Contact Center As A Service Market Size is Predicted to Witness 19.1% CAGR till 2030

[sara James]

The global Contact Center As A Service Market size is expected to reach USD 17.12 billion by 2030, registering a CAGR of 19.1% from 2023 to 2030, according to a new report by Grand View Research, Inc. The market growth can be attributed to the rising adoption of cloud-based contact center services by enterprises to offer better flexibility and customer convenience. Many organizations are adopting Business Intelligence (BI) technology, as it provides them with a holistic view of agent performance and helps measure how they are achieving organizational goals.

Businesses are widely adopting cloud-based contact centers owing to benefits such as reduced integration, support, and IT-related costs, which could help drive the growth of the Contact Center as a Service (CCaaS) market. Moreover, numerous players are developing cloud contact centers to enhance operational functionality and flexibility for users. For instance, in January 2021, Infosys announced the launch of the Infosys Cortex, a customer engagement platform that leverages the technology from Genesys, a cloud contact center solutions provider, along with Contact Center AI and analytics services from Google Cloud.

Numerous CCaaS providers are entering into partnerships with communication companies to deploy contact center software and expand their reach.For instance, in May 2023, BT, a U.K.-based telecommunications provider, and Five9, a leading intelligent CX Platform provider, announced an expanded partnership aimed at offering a wider range of contact center services and solutions to organizations worldwide. As part of this collaboration, BT will now provide the Five9 Intelligent CX Platform as a managed service to both new and existing customers. This offering aims to assist organizations in achieving full digitalization of their workplace by seamlessly integrating with their existing voice, unified communications, digital channels, and Customer Relationship Management (CRM) systems.

The COVID-19 pandemic is expected to have a positive impact on the market. As the pandemic situation continues, cloud-hosted contact centers are gaining more traction as it provides better levels of reliability, availability, and disaster recovery because agents can access the tools they need to perform the job from any place. Moreover, cloud-hosted contact centers provide better workforce elasticity for easily scalable solutions and faster deployment of new capabilities and technology solutions. However, the increasing concerns of data security are expected to hamper the market growth over the forecast period. CCaaS solutions handle huge data volumes and critical financial data of consumers, which could be at risk of malicious attacks.

List of Key Players in Contact Center As A Service Market

• Alcatel Lucent Enterprise
• Avaya, Inc.
• Cisco Systems, Inc.
• Enghouse Interactive Inc.
• Five9, Inc.
• Genesys
• Microsoft Corporation
• NICE inContact
• SAP SE
• Unify Inc.

Related Press Release@ Contact Center As A Service (CCaaS) Market Report

Contact Center As A Service Market Report Highlights

• In terms of solution, the customer collaboration segment is expected to witness the highest Compound Annual Growth Rate (CAGR) over the forecast period. This can be attributed to the rising focus of businesses on offering enhanced customer satisfaction by solving their issues and promptly attending their calls
• In terms of service, the managed services segment is likely to register the highest CAGR over the forecast period. The increasing need for monitoring IT operations, data backup and recovery, help desk support, and security is expected to drive the demand for managed services over the forecast period
• In terms of enterprise size, the small and medium enterprises segment is likely to register the highest CAGR. Convenient service delivery and the low cost of investment related to CCaaS is boosting its adoption across small & medium enterprises
• In terms of end use, the consumer goods and retail segment is expected to provide promising growth opportunities to the marketdue to the increasing focus on enhancing customer experience, improving sales and marketing effectiveness, and enabling seamless omnichannel customer interactions in the highly competitive retail industry
• The North American regional market dominated in 2022 and is likely to present promising growth opportunities for the market over the forecast period as well. The Asia Pacific regional market is expected to witness the highest growth owing to the increasing industrial expansion and development in emerging economies of the region

Contact Center As A Service (CCaaS) Market Report Scope

Report Attribute	Details
Market size value in 2023	USD 5.04 billion
Revenue forecast in 2030	USD 17.12 billion
Growth rate	CAGR of 19.1% from 2023 to 2030
Base year of estimation	2022
Historical data	2017 - 2021
Forecast period	2023 - 2030

 

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Contact Center As A Service Market Segmentation

Grand View Research has segmented the global contact center as a service market report on the basis of solution, service, enterprise size, end-use, and region:

Contact Center As A Service (CCaaS) Solution Outlook (Revenue, USD Billion, 2017 - 2030)

• Automatic Call Distribution
• Call Recording
• Computer Telephony Integration
• Customer Collaboration
• Dialer
• Interactive Voice Response
• Reporting & Analytics
• Workforce Optimization
• Others

Contact Center As A Service (CCaaS) Outlook (Revenue, USD Billion, 2017 - 2030)

• Integration & Deployment
• Support & Maintenance
• Training & Consulting
• Managed Services

Contact Center As A Service (CCaaS) Enterprise Size Outlook (Revenue, USD Billion, 2017 - 2030)

• Large Enterprises
• Small & Medium Enterprises

Contact Center As A Service (CCaaS) End-use Outlook (Revenue, USD Billion, 2017 - 2030)

• BFSI
• Consumer Goods & Retail
• Government
• Healthcare
• IT & Telecom
• Travel & Hospitality
• Others

Contact Center As A Service (CCaaS) Regional Outlook (Revenue, USD Billion, 2017 - 2030)

• North America
• • U.S.
  • Canada
• Europe
• • Germany
  • UK
  • France
• Asia Pacific
• • China
  • India
  • Japan
  • South Korea
  • Australia
• Latin America
• • Brazil
  • Mexico
• Middle East & Africa
• • Kingdom of Saudi Arabia (KSA)
  • UAE
  • South Africa