According to a new report published by Introspective Market Research, titled, “Contact Center As A Service Market by Function (Automatic Call Distribution, Call Recording, Customer Collaboration, Computer Telephony Integration, Others), Enterprise Size (Large Enterprises, Small & Medium Enterprises) And Region: Global Opportunity Analysis and Industry Forecast, 2024–2032,” the global Contact Center As A Service Market size was valued at $ 5.22 billion in 2023, and is projected to reach $ 23.51 billion by 2032, registering a CAGR of 18.2% from 2023 to 2032. a software deployment model also known as a cloud-based contact center or platform, an organization can purchase just the technology it requires and have it managed by vendors, saving on the need for internal IT support. A cloud-based application called Contact Center as a Service serves as a central point for all customer interactions and other high-volume audience interactions. It can monitor email, text messaging, web chat, and voice and digital modes of communication. Because intelligently routing contacts from all communication channels is the primary goal of a contact center as a service, it is sometimes referred to as skills-based routings.
The sector for contact center as a service has grown as a result of the rising use of chatbots driven by Al and cloud-based software. Over the course of the forecast period, the increasing number of well-known companies introducing contact center solutions based on Application Programming Interface (API) is anticipated to propel market growth. Businesses can receive online customer service by using an API-based contact center solution that handles messages, texts, live chats, emails, phone calls, SMS, and support requests. The industry is growing as a result of several large companies creating customer experience contact centers based on APIs.
Many companies have adopted cloud-based contact centers as a result of the growing popularity of internet-based services. Agents may readily access real-time client information and communicate from any location because of the flexibility provided by cloud-based solutions. Agents and staff no longer need to work full-time from office spaces thanks to cloud-based contact center solutions, which enable agents to be hired anywhere in the world. Businesses are also encouraged to use cloud-based contact center services by the improved system dependability and secure solutions. To improve security, contact center system vendors construct an active architecture that splits end-use infrastructure processing across two locations.
Global Contact Center As A Service Market, Segmentation
The Contact Center As A Service Market is segmented based on Function, Enterprise Size, and region.
Function:
Multichannel, Interactive Voice Response (IVR), Computer Telephony Integration (CTI), automated call distribution, reporting and analytics, workforce optimization, customer collaboration, and others (dialer, recording) are the different market segments. Automation of call distribution, multichannel, workforce optimization, customer cooperation, Computer Telephony Integration (CTI), reporting & analytics, and other features (dialer, recording) are driving demand for digital services and driving up the use of CCaaS software. The market expansion for contact center services is anticipated to be aided by this factor.
Application:
The small and medium-sized business segment is anticipated to increase at the fastest rate. Cloud-based contact center solutions are preferred by small and medium-sized businesses because they require less IT support and component expenditure, which lowers the investment cost and improves cost savings. Another factor driving the market's expansion is the dearth of customer care agents and on-board IT personnel in small and medium-sized businesses. Small and medium-sized businesses can increase agent productivity and improve the entire customer experience with the aid of CCaaS solutions.
Region:
North America led the market. With a vast variety of businesses across numerous industries, the region boasts a highly developed and technologically advanced corporate landscape. Having realized how important it is to provide outstanding client experiences, these companies have made large investments in contact center solutions. Furthermore, the contact center software sector has a number of well-established significant firms with a wide market reach based in North America.
Asia Pacific is anticipated to become the geographical market with the fastest growth. Numerous IT firms and information technology-enabled services (ITES) are present in the region, which has contributed to the expansion of the contact center software industry. The regional market is expected to increase as a result of the increasing use of contact center solutions by small and medium-sized businesses.
Some of The Leading/Active Market Players Are-
- Avaya, Inc.(US)
- Cisco Systems, Inc.(US)
- Enghouse Interactive Inc. (US)
- Five9, Inc. (US)
- Genesys (US)
- Microsoft Corporation (US)
- NICE inContact (US)
- Alcatel Lucent Enterprise (France)
- SAP SE (Germany)
- Unify Inc (Germany) and Other Active Players
Key Industry Developments
- In June 2023, Verint launched Open Contact Center as a Service (CCaaS) platform. The platform focuses on open solutions to increase automation and overall customer experience (CX) across numerous channels. The platform integrates openly with existing customer ecosystems, allowing brands to adopt CX automation at their own pace.
- In January 2023, zoom video communication has introduced Zoom Contact Center in Australia and New Zealand along with Zoom Virtual Agent, an AI-powered chatbot solution. Zoom Contact Center provides omnichannel contact center-as-a-service (CCaaS), enabling businesses to engage customers through chat, SMS, voice, and video.
Key Findings of the Study
- Small and medium-sized enterprises like cloud-based contact center solutions because of their affordability and adaptability. These solutions allow agents to access real-time client information from anywhere, which boosts productivity.
- North America is the market leader for contact center solutions due to its highly developed corporate environment and large investments in delivering exceptional customer experiences.
- The CCaaS market is anticipated to develop at the quickest rate in the Asia Pacific region due to the presence of many IT companies and growing adoption by small and medium-sized enterprises.
