Global Cloud-based Contact Center Market Overview
The key driver impacting the cloud-based contact center market is the rising adoption of cloud technology by enterprises, leading to high demand for cloud-based solutions globally. It is due to the increased accessibility of the cloud-based data anyplace, by the customer or multiple employees simultaneously. In call centers, a cloud-based model could provide more flexibility when scaling business operations. The BSA Global Cloud Computing Scorecard report estimations reveal In 2018, globally, over half of the enterprises had adopted cloud computing. During the period 2012 and 2015, cloud computing demand had reached 70% and is likely to stand for 60% of growth during 2020. Around 96% of companies have utilized at least one cloud software in the past two years. For instance, in UK Cloud Industry Forum (CIF) 2017 report reveals that the overall cloud adoption rate reached 88 percent, with 67 percent of users estimated to increase their adoption of cloud services over the coming year. The most commonly used cloud-services are those for traditional Webhosting (65%) and office productivity tools (50 percent). By 2020 three-quarters of respondents anticipate adopting cloud-based video-conferencing systems. The adoption for data backup/disaster recovery (63%) and customer contact center (57 %) are also expected to increase. Moreover, growing technological advancements have transformed how customers react and interact with the brands across numerous channels, thus contributing to market growth. For example, big data analytics's emergence helps the enterprise design, manage, and enhance their end-to-end consumer experience management.
According to Value Market Research, the global cloud-based contact center market size was valued at around USD 11000 million in 2020 and is estimated to grow at a CAGR of about 17.5% during the forecast period 2021 to 2027.
The growing adoption of SMAC technologies due to growing customer engagement through social media platforms and continuously increasing data traffic worldwide is estimated to augment cloud-based contact center demand in the forecast period. For instance, As per the World Economic form, the entire digital universe is estimated to reach 44 zettabytes in 2020. Predictably, 463 exabytes of data will be generated per day globally by 2025. Globally, 500 million tweets are sent, and over four petabytes of data are created on Facebook each day. The inadequate network bandwidth in the emerging economies may hamper the global cloud-based contact center market in the long run. Also, the cyber-attacks impacting business operations negatively impact the market. The current industry trends, such as the increasing implementation of AI, analytics, and NLP capabilities to add value in existing cloud-based contact centers and enhanced customer experience to raise cloud-based contact center adoption, are expected to provide market players with new market opportunities.
The cloud-based contact center market is vast, with many local and global players. The cloud-based contact center market is extensive, with many local and international players. The key leaders follow numerous strategies to increase their market position, such as extending product portfolio, contracts, amalgamation, expanding product portfolio, product advancement, and acquisitions to improve their market share across the globe. For instance, In May 2020, NICE inConnect, partnered with Zendesk to support contact centers in response to the changing customer demands. As per the partnership, both companies can utilize NICE inContact CXone home with Zendesk Support Suite and complimentary Zendesk Remote Support Bundle. The significant players studied in the report are Genesys, NICE, Vonage, Five9, Cisco, Talkdesk, 8x8, Avaya, Content Guru, Serenova, RingCentral, Aspect Software, 3CLogic, Enghouse Interactive, Ameyo, Vocalcom, Evolve IP, Twilio, Pypestream, Sentiment Machines, TechSee, AirCall, JustCall, Nubitel, NeoDove, Dialer360, Servetel, and Rulai.
In this research report, the cloud-based contact center market is segmented by component, deployment model, organization size, industries, and region.
Analysis by Component:
By component, the report is segmented into solutions and services. The solution segment dominates the analytical tools segment with a 40% share in 2020. The massive adoption of cloud-based solutions to decrease the total cost of ownership and advance business agility and productivity by outsourcing the complete contact center operations to cloud-based contact center vendors is majorly boosting the segment growth. Moreover, the availability of customized cloud-based contact center solutions at low prices possesses new capabilities, creating more demands for cloud-based solutions in the forecast period.
Analysis by Deployment Mode:
By deployment model, the report is segmented into a private cloud and a public cloud. The public cloud segment dominates the deployment mode segment with a 50% share in 2020. It is due to the growing demand and awareness among public organizations as it has increased the scalability and agility of operations. Moreover, public cloud technology is the most common type. It offers several advantages: lower costs, no maintenance, near-unlimited scalability, and high reliability, driving demand for the cloud-based deployment model in the forecast period.
Analysis by Organization Size:
By organization size, the report is segmented into small and medium-sized enterprises (SMEs) and large enterprises. The Large enterprise segment dominates the organization size segment with a 55% share in 2020. It is because large enterprises have an extensive corporate network and a considerable customer base and improving customer experience is the critical part of the company's vision. Moreover, better scalability, pay-per-use subscription model, improved flexibility, and personalized customer interactions driving demand from large enterprises in the forecast period.
Analysis by Industries:
By end-user, the report is categorized into BFSI, telecommunications, IT and ITeS, retail and consumer goods, government and public sector, manufacturing, energy and utilities, media and entertainment, healthcare and life sciences, and others. The IT and ITeS segment dominates the end-user segment with a 10% share in 2020. It is due to the Increasing adoption of advanced cloud-based call center software across the IT sector globally. Also, with the rise of communications APIs for contact centers building a cloud-based contact center with APIs is faster and easier. Moreover, A cloud-based contact center is a new alternative to on-premise contact centers utilizing the latest communications technology, thus contributing to the enormous demand from the IT and ITeS sector in the forecast period.
Analysis by Region:
In the regional outlook of the global cloud-based contact center market, the North America region dominates with a 20% market share during the forecast period. It is due to the growing adoption of cloud-based services in SMEs and large enterprises constant to reduce the investment in IT infrastructure. Moreover, the presence of advanced IT infrastructure and continuous technological advancement contribute to the market's growth across North America.
Market Segmentation covered in the Report:
By Component
By Deployment Model
- Public Cloud
- Private Cloud
By Organization Size
- Small and Medium-sized Enterprises (SMEs)
- Large Enterprises
By Industries
- BFSI
- Telecommunications
- IT and ITeS
- Government and Public Sector
- Retail and Consumer Goods
- Manufacturing
- Energy and Utilities
- Media and Entertainment
- Healthcare and Life Sciences
- Others (travel and hospitality, transportation and logistics, and education)
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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