Cloud-Based Contact Center Market - Global Forecast to 2022
DUBLIN, April 19, 2018 /PRNewswire/ --
The "Cloud-Based Contact Center Market by Solution (ACD, APO, Dialers, IVR, CTI, Reporting and Analytics, and Security), Service (Professional and Managed), Application, Deployment Model, Organization Size, Vertical, and Region - Global Forecast to 2022" report has been added to ResearchAndMarkets.com's offering.
The global cloud-based contact center market is expected to grow from USD 6.80 Billion in 2017 to USD 20.93 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 25.2% during the forecast period.
Cloud-based contact center solutions enable several companies to utilize contact center providers' offerings on the cloud. These solutions streamline the process of providing modernized, up-to-date services to customers and personalize these services to meet their preferences and demands for providing the advantages of minimal capital investment; 24/7 technical support; and high levels of reliability, security, and scalability.
Moreover, these solutions are expected to witness a rise in demand as they are finding utility in improving the customer experience from industries, such as Banking, Financial Services, and Insurance (BFSI), telecommunications and Information Technology Enabled Services (ITES), and healthcare and life sciences.
This report provides detailed insights into the cloud-based contact center market, split across various regions, segments, and industries. The market has been segmented on the basis of components into solutions and services. The solutions considered for the market include Automatic Call Distribution (ACD), Agent Performance Optimization (APO), dialers, Interactive Voice Response (IVR), Computer Telephony Integration (CTI), reporting and analytics, security, and others (issue tracking solution, omni-channel solution, and mobile care solution).
The services considered for the cloud-based contact center market include professional services and managed services. The deployment model for the market consists of public cloud, private cloud, and hybrid cloud. The applications include call routing and queuing, data integration and recording, chat quality and monitoring, real-time decision-making, and workforce optimization.
The market has been segmented on the basis of organization sizes into Small and Medium-sized Enterprises (SMEs) and large enterprises. The large enterprises segment is expected to have the larger market size due to high demand for enhanced cloud-based contact center systems that help in enhancing customer experience. The advantages, such as pay-per-use subscription model, better scalability, and improved flexibility are expected to create significant demand for cloud-based contact center solutions and fuel the growth of the market.
Cloud Based Contact Center Market
The report covers all the major aspects of the cloud-based contact center market and provides an in-depth analysis across the regions of North America, EuropeAsia Pacific (APAC), Middle East and Africa (MEA), and Latin America. The market in North America is expected to have the largest market share due to the presence of major vendors and increase in adoption of associated services. The APAC region is expected to provide several opportunities in the market and is projected to grow at the highest CAGR during the forecast period.
However, lack of awareness and risk of information loss are expected to restrain the market growth. Various vendors provide cloud-based contact center solutions to help enterprises reduce their Capital Expenditure (CAPEX).
NICE Ltd. is one of the major vendors that offer cloud-based contact center solutions. It offers solutions for workforce automation, contact center compliance, and omnichannel interaction recording.
