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Market Research Report

Global Cloud-based Contact Center Market - Segmented by Solutions, Services, End User, and Region - Growth, Trends, and Forecast

Published by Mordor Intelligence LLP Product code 547064
Published Content info 107 Pages
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Global Cloud-based Contact Center Market - Segmented by Solutions, Services, End User, and Region - Growth, Trends, and Forecast
Published: May 18, 2018 Content info: 107 Pages
Description

The global cloud-based contact center market was valued at USD 7.17 billion in 2017, and is expected to reach USD 26.69 billion by 2023 at a CAGR of 24.49%, over the forecast period (2018-2023). This report provides information about the leading players in the market and a corresponding detailed analysis of the top vendors in the market. In addition, the report discusses the major drivers that influence the growth of the market. It also outlines the challenges faced by the vendors and the market at large, as well as the key trends that are emerging in the market.

The cloud-based contact center is a deployment model that enables organizations to build their contact center in third-party or remote data centers. It enables scalability, flexibility, and business agility for contact centers, while saving major costs over the long term. With the advent of globalization, many organizations are looking for a cost-effective approach to aid their business expansion and penetration. This can be achieved through cloud-based services, which do not require any distinct and high expenditure installations, thus favoring the adoption of the technology.

Increasing Demand for Cloud-based Solutions is Driving Market Growth

Increased business agility, scalability, faster deployment models, better agent productivity, and better customer experience are driving the demand for cloud-based services and solutions. These solutions provide organizations with data storage and processing capabilities over the cloud. The growing business demand for maximum flexibility of resources and the change in technology requirements are expected to make cloud-based and hosted solutions the dominant model in the future. With the growing adoption of cloud, the movement of solution providers offering full suites of contact center applications is also growing, thus highlighting the benefits offered by the solution.

IT & Telecom Industry is Expected to Hold Largest Share

Cloud-based contact centers are seeing growing adoption in the IT & telecom industry. The telecom industry currently serves all other industries in the market. With advancements in technology and increasing adoption of modern connectivity systems, the demand for communication services in industries such as automotive, retail, energy and power, government services, IT sector, and other industries employing the technology, has seen an incremental growth over the past decade. The IT & telecom industry serves as a critical link for every industry to operate without interruptions. With the advent of cloud, the dependence on communication services is growing. Many large players in the telecom industry are venturing into this market, providing cloud-based contact centers. Their services also include system integration, security, and customization according to the vendor requirements. Thus, changing consumer requirements in the industry are driving the growth of cloud-based contact centers.

North America is the Major Contributor to the Market

The North American market has been the focus for cloud-based contact center companies. This market is the highest contributor to cloud-based contact centers. The United States is the major contributor to the North American market, due to early adoption and huge investment in cloud-based services and solutions. Companies in this region are looking to scale-up their customer services operations to meet the growing demand, thus implicitly impacting the growth of the market. Outsourcing management and expertise are growing constantly, as organizations in this region look to stay focused on their core business.

Key Developments in the Market

October 2017 - Oracle launched an autonomous cloud database capable of patching cyber security weaknesses on its own accord. Oracle Autonomous Database Cloud uses machine learning to eliminate human maintenance and error, offering self-driving, self-scaling, and self-repairing database functions.

The major players include - ORACLE CORPORATION, CISCO SYSTEMS, INC., GENESYS TELECOMMUNICATIONS LABORATORIES, INC., 3CLOGIC INC., INTERACTIVE INTELLIGENCE, INC., CONNECT FIRST INC., FIVE9 INC., MITEL NETWORKS CORPORATION, ASPECT SOFTWARE PARENT INC., 8X8, INC., and INCONTACT, INC., amongst others.

Reasons to Purchase the Report

Current and future cloud-based contact center market analysis in the developed and emerging markets

Analyzing various perspectives of the market with the help of Porter's five forces analysis

The segment that is expected to dominate the market

Regions that are expected to witness fastest growth during the forecast period

Identify the latest developments, market shares, and strategies employed by the major market players

3 month analyst support, along with the Market Estimate sheet (in Excel)

Customization of the Report

This report can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.

Table of Contents
Product Code: 46425

Table of Contents

1. Introduction

  • 1.1 Key Deliverables of the Study
  • 1.2 Study Assumptions
  • 1.3 Market Definition
  • 1.4 Key Findings of the Study

2. Research Approach and Methodology

3. Executive Summary

4. Market Insights

  • 4.1 Market Overview
  • 4.2 Industry Attractiveness - Porter's Five Industry Forces Analysis
    • 4.2.1 Bargaining Power of Suppliers
    • 4.2.2 Bargaining Power of Consumers
    • 4.2.3 Threat of New Entrants
    • 4.2.4 Threat of Substitute Products or Services
    • 4.2.5 Competitive Rivalry among Existing Competitors

5. Market Dynamics

  • 5.1 Factors Driving the Market
    • 5.1.1 Increasing Demand for Cloud-based Solutions
    • 5.1.2 Reduced Capital Expenses and Faster Deployment
  • 5.2 Factors Restraining the Market
    • 5.2.1 Security Concerns

6. Technology Snapshot

7. Global Cloud-based Contact Center Segmentation

  • 7.1 By Solutions
    • 7.1.1 Automatic Call Distribution
    • 7.1.2 Agent Performance Optimization
    • 7.1.3 Dialers
    • 7.1.4 Interactive Voice Response
    • 7.1.5 Computer Telephony Integration
    • 7.1.6 Analytics and Reporting
  • 7.2 By Services
    • 7.2.1 Managed Services
    • 7.2.2 Professional Services
  • 7.3 By Deployment Type
    • 7.3.1 On-premise
    • 7.3.2 Cloud
  • 7.4 By End User
    • 7.4.1 BFSI
    • 7.4.2 IT and Telecom
    • 7.4.3 Media and Entertainment
    • 7.4.4 Retail and Consumer
    • 7.4.5 Logistics and Transport
    • 7.4.6 Healthcare
    • 7.4.7 Others
  • 7.5 By Geography
    • 7.5.1 North America
    • 7.5.2 Europe
    • 7.5.3 Asia-Pacific
    • 7.5.4 Middle East & Africa
    • 7.5.5 Latin America

8. Competitive Intelligence - Company Profiles

  • 8.1 Oracle Corporation
  • 8.2 Cisco Systems, Inc.
  • 8.3 Genesys Telecommunications Laboratories, Inc.
  • 8.4 3CLogic Inc.
  • 8.5 Interactive Intelligence, Inc.
  • 8.6 Connect First Inc.
  • 8.7 Five9 Inc.
  • 8.8 Mitel Networks Corporation
  • 8.9 Aspect Software Parent Inc.
  • 8.10 8X8, Inc
  • 8.11 InContact, Inc.

List is Not Exhaustive

9. Investment Analysis

10. Outlook of the Market

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