The global Cloud Based Contact Center market and trends in our digital era

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For those who are unfamiliar, DigitalEcono recalls that, cloud-based contact center can be defined as a deployment model that allows businesses and organizations to host their contact centers in the third-party’s data center. The provider owns the call center technology and provides the services in a monthly subscription model.


Many analysts and solution providers segment this market by components, solutions, services, deployment models, applications, verticals and regions. 

In our highly competitive environment where costs, reliability, security, and flexibility are the game changer, Cloud-based contact center solutions are a set of solutions that streamlines the process of providing modernized, up-to-date services.

DigitalEcono observes that: a dominant factor driving the growth of this market is the financial benefit of moving expenses from capital expenditure to operating expenditure, avoiding costly infrastructure.

By deploying cloud-based contact centers, businesses can avoid upfront investment in infrastructure and vendor licenses, and can opt for a payment model based on the usage. 

A cloud-based contact center is easy and fast to deploy as the services are offered over the internet. Cloud call centers also enjoy unlimited scalability and flexibility as compared to on-premise centers.

However, high initial investment incurred to migrate to cloud and the risk of losing data is still curbing the growth of this market.

According to Research and Markets, various verticals, such as Banking, Financial Services, and Insurance (BFSI), IT and telecom, media and entertainment, and retail drive the rapid growth of the market, globally. 

The cloud-based contact center market size is expected to grow from USD 4.68 Billion in 2015 to USD 14.71 Billion by 2020, at an estimated Compound Annual Growth Rate (CAGR) of 25.7% from 2015 to 2020. 

Key players such as Interactive Intelligence, Cisco Systems, Five9, Oracle Corporation, and Genesys Telecommunications adopt various strategies including: product developments, partnerships, collaborations and business expansions to respond to the needs of the market.