Global Cloud-Based Contact Center Market


New York, Dec. 20, 2021 (GLOBE NEWSWIRE) — announces the release of the report “Global Cloud-Based Contact Center Market” –

Revenue forecasts for this period are segmented based on component, deployment mode, organization size, end-user industry and region. Market values have been estimated based on the total segmental revenue of the solutions and services offered aimed at improving contact center operations.

The report covers the market for cloud-based contact center solutions with regards to their deployment across different regions. It also focuses on the major trends and challenges that affect the market and the vendor landscape.

Report Includes:
– 50 data tables and 31 additional tables
– An overview of the global cloud-based contact center market
– Estimation of the market size and analyses of global market trends, with data from 2020, estimates for 2021, 2022, 2024 and projections of compound annual growth rates (CAGRs) through 2026
– Highlights of the market potential for cloud-based contact center market based on component, deployment mode, organization size, end-user industry and region
– Identification of market drivers, restraints and other forces impacting the global market and evaluation of current market size and forecast, and assessment of new developments in the industry
– Market share analysis of the key companies of the industry and coverage of their proprietary technologies, strategic alliances and other key market strategies
– Comprehensive company profiles of the leading players, including 1Stream Inc., Amazon Web Services Inc., Five9 Inc., Oracle Corp. and Teleforge Corp.

A cloud-based contact center is typically a comprehensive set of cloud-hosted services, tools and applications for contact centers, usually deployed in enterprises that require several communication channels (including voice, email, social media and web), agent management, sophisticated call routing and analytics. Following the COVID-19 pandemic, cloud-based contact centers are increasingly being preferred by enterprises to handle inbound and outbound customer communications effectively and to deliver flexibility in managing customer service operations with the help of remote workforce.

Cloud-based solutions provide high levels of business continuity, as cloud service providers often provide backup service as a default offering.Owing to this, businesses can achieve increased productivity, as they can completely focus on the performance of their employees rather than worrying about the hardware/system maintenance.

Such benefits of cloud-based solutions are expected to drive the demand for the market studied.

Cloud-based contact centers also provide the benefit of lower capital expenditure requirements, thus making the business more compelling. Deploying a cloud-based solution can bring down the CapEx requirement significantly, as the businesses need not invest in hardware components.

The cloud-based solution experienced tremendous growth in the past few years, as this technology allows the user to access the data from remote locations as well. The increasing realization among companies about the importance of saving money and resources by moving their data to the cloud, rather than building and maintaining on-premise infrastructure, is driving the demand for cloud-based solutions and, hence, the adoption of cloud-based contact center services.

According to the Cisco Global Cloud Index, it is estimated that by end of 2021, 94% of all workloads and computing instances will be processed by cloud data centers, with only 6% by traditional data centers.This points to the global potential for cloud-based deployment of contact centers in the near future.

Digital transformation and the application of advanced technologies, such as artificial intelligence (AI), unified omnichannel communications, and machine-to-machine communications via the Internet-of- Things (IoT), have opened a whole new window of opportunity for the players in the contact center market to go further into predictive analytics, to help streamline call center experiences for customers and agents.

The impact of the COVID-19 crisis has forced the businesses to adhere to strict requirements to ensure the ongoing safety of their employees and customers alike.The need for remote working has resulted in a sudden shift from traditional on-premise contact centers to cloud-based contact centers.

This could be observed as a notable trend in the foreseeable future, as remote working became the new normal.

However, cloud-based offerings bring many unique security issues and challenges.Data stored in the cloud with a third-party provider can be accessed by the provider, thus resulting in poor visibility and limited control over that data.

Though the majority of the companies keep customer data on their own premises, they still need a connection to the cloud provider to handle screen pops and data lookup, among other things. With the associated threats, certain businesses are still reluctant to incorporate these solutions, which is a challenge for the market.
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