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Cloud-based Contact Center Market 2019 Significant Growth Rate by Industry Size, Share, Market Dynamics, Development Status of Key Players Forecast to 2024

Cloud-based

The “Cloud-based Contact Center Market” research report 2019 delivers comprehensive information about the market ranging from the establishment to the predictable growth trend. Cloud-based Contact Center market report provides brief analytical data of the market contenders globally using advanced methodological approaches, such as SWOT analysis, production chain, cost, sales margin, financial details, recent developments. Cloud-based Contact Center market report also offers market competitors that includes detailed company profiles along with company product specifications.

Market Overview:

  • The cloud-based contact center market was valued at USD 8.926 billion in 2018, and is expected to reach USD 33.296 billion by 2024, at a CAGR of 24.57% over the forecast period (2019-2024). Legacy contact centers operate on older technologies that cannot support newer channels, such as social media, mobile app chats, or videos. Cloud-based contact centers can help companies meet these demands.
  • – A report from the State of Customer Experience 2017, validates the way cloud call centers are substituting the on-premise call centers. Migration of 39% contact centers in the United Kingdom to cloud-based, with 57% chalking out an action plan to move to cloud-based call center within the next three years, indicates the potential for the overall market.
  • – Furthermore, cloud-based infrastructure makes contact centers extremely scalable and by adopting enterprise cloud solutions for contact centers, organizations can save millions of dollars in operating costs, while also monitoring revenue leakage.
  • – Cloud contact centers have become a necessary step for companies to adopt a systematic approach that enhances performance, channels support and engagement, reporting and analytics to successfully support a customer base where customer preferences keep changing. The challenge for enterprises lies in choosing the right cloud contact center solution and strategic partner to achieve these goals.

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    In Cloud-based Contact Center Market Report, Following Companies Are Covered:

  • Amazon Web Services, Inc.
  • Oracle Corporation
  • Cisco Systems Inc.
  • Genesys Telecommunications Laboratories Inc.
  • 3CLogic Inc.
  • Connect First Inc.
  • Five9 Inc.
  • Mitel Networks Corporation
  • Aspect Software Parent Inc.
  • 8X8 Inc.
  • Avaya Holdings Corp.
  • NICE inContact

    Cloud-based Contact Center Market 2019 report will help the industry aspirants in arranging their strategies. The measurements offered in this report will be an exact and helpful manual to shape the business development. Additionally, will Provide historical data along with a future forecast and detailed analysis and also expected opportunities.

    Scope of the Report:

  • The cloud-based contact center market is segmented by Type (Automatic Call Distribution, Agent Performance Optimization, Dialers, Interactive Voice Response, Computer Telephony Integration, Analytics and Reporting), Services (Managed, Professional), End-user Industry (BFSI, IT and Telecom, Media and Entertainment, Retail, and Consumer, Logistics and Transport, Healthcare), and Geography.

    Reasons for Buying Cloud-based Contact Center Market Report:

    • This report provides pin-point analysis for changing competitive dynamics
    • It provides a forward looking perspective on different factors driving or restraining market growth
    • It provides a five-year forecast assessed on the basis of how the market is predicted to grow
    • It helps in understanding the key product segments and their future
    • It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
    • It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments

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    Key Market Trends:

    Retail Sector to Witness the Highest Growth Rate in the Forecast Period

    The intensifying competition in the retail marketplace and the emerging trends in customer services, expectations, behaviors, and e-commerce operations are driving the growth for the cloud-based contact centers market.
    The e-commerce industry is contributing to the growth of cloud contact centers tremendously. With retailers and e-tailers operating globally, compliance management becomes even more challenging. In May 2018, the advent of the European Union’s General Data Protection Regulation (GDPR) empowered EU customers and prospects to request that businesses delete their personal information. From live call monitoring and call recordings, supervisors of cloud-based contact centers can monitor key aspects of customer engagement to ensure adherence to regulations and identify issues.
    Most of the retailers, offline as well as online consider cloud contact centers as revenue generating stream with customer experience as a strategic focus. Therefore, many companies are entering this space. In 2019, Google announced its Contact Center AI, a beta version yet, to help retailers with intuitive customer service by scaling phone support without compromising the customer experience.

