Contact Center As A Service Market to Witness Huge Growth by 2030

 Contact Center As A Service Industry Overview

The global contact center as a service market size is expected to reach USD 17.12 billion by 2030, registering a CAGR of 18.4% from 2022 to 2030, according to a new report by Grand View Research, Inc. The contact center as a service (CCaaS) 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.

 

Contact Center As A Service Market Segmentation

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

 

Based on the Solution Insights, the market is segmented into Automatic Call Distribution, Call Recording, Computer Telephony Integration, Customer Collaboration, Dialer, Interactive Voice Response, Reporting & Analytics, Workforce Optimization, and Others.

  • The automatic call distribution segment dominated the market in 2021 and accounted for more than 22.0% share of the global revenue. The automatic call distribution solution is widely adopted in contact centers as it helps them to handle a large volume of inbound calls.
  • The customer collaboration segment is anticipated to register the fastest CAGR over the forecast period. Customer collaboration provides enterprises with enhanced customer satisfaction by promptly solving and attending to their issues. The increasing need to gather and use customer feedback to improve product or service offerings is expected to drive the segment growth over the forecast period.

 

Based on the Service Insights, the market is segmented into Integration & Deployment, Support & Maintenance, Training & Consulting, and Managed Services.

  • The integration & deployment segment dominated the market in 2021 and accounted for more than 41.0% of the global revenue. Growing adoption of the cloud-based contact center as a service to provide better flexibility and customer experience is expected to drive the segment growth over the forecast period.
  • The managed services segment is expected to register the fastest growth over the forecast period. The need to simplify the management of complex systems and deliver continuous operation improvement among contact centers is expected to drive the adoption of managed services over the forecast period.

 

Based on the Enterprise Size Insights, the market is segmented into Large Enterprises and Small & Medium Enterprises.

  • The large enterprise's segment dominated the market in 2021 and accounted for more than 55.0% of the global revenue. Large enterprises have a customer base spread widely across the globe, and hence to maintain business continuity efficiently, large enterprises are aggressively investing in the advanced contact center as a service technology.
  • The small & medium enterprises segment is expected to register the fastest growth over the forecast period. Small & medium enterprises prefer cloud-based contact center solutions as the IT support and components expenditure required are less, leading to a low investment cost and better cost savings.

 

Based on the End Use Insights, the market is segmented into BFSI, Consumer Goods & Retail, Government, Healthcare, IT & Telecom, Travel & Hospitality, and Others.

  • The BFSI segment dominated the market in 2021 and accounted for over 25.0% of the global revenue. The growth of the segment can be attributed to the growing amount of customer interaction owing to digitization in the BFSI industry.
  • The consumer goods & retail segment is anticipated to register a promising CAGR over the forecast period. Shift in consumer demands and buying behavior are reshaping the consumer goods & retail segment. The increasing use of online channels for buying consumer goods is fueling the demand for CCaaS solutions in the consumer goods & retail industry.

 

Contact Center As A Service Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

 

Key Companies Profile & Market Share Insights

The competitive landscape of the market is highly fragmented and characterized by the presence of a large number of players. Vendors are focusing on providing fully scalable, flexible CCaaS offerings through a monthly subscription to enable quick deployment of new functions, channels, and features and effectively deliver a lower Total Cost of Ownership (TCO). Moreover, market players are focusing on offering better agent assistance solutions and services.

Some prominent players in the global contact center as a service market include

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

 

Order a free sample PDF of the Contact Center As A Service Market Intelligence Study, published by Grand View Research.

 

 

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