Cloud-Based Contact Center Market by Solution (ACD, APO, Dialers, IVR, CTI, Reporting and Analytics, and Security), Service (Professional and Managed), Application, Deployment Model, Organization Size, Vertical, and Region - Global Forecast to 2022

  • ID: 4489155
  • Report
  • Region: Global
  • 146 Pages
  • Markets and Markets
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Global Cloud-Based Contact Center Market Expected to Grow from USD 6.80 Billion in 2017 to USD 20.93 Billion by 2022, at a CAGR of 25.2%

FEATURED COMPANIES

  • 3clogic
  • Aspect Software
  • Cisco Systems
  • Evolve IP, LLC.
  • Genesys
  • Newvoicemedia
  • MORE

"The growth in the need for improving consumer experience has fueled the adoption of cloud-based contact center solutions across the globe"

The global cloud-based contact center market is expected to grow from USD 6.80 billion in 2017 to USD 20.93 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 25.2% during the forecast period. Business continuity is one of the major driving factors for cloud-based contact centers. In on-premises contact centers, hardware failures emerge abruptly, which is expected to disastrously impact on the companies’ customer data resulting in downtime, busy signals, and excessive delay. Cloud-based contact centers are independent of the location they are situated that enables agents, supervisors, and administrators to access them from anywhere through a phone or by an internet connection. This makes cloud-based contact centers a disaster recovery/business continuity solution. This is one of the major growth drivers for the cloud-based contact center market, as these solutions provide an effective control that aid in meeting compliances and uptime. However, concerns related to information loss is expected to prevent the end-users from adopting these solutions.

"The call routing and queuing segment is expected to have the largest market size during the forecast period"

Call routing designates certain calls to different agents and locations depending on a variety of factors. Focusing on call routing enables organizations to manage thousands of calls continuously without compromising with the customer satisfaction. Moreover, organizations could easily manage spikes in call volume by intelligently distributing calls among multiple contact centers, including remote centers and home-based agents, with the unique cloud routing technology. However, demand for call routing and queuing solution is expected to increase in various verticals.

"The large enterprise segment is expected to have the larger market share during the forecast period"

The cloud-based contact center market has been segmented based on organization size into Small and Medium-sized Enterprises (SMEs) and large enterprises. The major benefit large enterprises receive with the implementation of cloud transformation is that the cloud services are maintained and supported by the vendors themselves. Moreover, firms could thereby engage their employees in more strategic business tasks. The demand for flexible, scalable, and convenient solutions for large enterprises pushes service providers to come up with the new technologies and offer innovative solutions. Hence, the cloud-based contact center market for large enterprises is expected to grow at a significant rate.

"North America is estimated to have the largest market share in 2017, whereas Asia Pacific is projected to grow at the highest rate during the forecast period"

North America is estimated to capture the largest market share in 2017, and the trend is expected to continue during the forecast period. Growth in adoption of cloud-based services in SMEs and large enterprises is expected to drive the revenue growth in this region. On the other hand, the cloud-based contact center market in Asia Pacific (APAC) is expected to witness an exponential growth and is projected to be one of the fastest-growing regions in the global cloud-based contact center market. This is attributed to the large-scale adoption of cost-effective cloud-based solutions in these regions.

In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with the key people.

The break-up of the profiles of the primary participants is given below:

  • By Company Type: Tier I: 50%, Tier II: 33%, and Tier III: 17%
  • By Designation: C Level: 50%, D Level: 17%, and Others: 33%
  • By Region: North America: 33%, APAC: 17%, Europe: 33%, and RoW: 17%

The key vendors profiled in the report are as follows:
1. 8x8 Inc. (US)
B Five9 (US)
3. Cisco Systems (US)
4. Genesys (US)
5. Oracle (US)
6. NewVoiceMedia (UK)
7. Connect First (US)
8. Aspect Software (US)
9. NICE Ltd. (Israel)
10. 3CLogic (US)

Research Coverage

The market is segmented on the basis of solution that includes 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 solution). The service segment includes professional service and managed service.

The deployment model segment includes public cloud, private cloud, and hybrid cloud. The organization size includes SMEs and large enterprises. The applications include call routing and queuing, data integration and recording, chat quality and monitoring, real-time decision-making, and workforce optimization. The market has been segmented on the basis of vertical into 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), and others (transportation and logistics, and education). Furthermore, the market has been segmented on the basis of regions into North America, Europe, APAC, Middle East and Africa (MEA), and Latin America.

