Quick Summary:
In the dynamic and rapidly evolving landscape of customer service, the demand for efficient, adaptable, and scalable solutions is growing. One of the key driving factors behind this demand is the rising need for a seamless, personalized, and omnichannel customer experience that can be delivered effectively through a cloud-based contact center. These centers are reinventing the way businesses manage inbound and outbound customer interactions, providing them with a comprehensive set of tools and robust analytics capabilities to deepen their understanding of customer behavior and optimize their service delivery.
Modern enterprises are quickly realizing the benefits of cloud-based contact centers, ranging from the financial sector to the health industry. The increasing use of m-banking apps, reinforced by the adoption of cloud computing, is a crucial growth propellant. Additionally, the integration of artificial intelligence, predictive analytics, machine learning, and other advanced technologies into these platforms is providing unparalleled efficiency and quality in customer interaction management. Now, businesses can forecast customer behavior, identify potential issues, improve customer service, and streamline processes like never before. In the healthcare sector, cloud-based contact centers are a key player, enabling virtual consultations and remote monitoring, improving patient outcomes and supporting the rise of telemedicine services.
Through this market research report, discover the latest trends, gain insights into key market segments, and understand the competitive landscape of the global cloud-based contact center market. Equip itself with the strategic information required to leverage this growing sector and build a customer-centric approach that drives success.
The global cloud-based contact center market size reached US$ 22.2 Billion in 2022. Looking forward, the publisher expects the market to reach US$ 77.7 Billion by 2028, exhibiting a growth rate (CAGR) of 22.5% during 2023-2028. The increasing use of m-banking apps, rising adoption of cloud computing, and the integration of advanced technologies represent some of the key factors driving the market.
A cloud-based contact center is a virtual customer service platform that provides a comprehensive set of tools for managing inbound and outbound customer interactions. It is designed to deliver a seamless, personalized, and omnichannel customer experience in multiple communication channels., such as phone, email, chat, and social media. It offers robust analytics and reporting capabilities that enable businesses to gain insights into customer behavior, agent performance, and other key metrics. It also provides easy and quick access to multiple services and tools required to communicate in a web-based world as compared to traditional on-premises contact centers. It is generally used to generate leads, manage sales calls, and support marketing campaigns.
2. What is the expected growth rate of the global cloud-based contact center market during 2023-2028?
3. What are the key factors driving the global cloud-based contact center market?
4. What has been the impact of COVID-19 on the global cloud-based contact center market?
5. What is the breakup of the global cloud-based contact center market based on the component?
6. What is the breakup of the global cloud-based contact center market based on the deployment mode?
7. What is the breakup of the global cloud-based contact center market based on the organization size?
8. What is the breakup of the global cloud-based contact center market based on the end use industry?
9. What are the key regions in the global cloud-based contact center market?
10. Who are the key players/companies in the global cloud-based contact center market?
A cloud-based contact center is a virtual customer service platform that provides a comprehensive set of tools for managing inbound and outbound customer interactions. It is designed to deliver a seamless, personalized, and omnichannel customer experience in multiple communication channels., such as phone, email, chat, and social media. It offers robust analytics and reporting capabilities that enable businesses to gain insights into customer behavior, agent performance, and other key metrics. It also provides easy and quick access to multiple services and tools required to communicate in a web-based world as compared to traditional on-premises contact centers. It is generally used to generate leads, manage sales calls, and support marketing campaigns.
