Contact Center as a Service (CCaaS) Market: Global Industry Analysis and Forecast (2024-2030)

Contact Center as a Service (CCaaS) Market size was valued at US$ 3.62 Bn. in 2023 and the total revenue is expected to grow at 17.8 % through 2024 to 2030, reaching nearly US$ 11.42 Bn.
Contact Center as a Service (CCaaS) Market Overview:
Expanding necessity for improved and consistent end-to-end customer experience is a key factor driving business sector income development. Fast reception of cloud-based contact centres and expanding mix of Application Programming Interface (API) empowering centralization of information for simple access are a portion of the main considerations adding to the quick interest for CCaaS arrangements. Arrangement of omnichannel correspondence and execution of computerized innovations, for example, man-made reasoning empowers centralization of every customer connection which gives an upper hand to ventures. CCaaS empower automation of manual and repetitive as well as furnishing data with different tools and assets to specialists, expanding position fulfilment and efficiency.To know about the Research Methodology :- Request Free Sample Report
Contact Center as a Service (CCaaS) Market Dynamics:
Advances like self-administration, chatbots, and automated steering empower organizations to serve more customers productively and cost-really. A mix of email, portable, online entertainment, and ongoing talk with CCaaS arrangements into a bound together stage offers legitimate following of data and the excursion of the customer in this way permitting consistent connection. As per research, 68% of customers are annoyed when their call is moved between divisions. Nonetheless, practically 57% of buyers say that customer administration is key for them to feel devotion toward a brand. Organizations utilizing deals and support tools have 128% more leads, 120% more arrangements made, and 110% more arrangements won each quarter.

Sector, for example, medical care can use significant elements of CCaaS for further developed admittance to mind, booking comfort, decreased unique language administration expenses, and low affirmation rates which further develops the general customer experience. Consistent omnichannel customer administration with improved steering abilities gives functional proficiency to different sectors, particularly in monetary and telecom administrations. An upgraded labor force lessens the necessity of employing additional colleagues which is cost-effective for organizations, thus adding to the new flood popular for CCaaS across both huge and little and medium ventures. Nonetheless, developing information security and fake cases like fraud, are a portion of the factors limiting the development of the market.

The requirement for better contact place administrations is probably going to increase as firms understand this and spotlight the need to further develop customer experience, driving the market through the forecast period. Contact Centre as a Service (CCaaS) is a cloud-based sending worldview that permits an organization to utilize the customer experience arrangement of a contact place supplier to offer proper types of assistance to its buyers. It empowers organizations to capitalize on a contact place supplier's product by buying the very includes they require, eliminating the requirement for inner IT support.

Customers are turning out to be more aware of advanced issues. Customer experience digitization supports the conveyance of further developed administrations. This, thus, helps the market. The contact place as a help (CCaaS) market is likewise being driven by different nations' digitization goals. The worldwide contact place as a help (CCaaS) market is impacted by innovative headways. Contact focus as a help advantage like quicker administration, better consistency on the board, adaptability, and examination are probably going to drive fast reception of contact focus as a help arrangement across the globe. these opportunities are expected to drive the market through the forecast period.

In recent years, rising information security concerns are supposed to hamper market development. Customer data, for example, instalment card numbers and wellbeing data is stored at contact centres, which are helpless against both outer and inner information hacking and breaks. Besides, because of the mix of data sets, organizations, working frameworks, exchange the board, and virtualization, distributed computing faces outer security concerns, among others. These factors are expected to hinder the market through the forecast period
Contact Center as a Service (CCaaS) Market Segment Analysis:
By Function, the market is classified into Automatic Call Distribution, Call Recording, Computer Telephony Integration, Customer Collaboration, Dialer, Interactive Voice Response, Reporting & Analytics, Workforce Optimization, and Others. The Automatic Call Distribution segment has dominated the market in recent years. the segment is accounted for more than 22.0% share of the worldwide revenue. The automatic call distribution arrangement is widely adopted in contact centres as it helps them to handle a large volume of inbound calls. This arrangement routes the approaching calls to specific agents or departments inside an association based on the pre-set distribution rules. It likewise helps the callers when the call volume is excessively high, or the call centre agents are occupied, hence giving a better customer experience.

The customer collaboration segment is anticipated to register the fastest CAGR through the forecast period. Customer collaboration provides enterprises with enhanced customer fulfilment by quickly tackling and attending to their issues. The increasing need to gather and use customer feedback to improve item or service offerings is expected to drive the segment development over the forecast period. Moreover, customer collaboration devices enable contact centre supervisors and managers to review careful reports and dashboards related to agent efficiency.