The report is expected to help the market leaders/new entrants in the following ways:

1. The report segments the cloud-based contact center market comprehensively and provides the closest approximations of the revenue numbers for the overall market and subsegments across different industries and regions.

2. The report is expected to help stakeholders understand the pulse of the market and provide them with the information on the key market drivers, restraints, challenges, and opportunities.

3. The report is expected to help stakeholders better understand their competitors and gain more insights to enhance their position in the market. The competitive landscape section includes new product launches, partnerships, agreements and collaborations, mergers and acquisitions, and expansions related to the cloud-based contact center market.

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FEATURED COMPANIES

  • 3clogic
  • Aspect Software
  • Cisco Systems
  • Evolve IP, LLC.
  • Genesys
  • Newvoicemedia
  • MORE

1 Introduction
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
    1.4 Years Considered for the Study
    1.5 Currency Considered
    1.6 Stakeholders

2 Research Methodology
    2.1 Research Data
           2.1.1 Secondary Data
           2.1.2 Primary Data
                    2.1.2.1 Breakdown of Primaries
                    2.1.2.2 Key Industry Insights
    2.2 Market Size Estimation
    2.3 Research Assumptions
    2.4 Limitations

3 Executive Summary

4 Premium Insights
    4.1 Attractive Market Opportunities in the Cloud-Based Contact Center Market
    4.2 Cloud-Based Contact Center Market, Top 3 Verticals and Regions
    4.3 Market Investment Scenario

5 Market Overview and Industry Trends
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Pay-Per-Use Subscription Model for Charging End-Users
                    5.2.1.2 Faster Deployment, Better Scalability, and Improved Flexibility
                    5.2.1.3 Improved Business Continuity
                    5.2.1.4  Cloud Compliance Requirements
                    5.2.1.5 Improved Integration and Usability
                    5.2.1.6 Increasing Demand in SMEs for Cloud-Based Contact Center Services
           5.2.2 Restraints
                    5.2.2.1 Risk of Information Loss
                    5.2.2.2 Lack of Awareness About Cloud-Based Contact Centers in Some Regions
                    5.2.2.3 On-Premises Contact Center Technology Covers A Large Portion of the Current Contact Center Market
           5.2.3 Opportunities
                    5.2.3.1 Improved Customer Experience
                    5.2.3.2 Increasing Numbers of Enterprises are Harnessing the Benefits of Cloud-Based Contact Centers
                    5.2.3.3 Rising Interest of the Major Market Vendors
           5.2.4 Challenges
                    5.2.4.1 Maintaining Integration Levels
                    5.2.4.2 Poor It Infrastructure for Cloud-Based Contact Center Adoption
    5.3 Technology Trends and Standards
           5.3.1 Introduction
           5.3.2 Standards and Guidelines for the Cloud-Based Contact Center Market
                    5.3.2.1 Service Organization Control (SOC) 2
                    5.3.2.2 Sarbanes-Oxley Act (SOX)
                    5.3.2.3 Gramm-Leach-Bliley Act (GLBA)
                    5.3.2.4 Health Insurance Portability and Accountability Act (HIPAA)
                    5.3.2.5 National Institute of Standards and Technology (NIST) Cybersecurity Framework (CSF)
                    5.3.2.6 Cloud Security Alliance (CSA) Cloud Controls Matrix (CCM)
                    5.3.2.7 Payment Card Industry Data Security Standard (PCI DSS)
                    5.3.2.8 Federal Information Security Management Act (FISMA)
    5.4 Cloud-Based Contact Center Market: Value Chain Analysis
    5.5 Market Ecosystem

6 Cloud-Based Contact Center Market, By Solution
    6.1 Introduction
    6.2 Automatic Call Distribution
    6.3 Agent Performance Optimization
    6.4 Dialers
    6.5 Interactive Voice Response
    6.6 Computer Telephony Integration
    6.7 Reporting and Analytics
    6.8 Security
    6.9 Others

7 Cloud-Based Contact Center Market, By Service
    7.1 Introduction
    7.2 Professional Services
    7.3 Managed Services

8 Cloud-Based Contact Center Market, By Application
    8.1 Introduction
    8.2 Call Routing and Queuing
    8.3 Data Integration and Recording
    8.4 Chat Quality and Monitoring
    8.5 Real-Time Decision Making
    8.6 Workforce Optimization

