Global Cloud-based Contact Center Market Expected to Climb $6.8 Billion by 2019

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 a recent report from RnR Market Research. Analysts said that leading players in industry include 3CLogic, Aspect, Connect First, Cisco, Five9, InContact, Interactive Intelligence, Oracle, Zendesk, and Genesys.

In terms of regions, North America is expected to be the biggest market in terms of revenue contribution, while emerging economies such as Middle East and Africa, Latin America, and Asia-Pacific are expected to experience increased market traction with high CAGRs, in the due course.

Additionally, the researchers believe 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 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.

In cloud based contact center market, each solution and service is playing an important role in the market. These solution and service support various applications including call routing and queuing, data integration and recording, chat quality monitoring, real time decision making and work force optimization. The analyst module in cloud-based contact center platforms suite is a business intelligence environment providing every conceivable measurement of contact center performance for instant ad hoc reporting or standard reports used regularly by contact center managers, all with OLAP operations of slice, dice, drill down, roll-up, and pivot.

Vendors in cloud-based contact center market provides real-time contact center reporting of all activities via the highly customizable, widget-based dashboard. The interactive, tabbed based interface enables supervisors and administrators to easily create, view and share reports anywhere via a browser with all information securely filtered by granular permission profiles to display only relevant information the user is authorized to see. The platform stores data on all call-related and agent-related events for historical reports. The open database schema enables organizations to create custom reports using standard report generation tools.

The solutions provided by vendors provide an ability to integrate customer related data with call recordings to monitor agent performance and provide customers with better experience. Due to high competition, companies are seeking out for solutions that are tightly integrated because the cloud provides enterprises with common administration and reporting, quicker upgrades, and tighter integration capabilities.