Cloud-based Contact Center Market Trends:
Cloud-based contact center finds application in the banking, financial services and insurance (BFSI) sector to detect and prevent fraud by analyzing customer data, transaction histories, and other information. This, coupled with the increasing use of m-banking apps, represents one of the major factors propelling the market growth around the world. Moreover, the rising adoption of cloud computing in small and medium-scale enterprises (SMEs) on account of its numerous advantages, such as robust scalability, affordability, flexibility, and features, is favoring the growth of the market. In addition, the integration of artificial intelligence (AI), natural language processing (NLP), machine learning (ML), predictive analytics, voice analytics, and the internet of things (IoT) in a cloud-based contact center to provide a seamless and efficient customer experience is bolstering the market growth. These advanced technologies help analyze customer data and deliver insights that are used to forecast customer behavior, identify potential issues, improve customer service, and optimize business processes. These advancements also analyze voice interactions between customers and agents to provide insights into consumer sentiment and agent performance. Apart from this, the cloud-based contact center is employed in the healthcare sector to support telemedicine services, enable patients to receive virtual consultations, and remote monitoring from healthcare providers. It also helps healthcare providers manage patient appointments and reminders, reduce the risk of missed appointments, and improve patient outcomes. This, along with the surging prevalence of chronic conditions among the masses, is strengthening the growth of the market. Furthermore, significant improvements in the information technology (IT) infrastructure is creating a positive outlook for the market.Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global cloud-based contact center market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on component, deployment mode, organization size and end use industry.Component Insights:
- Solution
- Automatic Call Distribution
- Agent Performance Optimization
- Dialers
- Interactive Voice Response
- Computer Telephony Integration
- Analytics and Reporting
- Service
- Professional Services
- Managed Services
Deployment Mode Insights:
- Public Cloud
- Private Cloud
- Hybrid Cloud
Organization Size Insights:
- Small and Medium-sized Enterprises
- Large Enterprises
End Use Industry Insights:
- BFSI
- IT and Telecom
- Media and Entertainment
- Retail
- Logistics and Transport
- Healthcare
- Others
Regional Insights:
North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
Latin America
- Brazil
- Mexico
- Others
Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets, which include 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. According to the report, North America was the largest market for cloud-based contact center. Some of the factors driving the North America cloud-based contact center market included the rising adoption of advanced communication technologies, expansion of IT sector, integration of advanced technologies, etc.Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the global cloud-based contact center market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include 3CLogic, 8x8 Inc., Avaya Inc., Cisco Systems Inc., Content Guru Limited, Five9 Inc., Genesys, NICE Ltd., RingCentral Inc., Talkdesk, Twilio Inc., Vocalcom, Vonage, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.Key Questions Answered in This Report
1. What was the size of the global cloud-based contact center market in 2022?2. What is the expected growth rate of the global cloud-based contact center market during 2023-2028?
3. What are the key factors driving the global cloud-based contact center market?
4. What has been the impact of COVID-19 on the global cloud-based contact center market?
5. What is the breakup of the global cloud-based contact center market based on the component?
6. What is the breakup of the global cloud-based contact center market based on the deployment mode?
7. What is the breakup of the global cloud-based contact center market based on the organization size?
8. What is the breakup of the global cloud-based contact center market based on the end use industry?
9. What are the key regions in the global cloud-based contact center market?
10. Who are the key players/companies in the global cloud-based contact center market?
Frequently Asked Questions about the Global Cloud-based Contact Center Market
What is the estimated value of the Global Cloud-based Contact Center Market?
What is the growth rate of the Global Cloud-based Contact Center Market?
What is the forecasted size of the Global Cloud-based Contact Center Market?
Who are the key companies in the Global Cloud-based Contact Center Market?
| Report Attribute | Details |
|---|---|
| No. of Pages | 143 |
| Published | May 2023 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( USD | $ 22.2 Billion |
| Forecasted Market Value ( USD | $ 77.7 Billion |
| Compound Annual Growth Rate | 23.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 13 |
Table of Contents
1 Preface3 Executive Summary12 Value Chain Analysis14 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Cloud-based Contact Center Market
6 Market Breakup by Component
7 Market Breakup by Deployment Mode
8 Market Breakup by Organization Size
9 Market Breakup by End Use Industry
10 Market Breakup by Region
11 SWOT Analysis
13 Porters Five Forces Analysis
15 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- 3CLogic
- 8x8 Inc.
- Avaya Inc.
- Cisco Systems Inc.
- Content Guru Limited
- Five9 Inc.
- Genesys
- NICE Ltd.
- RingCentral Inc.
- Talkdesk
- Twilio Inc.
- Vocalcom
- Vonage.
Methodology
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