Share on

Global Cloud-Based Contact Center Market Size, Share, Trends, COVID-19 Impact & Growth Forecast Report – Segmented By Solution (ACD, APO, Dialers, IVR, CTI, Reporting and Analytics, and Security), Service (Professional and Managed), Application, Deployment Model, Organization Size, Vertical, and Region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa) - Industry Analysis (2024 to 2029)

Published: March, 2023
ID: 8285
Pages: 170
Formats: report pdf report excel report power bi report ppt

Global Cloud-Based Contact Center Market Size (2024 to 2029)

The global cloud-based contact center market is expected to grow at a CAGR of 21.8% from 2024 to 2029 and the global market size is predicted to be worth USD 77.15 billion by 2029 from USD 28.78 billion in 2024.

Legacy contact centers employ antiquated technology that is unable to handle contemporary channels such as social media, mobile app discussions, or video. Cloud-based contact centers can assist businesses in meeting these demands. A business's focal point is a cloud-based contact center that is hosted by an internet server. It's in charge of all incoming and outgoing consumer communications. To interact or connect, you can use calls, emails, and social media. The cloud-based contact center is thought to be a quick, easy, and customizable choice. A cloud-based contact center can also measure real-time administration metrics with the use of a customized management interface.

Global Cloud-Based Contact Center Market Drivers:

Customer relationship management (CRM) contact centers are rapidly developing from primary models in which operations are delivered in a single channel to multi-channel, multi-function units. Contact centers in the modern era handle inbound and outbound calls, emails, web queries, and chats from all over the world. Organizations utilize robust Social Media, Mobile, Analytics and Cloud (SMAC) technology in their contact centers to obtain better results. By addressing evolving client preferences and the need for multi-channel consistency, these technologies help enterprises increase the agility of their business operations. Communication as a service, social media capabilities to handle social media queries, smartphone access to provide contact center agents with relevant real-time information, video enablement to engage in face-to-face video calls, virtual contact centers to reduce costs and complexities, and advanced analytics to analyze unstructured data are all capabilities that modern contact centers are focusing on.

Global Cloud-Based Contact Center Market Restraints:

In today's digital age, access to critical information has produced a slew of issues. Businesses that keep sensitive information have become a common target for cybercriminals, which is one of these difficulties. Contact centers are no exception, as they often handle a lot of sensitive consumer data. Contact centers collect and preserve a lot of information about their customers, which makes them a tempting target for cybercriminals.

Impact of COVID-19 on the global cloud-based contact center market:

Despite hostile conditions, the COVID-19 epidemic has had little influence on the growth of the contact center software market. To build a more agile approach to consumer engagement, businesses increasingly need to break free from outdated infrastructure. The precision and speed with which requests are addressed, on the other hand, has traditionally constituted customer interaction success. Furthermore, during the pandemic, the ongoing trend of working from home (WFH) encourages the use of contact center software to ensure business continuity and efficiency.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2023 to 2029

Base Year

2023

Forecast Period

2024 to 2029

CAGR

21.8%

Segments Covered

By Solution, Service, Application, Deployment Mode, Organization Size, Vertical and Region

Various Analyses Covered

Global, Regional and country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

Market Leaders Profiled

Cisco Systems, Genesys, Five9, New Voice Media, Oracle, 3clogic, Aspect Software, Nice Ltd, Connect First, Avaya, Vonage, Talkdesk and Others.

 

This research report on the global cloud-based contact center market has been segmented and sub-segmented based on solution, service, application, deployment mode, organization size, vertical and region.

Cloud-Based Contact Center Market - By Solution:

  • Automatic Call Distribution (ACD)
  • Agent Performance Optimization (APO)
  • Dialers
  • Interactive Voice Response (IVR)
  • Computer Telephony Integration (CTI)
  • Reporting and analytics
  • Security
  • Others (issue tracking, omnichannel, and mobile care solutions)

Based on the solution, the security segment is expected to lead the market in the forecast period owing to the presence of personal information that these systems use to serve customers, which are expected to witness an explosion of security intrusions and need to enhance security and active corporate vigilance to accomplish these security standards.

Cloud-Based Contact Center Market - By Service:

  • Professional Service
  • Managed Service

Based on service, a managed service is expected to lead the market in the forecast period. This is because the managed service focuses on the service quality and end-user experience while delivering speed, cost optimization, and quality of service.

Cloud-Based Contact Center Market - By Application:

  • Call Routing and Queuing
  • Data Integration and Recording
  • Chat Quality and Monitoring
  • Real-Time Decision-Making
  • Workforce Optimization (WFO)

Cloud-Based Contact Center Market- By Deployment Mode:

  • Public cloud
  • Private cloud
  • Hybrid cloud

Cloud-Based Contact Center Market - By Organization Size:

  • Small and Medium Enterprises (SMEs)
  • Large Enterprises

Cloud-Based Contact Center Market - 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, and education

Cloud-Based Contact Center Market - By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

The North American region held a 38% share of the global market in 2023. This is due to increased internet penetration and acceptance of cloud-based services from remote infrastructure, which allows for lower-cost remote operations. Furthermore, the presence of big cloud-based solution providers is projected to boost the region's market expansion. Furthermore, the increasing usage of cloud-based solutions across a variety of industries is expected to fuel robust demand in this region.

