Cloud-based Contact Center Market Segmentation:
Component (Software, Service)
The service segment is anticipated to dominate the cloud-based contact center market, with a share of 68% by 2035. Managed services are garnering a considerable demand from businesses as companies search for assistance in implementing, maintaining, and optimizing their cloud-based systems. These services help organizations scale securely and meet dynamically changing industry standards. For instance, in May 2023, IBM introduced the IBM Hybrid Cloud Mesh, which is a SaaS solution addressing the need for hybrid multi-cloud architectures. Such innovations by companies have heightened the growing need for managed cloud services while enhancing contact center performance. As a result, these factors combined propel market growth.
Organization Size (Large Enterprises, Small and Medium Enterprises (SMEs)
The large enterprises segment is likely to drive the cloud-based contact center market, holding a share of about 63.5% by 2035. Large organizations have to deal with a significant volume of calls and complex interactions across different verticals like finance, healthcare, and retail. Due to growing globalization, large enterprises are considering cloud contact center solutions for managing distributed teams and offering 24/7 customer support. For example, EY announced a retail solution also termed smarter retail, on Microsoft Cloud to improve customer shopping experiences that launched in January 2023. Developments such as these indicate that large enterprises would grow more dependent on cloud-based contact centers during the forecast period.
Our in-depth analysis of the cloud-based contact center market includes the following segments:
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