Sandy, Utah, USA, Nov. 13, 2022 (GLOBE NEWSWIRE) -- Custom Market Insights has published a new research report titled “Cloud-Based Contact Center Market Size, Trends and Insights By Component (Services, Solutions), By Deployment (Private, Public, Hybrid), By Organization (Large enterprises, Small and medium enterprises), By End User (BFSI, Government, Telecommunication and information technology, Travel and hospitality, Retail and consumer goods, Entertainment and media, Others), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2022–2030” in its research database.
“According to the latest research study, the demand for global Cloud Based Contact Center Market size & share was valued at approximately USD 13.45 Billion in 2021 and is expected to reach USD 18.77 billion in 2022 and is expected to reach a value of around USD 60.77 Billion by 2030, at a compound annual growth rate (CAGR) of about 26.48% during the forecast period 2022 to 2030.”
In recent years, cloud computing has been in great demand, expected to lead to market growth. Affordability, scalability, and flexibility are some factors that will help develop market growth. In addition, social media, mobile apps, voice, web chat, and video are the different types of channels used for customer communication, and transparent communication is enhanced due to the increased adoption of contact centers that use cloud-based systems.
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Market Dynamics
Drivers
To handle customer relationships, there is an evolution in contact centers. Increased use of multi-function units for managing customer relationships will help grow the market. The outbound calls, as well as the inbound calls, are collected in the contact centers through modern technologies. There has been an increased use of emails, chats, and web inquiries. Organizations’ increased adoption of cloud technologies, social media, and analytics will help them achieve great results.
Business operations of various organizations are enhanced due to this technology, which shall promote market growth in the coming year. Increased use of the contact centers of virtual type or video calls will lead to the market’s growth.
Restraints
Much critical information is available online in the digital world. Much sensitive data is also stored, and cybercriminals target all this information. When it comes to the handling of all of this valuable information about the customers, organizations take great precautions. Even though organizations make great efforts, cyber-attacks are very common. Cloud cyber-attacks have increased in recent years, which shall be a major restraint in the Cloud based Contact Center market’s growth. Organizations have adopted robust solutions to enhance their security.
(A free sample of the Cloud Based Contact Center report is available upon request; please contact us for more information.)
Our Free Sample Report Consists of the following:
- Introduction, Overview, and in-depth industry analysis are all included in the 2022 updated report.
- The COVID-19 Pandemic Outbreak Impact Analysis is included in the package
- About 220+ Pages Research Report (Including Recent Research)
- Provide detailed chapter-by-chapter guidance on the Request
- Updated Regional Analysis with a Graphical Representation of Size, Share, and Trends for the Year 2022
- Includes Tables and figures have been updated
- The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
- Custom Market Insights (CMI) research methodology
(Please note that the sample of the Cloud Based Contact Center report has been modified to include the COVID-19 impact study prior to delivery.)
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Opportunities
One of the best opportunities provided in the market is that of customer service. Most organizations have increased their focus on delivering great customer service. It helps in increasing the revenue for the organizations. When it comes to specific services or products, a good experience is provided to the consumers, which will play an extremely important role in the market’s growth. Improved customer feedback also offers great opportunities for the development of the market. Increased use of various technologies like artificial intelligence will also help the market’s growth.
Challenges
Increased use of cloud technologies in recent years for most modern businesses has made it a little difficult the operation the industry. Many organizations have adopted cloud-based platforms to have flawless and innovative customer experiences. Even though it provides many benefits like constant innovation, reduction in cost, flexibility, and integrated reporting, it still happens to be a risky and complex job.
Meeting the demands of consumers through various channels becomes extremely difficult and complicated. If an organization fails to give good service to a consumer, there has also been an increased risk of this failure being amplified. All these reasons will be the major challenges to the market’s growth.
Key questions answered in this report:
- What is the size of the Cloud Based Contact Center market and what is its expected growth rate?
- What are the primary driving factors that push the Cloud Based Contact Center market forward?
- What are the Cloud Based Contact Center Industry's top companies?
- What are the different categories that the Cloud Based Contact Center Market caters to?
- What will be the fastest-growing segment or region?
- In the value chain, what role do essential players play?
- What is the procedure for getting a free copy of the Cloud Based Contact Center market sample report and company profiles?
Click Here to Access a Free Sample Report of the Global Cloud Based Contact Center Market @ https://www.custommarketinsights.com/report/cloud-based-contact-center-market/
Report Highlights
Based on the component, the solution segment is expected to have a larger market share in the coming years. The increased use of managed and professional services has increased, and the market is expected to grow well. In addition, increased IVR, CTI, and ACD will provide good opportunities for market growth.
Based on Deployment, the public segment is expected to have a larger market share in the coming year. As the cloud-based system is lower in cost, many vendors have adopted this model. In addition, maintenance services are also provided free of charge, which is a driving factor.
Based on Organization, large enterprises will have the maximum share in the coming years due to the increased use of advanced technologies. In addition, banking and financial institutions shall adopt cloud-based contact centers on a large scale due to the various benefits associated with their incorporation.
Key Offerings:
- Market Share, Size & Forecast by Revenue | 2022−2030
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Leading Trends
- Market Segmentation – A detailed analysis by Types of Services, by End-User Services, and by Regions
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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Report Scope
| Feature of the Report | Details |
| Market Size in 2021 | USD 13.45 billion |
| Projected Market Size in 2030 | USD 60.77 billion |
| CAGR Growth Rate | 26.48% CAGR |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Prominent Players | NICE (Israel), Talkdesk (US), 8×8 (US), Cisco (US), Genesys (US), Five9 (US), Vonage (US), Avaya (US), and Others |
| Key Segment | By Component, Deployment, Organization, End User, and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors, and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfill your requirements for research. Buy Now |
Regional Snapshots
The North American region is expected to grow well in the coming years. In terms of revenue, it had a market share of U.S. dollars 3.60 billion in the past, and it will continue to grow well in the coming years. Many vendors in the North American market provide innovative solutions, so the market is expected to grow.
