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The global Contact Center as a Service (CCaaS) market size was valued at USD 4.42 billion in 2022 and 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.
The market growth slowed significantly during the COVID-19 pandemic, owing to lack of demand for these solutions across all areas. However, the global market grew at a steady pace in 2021 due to a rise in the adoption of cloud-based services and software as well as CCaaS for the global remote working population.
This market study covers Contact Center as a Service (CCaaS) products and services offered by leading companies, such as Content Guru, Enghouse Interactive., 8x8, Inc., Computer Talk Technology Inc., Anywhere 365, and Luware AG., Genesys, and others operating across the world. These companies provide cloud-based contact center solutions, Interactive Voice Response (IVR) systems, voicebots, chatbots, contact center management services, and various additional services.
The market is likely to grow as major organizations are developing AI-powered contact center platform solutions to enhance customer experience. For instance,
In June 2021, IQVIA launched Medical Information (MI) contact center service driven by Artificial Intelligence (AI). The MI contact center service responds to inquiries from patients, customers, and Healthcare Professionals (HCPs) across the world through competent agents.
Spending on Digital Technologies Increased across End-user Industries amid COVID-19
Due to the shutdown of companies’ operations during the COVID-19 pandemic, the global economy saw a notable slump in GDP growth. However, customer service centers and contact centers saw significant growth in the overall volume of calls from customers across the globe in the healthcare industry.
A vast majority of the market's biggest Contact Center as a Service providers offer AI-powered chat solutions and cloud-based contact centers. During the COVID-19 outbreak, banks & financial service providers and government institutions increased their demand for contact center services. To retain their clients and workforce working in remote areas, several corporate firms have embraced and implemented CCaaS solutions that are equipped with advanced technologies. Also, numerous significant market players are increasing their spending on developing innovative technological tools.
In August 2021, Talkdesk, a cloud-based contact center software company, raised USD 230 million in a Series-D investment round from Whale Rock Capital Management. Talkdesk used new technologies, such as artificial intelligence and machine learning, to improve the customer service of large enterprises. Trivago N.V., IBM Corporation, Fujitsu Ltd, Acxiom, LLC, and others are among the company's 1,800+ clients.
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Growing Trend of Work from Home in Various Industries for Higher Client Retention
There is rising adoption of contact center as a service solution by companies across various industries to manage routine inquiries with automated responses. This helps to improve the performance of the employees who opted for work from home. As the Contact Center as a Service solution providers are implementing advanced analytics systems to provide dashboards with facts and figures that can affect their operations. The CCaaS trend of showing statistical dashboards on user interfaces to obtain real time updates on customer experiences is a significant market development. For instance,
Increasing Adoption of API-based Contact Centers to Aid Market Growth
The increased usage of cloud-based software services and AI-powered chatbots has fueled the expansion of the Contact Center as a Service industry. The growing number of prominent organizations launching Application Programming Interface (API)-based contact center solutions is expected to drive the market expansion throughout the forecast period.
An API-based contact center solution offers online customer care by managing messages, texts, live chats, emails, phone calls, SMS, and support requests for businesses. Several major firms are developing API-based customer experience contact centers, boosting the market growth.
Rising Threat of Frauds, Security Concerns, and Data Breaches May Hinder Market Growth
The growing use of digital technologies, such as artificial intelligence and cloud computing has raised the danger of data breaches and cyberattacks in contact centers. There is a greater need for compliance, security, and data protection with growing internet connectivity and usage. For instance, according to statistics offered by NICE, a software solutions provider, contact centers across the world handle more than 100 billion calls every month, with one out of every 1,700 calls being identified as a fraud. The contact center platform manages a massive volume of client data that is highly vulnerable to data security threats.
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Rising Demand for Effective Interactions with Healthcare Professionals During COVID-19 Boosted Adoption of IVR Systems
Based on function, the market is segmented into multichannel, Interactive Voice Response (IVR), Computer Telephony Integration (CTI), automatic call distribution, reporting and analytics, customer collaboration, workforce optimization, and others (recording, dialer).
The Interactive Voice Response (IVR) segment is likely to hold a dominant market share. IVR is an automated computer system that connects with consumers and company staff. Several organizations used the IVR technology to get information about COVID-19 symptoms and the patient's health during the COVID-19 pandemic.
Workforce optimization, customer collaboration, Computer Telephony Integration (CTI), reporting & analytics, multichannel, automatic call distribution, and others (recording, dialer) are fueling the demand in digital services, thereby surging the adoption of CCaaS software. This factor is expected to boost the Contact Center as a Service market growth.
Growing Number of SMEs in IT and Telecommunication Sector to Drive Market Growth
Based on enterprise type, the market is bifurcated into SMEs and large enterprises.
The SMEs segment is expected to dominate the market share due to the rising number of start-ups and increased investment in cloud-based software solutions among the leading companies.
Increasing Investment in IT & Telecommunications Sector with Surge in Digitalization Globally to Aid Market Growth
Based on industry, the market is categorized into BFSI, IT & telecommunications, government, healthcare, consumer goods & retail, travel & hospitality, media & entertainment, and others.
The IT & telecommunications segment is expected to capture a large market share. A wide range of CCaaS solutions are used in this industry due to the growing emphasis on customer demands and taking a digital approach to customer interactions. This sector's expansion has surged the demand for CCaaS.
The government, healthcare, travel, hospitality, consumer goods, retail, BFSI, and media & entertainment industries are expected to showcase steady growth in this market. This is owing to the increased demand for monetizing wireless networks via new services, products, and business models.
North America Contact Center as a Service (CCaaS) Market Size, 2022 (USD Billion)
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The global market has been analyzed across five major regions, North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America.
North America is anticipated to lead the global Contact Center as a Service (CCaaS) market share. Increased investments in cloud-based software and numerous reputed firms in the U.S. are predicted to boost the market expansion during the analysis period. The presence of several reputed CCaaS providers in the U.S. including Talkdesk, Inc., Genesys Inc., 8x8, Inc., and many others are driving the market growth in the region.
Asia Pacific is anticipated to record the fastest CAGR during the forecast period. China and Japan are projected to dominate this region and are among the market's fastest-growing countries. One of the major factors contributing to the regional market’s growth is the increased investment by renowned organizations in automating business operations.
Europe is predicted to capture the second-largest market share due to a spike in the use of cloud technologies, government assistance, and high investments in the industrial and healthcare sectors to streamline corporate operations.
Key players are investing in and launching Contact Center as a Service solution in emerging nations across Latin America and the Middle East & Africa such as GCC, the Philippines, Columbia, Mexico, Chile, Brazil, South Africa, and others. For instance,
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Rising Introduction of AI-powered Tools by Key Market Players to Aid Market Growth
Companies offering Contact Center as a Service solutions including NICE, Cisco Systems, Evolve IP, LLC, Luware AG., 8x8, Inc., Talkdesk Inc., and others are focusing on releasing AI-powered unique cloud-based solutions. These companies are increasing their investments in cloud platforms to meet the robust demand for enhanced tools from clients. To expand their operations throughout the world, the market participants use various methods, such as acquisitions, partnerships, mergers, and collaborations. For instance,
An Infographic Representation of Contact Center as a Service (CCaaS) Market
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The research report highlights leading regions across the world to help the user understand the market better. Furthermore, the report provides insights into the latest industry trends and analyzes technologies that are being rapidly deployed across the world. It further highlights some of the growth-stimulating factors and restraints, helping the reader gain in-depth knowledge about the market.
Value (USD billion)
CAGR of 18% from 2023 to 2030
By Function, Enterprise Type, Industry, and Region
By Enterprise Type
The market is projected to reach USD 16.43 billion by 2030.
In 2022, the market was valued at USD 4.42 billion.
The market is projected to record a CAGR of 18% over the forecast period.
The Interactive Voice Response (IVR) segment is likely to lead the market expansion.
The increasing adoption of cloud computing technology in the fastest growing IT & telecommunication industry is accelerating the market growth.
Anywhere365 Enterprise Dialogue Management, Computer Talk Technology Inc., 8x8, Inc., Content Guru, Enghouse Interactive, Genesys Telecommunication Laboratories, Inc., NICE Systems Ltd., Talkdesk, and Evolve IP, LLC are the top players in the market.
North America is expected to hold the largest global share in the market.
The BFSI industry is expected to record a CAGR of 22.3%.
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