03-14-2019 08:54 PM CET - IT, New Media & Software

Cloud-based Contact Center Market is expected to reach USD 26.69 billion by 2023 at a CAGR of 24.49%, over the forecast period (2018-2023)| Top Vendors - ORACLE CORPORATION, CISCO SYSTEMS, INC., 3CLOGIC INC., CONNECT FIRST INC., FIVE9 INC., amongst others

Press release from: Market Prognosis

Market Analysis:

North America is the Major Contributor to the Market
The North American market has been the focus for cloud-based contact center companies. The United States is the major contributor to the North American market, due to early adoption and huge investment in cloud-based services and solutions.

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The cloud-based contact center is a deployment model that enables organizations to build their contact center in third-party or remote data centers. It enables scalability, flexibility, and business agility for contact centers, while saving major costs over the long term. With the advent of globalization, many organizations are looking for a cost-effective approach to aid their business expansion and penetration. This can be achieved through cloud-based services, which do not require any distinct and high expenditure installations, thus favoring the adoption of the technology. Increased business agility, scalability, faster deployment models, better agent productivity, and better customer experience are driving the demand for cloud-based services and solutions. Cloud-based contact centers are seeing growing adoption in the IT & telecom industry. The telecom industry currently serves all other industries in the market.

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Market Segments:
Cloud-based Contact Center Market is segmented by:
1. Solutions: Automatic Call Distribution, Agent Performance Optimization, Dialers, Interactive Voice Response, Computer Telephony Integration, Analytics and Reporting
2. Services: Managed Services, Professional Services
3. Deployment Type: On-premise, Cloud
4. End User: BFSI, IT and Telecom, Media and Entertainment, Retail and Consumer, Logistics and Transport, Healthcare, Others
5. Geography: North America, South America, Europe, Asia Pacific, Middle East & Africa

Key Developments in the Market
•October 2017 - Oracle launched an autonomous cloud database capable of patching cyber security weaknesses on its own accord. Oracle Autonomous Database Cloud uses machine learning to eliminate human maintenance and error, offering self-driving, self-scaling, and self-repairing database functions.

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About Market Prognosis
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This release was published on openPR.
News-ID: 1655424 • Views: 221
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