The presence of the companies like Cisco, Microsoft, and Oracle will help grow the market. Investments have also increased to have better developmental and research activities in this region, which shall help the market’s growth in the coming years. In addition, increased use of cloud-based systems by various organizations will help enhance the business’s operations. Remote working has increased in recent years, and the market for cloud-based systems is expected to grow in the coming years due to this trend. The European market is also expected to grow in the coming years.
The Cloud-based Contact Center market is expected to grow well as there has been an increase in the use of cloud-based services. Adopting the advanced features in the contact centers will drive market growth in the European region. Increased use of cloud-based solutions in the Asia Pacific region will lead to the development of the market, especially for countries like India and China. There shall be increased adoption of these systems in Japan and South Korea. Digitization has played an extremely significant role in the growth of the Cloud Based Contact Center market.
Key Players
- NICE (Israel)
- Talkdesk (U.S.)
- 8×8 (U.S.)
- Cisco (U.S.)
- Genesys (U.S.)
- Five9 (U.S.)
- Vonage (U.S.)
- Avaya (U.S.)
Recent Developments
- During the outbreak of the COVID-19 pandemic, free access for three months was provided by Talkdesk for the organizations to continue their business. Free access would help the employees working from home accelerate their work with the help of Talkdesk Boost.
Segments covered in the report
By Component
- Services
- Solutions
By Deployment
- Private
- Public
- Hybrid
By Organization
- Large enterprises
- Small and medium enterprises
By End User
- BFSI
- Government
- Telecommunication and information technology
- Travel and hospitality
- Retail and consumer goods
- Entertainment and media
- Others
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On the basis of Geography
North America
- The U.S.
- Canada
- Mexico
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
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This Cloud Based Contact Center Market Research/Analysis Report Contains Answers to the following Questions.
- Which Manufacturing Technology is used for Cloud Based Contact Center? What Developments Are Going on in That Technology? Which Trends Are Causing These Developments?
- Who Are the Global Key Players in This Cloud Based Contact Center Market? What are Their Company Profile, Their Product Information, and Contact Information?
- What Was the Global Market Status of the Cloud Based Contact Center Market? What Was the Capacity, Production Value, Cost and PROFIT of the Cloud Based Contact Center Market?
- What Is the Current Market Status of the Cloud Based Contact Center Industry? What's Market Competition in This Industry, Both Company and Country Wise? What's Market Analysis of Cloud Based Contact Center Market by Considering Applications and Types?
- What Are Projections of the Global Cloud Based Contact Center Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about imports and exports?
- What Is Cloud Based Contact Center Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
- What Is Economic Impact on Cloud Based Contact Center Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
- What Are the Market Dynamics of the Cloud Based Contact Center Market? What Are Challenges and Opportunities?
- What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Cloud Based Contact Center Industry?
Directly Purchase a copy of the Cloud Based Contact Center report [220+ Pages] @ https://www.custommarketinsights.com/report/cloud-based-contact-center-market/
Reasons to Purchase Cloud Based Contact Center Market Report
- Cloud Based Contact Center Market Report provides qualitative and quantitative market analysis based on segmentation involving economic and non-economic factors.
- Cloud Based Contact Center Market report outlines market value (USD) data for each segment and sub-segment.
- This report indicates the region and segment expected to witness the fastest growth and dominate the market.
- Cloud Based Contact Center Market Analysis by geography highlights the consumption of the product/service in the region and indicates the factors affecting the market within each region.
- The competitive landscape incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled.
- Extensive company profiles comprising company overview, company insights, product benchmarking, and SWOT analysis for the major market players.
- The Industry's current and future market outlook concerning recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging and developed regions.
- Cloud Based Contact Center Market Includes in-depth market analysis from various perspectives through Porter's five forces analysis and provides insight into the market through Value Chain.
Click Here to Access a Free Sample Report of the Global Cloud Based Contact Center Market @ https://www.custommarketinsights.com/report/cloud-based-contact-center-market/
Reasons for the Research Report
- The study provides a thorough overview of the global Cloud Based Contact Center market. Compare your performance to that of the market as a whole.
- Aim to maintain competitiveness while innovations from established key players fuel market growth.
What does the report include?
- Drivers, restrictions, and opportunities are among the qualitative elements covered in the worldwide Cloud Based Contact Center market analysis.
- The competitive environment of current and potential participants in the Cloud Based Contact Center market is covered in the report, as well as those companies' strategic product development ambitions.
- According to the component, application, and Industry Vertical, this study analyzes the market qualitatively and quantitatively. Additionally, the report offers comparable data for the important regions.
- For each segment mentioned above, actual market sizes and forecasts have been given.
Who should buy this report?
- Participants and stakeholders worldwide Cloud Based Contact Center market should find this report useful. The research will be useful to all market participants in the Cloud Based Contact Center Industry.
- Managers in the Cloud Based Contact Center sector are interested in publishing up-to-date and projected data about the worldwide Cloud Based Contact Center market.
- Governmental agencies, regulatory bodies, decision-makers, and organizations want to invest in Cloud Based Contact Center products' market trends.
- Market insights are sought for by analysts, researchers, educators, strategy managers, and government organizations to develop plans.
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