Cloud-based Call Center Software Market - Introduction
- A tradition call center software solution helps enterprises to handle outbound and inbound telephony operations of businesses. Managers, agents, and call center supervisors can use it to handle outgoing calls, incoming calls, perform workforce management, track key call center metrics, and also load automated solutions for all commercial calls.
- A cloud contact center software is an advanced software tool that enables enterprises to manage customer communications (SMS & calls) over the internet platform, without investing in traditional business telephony setups in call centers.
- Cloud contact center software is cost efficient and helps businesses to gain more visibility and control over business operations.
- Cloud-based solution providers offer a universal virtual number for cloud-based call center systems that helps customers easily contact any customer care center of the company.
- It helps to personalize the business call flow to enhance the customer experience. Cloud- based call center software is also used to add a voicemail option and create personalized IVR greeting for callers. Smart call routing call center features diverts calls to the right agents based on the team’s availability and the customer’s input. Increasing demand for cloud-based solutions in call centers is expected provide business opportunities in the cloud-based call center software market.
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Key Drivers of the Cloud-based Call Center Software Market
- Growing demand for more scalability, flexibility, and faster deployment of services in call centers is expected to drive the growth of the cloud-based call center software market. This software enables companies to take faster decisions on traffic volumes during call center operations, which is expected to boost the growth of the market.
- Increasing adoption of advanced cloud-based call center software in different industry verticals is expected to generate revenue and advanced technological solution opportunities for software providers during the forecast period.
Increasing security threats related to sensitive and highly confidential data expected to hinder the market
- Increasing security threats and privacy concerns by adoption of cloud-based software in some industry verticals such as banking and in financial institutes may restrain the growth of the market.
- Companies are investing and monitoring data traffic and movement of data files on servers to avoid any kind of confidential information loss. This is also expected to hamper growth of the market.
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Impact of COVID-19 on the Global Cloud-based Call Center Software Market
- Contact centers are adopting the work from home business module to provide call center services to companies and customers. Companies are shifted their business process on to a cloud platform during the lockdown period to provide access and availability of the software tools to employees for voice support.
- Many companies now operate their businesses on online platforms due to the lockdown conditions; companies are adopting cloud-based call center software to secure the online platform for their customer database. Demand for cloud-based call center software solutions is increasing during COVID-19 and is also set to increase during the forecast period.
North America to Hold Major Share of the Global Cloud-based Call Center Software Market
- North America holds prominent share of the cloud-based call center software market due to increasing adoption of cloud-based services among small and medium size enterprises to reduce the investment in IT infrastructure.
- The cloud-based call center software market in Asia Pacific and Europe is expected to expand the fastest during the forecast period due to increasing adoption of cost effective advanced telephony solutions in the service industry to provide support to customers.
Key Players Operating in the Global Cloud-based Call Center Software Market
- Cisco Systems, Inc.
Cisco Systems, Inc. is a global provider of Internet Protocol (IP)-based networking technologies. The company offers routing and switching solutions, IP telephony, optical networking, security, storage, and networking and wireless technology. Cisco Systems, Inc. provides complete solutions for networking and enterprise voice and video communication and offers a broad range of services which include technical support and other advanced services. The company provides next generation firewalls, advanced malware protection, access points, optical networking, data center switches and security, virtual networking, and storage networking.
- 8x8, Inc.
8x8, Inc. is a leading global company engaged in the development and marketing of telecommunication services for web-based conferencing, UC, Internet Protocol, video applications, and telephony. It also offers cloud-based computing solutions and 8x8 virtual contact center services. The company’s unified solution provides key benefits such as a comprehensive UC SaaS suite and rapid cloud provisioning. 8x8, Inc. offers diverse business solutions including cloud contact centers, business phones, and virtual office apps.
Other key players operating in the global cloud-based call center software market include Genesys Telecommunications Laboratories, Inc., Oracle Corporation, Five9, Inc., Vonage Holdings Corp., Ameyo, and AVOXI, Inc.
Global Cloud-based Call Center Software Market: Research Scope
Global Cloud-based Call Center Software Market, by Component
- Agent Performance Optimization (APO)
- Automatic Call Distribution (ACD)
- Interactive Voice Response (IVR)
- Reporting and analytics
- Professional Services
- Managed Services
Global Cloud-based Call Center Software Market, by Deployment
- Public Cloud
- Private Cloud
- Hybrid Cloud
Global Cloud-based Call Center Software Market, by Enterprise Size
- Small & Medium Enterprises
- Large Enterprises
Global Cloud-based Call Center Software Market, by Industry
- IT & ITES
- Media and entertainment
- Healthcare and Life Sciences
- Retail & E-commerce
- Others (Education and Transportation & logistics)
Global Cloud-based Call Center Software Market Segmentation, by Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
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The study presents scrutiny of region-specific consumer and technology trends, including the most recent industry dynamics. These broadly cover but not limited to
- North America, South America, and the Americas
- Asia Pacific and Japan
- Latin America
- Middle East and Africa
The study offers data-driven insights and guidance of several aspects. Some of the more notable questions are:
- What are the major recent trends that can influence the product life cycle and the RoI?
- Which regulatory trends shape corporate-level, business-level, and functional-level strategies?
- Which micromarketing initiatives of leading players will bring in investments?
- What can be the best framework and tools for PESTLE analysis?
- Which regions will witness rise in new opportunities?
- Which are the game-changing technologies being used to capture new revenue streams in the near future?
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- What is the current and expected intensity of competition the market in the near future?
Disclaimer: This market research study is an ongoing effort and extreme care has been taken to maintain the highest levels of accuracy at all stages. However, in the light of the rapidly evolving business dynamics, some region-specific or other segment-specific changes may take time to be part of the study.