The global contact center as a service (CCaaS) market was valued at $4,263.0 million in 2021, and is projected to reach $19,775.7 million by 2031, registering a CAGR of 16.8% from 2022 to 2031. The solutions segment was the highest revenue contributor to the market, with $4,031.9 million in 2021, and is estimated to reach $18,107.6 million by 2031, with a CAGR of 16.4%. The services segment is estimated to reach $1,668.1 million by 2031, at a significant CAGR of 21.9% during the forecast period.
A cloud-based customer experience solution called Contact Center as a Service (CCaaS) enables businesses to use the technology of client service providers. Organizations may purchase only the technologies they require using a CCaaS model, which eliminates the need for internal IT support. For many contact centers, CCaaS is the best solution since it allows for growth as operational requirements alter. The ability to selectively invest in the technology that is required results in cheap investment costs and enhanced capabilities to better serve consumers.
The market is experiencing growth owing to a couple of factors, including the rise in need for an enhanced and seamless end-to-end customer experience and a reduction in operational expenses as a result of the adoption of contact centre as a service (CCaaS). Even though it is expected that the potential of forgery, security threats connected to contact centres as a service (CCaaS) would restrict market growth.The industry is anticipated to witness lucrative growth opportunities owing to increased need for application programming interface (API) based contact centers.
The offering, organization size, and end-use vertical segments determine the overall contact center as a service (CCaaS) market. The offering sector of the global contact center as a service (CCaaS) market is further down into services and solutions. Solutions is sub-segmented into automated call distribution, call recording, computer telephony integration, customer collaboration, interactive voice response, reporting and analytics and others. The contact center as a service (CCaaS) in terms of services is bifurcated into three sub-segments: integration and implementation, support and maintenance, and training and consulting. The market is divided into large enterprises and small and medium enterprises based on the size of the organization (SMEs).).
On the basis end-use verticals as segment contact center as a service market (CCaaS) can be categorized into BFSI, IT & telecommunications, government, media & entertainment, healthcare, and others. The BFSI segment is estimated to reach $2,556.0 million by 2031, at a significant CAGR of 13.3% during the forecast period. The healthcare and government segments are expected to witness considerable CAGRs of 20.4% and 19.4%, respectively, during the forecast period.
Region-wise, the Contact Center as a Service (CCaaS) market trends are analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America was the highest revenue contributor, accounting for $2,378.8 million in 2021, and is estimated to reach $9,353.9 million by 2031, with a CAGR of 14.9%. Asia-Pacific is estimated to reach $5,517.4 million by 2031, at a significant CAGR of 19.5%. North. The key players operating in the market include Accenture LLP, Alphabet Inc. (Google Corporation), Amazon.com Inc. (AWS), AT&T Inc., Cisco Systems, IBM Corporation, Microsoft Corporation, Orcale Corporation and SAP SE.
A cloud-based customer experience solution called Contact Center as a Service (CCaaS) enables businesses to use the technology of client service providers. Organizations may purchase only the technologies they require using a CCaaS model, which eliminates the need for internal IT support. For many contact centers, CCaaS is the best solution since it allows for growth as operational requirements alter. The ability to selectively invest in the technology that is required results in cheap investment costs and enhanced capabilities to better serve consumers.
The market is experiencing growth owing to a couple of factors, including the rise in need for an enhanced and seamless end-to-end customer experience and a reduction in operational expenses as a result of the adoption of contact centre as a service (CCaaS). Even though it is expected that the potential of forgery, security threats connected to contact centres as a service (CCaaS) would restrict market growth.The industry is anticipated to witness lucrative growth opportunities owing to increased need for application programming interface (API) based contact centers.
The offering, organization size, and end-use vertical segments determine the overall contact center as a service (CCaaS) market. The offering sector of the global contact center as a service (CCaaS) market is further down into services and solutions. Solutions is sub-segmented into automated call distribution, call recording, computer telephony integration, customer collaboration, interactive voice response, reporting and analytics and others. The contact center as a service (CCaaS) in terms of services is bifurcated into three sub-segments: integration and implementation, support and maintenance, and training and consulting. The market is divided into large enterprises and small and medium enterprises based on the size of the organization (SMEs).).
On the basis end-use verticals as segment contact center as a service market (CCaaS) can be categorized into BFSI, IT & telecommunications, government, media & entertainment, healthcare, and others. The BFSI segment is estimated to reach $2,556.0 million by 2031, at a significant CAGR of 13.3% during the forecast period. The healthcare and government segments are expected to witness considerable CAGRs of 20.4% and 19.4%, respectively, during the forecast period.
Region-wise, the Contact Center as a Service (CCaaS) market trends are analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America was the highest revenue contributor, accounting for $2,378.8 million in 2021, and is estimated to reach $9,353.9 million by 2031, with a CAGR of 14.9%. Asia-Pacific is estimated to reach $5,517.4 million by 2031, at a significant CAGR of 19.5%. North. The key players operating in the market include Accenture LLP, Alphabet Inc. (Google Corporation), Amazon.com Inc. (AWS), AT&T Inc., Cisco Systems, IBM Corporation, Microsoft Corporation, Orcale Corporation and SAP SE.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the contact center as a service (ccaas) market analysis from 2021 to 2031 to identify the prevailing contact center as a service (ccaas) market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the contact center as a service (ccaas) market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global contact center as a service (ccaas) market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Offerings
- Solutions
- Solutions Type
- Automatic Call Distribution
- Call Recording
- Computer Telephony Integration
- Customer Collaboration
- Interactive Voice Response
- Reporting and Analytics
- Others
- Services
- Services Type
- Integration and Deployment
- Support and Maintenance
- Training and Consulting
By Organization Size
- Large Enterprise
- SME's
By End Use Verticals
- BFSI
- IT and Telecommunications
- Government
- Media and Entertainment
- Healthcare
- Others
By Region
- North America
- U.S.
