The Cloud-based Contact Center Market research report 2021 provides a basic overview of the industry and information regarding market size, share, growth, cost structure, Cloud-based Contact Center market competition landscape, challenges and opportunity, capacity, revenue, and forecast 2025. The report delivers a comprehensive overview of the crucial elements of the market and elements such as drivers, current trends of the past and present times, technological growth. This report also includes the overall and comprehensive study of the Cloud-based Contact Center market with all its aspects influencing the growth of the market. This report is exhaustive quantitative analyses of the market and provides data for making strategies to increase market growth and effectiveness. The report covers the post-COVID-19 impact on various regions and major countries and on the future development of the industry is pointed out.
The cloud-based contact center market was valued at USD 13.67 billion in 2019, and is expected to reach USD 44.86 billion by 2025, at a CAGR of 23.11% over the forecast period (2020 – 2025).
Top Companies in the Cloud-based Contact Center Market: 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.
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– Modern channels can be integrated by using communication application programming interfaces (APIs). Analytics-led insights can then be applied to deliver context-rich and personalized customer experiences. Moreover, as there is no centralized workplace, agents can operate remotely to offer round-the-clock customer care service.
– Cloud-based call centers are slowly substituting the on-premise call centers. According to the State of Customer Experience 2018, the migration of 39% contact centers in the United Kingdom to cloud with 57% of them chalking out an action plan to move to cloud-based call centers within the next three years, indicates the potential for the overall market.
– Cloud contact centers have become a necessary step for companies to adopt a systematic approach that enhances performance, channels support and engagement, reporting and analytics to successfully support a customer base where customer preferences keep changing. The challenge for enterprises lies in choosing the right cloud contact center solution and strategic partner to achieve these goals.
Some of the key developments in the market are:
– 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 Centre.
– September 2019 – Avaya rolled out new features to its Cliud-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
Europe is Expected to be the Fastest Growing Market
– Europe region acts as the headquarter of some of the most important tech hubs in the world and a significant driver and adopter of modern technology. Cost and compliance concerns in the region have driven many organization to migrate to the cloud and enable employee mobility.
– For instance, many European countries are investing heavily in its digital infrastructures, but private and public initiatives have been launched to fill the skills gap and alsoaccelerate the rate of cloud adoption. For instance, the governments of Bulgaria, Poland, and Romania have committed to enhancing their digital infrastructures, while the government of Ukraine is well ahead of its target to double the spending on ICT research and development, by 2020.
– Call centers are an important part of many industries in the United Kingdom. It is expected that nearly one in five call center agents in the United Kingdom work in the finance sector, which is responsible for 18% of the entire workforce. Numerous other sectors are also significant in the UK call center industry, including telemarketing, public sectors, IT and telecommunications, and utility providers. Moreover, the contact center sector continues to grow in Spain.
– According to Germany Trade and Invest (GTAI), Germany’s contact center industry is booming and helping companies worldwide with its CRM needs in Europe and abroad. Hence, with the adoption of cloud-based services across Germany, the United Kingdom, and Spain, the European market is expected to grow over the forecast period.
What are the market factors that are explained in the report?
– Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
– Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
– Analytical Tools: The Cloud-based Contact Center Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
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