CHICAGO, May 6, 2024 /PRNewswire/ -- Cloud-based contact
centre market trends for the future include
seamless omnichannel communication, support for remote
workforce enablement, and faster adoption of AI and automation.
Along with a focus on customer-centric innovation, worldwide
expansion, and sustainability initiatives, integration with the CX
ecosystem, sophisticated analytics, security, and compliance will
be important drivers.
The Cloud-based Contact Center Market is projected
to grow from USD 26.2 billion in 2024
to USD 86.4 billion by 2029, at a
compound annual growth rate (CAGR) of 26.9% during the forecast
period, according to a new report by MarketsandMarkets™. The
Cloud-based Contact Center Market is expected to grow significantly
during the forecast period, owing to various business drivers like
rising requirement for customized and streamlined engagements,
increasing significance of social media in contact center
operations, sustained adoption of cloud technology in contact
center infrastructure, and rapid rise in the implementation of
next-gen contact center technologies.
Browse in-depth TOC on "Cloud-based Contact Center
Market"
299 – Tables
67 - Figures
359 – Pages
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Scope of the Report
Report
Metrics
|
Details
|
Market size available
for years
|
2019–2029
|
Base year
considered
|
2023
|
Forecast
period
|
2024–2029
|
Forecast
units
|
USD
(Billion)
|
Segments
Covered
|
Offering, Application,
Communication Channel, Vertical, and Region
|
Geographies
covered
|
North America, Asia
Pacific, Europe, Middle East & Africa, and Latin
America
|
Companies
covered
|
NICE (Israel), AWS
(US), Genesys (US), Vonage (US), Five9 (US), Talkdesk (US), Cisco
(US), Avaya (US), Zoho (India), 8x8 (US), Verizon (US), Alvaria
(US), Amelia (US), Twilio (US), CloudWave (Australia), Content Guru
(UK), RingCentral (US), 3CLogic (US), Enghouse Interactive (US),
Vocalcom (France), Evolve IP (US), Sprinklr (US), Mitel (Canada),
BT Group (UK), Pypestream (US), TechSee (Israel), Aircall (France),
Sentient Machines (UK), Nubitel (Singapore), JustCall (US),
Dialer360 (UK), Servetel (India), NeoDove (India), and Rulai
(US).
|
By Software type, omnichannel routing software type to
register for the largest market share during the forecast
period
Omnichannel routing software type is projected to hold the
largest market share in the Cloud-based Contact Center Market
during the forecast period due to its ability to seamlessly
integrate multiple communication channels, such as voice, email,
chat, social media, and more. This software type addresses the
growing demand for unified customer experiences, allowing
businesses to efficiently manage interactions across various
channels from a single platform. With consumers increasingly
expecting consistent and personalized engagement regardless of
channel, omnichannel routing software offers the flexibility and
efficiency that contact centers need to meet these
expectations.
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By communication channel, self-service segment is poised for
the fastest growth rate during the forecast period
Self-service communication channel is poised for the fastest
growth in Cloud-based Contact Center Market due to their efficiency
and convenience. As customers increasingly seek quick resolutions
and personalized experiences, self-service options such as
AI-powered chatbots, interactive voice response (IVR) systems, and
knowledge bases offer round-the-clock assistance without the need
for agent intervention. This not only reduces operational costs for
businesses but also provides customers with immediate access to
information and support, driving satisfaction and loyalty. The
scalability and flexibility of cloud-based contact center solutions
further enhance the appeal of self-service channels, making them a
key driver of growth in the coming years.
By region, North America to
account for the largest market during the forecast period
The region's robust IT infrastructure and early adoption of
cloud technologies have paved the way for widespread acceptance of
cloud-based contact center solutions. Additionally, the presence of
major market players and technological innovators in the region,
particularly in the United States
and Canada, drives continuous
advancements and deployments of cloud contact center services.
Furthermore, the growing emphasis on customer experience and the
need for scalable, flexible, and cost-effective customer
interaction solutions propel the demand for cloud-based contact
centers, with North American businesses recognizing the efficiency
gains and agility afforded by these platforms.
