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Cloud-Based Contact Center Market and its Key Opportunities and Challenges

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Cloud-Based Contact Center Market and its Key Opportunities and Challenges

October 29
09:47 2019
Cloud-Based Contact Center Market and its Key Opportunities and Challenges

8×8 Inc. (US), Five9 (US), Cisco Systems (US), Genesys (US), Oracle (US), NewVoiceMedia (UK), Connect First (US), Aspect Software (US), NICE Ltd. (Israel), and 3CLogic (US)
Cloud-Based Contact Center Market by Solution (ACD, APO, Dialers, IVR, CTI, Reporting and Analytics, and Security), Service (Professional and Managed), Application, Deployment Model, Organization Size, Vertical, and Region – Global Forecast to 2022

The Cloud-Based Contact Center Market accounted for USD 5.73 billion in 2016 and is projected to reach USD 20.93 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 25.2% during the forecast period, as per a report by MarketsandMarkets. 

Why opportunities may grow as increasing numbers of enterprises harnesses the benefits of cloud-based contact centers?

Enterprises are developing an increasing interest in utilizing the benefits of cloud-based contact centers and harnessing them as an asset. The availability of heterogeneous cloud platforms has increased the level of complexity. Therefore, enterprises are looking for easy-to-implement and cost-effective solutions. Due to the presence of several solution providers, enterprises are seeking new ways to enhance the business value. It is now possible to combine different business entities by utilizing new technologies and techniques that can enhance the business productivity. The possibilities of generating useful information that can be conveyed to the right people, at the right time, provide enterprises a competitive edge and help them improve their businesses operations. Therefore, harnessing the advantages of cloud-based contact centers is expected to offer several opportunities to enterprises.

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How poor IT infrastructure for cloud-based contact center adoption to pose a challenge?

Poor IT infrastructure is a big challenge in the cloud-based contact center market. Unavailability of dedicated infrastructure hampers communication and results in unsatisfactory delivery of voice and video services, and document sharing. Therefore, to ensure hassle-free communication, it is necessary to have a wide-ranging set of architecture with proper software support for the efficient delivery and support of voice and video content. Moreover, due to poor IT infrastructure, the major concerns faced by enterprises include security issues related to the corporate data, restricted access to specific resources, difficulty in switching to other networks, and blockage of the voice gateway.

The cloud-based contact center market includes various vendors, such as 8×8 Inc. (US), Five9 (US), Cisco Systems (US), Genesys (US), Oracle (US), NewVoiceMedia (UK), Connect First (US), Aspect Software (US), NICE Ltd. (Israel), and 3CLogic (US). These players have embraced different strategies to expand their global presence and increase their market shares. New product launches and partnerships/collaborations are some of the significant strategies embraced by the market players to accomplish developments in the cloud-based contact center market. Several companies, such as 8×8 Inc., Genesys, NICE Ltd., and Five9 have adopted these strategies to expand their product portfolios.

Speak to Our Expert Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=160166082

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