By Enterprise Size, the market is classified into Large Enterprises, Small & Medium Enterprises (SMEs). The Large Enterprise segment is expected to dominate the market through the forecast period. Large enterprises have a customer base spread widely across the world and hence to keep up with business coherence efficiently, large enterprises are aggressively investing in the advanced contact centre as a service technology. These services help large enterprises in offering a better customer experience and reducing operational expenses. As large enterprises deal with high call volumes, they take on CCaaS answers to provide an excellent customer experience.
Contact Center as a Service (CCaaS) Market Regional Insights:
North American region is expected to dominate the market through the forecast period and it is expected to grow at the highest CAGR through the forecast period, as the region has acquired about 35.1 % of the market share in recent years. Various players across this region are zeroing in on fostering the CCaaS meant to give better client care. For example, in November 2023, Microsoft, an innovation supplier, reported the launch of the Dynamics 365 Customer Service, which offers a 360-degree perspective on the clients across every one of the channels, permitting the specialists to comprehend the client venture rapidly. Such drives look good for the development of the regional segment.

The Asia Pacific region is expected to grow at the highest CAGR through the forecast period. The e-commerce industry in the region is making a huge commitment to the rising demand for CCaaS arrangements in contact centres. The promising pace of modern expansion and development in the region is likewise anticipated to create various opportunities for regional market development. Furthermore, the little and medium enterprises in the region are taking on CCaaS arrangements attributable to the different benefits offered, including the reduction of operational expenses, increase in ROI, and enhanced customer experience.

The objective of the report is to present a comprehensive analysis of the Contact Center as a Service (CCaaS) Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Contact Center as a Service (CCaaS) Market dynamics, structure by analyzing the market segments and project the Contact Center as a Service (CCaaS) Market size. Clear representation of competitive analysis of key players By Function, price, financial position, product portfolio, growth strategies, and regional presence in the Contact Center as a Service (CCaaS) Market make the report investor’s guide.
Contact Center as a Service (CCaaS) Market Scope: Inquire before buying



Global Contact Center as a Service (CCaaS) Market


Report Coverage
Details


Base Year:
2023
Forecast Period:
2024-2030


Historical Data:
2018 to 2023
Market Size in 2023:
US $ 3.62 Bn.


Forecast Period 2024 to 2030 CAGR:
17.8 %
Market Size in 2030:
US $ 11.42 Bn.


 Segments Covered:
by Function
Automatic Call Distribution
Call Recording
Computer Telephony Integration
Customer Collaboration
Dialer
Interactive Voice Response
Reporting & Analytics
Workforce Optimization
Others


by Enterprise Size
Large Enterprises
Small & Medium Enterprises (SMEs)


by End-user Industry
Banking, Financial Services and Insurance (BFSI)
IT and Telecom
Media and Entertainment
Retail
Logistics and Transport
Healthcare
Other End-user Industries


by Service
Professional
Managed



Contact Center as a Service (CCaaS) Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, Turkey, Russia and Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, ASEAN and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina, Columbia and Rest of South America)
Contact Centre as a Service (CCaaS) Market, Key Players are
1. Cisco Systems Inc.
2. Alcatel Lucent Enterprise
3. Avaya, Inc.
4. Enghouse Interactive, Inc.
5. Five9, Inc.
6. Genesys
7. Microsoft Corporation
8. NICE inContact
9. SAP SE
10. Unify Inc.
11. Anywhere365 Enterprise Dialogue Management
12. Computer Talk Technology Inc.
13. 8x8, Inc.
14. Content Guru Limited
15. Enghouse Interactive Inc

Frequently Asked Questions:

1. What is the forecast period considered for the Contact Center as a Service (CCaaS) Market report?
Ans. The forecast period for the Contact Center as a Service (CCaaS) Market is 2024-2030.

2. Which key factors are hindering the growth of the Contact Center as a Service (CCaaS) Market?
Ans. The High Cost of manufacturing expected to hinder the market.

3. What is the compound annual growth rate (CAGR) of the Contact Center as a Service (CCaaS) Market for the forecast period?
Ans. The CAGR of Contact Center as a Service (CCaaS) Market is 17.8 %.

4. What are the key factors driving the growth of the Contact Center as a Service (CCaaS) Market?
Ans. Rise in awareness among Consumers driving the market.

5. Which are the worldwide major key players covered for the Contact Center as a Service (CCaaS) Market report?
Ans Cisco Systems Inc., Alcatel Lucent Enterprise, Avaya, Inc., Enghouse Interactive, Inc., Five9, Inc., Genesys, Microsoft Corporation, NICE inContact, SAP SE, Unify Inc., Anywhere365 Enterprise Dialogue Management, Computer Talk Technology Inc., 8x8, Inc., Content Guru Limited, Enghouse Interactive.