According to a research report "Cloud-based Contact Center Market by Offering (Software by Engagement Type and Services), Communication Channel (Voice, Digital, and Self-service), Application (Marketing Automation, Helpdesk Management), Vertical and Region - Global Forecast to 2029" published by MarketsandMarkets
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The Cloud-Based Contact Center Market is projected to grow from USD 26.2 billion in 2024 to USD 86.4 billion by 2029, at a compound annual growth rate (CAGR) of 26.9% during the forecast period. The cloud-based contact center market is expected to grow significantly during the forecast period, owing to various business drivers like rising requirement for customized and streamlined engagements, increasing significance of social media in contact center operations, sustained adoption of cloud technology in contact center infrastructure, and rapid rise in the implementation of next-gen contact center technologies.
By Software type, omnichannel routing software type to register for the largest market share during the forecast period
Omnichannel routing software type is projected to hold the largest market share in the cloud-based contact center market during the forecast period due to its ability to seamlessly integrate multiple communication channels, such as voice, email, chat, social media, and more. This software type addresses the growing demand for unified customer experiences, allowing businesses to efficiently manage interactions across various channels from a single platform. With consumers increasingly expecting consistent and personalized engagement regardless of channel, omnichannel routing software offers the flexibility and efficiency that contact centers need to meet these expectations.
By communication channel, self-service segment is poised for the fastest growth rate during the forecast period
Self-service communication channel is poised for the fastest growth in cloud-based contact center market due to their efficiency and convenience. As customers increasingly seek quick resolutions and personalized experiences, self-service options such as AI-powered chatbots, interactive voice response (IVR) systems, and knowledge bases offer round-the-clock assistance without the need for agent intervention. This not only reduces operational costs for businesses but also provides customers with immediate access to information and support, driving satisfaction and loyalty. The scalability and flexibility of cloud-based contact center solutions further enhance the appeal of self-service channels, making them a key driver of growth in the coming years.
By region, North America to account for the largest market during the forecast period
The region's robust IT infrastructure and early adoption of cloud technologies have paved the way for widespread acceptance of cloud-based contact center solutions. Additionally, the presence of major market players and technological innovators in the region, particularly in the United States and Canada, drives continuous advancements and deployments of cloud contact center services. Furthermore, the growing emphasis on customer experience and the need for scalable, flexible, and cost-effective customer interaction solutions propel the demand for cloud-based contact centers, with North American businesses recognizing the efficiency gains and agility afforded by these platforms.
Some major players in the cloud-based contact center market include NICE (Israel), AWS (US), Genesys (US), Vonage (US), Five9 (US), along with startups such as Pypestream (US), TechSee (Israel), Aircall (France), Sentient Machines (UK), Nubitel (Singapore).
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