Cloud-Based Contact Center Market Overview:

A cloud-based contact center is a communication hub that uses call center technology hosted in the cloud . It handles all types of inbound and outbound customer communications for a company , including phone calls, email, chat, and social media messages. With a cloud-based contact center, businesses can easily manage customer interactions, route calls to the right agent, and track customer service metrics. Some popular cloud-based contact center solutions include Five9, Genesys Cloud CX, and Amazon Connect.

The contact center market was estimated at USD 20.7 billion in 2022. By 2030, the market for cloud-based contact centres is anticipated to have grown from USD 25.6 billion in 2023 to USD 101.1 billion, with a compound annual growth rate (CAGR) of 21.7%. (2023 - 2030). This global market is expected to benefit from cloud compliance requirements and various pay-per-use subscription model for end-users. At the same time, improved customer experience and the rising shift towards cost-effective measures are expected to influence the market expansion in the coming years.

However, the market has a chance to get haunted by risks of data loss and theft, and lack of awareness related to its benefits.

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Segmentation:

The global cloud-based contact center market has been studied by MRFR analysts on the basis of solution, services, organization size, deployment, and vertical.

By solution, the cloud-based contact center market includes a study of agent performance optimization, automatic call distribution, interactive voice response, computer telephony integration, dialers, security, reporting and analytics, and others.

By services, the market includes a study of professional service and managed service.

By organization size, the report studies segments like large enterprise and SME.

By deployment model, the market provides an outline of private cloud, public cloud, hybrid cloud.

By vertical, the study comprises retail, government & public sector, BFSI, manufacturing, media & entertainment, IT & telecommunication, healthcare & life sciences, others.

Regional Analysis:

The North American market has a substantial chance to lead the way as it is getting backed by infrastructural superiority, easy investment options, and the presence of top-class players.

Competitive Landscape:

The global market report containing details of the cloud-based contact center market trends reveals a study of companies like Five9 (US), Cisco Systems (US), NICE Ltd. (Israel), 8x8 Inc. (US), NewVoiceMedia (UK), Genesys (US), Oracle Corporation (US), Aspect Software (US), Connect First (US), inContact, Inc.(US), Extreme Networks (US), Liveops, Inc. (US), Interlink Network Systems (US), 3CLogic (US), Accurate Always, Inc.(US), Servion Global Solutions (India), KM2 Solutions (US), and CCT Solutions (US).

Industry News:

In September 2020, Maintel announced the launching of Callmedia CX Now, a cloud-based solution, which aims to connect the right needs with the right contact centre agent, every time. This will allow businesses to deliver effective omnichannel customer service and enhance the customer experience.

Customers prefer contacting companies on their choice of channel and that can be webchat, phone, SMS, or email. Callmedia CX Now has designed their system in such a way that everything can be integrated in it and can be used in a seamless fashion to sync different mediums. This will help businesses to connect a The system is simple and increases company’s productivity. This also arms with all the real-time data to provide support to customer’s queries and allow managers to view all the metrics so that they can optimise the contact centre.

In September 2020, CommunityWFM, a company known for being a leading workforce management (WFM) software vendor, declared about their decision to partner with Smartz Solutions. CommunityWFM has proven its credibility as a unified, cloud-based workforce management solutions and in it, it got backing from its Essentials™ and Enterprise™ WFM products. Smartz Solutions helps contact centers to take care of the total customer experience using its Smartz Communications.

During the COVID-19 crisis, countries have witnessed a steep rise in queries and also a demand for effective mediums that can curb the cost and handle situations from a remote location. This would set the premise for the market to explore opportunities further.

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Key players:

The prominent players in cloud-based contact center market are NICE Ltd. (Israel), 8x8 Inc. (US), Five9 (US), Cisco Systems (US), Genesys (US), Oracle Corporation (US), NewVoiceMedia (UK), Connect First (US), Aspect Software (US), and Extreme Networks among others.

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