Global Cloud-Based Contact Center Market Size, Industry Analysis By Segmentations, Top Key Players, Trends, Future Development & Forecast 2024-2035
- PUBLISHED ON
- 10/11/2022
- NO OF PAGES
- 269
- CATEGORY
- Information Technology
Market Overview:
The global cloud-based contact center market was valued at USD 15.05 billion in 2022 and is projected to reach USD 46.07 billion by 2032, growing at a CAGR of 22.9% during the forecast period. The cloud-based contact center market refers to the use of cloud computing technology for contact center operations, including customer support, telemarketing, and sales activities. Cloud-based contact centers offer several benefits over traditional on-premises contact centers, including scalability, flexibility, and cost-effectiveness. The key drivers of Cloud-Based Contact Center Market include the increasing need for customer engagement and improved customer experience, the growing adoption of artificial intelligence (AI) and machine learning (ML) technologies, and the rising demand for omnichannel communication solutions.
Driver: Growing demand for improved customer experience management is propelling Cloud-Based Contact Center Market growth.
One of the driving factors of the Cloud-Based Contact Center market is the growing demand for improved customer experience management (CEM) solutions. With businesses focusing more on providing seamless customer experiences, cloud-based contact centers offer advanced features like real-time analytics, AI-based virtual agents, and omnichannel support that can help enhance customer satisfaction levels. Cloud-based solutions also offer flexibility and scalability, enabling businesses to quickly adapt to changing customer demands and requirements. Additionally, cloud-based contact centers help companies reduce operational costs, as they eliminate the need for on-premises hardware and software, leading to increased adoption of cloud-based solutions.
Segmentation:
By Deployment Model:
· Public Cloud
· Private Cloud
· Hybrid Cloud
By Organization Size:
· Small and Medium-sized Enterprises (SMEs)
· Large Enterprises
By Vertical:
· Banking, Financial Services, and Insurance (BFSI)
· Government and Public Sector
· Healthcare and Life Sciences
· Retail and Consumer Goods
· Telecommunications and Information Technology (IT)
· Others
Geographical Analysis:
North America is expected to dominate the cloud-based contact center market in terms of market share. The region is the early adopter of advanced technologies and has a large number of cloud-based contact center providers. The Asia Pacific region is also expected to grow at the highest CAGR during the forecast period, owing to the increasing adoption of cloud-based solutions and services in emerging economies such as India and China.
PEST Analysis: Global Cloud-Based Contact Center Market
Political factors: Political factors can have an impact on the cloud-based contact center market, such as government regulations and policies regarding data privacy and security. For example, the European Union's General Data Protection Regulation (GDPR) has had a significant impact on how businesses handle customer data. Governments can also play a role in promoting the adoption of cloud-based contact center solutions through incentives or funding programs.
Economic factors: Economic factors can also impact the cloud-based contact center market. For instance, economic downturns can lead to budget cuts, which could affect businesses' ability to invest in new technologies. Conversely, economic growth can lead to increased investment in customer service and contact center technologies.
Social factors: Social factors such as changing customer behavior and preferences can impact the cloud-based contact center market. For instance, customers are increasingly using digital channels such as social media, messaging apps, and chatbots to interact with businesses. This has led to an increased demand for cloud-based contact center solutions that can handle these channels effectively.
Technological factors: Technological factors are perhaps the most significant driver of the cloud-based contact center market. Advancements in artificial intelligence, natural language processing, and analytics are leading to more intelligent and personalized contact center experiences. Cloud-based contact center solutions are also becoming more scalable, flexible, and cost-effective, enabling businesses of all sizes to adopt them.
Recent Development: Global Cloud-Based Contact Center Market
· In January 2019, Five9 Inc., a leading provider of cloud contact center software, announced the acquisition of Whendu’s iPaaS platform, aimed at enhancing its cloud contact center offerings.
· In February 2019, NICE inContact, a provider of cloud contact center software, announced the integration of its CXone platform with Google Cloud Contact Center AI, aimed at providing advanced AI capabilities to contact centers.
· In March 2019, Genesys, a leading provider of omnichannel customer experience and contact center solutions, announced its acquisition of AI-powered customer experience platform provider Altocloud, to enhance its cloud offerings.
These developments reflect the increasing demand for cloud-based contact center solutions and the continuous efforts of companies to improve their offerings through acquisitions and partnerships.