- Canada
- Europe
- Germany
- Italy
- France
- Spain
- UK
- Russia
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- AT&T Inc.
- Cisco Systems
- Microsoft Corporation
- Accenture LLP
- Amazon.com Inc. (AWS)
- IBM Corporation
- Alphabet Inc. (Google Corporation)
- Unify Inc.
- Five9, Inc.
- Avaya, Inc.
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: CONTACT CENTER AS A SERVICE (CCAAS) MARKET, BY OFFERINGS
CHAPTER 5: CONTACT CENTER AS A SERVICE (CCAAS) MARKET, BY ORGANIZATION SIZE
CHAPTER 6: CONTACT CENTER AS A SERVICE (CCAAS) MARKET, BY END USE VERTICALS
CHAPTER 7: CONTACT CENTER AS A SERVICE (CCAAS) MARKET, BY REGION
CHAPTER 8: COMPANY LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, titled, “Contact Center as a Service (CCaaS) Market," the Contact Center as a Service Market Size was $4.3 billion in 2021, and is estimated to reach $19.8 billion by 2031, growing at a CAGR of 16.8% from 2022 to 2031.A corporation can subscribe to a cloud-based contact center platform or software on a yearly or monthly basis under the term contact center as a service (CCaaS). CCaaS industry serve as the focal point for all high-volume audience engagements in addition to client contacts. However, there are many contact center teams that serve a range of audiences, including employees, students at higher education institutions, and many other groups, despite the fact that most people only connect contact centers with customer support teams.
Surge in demand for a superior, smoother seamless customer service from inception to delivery and increased demand for CCaaS Market is the fast use of cloud-based contact centers. Including growing integration of application programming interface (API) enabling the centralization of data for quick access have been major drivers of the market’s growth. Omni channel communication and the use of digital technology like artificial intelligence allow for the consolidation of all client interactions, giving businesses a competitive advantage. CCaaS improves work satisfaction and productivity by automating tedious and repetitive tasks and giving agents access to information, tools, and resources.
According to Contact Center as a Service Market research, the automatic call distribution segment was the highest revenue contributor to the market, with $854.7 million in 2021, and is estimated to reach $3,321.7 million by 2031, with a CAGR of 14.7%. The others segment is estimated to reach $2,653.2 million by 2031, at a significant CAGR of 15.6% during the forecast period.
The COVID-19 pandemic is anticipated to have a favorable effect on the contact center as a service (CCaaS) business worldwide. Contact center as a service CCaaS Market remote working's accessibility and flexibility. The demand for contact center as a service (CCaaS) has increased owing to increased feedback management, and suppliers cost associated with the setup of offline contact centers. Moreover, the growing decency upon Internet and digitalization globally started to deploy Contact Center as a Service (CCaaS) solution, and thus is expected to drive the growth of the Contact Center as a Service Market analysis post pandemic.
Region-wise, North America holds a significant share in the global Contact Center as a Service (CCaaS) market, owing to the presence of prime players in this region. In North America authorities have expressed a strong enthusiasm in implementing contact center cloud solutions. Major corporations that are committed to delivering superior customer service are widespread in the area, which boosts the growth of the market. The collaboration to provide cloud-based contact center solutions to the Canadian market was announced on April 21, 2022 by Five9, Inc., a global provider of intelligent cloud contact centers, and Deloitte Canada, an independent company operating under the Deloitte name. Collaboration is anticipated to significantly improve customer experience as Five9 continues to expand its worldwide footprint and link the success of Deloitte Canada and Five9 with Canadian businesses to fulfil the rise in need for digital age networking and CCaaS.
Key Findings of the Study
- The automatic call distribution segment was the highest Contact Center as a Service Market Share contributor, with $854.7 million in 2021, and is estimated to reach $3,321.7 million by 2031, with a CAGR of 14.7%.
- The integration and deployment segment was the highest revenue contributor to the market, with $100.4 million in 2021, and is estimated to reach $798.5 million by 2031, with a CAGR of 23.1%
- The large enterprise segment was the highest revenue contributor to the market, with $2,880.8 million in 2021, and is expected to continue its growth during Contact Center as a Service Market Forecast period.
- North America was the highest revenue contributor, accounting for $2,378.8 million in 2021, and is estimated to reach $9,353.9 million by 2031, with a CAGR of 14.9%.
- Asia-Pacific is estimated to reach $5,517.4 million by 2031, at a significant CAGR of 19.5%.
- The key players profiled in the Contact Center as a Service Industry report include Accenture LLP, Alphabet Inc. (Google Corporation), Amazon.com Inc. (AWS), AT&T Inc., Cisco Systems, IBM Corporation, Microsoft Corporation, Orcale Corporation and SAP SE. Market players have adopted various strategies, such as product launch, collaboration & partnership, joint venture, and acquisition, to expand their foothold in the Contact Center as a Service (CCaaS) market.
Companies Mentioned
- At&T Inc.
- Cisco Systems
- Microsoft Corporation
- Accenture Llp
- Amazon.Com Inc. (Aws)
- Ibm Corporation
- Alphabet Inc. (Google Corporation)
- Unify Inc.
- Five9, Inc.
- Avaya, Inc.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 218 |
| Published | August 2022 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 4263 million |
| Forecasted Market Value ( USD | $ 19775.7 million |
| Compound Annual Growth Rate | 16.6% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
