The global contact center as a service market is set to gain traction from the rising
adoption of smart self-service solutions by prominent companies to gain extra information
and time beforehand. Also, the surging integration of artificial intelligence
(AI) capabilities with Interactive Voice Response (IVR) is anticipated to affect
growth positively. Fortune Business
Insights™ presented this information in a new report, titled, “Contact
Center as a Service Market Size, Share & Industry 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 (Large
Enterprises and Small & Medium Enterprises), By Industry (BFSI, IT and
Telecommunications, Government, Healthcare, Consumer Goods & Retail, Travel
& Hospitality, Media & Entertainment, and Others), and Regional
Forecast, 2020-2027.” The report further states that the global contact
center as a service (CCaaS) market size was USD 3.07 billion in 2019 and is projected to reach USD 10.06 billion by 2027, exhibiting a
CAGR of 16.1% during the forecast period.
A list of the prominent contact
center as a service providers operating in the global market:
- Cisco
Systems, Inc (California, United States)
- Genesys
(California, United States)
- Five9
(California, United States)
- 8x8, Inc.
(California, United States)
- NICE Ltd.
(Ra'anana, Israel)
- 3CLogic
(Maryland, United States)
- Oracle
Corporation (California, United States)
- Avaya Inc.
(California, United States)
- Mitel
Networks Corporation (Ottawa, Canada)
- Evolve IP, LLC. (Pennsylvania, United States)
 |
| Get Sample PDF Brochure |
This Report Answers the Following Questions:
- Which
segment is set to lead in the coming years?
- What are the
market dynamics, growth drivers, and hindrances?
- How will
organizations surge sales of contact center as a service solution?
- What are the current, forthcoming, and previous sizes of the market?
Drivers & Restraints-
Urgent Need to Provide Innovative Customer
Service will Bolster Growth
Nowadays
enterprises are trying to maintain a smooth customer experience by delivering
timely and authentic feedback. Customer satisfaction is considered to be a significant
aspect of the future business of enterprises. CCaaS helps agents to handle
clients efficiently by delivering real-time data based on their queries. Agents
can also look at the customer’s purchase history to quickly resolve their
issues. This factor is expected to bolster the contact center as a service
market growth in the near future. However, CCaaS often stores confidential and
personal information including card numbers and health records. Hence, the risk
of data breaches and malicious attacks is high. It may hamper growth.
https://www.fortunebusinessinsights.com/contact-center-as-a-service-ccaas-market-104160
Regional Insights-
North America to Remain at the Forefront
Fueled by Increasing Number of Small & Medium Enterprises
Geographically,
North America procured USD 1.28 billion in terms of revenue in 2019. The
increasing shift of various companies towards cloud-based services would drive
growth. Besides, the U.S. houses a large number of small and medium
enterprises, which, in turn, is set to propel growth in this region. In 2019,
the country generated 9.5% share in the multichannel segment.
Europe, on
the other hand, is set to remain in the second position stoked by the major
contributions by France, Germany, and the U.K. The Federal Statistical Office
of Germany declared that Germany’s GDP comprises 69% of the domestic service
sector. Asia Pacific is expected to grow rapidly owing to the increasing usage
of CCaaS because of its high scalability.
Competitive Landscape-
Key Players Aim to Co-develop Novel Solutions
by Engaging in Partnerships
The market
for CCaaS contains various companies that are mainly focusing on providing
state-of-the-art customer services to renowned enterprises. Most of them are
engaging in the partnership strategy to co-develop new products.
Industry Developments-
- August 2020:
Evolve IP, LLC integrated its omnichannel Evolve Contact Suite, its virtual
Workspaces solution and Microsoft Teams. This blend would enable agents to
support prospects and clients anywhere on any device.
- June 2020:
3CLogic joined hands with Microsoft Teams to improve its enterprise
communication solution. This partnership would aid the former to deliver smooth
communication between back offices and on-line agents. It would further enhance
the customer service.
Read Press Release:
No comments:
Post a Comment