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 ResearchAndMarkets.com's offering.
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 MarketThe 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.
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 Introduction2 Research Methodology3 Executive Summary 4 Premium Insights 4.1 Attractive Market Opportunities in the Cloud-Based Contact Center Market4.2 Cloud-Based Contact Center Market, Top 3 Verticals and Regions4.3 Market Investment Scenario5 Market Overview and Industry Trends 5.1 Introduction5.2 Market Dynamics5.2.1 Drivers220.127.116.11 Pay-Per-Use Subscription Model for Charging End-Users18.104.22.168 Faster Deployment, Better Scalability, and Improved Flexibility22.214.171.124 Improved Business Continuity126.96.36.199 Cloud Compliance Requirements188.8.131.52 Improved Integration and Usability184.108.40.206 Increasing Demand in SMEs for Cloud-Based Contact Center Services5.2.2 Restraints220.127.116.11 Risk of Information Loss18.104.22.168 Lack of Awareness About Cloud-Based Contact Centers in Some Regions22.214.171.124 On-Premises Contact Center Technology Covers A Large Portion of the Current Contact Center Market5.2.3 Opportunities126.96.36.199 Improved Customer Experience188.8.131.52 Increasing Numbers of Enterprises are Harnessing the Benefits of Cloud-Based Contact Centers184.108.40.206 Rising Interest of the Major Market Vendors5.2.4 Challenges220.127.116.11 Maintaining Integration Levels18.104.22.168 Poor It Infrastructure for Cloud-Based Contact Center Adoption5.3 Technology Trends and Standards5.3.1 Introduction5.3.2 Standards and Guidelines for the Cloud-Based Contact Center Market22.214.171.124 Service Organization Control (SOC) 126.96.36.199 Sarbanes-Oxley Act (SOX)188.8.131.52 Gramm-Leach-Bliley Act (GLBA)184.108.40.206 Health Insurance Portability and Accountability Act (HIPAA)220.127.116.11 National Institute of Standards and Technology (NIST) Cybersecurity Framework (CSF)18.104.22.168 Cloud Security Alliance (CSA) Cloud Controls Matrix (CCM)22.214.171.124 Payment Card Industry Data Security Standard (PCI DSS)126.96.36.199 Federal Information Security Management Act (FISMA)5.4 Cloud-Based Contact Center Market: Value Chain Analysis5.5 Market Ecosystem6 Cloud-Based Contact Center Market, By Solution 6.1 Introduction6.2 Automatic Call Distribution6.3 Agent Performance Optimization6.4 Dialers6.5 Interactive Voice Response6.6 Computer Telephony Integration6.7 Reporting and Analytics6.8 Security6.9 Others7 Cloud-Based Contact Center Market, By Service 7.1 Introduction7.2 Professional Services7.3 Managed Services8 Cloud-Based Contact Center Market, By Application 8.1 Introduction8.2 Call Routing and Queuing8.3 Data Integration and Recording8.4 Chat Quality and Monitoring8.5 Real-Time Decision Making8.6 Workforce Optimization9 Cloud-Based Contact Center Market, By Deployment Model 9.1 Introduction9.2 Public Cloud9.3 Private Cloud9.4 Hybrid Cloud10 Cloud-Based Contact Center Market, By Organization Size 10.1 Introduction10.2 Large Enterprises10.3 Small and Medium-Sized Enterprises11 Cloud-Based Contact Center Market, By Vertical 11.1 Introduction11.2 Banking, Financial Services, and Insurance11.3 Consumer Goods and Retail11.4 Government and Public Sector11.5 Healthcare and Life Sciences11.6 Manufacturing11.7 Media and Entertainment11.8 Telecommunication and Ites11.9 Others12 Cloud-Based Contact Center Market, By Region13 Competitive Landscape 13.1 Overview13.1.1 Market Ranking13.1.2 New Product/Technology Launches13.1.3 Partnerships, Agreements, and Collaborations13.1.4 Mergers and Acquisitions14 Company Profiles 14.1 Introduction14.2 8x8, Inc.14.3 Five914.4 Cisco Systems14.5 Genesys14.6 Oracle14.7 Newvoicemedia14.8 Connect First14.9 Aspect Software14.10 Nice Ltd.14.11 3clogic14.12 Key Innovators14.12.1 Bt Group14.12.2 West Corporation14.12.3 Liveops14.12.4 Mitel Networks Corporation14.12.5 Ozonetel Systems Pvt. Ltd14.12.6 Evolve IP, LLC.
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