Cloud-based Contact Center Market by Component and Geography - Forecast and Analysis 2022-2026

The cloud-based contact center market's growth momentum will accelerate at a CAGR of 19.97% and the market share is expected to increase to USD 27.02 billion from 2021 to 2026.

This cloud-based contact center market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers cloud-based contact center market segmentation by:

• Component - Solutions and Services
• Geography - North America, Europe, APAC, South America, and Middle East and Africa

The cloud-based contact center market vendors are the following - 3CLogic Inc., 8x8 Inc., Alvaria Inc., Amazon.com Inc., Ameyo Pvt Ltd., Avaya Holdings Corp., Cisco Systems Inc., Enghouse Systems Ltd., Evolve IP LLC, Five9 Inc., Genesys Telecommunications Laboratories Inc., Lifesize Inc., NICE Ltd., Nubitel, Redwood Technologies Group Ltd., RingCentral Inc., Talkdesk Inc., Twilio Inc., Vocalcom Group, and Vonage Holdings Corp. among others.

What will the Cloud-based Contact Center Market Size be During the Forecast Period?

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Who are the Major Cloud-based Contact Center Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

• 3CLogic Inc.
• 8x8 Inc.
• Alvaria Inc.
• Amazon.com Inc.
• Ameyo Pvt Ltd.
• Avaya Holdings Corp.
• Cisco Systems Inc.
• Enghouse Systems Ltd.
• Evolve IP LLC
• Five9 Inc.
• Genesys Telecommunications Laboratories Inc.
• Lifesize Inc.
• NICE Ltd.
• Nubitel
• Redwood Technologies Group Ltd.
• RingCentral Inc.
• Talkdesk Inc.
• Twilio Inc.
• Vocalcom Group
• Vonage Holdings Corp.

 

This statistical study of the cloud-based contact center market encompasses successful business strategies deployed by the key vendors. The cloud-based contact center market is fragmented and the vendors are deploying growth strategies such as focusing on differentiating themselves based on service qualities and innovations to compete in the market.

Product Insights and News

• 8x8.com - The company offers secure cloud contact center solution that makes it easy to connect and collaborate with agents and strengthen experiences for optimal customer success.

• 8x8.com - Under the unified segment, the company provides cloud-based voice, contact center, video, mobile and unified communications for businesses.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The cloud-based contact center market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Cloud-based Contact Center Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the cloud-based contact center market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Cloud-based Contact Center Market?

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39% of the market's growth will originate from North America during the forecast period. The US is the key market for cloud-based contact center in North America. Market growth in this region will be faster than the growth of the market in the South American, APAC and MEA regions.

The growing number of data center businesses, startups, and customers willing to adopt new technologies will facilitate the cloud-based contact center market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The cloud-based contact center market in North America witnessed a slowdown owing to the COVID-19 outbreak in 2020. However, some IT companies offered the work-from-home facility to their employees and gradually started opting for the cloud-based contact center to manage their remote workforce. The increased adoption of cloud-based services is expected to drive the growth of the regional market during the forecast period. 

Cloud-based Contact Center Market: Key Drivers, Trends, and Challenges

The rising adoption of cloud-based contact centers is notably driving the cloud-based contact center market growth, although factors such as integrate mobility with existing skills may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the cloud-based contact center industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Cloud-based Contact Center Market Driver

One of the key factors driving growth in the cloud-based contact center market is the rising adoption of cloud-based contact centers. The inherent benefits of cloud computing, such as scalability, reliability, and high resource availability, are compelling enterprises to adopt cloud architecture in their business models. The adoption of cloud computing eliminates the need for a dedicated IT support team and reduces operating costs of the particular organization. To extract the highest cost benefits from cloud offerings, enterprises are adopting the software on a pay-per-use subscription basis. This is expected to accelerate the adoption of software-as-a-service (SaaS) applications, which include customer relationship management (CRM), sales management, human resource management (HRM), and financial management. Factors such as the accumulation of a large amount of customer data in contact centers and the lack of local storage are leading enterprises to adopt SaaS contact centers. The use of SaaS contact centers results in the effective execution of business strategies and draws more focus on core operations without increasing IT costs. Such factors are expected to drive the growth of the market in focus.

