Jul 22, 2020 (AmericaNewsHour) -- Global Cloud-Based Contact Center Market was valued at USD 6.9 Billion in the year 2017. Global Cloud-Based Contact Center Market is further estimated to grow at a CAGR of 26.3% from 2018 to reach USD 28.1 Billion by the year 2025. North America region holds the highest Market share in 2016 and Asia Pacific Market is considered as the fastest growing Market in the forecasted period. The Market in North America is expected to have the largest Market share due to the presence of major vendors and an increase in adoption of associated services. At country level China, Japan and India are projected to grow at a strongly in the coming years.
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Major market players in Cloud-Based Contact Center Market are Oracle Corp., Cisco Systems, Inc., Genesys Telecommunications Laboratories Inc., Connect First Inc., 3CLogic Inc., Interactive Intelligence Inc., Connect First Inc., Five9 Inc., 8X8 Inc., InContact Inc., and brief overview of 10 companies is also provided in the report. Rising research and development expenses to cater to changing demand of end users. Similarly, growth strategies such as acquisition, merger, and expansion of the distribution network were few techniques adopted by most of Tier 1 and Tier 2 manufacturers in recent years.
SWOT Analysis of Cloud-Based Contact Center Market
Increasing Demand for Cloud-based Solutions
Reduced Capital Expenses and Faster Deployment
Improved Business Continuity
Risk of Information Loss
On-Premises Contact Center Technology Covers a Large Portion of the Current Contact Center Market
Improved Customer Experience
Rising Interest of the Major Market Vendors
Maintaining Integration Levels
Poor It Infrastructure for Cloud-Based Contact Center Adoption
The Global Cloud-Based Contact Center Market is segmented on the basis of Solution, By Services, By Deployment Type, By End Users and region. On the basis of the solution, the Market is segmented as Automatic Call Distribution, Agent Performance Optimization, Dialers, Interactive Voice Response, Computer Telephony Integration and Analytics and Reporting of which Baking Powder & Mixes segment is expected to hold the highest Market share during the forecast period.
In the global cloud-based contact center the major shares of the Market on the basis of deployment comes from Cloud and On-premise holds the second position. On the basis of End Users, the Market is segmented as BFSI, IT and Telecom, Media and Entertainment, Retail and Consumer, Logistics and Transport, Healthcare and Others in which IT and Telecom segment holds the highest Market share in the forecasted period and are expected to grow with highest CAGR. Cloud-based contact centers are seeing growing adoption in the IT & telecom Market.
Cloud-Based Contact Center Market Segmentation:
By Deployment Type
By End Users
*IT and Telecom
*Media and Entertainment
*Retail and Consumer
*Logistics and Transport
*Automatic Call Distribution
*Agent Performance Optimization
*Interactive Voice Response
*Computer Telephony Integration
*Analytics and Reporting
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o Rest of Europe
o Rest of Asia-Pacific
o Latin America
o Middle East & Africa
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