Cloud-Based Contact Center Market 2019 Global Key Players: NICE Ltd, 8x8 Inc, Five9, Cisco Systems, Genesys, Oracle Corporation, NewVoiceMedia

Market Scenario:
The global cloud-based contact center market is presumed to garner USD 24.11 billion during the forecast period (2018-2023). The global market is anticipated to register 25% CAGR owing to the increasing rate of innovation, asserts Market Research Future (MRFR). Contract centers can be defined as facilities that manage client’s contacts with the help of several mediums like e-mail, letter, telephone, fax, and online live chat.

Contact center is a synchronized system of people, technologies, strategies, and processes that offer access to resources, expertise, and data through suitable channels of communication. Such communication channels enable interaction among the business departments that creates value for organizations and customers. Companies across the world are looking for cost-effective approaches with cloud-based partners in order to optimize the effectiveness of their contact center systems and its applications. The advent of cloud computing in the contact center market is renovating the mature contact center technology sector across the globe.

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Competitive Dashboard
The prominent players operating the global cloud-based contact center market are Extreme Networks, NewVoiceMedia (UK), inContact Inc. (US), NICE Ltd. (Israel), 8x8 Inc. (US), Five9 (US), Liveops Inc. (US), Interlink Network Systems (US), Cisco Systems (US), Oracle Corporation (US), Aspect Software (US), 3CLogic (US), CCT Solutions (US), Genesys (US), KM2 Solutions (US), Connect First (US), Accurate Always Inc.(US), and Servion Global Solutions (India).

Drivers and Constraints Impacting the Market:
The growing rate of innovation in this market is stimulating the rate of adoption of cloud-based contact centers globally. Vendors of cloud-based contact center infrastructure across the world are investing in research and development activities in order to get into a competitive edge. The cloud model has further experienced an exceptional growth and demand in the contact center market in the recent past. The global Cloud-Based Contact Center Market is estimated to experience a significant growth due to increasing areas of applications, which will further necessitate all the contact centers to shift some of their functionalities to the cloud in the coming years.

Pay-per-use subscription pricing model and cloud compliance requirements for the end-users are further anticipated to accelerate the cloud-based contact center market during the assessment period. Moreover, growing interest of the global players towards investment in the market coupled with the improved customer experience are the some of the prime opportunities leading to the growth of the cloud-based contact center market.

On the flip side, risk of information loss coupled with the lack of awareness about cloud-based contact centers in some of the economically developing regions are some of the major concerns presumed to dampen the cloud-based contact center market during the forecast period.

Cloud-Based Contact Center Market: Segmental Analysis:
The global cloud-based contact center market has been segmented on the basis of solution, services, organization size, deployment model, vertical, and region.
• By mode of solution, the global cloud-based contact center market has been segmented into agent performance optimization, automatic call distribution, interactive voice response, dialers, reporting and analytics, computer telephony integration, security, and others.
• By mode of services, the global cloud-based contact center market has been segmented into managed service and professional service.
• By mode of organization size, the global cloud-based contact center market has been segmented into large enterprise and SME.
• By mode of deployment model, the global cloud-based contact center market has been segmented into private cloud, public cloud, and hybrid cloud.
• By mode of vertical, the global cloud-based contact center market has been segmented into retail, BFSI, healthcare & life sciences, government & public sector, media & entertainment, manufacturing, IT & telecommunication, and others. Among these, the IT & telecom sector is considered to occupy the largest market share. With advancements in technology coupled with the growing adoption of modern connectivity systems, the demand for communication services in retail, automotive, government services, energy and power, IT sector, and other industries employing the technology, has seen an incremental growth in the past few years.

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Regional Insights:
Geographically, the cloud-based contact center market span across regions namely, Europe, North America, Asia-Pacific, and the Rest-of-the-World.

Among all the regions, the North American region is considered to dominate the global cloud-based contact center market. The growth is attributed to the presence of major vendors coupled with the rising adoption of associated services in this region.

The Asia-Pacific region is anticipated to expand at a faster rate owing to the growing recognition of cloud-based solutions coupled with the adoption and growth of promising technologies such as the Internet of Things. The European region is predicted to expand at a stable rate owing to the presence of huge car manufacturing sector along with healthcare industries.

Industry Updates:
December 26, 2018: Transcosmos has recently launched the Cloud Contact Center Services powered by Amazon Connect. The company has developed a next-gen contact center services, a cloud-based contact center service by Amazon Web Services. The service has been integrated with speech recognition system IVR, other AWS AI-powered services, and intelligent conversational bots.

Intended Audience:
• Cloud vendors
• Application design and development service providers
• System integrators/migration service providers
• Consultancy firms/advisory firms
• Training and education service providers
• Data integration service providers
• Managed service providers
• Data quality service providers

Table of Contents
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.2.1 Research objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
Continued…

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List of Tables
Table1 Global Cloud-Based Contact Center Market, By Region, 2018–2023
Table2 North America: Cloud-Based Contact Center Market, By Country, 2018–2023
Table3 Europe: Cloud-Based Contact Center Market, By Country, 2018–2023
Continued…

List of Figures
Figure 1 Global Cloud-Based Contact Center Market Segmentation
Figure 2 Research Methodology
Figure 3 Porter’s Five Forces Analysis of Global Cloud-Based Contact Center Market
Continued…

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This release was published on openPR.