Cloud Contact Center Market to Increase by $27 Billion

Research firm Technavio expects the cloud-based contact center market's growth to accelerate at a compounded annual rate of 19.97 percent through 2026, accounting for $27.02 billion in additional revenue.

Contact centers are fast transitioning from single-channel operations to multichannel, multi-function units, which Technavio expects will continue to fuel market growth. That growth, it said further, will be enabled by capabilities such as communication as a service, social media, smartphone access, video enablement for face-to-face video calls, virtual contact centers to reduce costs and complexities, and advanced analytics to evaluate unstructured data in bulk and deliver key insights into customer behavior.

Companies are outsourcing their contact center operations to cloud-based contact center vendors to minimize the total cost of ownership and increase business agility and efficiency. The growing demand and awareness among public and private enterprises have enhanced the scalability and agility of operations, which is anticipated to fuel the growth of the cloud-based contact center market, it concluded in its report.

Leading vendors in the cloud contact center market in 3CLogic, 8x8, Alvaria, Amazon, Ameyo, Avaya, Cisco , Enghouse, Evolve IP, Five9, Genesys, Lifesize, NICE, Nubitel, Redwood Technologies Group, RingCentral, Talkdesk, Twilio, Vocalcom, and Vonage, according to Technavio.

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