NEW YORK, Nov. 15, 2016 /PRNewswire/ -- "Faster deployment, scalability of cloud technology, cloud compliance requirement, and need to manage disaster recovery is expected to drive the overall market"
The cloud-based contact center market size is estimated 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% due to cloud compliance requirement and the need to manage disaster recovery. However, risk of information and high initial investment is the major restraint in the overall growth of the market.
Dialer is expected to be the most promising solution during the forecast period
The implementation of dialers is expected to grow at the highest CAGR during the forecast period. The dialers allow organizations to manage 'Do Not Call' lists, time zones, external table dialing and dynamic filtering, and offers deployment options so they can choose how to address regulations that prohibit auto dialers and predictive dialing. This provides the ease of utilization that the contact centers require leading to an increase in its demand.
Hybrid cloud is expected to be grow at the highest CAGR during the forecast period
The demand for hybrid cloud in the contact center space is expected to increase in the coming five years. The scalability and flexibility of hybrid cloud helps an enterprise to create an automated, integrated, secure, and well-managed computing environment cost-effectively. One of the reasons for the high adoption of hybrid cloud is that it bridges the gap between low-security public cloud and high-security private cloud, thus, giving the user the security of private cloud and low cost of public cloud.
"Asia-Pacific (APAC) is projected to witness the highest growth during the forecast period"
North America is expected to hold the largest market share and dominate the cloud-based contact center market in 2016, due to the increasing market for analytics and high competition between the organizations to offer enhanced customer satisfaction. APAC is expected to grow at the highest rate during this forecast period. Increasing retail and distribution activities, along with growth in the BFSI sector has given scope for the cloud-based contact center market to grow in APAC.
In the process of determining and verifying the market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key industry personnel. The break-up of profiles of primary discussion participants is given below.
- By Company Type: Tier-1 (35%), Tier-2 (42%), and Tier-3 (23%) companies
- By Designation: C-level (42%), Director Level (37%), and Others (21%)
- By Region: North America (51%), Europe (29%), APAC (15%), and Rest of World (5%)
The list of multi-cloud management vendors profiled in the report is as follows:
1. 8X8, Inc. (California, U.S)
2. FIVE9 Inc. (California, U.S)
3. Cisco Systems, Inc. (California, U.S)
4. Genesys Telecommunications Laboratories, Inc. (California, U.S)
5. Oracle Corporation (California, U.S)
6. NICE Systems ltd. (Raanana, Israel.)
7. NEWVOICEMEDIA (Hampshire, U.K.)
8. 3CLogic (Maryland, U.S)
9. Aspect Software Parent inc. (Massachusetts, U.S)
10. Connect First Inc. (Colorado, U.S.)
The global cloud-based contact center market has been segmented on the basis of solutions, services, applications, deployment models, organization sizes, industry verticals, and regions. The various types of analysis covered in the study includes SWOT analysis, value chain analysis, competitive landscaping, and DROC analysis.
Reasons to Buy the Report
The report will help the market leaders/new entrants in this market in the following ways:
1. This report segments the cloud-based contact center market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the sub segments across different verticals and regions.
2. The report helps the stakeholders understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
3. This report will help the stakeholders to better understand the competitors and gain more insights to better their position in the business. The competitive landscape section includes competitor ecosystem, new product developments, partnerships, and mergers & acquisitions.
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