Cloud-Based Contact Center Market Worth 15.67 Billion USD by 2021

PUNE, India, November 7, 2016 /PRNewswire/ --

According to a new market research report "Cloud-Based Contact Center Market by Solution (Dialers, Reporting, and analytics), Service (Professional and Managed), Application, Deployment Model, Organization size, Industry vertical, and Region - Global Forecast to 2021", published by MarketsandMarkets, the market size 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.

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Browse 74 market data Tables and 57 Figures spread through 165 Pages and in-depth TOC on "Cloud-Based Contact Center Market"

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The major drivers of this market include the need for disaster recovery, faster deployment and flexibility of cloud solutions, and the need for compliance management. 

Dialer is expected to be the most promising solution during the forecast period 

On the basis of solutions, the dialer segment is projected to grow at the highest CAGR during the forecast period. Dialers are a part of outbound dialing technology. Various dialers such as preview dialers and progressive dialers systems provide automatic dialing when the agent is ready, along with other benefits such as external table dialing and dynamic filtering. These benefits have led to the high demand for dialers.

Managed services segment is expected to grow at the highest CAGR during the forecast period 

With increasing deployment of the solutions, the services segment is expected to grow in the coming years. The managed services segment is expected to grow at the highest CAGR during the forecast period. Managed services enable organizations to outsource their 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).

Consumer goods and retail industry is expected to grow at the highest CAGR during the forecast period 

The cloud-based contact center plays a very important role in the consumer goods and retail industry. The customers touch points in this vertical basically comprise retail stores, web-catalog, and customer call center. The vendors in this industry need a comprehensive cloud environment to offer their respective products and services to the customers. Contact center solutions have become an integral part of the eCommerce industry and are acting as a strong channel for retailers to attain customer loyalty in the highly competitive market.

Presently, North America contributes the maximum market share in the Cloud-Based Contact Center Market 

North America is expected to hold the largest market share and dominate the Cloud-Based Contact Center Market in 2016, due to the larger internet penetration rate and quick shift from isolated infrastructure to cloud in the region. Asia-Pacific (APAC) is expected to grow at the highest rate during this forecast period. Growing acceptance of cloud-based solutions, emerging technologies like Internet of Things (IoT) as well as big data and mobility are the major drivers in this region.

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The major vendors covered in the Cloud-Based Contact Center Market for the study are 8X8, Inc. (California, U.S), FIVE9 Inc. (California, U.S), Cisco Systems, Inc. (California, U.S), Genesys Telecommunications Laboratories, Inc. (California, U.S), Oracle Corporation (California, U.S), NICE Systems ltd. (Raanana, Israel.), NEWVOICEMEDIA (Hampshire, U.K.), 3CLogic (Maryland, U.S), Aspect Software Parent Inc. (Massachusetts, U.S), and Connect First Inc.(Colorado, U.S.)

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