Press release
Global Contact Centre As A Service Market Size To Grow At A CAGR Of 16.60% In The Forecast Period Of 2023-2028
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter's Five Forces Models.
Contact Centre as a Service Market Size, Share, Trends, Industry, Key Player, Report and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
Historical Market Size (2022): USD 4.9 billion
Forecast CAGR (2023-2028): 16.60%
Forecast Market Size (2028): USD 12.32 billion
Contact centre as a service improves customer satisfaction and overall customer experiences, leading to the improvement of customer relationships. It enables faster and informed decision making in an organisation, improves scalability, reduces costs, and automates various processes.
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Meanwhile, the heightening adoption of contact centre as a service across various sectors including BFSI, IT and telecom, healthcare, and government, among others, is bolstering the contact centre as a service market growth. Contact centre as a service improves the patient outcomes in healthcare sector by saving time during urgent cases, improves focus on individual patients, bridges the gap between front and back office, and improves the smoothness of payment and collection operations in hospitals and ambulatory surgical centres.
This service is witnessing a heightened demand from the BFSI sector leading to a greater growth of the global contact centre as a service market. It disseminates information to the clients on their preferred channels, personalises customer experience, and improves the analysis of feedback. Over the forecast period, the anticipated increase in competition between enterprises in various end use sectors is likely to escalate the adoption of contact centre as a service to bolster customer loyalty and brand awareness.
Contact Centre as a Service Industry Definition and Major Segments
Contact centre as a service (CCaaS) is defined as a software as a service application which enables seamless interactions between the organisation and its customers by means of different channels. Contact centre as a service comes with various advantages which improve the scalability of a business. Highly flexible and adaptable, contact centre as a service helps manage customer interactions for any volume of customers.
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Based on component, the market is segmented into:
Solution
Automatic Call Distribution
Call Recording
Computer Telephony Integration
Customer Collaboration
Dialler
Interactive Voice Response
Reporting and Analytics
Others
Services
Integration and Deployment
Support and Maintenance
Training and Consulting
Managed Services
By organisation size, the market is bifurcated into:
Large Enterprise
Small and Middle Enterprise
On the basis of end use, the market is divided into:
BFSI
IT and Telecom
Healthcare
Media and Entertainment
Government
Travel and Hospitality
Others
Based on region, the market is categorised into:
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Contact Centre as a Service Market Trends
The key trends in the global contact centre as a service market include the technological advancements across enterprises and increasing emphasis on digitally advanced business models. Rapid penetration of advanced technologies such as artificial intelligence (AI), machine learning (ML), and internet of things (IoT), is further enhancing the efficiency of contact centre as a service platforms by providing 24X7 service with instant response facility.
Heightened demand for contact centre as a service across government agencies related to military, national internal security, federal investigation, and various government institutions, is another crucial trend in the contact centre as a service market. Strategic partnerships, research and innovations, and growing collaborations by the major technological corporations are expected to foster progressive product innovations. Moreover, development of contact centre as a service software with added features are expected to emerge in the coming years as customer expectations increase.
In geographical terms, North America holds a decent share in the contact centre as a service market. This can be attributed to the advanced IT infrastructure, coupled with a strong foothold of major technology providers across the United States and Canada.
Key Market Players
The major players in the global contact centre as a service market report are:
ALE International SAS
Microsoft Corporation
Cisco Systems, Inc.
Genesys
SAP SE
NICE Ltd
Amazon Web Services (AWS)
Alvaria, Inc.
Five9, Inc.
Evolve IP, LLC.
TTEC Holdings, Inc.
Others
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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