According to the latest report by IMARC Group, titled "Cloud-based Contact Center Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global cloud-based contact center market reached a value of US$ 17.7 Billion in 2021. A cloud-based contact center refers to the central point in an enterprise that allows an outbound and inbound communication channel with customers. It is a comprehensive suite of applications, tools and cloud-hosted services that are generally installed in large businesses for effectively handling customer care services. It involves the utilization of several methods of communication, including email, voice and social media, in order to connect with customers while maintaining a consistent record. As a result, it offers enterprises a modern alternative to on-premises contact centers and easy and quick access to multiple services and tools required to communicate in today’s web-based world.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Cloud-based Contact Center Market Trends:
The global market is primarily driven by the rising need for efficient communication systems across multiple sectors. This is supported by rapid digitization across the globe that has encouraged multiple businesses to heavily invest in the deployment of cloud-based contact centers. Furthermore, the sudden outbreak of coronavirus disease (COVID-19) and the increasing adoption of remote working practices have accelerated the utilization of cloud solution across several countries. Since the cloud-based contact center is a reliable and convenient solution for enterprises to continue their business during the onset of the pandemic, this is providing a boost to the market growth. Additionally, continual technological advancements and the integration of artificial intelligence (AI) and machine learning (ML) with the cloud-based contact center are acting as major growth-inducing factors. The market is further driven by the rising adoption of the service platform across banking and financial institutions for providing sophisticated and smooth customer interaction. Other factors, including rapid digitization, continuous improvements in the information technology (IT) infrastructure and extensive research and development (R&D) activities conducted by key players, are also positively influencing the market. On account of the aforementioned factors,?the market is anticipated to reach a value of US$ 63.8 Billion by 2027, exhibiting a CAGR of 23.10% during 2022-2027.
- On the basis of the component, the market has been segregated into solution (automatic call distribution, agent performance optimization, dialers, interactive voice response, computer telephony integration and analytics and reporting) and service (professional and managed services).
- Based on the deployment mode, the market has been segmented into public cloud, private cloud and hybrid cloud.
- On the basis of the organization size, the market has been bifurcated into small and medium-sized and large enterprises.
- Based on the end-use industry, the market has been categorized into BFSI, IT and telecom, media and entertainment, retail, logistics and transport, healthcare and others.
- On the basis of the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.?Some of these players include 3CLogic, 8x8 Inc., Avaya Inc., Cisco Systems Inc., Content Guru Limited, Five9 Inc., Genesys, NICE Ltd., RingCentral Inc., Talkdesk, Twilio Inc., Vocalcom and Vonage.
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