Cloud-based Contact Center Market Size, Share & Forecast

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Cloud Based Contact Center Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $58.91 billion In 2028 At A CAGR Of 21.6% :

The cloud based contact center market size has grown rapidly in recent years. It will grow from $22.63 billion in 2023 to $26.91 billion in 2024 at a compound annual growth rate (CAGR) of 18.9%. The growth in the historic period can be attributed to cost efficiency and scalability, customer experience enhancement, disaster recovery and business continuity, compliance and security measures, agility and rapid deployment..

The cloud based contact center market size is expected to see exponential growth in the next few years. It will grow to $58.91 billion in 2028 at a compound annual growth rate (CAGR) of 21.6%. The growth in the forecast period can be attributed to demand for multichannel communication, increased focus on compliance management, predictive analytics for customer insights, enhanced self-service options, real-time analytics for decision-making. Major trends in the forecast period include rapid adoption of cloud-based solutions, omnichannel communication, analytics and business intelligenceenhanced security and compliance features, edge computing for low latency, integration with crm and business applications..

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Cloud Based Contact Center Market Major Segments
The cloud based contact center market covered in this report is segmented -

1) By Type: Automatic Call Distribution, Agent Performance Optimization, Dialers, Interactive Voice Response, Computer Telephony Integration, Analytics And Reporting
2) By Component: Solution, Services
3) By Deployment: Public, Private, Hybrid
4) By Application: Call Routing And Queuing, Data Integration And Recording, Chat Quality And Monitoring, Real-Time Decision Making, Workforce Optimization
5) By End-User: Banking, Financial Services and Insurance (BFSI), IT And Telecom, Media And Entertainment, Retail, Logistics And Transport, Healthcare, Other End Users

Key Driver - Cloud-Based Call Centers Transforming The Contact Center Market

The rising adoption of cloud based call centers is projected to drive the growth of the cloud based contact center market in the coming years. A network-based service in which a provider owns, and controls contact center technology is known as cloud-based call centers. Cloud based call centers provide innovative solutions to address company issues and remote services to enterprises on a subscription basis. For instance, in April 2021, according to a report published by 8x8 Inc. a US-based provider of Voice over IP products, 75% of contact centers are currently working in the cloud (44% fully, 31% hybrid), making them the majority of contact centers nowadays. Therefore, the rising adoption of cloud based call centers fuels the cloud based contact center market growth .

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Prominent Trend - Technological Advancements Reshaping The Cloud-Based Call Center Market

The growing technological advancements are shaping the cloud based call center market. Major companies operating in the cloud based call center sector are focused on developing technological solutions for cloud based call centers to strengthen their position in the industry. For instance, in October 2022, Duo World Inc., a US-based information technology launched Dialdesk. This is a platform with phone, chat, social media feeds, and integrations with numerous third-party apps that can manage omni-channel communication and autoscale. As a SaaS solution, Dialdesk requires little training for users to become proficient in using the application. Regardless of whether they are new to the product or are switching from another system, Dialdesk offers an easy-to-use drag-and-drop user interface for constructing IVR/call flows .

Cloud Based Contact Center Market Players
Major companies operating in the cloud based contact center market report are Genesys Telecommunications Laboratories Inc., 3CLogic Inc., Avaya Contact Center (Avaya Group), Connect First Inc., Five9 Inc., 8x8 Inc., Aspect Software, RingCentral Inc., NICE Systems Ltd., Ameyo Pvt. Ltd., Aircall SAS, Amazon Web Services Inc., Vocalcom Group, Talkdesk Inc., Vonage, Serenova LLC, Content Guru Inc., Evolve IP, TCN Inc., Tata Consultancy Services Limited, Worldline, Cisco Systems Inc., Sharpen Technologies, Bright Pattern Inc., Liveops, Mitel Networks Corporation, Enghouse Interactive Inc., Noble Systems Corporation, Alcatel-Lucent Enterprise, Altitude Xperience

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Largest And Fastest Growing Region In The Market
North America was the largest region in the cloud based contact center market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cloud based contact center market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Cloud Based Contact Center Market Report Structure
3. Cloud Based Contact Center Market Trends And Strategies
4. Cloud Based Contact Center Market - Macro Economic Scenario
5. Cloud Based Contact Center Market Size And Growth
…..
27. Cloud Based Contact Center Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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