Cookie Preference Centre

Your Privacy
Strictly Necessary Cookies
Performance Cookies
Functional Cookies
Targeting Cookies

Your Privacy

When you visit any web site, it may store or retrieve information on your browser, mostly in the form of cookies. This information might be about you, your preferences, your device or used to make the site work as you expect it to. The information does not usually identify you directly, but it can give you a more personalized web experience. You can choose not to allow some types of cookies. Click on the different category headings to find out more and change our default settings. However, you should know that blocking some types of cookies may impact your experience on the site and the services we are able to offer.

Strictly Necessary Cookies

These cookies are necessary for the website to function and cannot be switched off in our systems. They are usually only set in response to actions made by you which amount to a request for services, such as setting your privacy preferences, logging in or filling in forms. You can set your browser to block or alert you about these cookies, but some parts of the site may not work then.

Cookies used

ContactCenterWorld.com

Performance Cookies

These cookies allow us to count visits and traffic sources, so we can measure and improve the performance of our site. They help us know which pages are the most and least popular and see how visitors move around the site. All information these cookies collect is aggregated and therefore anonymous. If you do not allow these cookies, we will not know when you have visited our site.

Cookies used

Google Analytics

Functional Cookies

These cookies allow the provision of enhance functionality and personalization, such as videos and live chats. They may be set by us or by third party providers whose services we have added to our pages. If you do not allow these cookies, then some or all of these functionalities may not function properly.

Cookies used

Twitter

Facebook

LinkedIn

Targeting Cookies

These cookies are set through our site by our advertising partners. They may be used by those companies to build a profile of your interests and show you relevant ads on other sites. They work by uniquely identifying your browser and device. If you do not allow these cookies, you will not experience our targeted advertising across different websites.

Cookies used

LinkedIn

This site uses cookies and other tracking technologies to assist with navigation and your ability to provide feedback, analyse your use of our products and services, assist with our promotional and marketing efforts, and provide content from third parties

OK
Become a Basic Member for free. Click Here

Investment in cloud technology: Why the cloud is such a hot prospect - Nicola Brookes - ContactCenterWorld.com Blog

Investment in cloud technology: Why the cloud is such a hot prospect

Cloud computing is fast becoming one of the most attractive industries to invest in. It has transformed the landscape of IT and as a result, it’s not surprising that the growth in cloud computing is outstripping the overall expansion of IT. It’s even continued to grow during the global recession.

The Growth of the Cloud: Key statistics

Cloud computing has raised the standards when it comes to IT infrastructure and access to software. Businesses that are yet to move to cloud are in a rush to embrace the technology, with 69% of CIOs surveyed planning to move to the cloud by the end 2014.

According to 451 Research, revenues in the public cloud market are set to grow at a compound annual growth rate of 36%, reaching at least $19.5 billion by the end of 2016. Plus, the study also showed that 69% of enterprises with separate budgets for cloud computing are planning to increase spending on cloud services in 2014.

And it’s not simply that businesses are planning to spend more. The scale at which the spending is increasing is remarkable – predicted to triple from 2011 to 2017. According to research firm, IHS, the $72 billion spent in 2011 will reach a figure of $235.1 billion just six years later.

Amidst global growth in cloud technology the US comes out top, accounting for 59% of all spending on cloud services from 2013 to 2016. Western Europe is currently a little way behind in second place, accounting for 24% of spending in that period.

But within the cloud technology industry, there are a variety of sectors and growth between these markets varies. At the moment, it’s SaaS solutions which are responsible for the bulk of the market revenue. If you look back at 2013, market revenue during this year reached $58 billion and SaaS solutions accounted for $36 billion of that total.

Quite simply, if cloud technology continues to grow at this rate, it won’t be long until cloud services become the norm in every office across the world.

How the Growth in Cloud Technology Affects the Contact Centre Market

If you look at the contact centre market in the US, you can see how cloud adoption began slowly and then spiralled. In 2008, the rate of adoption was only 2.2% but by the end of 2012, this had more than doubled to 5.9%.

However, what’s most interesting is what happens next. DMG predicts that by 2015 at least 18.1% of contact centres will be in the cloud.

There are several reasons to explain this sudden boost in cloud adoption. One of the main barriers preventing widespread adoption of cloud technology previously was security concerns, which most vendors have now overcome.

Also there’s the fact that the sector has seen huge investment, which has made cloud services increasingly efficient and cost-effective, widening the gap between what’s possible via the cloud and on-premise.

The gulf between the level of service offered by cloud solutions and traditional on-premise software is becoming so big, that many contact centres don’t see it as an option. Joining the cloud is fast becoming what people would expect.

Why Cloud Technology is No.1 Choice for US Venture Capital Investors

The figures speak for themselves and it’s not surprising that such incredible market growth has reached the ears of investors.

In the ninth annual Global Venture Capital Confidence Survey, US venture capital investors said that cloud technology was a market that they felt most confident in, compared with other leading sectors like mobile, enterprise software and healthcare IT.

At NewVoiceMedia, we’re seeing the result of this confidence in the cloud technology market. Last week, we secured Series E funding of $50 million from top technology investor, TCV and joined by existing shareholders BVP, Highland Capital Partners Europe, Eden Ventures, Notion Capital and salesforce.com. This has taken the total investment in NewVoiceMedia within the last 18 months, to $105 million.

Prior to this investment, we’ve seen huge growth, leading to doubling of staff over the last year to meet the demand for our technology. In the last financial year, our license revenue grew at over 100%, outpacing the market fivefold.

While the whole industry is a success story, NewVoiceMedia has been picked out of the rapidly expanding market for our proven business model and innovative technology.

“TCV’s strategy is to invest in leading growth technology companies with a proven business model. We were impressed with NewVoiceMedia’s experienced leadership team, clear vision, relentless focus on excellent customer service, extremely rapid expansion and innovative multi-tenant cloud contact centre platform. We are thrilled to have the opportunity to help NewVoiceMedia continue its impressive growth”, said John Rosenberg, TCV.

The global cloud technology market has experienced huge growth over the last decade and is forecasted to expand further with huge investment. We are poised to extend our global reach, with the right staff and technology to keep on growing.

What do you think the future has in store for cloud technology? Share your thoughts below.

Publish Date: July 28, 2014 4:50 PM

Industry Champion Award Leaderboard

Submit Event

Upcoming Events

Join professionals in the CX and contact center world at our online Expo, part of the 15th annual NEXT GENERATION Contact Center & Customer Engagement Best Practices event.

Attending the EXPO is FREE to any member of our association and you can me... Read More...
 1
 2043 
Share

Latest Americas Newsletter
both ids empty
session userid =
session UserTempID =
session adminlevel =
session blnTempHelpChatShow =
CMS =
session cookie set = True
session page-view-total =
session page-view-total =
applicaiton blnAwardsClosed =
session blnCompletedAwardInterestPopup =
session blnCheckNewsletterInterestPopup =
session blnCompletedNewsletterInterestPopup =