DUBLIN, Sept. 26, 2023 /PRNewswire/ — The “Contact Center As A Service (CCaaS) Market Size, Share & Trends Analysis Report By Solution, By Service (Support & Maintenance, Integration & Deployment), By Enterprise Size, By End-use, By Region, And Segment Forecasts, 2023-2030” report has been added to ResearchAndMarkets.com’s offering.
The global contact center as a service market size is expected to reach USD 17.12 billion by 2030, registering a CAGR of 19.1% from 2023 to 2030,
The Contact Center as a Service (CCaaS) market is experiencing significant growth, propelled mainly by the rising adoption of cloud-based services that offer enterprises enhanced flexibility and customer convenience.
These cloud-based contact centers are increasingly popular due to reduced IT-related costs and simplified integration and support. For example, Infosys unveiled Infosys Cortex in January 2021, a platform developed in collaboration with Genesys and Google Cloud that aims to revolutionize customer engagement through advanced AI and analytics.
In a bid to expand global reach and capabilities, many CCaaS providers are entering strategic partnerships. A notable example is the recent collaboration between U.K.-based telecom provider BT and CX Platform leader Five9. This partnership aims to facilitate the complete digital transformation of workplaces by offering a comprehensive range of contact center solutions that integrate seamlessly with existing systems.
One of the market accelerators is the Business Intelligence (BI) technology, which is being widely adopted by organizations to gain a well-rounded view of agent performance and measure organizational goals more effectively.
The COVID-19 pandemic has acted as a catalyst for the market, enhancing the attractiveness of cloud-hosted contact centers. These solutions offer heightened reliability, availability, and disaster recovery options. They also provide better workforce elasticity, allowing for easy scaling and rapid deployment of new technologies.
Despite the robust growth, data security concerns pose a challenge to the market. As CCaaS solutions manage extensive consumer data, including critical financial information, they are potential targets for cyberattacks, which could hinder market expansion.
In summary, technological advancements and strategic partnerships are propelling the CCaaS market to new heights, despite the potential risks associated with data security. The emphasis on customer service quality and operational efficiency is expected to keep driving the market forward.
Contact Center As A Service Market Report Highlights
- In terms of solution, the customer collaboration segment is expected to witness the highest Compound Annual Growth Rate (CAGR) over the forecast period. This can be attributed to the rising focus of businesses on offering enhanced customer satisfaction by solving their issues and promptly attending their calls
- In terms of service, the managed services segment is likely to register the highest CAGR over the forecast period. The increasing need for monitoring IT operations, data backup and recovery, help desk support, and security is expected to drive the demand for managed services over the forecast period
- In terms of enterprise size, the small and medium enterprises segment is likely to register the highest CAGR. Convenient service delivery and the low cost of investment related to CCaaS is boosting its adoption across small & medium enterprises
- In terms of end use, the consumer goods and retail segment is expected to provide promising growth opportunities to the marketdue to the increasing focus on enhancing customer experience, improving sales and marketing effectiveness, and enabling seamless omnichannel customer interactions in the highly competitive retail industry
- The North American regional market dominated in 2022 and is likely to present promising growth opportunities for the market over the forecast period as well. The Asia Pacific regional market is expected to witness the highest growth owing to the increasing industrial expansion and development in emerging economies of the region
Company Profiles
- Alcatel Lucent Enterprise
- Avaya, Inc.
- Cisco Systems, Inc.
- Enghouse Interactive, Inc.
- Five9, Inc.
- Genesys
- Microsoft Corporation
- NICE inContact
- SAP SE
- Unify, Inc.