The cloud-based contact center market is expected to grow from USD 5.43 Billion in 2016 to USD 15.67 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 23.6% during the forecast period.
The major drivers of this market include need for disaster recovery, faster deployment and flexibility of cloud solution, and need for compliance management.
The cloud-based contact center market report has been broadly classified into solutions and services. The dialer solution is expected to grow at the highest CAGR during the forecast period, followed by reporting and analytics. Reporting and analysis is an important part of customer management. Call center analytics and reporting solutions keep track of contact center operations and agent performance. This solution is flexible and easy to use and enables organizations to track real-time management metrics with customizable dashboards so they can make smart business decisions. Dialers, on the other hand, provide automatic dialing the call when agent is ready, along with external table dialing and dynamic filtering. These benefits have given rise to the demand for dialers.
Among services, managed services segment is expected to dominate the cloud-based contact center market. Managed services enable organizations to outsource its entire or a part of the IT infrastructure and operations to focus on their key business goals. Outsourcing helps contact center-based companies to reduce the cost incurred on network and IT spending by eliminating Capital Expenditure (CAPEX) and Operational Expenditure (OPEX). This increases its demand in the market, accelerating its growth.
Chat quality and monitoring application is expected to grow at the highest CAGR during the forecast period. To better understand the customer need and enhance customer service, cloud-based contact center organizations need to monitor the chat quality. It also allows supervisors to silently monitor live calls for a selected agent or randomly monitor calls for campaigns that the supervisor manages.
North America is expected to hold the largest market share in 2016, whereas Asia-Pacific (APAC) region is expected to grow at the highest CAGR from 2016 to 2021 in the cloud-based contact center market. Growth in on-line tourism, e-commerce, and insurance is the major factor for the growth of contact centers in APAC.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Cloud-Based Contact Center Market Analysis, By Solution
8 Cloud-Based Contact Center Market Analysis, By Service Type
9 Cloud-Based Contact Center Market Analysis, By Application
10 Cloud-Based Contact Center Market Analysis, By Deployment Model
11 Cloud-Based Contact Center Market Analysis, By Organization Size
12 Cloud-Based Contact Center Market Analysis, By Vertical
13 Geographic Analysis
14 Competitive Landscape
15 Company Profiles
- 8x8, Inc.
- Aspect Software Parent Inc.
- Cisco Systems, Inc.
- Connect First, Inc.
- Five9, Inc.
- Genesys Telecommunications Laboratories, Inc.
- Nice-Systems Ltd.
- Oracle Corporation
For more information about this report visit http://www.researchandmarkets.com/research/fwlxns/cloudbased
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To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/global-cloud-based-contact-center-market-2016-2021-disaster-recovery-faster-deployment-and-flexibility-of-cloud-solution--need-for-compliance-management-drives-the-15-billion-industry---research-and-markets-300371330.html
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