"Smart Strategies, Giving Speed to your Growth Trajectory"

Contact Center as a Service (CCaaS) Market Size, Share & COVID-19 Impact 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 Size (Small & Medium Enterprises and Large Enterprises), By Industry (BFSI, IT & Telecommunications, Government, Healthcare, Consumer Goods & Retail, Travel & Hospitality, Media & Entertainment, and Others), and Regional Forecast, 2021-2028

Region : Global | Format: PDF | Report ID: FBI104160

 

KEY MARKET INSIGHTS

Play Audio Listen to Audio Version

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. The global impact of COVID-19 has been unprecedented and staggering, with the contact center as a service witnessing a negative impact on demand across all regions amid the pandemic. Based on our analysis, the global market exhibited a lower growth of 15.2% in 2020 as compared to the average year-on-year growth during 2017-2019. The rise in CAGR is attributable to this market’s demand and growth, returning to pre-pandemic levels once the pandemic is over.’


The market size has slightly declined due to COVID-19, owing to a lack of demand across all regions amid the pandemic. However, in 2021, the global market has shown an increase in demand due to a surge in cloud-based software and service CCaaS market adoption for the remote working population around the globe.


In the market study, we have considered CCaaS products and services offered by market players such as Luware AG., Anywhere 365, Computer Talk Technology Inc., 8x8, Inc., Content Guru, Enghouse Interactive., Genesys, and others operating across the globe and regions. The product and services offered by these players include cloud contact center solutions, interactive voice response system (IVR), contact center management services, Voicebots, chatbots, and many other services.


The leading players are launching AI-powered contact center platform solutions to enhance customer experience, which is expected to drive market growth.  



  • In June 2021, -IQVIA, a provider of advanced analytic solutions for the life sciences sector, launched AI-powered technology-based medical information (MI) contact center service. The medical contact center service helps through the skilled agents to the inquiries from patients, consumers, and healthcare professionals (HCPs) around the globe.


COVID-19 Impact


Slight Decline in Digital Technology Spending in End-User Industries amid COVID-19


During the COVID-19 pandemic, the overall economies around the globe have shown a slight decline in their GDP owing to the closure of businesses. However, in the healthcare sector, the customer service and contact centers have shown an exceptional increase in the overall volume of calls from consumers around the globe.


Most of the leading companies in this market are launching AI-powered chat tools and cloud-based contact centers. Banks and financial service providers, and government organizations have shown an increase in demand during the Covid-19 pandemic for contact center services. Various corporate companies have adopted and launched technology-based Ccaas solutions to maintain customer relationships and the workforce in remote locations. Also, several leading players are investing considerable amounts in launching advanced technology tools. For instance,



  • In August 2021, Talkdesk, a cloud-based contact center software provider, received Series-D funding of USD 230 million from the Whale Rock Capital Management investor. Talkdesk adopted advanced technologies, such as machine learning and artificial intelligence, to improve enterprise businesses' customer service. The company has more than 1,800 clients, including IBM Corporation, Trivago N.V., Acxiom, LLC, Fujitsu Ltd, and others.


LATEST TRENDS


Request a Free sample to learn more about this report.


Growing Trend of Work from Home In Various Industries for Higher Client Retention


Omnichannel contact centers providers are launching advanced analytics programs for building dashboards with statistics that affect their businesses. CCaaS trends of displaying the statistical dashboards on user interfaces to get real-time updates on customer experiences are witnessing potential market growth. For instance,



  • In November 2020, Atos SE and Colt Technology Services Group Limited partnered to deliver the CCaaS. Colt offers CCaaS solutions through its voice and cloud solutions integrated with Atos’ cloud contact center solution. This partnership has enabled seamless customer interactions via several omnichannel such as social media, phone, chat, and other innovative AI-based solutions.

  • In October 2020, SugarCRM Inc., a marketing and service software provider, launched omnichannel customer service SugarLive, an advanced platform. This platform is integrated with contact service Amazon Connect for chat, voice, and text messaging tasks. SugerLive offers seamless advanced, omnichannel contact center services to empower teams with powerful tools and facilitate better customer service interaction.


