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Cloud-Based Contact Centers Market: Growth, Future Prospects & Competitive Analysis, 2018 - 2026

Overview:

Rapid adoption for new technology and need for reduction in data saving & handling cost are proving cloud-based solutions as vital need for business enterprises. Cloud-based contact centers are synchronized systems designed for organizations that enables communication among resources through secured and appropriate channel. Growing adoption of cloud-based services by network service providers (NSPs) is prominent factor for escalating cloud-based contact centers market. With globalization of businesses, organizations are demanding for interconnected cloud based unified communication service for their employees. With such high demand by organizations NSPs are realizing the potential of cloud-based contact center service to expand their offerings on global basis.

Due to cost effective nature, small & mid-sized organizations are early adopters of cloud-based contact center services, thereby appearing a prominent consumer base. This is also due to the fact that small & mid-sized organizations have relatively higher adoption of cloud services, especially in North America and Europe. On the other hand, features such as global accessibility have attracted larger enterprises for simplified and flexible communication process among resources. Growing trend of outsourcing services is another supporting factor for cloud-based contact center market growth. As organizations are looking to stay focused on their core business, outsourcing of supportive processes has emerged as an important trend to minimize costs and enhance productivity. For instance, in April 2018, TCN, Inc., a cloud-based call center service provider, announced to sign a contract with CallMiner, Inc., a customer engagement analytics provider. With this partnership, TCN, Inc. will offer its cloud-based contact center service to CallMiner, Inc. This partnership allows CallMiner, Inc. to transcribe, record and obtain important insights from customer calls. As this is very sensitive data to handle, TCN, Inc. will offer very secured and flexible way of cloud-based contact center to CallMiner, Inc.

With strong penetration of cloud-based services, adoption for cloud-based contact center services continues to grow in North America. Presence of large number of market players is another important factor supporting the strong penetration of these solutions in the region. Further, factors such as cost effectiveness and global accessibility are expected to encourage the adoption of cloud-based contact center at high rate in Asia Pacific. With strong growth in retail and IT & telecommunication sectors, the region is set to emerge highly promising in the following years. Similarly, growing number of BPOs in the region, organizations continue to focus on improving their customer service to stand out strongly in the competitive market.

The global cloud-based contact centers market is segmented on the following basis:

  • Engagement Model:
    • On-demand Services
    • End-to-end Services
  • End-user:
    • Small & Medium Enterprises (SMEs)
    • Large Enterprises
  • Solutions:
    • Interactive Voice Response (IVR)
    • Automatic Call Distribution (ACD)
    • Agent Performance Optimization (APO)
    • Dialers
    • Computer Telephonic Integration
    • Analytics & Reporting
  • Industry Verticals:
    • Banks, Financial Services & Insurance (BFSI)
    • Media & Entertainment
    • IT & Telecommunication
    • Manufacturing
    • Defense
    • Energy & Power
    • Travel & Hospitality
    • Healthcare & Life Science
  • Geography:
    • North America
      • U.S.
      • Rest of North America
    • Europe
      • U.K.
      • Germany
      • France
      • Rest of Europe
    • Asia Pacific
      • Japan
      • China
      • South Asia
      • Rest of Asia Pacific
    • Rest of the World (RoW)
      • Latin America
      • Middle East & Africa (MEA)

Key players identified in cloud-based contact centers market include but are not limited to: 

International Business Machines (IBM) Corporation, Accenture Plc., SAP SE, Enghouse Systems Ltd., Cisco Systems, Inc., inContact, Inc., Genesys Telecommunications Laboratories, Inc., Connect First, Inc., Verizon Communications, Inc., Oracle Corporation, 8x8, Inc., Five9, Inc., 3CLogic. Inc., Interactive Intelligence Group, Inc. and others.

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