The latest research study “Cloud-based Contact Center Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global cloud-based contact center market reached a value of US$ 17.7 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 63.8 Billion by 2027, exhibiting a CAGR of 23.10% during 2022-2027.

A cloud-based contact center solution combines all inbound and outbound customer communications channels into a single system allowing agents to connect with customers over a phone call, email, or message while maintaining a consistent record. It offers workforce management tools, enabling agents and supervisors to manage their time effectively. It also provides various benefits, such as advanced functionality, reduced costs, improved return on investment (ROI), better customer experiences, optimized agent efficiency, enhanced scalability, and flexibility. As a result, cloud-based contact center services are widely adopted in consumer goods, retail, telecommunication, government, public, healthcare, information technology (IT), manufacturing, and banking, financial services and insurance (BFSI) sectors across the globe.

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Covid-19 Impact: (Positive)

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report. The industry is segmented by size and region. The report provides an analysis of the key trends in each sub-segment of the market, along with forecasts at the global and regional level from 2022-2027. The report also includes competitive landscape of major key players in the industry along with emerging trends in the market.

Global Cloud-based Contact Center Market Trends and Drivers: 

The market is primarily driven by the rising need for efficient communication systems across multiple sectors. This is escalating the demand for cloud-based contact center solutions due to their robust scalability, features, affordability, and flexibility. In addition, various organizations are migrating their contact center operations from a traditional on-premises model to a cloud-based contact center, which acts as another major growth-inducing factor. Moreover, the sudden outbreak of the coronavirus disease (COVID-19) pandemic and the increasing adoption of remote working practices to enhance the productivity and overall operational efficiency of workers have accelerated the utilization of cloud solutions across various countries.

Apart from this, the rapid digitalization in the banking, financial service, and insurance (BFSI) industry, along with the increasing utilization of contact center as a service (CCaaS) technology to minimize ownership costs, reduce downtime, and ensure business continuity is positively influencing the market growth. Furthermore,  extensive research and development (R&D) activities conducted by the leading players to deliver natural interactive voice response (IVR) and the integration of machine learning (ML) and artificial intelligence (AI) technologies with the cloud-based contact center solutions are also creating a positive market outlook across the globe.

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Report Segmentation:

The report has been segmented the market into following categories:

Breakup by Component:

• Solution

• Automatic Call Distribution
• Agent Performance Optimization
• Dialers
• Interactive Voice Response
• Computer Telephony Integration
• Analytics and Reporting
• Professional Services
• Managed Services

• Service

Breakup by Deployment Mode:

• Public Cloud
• Private Cloud
• Hybrid Cloud

Breakup by Organization Size:

• Small and Medium-sized Enterprises
• Large Enterprises

Breakup by End Use Industry:

• BFSI
• IT and Telecom
• Media and Entertainment
• Retail
• Logistics and Transport
• Healthcare
• Others

Breakup by Region:

• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

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List of Major Key Players:

The major players in the market are 3CLogic, 8×8 Inc., Avaya Inc., Cisco Systems Inc., Content Guru Limited, Five9 Inc., Genesys, NICE Ltd., RingCentral Inc., Talkdesk, Twilio Inc., Vocalcom and Vonage.

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