Contact Center As A Service (CCaaS)
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What Will the Contact Center As A Service (CCaaS) Industry Market Size Be by 2025?
The market size for Contact Center as a Service (CCaaS) has quickly increased over the recent years. Its worth is set to rise from $6.7 billion in 2024 to $7.96 billion in 2025, reflecting a Compound Annual Growth Rate (CAGR) of 18.7%. This growth during the historical phase is due to the early adaptation of the cloud, the pace of adoption within industries, evolution of regulatory compliance, integration with traditional systems, market unification and the provision for remote work.
What’s the Long-Term Growth Forecast for the Contact Center As A Service (CCaaS) Market Size Through 2029?
The market size for Contact Center as a Service (CCaaS) is anticipated to undergo accelerated expansion within the upcoming years. By 2029, it is projected to surge to $16.06 billion with a Compound Annual Growth Rate (CAGR) of 19.2%. This anticipated growth during the forecast period can be linked to factors such as the prevalence of subscription-based models, shifting consumer expectations, the increasing demand for customization and personalization, the surge in remote work, and integration with systems. Prevailing trends expected during the forecast period encompass AI-driven customer interaction, the adoption of cloud technology, the omnichannel experience, analytics and insights, as well as the facilitation of a remote workforce.
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What Are the Key Growth Drivers Fueling the Contact Center As A Service (CCaaS) Market Expansion?
The surge in the number of internet users globally is predicted to fuel the expansion of the contact center as a service (CCaaS) market. Internet users are active participants in online environments or on the internet itself. The internet, a broad collection of computer networks, enables access to data resources across an array of private, public, commercial, academic, and governmental networks. Contact center as a service (CCaaS) aids businesses and consumers in smoothly obtaining and dispensing information online. For example, as per the International Telecommunication Union, a UN agency based in Switzerland dedicated to information and communication technologies, as of September 2023, 67% of the global populace or 5.4 billion individuals were using the internet, a slight increase from 5.3 billion or 66% of the global population in 2022. Thus, the burgeoning number of internet users globally will precipitate the expansion of the contact center as a service (CCaaS) market.
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What Are the Key Trends Driving Contact Center As A Service (CCaaS) Market Growth?
Leading enterprises in the contact center as a service (CCaaS) market are concentrating on producing superior solutions, like cloud-based standalone platforms, to improve client relations and streamline operations. These platforms are integrated, cloud-hosted solutions allowing companies to operate customer interactions across several channels without the need for extra software or infrastructure. For example, in June 2024, Microsoft Corporation, a technology firm based in the US, introduced a standalone CCaaS solution, which enables businesses to operate customer interactions across multiple channels such as voice, email, chat, and social media, with no additional software or infrastructure necessary. This solution provides adaptability and potential for growth, allowing companies to swiftly implement and modify their contact center procedures according to need. Equipped with omnichannel support, real-time analytics, and AI-powered tools like chatbots, these solutions enhance customer service and make operations more efficient. Moreover, standalone CCaaS can be syncronised with third-party systems like CRM, making it a comprehensive solution for managing customer communications.
How Is the Contact Center As A Service (CCaaS) Market Segmented?
The contact center as a service (CCaaS) market covered in this report is segmented –
1) By Function: Automatic Call Distribution, Call Recording, Computer Telephony Integration, Customer Collaboration, Dialer, Interactive Voice Response, Reporting And Analytics, Workforce Optimization, Other Functions
2) By Enterprise Size: Large Enterprises, Small And Medium Enterprises (SMEs)
3) By Industry: BFSI, IT And Telecommunications, Government, Healthcare, Consumer Goods And Retail, Travel And Hospitality, Media And Entertainment, Other Industries
Subsegments:
1) By Automatic Call Distribution (ACD): Skill-Based Routing, Time-Based Routing, IVR-Based Routing
2) By Call Recording: Cloud-Based Call Recording, On-Premises Call Recording, Voice And Screen Recording
3) By Computer Telephony Integration (CTI): Integrated Voice Response (IVR), Call Center Software Integration, CRM Integration
4) By Customer Collaboration: Omnichannel Support (Voice, Email, Chat, Social Media), Co-Browsing, Video Collaboration, Chatbots And Virtual Assistants
5) By Dialer: Predictive Dialer, Preview Dialer, Power Dialer, Progressive Dialer
6) By Interactive Voice Response (IVR): Cloud-based IVR, Speech Recognition IVR, DTMF-based IVR, Visual IVR
7) By Reporting And Analytics: Real-Time Analytics, Historical Analytics, Performance Metrics (Kpis), Sentiment Analysis
8) By Workforce Optimization: Workforce Management, Workforce Scheduling, Quality Monitoring, Training and Coaching Tools
9) By Other Functions: Multi-channel Routing, Voice Biometrics, Speech Analytics
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Which Companies Are Leading the Charge in Contact Center As A Service (CCaaS) Market Innovation?
Major companies operating in the contact center as a service (CCaaS) market include Amazon.com Inc., Microsoft Corporation, AT&T Inc., accenture* LLP, IBM Corporation, Cisco Systems Inc, Content Guru Limited, Capgemini, CenturyLink Inc., NICE Systems Ltd, Genesys, Alcatel Lucent Enterprise, Vonage Holdings Corp., Mitel Networks Corporation, Unify Inc, 8×8 Inc, NICE inContact, Zendesk Inc., Oracle Corporation, Talkdesk Inc, Anywhere365 Enterprise Dialogue Management, Liveops Inc., Evolve IP LLC, Enghouse Interactive Inc, 3CLogic, Computer Talk Technology Inc, Luware AG, Serenova, Intrado Corporation, Elevio, Vocalcom, Sharpen
Which Regions Are Leading the Global Contact Center As A Service (CCaaS) Market in Revenue?
North America was the largest region in the contact center as a service (CCaaS) market in 2024. The regions covered in the contact center as a service (ccaas) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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