Global Cloud Contact Center market accounted for US$ 14.5 billion in 2020 and is estimated to be US$ 86.95 billion by 2030 and is anticipated to register a CAGR of 19.8%. Several firms use cloud-based contact Centre solutions to take advantage of contact Centre providers’ services. These solutions simplify the process of supplying clients with modernized, up-to-date services and tailor them to meet their tastes and wants, while also offering the benefits of low capital investment, 24/7 technical support, and high levels of dependability, security, and scalability. Furthermore, these solutions are likely to see an increase in demand as they are being used to improve customer experience in a variety of industries, such as Banking, Financial Services, and Insurance (BFSI), telecommunications, Information and Technology (IT), and Information Technology Enabled Services (ITES), and healthcare and life sciences. Communication application programming interfaces can be used to integrate modern channels (APIs). The insights gained from analytics can then be used to provide context-rich and tailored consumer experiences. Furthermore, because there is no centralized office, employees can work remotely to provide 24-hour customer assistance. On-premise call centers are gradually being replaced with cloud-based call centers. According to the State of Customer Experience 2018, 39 percent of contact centers in the United Kingdom have moved to the cloud, with 57 percent planning to transition to cloud-based call centers within the next three years, indicating the market’s potential. Cloud contact centers have become a critical step for businesses to take in order to adopt a systematic strategy that improves performance, channel support and engagement, reporting, and analytics in order to successfully service a client base with constantly changing preferences. Enterprises face a problem in selecting the correct cloud contact Centre solution and strategic partner to fulfil these objectives.
Analyst View & COVID-19 Impact on Cloud Contact Center Market:
Customers in a variety of industries are attempting to cope with the impact of COVID-19 because to the continuous outbreak. Customers want to know about healthcare issues, newly remote workers need tech support to stay connected, and investors are worried about their portfolios’ performance. As a result of the pandemic, the contact centre business is seeing a spike in the amount of calls. Customer relationship management contact centres are fast developing from primary models in which operations are delivered in a single channel to multi-channel, multi-function units. Contact centres in the modern era handle inbound and outbound calls, emails, web queries, and chats from all over the world. Organizations utilise robust Social Media, Mobile, Analytics, and Cloud (SMAC) technology in their contact centres to obtain better results. By addressing evolving client preferences and the need for multi-channel consistency, these technologies help enterprises to increase the agility of their business operations. Modern contact centres emphasise capabilities such as communication as a service, social media capabilities to handle social media queries, smartphone access to provide contact centre agents with relevant real-time information, video enablement to engage in face-to-face video calls, virtual contact centres to reduce costs and complexities, and advanced analytics to analyse unstructured data in bulk and deliver key insights into customer behavior.
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Key Highlights of Cloud Contact Center Market:
- NICE inConnect, a NICE subsidiary, teamed with Zendesk in May 2020 to help contact centres respond to changing customer demands. Both firms may now utilise NICE inContact CXone home with Zendesk Support Suite and complementary Zendesk Distant Support Bundle to enable remote contact centres and desk teams keep up with increased interactions as a result of COVID-19, thanks to the agreement. The Zendesk Remote Support Bundle and NICE inContact CXone home both provide a fully virtual contact centre for business continuity, productivity, and service reliability. Agents will have a complete perspective of their consumers in an easy-to-use workspace as a result of the relationship.
- In April 2020, Genesys announced the Rapid Response to assist organisations in adapting to Genesys Cloud within 48 hours, in light of the COVID-19 pandemic. Customers can take use of automation and self-service, as well as phone and email routing, interaction recording, and collaboration capabilities.
- April 2019 – ZephyrTel announced a strategic collaboration arrangement with Amazon Web Services (AWS) to transition ZephyrTel offerings, including OASIS Cloud Contact Center, to AWS.
- Avaya added additional functionality to their Cloud-based Contact Center products in September 2019. Avaya IX Teamspace, for example, allows customers, agents, and back-office workers to communicate via media chat and messaging. (b) Avaya IX Dashboard, an open, modular dashboard that provides a snapshot of the performance of the customer journey and associated customer experience, as well as improved analytics; and (c) Agent Scripting, a browser-based call-flow scripting platform that allows you to define inbound and outbound call flows.
Key Market Insights from the report:
The Global Cloud Contact Center market accounted for US$ 14.5 billion in 2020 and is estimated to be US$ 86.95 billion by 2030 and is anticipated to register a CAGR of 19.8%. The global cloud contact center market report segments the market on the basis of type, service, end-user, and region.
Competitive Landscape & their strategies of Cloud Contact Center Market:
Key players operating in the Global Cloud Contact Center market include 3CLogic, 8×8, Inc., Aspect Software, Inc., BT Group plc, Cisco Systems, Inc., Connect First, Inc., Evolve IP LLC, Five9, Inc., Genesys and Liveops, Inc. Prominent players operating in the target market are focusing on the strategic partnerships as well as launching of the products in order to gain competitive edge in the target market.
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Global Cloud Contact Center market, By Type:
- Automatic Call Distribution
- Agent Performance Optimization
- Dialers
- Others
Global Cloud Contact Center market, By Service:
- Professional
- Managed
Global Cloud Contact Center market, By End-User:
- Banking, Financial Services and Insurance (BFSI)
- IT and Telecom
- Media and Entertainment
- Others
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
Some Important Points Answered in this Market Report Are Given Below:
- Explains an overview of the product portfolio, including product development, planning, and positioning
- Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
- Detailed analysis of the market revenue over the forecasted period.
- Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
- Study on the segments that are anticipated to dominate the market.
- Study on the regional analysis that is expected to register the highest growth over the forecast period
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Market Purview
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- DR Impact Analysis
- PEST Analysis
- Porter’s Five Forces Analysis
- Opportunity Orbit
- Market Investment Feasibility Index
- Macroeconomic Factor Analysis
- Market Estimation
- Top-Down Approach
- Bottom-Up Approach
- Market Breakdown and Data Triangulation
- Research Assumptions
- Drivers
- Restraints
- Market Opportunities
- Market Trends
- Approach for estimating Market Share by Top-Down Analysis (Supply Side)
- Approach for estimating market share by Bottom-up Analysis (Demand Side)
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