Impact of the COVID-19 on the global Cloud-Based Contact Center Market:
The COVID-19 pandemic has had a significant impact on the global cloud-based contact center market. With remote work becoming the new normal, businesses have had to rapidly adopt cloud-based contact center solutions to enable their agents to work from home and ensure business continuity. With on-premise contact centers becoming less feasible due to social distancing guidelines and lockdowns, businesses have had to turn to cloud-based solutions to enable remote work. This has led to a surge in demand for cloud-based contact center solutions. With customers unable to visit physical locations due to lockdowns and social distancing, businesses have had to adopt digital channels such as email, chat, and social media to interact with customers. This has led to an increased demand for cloud-based contact center solutions that can handle these channels effectively. With customers facing uncertainty and anxiety due to the pandemic, businesses have had to prioritize customer experience to maintain customer loyalty. Cloud-based contact center solutions that offer advanced analytics and personalized interactions have become more important than ever.
Cloud-based contact center solutions that offer AI-powered features have become increasingly popular. In conclusion, the COVID-19 pandemic has accelerated the adoption of cloud-based contact center solutions and highlighted the importance of digital channels, customer experience, and AI-powered solutions in the contact center industry. Cloud-Based Contact Center Market is expected to continue growing as businesses look for ways to enable remote work and maintain customer loyalty in the post-pandemic world.
Company Profiles:
· Amazon Web Services
· Five9 Inc.
· Twilio Inc.
· Cisco Systems Inc.
· 8x8 Inc.
· Genesys Telecommunications Laboratories Inc.
· Oracle Corporation
· NICE inContact
· Vonage Holdings Corp.
· Serenova
· RingCentral Inc.
· Connect First Inc.
· Aspect Software Inc.
· Talkdesk Inc.
· SAP SE.
Why to buy this Report?
Market research: The report provides valuable insights into market trends, growth opportunities, and competitive landscapes. By reading a technology report, businesses and investors can gain a better understanding of Cloud-Based Contact Center Market they are operating in or considering entering, and make more informed decisions based on data and analysis.
Competitive analysis: The report reports provide detailed information on competitors' strengths, weaknesses, and strategies, which can help businesses identify potential threats and opportunities in Cloud-Based Contact Center Market.
Innovation: The report provides insights into emerging technologies and trends, which can help businesses stay up-to-date with the latest developments and make informed decisions about where to invest their resources.
Due diligence: The report can be used by investors and acquirers as part of their due diligence process when considering investing in or acquiring a technology company. These reports can provide valuable information on the company's financials, technology, market position, and other key factors.
Global Cloud-Based Contact Center Market: Market Size Estimation
Both the top-down and bottom-up approaches were used to estimate and validate the size of the market and to estimate the size of various other dependent sub-markets of various marketspaces. The key players in the markets are identified through secondary research, and their market contributions in different applications across regions and globally were determined through primary and secondary research. This entire process included the study of the annual and financial reports of the top market players and extensive interviews for key insights with industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources. All the possible parameters that affect the market covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analysed to arrive at the final quantitative and qualitative data. This data has been consolidated, and detailed inputs and analysis from Analytics Market Research added before being presented in this report.
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Historic Year: 2016-2022
Forecast: 2024-2035
1 Cloud-Based Contact Center Market Definition and Overview
1.1 Objectives of the Study
1.2 Overview of Cloud-Based Contact Center