9 Cloud-Based Contact Center Market, By Deployment Model
    9.1 Introduction
    9.2 Public Cloud
    9.3 Private Cloud
    9.4 Hybrid Cloud

10 Cloud-Based Contact Center Market, By Organization Size
     10.1 Introduction
     10.2 Large Enterprises
     10.3 Small and Medium-Sized Enterprises

11 Cloud-Based Contact Center Market, By Vertical
     11.1 Introduction
     11.2 Banking, Financial Services, and Insurance
     11.3 Consumer Goods and Retail
     11.4 Government and Public Sector
     11.5 Healthcare and Life Sciences
     11.6 Manufacturing
     11.7 Media and Entertainment
     11.8 Telecommunication and Ites
     11.9 Others

12 Cloud-Based Contact Center Market, By Region
     12.1 Introduction
     12.2 North America
     12.3 Europe
     12.4 Asia Pacific
     12.5 Middle East and Africa
     12.6 Latin America

13 Competitive Landscape
     13.1 Overview
             13.1.1 Market Ranking
             13.1.2 New Product/Technology Launches
             13.1.3 Partnerships, Agreements, and Collaborations
             13.1.4 Mergers and Acquisitions

14 Company Profiles
     14.1 Introduction
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, View)*
     14.2 8x8, Inc.
     14.3 Five9
     14.4 Cisco Systems
     14.5 Genesys
     14.6 Oracle
     14.7 Newvoicemedia
     14.8 Connect First
     14.9 Aspect Software
     14.10 Nice Ltd.
     14.11 3clogic
*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies.
     14.12 Key Innovators
             14.12.1 Bt Group
             14.12.2 West Corporation
             14.12.3 Liveops
             14.12.4 Mitel Networks Corporation
             14.12.5 Ozonetel Systems Pvt. Ltd
             14.12.6 Evolve IP, LLC.

