Evaluating Cloud-Based Contact Center Market Viability | 2032

1
Evaluating Cloud-Based Contact Center Market
Viability By Sukanya Mukherjee Hosted by a
business server, a cloud-based contact center is
the enterprise hub and enables customer
communications. In addition, as this center is in
the cloud, it interacts with customers, including
outbound as well as inbound communication, using
social media, email, voice, and the internet.
Cloud- based contact centers require internet
access with sufficient bandwidth to accommodate
them. Our analysis at Inkwood Research predicts
that the global cloud-based contact center market
is set to propel with a 21.54 CAGR by the end of
the assessment years 2022-2030. A cloud-based
contact center solution creates a single system
to ease the connection between agents and
customers by combining various communication
channels, like instant messages, phone calls, and
emails. In addition, these contact centers also
offer supervisors management tools to efficiently
run the workforce. As a result, cloud contact
centers find extensive applications in
healthcare, consumer goods, retail, government,
banking, information technology (IT),
telecommunication, financial services and
insurance (BFSI), and manufacturing sectors
globally.
Cloud-Based Vs. On-Premise Contact
Centers Organizations like Microsoft, Cisco,
Five9, etc., compare cloud and on-premise contact
centers using a few criteria.
2

• Most frequently analyzed features of their types
  are below
• Set Up Implementation of on-premise contact
  centers needs several months as companies set up
  the infrastructure and purchase licenses
  hardware along with compatible software. In
  contrast, setting up cloud-based contact centers
  requires installing computer apps that function
  out of the box.
• Cost Companies determine their overall capital
  or operating expenditures while opting between
  on-premise and cloud contact centers. On-premise
  contact centers require upfront costs for
  hardware, licenses, and onsite housing servers.
  On the other hand, cloud contact centers do not
  require a large upfront infrastructure or
  hardware cost if the organization has a good
  internet connection with sufficient bandwidth.
• Cloud-Based Contact Centers Across Diverse
  Industries
• Most organizations are transitioning from
  on-premise contact centers to modernized
  cloud-based contact centers. These enable
  enterprises across various end-user industries to
  carry out customer communications over the
  internet.
• Major end-user industries include BFSI, IT and
  telecom, media and entertainment, retail and
  consumer, logistics and transport, and
  healthcare.
• BFSI The BFSI industry is projected to witness
  significant growth for cloud-based contact
  centers.
• Many financial institutions are implementing
  cloud-based solutions to make the facilities
  convenient. With the rising adoption of
  cloud-based solutions and services, the banking
  and financial services sector is providing
  exciting opportunities for market growth.
• According to Financial News London, around 80 of
  IT spending in the banking sector is on
  technology maintenance. Up to 300 million
  annually is spent managing and maintaining these
  disparate systems. Factors such as these
  necessitate investments in cloud-based solutions,
  on-premise or private and public cloud services,
  with banking organizations committed to achieving
  better scalability and integrated communication
  between disparate systems.
• IT Telecom Telecom is among the sectors with
  a significantly high data generation rate.
  Further, companies offer cloud services for
  large-scale data integration. As the clouds
  relevance is expanding among telecom clients, the
  partnership between the cloud offering and
  telecom companies is a common trend witnessed
  throughout the globe. Additionally, as telecom is
  emerging as the major industry everywhere in the
  world, this strategy is also aiding in
  geographical expansion.
• Google Inc, a prominent public cloud provider,
  has enabled an option for logging and monitoring
  network traffic for security and performance
  issues. Google introduced Virtual Private Cloud
  (VPC) flow logs, a function that allows tracking
  network flows in a near real-time manner.
• Omnichannel Solutions Future of Cloud Contact
  Centers
• For decades, call centers have been leveraging
  advanced technologies such as first-gen call
  routing systems. As a result, the first wave of
  CCaas (contact center-as-a-service) began in the
  early 2000s when many companies saw the huge
  opportunity to take a traditional call center
  software and host it over the internet or the
  cloud.

3
Initially viewed as a reactive solution, contact
centers are now considered a strategic customer
engagement tool where stronger customer
relationships can be fostered. Businesses often
do not realize that their customers are talking
about them or to them on social media. As a
result, omnichannel is anticipated to play a
vital role in the future of the contact center
industry by providing a definite communication
bridge between the consumer and the company. The
omnichannel technology will enable agents and
company representatives to connect with the
customer using their preferred strategy,
providing additional convenience for both
sides. Therefore, the shift toward cloud
migration opens a world of remote opportunities,
allows agents to work anywhere, and drives the
growth of the global cloud-based contact center
market.

• Frequently Asked Questions (FAQs)
• What are the segments analyzed in the global
  cloud-based contact center market report?
• A Component, deployment, organization style, and
  end-user segments are analyzed in the global
  cloud- based contact center market report.
• Which regions are assessed in the global
  cloud-based contact center market?
• A Asia-Pacific, Europe, North America, and Rest
  of World are assessed in the global cloud-based
  contact center market.