1.3 Cloud-Based Contact Center Market Scope and Market Size Estimation
1.4 Market Segmentation
1.4.1 Types of Cloud-Based Contact Center
1.4.2 Applications of Cloud-Based Contact Center
1.5 Market Exchange Rate
2 Research Method and Logic
2.1 Methodology
2.2 Research Data Source
3 Market Competition Analysis
3.1 FIVE9 Inc. Market Performance Analysis
3.1.1 FIVE9 Inc. Basic Information
3.1.2 Product and Service Analysis
3.1.3 Strategies for Company to Deal with the Impact of COVID-19
3.1.4 FIVE9 Inc. Sales, Value, Price, Gross Margin 2016-2021
3.2 3CLogic Market Performance Analysis
3.2.1 3CLogic Basic Information
3.2.2 Product and Service Analysis
3.2.3 Strategies for Company to Deal with the Impact of COVID-19
3.2.4 3CLogic Sales, Value, Price, Gross Margin 2016-2021
3.3 NEWVOICEMEDIA Market Performance Analysis
3.3.1 NEWVOICEMEDIA Basic Information
3.3.2 Product and Service Analysis
3.3.3 Strategies for Company to Deal with the Impact of COVID-19
3.3.4 NEWVOICEMEDIA Sales, Value, Price, Gross Margin 2016-2021
3.4 8X8, Inc. Market Performance Analysis
3.4.1 8X8, Inc. Basic Information
3.4.2 Product and Service Analysis
3.4.3 Strategies for Company to Deal with the Impact of COVID-19
3.4.4 8X8, Inc. Sales, Value, Price, Gross Margin 2016-2021
3.5 Cisco Systems, Inc. Market Performance Analysis
3.5.1 Cisco Systems, Inc. Basic Information
3.5.2 Product and Service Analysis
3.5.3 Strategies for Company to Deal with the Impact of COVID-19
3.5.4 Cisco Systems, Inc. Sales, Value, Price, Gross Margin 2016-2021
3.6 Connect First Inc. Market Performance Analysis
3.6.1 Connect First Inc. Basic Information
3.6.2 Product and Service Analysis
3.6.3 Strategies for Company to Deal with the Impact of COVID-19
3.6.4 Connect First Inc. Sales, Value, Price, Gross Margin 2016-2021
3.7 NICE Systems ltd. Market Performance Analysis
3.7.1 NICE Systems ltd. Basic Information
3.7.2 Product and Service Analysis
3.7.3 Strategies for Company to Deal with the Impact of COVID-19
3.7.4 NICE Systems ltd. Sales, Value, Price, Gross Margin 2016-2021
3.8 Oracle Corporation Market Performance Analysis
3.8.1 Oracle Corporation Basic Information
3.8.2 Product and Service Analysis
3.8.3 Strategies for Company to Deal with the Impact of COVID-19
3.8.4 Oracle Corporation Sales, Value, Price, Gross Margin 2016-2021
3.9 Aspect Software Parent Inc. Market Performance Analysis
3.9.1 Aspect Software Parent Inc. Basic Information
3.9.2 Product and Service Analysis
3.9.3 Strategies for Company to Deal with the Impact of COVID-19
3.9.4 Aspect Software Parent Inc. Sales, Value, Price, Gross Margin 2016-2021
3.10 Genesys Telecommunications Laboratories, Inc. Market Performance Analysis
3.10.1 Genesys Telecommunications Laboratories, Inc. Basic Information
3.10.2 Product and Service Analysis
3.10.3 Strategies for Company to Deal with the Impact of COVID-19
3.10.4 Genesys Telecommunications Laboratories, Inc. Sales, Value, Price, Gross Margin 2016-2021
4 Market Segment by Type, Historical Data and Market Forecasts
4.1 Global Cloud-Based Contact Center Production and Value by Type
4.1.1 Global Cloud-Based Contact Center Production by Type 2016-2021
4.1.2 Global Cloud-Based Contact Center Market Value by Type 2016-2021
4.2 Global Cloud-Based Contact Center Market Production, Value and Growth Rate by Type 2016-2021
4.2.1 Automatic Call Distribution (ACD) Market Production, Value and Growth Rate
4.2.2 Agent Performance Optimization (APO) Market Production, Value and Growth Rate
4.2.3 Dialers Market Production, Value and Growth Rate
4.2.4 Interactive Voice Response (IVR) Market Production, Value and Growth Rate
4.2.5 Others Market Production, Value and Growth Rate
4.3 Global Cloud-Based Contact Center Production and Value Forecast by Type
4.3.1 Global Cloud-Based Contact Center Production Forecast by Type 2022-2030
4.3.2 Global Cloud-Based Contact Center Market Value Forecast by Type 2022-2030
4.4 Global Cloud-Based Contact Center Market Production, Value and Growth Rate by Type Forecast 2022-2030
4.4.1 Automatic Call Distribution (ACD) Market Production, Value and Growth Rate Forecast
4.4.2 Agent Performance Optimization (APO) Market Production, Value and Growth Rate Forecast
4.4.3 Dialers Market Production, Value and Growth Rate Forecast
4.4.4 Interactive Voice Response (IVR) Market Production, Value and Growth Rate Forecast
4.4.5 Others Market Production, Value and Growth Rate Forecast
