New York, NY, Sept. 07, 2021 (GLOBE NEWSWIRE) -- Facts and Factors have published a new research report titled “Cloud Based Contact Center Market By Component (Solution and Service), By Deployment (Public Cloud, Private Cloud, and Hybrid Cloud), By Organization Size (Small and Medium Size Enterprises (SME's) and Large Enterprises) and By Industrial Vertical (BFSI, Consumer Goods and Retails, Government and Public Sector, Healthcare and Life Sciences, Manufacturing, Media & Entertainment, IT and Telecom, and others): Global & Regional Industry Perspective, Comprehensive Analysis, and Forecasts, 2021 – 2026”.
“According to the recent research report, the demand of global Cloud Based Contact Center Market size & share expected to reach to USD 45.5 Billion by 2026 from USD 11.5 Billion in 2020, at a compound annual growth rate (CAGR) of 25.8% during the forecast period 2021 to 2026”
Global Cloud Based Contact Center Market: Overview
A cloud-based contact center, hosted by an internet server, is a focal point of any business. It is in charge of all customer communications, including incoming and outbound. Calls, emails, and social media can all be used to communicate or connect. The cloud-based contact center is regarded as a quick, simple, and highly adaptable option. With the help of a configurable management panel, a cloud-based contact center may also keep track of real-time administration metrics. Compared to call centers, contact centers have a number of advantages. Customers can self-serve and solve their own problems, for example, by using two-way, keyword-driven instant messaging, text messaging, or discussion with chatbots. Self-service reduces the number of time agents spends on the phone, resulting in shorter wait times for clients and cheaper total expenses. The infinite scalability and flexibility of cloud-based contact centers will drive up demand in the future. Numerous business verticals, including banking, financial services, and insurance (BFSI), public sector, government, healthcare, and life sciences, and consumer goods and retail, will boost demand for cloud-based contact centers.
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Our Free Sample Report Includes:
- 2020 Updated Report Introduction, Overview, and In-depth industry analysis
- COVID-19 Pandemic Outbreak Impact Analysis Included
- 225+ Pages Research Report (Inclusion of Updated Research)
- Provide Chapter-wise guidance on Request
- 2020 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
- Includes Updated List of table & figures
- Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis
- Facts and Factors research methodology
(Note: The sample of this report is updated with COVID-19 impact analysis before delivery)
Industry Major Market Players
- Cisco Systems Inc.
- Dell Technologies Inc.
- EON Reality Inc.
- Five9 Inc.
- Google LLC
- Connect First, Inc.
- Honeywell International Inc.
- HP Development Company
- L.P.
- HTC Corporation
- Magic Leap Inc.
- Genesys
- Microsoft Corporation
- Oculus VR LLC
- Qualcomm Incorporated
- Samsung Electronics Co. Ltd.
- NICE Ltd.
- Oracle Corporation
- Nokia Corporation
- Sony Interactive Entertainment LLC
- Aspect Software Inc.
- Vuzix Corporation
- West Corporation
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Key questions answered in this report:
- What is the projected market size & growth rate of the Cloud Based Contact Center Market?
- What are the key driving factors for the growth of the Cloud Based Contact Center Market?
- What are the top companies operative in Cloud Based Contact Center Market?
- What segments are covered in Cloud Based Contact Center Market?
- How can I get free sample report/company profiles of Cloud Based Contact Center Market?
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Market Dynamics
Increasing Adoption Of Cloud Computing, Social Media And The Need For Providing Customer Services Is Driving The Growth Of Cloud Based Contact Center Market
There are various major factors that are fueling the growth of the global cloud-based contact center market: the rise in cloud computing, offering multichannel customer engagement, and the use of social media & analytics. The use of a cloud-based contact center enables organizations or enterprises to gain state-of-the-art competencies that will transform a legacy contact center into a modernized contact center. Such contact centers can also improve ROI, minimize cost, offer superior employee empowerment and customer service, optimize agent efficiency, and enhance flexibility and scalability. Furthermore, the cloud-based contact center will enable the user to purchase on-demand numbers across the globe and immediately deploy. It also has elasticity, which allows the company to scale up and scale down depending on the needs. Several industries are adopting cloud-based contact centers due to all their benefits, which are equally contributing to the global market's expansion. Additionally, low initial investments and easy deployment are also factors that have led most sectors to seek out cloud based contact center deployment thereby driving the market upwards. Over the forecast period, major investments of AI will be factors likely to drive the growth of the global cloud based contact center market.