Key Cloud-based Contact Center Market Trend

The increase in adoption of social, mobile, analytics, and cloud (SMAC) technologies is a cloud-based contact center market trend that is expected to have a positive impact in the coming years. Contact centers are fast transitioning from single-channel operations to multichannel, multi-function units that handle CRM. Organizations infuse strong SMAC technology into their contact centers to achieve better results. By addressing evolving client preferences and the requirement for multichannel consistency, these technologies help enterprises increase the agility of their business processes. Modern contact centers focus on delivering capabilities such as communication as a service, social media capabilities to handle social media queries, smartphone access to provide contact center agents with relevant real-time information, video enablement to engage in face-to-face video calls, virtual contact centers to reduce costs and complexities, and advanced analytics to evaluate unstructured data in bulk and deliver key insights into customer behavior. Such trends can fuel the growth of the global cloud-based contact center market.

Key Cloud-based Contact Center Market Challenge

The integrate mobility with existing skills will be a major challenge for the cloud-based contact center market during the forecast period. Customers are heavily dependent on their smartphones for all types of interactions in today's environment. As smartphone gadgets and mobile applications become increasingly popular, more customers desire access to customer care through these channels. Businesses must be prepared to manage the developing and vital medium of communication, ensuring that customers can easily access the platform. For instance, according to the 2020 NICE inContact Customer Experience (CX) Transformation Benchmark survey, 61% of companies planned to invest in mobile application experience as they need to optimize mobile applications and mobile-friendly websites for quick responses to common customer questions and issues globally. Contact center solution suppliers are aware of these problems and are undertaking proactive measures to enable mobility to consumers using current capabilities. Such factors can hamper the growth of the market in focus during the forecast period.

This cloud-based contact center market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global cloud-based contact center market as a part of the global IT consulting and other services market within the global IT services market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the cloud-based contact center market during the forecast period.

What are the Revenue-generating Component Segments in the Cloud-based Contact Center Market?

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The cloud-based contact center market share growth by the solutions segment will be significant during the forecast period. The solutions segment is expected to grow at a significant rate during the forecast period as it holds a significant market share in the global cloud-based contact center market. Companies are outsourcing their contact center operations to cloud-based contact center vendors to minimize the total cost of ownership and increase business agility and efficiency. The growing demand and awareness among public and private enterprises have enhanced the scalability and agility of operations, which is anticipated to fuel the growth of the cloud-based contact center market. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the cloud-based contact center market size and actionable market insights on post COVID-19 impact on each segment.

 

Cloud-based Contact Center Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 19.97%
Market growth 2022-2026	$ 27.02 billion
Market structure	Fragmented
YoY growth (%)	19.35
Regional analysis	North America, Europe, APAC, South America, and Middle East and Africa
Performing market contribution	North America at 39%
Key consumer countries	US, China, Japan, UK, and Germany
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	3CLogic Inc., 8x8 Inc., Alvaria Inc., Amazon.com Inc., Ameyo Pvt Ltd., Avaya Holdings Corp., Cisco Systems Inc., Enghouse Systems Ltd., Evolve IP LLC, Five9 Inc., Genesys Telecommunications Laboratories Inc., Lifesize Inc., NICE Ltd., Nubitel, Redwood Technologies Group Ltd., RingCentral Inc., Talkdesk Inc., Twilio Inc., Vocalcom Group, and Vonage Holdings Corp.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Cloud-based Contact Center Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive cloud-based contact center market growth during the next five years
• Precise estimation of the cloud-based contact center market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the cloud-based contact center industry across North America, Europe, APAC, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of cloud-based contact center market vendors

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