Pune, India, Dec. 07, 2023 (GLOBE NEWSWIRE) -- The global Contact Center as a Service (CCaaS) Market size was valued at USD 4.42 billion in 2022. The market is projected to grow from USD 5.15 billion in 2023 to USD 16.43 billion by 2030, exhibiting a CAGR of 18% during the forecast period. Fortune Business Insights presents this information in their report titled "Global Contact Center as a Service (CCaaS) Market Forecast, 2023-2030."
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Notable Industry Development:
March 2023:- Verint partnered with Google Cloud to improve contact center performance by combining Google Cloud’s Contact Center AI platform with the Verint Customer Engagement Platform to offer high-quality customer experience.
Key Takeaways
- Contact Center as a Service (CCaaS) Market size in North America was USD 4.42 billion in 2022
- Rising Presence of SMEs in IT and Telecommunication Sector to Boost Market Growth
- Adoption of Innovative Technologies to Improve Customer Interactions will Boost CCaaS Usage in the IT and telecommunications Sector
- The IT & telecommunications segment is anticipated to hold maximum market share
Discover the Leading Players Featured in the Report:
“Companies leading the global Contact Center as a Service (CCaaS) Market are Anywhere365 Enterprise Dialogue Management (Netherlands), Computer Talk Technology Inc. (Canada), 8x8, Inc. (U.S.), Content Guru Limited (U.K.), Enghouse Interactive (U.S.), Genesys Telecommunication Laboratories, Inc. (U.S.), NICE Systems Ltd. (Israel), Talkdesk Inc. (U.S.), Luware AG. (Switzerland), Evolve IP, LLC (U.S.)”
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 18% |
| 2030 Value Projection | USD 16.43 billion |
| Base Year | 2022 |
| Contact Center as a Service (CCaaS) Market Size in 2022 | USD 4.42 billion |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 160 |
| Segments Covered | Function, Enterprise Type, End-Use and Geography |
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Drivers and Restraints:
API-based Contact Centers to be Widely Adopted by Companies, Aiding Market Growth
Cloud-based software services and AI-enabled chatbots are being extensively used by reputed companies to enhance their business operations. They are also introducing Application Programming Interface (API)-based contact center solutions as they provide virtual customer care by managing texts, messages, and support requests of customers. This will fuel the market expansion.
However, growing incidence of frauds and data breaches might hinder the market progress.
Segmentation
By Function
- Interactive Voice Response (IVR)
- Multichannel
- Automatic Call Distribution
- Computer Telephony Integration (CTI)
- Reporting and Analytics
- Workforce Optimization
- Customer Collaboration
- Others (Recording, Dialer)
By Type
- SMEs
- Large Enterprises
By Industry
- BFSI
- IT and Telecommunications
- Government
- Healthcare
- Consumer Goods and Retail
- Travel and Hospitality
- Media and Entertainment
By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
Regional Insights:
North America to Dominate Due to Rising Investments in Cloud-based Software
North America is expected to capture the largest market share as the region is increasingly investing in cloud-based software and has a vast presence of reputed Contact Center as a Service (CCaaS) providers.
Asia Pacific is set to record the highest CAGR during the forecast timeframe due to the growing investments in business process automation by leading companies.
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Competitive Landscape:
Launch of AI-Powered Tools by Top Market Players to Boost Market Growth
Contact Center as a Service (CCaaS) solution providers, such as NICE, Cisco Systems, Evolve IP, LLC, Luware AG., 8x8, Inc., Talkdesk Inc., and others, are launching AI-powered cloud-based solutions. They are expanding their operations across the world through mergers, acquisitions, and partnerships.
FAQs
How big is the Contact Center as a Service (CCaaS) Market?
The Contact Center as a Service (CCaaS) Market size was USD 4.42 billion in 2022. It is expected to reach USD 16.43 billion by 2030.
How fast is the Contact Center as a Service (CCaaS) Market growing?
The Contact Center as a Service (CCaaS) Market will exhibit a CAGR of 18% during the forecast period, 2023-2030.
Related Reports:
Contact Center Software Market Size, Share, Revenue Forecast and Opportunities
Customer Relationship Management (CRM) Market Overview, Industry Share and Forecast
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