Contact Center as a Service will experience high growth 14.68% during the forecast 2019-2025

The study focuses on Contact Center as a Service (CCaaS). A Cloud Contact Center or Contact Center as a Service is a comprehensive suite of tools, applications and cloud-hosted services for contact centers in large, small or medium scale organizations that require multiple communications channels, call routing, agent management and analytics.

The market for Contact Center as a Service in is projected to grow at a CAGR of 14.68% during the forecast period between 2019 and 2025. The growth in the market size is expected to be driven by the increasing deployment of cloud solutions by contact centers of all sizes. The growth is also associated with the cost-effective contact center solutions such as improved customer experience, integrating multiple communications channels in the existing systems, advanced call-routing, automated services, workforce management tools, and access to high-level dashboards and detailed analytics among others.

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In 2019, Offshore outsourcing accounted for the largest market in terms of value in 2019 followed by onshore outsourcing. By Application, the market for contact center as a service was dominated by Telecom & IT sector accounting for 33% of the total Vietnam CCaaS market in 2019. Telecom & IT, BFSI, and Healthcare & Life Sciences are expected to account for major markets through 2025 with a share of 30%, 25%, and 23%, respectively.
Some of the key driving factors are Economics of CCaaS over traditional contact center, great customer service and better product quality at affordable pricing. Some of the key opportunities in this market are Completely unified contact centre experience and data analytics.

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The market for contact center as a service (CCaaS) is intensely competitive and scattered by several players in the space across the globe. North America accounted for the major market. The market is very attractive at present and is served by several companies - well established CCaaS providers, several start-ups, and major contact center infrastructure providers entering into CCaaS through strategic acquisitions. Some of the vendors offering CCaaS solutions include, Five9, NICE, Aspect Software, TTEC, Cisco (BroadSoft), NewVoiceMedia (Acquired by Vonage), Avaya, Capgemini(Odigo), Talkdesk, 8x8 Inc., Serenova, Evolve IP, CenturyLink, Liveops Inc., Orange Business Services, Content Guru, Puzzel, BT, Vocalcom, RingCentral, Noble Systems, Nuance, Mitel, Telus, Bell Canada, ComputerTalk, IFS, SAP, Verizon, Bright Pattern Inc., and West.

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