The cloud-based contact center market is estimated to grow from $4.15 billion in 2014 to $10.9 billion in 2019, at a Compound Annual Growth Rate (CAGR) of 21.3 percent from 2014 to 2019, according to analysts at MarketsandMarkets.
In terms of regions, North America is expected to be the biggest market and also in terms of revenue contribution. Emerging economies such as Middle East and Africa, Latin America, and Asia-Pacific are expected to experience increased market traction with high CAGRs.
MarketsandMarkets believes that the risk of information loss and reduced control after outsourcing are the major issues in the cloud-based contact center market. These challenges are restraining the enterprises and customers to adopt cloud based contact center solutions to support a wide range of applications such as call routing and queuing, data integration and recording, chat quality monitoring, real- time decision making, and work force optimization.