DRIVING FACTORS


Increasing Adoption of Application Programming Interface (API) based Contact Center to Aid Market Growth


The rise in the adoption of AI-powered chatbots and cloud-based software as services has propelled the contact center as a service (CCaaS) market growth. The rising launch of application programming interface (API) based contact centers solutions by the major companies is driving the demand for market growth during the forecast period. The API-based contact center service offers online customer service by handling phone calls, live chat, emails, messages, texts, SMS, and support tickets for organizations. Several leading players are launching API-based contact centers for customer experience, which promotes market growth. For instance,



  • In September 2020, Amazon Web Services launched API-based contact flow management Amazon Connect platform. The platform enables users to manage phone numbers, queues, contact flows, and many other operations. Amazon Connect could describe, create, describe, publish, and update the contact flows with the help of API. Contact-center administrator programmatically configures and tests contact flows that could automate the progression of contact flows during the development stages.

  • In October 2019, Vonage cloud communications service provider launched Conversation API-based Meetings and App Center platform. Conversation Vonage API platform can create customized, real-time conversations context across multiple channels, including voice and messaging.


RESTRAINING FACTORS


Rising Threat of Fraudulent Cases, Security Concern, and Data Breaches Activity May Hinder Market Growth


The rising adoption of digital technologies such as cloud computing and artificial intelligence has increased the risk of data breaches and cyber threats across the contact centers. With increased connections and internet adoption, there is an increased demand for security, compliance, and data protection. For instance, Statistics by NICE solutions provider shows that contact centers located worldwide handle more than 100 billion calls per month; among this, one in every 1,700 calls are detected as a fraud.  The contact center platform handles a huge amount of data related to its customers, which is often subjected to the high risk of data security.


SEGMENTATION


By Function Analysis


To know how our report can help streamline your business, Speak to Analyst


Rising demand for Effective Interactions with Healthcare Professional Amid COVID-19 Pandemic Aid the Market Growth


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, etc.).


The interactive voice response (IVR) segment is expected to dominate during the forecast period. This interactive voice response (IVR) is the automated computer system for interacting with customers and business employees. During the Covid-19 pandemic, several organizations have adopted the interactive voice response technology for seeking information about the symptoms of COVID-19 and the patient’s health status. For instance,



  • In April 2020, the Tamil Nadu e-Government Agency in India, in collaboration with the State Health Department from IIT Madras and Department of Telecom in the Government of India, launched an Interactive Voice Response System (IVRS). This platform helped the people in the state with the information related to Covid-19, health status, to acknowledge the symptoms of COVID-19.


The multichannel, computer telephony integration (CTI), customer collaboration, workforce optimization, automatic call distribution, reporting and analytics, and others (recording, dialer, etc.) are anticipated to showcase stable growth owing to the growing demand in the rising digital services sector.


By Enterprise Size Analysis


Growing Number of SMEs in the IT and Telecommunication Sector to Drive Market


The global contact center as a service market is bifurcated into SMEs and large enterprises based on the enterprise size.


The small and medium enterprises are anticipated to dominate the market share during the forecast period. This is primarily attributed to the key players' increasing number of start-ups and surge in investment in cloud-based software solutions.


By Industry Analysis


Increasing Investment in the IT and Telecommunications Sector with Surge in Digitalization Globally to Aid Market Growth


Based on industry, the market is categorized into BFSI, IT and telecommunications, government, healthcare, consumer goods and retail, travel and hospitality, media and entertainment, and others.


The IT and telecommunications industry is anticipated to hold a significant market share during the forecast period. The majority of CCaaS has usage in this sector, owing to the rising focus on customer needs with a digital technology approach for customer engagement. According to the IDC Report, in 2020, global revenue generated in the IT sector was valued at USD 4.8 trillion and was expected to reach USD 5 trillion in 2021. The growth in this sector has witnessed potential demand for market growth in the IT and telecommunication sector.


