Market Scope
Market Research Future (MRFR) published its latest report on the “Cloud-Based Contact Center Market”. As per the study, the cloud-based contact center global market can increase expand at 25% CAGR by 2023. The rational approach of MRFR towards the cloud based contract center market includes primary and secondary studies with modern, research methodologies. The cloud based contract center 2020 can rise exponentially owing to the penetration of digitalization in the IT sector. In 2017, the cloud based contract center was recorded at USD 6.47 billion in 2017. MRFR states that by 2023, the market can value at USD 24.11 Bn. The growing need for cloud compliance and ride in pay-per-use -subscription pricing model adoption by end-users can boost the Cloud-Based Contact Center Market Size. The spreading awareness of several cloud-based contact center market trends can spawn the market rise.
Market Synopsis
Social media platforms, the web, voice, and emails are some tools that support connections and hold significant place in cloud contact centers. The ease of accessibility offered by these tools allows cloud-based centers to operate virtually from remote location. This can prompt the expansion of the cloud based contract center market. Cloud contact centers can aid in improving ROI, slash price, enhance flexibility, rise scalability, optimize agent efficiency, and provide better experiences to both customers and employees. In addition, the expansion of the cash-rich IT & telecom sector can improve the market impetus through the review period. On the downside, the high risk of data breach and lack of awareness about the potential of cloud-based contact centers can hinder the rise of the cloud-based contact center market.
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Market Segmental Analysis
The study of the cloud-based contact center global market is based on deployment model, solution, organization size, services, and verticals. The solution-based segments of the market are automatic call distribution, agent performance optimization, dialers, interactive voice response, security, reporting and analytics, computer telephony integration, and others. The services-based segments of the market are managed service and professional service. The organization size-based segments of the market are SME and large enterprise. The deployment model-based segments of the market are hybrid cloud, public cloud, and private cloud. The vertical-based segments of the market are government and public sector, retail, BFSI, manufacturing, IT & telecommunication, healthcare & life sciences, media & entertainment, and others.
Detailed Regional Assessment
The worldwide market of cloud-based contact center can experience a sharp rise in the review period. The significant surge in the revenue of the market is expected to be at a lucrative CAGR across the evaluation period. The global market of cloud-based contact center appears to be fairly competitive. Regional insights of the market suggests that the overall growth of the cloud-based contact center market in Europe, North America, Asia-Pacific, and the Rest of the World is gradual and possess several growth prospects. The cloud based contract center market in North America can head the global the cloud-based contact center market. The presence of reputed vendors and increase in the adoption of services by them are expected to impel the expansion of the regional market. In Asia Pacific, the cloud-based contact center market can exhibit exponential growth through the assessment period.
Market Key Players
MRFR profiled some well-established contenders in the cloud-based contact center global market. They are; NICE Ltd. (Israel), 8x8 Inc. (US), Genesys (US), Cisco Systems (US), Five9 (US), Aspect Software (US), Connect First (US), NewVoiceMedia (UK), Oracle Corporation (US), 3CLogic (US), inContact, Inc.(US), Extreme Networks, Liveops, Inc. (US), Accurate Always, Inc.(US), Interlink Network Systems (US), CCT Solutions (US), Servion Global Solutions (India), KM2 Solutions (US), and others.
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Cloud-Based Contact Center Market Research Report: Information by Technology (Hall Effect, Magneto Resistive, Variable Reluctance), By Application (Automotive, Industrial, Aerospace & Defense, Consumer Electronics) and Region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America)—Forecast till 2030
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