    North America to Hold the Largest Market Share

    In North America, the utilization of premise-based call centers dominated in mid-2017. However, the exceptional benefits offered by the cloud-based software is likely to boost the software demand.
    The organizations are shifting their focus toward cloud-based solutions to enhance efficiencies and scalabilities. For instance, in October 2018, one of the largest sub-servicers of residential mortgages in the United States, PHH Mortgage moved its contact center to cloud-based architecture in alliance with Serenova.
    The rising omnichannel approach to sales, coupled with the expanding e-commerce industry in the North American region, is driving the demand for contact centers. Companies are trying to expand their business portfolio in the region, due to the huge potential it offers. For instance, the omnichannel, cloud-based contact center software provider, ZaiLab, announced its plans to expand its product offerings in the North American region.

    The Research Document Will Answer Following Questions Such as:

    • What are the cutting-edge technologies responsible for driving the growth of the market?
    • What are the main applications of the market? What are the growth prospects to the market applications into the market?
    • At what stage of development are the key market products?
    • What are the shortcomings that has to face to become commercially viable? Is their growth and commercialization dependent on cost declines or technological/application breakthroughs?
    • What is the outlook for the industry?
    • What difference does performance characteristics of Cloud-based Contact Center create from those of established entities?

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    Detailed TOC of Cloud-based Contact Center Market Report 2019-2024:

    1 INTRODUCTION

    2 RESEARCH METHODOLOGY

    3 EXECUTIVE SUMMARY

    4 MARKET DYNAMICS
    4.1 Market Overview
    4.2 Industry Attractiveness – Porter’s Five Forces Analysis
    4.2.1 Threat of New Entrants
    4.2.2 Bargaining Power of Buyers/Consumers
    4.2.3 Bargaining Power of Suppliers
    4.2.4 Threat of Substitute Products
    4.2.5 Intensity of Competitive Rivalry
    4.3 Introduction to Market Drivers and Restraints
    4.4 Market Drivers
    4.4.1 Increasing Demand for Cloud-based Solutions
    4.4.2 Reduced Capital Expenses and Faster Deployment of Cloud Contact Center
    4.5 Market Restraints
    4.5.1 Security Concerns Regarding Cloud Based Solutions

    5 MARKET SEGMENTATION
    5.1 By Type
    5.1.1 Automatic Call Distribution
    5.1.2 Agent Performance Optimization
    5.1.3 Dialers
    5.1.4 Interactive Voice Response
    5.1.5 Computer Telephony Integration
    5.1.6 Analytics and Reporting
    5.2 By Service
    5.2.1 Professional
    5.2.2 Managed
    5.3 By End-user Industry
    5.3.1 Banking, Financial Services and Insurance (BFSI)
    5.3.2 IT and Telecom
    5.3.3 Media and Entertainment
    5.3.4 Retail
    5.3.5 Logistics and Transport
    5.3.6 Healthcare
    5.3.7 Other End-user Industries
    5.4 Geography
    5.4.1 North America
    5.4.2 Europe
    5.4.3 Asia-Pacific
    5.4.4 Latin America
    5.4.5 Middle East & Africa

    6 COMPETITIVE LANDSCAPE
    6.1 Company Profiles
    6.1.1 Amazon Web Services, Inc.
    6.1.2 Oracle Corporation
    6.1.3 Cisco Systems Inc.
    6.1.4 Genesys Telecommunications Laboratories Inc.
    6.1.5 3CLogic Inc.
    6.1.6 Connect First Inc.
    6.1.7 Five9 Inc.
    6.1.8 Mitel Networks Corporation
    6.1.9 Aspect Software Parent Inc.
    6.1.10 8X8 Inc.
    6.1.11 Avaya Holdings Corp.
    6.1.12 NICE inContact

    7 INVESTMENT ANALYSIS

    8 MARKET OPPORTUNITIES AND FUTURE TRENDS

     

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