The BFSI, government, healthcare, consumer goods, and retail, travel, and hospitality, and media & entertainment industries are expected to showcase steady growth owing to rising demand to monetize advanced wireless networks through new products, services, and business models.


REGIONAL INSIGHTS


North America CCaaS Market Size, 2020 (USD Billion)

To get more information on the regional analysis of this market, Request a Free sample


The market has been analyzed across five major regions: North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America.


North America is expected to dominate the global contact center as a services market during the forecast period. The growing investment in cloud-based software and several leading players based in the U.S. have fueled the market growth. For instance, according to the U.S. Federal Government, the annual federal government spending on cloud computing reached USD 6.8 Billion and is expected to reach USD 7.8 billion by 2022. In the U.S., there are several contact centers as services providers such as 8x8, Inc., Genesys Telecommunication Laboratories, Inc., Talkdesk, Inc., and many others. This surges the demand for contact center as a services in this region.


Asia Pacific is expected to grow with the highest CAGR during the forecast period. China and Japan are likely to lead the Asia Pacific and are among the fastest-growing regions in the market. The growth in this region is also owing to rising investment by the key players for automating the business processes. For instance,



  • In April 2018, Avaya Inc. launched its contact center as a service in Asia Pacific to meet the growing demand for automating business processes and enhancing workforce efficiency.


Europe is expected to hold the second-largest position in the market owing to the surge in adoption of cloud technology with government support and investments in the manufacturing and healthcare sector for simplifying the business processes.


Key players in the market are investing and launching CCaaS in the developing countries in Latin America, Middle East, and Africa, such as South Africa, Brazil, GCC, Chile, the Philippines, Columbia, Mexico, and others. For instance,


To know how our report can help streamline your business, Speak to Analyst



  • In July 2021- GoContact, a contact center-as-a-service solutions provider, expanded its sales and service operations in Angola and Colombia.

  • In June 2021: Israel -based NICE Systems Ltd. launched the latest AI voice of the customer solution, which is an integration of AI with NICE Satmetrix Voice of the Customer. This solution helps to minimize costly repeat calls and customer churn.


KEY INDUSTRY PLAYERS:


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


The contact center as a service companies such as 8x8, Inc., NICE, Talkdesk Inc., Cisco Systems, Evolve IP, LLC, Luware AG., and among others, are focused on launching advanced technology-based AI-powered innovative cloud-based solutions. These players are expanding their investment in cloud platforms to cater to the growing demand of the customers with advanced tools. The players are adopting several strategies such as mergers, acquisitions, partnerships, and collaboration to enhance their businesses across the globe. For instance,



  • May 2021: Content Guru Limited announced a strategic partnership with Wavenet. The company’s key aspect of this partnership is the ongoing strategy of merging with high-value partners in the major market and expanding the contact center as a service software worldwide.

  • February 2021: Computer Talk Technology Inc. launched the latest version of the ice contact center as “ice contact center 11”. This updated version offers multi-contact handling, enhanced survey efficiency, segmented recording, redesigned ice monitor, and enhancements to increase usability and accessibility.

  • January 2021: Talkdesk, Inc. expanded its machine learning abilities with Amazon Web Services and Contact Center Intelligence solutions. This solution helps customers to combine off-the-shelf AWS machine learning functions with their current contact center provider to generate higher efficiencies and offer increasingly personalized customer experiences.


List of the Key Companies Profiled:



KEY INDUSTRY DEVELOPMENTS:



  • August 2021: NICE Systems Ltd. announced GWA Group Limited had implemented NICE CXone for technology innovation and digital transformation. This implementation enables the company's shift to a digital contact center platform that is capable of managing remote work while enhancing customer experiences.

  • July 2021: Genesys Telecommunication Laboratories, Inc. introduced the latest capabilities which enable quick innovation for AI-driven customer experience. These latest tools are a simpler way for organizations to create and coordinate their own bot experiences, integrate third-party messaging apps, and provide technical training to their workforce. 

