Market Research Report
2018 - 2019 Cloud-Based Contact Center Infrastructure Market Report
|Published by||DMG Consulting LLC||Product code||250312|
Delivery time: 1-2 business days
|2018 - 2019 Cloud-Based Contact Center Infrastructure Market Report|
|Published: December 4, 2018||Content info:||
This is the 11th annual edition of DMG Consulting's Cloud-Based Contact Center Infrastructure Product and Market Report, the most comprehensive, authoritative analysis of this important and maturing IT sector. The Report examines the competitive landscape, and trends and challenges that are influencing the cloud-based contact center infrastructure (CBCCI) market. It explores market innovation, products, benefits, return on investment, pricing and implementation best practices. The Report also analyzes market dynamics, the vendors' market share, adoption rates and projections, as well as customer survey results that measure and track satisfaction with the vendors and their products.
Contact center infrastructure platform vendors are having a positive and disruptive impact on the CBCCI market. The new paradigm of “platform as a service” means that customized solutions can be created and deployed quickly; application programming interfaces (APIs) are being used to build out functional capabilities rapidly and easily.
CBCCI vendors have begun to differentiate themselves with their innovative routing capabilities that can optimize the outcome of each interaction. Incoming transactions can be evaluated in any channel, and be directed to the agent or advisor who is ideally suited to handle the issue. The result is higher sales rates, larger collections and greatly improved customer service. At the same time, productivity is enhanced as inbound agents are benefitting from guidance and recommendations on handling transactions as they are occurring, without having to spend as much time researching the customer's background and the context of their inquiry. The solutions also help organizations comply with various governmental regulations for required disclosures and prohibited activities during agents' conversations with customers.
Artificial intelligence (AI) is having a profound effect on the CBCCI market. Customers show a preference for self-service, and AI-enabled intelligent virtual agents (IVAs) are playing a vital role in addressing the self-service challenge. IVAs can automatically verify callers and allow customers to ask questions in their own words. IVAs also support seamless migration from one channel to another, and provide agents with information from diverse online sources to optimize and personalize each interaction and make the most of each sales opportunity. Robotic process automation (RPA) is another valuable tool in contact centers, relieving agents of repetitive, non-cognitive tasks, including the time-consuming processes required for compliance with two-factor authentication. Agents now have more time to spend on resolving customers' issues, enhancing their job satisfaction, as well as the customer experience.
The worlds of interaction management and customer relationship management (CRM) are converging. The CBCCI vendors are either offering their own CRM functionality and/ or making it simple to integrate with third-party solutions. Many CBCCI vendors have allowed their agent user interface (UI) to be embedded in the CRM system, or vice versa; some enable third-party solutions to be embedded into the agent interface. The result is a unified interface that can help improve the outcome of interactions, with seamless transition and persistent data and contact across all communication channels.
Workforce optimization (WFO) is a vital tool for companies of all sizes, as it can be used to optimize employee performance and analyze customer insights. The CBCCI vendors are now offering native recording and integrated quality management (QM). Gamification features are becoming standard, and post-interaction surveying has expanded to omni-channel outreach and often includes the ability to analyze unstructured feedback with speech and text analytics. Other features being offered by the CBCCI vendors include workforce management (WFM), contact center performance management (CCPM), as well as desktop analytics. Some vendors provide these features through partnerships, while others offer out-of-the-box integrations with best-of-breed providers.
The past year was excellent for the cloud-based contact center infrastructure market. DMG projected that the market would grow by 22% in 2017, and the actual growth rate was 25.4%. The vast majority of the sales were to existing contact centers who made the decision to migrate to the cloud. The introduction of contact center platforms from companies such as Amazon and Twilio also contributed to the growth of the market. DMG remains bullish on this IT market, particularly now that we see some of the larger contact centers are either moving to the cloud, albeit not all of their seats at once, or considering a move. DMG expects the market to grow at a minimum of 22.5% in 2018, 23% in 2019 and 2020, and 21% in 2021 and 2022.
The adoption rate of the cloud-based contact center infrastructure market as of the end of 2017 (July 2018) was 14.1% (includes hosted and SaaS), up from 11.4% at the end of 2016 (July 2017). Assuming a cost per seat of an average $125/month, this is already a $4.1 billion market. ($125/seat/month takes into consideration implementation, professional services and add-ons like WFO).
The 2018 - 2019 edition of the Cloud-Based Contact Center Product and Market Report features 10 leading and contending vendors: 8x8, Cisco, Content Guru, Five9, Genesys, NewVoiceMedia, NICE inContact, Serenova, Sharpen and Twilio. The Report also includes a comprehensive Vendor Directory that lists providers of cloud-based contact center infrastructure systems and applications for contact centers and customer service organizations worldwide.