Synergy Research Group's latest research found that the cloud contact centre market has sustained its momentum and accelerated by 16.3% in 2024 to reach $6.2 billion.
Synergy confirms the sector's strong, consistent growth, adding nearly $1 billion in incremental value annually for over five years and making it one of the most consistent, high-growth segments in the enterprise communications market.
Industry players
Almost all market players showed consistent quarter-on-quarter growth and significant year-on-year revenue increases, such as Zoom, Cisco, Ujet, and RingCentral, which have emerged as top performers in the cloud contact centre market by delivering Artificial Intelligence (AI)-powered cloud-native solutions.
"Q4 and full-year 2024 marked another strong performance for the cloud contact centre market. NICE, Genesys, and Five9 together hold over 50% market share, but emerging challengers continue to show impressive momentum and rapid growth," said Fazil Balkaya, principal analyst at Synergy Research Group.
Top performers
The top market performers' strengths include leveraging video meeting leadership and AI capabilities (Zoom) and bringing security and scale to its large customer base (Cisco).
Moreover, UJET has offered a modern, mobile-first platform with CRM integration, RingCentral is executing well with UCaaS bundling and strategic partnerships, and TalkDesk continues to build momentum with its vertical-specific CX solutions and AI/ML-powered automation.
"With nearly two-thirds of named contact centre agents still operating on legacy hosted platforms, cloud migration is still in its early stages, presenting substantial growth opportunities. Accelerating this growth further is the expanding influence of AI in the cloud contact centre market," said Balkaya.