List of Tables
Table 1 Global Cloud-Based Contact Center Market: Assumptions
Table 2 Cloud-Based Contact Center Market Size, By Solution, 2015-2022 (USD Million)
Table 3 Automatic Cloud Distribution: Cloud-Based Contact Center Market Size, By Region, 2015-2022 (USD Million)
Table 4 Agent Performance Optimization: Cloud-Based Contact Center Market Size, By Region, 2015-2022 (USD Million)
Table 5 Dialers: Cloud-Based Contact Center Market Size, By Region, 2015-2022 (USD Million)
Table 6 Interactive Voice Response: Cloud-Based Contact Center Market Size, By Region, 2015-2022 (USD Million)
Table 7 Computer Telephony Integration: Cloud-Based Contact Center Market Size, By Region, 2015-2022 (USD Million)
Table 8 Reporting and Analytics: Cloud-Based Contact Center Market Size, By Region, 2015-2022 (USD Million)
Table 9 Security: Cloud-Based Contact Center Market Size, By Region, 2015-2022 (USD Million)
Table 10 Others: Cloud-Based Contact Center Market Size, By Region, 2015-2022 (USD Million)
Table 11 Cloud-Based Contact Center Market Size, By Service, 2015-2022 (USD Million)
Table 12 Professional Services: Cloud-Based Contact Center Market Size, By Region, 2015-2022 (USD Million)
Table 13 Managed Services: Cloud-Based Contact Center Market Size, By Region, 2015-2022 (USD Million)
Table 14 Cloud-Based Contact Center Market Size, By Application, 2015-2022 (USD Million)
Table 15 Call Routing and Queuing: Cloud-Based Contact Center Market Size, By Region, 2015-2022 (USD Million)
Table 16 Data Integration and Recording: Cloud-Based Contact Center Market Size, By Region, 2015-2022 (USD Million)
Table 17 Chat Quality and Monitoring: Cloud-Based Contact Center Market Size, By Region, 2015-2022 (USD Million)
Table 18 Real-Time Decision Making: Cloud-Based Contact Center Market Size, By Region, 2015-2022 (USD Million)
Table 19 Workforce Optimization: Cloud-Based Contact Center Market Size, By Region, 2015-2022 (USD Million)
Table 20 Cloud-Based Contact Center Market Size, By Deployment Model, 2015-2022 (USD Million)
Table 21 Public Cloud: Cloud-Based Contact Center Market Size, By Region, 2015-2022 (USD Million)
Table 22 Private Cloud: Cloud-Based Contact Center Market Size, By Region, 2015-2022 (USD Million)
Table 23 Hybrid Cloud: Cloud-Based Contact Center Market Size, By Region, 2015-2022 (USD Million)
Table 24 Cloud-Based Contact Center Market Size, By Organization Size, 2015-2022 (USD Million)
Table 25 Large Enterprises: Cloud-Based Contact Center Market Size, By Region, 2015-2022 (USD Million)
Table 26 Small and Medium-Sized Enterprises: Cloud-Based Contact Center Market Size, By Region, 2015-2022 (USD Million)
Table 27 Cloud-Based Contact Center Market Size, By Vertical, 2015-2022 (USD Million)
Table 28 Banking, Financial Services, and Insurance: Cloud-Based Contact Center Market Size, By Region, 2015-2022 (USD Million)
Table 29 Consumer Goods and Retail: Cloud-Based Contact Center Market Size, By Region, 2015-2022 (USD Million)
Table 30 Government and Public Sector: Cloud-Based Contact Center Market Size, By Region, 2015-2022 (USD Million)
Table 31 Healthcare and Life Sciences: Cloud-Based Contact Center Market Size, By Region, 2015-2022 (USD Million)
Table 32 Manufacturing: Cloud-Based Contact Center Market Size, By Region, 2015-2022 (USD Million)
Table 33 Media and Entertainment: Cloud-Based Contact Center Market Size, By Region, 2015-2022 (USD Million)
Table 34 Telecommunication and Ites: Cloud-Based Contact Center Market Size, By Region, 2015-2022 (USD Million)
Table 35 Others: Cloud-Based Contact Center Market Size, By Region, 2015-2022 (USD Million)
Table 36 Cloud-Based Contact Center Market Size, By Region, 2015-2022 (USD Million)
Table 37 North America: Cloud-Based Contact Center Market Size, By Solution, 2015-2022 (USD Million)
Table 38 North America: Cloud-Based Contact Center Market Size, By Service, 2015-2022 (USD Million)
Table 39 North America: Cloud-Based Contact Center Market Size, By Application, 2015-2022 (USD Million)
Table 40 North America: Cloud-Based Contact Center Market Size, By Deployment Model 2015-2022 (USD Million)
Table 41 North America: Cloud-Based Contact Center Market Size, By Organization Size, 2015-2022 (USD Million)
Table 42 North America: Cloud-Based Contact Center Market Size, By Vertical, 2015-2022 (USD Million)
Table 43 Europe: Cloud-Based Contact Center Market Size, By Solution, 2015-2022 (USD Million)
Table 44 Europe: Cloud-Based Contact Center Market Size, By Service, 2015-2022 (USD Million)
Table 45 Europe: Cloud-Based Contact Center Market Size, By Application, 2015-2022 (USD Million)
Table 46 Europe: Cloud-Based Contact Center Market Size, By Deployment Model, 2015-2022 (USD Million)
Table 47 Europe: Cloud-Based Contact Center Market Size, By Organization Size, 2015-2022 (USD Million)
Table 48 Europe: Cloud-Based Contact Center Market Size, By Vertical, 2015-2022 (USD Million)
Table 49 Asia Pacific: Cloud-Based Contact Center Market Size, By Solution, 2015-2022 (USD Million)
Table 50 Asia Pacific: Cloud-Based Contact Center Market Size, By Service, 2015-2022 (USD Million)
Table 51 Asia Pacific: Cloud-Based Contact Center Market Size, By Application, 2015-2022 (USD Million)
Table 52 Asia Pacific: Cloud-Based Contact Center Market Size, By Deployment Model, 2015-2022 (USD Million)
Table 53 Asia Pacific: Cloud-Based Contact Center Market Size, By Organization Size, 2015-2022 (USD Million)
Table 54 Asia Pacific: Cloud-Based Contact Center Market Size, By Vertical, 2015-2022 (USD Million)
Table 55 Middle East and Africa: Cloud-Based Contact Center Market Size, By Solution, 2015-2022 (USD Million)
Table 56 Middle East and Africa: Cloud-Based Contact Center Market Size, By Service, 2015-2022 (USD Million)
Table 57 Middle East and Africa: Cloud-Based Contact Center Market Size, By Application, 2015-2022 (USD Million)
Table 58 Middle East and Africa: Cloud-Based Contact Center Market Size, By Deployment Model, 2015-2022 (USD Million)
Table 59 Middle East and Africa: Cloud-Based Contact Center Market Size, By Organization Size, 2015-2022 (USD Million)
Table 60 Middle East and Africa: Cloud-Based Contact Center Market Size, By Vertical, 2015-2022 (USD Million)
Table 61 Latin America: Cloud-Based Contact Center Market Size, By Solution, 2015-2022 (USD Million)
Table 62 Latin America: Cloud-Based Contact Center Market Size, By Service, 2015-2022 (USD Million)
Table 63 Latin America: Cloud-Based Contact Center Market Size, By Application, 2015-2022 (USD Million)
Table 64 Latin America: Cloud-Based Contact Center Market Size, By Deployment Model, 2015-2022 (USD Million)
Table 65 Latin America: Cloud-Based Contact Center Market Size, By Organization Size, 2015-2022 (USD Million)
Table 66 Latin America: Cloud-Based Contact Center Market Size, By Vertical, 2015-2022 (USD Million)
Table 67 Market Ranking for the Cloud-Based Contact Center Market, 2017
Table 68 New Product/Technology Launches, 2015-2017
Table 69 Partnerships, Agreements, and Collaborations, 2015-2018
Table 70 Mergers and Acquisitions, 2015-2018

