Frost & Sullivan has identified Five9 as a Growth and Innovation leader in the Frost Radar™: North American Enterprise Cloud Contact Center Market, 2021. A leading provider of cloud contact center software, Five9’s keen focus on developing enterprise-class platform capabilities and its artificial intelligence (AI)-infused solutions that help facilitate digital transformation for its customers have placed it high on the Radar Innovation scale.
The mature North American Contact Center as a Service (CaaS) market is expected to grow from $2.1 billion to $4.1 billion by 2026. In recent years, the expansion of hybrid cloud offerings and the alleviation of many data security and scalability concerns about cloud deployments have led to an increase in the large enterprise portion of the market shifting toward full cloud models. Remote work mandates due to COVID-19 have accelerated this migration, opening the door for enterprise-class providers to grow share even further.
In particular, Enterprise Cloud Contact Center (ECCC) providers need to provide robust outbound solutions that adhere to regulatory compliance requirements, omnichannel service, and streamlined migration paths. In catering to these requirements, the ECCC provider must be equipped with emerging technology and advanced tools to introduce reimagined contact center platforms with next-generation development tools and omnichannel workflows.
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“Since 2019, Five9 offers expanded scalability to support thousands of agents on a single-tenant domain,” explained Nancy Jamison, Industry Director, ICT at Frost & Sullivan. “Through talent investment and acquisition, the company has gained new functionalities to enable its continued growth and has invested heavily in the area of AI technologies, becoming a top performer in the market.”
“We are honored to be recognized by Frost & Sullivan as a growth and innovation leader in the North American Enterprise Cloud Contact Center Market,” said Genefa Murphy, Chief Marketing Officer at Five9. “This award also serves as encouragement to our team as we continue to innovate and deliver leading-edge services and solutions, helping enterprises manage and optimize all aspects of the customer experience in this evolving business climate.”
Five9 is poised for high growth and can effectively support its customers thanks to its:
- Intelligent Cloud Contact Center, a multitenant, multi-cloud CCaaS solution that incorporates functionality to foster AI-infused digital transformation.
- Workflow Automation permitting connection to other systems and aggregation of data in real time, visualization of information across Five9 and other systems, and reaction to events in real time with intelligent workflows.
- Agent Assist that can significantly cut down on agent work time and increase workforce engagement management (WEM).
- VoiceStream, a next-gen recording platform that is a modern, cloud-to-cloud, real-time media streaming application performance interface (API).
- Best-in-class professional services delivery, which will go live in as little as 30 days (for smaller businesses and commercial accounts).
Frost Radar™: North American Enterprise Cloud Contact Center Market, 2021 provides results from an in-depth analysis built on a 360-degree research methodology where 24 companies were evaluated. The team of industry analysts identified 12 industry leaders excelling at innovation, most poised for growth and ripe for investment, and recognizes them in the Frost Radar with insight into their innovative offerings, projected growth rates, strengths, and opportunities for the future.