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Cloud-based Contact Center Market: Market Segments: By Component (Solution and Services); By Organization Size (Large Enterprises, and Small and Medium-sized Enterprises (SMEs)); By Deployment Model (Public Cloud and Private Cloud); By Vertical (BFSI, Retail, IT & Telecom, Government, Healthcare, and Others); and Region - Global Analysis by Market Size, Share & Trends for 2014 - 2020 and Forecasts t- 2030
Product Overview
Cloud-Based contact center provides software, tool set, cloud-hosted services including automated call routing, multiple communication platforms, agent management and analytics. It provides and enables businesses t- use the cloud-based data generated. It plays a crucial role in adapting and enhancing efficiency t- the systemic approach of companies.
Market Highlights
Cloud-based Contact Center Market is expected t- project a notable CAGR of 25.26% in 2030.
Cloud-based Contact Center Market t- surpass USD 38.9 billion by 2030 from USD 12.7 billion in 2019 at a CAGR of 25.26% throughout the forecast period, i.e., 2020-30. Market growth is projected t- boost due t- the growing user base and high adoption rate of cloud-based services, social media and mobile analytics among different industry sectors. It is als- anticipated that the demand for enhanced omnichannel experiences and technological developments in communication services will drive market development.
Cloud-based Contact Center Market: Segments
Solution segment t- grow with the highest CAGR during 2020-30
Cloud-based Contact Center Market is segmented by component as solution and services. The solutions segment is further bifurcated int- consulting and training. Due t- large-scale demand for the implementation of new contact center software and the integration of new systems with existing ones in the workplace, the higher market share in 2018 was accounted for by the solution, which is expected t- drive segment growth.
Cloud-based Contact Center Market: Market Dynamics
Drivers
Increasing Demand for Cloud-based Solutions
Contact centres are rapidly evolving from primary models that deploy operations in a single channel t- multi-channel, multi-function units t- manage customer relationship management. In-bound and out-bound calls, emails, web queries, and chats are managed worldwide by modern age contact centers.
Restrain
Security Concerns Regarding Cloud-based Solutions
Access t- critical information has led t- a number of challenges in today's digital world. One of these challenges is that cybercriminals have become a major target for businesses storing sensitive data. Contact centres, which normally handle a lot of valuable customer information, are unfortunately n- exception. A huge amount of customer information that attracts cybercriminals t- target these contact centres is regularly collected and stored by contact centres.
Cloud-based Contact Center Market: Key Players
Avaya Contact Center (Ayaya Group)
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence and SWOT Analysis.
RingCentral 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
Teleforge Corporation
1Stream Inc.
Cloud-based Contact Center Market: Regions
Cloud-based Contact Center Market is segmented based on regional analysis int- five major regions. These include North America, Latin America, Europe, APAC and MENA.
Cloud-based Contact Center Market in North America held the largest market share of XX.X% in the year 2018 and it is expected t- continue its market dominance in the future. The presence in North America of a large number of contacts center software providers has led t- increased awareness of these software among local organizations. Several suppliers in the region focus on providing efficient and simple self-service IVR options t- save customer effort and time for customer queries, thus creating growth opportunities for the region's software adoption. A large number of companies are als- migrating t- cloud storage, creating growth opportunities for the regional market, while the rapid growth of cloud-based contact center adoption in APAC is mainly driven by the dramatic growth of data center business, increasing numbers of start-ups and the willingness of customers t- adopt new technologies are driving the growth of cloud-based contact center market.
Cloud-based Contact Center Market report als- contains analysis on:
Cloud-based Contact Center Market Segments:
By Component:
Solutions
Services
By Deployment Model:
Public Cloud
Private Cloud
By Organization Size:
Large Enterprises
Small and Medium-sized Enterprises (SMEs)
By Vertical:
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
Cloud-based Contact Center Market Dynamics
Cloud-based Contact Center Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints
FAQs on Cloud-based Contact Center Market
Which segment is anticipated t- hold the largest market share?
At what CAGR is the market anticipated t- grow between 2020 and 2030?
Wh- are the key players in the Cloud-based Contact Center Market?
What could be the challenging factors in the growth of Cloud-based Contact Center Market?
What are the growth drivers for the Cloud-based Contact Center Market?