Other vendors in the cloud-based contact center market include 8x8 Inc. (US), Five9 (US), Cisco Systems (US), Genesys (US), Oracle (US), NewVoiceMedia (UK), Connect First (US), Aspect Software (US), and 3CLogic (US). These market players have adopted various strategies, such as partnerships, collaborations, and expansions, to remain competitive in the market
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights 4.1 Attractive Market Opportunities in the Cloud-Based Contact Center Market 4.2 Cloud-Based Contact Center Market, Top 3 Verticals and Regions 4.3 Market Investment Scenario
5 Market Overview and Industry Trends 5.1 Introduction 5.2 Market Dynamics 5.2.1 Drivers 5.2.1.1 Pay-Per-Use Subscription Model for Charging End-Users 5.2.1.2 Faster Deployment, Better Scalability, and Improved Flexibility 5.2.1.3 Improved Business Continuity 5.2.1.4 Cloud Compliance Requirements 5.2.1.5 Improved Integration and Usability 5.2.1.6 Increasing Demand in SMEs for Cloud-Based Contact Center Services 5.2.2 Restraints 5.2.2.1 Risk of Information Loss 5.2.2.2 Lack of Awareness About Cloud-Based Contact Centers in Some Regions 5.2.2.3 On-Premises Contact Center Technology Covers A Large Portion of the Current Contact Center Market 5.2.3 Opportunities 5.2.3.1 Improved Customer Experience 5.2.3.2 Increasing Numbers of Enterprises are Harnessing the Benefits of Cloud-Based Contact Centers 5.2.3.3 Rising Interest of the Major Market Vendors 5.2.4 Challenges 5.2.4.1 Maintaining Integration Levels 5.2.4.2 Poor It Infrastructure for Cloud-Based Contact Center Adoption 5.3 Technology Trends and Standards 5.3.1 Introduction 5.3.2 Standards and Guidelines for the Cloud-Based Contact Center Market 5.3.2.1 Service Organization Control (SOC) 2 5.3.2.2 Sarbanes-Oxley Act (SOX) 5.3.2.3 Gramm-Leach-Bliley Act (GLBA) 5.3.2.4 Health Insurance Portability and Accountability Act (HIPAA) 5.3.2.5 National Institute of Standards and Technology (NIST) Cybersecurity Framework (CSF) 5.3.2.6 Cloud Security Alliance (CSA) Cloud Controls Matrix (CCM) 5.3.2.7 Payment Card Industry Data Security Standard (PCI DSS) 5.3.2.8 Federal Information Security Management Act (FISMA) 5.4 Cloud-Based Contact Center Market: Value Chain Analysis 5.5 Market Ecosystem
6 Cloud-Based Contact Center Market, By Solution 6.1 Introduction 6.2 Automatic Call Distribution 6.3 Agent Performance Optimization 6.4 Dialers 6.5 Interactive Voice Response 6.6 Computer Telephony Integration 6.7 Reporting and Analytics 6.8 Security 6.9 Others
7 Cloud-Based Contact Center Market, By Service 7.1 Introduction 7.2 Professional Services 7.3 Managed Services
8 Cloud-Based Contact Center Market, By Application 8.1 Introduction 8.2 Call Routing and Queuing 8.3 Data Integration and Recording 8.4 Chat Quality and Monitoring 8.5 Real-Time Decision Making 8.6 Workforce Optimization
9 Cloud-Based Contact Center Market, By Deployment Model 9.1 Introduction 9.2 Public Cloud 9.3 Private Cloud 9.4 Hybrid Cloud
10 Cloud-Based Contact Center Market, By Organization Size 10.1 Introduction 10.2 Large Enterprises 10.3 Small and Medium-Sized Enterprises
11 Cloud-Based Contact Center Market, By Vertical 11.1 Introduction 11.2 Banking, Financial Services, and Insurance 11.3 Consumer Goods and Retail 11.4 Government and Public Sector 11.5 Healthcare and Life Sciences 11.6 Manufacturing 11.7 Media and Entertainment 11.8 Telecommunication and Ites 11.9 Others
12 Cloud-Based Contact Center Market, By Region
13 Competitive Landscape 13.1 Overview 13.1.1 Market Ranking 13.1.2 New Product/Technology Launches 13.1.3 Partnerships, Agreements, and Collaborations 13.1.4 Mergers and Acquisitions
14 Company Profiles 14.1 Introduction 14.2 8x8, Inc. 14.3 Five9 14.4 Cisco Systems 14.5 Genesys 14.6 Oracle 14.7 Newvoicemedia 14.8 Connect First 14.9 Aspect Software 14.10 Nice Ltd. 14.11 3clogic 14.12 Key Innovators 14.12.1 Bt Group 14.12.2 West Corporation 14.12.3 Liveops 14.12.4 Mitel Networks Corporation 14.12.5 Ozonetel Systems Pvt. Ltd 14.12.6 Evolve IP, LLC.
For more information about this report visit https://www.researchandmarkets.com/research/z3zsgs/cloudbased?w=5
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