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The Contact Center as a Service (CCaaS) market size touched USD 4.42 billion in 2022 and is predicted to be valued at USD 5.15 billion in 2023. The market size is anticipated to reach USD 16.43 billion by 2030, recording a CAGR of 18% over 2023-2030.
Fortune Business Insights™ presents this information in its latest report titled “Contact Center as a Service (CCaaS) Market Size, Share, and 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 Type (SMEs and Large Enterprises), By Industry (BFSI, IT & Telecommunications, Government, Healthcare, Consumer Goods & Retail, Travel & Hospitality, Media & Entertainment, and Others), and Regional Forecast, 2023-2030”.
Rise in Spending on Digital Technologies Boosted Market Growth during COVID-19 Pandemic
Customer service centers and contact centers witnessed notable spike in their demand during the COVID-19 pandemic as there was a considerable rise in the volume of phone calls from the healthcare sector. This prompted the CCaaS solution providers to increase their investments in digital technologies to develop advanced contact center solutions. This factor played a vital role in increasing the demand for contact centers among banks and financial institutions to enhance customer service and experience. Many reputed companies as well adopted CCaaS services that are integrated with innovative technologies, further spurring the Contact Center as a Service market growth.
Rising Preference for Work from Home Solutions in End-use Industries
A growing number of contact center as a service solution providers are using advanced analytics systems to offer dashboards that contain statistics, which can affect their daily operations. CCaaS can show a variety of statistics on user interfaces to help customers gain valuable and real-time insights on customer experiences. For example, in August 2021, NICE Systems Ltd. had announced that GWA Group Limited was using the NICE CXone for digital transformation and technological innovation. This solution enabled GWA to switch to a contact center platform that improved client satisfaction and managed remote operations effectively. These developments will help the Contact Center as a Service market share grow.
Leading Companies Introduce AI-powered Tools to Cement their Market Position
Some of the key organizations providing CCaaS software and solutions, such as NICE, Luware AG., Evolve IP, LLC, Cisco Systems, Talkdesk Inc., 8x8, Inc., and many others, are increasing their efforts to launch AI-powered cloud-based solutions. These organizations are also raising their investments in a wide range of cloud platforms to cater to the strong demand for improved tools from clients. They are also adopting a variety of inorganic growth strategies, such as acquisitions, partnerships, mergers, and collaborations, to expand their operations across all regions. For example, in May 2021, Wavenet announced that it teamed up with Content Guru Limited. The aim of this collaboration was to help Wavenet partner with high-value companies in the industry and create a Contact Center as a Service software that can be accessed across the world.
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Notable Industry Development:
List of the Companies Profiled in the Report:
Further Report Findings
Table of Segmentation
Value (USD billion)
CAGR of 18% from 2023 to 2030
By Function, Enterprise Type, Industry, and Region
By Enterprise Type