Top Key Companies in Cloud-based Contact Center
Market:
Some major players in the Cloud-based Contact Center Market
include NICE (Israel),
AWS (US), Genesys (US), Vonage (US),
Five9 (US), along with startups such as Pypestream (US), TechSee
(Israel), Aircall (France), Sentient Machines (UK), Nubitel
(Singapore).
Recent Developments:
- In March 2024, Vonage announced
the addition of Vonage Enhanced Noise Cancellation to the Vonage
Contact Center (VCC). This noise and echo cancellation feature uses
machine learning to eliminate disruptive background noises and
voices, boosting agent productivity, reducing average handle time,
and improving the overall customer experience.
- In March 2024, Five9 announced
GenAI Studio, an industry-first solution that allows organizations
to customize general-purpose, off-the-shelf generative AI models,
such as OpenAI, for the contact center with just a few clicks.
- In December 2023, NICE announced
the launch of the 2023 CXone Fall Release, expanding AI and
automation and increasing openness across the CXone platform. CXone
is the industry's leading interaction-centric platform, enabling
organizations to effectively manage all interactions—attended and
unattended. As organizations look to infuse AI and automation
throughout their CX operations, this release further enhances
NICE's leadership gap with unique capabilities that allow
organizations to succeed and compete in the digital era.
- In June 2023, Genesys
collaborated with Lighthouse Works, which has resulted in
significant career opportunities for the Blind or Visually Impaired
(BI). According to Lighthouse Works, using the Genesys Cloud CX
platform integrated with its proprietary API, Lighthouse Works
created more than 25% of new blind jobs in the US last year.
- In December 2022, AWS partnered
with Stability AI to build and grow its AI models for creating
pictures, language, audio, video, and 3D content. Stability AI
accelerated its work on open-source generative AI models by
utilizing Amazon SageMaker (AWS's end-to-end machine learning
service) and AWS's computer and storage infrastructure. Stability
AI will work with Amazon to make its open-source tools and models
accessible to startups, academics, and businesses worldwide.
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Cloud-based Contact Center Market Advantages:
- Scalability is a feature of cloud-based contact centres that
enables companies to quickly scale up or down in response to
varying call volumes, seasonal needs, or corporate expansion
without having to make large infrastructure investments.
- These solutions enable distributed teams, remote work, and
company continuity in the event of disruptions or emergencies by
giving agents the freedom to work remotely from any location with
an internet connection.
- By providing a pay-as-you-go pricing model where businesses
only pay for the products and resources they use, cloud-based
contact centres save upfront capital expenses and total cost of
ownership. They also do away with the need for on-premises hardware
and maintenance costs.
- With less setup and configuration needed, cloud-based contact
centre systems may be rapidly and simply implemented, allowing
businesses to react more swiftly to changes in the market or in
customer expectations.
- These solutions enable businesses to provide individualised
customer experiences, streamline workflows, and consolidate
customer data by offering seamless interaction with other company
systems including CRM, helpdesk, and marketing automation
platforms.
- In the event of system failures or outages, cloud-based contact
centres include built-in disaster recovery and redundancy features,
including data backup, failover, and redundancy techniques to
maintain company continuity and minimise downtime.
- Businesses may serve clients worldwide using cloud-based
contact centres because they may set up virtual contact centres in
several locations, customise customer experiences, and adhere to
local laws and data protection standards.
Report Objectives
- To define, describe, and predict the Cloud-based Contact Center
Market by offering (software (type, engagement type, deployment
mode) and services), communication channel, application, vertical,
and region
- To provide detailed information related to major factors
(drivers, restraints, opportunities, and industry-specific
challenges) influencing the market growth
- To analyze the micro markets with respect to individual growth
trends, prospects, and their contribution to the total market
- To analyze the opportunities in the market for stakeholders by
identifying the high-growth segments of the Cloud-based Contact
Center Market
- To analyze the opportunities in the market and provide details
of the competitive landscape for stakeholders and market
leaders
- To forecast the market size of segments for five main regions:
North America, Europe, Asia
Pacific, Middle East &
Africa, and Latin America
- To profile key players and comprehensively analyze their market
rankings and core competencies.
- To analyze the competitive developments, such as partnerships,
product launches, and mergers & acquisitions, in the
Cloud-based Contact Center Market
- To analyze the impact of recession across all regions in the
Cloud-based Contact Center Market
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