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Cloud based contact center industry explored in latest research

IT Market Research

The Global Cloud Based Contact Center Market is accounted for $6.17 billion in 2016 and expected to grow at a CAGR of 25.9% to reach $30.98 billion by 2023.

According to Stratistics MRC,  Factors such as cloud compliance requirements, disaster recovery, agility and scalability, rising acceptance of home-based work and enhanced business continuity will boost the market growth.

However, risk of initial investment and data security issues are restraining the market growth.

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On the basis of solutions, the dialer segment is contributing towards the highest market share during the forecast period.

As dialer solution is a part of outbound dialing technology. Some of the major benefits which have led to the high demand for dialers include, various dialers such as progressive dialers systems and preview dialers offer automatic dialing when the agent is ready, all along with other benefits such as external table dialing and dynamic filtering. 

In terms of geography, North America is expected to hold the largest market share due to the larger internet penetration rate and quick shift from isolated infrastructure to cloud in this region. On the other hand, Asia Pacific is anticipated to grow at a highest rate owing to greater acceptance of cloud-based solutions, increasing market for analytics, retail and distribution activities and emerging technologies are some major drivers in this region.

Some of the key players in this market include Oracle Corporation, Genesys Telecommunications Laboratories, Inc., Five9, Inc., Cisco Systems, Inc., 8x8, Inc., Nice-Systems Ltd., 3clogic, Aspect Software Parent Inc., Connect First, Inc., Incontact, Inc, Broadsoft, Inc., Evolve IP, LLC., Liveops Cloud, Mitel Networks Corporation, Newvoicemedia Interactive Intelligence, AVOXI and CloudAgent.

Verticals Covered:
• Government and Public Sector 
• Consumer Goods and Retail 
• Media and Entertainment 
• Healthcare and Life Sciences 
• Banking, Financial Services, and Insurance (BFSI) 

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Service Types Covered:
• Managed Services
• Professional Services 

Applications Covered:
• Call Routing and Queuing 
• Data Integration and Recording 
• Real-Time Decision Making 
• Workforce Optimization
• Chat Quality and Monitoring 

Organization Sizes Covered:
• Small and Medium Enterprises (SmeS) 
• Large Enterprises

Solutions Covered:
• Interactive Voice Response (IVR) 
• Automatic Call Distribution (ACD) 
• Dialers 

 

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