India
cloud-based contact center market is
anticipated to grow at a high CAGR in the forecast period 2024-2029. The rising demand
from BFSI industry has led to an increasing focus on cloud-based contact centers
to overcome the need for effective customer experience. In
addition, technological advancement such as installment
of 5G infrastructure for faster internet connectivity and growth in cloud
services has further boosted the demand for cloud-based contact center. Government policies measures such as Make in
India initiative, digital India, and the evolution of cloud computing (Meghraj)
in government organizations are further increasing the demand for more cloud-based
contact centers across the country. Moreover, the cost expenditure in online
education is less as comparison with traditional programs therefore low income
and middle-income class customers are relying more on cloud-based contact
center platforms. The market is anticipated to be driven by the cloud
infrastructure, which enables remote contact center to progress towards digital
transformation thus relying on cloud-based contact center establishment for rapid
expansion of the target audience are driving the market. Additionally, service providers are
offering innovative solutions by integrating technologies such as artificial
intelligence (AI), Internet of Things (IoT), machine learning (ML) to cater to
customer needs, aiding customer service and market requirements to impose a positive outlook are promoting the development of the cloud-based contact center
market of India during the forecast period. A cloud-based contact center is an online solution that
connects employees to inbound and outgoing telephone connectivity through the
internet. Typically, employees would use a cloud contact center to
initiate and receive calls from their personal computers. The main advantage of
cloud-based solutions is that they make technology readily available to
customer service enterprises, providing an improved customer experience (CX).
This might incorporate less difficult remote access, less complex mixes of
extra usefulness like labor force the board and admittance to the most recent
innovation. Cloud-based contact centers, as opposed to commercial VoIP,
simplify client interactions over a variety of channels, including phone,
email, text, social media, and more. Moreover, a cloud-based contact center is
not bound to a particular server or physical location, in contrast to on-premises
systems or hosted contact center. Instead, it is accessible through the cloud
from any location by any team member.
It provides cutting-edge capabilities
that are not available via the on-premises phone system. A contact center's
responsibilities often go beyond addressing customer care inquiries to
fostering client success indemnifying salespeople multimedia engagement tools
that go beyond automated dialers. Since cloud-based contact centers provide
secure data linkages and limitless customization options, they are the most
effective means for service and sales teams to achieve their business goals.
Several advantages such as improvement in the customer experience, increasing
reliability, cost control, intelligent routing, accessibility in call tracking
and analytics, and others are further enabling the adoption of cloud-based contact
center by several enterprises.
Adoption of Remote Contact Center Drives the Market
Growth
The enterprises in the Indian market are becoming
increasingly familiar with the concept of remote contact center. The
proliferation of remote work has enabled several customer service providers to
increase their dependency on remote contact centers. Traditionally, the contact
centers were heavily relying on the infrastructure as many businesses were
required to empower each agent with a dedicated device interconnected with
network in a way the customer queries can be solved smoothly. This has put Indian
enterprises to heavily depend on infrastructure to maintain the interaction
records, report analysis and real-time monitoring. With the adoption of online
education, permanent remote work, and several initiatives such as digital India
across the country. Vernacular services in the contact centers are playing a
crucial role for businesses with clients across India. Enterprises such as
EdTech, Business process outsourcing (BPO) firms are rapidly increasing the
integration of remote technologies like remote contact centers as a
cost-effective solution. These remote technologies are offering an option that
allows agents to answer calls, chats, or emails using their personal devices.
Furthermore, the recently unveiled framework for other service providers (OSP)
by the Department of Telecommunication (DoT) is bringing new opportunities and
promoting remote working technologies. Thus, adoption of remote contact center
is driving the growth of India cloud-based contact center market in the forecast
period.
Increasing
Adoption of Cloud Computing Environment
The
popularity of cloud computing is accelerating and expanding tremendously in
India. This is due to the government's encouragement of adopting cutting-edge,
developing technologies as well as best practices drawn from various cloud
deployment scenarios and application domains. Cloud computing service providers
are making investments in new data centers and cloud regions in India to meet
this expanding demand. As India is ushering towards “Digital India” it becomes
essential for the government to embrace the cloud to enhance governance and
meet the citizen expectations. In addition, due to the various advantages such
as minimized IT costs with the reduction of delivery times, reduced capex and
opex to deliver business services, the demand for enabling cloud computing by
the enterprises are rising. This has enabled many services providers to adapt
cloud as an essential technology platform to increase their product demand. Therefore,
increasing adoption of cloud computing environment are attributing the growth
of cloud-based contact center in the Indian Market.
Rising Demand from BFSI Industry are
Propelling Growth
The
convergence of Artificial Intelligence (AI) integrated cloud services is
empowering the BFSI industry to reimagine their business from front-end to
back-end, making financial services more accessible than before. Many financial
institutions are implementing cloud-based solutions to make their facilities
more convenient. The pandemic has led to accelerate the digital transformation
of businesses. Many banking enterprises in India are integrating the cloud
platforms to proliferate the digitalization. Several financial institutions are
adopting cloud-based AI-based algorithms to better detect fraud and handle
complicated consumer questions. Additionally, several enterprises have started
launching the cloud-based solutions to overcome the need for effective customer
experience and support lean business growth. For
instance, Tata Tele Business Services (TTBS), a leading enabler of connectivity
and communication solutions for businesses has created the "Smartflo"
cloud-based contact center suite to aid Fintech enterprises by improving their
telephonic client services while enabling workforce to operate from any
location. Moreover, the need to improve the infrastructure related security and
application security such as backup systems, cloud-based firewalls, cloud-based
penetration testing, and IPS systems etc. in BFSI industry has increased the
demand for using cloud as a cutting-edge solution. Furthermore, cloud-based
contact centre improves operational efficiency and optimize the flexibility of
entire business while moving to the cloud. Therefore, rising demand from BFSI
industry to use the power of Cloud for credit-risk simulations, AI-driven
underwriting to quickly provide loans for unsecured businesses and many more are
drawing attention to more and more customers to adopt Cloud-based Contact
Center.
