Cloud-based Contact Center Market to reach 44.86 Billion by 2026 |CAGR: 23.11%

The Cloud-based Contact Center Market report offers an in-depth assessment of market dynamics, the competitive landscape, segments, and regions in order to help readers to become familiar with the Cloud-based Contact Center market. It particularly sheds light on market fluctuations, pricing structure, uncertainties, potential risks, and growth prospects to help players to plan effective strategies for gaining successful in the Cloud-based Contact Center market. Importantly, it allows players to gain deep insights into the business development and market growth of leading companies operating in the Cloud-based Contact Center market.

“The cloud-based contact center market was valued at USD 13.67 billion in 2019, and it is expected to reach USD 44.86 billion by 2025, at a CAGR of 23.11% over the forecast period (2020 – 2025).”

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Top Leading Companies of Cloud-based Contact Center Market are Avaya Contact Center (Ayaya Group), RingCentral Inc., Genesys Telecommunications Laboratories Inc., 3CLogic Inc., Connect First Inc., Five9 Inc., Mitel Networks Corporation, Aspect Software Parent Inc., 8X8 Inc., Avaya Holdings Corp., NICE inContact, Teleforge Corporation, 1Stream Inc., AVOXI Inc. and others.

Industry News and Updates:

April 2019 – ZephyrTel announced that it signed a telecom-focused strategic collaboration agreement with Amazon Web Services (AWS) to migrate ZephyrTel solutions to AWS, including OASIS Cloud Contact Center.

September 2019 – Avaya rolled out new features to its Cloud-based Contact Center offerings. These include (a) Avaya IX Teamspace provides media chat and messaging capabilities among customers, agents and back-office staff, (b) Avaya IX Dashboard, an open, modular dashboard that delivers a snapshot of the performance of the customer journey and associated customer experience with improved analytics, (c) Agent Scripting – a browser-based call-flow scripting platform that provides the ability to define inbound and outbound call flows.

Key Market Trends:

BFSI to Witness the Highest Growth Rate over the Forecast Period

– The BFSI sector is expected to witness significant growth for cloud-based contact centers. Many financial institutions are adopting cloud-based solutions in order to make the facilities convenient. The banking industry is becoming digital, with the increased adoption of cloud platforms.

– For instance, Ameyo, a computer software enterprise, offers cloud-based contact center software for the banking sector. According to Ameyo, the customer base for BFSI companies is becoming huge, thus creating the need for high levels of customer service. The customer interactions in the Banks and other Financial Institutions are very sensitive. It requires a sophisticated customer interaction software that helps to store, process, and analyze the data in an efficient and cost-effective manner.

– According to Financial News London, 80% of a bank’s IT spending is on legacy technology maintenance, and up to USD 300 million is spent every year managing and maintaining these disparate systems. This factor is forcing banks to invest in a cloud solution, whether it be on-premises or private and public cloud services, to achieve greater scalability and integrated communication between disparate systems.

Investigator Observers Strong Growth in Specific Regions:

– Europe Market (Germany, UK, France, Russia, Italy)

– Center East and Africa Market (Saudi Arabia, UAE, Egypt, Nigeria, South Africa)

– South America Market (Brazil, Argentina, Colombia)

– North America Market (United States, Canada, Mexico)

– Asia Pacific Market (China, Japan, Korea, India, Southeast Asia).

The Latest Industry Data Included in this Report:
– Cloud-based Contact Center Market Size & Analysis (2016 – 2026)
– Market Share Analysis of Cloud-based Contact Center Market (%),2016 – 2026
– Cloud-based Contact Center Market Share, By Brand
– Cloud-based Contact Center Market Share, By Company
– Cloud-based Contact Center Market Assessment & Opportunity (Value),2016 – 2026
– Major Companies Cloud-based Contact Center Market Value Analysis & Forecast
– Promising Cloud-based Contact Center Development by Major Companies
– Detailed Cloud-based Contact Center Portfolio of the Major Companies
– Major Deals in the Cloud-based Contact Center Market
– Major Companies Analysis

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