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Contact Center as a Service (CCaaS) Market Trends 2024-2033
Contact Center as a Service (CCaaS) Market
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According to The Business Research Company's, The contact center as a service (CCaaS) market size has grown rapidly in recent years. It will grow from $5.65 billion in 2023 to $6.7 billion in 2024 at a compound annual growth rate (CAGR) of 18.7%. The growth in the historic period can be attributed to early cloud adoption, industry adoption rates, regulatory compliance evolution, integration with legacy systems, market consolidation, remote work enablement.
The contact center as a service (CCaaS) market size is expected to see rapid growth in the next few years. It will grow to $13.46 billion in 2028 at a compound annual growth rate (CAGR) of 19.0%. The growth in the forecast period can be attributed to subscription-based models, evolving customer expectations, customization and personalization, rise in remote work, integration with corm systems. Major trends in the forecast period include AI-powered customer engagement, cloud adoption, omnichannel experience, analytics and insights, remote workforce enablement.
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Market Drivers and Trends:
The increasing number of internet users around the world is expected to propel the growth of the contact center as a service (CCaaS) market going forward. Internet users are those who actively participate in online communities or on the Internet. The Internet is a vast network of computer networks that provides access to information resources over a variety of private, public, commercial, academic, and governmental networks. Contact center as a service (CCaaS) helps companies and consumers to obtain and give information over the internet seamlessly. For instance, according to a report by the International Telecommunication Union (ITU), a United Nations specialized agency for matters related to information and communication technologies, during the COVID-19 pandemic, internet users climbed from 4.1 billion in 2019 to 4.9 billion in 2021. Therefore, the increasing number of internet users around the world is driving the growth of the contact center as a service (CCaaS) market.
AI voice of the customer solution is a key trend gaining popularity in the contact center as a service (CCaaS). Voice of the Customer (VoC) powered by artificial intelligence (AI) uses AI to effectively deliver customer and citizen insights to the enterprise via all channels. It offers a comprehensive yet detailed view of public opinion and emotion and enable key companies to gain a competitive edge in the market. For instance, in July 2021, the most recent AI voice of the customer solution from Israel-based contact center software company, NICE Systems, which blends artificial intelligence with NICE satmetrix voice of the customer, was released. With the help of this technology, costly follow-up calls and client turnover are reduced to a minimum.
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Major Key Players of the Market:
Amazon.com Inc., Alphabet Inc., Microsoft Corporation, AT&T Inc., IBM Corporation, Cisco Systems Inc, Content Guru Limited, SAP SE, Capgemini, CenturyLink Inc., NICE Systems Ltd, Genesys, Alcatel Lucent Enterprise, Vonage Holdings Corp., Mitel Networks Corporation, Unify Inc, 8x8 Inc, NICE inContact, Zendesk Inc., Orcale 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
Contact Center As A Service (CCaaS) Market 2024 Key Insights:
• The contact center as a service (CCaaS) market size is expected to see rapid growth in the next few years. It will grow to $13.46 billion in 2028 at a compound annual growth rate (CAGR) of 19.0%.
• Global Internet Users Propel Expansion Of Contact Center As A Service (CCaaS) Market
• AI-Driven Voice Of The Customer Solutions Reshape The Future Of Ccaas
• North America was the largest region in the contact center as a service (CCaaS) market in 2023
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