Recent
Development
· On
April 18, 2023, Teckinfo Solutions Pvt. Ltd, a software product firm, announced
the launch of its latest offering, ID Cloud Premium Contact Centre Software
platform. With its most recent product, ID Cloud, the company aims to give
businesses of all sizes a comprehensive customer engagement platform that
streamlines and simplifies client contact.
· On
March 01, 2023, EXOTEL, full-stack customer engagement platform announced the
launch of cloud-based omnichannel contact center solution “Ameyo XTRM”. The new
platform is a pure cloud-based enterprise product, equipped with AI-powered
bots that serve as the initial point of contact for customers before agents
must step in, minimizing the requirement for agent involvement and increasing
agent productivity.
· On Dec
07, 2022, Lumen Technologies, a multinational technology firm announced the expansion
of its partnership with Genesys Cloud, a Contact Center as a Service (CCaaS)
provider to offer holistic, cloud-based solution for contact centers. The
partnership enables a smooth transition from traditional, expensive contact
centre services to an adaptable, cloud-based or hybrid solution that promotes
client retention, boosts efficiency, and lowers expenses.
Market Segmentation
India cloud-based contact center market
is segmented based on component, deployment, enterprise size, end-user, and
region. Based on components, the market is segmented into
solutions and service. The solution segment is further categorized into
automatic call distribution, agent performance optimization, interactive voice
response, computer telephony integration, analytics & reporting, dialers,
and others. The service segment is further categorized into professional and
managed. Based on deployment, the market is segmented into public, private, and
hybrid. Based on enterprise size, the market is divided into Small & Medium
Enterprise, Large-Sized Enterprise. Based on end-user, the market is segmented
into telecom & information technology, BFSI, healthcare, retail,
government, manufacturing, and others.
Market Player
Major market
players in the India cloud-based contact center market are Genesys Telecom Labs India Pvt Ltd., I3clogic Technologies Private Limited, Avaya India Private Limited, Tragofone,
8x8 India Private Limited, Mitel
Networks Private Limited, ECISCO Systems (India)
Private Limited.
Download Free Sample Report
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Attribute
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Details
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Base Year
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2023
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Historic Data
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2019 –
2022
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Estimated Year
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2024
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Forecast Period
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2025 – 2029
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Quantitative Units
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Revenue in USD Million and CAGR for 2019-2023 and 2024-2029
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Report coverage
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Revenue
forecast, company share, growth factors, and trends
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Segments covered
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Component
Deployment
Enterprise Size
End-User
Region
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Country scope
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India
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Region scope
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East, West, North and South
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Key companies profiled
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Genesys
Telecom Labs India Pvt Ltd., I3clogic Technologies Private Limited, Avaya
India Private Limited, Tragofone, 8x8 India Private Limited, Mitel Networks
Private Limited, ECISCO Systems (India) Private Limited
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Customization scope
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10% free report customization with purchase. Addition or
alteration to country, regional & segment scope.
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Pricing and purchase options
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Avail customized
purchase options to meet your exact research needs. Explore purchase options
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Delivery Format
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PDF and Excel
through Email (We can also provide the editable version of the report in
PPT/Word format on special request)
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Report Scope:
In this report, the
India cloud-based contact center market has been segmented into the following
categories, in addition to the industry trends which have also been detailed
below:
- India Cloud-based Contact
Center Market,
By Component:
o Solutions
§ Automatic Call Distribution
§ Agent Performance Optimization
§ Interactive Voice Response
§ Computer Telephony Integration
§ Analytics and Reporting
§ Dialers
§ Others
o Service
§ Professional
§ Managed
- India Cloud-based Contact Center Market, By Deployment:
o Public
o Private
o Hybrid
- India Cloud-based Contact Center Market, By Enterprise Size:
o Small & Medium Enterprise
o Large-Sized Enterprise
- India Cloud-based Contact Center Market, By End User:
o Telecom & Information Technology
o BFSI
o Healthcare
o Retail
o Government
o Manufacturing
o Others
- India Cloud-based Contact Center Market, By Region:
o East India
o West India
o North India
o South India
Competitive Landscape
Company
Profiles: Detailed
analysis of the major companies present in the India Cloud-based Contact Center market.
Available Customizations:
India cloud-based contact
center market report with the
given market data, Tech Sci Research offers customizations according to a
company's specific needs. The following customization options are available for
the report:
Company Information
- Detailed analysis and profiling of
additional market players (up to five).
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cloud-based contact center market is an upcoming report to be released soon. If you wish an early delivery
of this report or want to confirm the date of release, please contact us at [email protected]