Cloud Based Contact Center Global Market Report 2024

Cloud-based contact center refers to an application that is hosted on a web server and used by businesses to answer incoming and outgoing client calls. Cloud contact centres provide communication via a variety of platforms, including voice, email, social media, and chat, from any place and on any device. It is a full set of technologies, applications, and cloud-hosted solutions for contact centers in large companies which need multiple communication modes (such as messaging and phone calls), complex call routing, staff management, and analytics.

The main types of cloud-based contact centers are automatic call distribution, agent performance optimization, dialers, interactive voice response, computer telephony integration, analytics, and reporting. A telephone system that automatically receives incoming calls and sends them to an available agent is known as automated call distribution. The different components include services, and solutions and are deployed in public, private, and hybrid clouds. It is used in call routing and queuing, data integration and recording, chat quality and monitoring, real-time decision making, and workforce optimization and is implemented in various sectors such as banking, financial services and insurance (BFSI), IT and telecom, media, and entertainment, retail, logistics, and transport, healthcare, others.

The cloud based contact center market research report is one of a series of new reports that provides cloud based contact center market statistics, including cloud based contact center industry global market size, regional shares, competitors with a cloud based contact center market share, detailed cloud based contact center market segments, market trends and opportunities, and any further data you may need to thrive in the cloud based contact center industry. This cloud based contact center market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The cloud based contact center market size has grown rapidly in recent years. It will grow from $22.63 billion in 2023 to $26.91 billion in 2024 at a compound annual growth rate (CAGR) of 18.9%. The growth in the historic period can be attributed to cost efficiency and scalability, customer experience enhancement, disaster recovery and business continuity, compliance and security measures, agility and rapid deployment.

The cloud based contact center market size is expected to see exponential growth in the next few years. It will grow to $58.91 billion in 2028 at a compound annual growth rate (CAGR) of 21.6%. The growth in the forecast period can be attributed to demand for multichannel communication, increased focus on compliance management, predictive analytics for customer insights, enhanced self-service options, real-time analytics for decision-making. Major trends in the forecast period include rapid adoption of cloud-based solutions, omnichannel communication, analytics and business intelligenceenhanced security and compliance features, edge computing for low latency, integration with crm and business applications.

The rising adoption of cloud based call centers is projected to drive the growth of the cloud based contact center market in the coming years. A network-based service in which a provider owns, and controls contact center technology is known as cloud-based call centers. Cloud based call centers provide innovative solutions to address company issues and remote services to enterprises on a subscription basis. For instance, in April 2021, according to a report published by 8x8 Inc. a US-based provider of Voice over IP products, 75% of contact centers are currently working in the cloud (44% fully, 31% hybrid), making them the majority of contact centers nowadays. Therefore, the rising adoption of cloud based call centers fuels the cloud based contact center market growth .

The increasing number of remote and hybrid workforces is expected to propel the growth of the cloud based contact center market going forward. Remote and hybrid workforces refer to the ways in which employees perform their job responsibilities in modern work settings. Incorporating cloud-based contact centers in remote and hybrid workforces provides scalability, accessibility, flexibility, rapid deployment, and enhances the quality of customer interactions, boosting overall customer satisfaction. For instance, in May 2022, according to the Office for National Statistics, a UK-based government department, by early February 2022, the percentage of people working in hybrid mode had increased from 13% to 24%. Furthermore, in June 2023, according to Forbes Media LLC, a US-based media company, in the US, 12.7% of employees will work from home in 2023, and by 2025, 32.6 million people are expected to work remotely. Therefore, the increasing remote and hybrid workforces is driving the growth of the cloud based contact center market .

The growing technological advancements are shaping the cloud based call center market. Major companies operating in the cloud based call center sector are focused on developing technological solutions for cloud based call centers to strengthen their position in the industry. For instance, in October 2022, Duo World Inc., a US-based information technology launched Dialdesk. This is a platform with phone, chat, social media feeds, and integrations with numerous third-party apps that can manage omni-channel communication and autoscale. As a SaaS solution, Dialdesk requires little training for users to become proficient in using the application. Regardless of whether they are new to the product or are switching from another system, Dialdesk offers an easy-to-use drag-and-drop user interface for constructing IVR/call flows .

Major companies operating in the cloud based contact center market are focusing on innovative solutions to drive revenues in their market. Innovative solutions in cloud-based contact centers involve the use of advanced technologies and data-driven approaches to enhance customer interactions, streamline operations, and provide real-time insights for improved customer service. For instance, in December 2022, CBTS (Cincinnati Bell Technology Solutions) a US-based company that provides a wide range of IT services and solutions launched Cxsync cloud contact center. Cxsync is an omni-channel, self-service cloud contact center platform that can be easily scaled up or down. Cxsync is easily customizable by clients to meet their unique needs. It enables agent grading, real-time call tracking, and continuous training and education, giving businesses the data, they require to enhance customer experience. CBTS can expedite the deployment of the solution and provide a superior and more secure user experience through Cxsync’s pre-assembled API integration, implementation, and portal-based management capabilities.

In September 2021, Zoom Video Communications Inc. a US-based communications technology company, acquired Five9 Inc. for $14.7 billion. With this acquisition, Zoom was able to further its long-term growth potential and strengthen its position with enterprise customers. This acquisition provides both businesses with substantial chances to cross-sell to their respective clientele. Five9 Inc. is a US-based company that provides a cloud-based contact center solution .

Major companies operating in the in the cloud based contact center market report are Genesys Telecommunications Laboratories Inc., 3CLogic Inc., Avaya Contact Center (Avaya Group), Connect First Inc., Five9 Inc., 8x8 Inc., Aspect Software, RingCentral Inc., NICE Systems Ltd., Ameyo Pvt. Ltd., Aircall SAS, Amazon Web Services Inc., Vocalcom Group, Talkdesk Inc., Vonage, Serenova LLC, Content Guru Inc., Evolve IP, TCN Inc., Tata Consultancy Services Limited, Worldline, Cisco Systems Inc., Sharpen Technologies, Bright Pattern Inc., Liveops, Mitel Networks Corporation, Enghouse Interactive Inc., Noble Systems Corporation, Alcatel-Lucent Enterprise, Altitude Xperience

North America was the largest region in the cloud based contact center market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cloud based contact center market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the cloud based contact center market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The cloud-based contact center market includes revenues earned by entities by providng automated call routing and multiple communication platforms. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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