Cloud Contact Center Market Seeing Robust Growth

Research firm MarketsandMarkets valued the current global cloud-based contact center market at $11.5 billion and expects it to grow to $36.1 billion by 2025, growing at a compounded annual rate of 25.8 percent.

The sudden shutdowns of businesses due to the COVID-19 pandemic and ensuing work-from-home initiatives increased the demand for cloud solutions and other online services, the firm concluded.

Cloud-based contact centers are independent of location, enabling agents, supervisors, and administrators to access them from anywhere through a phone or internet connection. Among the benefits, cloud services are maintained and supported by the vendors themselves, save operational costs, and offer high business continuity

With the help of cloud-based solutions, contact center agents can enhance customer experiences through increased speed and better quality of call resolution. Moreover, a cloud-based contact center ensures business continuity by focusing on issues such as manageability, scalability, and higher efficiency, MarketsandMarkets' analysts concluded.

The firm includes omnichannel routing, interactive voice response systems, automatic call distributors, dialers, virtual agents, workforce management and optimization, call recording, quality management, reporting and analytics, speech and text analytics, and customer engagement management solutions in the list of solutions involved. It also includes services, such as consulting, implementation, integration, training, support, and maintenance.

Leading companies identified in the report include NICE, Genesys, Five9, Vonage, Talkdesk, 8x8, Cisco Systems, Avaya, Lifesize, Content Guru, Aspect, RingCentral, Enghouse Interactive, 3CLogic, Ameyo, Twilio, Vocalcom,and  EvolveIP. Other smaller system vendors identified included Pypestream, Techsee, Aircall, Sentiment Machines, Nubitel, Justcall, Dialer360, Servetel, Neodove, and Rulai.