The global economic crisis caused by the pandemic of Covid-19 has affected most of the industrial sectors. Contact centers are expected to migrate from on-premises to cloud-based to cope with the financial losses. Work-from-home policies adopted by most companies have also contributed to growing cloud deployments. As a result, the global cloud-based contact center market is experiencing growth during the pandemic.
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Global Cloud Based Contact Center Market: Report Scope
| Report Attribute | Details |
| Market Size 2020 Value | USD 11.5 Billion |
| Market Forecast for 2026 | USD 45.5 Billion |
| Expected CAGR Growth | CAGR 25.8% from 2021-2026 |
| Base Year | 2020 |
| Forecast Year | 2021-2026 |
| Top Market Players | Cisco Systems, Inc., Dell Technologies Inc., EON Reality, Inc., Five9, Inc., Google, LLC, Connect First, Inc., Honeywell International, Inc., and Others |
| Segments Covered | Component, Deployment, Organization Size, Industrial Verticals, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Pricing Options | Request customized purchase options to meet your research needs. Explore purchase options |
Global Cloud-Based Contact Center Market: Segmentation
Based on components, the market is bifurcated into solution and service. Based on deployment, the market is bifurcated into public cloud, private cloud, and hybrid cloud. Based on organization size, the market is bifurcated into small and medium-sized enterprises (SME's) and large enterprises. Based on the industrial vertical, the market is bifurcated intoBFSI, consumer goods and retails, government and public sector, healthcare and life sciences, manufacturing, media & entertainment, IT and telecom, and others.
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Global Cloud Based Contact Center Market: Regional Analysis
- North America Dominates Global Cloud Based Contact Center Market
North America dominates the cloud-based contact center market, owing to the presence of many global players, rising rates of innovation, and widespread acceptance of cloud services in the region, which is intensifying the adoption of cloud-based contact centers. Organizations in this region are looking to outsource management and expertise in order to stay focused on their core activities. During the projection period, Europe is expected to increase at a steady pace. The cloud-based contact center market in Europe is driven by the presence of large car manufacturing and healthcare industries. Due to the existence of many IT and telecommunication industries, Asia-Pacific is predicted to grow at a quicker rate during the forecast period. During the projection period, the cloud-based contact center market will be driven by increasing usage of electronic devices as well as massive investment in R&D by China and Japan.
Browse the full report “Cloud Based Contact Center Market By Component (Solution and Service), By Deployment (Public Cloud, Private Cloud and Hybrid Cloud), By Organization Size (Small and Medium Size Enterprises (SME's) and Large Enterprises) and By Industrial Vertical (BFSI, Consumer Goods and Retails, Government and Public Sector, Healthcare and Life Sciences, Manufacturing, Media & Entertainment, IT and Telecom, and Others): Global & Regional Industry Perspective, Comprehensive Analysis, and Forecasts, 2021 – 2026” at https://www.fnfresearch.com/cloud-based-contact-center-market
The global cloud based contact center market is segmented as follows:
By Component:
- Solution
- Service
By Deployment:
- Public Cloud
- Private Cloud
- Hybrid Cloud
By Organization Size:
- Small and Medium Size Enterprises (SME's)
- Large Enterprises
By Industrial Vertical:
- BFSI
- Consumer Goods and Retails
- Government and Public Sector
- Healthcare and Life Sciences
- Manufacturing
- Media & Entertainment
- IT and Telecom
- Others
Key Highlights of this Report:
- Statistically Validated Analysis of Historical, Current, and Projected Industry Trends with Authenticated Market Sizes Information and Data in terms of Value and Volume, wherever applicable
- Detailed List of Key Buyers and End-Users (Consumers) analyzed as per Regions and Applications
- Overview of Key Marketing Strategies and Key Sales Channels Adopted in the Market
- Market Attractiveness Analysis and Key Investment Opportunity Analysis in the Market going forward
- Direct and Indirect Factors that Impacted the Industry as well Projected Rationales expected to affect the industry going forward
- Historical and Projected Company / Vendor / OEM / Supplier Market Shares, Competitive Landscape, and Player Positioning Data
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