  • April 2021: 8x8, Inc. announced a distribution agreement with Westcon Group, Inc. The partnership offers updated cloud communication and contact center solution while also providing Unified communications as a service (UCaaS) and CCaaS public cloud services to Westcon's partners on a wholesale basis.

  • February 2021: Anywhere365 entered into a strategic partnership with ASC technologies to integrate compliance call recording to Microsoft Teams Contact Centers. Throughout this partnership, Anywhere365 company will add ASC Recording Insights software in its Azure-based Dialogue Cloud Platform.


REPORT COVERAGE


An Infographic Representation of Contact Center as a Service (CCaaS) Market

To get information on various segments, share your queries with us



The contact center as a service market research report highlights leading regions worldwide to understand the user better. Furthermore, the report provides insights into the latest industry and market trends and analyses technologies deployed rapidly globally. It further highlights some of the growth-stimulating factors and restraints, helping the reader gain in-depth knowledge about the market.


REPORT SCOPE & SEGMENTATION






















































  ATTRIBUTE



  DETAILS



Study Period



2017-2028



Base Year



2020



Estimated Year



2021



Forecast Period



2021-2028



Historical Period



2017-2019



Unit



Value (USD billion)



Segmentation



Function; Enterprise Size; Industry; and Geography



By Function




  • Interactive Voice Response (IVR)

  • Multichannel

  • Automatic Call Distribution

  • Computer Telephony Integration (CTI)

  • Reporting and Analytics

  • Workforce Optimization

  • Customer Collaboration

  • Others (Recording, Dialer, etc.)



By Enterprise Size




  • SMEs

  • Large Enterprises



By Industry




  • BFSI

  • IT and Telecommunications

  • Government

  • Healthcare

  • Consumer Goods and Retail

  • Travel and Hospitality

  • Media and Entertainment

  • Others



By Region




  • North America (By Function, By Enterprise Size, By Industry, And By Country)

    • U.S. (By Function)

    • Canada (By Function)





  • Europe (By Function, By Enterprise Size, By Industry, And By Country)

    • U.K. (By Function)

    • Germany (By Function)

    • France (By Function)

    • Italy (By Function)

    • Spain (By Function)

    • Rest of Europe





  • Asia Pacific (By Function, By Enterprise Size, By Industry, And By Country)


    • China (By Function)

    • India (By Function)

    • Japan (By Function)

    • Southeast Asia (By Function)

    • Rest of Asia Pacific




  • Middle East & Africa (By Function, By Enterprise Size, By industry, And By country)

    • GCC (By Function)

    • South Africa (By Function)

    • Rest of the Middle East & Africa





  • Latin America (By Function, By Enterprise Size, By Industry, and By Country)

    • Brazil (By Function)

    • Mexico (By Function)

    • Rest of Latin America





Frequently Asked Questions

The market is projected to reach USD 11.76 billion by 2028.

In 2020, the market was valued at USD 3.53 billion.

The market is projected to grow at a CAGR of 16.4%.

The interactive voice response (IVR) is likely to lead the market.

The increasing adoption of cloud computing technology in the fastest growing digital IT and telecommunication industry is escalating 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, Evolve IP, LLC are the top players in the market.

North America is expected to hold the highest global share in the contact center as a service market.

BFSI industry is expected to grow with a CAGR of 17.3%.

Seeking Comprehensive Intelligence on Different Markets?
Get in Touch with Our Experts

Speak to an Expert
Contact Center as a Service (CCaaS) Market Size, Share and Global Industry Trend Forecast till 2026
  • Feb, 2022
  • 2020
  • 2017-2019
  • 160

    CHOOSE LICENSE TYPE

  • $4850
    $5850
    $7850
    Buy Now

Personalize this Research

  • Granular Research on Specified Regions or Segments
  • Companies Profiled based on User Requirement
  • Broader Insights Pertaining to a Specific Segment or Region
  • Breaking Down Competitive Landscape as per Your Requirement
  • Other Specific Requirement on Customization
Request Customization Banner

Client Testimonials

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.
X