Cloud-Based Contact Center Market 2019 SWOT Analysis - Genesys, NICE Systems Ltd., NewVoiceMedia, RingCentral, Inc., Aspect Software

Global Cloud-Based Contact Center Market – Industry Trends and Forecast to 2026

Global Cloud-Based Contact Center Market report offers remarkable data along with future forecasts and thorough analysis of the market on an international and regional level. Some of the data models employed for the research methodology are vendor positioning grid, market timeline analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, top to bottom analysis and vendor share analysis. This market report studies the trends in consumer and supply chain dynamics that have been observed to be helpful in developing production strategies for the ICT industry. The Cloud-Based Contact Center Market report covers market shares for Global, North America, South America, Europe, Asia-Pacific, Middle East and Africa.

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Global Cloud-Based Contact Center Market is expected to rise from its initial estimated value of USD 9.39 billion in 2018 to an estimated value of USD 52.51 billion by 2026, registering a CAGR of 24% in the forecast period of 2019-2026. This rise in market value can be increasing demand in smes for cloud-based contact center services.

Market Definition:

The cloud-based contact center plays a vital role in the contact center technology sector. The interaction in cloud contact is made through voice, email, social media and the web-accessible from virtually anywhere. It has its wide application in banking, financial services, and insurance (BFSI), consumer goods and retail, government and public sector, healthcare and life sciences, media and entertainment, manufacturing, telecommunication and ITES, and others. Faster deployment, scalability, and flexibility and cloud compliance requirements may act as the major driver in the growth of cloud-based contact center market. On the other hand, the high initial investment may hamper the market.

Some of the major competitors currently working in the cloud-based contact center market are

Oracle (US),
8x8, Inc. (US),
Five9, Inc. (US),
Cisco Systems (US),
Genesys (US),
NICE Systems Ltd. (Israel),
NewVoiceMedia (UK),
3CLogic.com. US),
RingCentral, Inc.,
Aspect Software (US),
Empirix (US),
InVision Software, Inc.,
Intelenet Global Services,
VitalPBX,
Aircall,
Arbeit Software. (USA),
3CX,
Atos SE (Germany),
Vocalcom (France),
Huawei Cloud and other.

Competitive Analysis:

Global cloud-based contact center market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of cloud-based contact center market for Global, Europe, North America, Asia-Pacific and South America.

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Segmentation: Global Cloud-Based Contact Center Market

By Solution

ACD
APO
Dialers
IVR
CTI
Reporting & Analytics
Security

By Service type

Professional Services
Managed Services

By Application

Call routing and queuing
Data integration and recording
Chat quality and monitoring
Real-time decision-making
Workforce Optimization (WFO)

By Organisation Size

Small and Medium-sized Enterprises (SMEs)
Large enterprises

By Deployment Model

Public cloud
Private cloud
Hybrid cloud

By Vertical

Banking, Financial Services, and Insurance (BFSI)
Consumer goods and retail
Government and public sector
Healthcare and life sciences
Manufacturing
Media and entertainment
Telecommunication and Information Technology Enabled Services (ITES)
Others
Transportation and logistics
Education)

By Geography

North America
South America
Europe
Asia-Pacific
Middle East and Africa

Key Developments in the Market:

In April 2019, Five9 leading provider of cloud contact center software was recognized as one of the 25 highest-rated public cloud computing companies to work for.

In February 2019, Vector Capital announced the successful completion of its acquisition of Aspect Software, Inc., after this acquisition company focused on looking forward to supporting management on the tremendous opportunity in the growing customer engagement and call center space.

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