5 Market Segment by Application, Historical Data and Market Forecasts
5.1 Global Cloud-Based Contact Center Consumption and Value by Application
5.1.1 Global Cloud-Based Contact Center Consumption by Application 2016-2021
5.1.2 Global Cloud-Based Contact Center Market Value by Application 2016-2021
5.2 Global Cloud-Based Contact Center Market Consumption, Value and Growth Rate by Application 2016-2021
5.2.1 BFSI Market Consumption, Value and Growth Rate
5.2.2 Consumer Goods and Retail Market Consumption, Value and Growth Rate
5.2.3 Government and Public Sector Market Consumption, Value and Growth Rate
5.2.4 Healthcare and Life Sciences Market Consumption, Value and Growth Rate
5.2.5 Others Market Consumption, Value and Growth Rate
5.3 Global Cloud-Based Contact Center Consumption and Value Forecast by Application
5.3.1 Global Cloud-Based Contact Center Consumption Forecast by Application 2022-2030
5.3.2 Global Cloud-Based Contact Center Market Value Forecast by Application 2022-2030
5.4 Global Cloud-Based Contact Center Market Consumption, Value and Growth Rate by Application Forecast 2022-2030
5.4.1 BFSI Market Consumption, Value and Growth Rate Forecast
5.4.2 Consumer Goods and Retail Market Consumption, Value and Growth Rate Forecast
5.4.3 Government and Public Sector Market Consumption, Value and Growth Rate Forecast
5.4.4 Healthcare and Life Sciences Market Consumption, Value and Growth Rate Forecast
5.4.5 Others Market Consumption, Value and Growth Rate Forecast
6 Global Cloud-Based Contact Center by Region, Historical Data and Market Forecasts
6.1 Global Cloud-Based Contact Center Sales by Region 2016-2021
6.2 Global Cloud-Based Contact Center Market Value by Region 2016-2021
6.3 Global Cloud-Based Contact Center Market Sales, Value and Growth Rate by Region 2016-2021
6.3.1 North America
6.3.2 Europe
6.3.3 Asia Pacific
6.3.4 South America
6.3.5 Middle East and Africa
6.4 Global Cloud-Based Contact Center Sales Forecast by Region 2022-2030
6.5 Global Cloud-Based Contact Center Market Value Forecast by Region 2022-2030
6.6 Global Cloud-Based Contact Center Market Sales, Value and Growth Rate Forecast by Region 2022-2030
6.6.1 North America
6.6.2 Europe
6.6.3 Asia Pacific
6.6.4 South America
6.6.5 Middle East and Africa
7 United State Market Size Analysis 2016-2030
7.1 United State Cloud-Based Contact Center Value and Market Growth 2016-2021
7.2 United State Cloud-Based Contact Center Sales and Market Growth 2016-2021
7.3 United State Cloud-Based Contact Center Market Value Forecast 2022-2030
8 Canada Market Size Analysis 2016-2030
8.1 Canada Cloud-Based Contact Center Value and Market Growth 2016-2021
8.2 Canada Cloud-Based Contact Center Sales and Market Growth 2016-2021
8.3 Canada Cloud-Based Contact Center Market Value Forecast 2022-2030
9 Germany Market Size Analysis 2016-2030
9.1 Germany Cloud-Based Contact Center Value and Market Growth 2016-2021
9.2 Germany Cloud-Based Contact Center Sales and Market Growth 2016-2021
9.3 Germany Cloud-Based Contact Center Market Value Forecast 2022-2030
10 UK Market Size Analysis 2016-2030
10.1 UK Cloud-Based Contact Center Value and Market Growth 2016-2021
10.2 UK Cloud-Based Contact Center Sales and Market Growth 2016-2021
10.3 UK Cloud-Based Contact Center Market Value Forecast 2022-2030
11 France Market Size Analysis 2016-2030
11.1 France Cloud-Based Contact Center Value and Market Growth 2016-2021
11.2 France Cloud-Based Contact Center Sales and Market Growth 2016-2021
11.3 France Cloud-Based Contact Center Market Value Forecast 2022-2030
12 Italy Market Size Analysis 2016-2030
12.1 Italy Cloud-Based Contact Center Value and Market Growth 2016-2021
12.2 Italy Cloud-Based Contact Center Sales and Market Growth 2016-2021
12.3 Italy Cloud-Based Contact Center Market Value Forecast 2022-2030
13 Spain Market Size Analysis 2016-2030
13.1 Spain Cloud-Based Contact Center Value and Market Growth 2016-2021
13.2 Spain Cloud-Based Contact Center Sales and Market Growth 2016-2021
13.3 Spain Cloud-Based Contact Center Market Value Forecast 2022-2030
14 Russia Market Size Analysis 2016-2030
14.1 Russia Cloud-Based Contact Center Value and Market Growth 2016-2021
14.2 Russia Cloud-Based Contact Center Sales and Market Growth 2016-2021
14.3 Russia Cloud-Based Contact Center Market Value Forecast 2022-2030
15 China Market Size Analysis 2016-2030
