Cloud-based contact center is expected to reach staggering market value by 20230

Market Research Future published a half-cooked research report on global cloud-based contact center market research report — forecast till 2030.

Market Highlights

The cloud-based model has a high demand in contact center market for making connections with the help of social media, email, voice and the Web accessible virtually from any location. Pay-per-use subscription pricing model for end-users, improved business continuity, cloud compliance, and improved integration, and usability drives the cloud-based contact center market. However, this market faces some challenges associated with the adoption such as maintaining integration levels and poor IT infrastructure for cloud-based contact centers. Cloud-based contact center market operates in various verticals such as BFSI, retail, government and public sector, healthcare and life sciences, manufacturing, media and entertainment, and IT & telecommunication. IT & telecommunication is expected to hold largest market share during forecast period.

Key players:

The prominent players in cloud-based contact center market are NICE Ltd. (Israel), 8x8 Inc. (US), Five9 (US), Cisco Systems (US), Genesys (US), Oracle Corporation (US), NewVoiceMedia (UK), Connect First (US), Aspect Software (US), and Extreme Networks among others.

Other players in cloud-based contact center market are Liveops, Inc. (US), inContact, Inc.(US), 3CLogic (US), Accurate Always, Inc.(US), Interlink Network Systems (US), KM2 Solutions (US), Servion Global Solutions (India), and CCT Solutions (US) among others.

Regional Analysis

The global market for cloud-based contact center is estimated to grow at a significant rate during the forecast period from 2020 to 2030. The geographical analysis of cloud-base contact center market is studied for North America, Europe, Asia-Pacific, and the rest of the world.

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North America is expected to dominate the cloud-based contact center market during the forecast period. The US is the major contributor to the North American market due to presence of many global players and high adoption of cloud services. Increasing rate of innovation in North American market is accelerating the rate of adoption of cloud-based contact centers. Outsourcing management and expertise is gaining pace, as organizations in this region are looking to stay focused on their core businesses. Latin America and Middle East & Africa (LMEA) is expected to grow steadily due to the increasing trends of cloud services.

Europe is expected grow at a stable rate during the forecast period. Presence of huge car manufacturing sector and healthcare industries drives the cloud-based contact center market in Europe. Asia-Pacific is expected grow at a faster rate during the forecast period due to presence of many IT & telecommunication companies. Due to increasing adoption of electronic devices as well as huge investment in R&D by China and Japan drives the cloud-based contact center market during the forecast period.