The Asia Pacific area is predicted to grow at a CAGR of 26.4% over the forecast period. The increased use of cloud-based contact centers by large, small, and medium organizations in the Asia Pacific region is responsible for this increase. The market is also being driven by the growing number of data center firms, startups, and clients in the region that are adopting new technologies. Additionally, higher spending from various industrial and corporate activities is expected to give new avenues for the cloud-based contact center market in the coming years.

The Europe Cloud-Based Contact Center Market is predicted to grow at a CAGR of 21% over the forecast period. Europe is home to some of the world's most well-known technology hubs, as well as a key driver and adopter of modern technology. Due to economic and regulatory concerns, several companies in the region have moved to the cloud and enabled employee mobility. Bulgaria, Poland, and Romania have all committed to upgrading their digital infrastructures, while Ukraine is on track to double its ICT R&D investment by 2020. The German contact center market is booming, and it's helping companies all around the world with their CRM needs in Europe and beyond. As a result of the adoption of cloud-based services in Germany, the United Kingdom, and Spain, the European market is expected to develop throughout the forecast period.

The LAMEA Cloud-Based Contact Center Market Size is estimated to grow at a 26.2% CAGR over the forecast period. During the study period, Brazil, which presently has the largest market share in the area, is likely to remain a significant market. Argentina's manufacturing market is expected to increase at a 28.8% compound annual growth rate (CAGR). The UAE market for telecom and information technology is expected to develop at a CAGR of 25.4%. At the same time, Nigeria will remain Africa's most dominant market.

KEY MARKET PLAYERS:

Cisco Systems, Genesys, Five9, New Voice Media, Oracle, 3clogic, Aspect Software, Nice Ltd, Connect First, Avaya, Vonage and Talkdesk are some of the notable companies in the global cloud-based contact center market.

RECENT HAPPENINGS IN THE MARKET:

  • 8x8, a leading integrated cloud communications platform supplier, announced today increased cloud connection and reliability capabilities in Canada, ensuring higher business resilience and data sovereignty compliance for Canadian organizations. Canadian companies may improve employee communications and customer interaction across a distributed workforce by using 8x8 XCaaSTM (eXperience Communications as a ServiceTM), which includes a fully integrated cloud contact center, phone, video meetings, team chat, and CPaaS APIs and embeddable apps.
  • Through an increased investment from partner Nuvola Distribution, Alcatel-Lucent Enterprise (ALE) has expanded its services in the UK and Ireland. Although ALE recently added Exertis to its UK distribution lineup, Nuvola claims to be the vendor's only UK distributor offering the vendor's whole communications and networking solutions range. Throughout the year, it has boosted its commitment to ALE, offering two new products in the last six months: Rainbow Office and Network-as-a-Service (NaaS).
  • In October, Avaya announced a new relationship with Infoline, Omantel ICT's business process outsourcing leader, in which Infoline will use Avaya OneCloudTM Contact Centre as a Service to improve customer experience across the Sultanate of Oman greatly.
  • In May 2021, Aspect Software and Noble Systems united to establish Alvaria, a contact center and workforce optimization (WFO) provider. According to executives from the two organizations, the new Alvaira will reimagine the contact center and workforce optimization histories of these two companies and produce optimal customer experience and workforce engagement (WEM) software and cloud services technology solutions. Abry Partners, a Boston-based private equity firm, drove the deal and now owns a majority stake in Alvaria.

Please wait. . . . Your request is being processed

FAQ's

What factors are driving the growth of the cloud-based contact center market globally?

Factors driving growth include the need for flexibility, scalability, cost-effectiveness, and the demand for omnichannel customer engagement solutions, all of which are addressed by cloud-based contact center services.

Which regions are experiencing the highest growth in the adoption of cloud-based contact centers?

North America and Europe are leading in the adoption of cloud-based contact centers, with Asia-Pacific also witnessing rapid growth due to increasing digital transformation initiatives.

Who are the major companies in the global cloud-based contact center market?

Cisco Systems, Genesys, Five9, New Voice Media, Oracle, 3clogic, Aspect Software, Nice Ltd, Connect First, Avaya, Vonage and Talkdesk are some of the major players in the global cloud-based contact center market.

Related Reports

Access the study in MULTIPLE FORMATS
Purchase options starting from $ 2500

Didn’t find what you’re looking for?
TALK TO OUR ANALYST TEAM

Need something within your budget?
NO WORRIES! WE GOT YOU COVERED!

REACH OUT TO US

Call us on: +1 888 702 9696 (U.S Toll Free)

Write to us: [email protected]

Click for Request Sample