.

Cloud-based contact center solutions enable several companies to utilize contact center providers' offerings on the cloud. These solutions streamline the process of providing modernized, up-to-date services to customers and personalize these services to meet their preferences and demands for providing the advantages of minimal capital investment; 24/7 technical support; and high levels of reliability, security, and scalability.

Moreover, these solutions are expected to witness a rise in demand as they are finding utility in improving the customer experience from industries, such as Banking, Financial Services, and Insurance (BFSI), telecommunications and Information Technology Enabled Services (ITES), and healthcare and life sciences.

This report provides detailed insights into the cloud-based contact center market, split across various regions, segments, and industries. The market has been segmented on the basis of components into solutions and services. The solutions considered for the market include Automatic Call Distribution (ACD), Agent Performance Optimization (APO), dialers, Interactive Voice Response (IVR), Computer Telephony Integration (CTI), reporting and analytics, security, and others (issue tracking solution, omni-channel solution, and mobile care solution).

The services considered for the cloud-based contact center market include professional services and managed services. The deployment model for the market consists of public cloud, private cloud, and hybrid cloud. The applications include call routing and queuing, data integration and recording, chat quality and monitoring, real-time decision-making, and workforce optimization.

The market has been segmented on the basis of organization sizes into Small and Medium-sized Enterprises (SMEs) and large enterprises. The large enterprises segment is expected to have the larger market size due to high demand for enhanced cloud-based contact center systems that help in enhancing customer experience. The advantages, such as pay-per-use subscription model, better scalability, and improved flexibility are expected to create significant demand for cloud-based contact center solutions and fuel the growth of the market.

Cloud Based Contact Center Market

The report covers all the major aspects of the cloud-based contact center market and provides an in-depth analysis across the regions of North America, EuropeAsia Pacific (APAC), Middle East and Africa (MEA), and Latin America. The market in North America is expected to have the largest market share due to the presence of major vendors and increase in adoption of associated services. The APAC region is expected to provide several opportunities in the market and is projected to grow at the highest CAGR during the forecast period.

However, lack of awareness and risk of information loss are expected to restrain the market growth. Various vendors provide cloud-based contact center solutions to help enterprises reduce their Capital Expenditure (CAPEX).

NICE Ltd. is one of the major vendors that offer cloud-based contact center solutions. It offers solutions for workforce automation, contact center compliance, and omnichannel interaction recording.

Other vendors in the cloud-based contact center market include 8x8 Inc. (US), Five9 (US), Cisco Systems (US), Genesys (US), Oracle (US), NewVoiceMedia (UK), Connect First (US), Aspect Software (US), and 3CLogic (US). These market players have adopted various strategies, such as partnerships, collaborations, and expansions, to remain competitive in the market

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Market Opportunities in the Cloud-Based Contact Center Market
4.2 Cloud-Based Contact Center Market, Top 3 Verticals and Regions
4.3 Market Investment Scenario

5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers Pay-Per-Use Subscription Model for Charging End-Users Faster Deployment, Better Scalability, and Improved Flexibility Improved Business Continuity Cloud Compliance Requirements Improved Integration and Usability Increasing Demand in SMEs for Cloud-Based Contact Center Services
5.2.2 Restraints Risk of Information Loss Lack of Awareness About Cloud-Based Contact Centers in Some Regions On-Premises Contact Center Technology Covers A Large Portion of the Current Contact Center Market
5.2.3 Opportunities Improved Customer Experience Increasing Numbers of Enterprises are Harnessing the Benefits of Cloud-Based Contact Centers Rising Interest of the Major Market Vendors
5.2.4 Challenges Maintaining Integration Levels Poor It Infrastructure for Cloud-Based Contact Center Adoption
5.3 Technology Trends and Standards
5.3.1 Introduction
5.3.2 Standards and Guidelines for the Cloud-Based Contact Center Market Service Organization Control (SOC) 2 Sarbanes-Oxley Act (SOX) Gramm-Leach-Bliley Act (GLBA) Health Insurance Portability and Accountability Act (HIPAA) National Institute of Standards and Technology (NIST) Cybersecurity Framework (CSF) Cloud Security Alliance (CSA) Cloud Controls Matrix (CCM) Payment Card Industry Data Security Standard (PCI DSS) Federal Information Security Management Act (FISMA)
5.4 Cloud-Based Contact Center Market: Value Chain Analysis
5.5 Market Ecosystem

6 Cloud-Based Contact Center Market, By Solution
6.1 Introduction
6.2 Automatic Call Distribution
6.3 Agent Performance Optimization
6.4 Dialers
6.5 Interactive Voice Response
6.6 Computer Telephony Integration
6.7 Reporting and Analytics
6.8 Security
6.9 Others

7 Cloud-Based Contact Center Market, By Service
7.1 Introduction
7.2 Professional Services
7.3 Managed Services

8 Cloud-Based Contact Center Market, By Application
8.1 Introduction
8.2 Call Routing and Queuing
8.3 Data Integration and Recording
8.4 Chat Quality and Monitoring
8.5 Real-Time Decision Making
8.6 Workforce Optimization

9 Cloud-Based Contact Center Market, By Deployment Model
9.1 Introduction
9.2 Public Cloud
9.3 Private Cloud
9.4 Hybrid Cloud

10 Cloud-Based Contact Center Market, By Organization Size
10.1 Introduction
10.2 Large Enterprises
10.3 Small and Medium-Sized Enterprises

11 Cloud-Based Contact Center Market, By Vertical
11.1 Introduction
11.2 Banking, Financial Services, and Insurance
11.3 Consumer Goods and Retail
11.4 Government and Public Sector
11.5 Healthcare and Life Sciences
11.6 Manufacturing
11.7 Media and Entertainment
11.8 Telecommunication and Ites
11.9 Others

12 Cloud-Based Contact Center Market, By Region

13 Competitive Landscape
13.1 Overview
13.1.1 Market Ranking
13.1.2 New Product/Technology Launches
13.1.3 Partnerships, Agreements, and Collaborations
13.1.4 Mergers and Acquisitions

14 Company Profiles
14.1 Introduction
14.2 8x8, Inc.
14.3 Five9
14.4 Cisco Systems
14.5 Genesys
14.6 Oracle
14.7 Newvoicemedia
14.8 Connect First
14.9 Aspect Software
14.10 Nice Ltd.
14.11 3clogic
14.12 Key Innovators
14.12.1 Bt Group
14.12.2 West Corporation
14.12.3 Liveops
14.12.4 Mitel Networks Corporation
14.12.5 Ozonetel Systems Pvt. Ltd
14.12.6 Evolve IP, LLC.

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