Cloud-Based Contact Center Market is Expected to Grow From USD 4.68 Billion in 2015 to USD 14.71 Billion by 2020 According to Report

Jan 06, 2016, 02:30 ET from Research and Markets

DUBLIN, January 6, 2016 /PRNewswire/ --

Research and Markets (http://www.researchandmarkets.com/research/xchs9v/cloud_based) has announced the addition of the "Cloud Based Contact Center Market by Solution, & by Application, by Vertical, by Region - Global Forecast to 2020" report to their offering. 

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The global cloud-based contact center market is expected to grow from USD 4.68 Billion in 2015 to USD 14.71 Billion by 2020, at a Compound Annual Growth Rate (CAGR) of 25.7%. 

The cloud model has seen high demand and growth in the contact center market over the past few years. Cloud-based contact center can be defined as a deployment model that allows businesses to host their contact center in a remote, third-party data center. 

A dominant factor driving the growth of this market is the financial benefit of moving expenses from capital expenditure to operating expenditure, avoiding costly infrastructure. By deploying cloud-based contact centers, businesses can avoid upfront investment in infrastructure and vendor licenses, and can opt for a payment model based on the usage. A cloud-based contact center is easy and fast to deploy as the services are offered over the internet. Cloud call centers also enjoy unlimited scalability and flexibility as compared to on-premise centers. 

The report covers the cloud-based contact center market on the basis of solutions, services, deployment types, applications, verticals, and regions. Enhanced business agility and the growing acceptance of home-based work are driving the growth of this market. However, high initial investment incurred to migrate to cloud and the risk of losing information is still restraining the growth of this market. 

The cloud-based contact center market has seen rapid adoption across various verticals, such as Banking, Financial Services, and Insurance (BFSI), IT and telecom, media and entertainment, and retail, which has led to rapid growth of the market, globally. The need for cloud-based solutions has a wide scope and finds acceptability across all verticals. Ease of deployment of cloud and low initial investments are the contributing factors for the growth of the market and are finding increased acceptance among the enterprises of all sizes. 

Business leaders are turning to the cloud to achieve differentiation in customer service rather than immediate and long-term cost savings. Cloud tools such as automatic call distribution and dialers, agent performance optimization and interactive voice response allows contact center managers to get more out of their agents, while reducing the time that customers wait on the phone. And many contact centers are now using analytics and reporting to focus on call quality and make sure that customers receive optimal experience. Calls can be tracked and analyzed, and this is driving improved results. 

The cloud-based contact center market is consolidated with key players such as Interactive Intelligence, Cisco Systems, Five9, Oracle Corporation, and Genesys Telecommunications. These players adopted various strategies of new product developments, partnerships, collaborations and business expansions to cater to the needs of the market. The market players have adopted new product launches and enhancements as a major strategy to expand their security portfolio, market shares, and customer base. 

Key Topics Covered: 

1 Introduction 

2 Research Methodology 

3 Executive Summary 

4 Premium Insights 

5 Market Overview 

6 Industry Trends 

7 Cloud-Based Contact Center Market Analysis, By Type 

8 Cloud-Based Contact Center Market Analysis, By Deployment Model 

9 Cloud-Based Contact Center Market Analysis, By Application 

10 Cloud-Based Contact Center Market Analysis, By Vertical 

11 Geographic Analysis 

12 Competitive Landscape 

13 Company Profiles (Business Overview, Products & Services, Key Insights, Recent Developments, Swot Analysis, Mnm View)

- 3Clogic, Inc. 
- 8X8, Inc. 
- Aspect Software 
- Cisco Systems, Inc. 
- Connect First, Inc. 
- Five9, Inc. 
- Genesys Telecommunications Laboratories, Inc. 
- Incontact, Inc. 
- Key Innovators 
- Liveops Social 
- Mitel Networks Corporation 
- Oracle Corporation 

For more information visit http://www.researchandmarkets.com/research/xchs9v/cloud_based

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