List of Figures
Figure 1 Global Cloud-Based Contact Center Market: Market Segmentation
Figure 2 Cloud-Based Contact Center Market: Research Design
Figure 3 Breakdown of Primary Interviews: By Company, Designation, and Region
Figure 4 Data Triangulation
Figure 5 Market Size Estimation Methodology: Bottom-Up Approach
Figure 6 Market Size Estimation Methodology: Top-Down Approach
Figure 7 Cloud-Based Contact Center Market: Regional Snapshot
Figure 8 Cloud-Based Contact Center Market Snapshot, By Solution
Figure 9 Cloud-Based Contact Center Market Snapshot, By Service
Figure 10 Cloud-Based Contact Center Market Snapshot, By Organization Size
Figure 11 Cloud-Based Contact Center Market Snapshot, By Vertical
Figure 12 Increasing Adoption of Cloud-Based Offerings is Expected to Fuel the Growth of the Cloud-Based Contact Center Market
Figure 13 Banking, Financial Services, and Insurance Vertical, and North America are Estimated to Have the Largest Market Shares in 2017
Figure 14 Asia Pacific is Expected to Emerge as the Best Market for Investments Over the Next 5 Years
Figure 15 Cloud-Based Contact Center Market: Drivers, Restraints, Opportunities, and Challenges
Figure 16 Cloud-Based Contact Center Market: Value Chain Analysis
Figure 17 Cloud-Based Contact Center Market Ecosystem
Figure 18 Security Segment is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 19 Managed Services Segment is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 20 Chat Quality and Monitoring Segment is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 21 Hybrid Cloud Segment is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 22 Small and Medium-Sized Enterprises Segment is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 23 Consumer Goods and Retail Vertical is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 24 Asia Pacific is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 25 North America: Market Snapshot
Figure 26 Asia Pacific: Market Snapshot
Figure 27 Companies Adopted New Product/Technology Launches; and Partnerships, Agreements, and Collaborations as the Key Growth Strategies From 2015 to 2022
Figure 28 Geographic Revenue Mix of Key Market Players
Figure 29 8x8, Inc.: Company Snapshot
Figure 30 8x8, Inc.: SWOT Analysis
Figure 31 Five9: Company Snapshot
Figure 32 Five9: SWOT Analysis
Figure 33 Cisco Systems: Company Snapshot
Figure 34 Cisco Systems: SWOT Analysis
Figure 35 Genesys: SWOT Analysis
Figure 36 Oracle: Company Snapshot
Figure 37 Oracle: SWOT Analysis
Figure 38 Nice Ltd.: Company Snapshot

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  • 3clogic
  • 8x8, Inc.
  • Aspect Software
  • Bt Group
  • Cisco Systems
  • Connect First
  • Evolve IP, LLC.
  • Five9
  • Genesys
  • Liveops
  • Mitel Networks Corporation
  • Newvoicemedia
  • Nice Ltd.
  • Oracle
  • Ozonetel Systems Pvt. Ltd
  • West Corporation
Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown
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