Pune, India, March 01, 2022 (GLOBE NEWSWIRE) -- The global contact center as a service (CCaaS) market size was USD 3.53 billion in 2020. The market is projected to grow from USD 4.07 billion in 2021 to USD 11.76 billion in 2028 at a CAGR of 16.4% during the 2021 to 2028 period. This information is provided by Fortune Business Insights, in its report, titled, “CCaaS Market, 2021-2028.”
According to our analysts, the global market has depicted an augmentation in demand, owing to an increase in cloud-based software and service CCaaS market embracement for the remote working populace across the world.
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COVID-19 Impact:
Minor Drop in Digital Technology Expenditure in End-User Industries amid COVID-19 to Hinder Progress
During the COVID-19 pandemic, all countries across the globe have reflected a trivial deterioration in their GDP owing to the termination of businesses. Nevertheless, in the healthcare sector, customer service and contact centers have presented an incomparable growth in the general volume of calls from consumers throughout the world.
Segments:
Rising number of SMEs in the IT & Telecommunication Sector to Drive Market
On the basis of function, the market is segregated into multichannel, interactive voice response (IVR), computer telephony integration (CTI), automatic call distribution, reporting and analytics, customer collaboration, workforce optimization, and others. The interactive voice response (IVR) segment is anticipated to dominate during the forecast period.
The global contact center as a service (CCaaS) market is divided into SMEs and large enterprises in terms of enterprise size.
In terms of industry, the market is classified into BFSI, IT and telecommunications, government, healthcare, consumer goods and retail, travel and hospitality, media and entertainment, and others.
The market has been branched across five major regions such as North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America.
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Report Coverage:
We offer reports that are piloted with a wide-ranging examination approach that principally highlights offering accurate study material. Our scholars have applied a data-gathering method, which further assists our analysts in supplying reliant estimations and reviewing the general market dynamics accurately. Further, our analysts have gained admission to numerous international as well as locally sponsored registers for offering up-to-date information so that the stakeholders and business professionals invest only in vital zones.
Drivers and Restraints:
Rising Implementation of Application Programming Interface (API) grounded Contact Center to Assist Market Growth
An elevation in the acceptance of AI-driven chatbot and cloud-based software as services have boosted the contact center as a service (CCaaS) market growth. The increasing unveiling of API-based contact centers solutions by prime companies is navigating the demand for market growth during the forecast period. The API-based contact center service provides online customer service by handling phone calls, SMS, emails, messages, live chat, texts, as well as support tickets for corporations.
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Regional Insights:
North America is Expected to Dominate the Global Market
North America held the largest contact center as a service (CCaaS) market share during the forecast period. The rising investment in cloud-based software and numerous dominating players situated in the U.S. have powered the market growth.
Asia Pacific is estimated to grow with the biggest CAGR during the forecast period. China and Japan are probable to dominate Asia Pacific and are among the quickest-developing region in the market.
Europe is projected to hold the second-largest position in the market owing to the augmentation in the embracement of cloud technology coupled with government backing and capitalization in the manufacturing and healthcare sector for shortening the business courses.
Competitive Landscape:
Significance of Presenting Novel Payment Platforms to Steer Market Growth
The essential companies present in the market are financing the development of exclusive mobile device payment solutions. Several network operators and mobile payment suppliers are collaborating to make an impressive appearance in the market. Crucial players throughout the industries are utilizing these payment solutions to offer value-added services and to boost the customer experience.
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Industry Developments:
- April 2021: 8x8, Inc. declared a distribution deal with Westcon Group, Inc. This collaboration provides upgraded cloud communication and contact center solution while also offering UCaaS and CCaaS public cloud services to Westcon's partners on a wholesale foundation.
Companies Mentioned in the CCaaS Market Report:
- Anywhere365 Enterprise Dialogue Management (Rotterdam, Netherlands)
- Computer Talk Technology Inc. (Toronto, Canada)
- 8x8, Inc. (California, U.S.)
- Content Guru Limited (Bracknell, U.K.)
- Enghouse Interactive (Phoenix, U.S.)
- Genesys Telecommunication Laboratories, Inc. (California, U.S.)
- NICE Systems Ltd. (Ra’anana, Israel)
- Talkdesk Inc. (San Francisco, U.S.)
- Luware AG. (Zurich, Switzerland)
- Evolve IP, LLC (Pennsylvania, U.S.)
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Table of Content:
- Introduction
- Definition, By Segment
- Research Methodology/Approach
- Data Sources
- Key Takeaways
- Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities and Trends
- Impact of COVID-19
- Short-term Impact
- Long-term Impact
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Global CCaaS Market Share Analysis and Matrix, 2020
- Key Market Insights and Strategic Recommendations
- Profiles of Key Players (Would be provided for 10 players only)
- Overview
- Key Management
- Headquarters etc.
- Offerings/Business Segments
- Key Details (Key details are subjected to data availability in Public Cloud domain and/or on paid databases)
- Employee Size
- Key Financials
- Past and Current Revenue
- Geographical Share
- Business Segment Share
- Recent Developments
- Overview
- Annexure / Appendix
- Global Contact Center as a Service (CCaaS) Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2017-2028
- By Function (USD)
- Interactive Voice Response (IVR)
- Multichannel
- Automatic Call Distribution
- Computer Telephony Integration (CTI)
- Reporting and Analytics
- Workforce Optimization
- Customer Collaboration
- Others (Recording, Dialer, etc.)
- Enterprise Size (USD)
- SMEs
- Large Enterprises
- By Industry (USD)
- BFSI
- IT and Telecommunications
- Government
- Healthcare
- Consumer Goods and Retail
- Travel and Hospitality
- Media and Entertainment
- Others
- By Region (USD)
- North America
- Latin America
- Europe
- Middle East & Africa
- Asia Pacific
- By Function (USD)
- Global Contact Center as a Service (CCaaS) Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2017-2028
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