Cloud Based Contact Center Market Size, Share, Trends, Growth and Forecast 2032

Cloud Based Contact Center Market Insights

Zion Market Research has published a report on the global Cloud Based Contact Center Market, estimating its value at USD 25.15 Billion in 2023, with projections indicating that it will reach USD 145 Billion by 2032. The market is expected to expand at a compound annual growth rate (CAGR) of 21.49% over the forecast period 2024-2032.

The report explores the factors fueling market growth, the hitches that could hamper this expansion, and the opportunities that may arise in the Cloud Based Contact Center Market industry. Additionally, it offers a detailed analysis of how these elements will affect market demand dynamics and market performance throughout the forecast period.

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Global Cloud-Based Contact Center Market Size & Overview

A cloud-based contact center is a complete set of tools, applications, and cloud-hosted services for contact centers in establishments that require multiple communications channels, reliable call routing, agent management, and analytics. A cloud-based contact channel integrates multiple communications channels, uses automated services like auto-attendant and music-on-hold, features workforce management tools, provides supervisors access to high-level dashboards and detailed analytics, and is hosted in the cloud by a service provider. The market is primarily driven by the increasing adoption of cloud-based contact centers by various organizations due to the shifting focus of companies to work from home culture. Technological advancements like the integration of artificial intelligence (AI), analytics, and natural language processing (NLP) with cloud-based contact centers to improve existing solutions are anticipated to augment the growth of the market during the forecast period.

Growth Factors

The rising adoption of SMAC technologies is anticipated to augment the market over the next six years. SMAC technology is the concept where social, mobile, analytics, and cloud, these four technologies combine to drive business innovation and development. These technologies allow enterprises to increase the suppleness of their business operations and help corporations get closer to the customer with negligible overhead and maximum reach. Contact centers are focusing on developing quickly to move from primary models where operations are deployed in a single channel to multi-channel communication systems for handling customer relationship management. The contact centers are needed to handle all inbound and outbound customer communications for organizations. The organizations integrate their contact center solutions and operations with social media, mobile, analytics, and cloud (SMAC) technologies to achieve improved and better results. As a result, the demand for cloud-based contact centers for proficient management of operations remotely by various industries has increased.

The rise of multichannel communication solutions to enhance performance and provide an effective customer service experience is anticipated to augment the market growth over the forecast period. These solutions permit agents to communicate with customers or clients by phone call, over emails or messaging and maintain a constant record of all communications. The multichannel cloud contact center allows access from virtually anywhere, removing the need for physical infrastructure and at the same time meeting the current demands of customer communication preferences. Many companies are focusing on using these solutions to increase their throughput and augment their service offerings.

Cloud Based Contact Center Market: Report Scope

Component Segment Analysis Preview

The solutions segment held a maximum share in 2020. This is attributable to the increasing adoption of cloud-based solutions and services by various organizations to increase productivity and reduce the total cost of ownership. These solutions also increase business efficiency by outsourcing the complete contact center operations to cloud-based contact center solution providers. The increasing benefits and awareness among public and private organizations have increased the acceptance of cloud-based solutions which is the major reason to augment the cloud-based contact center market. Furthermore, the accessibility of customized cloud-based contact center solutions at reduced prices with the addition of new options and capabilities is also anticipated to increase the growth of the solution segment of the market.

Industries Segment Analysis Preview

IT and ITeS industry segments accounted to held a substantial share in the years to come. This is attributable to the increasing adoption of these solutions by large enterprises. The cloud-based contact center provides numerous benefits to the organizations such as enabling greater agent versatility, improved agent efficiency, provides true scalability, reduced costs, and enhanced security, among others. As a result, many companies in the industry are widely adopting contact center software solutions to increase the efficiency of business management and its operations.

by Component (Solutions and Services),

by Deployment Model (Public Cloud and Private Cloud)

by Organization Size (Small and Medium-sized Enterprises (SMEs) and Large Enterprises),

by Industries (BFSI, IT and ITeS, Telecommunications, Healthcare and Life Sciences, Government and Public Sector, Retail and Consumer Goods, Manufacturing, Energy and Utilities, Media and Entertainment, and Others)

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Regional Analysis Preview

The North America region held a share of 38% in 2020. This is attributable to the increasing internet penetration and acceptance of cloud-based services from remote infrastructure for remote operations at a reduced cost. Furthermore, the presence of major companies providing cloud-based solutions is anticipated to increase the market growth in the region. Moreover, the increasing usage of cloud-based solutions by various sectors is expected to generate huge demand for the market in this region.

The Asia Pacific region is projected to grow at a CAGR of 26.4% over the forecast period. This surge is due to the increasing adoption of cloud-based contact centers by large and small and medium enterprises in the Asia pacific region. The market is also driven by the increasing number of data center business, startups, and customers’ adoption of new technologies in the region. Additionally, increasing investments of organizations from various industrial and business operations are expected to open new avenues for the cloud-based contact center market over the coming years.

Key Market Players & Competitive Landscape

Some of the key players in the cloud-based contact center market are

• NICE
• Genesys
• Five9
• Vonage
• Talkdesk
• Cisco
• Avaya
• Serenova
• Content Guru
• Aspect Software
• RingCentral

In Dec 2020 Five9, Inc. announced its strategic partnership with Conn3ct, a leading customer experience, unified communications, and network services communications provider for international businesses to expand its global presence. This new strategic partnership between Five9 and Conn3ct was done to help stabilize, enhance and transform global cloud contact centers.

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The global cloud-based contact center market is segmented as follows:

By Component

• Solutions
• Services

By Deployment Model

• Public Cloud
• Private Cloud

By Organization Size

• Small and Medium-sized Enterprises (SMEs)
• Large Enterprises

By Industries

• BFSI
• IT and ITeS
• Telecommunications
• Healthcare and Life Sciences
• Government and Public Sector
• Retail and Consumer Goods
• Manufacturing
• Media and Entertainment
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa