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Contact Center as a Service (CCaaS) Market Size, Share & Industry Analysis, By Function (Interactive Voice Response (IVR), Multichannel, Automatic Call Distribution, Computer Telephony Integration (CTI), Reporting and Analytics, Workforce Optimization, Customer Collaboration, and Others), By Enterprise Type (Small and Mid-sized Enterprises (SMEs) and Large Enterprises), By Industry (BFSI, IT & Telecommunications, Government, Healthcare, Consumer Goods & Retail, Travel & Hospitality, Media & Entertainment, and Others), and Regional Forecast, 2024 – 2032

Last Updated: July 19, 2024 | Format: PDF | Report ID: FBI104160

 

KEY MARKET INSIGHTS

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The global contact center as a service (CCaaS) market size was valued at USD 5.18 billion in 2023. The market is projected to grow from USD 6.08 billion in 2024 to USD 24.45 billion by 2032, exhibiting a CAGR of 19.0% during the forecast period.


Contact Center as a Service (CCaaS) is cloud-based software that offers customer communication functions without relying on traditional call center hardware. It consolidates various customer interactions such as outbound and inbound phone calls, emails, website chats, text messages, and support tickets. Similar to other SaaS applications, the software is delivered as a monthly or annual subscription for full functionality. Moreover, CCaaS streamlines every customer touchpoint into a single platform, enhancing efficiency and revolutionizing customer satisfaction and engagement.


This market study examines Contact Center as a Service (CCaaS) products and services offered by prominent companies, such as Enghouse Interactive., Content Guru, 8x8, Inc., Anywhere 365, Luware AG., Computer Talk Technology Inc., Genesys, and others worldwide. These firms deliver cloud-based contact center solutions, voicebots, contact center management services, Interactive Voice Response (IVR) systems, chatbots, and various additional services.


While the market experienced a slowdown during the COVID-19 pandemic due to the reduced demand, it rebounded steadily in 2021. This demand was fueled by increased adoption of cloud-based services and software, including CCaaS, by the global remote workforce.


The contact center as a service market is likely to grow as major organizations are developing AI-powered contact center platform solutions to enhance customer experience. For instance, in January 2024, C-Zentrix partnered with Servion to offer AI-powered contact center and cloud-based omnichannel solutions. The partnership aids both businesses in offering personalized and innovative experiences and increasing customer value.


IMPACT OF GENERATIVE AI


Leveraging Generative AI for Summarization and Enhanced CX to Create Opportunities in the Market


The dynamic realm of Artificial Intelligence (AI) in Contact Center as a Service (CCaaS) is continuously integrating CCaaS advantages with advancements in generative AI. This fusion aims to improve automation, create smarter self-service options, and provide personalized customer experiences. Leveraging generative AI for summarization aids contact center agents during and post-customer interactions, enhancing customer experience and reducing post-call wrap-up time. Additionally, contact center managers benefit from AI-generated summaries of calls and trends, facilitating issue identification and targeted coaching.


Companies offering CCaaS solutions strive to enhance services by employing intelligent AI systems for detailed customer insights, tailored interactions, and automation, ultimately optimizing efficiency, quality, and cost-effectiveness. For instance, in August 2023, IGT Solutions (AI-led BPM provider) collaborated with Thrio (AI-powered CCaaS technology provider) to improve customer experience. The partnership strengthened TechBud.AI, IGT Solutions' Generative AI platform, with Thrio's AI-powered CCaaS technology.


Contact Center as a Service Market Trends


Enhanced Efficiency through Automated Responses is a Latest Trend


Companies across industries are increasingly adopting Contact Center as a Service (CCaaS) solutions to handle routine inquiries through automated responses, boosting the efficiency of remote employees. CCaaS solution providers are integrating advanced analytics systems to furnish dashboards with pertinent data, empowering users with real-time insights into customer experiences.


This trend of displaying statistical dashboards on user interfaces for immediate updates represents a noteworthy market advancement in the CCaaS sphere, enhancing operational efficiency and facilitating informed decision-making. For instance,


January 2024: Hammer launched Hammer Edge, a cloud platform to provide CCaaS vendors, enterprise contact centers, global systems integrators, and other organizations with hybrid and remote workforces with total visibility into their network, endpoint, system health, application, and across other agent populations.


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Contact Center as a Service Market Growth Factors


Increasing Adoption of API-based Contact Centers to Aid Market Growth


The surge in cloud-based software services and AI-driven chatbots has propelled the growth of the market. The increasing adoption of Application Programming Interface (API)-based contact center solutions by leading organizations are anticipated to fuel market expansion consistently.


These API-based contact center solutions streamline online customer support by handling messages, live chats, texts, emails, SMS, phone calls, and support requests for businesses. Several major firms are developing API-driven customer experience contact centers, further stimulating the contact center as a service market growth. For instance,


In December 2022, Lumen Technologies partnered with Genesys to launch Lumen Solutions for Contact Center – Genesys Cloud. The Contact Center as a Service (CCaaS) solution is a cloud-based or hybrid solution aiding businesses in driving customer retention and increasing productivity while decreasing costs.


RESTRAINING FACTORS


Rising Threat of Frauds, Security Concerns, and Data Breaches May Hinder Market Growth


The increasing adoption of digital technologies such as cloud computing and artificial intelligence has increased the risk of cyberattacks and data breaches within contact centers. With the proliferation of internet connectivity and usage, there is a pressing demand for enhanced compliance, security, and data protection measures. As per the statistics provided by NICE, a software solutions provider, global contact centers handle over 100 billion calls monthly, with approximately one in every 1,700 calls flagged as fraudulent. The contact center platform manages a substantial volume of client data that is highly vulnerable to data security threats, and robust measures are required to address them.


Contact Center as a Service Market Segmentation Analysis


By Function Analysis


Rising Demand for Effective Interactions with Healthcare Professionals During COVID-19 Boosted Adoption of IVR Systems


Based on function, the market is segmented into Interactive Voice Response (IVR), multichannel, automatic call distribution, Computer Telephony Integration (CTI), reporting and analytics, workforce optimization, customer collaboration, and others (recording, dialer).


The Interactive Voice Response (IVR) segment holds a dominant contact center as a service market share. IVR functions as an automated computer system facilitating communication between consumers and company personnel. During the pandemic, numerous organizations utilized IVR technology to gather information about COVID-19 symptoms and patients’ health.


The demand for digital services is driven by workforce optimization, customer collaboration, Computer Telephony Integration (CTI), reporting and analytics, multichannel, automatic call distribution, and others (recording and dialer), thereby surging the adoption of CCaaS software.


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By Enterprise Type Analysis


Small and Mid-sized Enterprises (SMEs) Lead Market Share, Fueled by Surge in Start-ups and Cloud Software Investments


Based on enterprise type, the market is bifurcated into Small and Mid-sized Enterprises (SMEs) and large enterprises.


The SMEs segment dominates the market share due to the rising number of start-ups and increased investment in cloud-based software solutions among the leading companies.


As technology advances, augmented reality (AR) and visuals are expected to be more widely used in call and contact center outsourcing. Large companies plan to invest in enhanced training programs for their outsourcing partners, emphasizing the importance of skilled agents in delivering high-quality customer support. This aids in the expansion of CCaaS adoption among large enterprises.


By Industry Analysis


IT & Telecommunications Sector Dominates Market Share, Propelled by Digital Strategy Adoption


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 holds the largest market share, driven by the increasing focus on meeting customer demands and adopting digital strategies for customer interactions. The industry’s growth has led to an increased demand for Contact Center as a Service (CCaaS) solutions, catering to a variety of needs in this sector.


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.


REGIONAL INSIGHTS


Based on geography, the global market has been analyzed across five major regions: North America, Europe, Asia Pacific, the Middle East & Africa, and South America.


North America Contact Center as a Service Market Size, 2023 (USD Billion)

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North America’s growth is attributed to the digital maturity of the region and holds the highest market share of the global market. In addition, increased investments in cloud-based software and numerous reputable firms in the U.S. are expected to boost market expansion during the analysis period. The presence of several renowned contact center as a service providers in the U.S., including Talkdesk, Inc., Genesys Inc., 8x8, Inc., and many others, is driving the expansion of the market in the region.


Asia Pacific is anticipated to record the fastest CAGR during the forecast period, with China and Japan likely to dominate and stand among the market's fastest-growing countries. One major factor contributing to the regional market’s growth is the increased investment by renowned organizations in automating business operations. For instance, in September 2021, Toku, a Singapore-based CCaaS Startup, raised USD 5.0 million in funding, utilizing the capital to enhance its product capabilities and coverage to simplify digital transformation.


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 such solutions and launching Contact Center as a Service (CCaaS) solutions in emerging nations across South America and the Middle East & Africa, such as GCC, Columbia, Mexico, Chile, Brazil, South Africa, and others. For instance, in April 2021, Avaya expanded the availability of its AI-powered Avaya OneCloudTM CCaaS solution into 40 countries, including Saudi Arabia. The company aided local enterprises with digital capabilities to connect employees and customers across any touchpoint better.


List of Key Companies in Contact Center as a Service Market


Rising Introduction of AI-powered Tools by Key Market Players to Aid Market Growth


Companies offering Contact Center as a Service (CCaaS) 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 from clients for enhanced tools. To expand their global operations, the market participants use various strategies, such as acquisitions, partnerships, mergers, and collaborations. For instance,



  • November 2022: Zoom Communications partnered with Verint, CallMiner, ServiceNow, and several other prominent CX vendors to improve its CCaaS portfolio. The new launches include a conversational AI application, workforce management solutions, contact center interactions, and others.


List of Key Companies Profiled:



  • Genesys Telecommunication Laboratories, Inc. (U.S.)

  • Talkdesk Inc. (U.S.)

  • 8x8, Inc. (U.S.)

  • Evolve IP, LLC (U.S.)

  • NICE Systems Ltd. (Israel)

  • Enghouse Interactive (U.S.)

  • Content Guru Limited (U.K.)

  • Computer Talk Technology Inc. (Canada)

  • Five9 Inc. (U.S.)

  • Avaya LLC (U.S.)


KEY INDUSTRY DEVELOPMENTS:



  • November 2023: TELUS International partnered with Five9 to launch an enhanced CCaaS solution. The platform empowered brands with customer insights that are AI-driven, facilitating improved customer experience, including next-level personalization.

  • October 2023: Bharti Airtel launched Airtel CCaaS in its Airtel IQ segment. It is an integrated omni-channel cloud platform. The platform gives comprehensive solutions for contact centers, including voice, software, and cloud, at an affordable cost.

  • September 2023: Genesys partnered with Salesforce to assist businesses in integrating their agents, data, communication channels, and bots for smarter customer and employee experiences. The companies introduced CX Cloud integrated Salesforce Service Cloud and Genesys Cloud CX.

  • August 2023: Verint achieved a co-sell agreement with Microsoft. The Verint Open CCaaS platform was made commercially available in the Microsoft Azure Marketplace. This agreement enabled more enterprises to increase customer experience automation by leveraging the Verint platform on Azure.

  • March 2023: Lumen Technologies partnered with Talkdesk to expand its portfolio of CCaaS offerings. The partnership enabled Lumen customers to access the full suite of Talkdesk cloud contact center solutions.


REPORT COVERAGE


The report provides a detailed analysis of the market and focuses on key aspects such as leading companies, product/service types, and leading applications of the product. Besides, the report offers insights into the market trends and highlights key industry developments. In addition to the factors above, the report encompasses several factors that contributed to the growth of the market in recent years.


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Report Scope & Segmentation










































ATTRIBUTE



DETAILS



Study Period



2019-2032



Base Year



2023



Estimated Year



2024



Forecast Period



2024-2032



Historical Period



2019-2022



Unit



Value (USD billion)



Growth Rate



CAGR of 19.0% from 2024 to 2032



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 Enterprise Type



  • Small and Mid-sized Enterprises (SMEs)

  • Large Enterprises


By Industry



  • BFSI

  • IT & Telecommunications

  • Government

  • Healthcare

  • Consumer Goods & Retail

  • Travel & Hospitality

  • Media & Entertainment

  • Others (Automotive, etc.)


By Region



  • North America (By Function, Enterprise Type, Industry, and Country)


    • U.S.

    • Canada

    • Mexico


  • Europe (By Function, Enterprise Type, Industry, and Country)


    • U.K.

    • Germany

    • France

    • Italy

    • Spain

    • Russia

    • Benelux

    • Nordics

    • Rest of Europe


  • Asia Pacific (By Function, Enterprise Type, Industry, and Country)


    • China

    • India

    • Japan

    • Hong Kong

    • Indonesia

    • Singapore

    • Thailand

    • Philippine

    • Malaysia

    • South Korea

    • Oceania

    • Rest of Asia Pacific


  • Middle East & Africa (By Function, Enterprise Type, industry, and Country)


    • Turkey

    • Israel

    • UAE

    • Egypt

    • Kuwait

    • Qatar

    • Saudi Arabia

    • Ethiopia

    • Kenya

    • Nigeria

    • Morocco

    • South Africa

    • Rest of the Middle East & Africa


  • South America (By Function, Enterprise Type, Industry, and Country)


    • Brazil

    • Columbia

    • Argentina

    • Rest of South America







Frequently Asked Questions

According to Fortune Business Insights, the market is projected to reach USD 24.45 billion by 2032.

In 2023, the market value stood at USD 5.18 billion.

The market is projected to record a CAGR of 19.0% over the forecast period.

By function, the Interactive Voice Response (IVR) leads the market.

The increasing adoption of cloud computing technology in the fastest-growing IT & telecommunication industry is a key driver accelerating the market growth.

Genesys Telecommunication Laboratories, Inc., Talkdesk Inc., 8x8, Inc., Evolve IP, LLC, NICE Systems Ltd., Enghouse Interactive, Content Guru Limited, Computer Talk Technology Inc., Five9 Inc., and Avaya LLC are the top players in the market.

North America holds the largest share of the market.

The BFSI industry is expected to grow with the highest CAGR.

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