Cloud Based Contact Centre Global Market Report 2023

The cloud-based contact center refers to the hub of an organization where all inbound and outbound customer communications are managed. These are used to lower costs, boost ROI, increase scalability and flexibility, offer better customer and employee experiences, and enable companies to give cutting-edge capabilities that transform the historical contact center into a modern contact center and could be deployed in minutes with no upfront capital commitment.

The main types of cloud-based contact centers are automatic call distribution, agent performance optimization, dialers, interactive voice response, computer telephony integration, analytics, and reporting. Automatic call distribution refers to the telephone system that routes incoming calls to a staff member who is available after automatically receiving them. The components involved are solutions and services that are deployed by private cloud and public cloud and used for small and medium enterprises (SMEs) and Large enterprises. The various verticals involved are BFSI, telecommunications, IT and ITES, government and public sector, retail and consumer goods, manufacturing, energy and utilities, media and entertainment, healthcare and life sciences, and others.

The global cloud based contact centre market is expected to grow from $17.59 billion in 2022 to $22.11 billion in 2023 at a compound annual growth rate (CAGR) of 25.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The cloud based contact centre market is expected to grow to $54.41 billion in 2027 at a CAGR of 25.2%.

The cloud-based contact center market research report is one of a series of new reports that provides cloud-based contact center market statistics, including cloud-based contact center industry global market size, regional shares, competitors with cloud-based contact center market share, detailed cloud-based contact center market segments, market trends, and opportunities, and any further data you may need to thrive in the cloud-based contact center industry. This cloud based contact center market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The adoption of new technologies is a key trend gaining popularity in the cloud-based contact center market. Major players in the cloud-based contact center sector are focused on the adoption of new technologies to sustain their marketplace. For an instance, in March 2022, Google, a US-based, technology company, launched the Cloud Contact Center AI platform. The Google Cloud Contact Center AI Platform combines artificial intelligence, cloud scalability, multi-experience capabilities, and CRM connectors to provide a complete, out-of-the-box contact centre platform. Cloud Contact Center AI platform uses historical CRM (Customer relationship management) data and in-the-moment contacts, to predict client needs and route calls properly.

In July 2022, Ericsson, a Sweden-based networking and telecommunications company acquired Vonage for $6.2 billion. With this acquisition, Ericsson can offer a broad range of communication solutions, including Communications Platform as a Service (CPaaS), Unified Communications as a Service (UCaaS), and Cloud Communications as a Service (CCaaS). Ericsson aims to enhance R&D spending and provide these solutions to CSPs to speed up growth in Vonage's UCaaS and CCaaS solutions. This would allow Ericsson's current clients to sell under their brands and boost growth. Vonage is a US-based cloud communications provider company that offers cloud contact center software solutions.

North America was the largest region in the cloud based contact centre market in 2022. The regions covered in the cloud based contact centre market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the cloud based contact centre market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The increasing interest of global companies in investing in the cloud-based contact center sector is expected to drive the growth of the cloud-based contact center market going forward. Due to several advantages including removing a single point of failure, assuring automatic failover, implementing global redundancy, and providing sophisticated assistance, businesses are becoming more interested in the cloud, which has led to an increase in the use of cloud-based contact centres. For instance, in May 2022, CloudHesive, a US-based premier consulting partner in the Amazon Web Services (AWS), acquired Dextr, a US-based customer service and performance dashboard for the Amazon Web Services (AWS) cloud contact center. With this partnership, CloudHesive customers can purchase a platform that combines Dextr with its knowledge of consultancy and managed services for the software-as-a-service platforms Amazon Connect and Customer Connect. Furthermore, in 2021, Aircall, a France-based startup company that develops cloud-based call centers, raised $120 million from Goldman Sachs Asset Management, a US-based capital market company, and Molten Ventures (formerly Draper Esprit), a UK-based venture capital firm. Therefore, the increased interest of global companies in investing in the cloud-based contact center sector is driving the demand for the cloud-based contact center market.

The cloud-based contact center market includes revenues earned by entities by providing services such as professional and managed services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Major players in the cloud based contact centre market are NICE Systems Ltd., Genesys Telecommunications Laboratories Inc., Five9 Inc., Talkdesk, 8x8 Inc., Cisco Systems Inc., Avaya Holdings Corp, Serenova LLC, Content Guru, Alvaria Inc., RingCentral Inc., Enghouse Interactive Inc., 3CLogic Inc., Ameyo, Twilio, Vocalcom, Evolve IP, and Connect First Inc.



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