Analyst firm, Frost and Sullivan, has predicted that the hosted contact centre market will grow at a compound annual growth rate (CAGR) of 7 per cent between 2014 and 2021.
The findings are contained in its latest report, Australian Contact Centre Market 2015. which claims the the contact centre market grew by more than 12 per cent over 2013 to reach in excess of $260 million in 2014.
The analyst found the hosted contact centre market will exceed a CAGR of 7 per cent between 2014 and 2021, while the Cloud contact centre solutions market will surge ahead with CAGR expected to exceed 35 per cent in that same time frame.
The report said Telstra dominated the hosted contact centre market, holding a 65 per cent plus market share. Interactive Intelligence's Communications-as-a-Service (CAAS) made it a strong contender, recording more than 50 per cent growth year-on-year in the same space.
Optus, BT, NEC, Dimension Data, Amcom, Ethan Group and Global Speech Networks were the other notable participants in this market.
Frost & Sullivan head of ICT Research, Frost & Sullivan A/NZ ICT Practice, Audrey William, said that IPscape, LiveOps and NewVoiceMedia dominate the Cloud contact centre market. Collectively, these companies account for more than 95 per cent of the market share.
Security and privacy concerns paired with a lack of quality network connectivity were factors hindering the takeoff of the Cloud contact centres according to the report.
Frost & Sullivan Industry analyst, Australia/NZ ICT Practice, Sandeep Karuppuswamy, said that once these challenges are mitigated, the market will witness a strong uptake of Cloud contact centre solutions.
Major advantages offered by Cloud-based contact centres include speed of service regarding deployments, upgrades and addition of capacity.