15.1 China Cloud-Based Contact Center Value and Market Growth 2016-2021
15.2 China Cloud-Based Contact Center Sales and Market Growth 2016-2021
15.3 China Cloud-Based Contact Center Market Value Forecast 2022-2030
16 Japan Market Size Analysis 2016-2030
16.1 Japan Cloud-Based Contact Center Value and Market Growth 2016-2021
16.2 Japan Cloud-Based Contact Center Sales and Market Growth 2016-2021
16.3 Japan Cloud-Based Contact Center Market Value Forecast 2022-2030
17 South Korea Market Size Analysis 2016-2030
17.1 South Korea Cloud-Based Contact Center Value and Market Growth 2016-2021
17.2 South Korea Cloud-Based Contact Center Sales and Market Growth 2016-2021
17.3 South Korea Cloud-Based Contact Center Market Value Forecast 2022-2030
18 Australia Market Size Analysis 2016-2030
18.1 Australia Cloud-Based Contact Center Value and Market Growth 2016-2021
18.2 Australia Cloud-Based Contact Center Sales and Market Growth 2016-2021
18.3 Australia Cloud-Based Contact Center Market Value Forecast 2022-2030
19 Thailand Market Size Analysis 2016-2030
19.1 Thailand Cloud-Based Contact Center Value and Market Growth 2016-2021
19.2 Thailand Cloud-Based Contact Center Sales and Market Growth 2016-2021
19.3 Thailand Cloud-Based Contact Center Market Value Forecast 2022-2030
20 Brazil Market Size Analysis 2016-2030
20.1 Brazil Cloud-Based Contact Center Value and Market Growth 2016-2021
20.2 Brazil Cloud-Based Contact Center Sales and Market Growth 2016-2021
20.3 Brazil Cloud-Based Contact Center Market Value Forecast 2022-2030
21 Argentina Market Size Analysis 2016-2030
21.1 Argentina Cloud-Based Contact Center Value and Market Growth 2016-2021
21.2 Argentina Cloud-Based Contact Center Sales and Market Growth 2016-2021
21.3 Argentina Cloud-Based Contact Center Market Value Forecast 2022-2030
22 Chile Market Size Analysis 2016-2030
22.1 Chile Cloud-Based Contact Center Value and Market Growth 2016-2021
22.2 Chile Cloud-Based Contact Center Sales and Market Growth 2016-2021
22.3 Chile Cloud-Based Contact Center Market Value Forecast 2022-2030
23 South Africa Market Size Analysis 2016-2030
23.1 South Africa Cloud-Based Contact Center Value and Market Growth 2016-2021
23.2 South Africa Cloud-Based Contact Center Sales and Market Growth 2016-2021
23.3 South Africa Cloud-Based Contact Center Market Value Forecast 2022-2030
24 Egypt Market Size Analysis 2016-2030
24.1 Egypt Cloud-Based Contact Center Value and Market Growth 2016-2021
24.2 Egypt Cloud-Based Contact Center Sales and Market Growth 2016-2021
24.3 Egypt Cloud-Based Contact Center Market Value Forecast 2022-2030
25 UAE Market Size Analysis 2016-2030
25.1 UAE Cloud-Based Contact Center Value and Market Growth 2016-2021
25.2 UAE Cloud-Based Contact Center Sales and Market Growth 2016-2021
25.3 UAE Cloud-Based Contact Center Market Value Forecast 2022-2030
26 Saudi Arabia Market Size Analysis 2016-2030
26.1 Saudi Arabia Cloud-Based Contact Center Value and Market Growth 2016-2021
26.2 Saudi Arabia Cloud-Based Contact Center Sales and Market Growth 2016-2021
26.3 Saudi Arabia Cloud-Based Contact Center Market Value Forecast 2022-2030
27 Market Dynamic Analysis and Development Suggestions
27.1 Market Drivers
27.2 Market Development Constraints
27.3 PEST Analysis
27.3.1 Political Factors
27.3.2 Economic Factors
27.3.3 Social Factors
27.3.4 Technological Factors
27.4 Industry Trends Under COVID-19
27.4.1 Risk Assessment on COVID-19
27.4.2 Assessment of the Overall Impact of COVID-19 on the Industry
27.4.3 Pre COVID-19 and Post COVID-19 Market Scenario
27.5 Market Entry Strategy Analysis
27.5.1 Market Definition
27.5.2 Client
27.5.3 Distribution Model
27.5.4 Product Messaging and Positioning
27.5.5 Price
27.6 Advice on Entering the Market
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Case Study- Automotive Sector
One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached Straits Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
Solution
The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research
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Market Estimates and Forecast
In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.
Case Study- ICT Sector
Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.
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Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2028.
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