The global Cloud-based Contact Center market gathered revenue around USD 130.99 Trillion by the end of 2027 and is estimated to expand at a modest CAGR of 21% during the prediction period 2021 to 2027. A cloud-based contact center is a setup to handle customer communications over the Internet. It enables customers to run call centers. It also handles inbound and outbound customer communications. A cloud-based contact center is essentially a set of software solutions that provide applications and comprehensive tools that enable brands to connect with customers across multi-channels such as social media, email, live chat, WhatsApp, voice, and Google’s Business Messages. Features of a cloud-based contact center includes call center integration, Omni-channel support, IVR, call center reports, ACD, and auto dialer real-time monitoring.
The shift from analog to digital technologies among organizations has led to significant rise in the amount of organizational data. More than a quarter of the global population is anticipated to be using wireless devices over the next few years. Hence, the demand for cross-channel communication solutions is expected to boost the cloud-based contact center market during the forecast period. Additionally, a shift in the working of BPO companies from phone calls to other communication channels, including e-mail, web chat, and social media is also projected to propel the cloud-based contact center market during the forecast period. Cloud-based contact center solutions provide an efficient option to establish communication with customers in real-time. Hence, a rise in the demand to solve customer queries in real-time is estimated to drive the cloud-based contact center market.
This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the Cloud-based Contact Center market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global Cloud-based Contact Center market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.
COVID-19 Impact Assessment on Market Landscape
The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.
Cloud-based Contact Center market report empowers readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.
Scope of the Report
This report provides an all-inclusive environment of the analysis for the Cloud-based Contact Center Market. The market estimates provided in the report are the result of in-depth secondary research, primary interviews and in-house expert reviews. These market estimates have been considered by studying the impact of various social, political and economic factors along with the current market dynamics affecting the Cloud-based Contact Center Market growth
Along with the market overview, which comprises of the market dynamics the chapter includes a Porter’s Five Forces analysis which explains the five forces: namely buyers bargaining power, suppliers bargaining power, threat of new entrants, threat of substitutes, and degree of competition in the Cloud-based Contact Center Market. It explains the various participants, such as system integrators, intermediaries and end-users within the ecosystem of the market. The report also focuses on the competitive landscape of the Cloud-based Contact Center Market.
Competitive Rivalry
Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
Significant Market Participants Operational in the Cloud-based Contact Center Market are:
The global cloud-based contact center market are 8x8, Inc., Aspect Software, Inc., AVOXI, Inc., Cisco Systems, Inc., Five9, Inc., Genesys Telecommunications Laboratories, Inc., MicroCorp, Inc., Mitel Networks Corporation, NICE Ltd., Oracle Corporation, Orange Business Services, Ozonetel Communications Pvt. Ltd., Serenova, LLC, Talkdesk, Inc., Telax Voice Solutions, Inc., Twilio, Inc., Vonage Holdings Corp., West Corporation, and Vocalcom S.A.
Unravelling the Critical Segments
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:
Global Cloud-based Contact Center Market: Segmentation
Cloud-based Contact Center Market, by Component
Cloud-based Contact Center Market, by Deployment
Cloud-based Contact Center Market, by Enterprise Size
Cloud-based Contact Center Market, by Industry
By Geography
North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)
Highlights of the Report:
Research Methodology
A unique research methodology has been utilized by Nova one advisor to conduct comprehensive research on the growth of the global Cloud-based Contact Center market and arrive at conclusions on its growth prospects. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions.
Nova one advisor employs comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecast possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation that looks market from three different perspectives. Critical elements of methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia and trade journals. Technical data is also gathered from intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created customized for each study. Gathered information for market dynamics, technology landscape, application development and pricing trends is fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, and industry experience and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of technology landscape, regulatory frameworks, economic outlook and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting for our reports. Exhaustive primary interviews are conducted, on face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation, but also provide critical insights into the market, current business scenario and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
The key objectives of primary research are as follows:
Secondary Validation
Secondary research sources referred to by analysts during the production of the global Cloud-based Contact Center market report include statistics from company annual reports, SEC filings, company websites, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of Nova one advisor’s study on the Cloud-based Contact Center market as primary methods.
The study objectives of this report are: