The Cloud-based Contact Center Market is projected to grow from $6.2 billion in 2024 to $86.4 billion by 2029, equivalent to a compound annual growth rate (CAGR) of 26.9%, driven by demand for omnichannel communication, support for remote workforce enablement and faster adoption of AI/automation.
That’s according to a new report by MarketsandMarkets, which also cites the requirement for customised and streamlined engagements, the increasing significance of social media in contact centre operations, sustained adoption of cloud technology generally and rapid rise in the implementation of specialist next-gen technologies.
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 personalised engagement regardless of channel, omnichannel routing software offers the flexibility and efficiency that contact centres need to meet these expectations.
By communication channel, the report says self-service segment is poised for the fastest growth rate during the forecast period. As customers increasingly seek quick resolutions and personalised 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, due to its robust IT infrastructure and early adoption of cloud technologies, which 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.
