Contact Center As A Service Market Analysis Report By Enterprise Size, By End Use, By Service, By Solution, By Region And Segment Forecasts From 2021 To 2028

Synopsis

The global contact center as a service market was prized by USD 3.48 billion in 2020. It is estimated to witness a 15.7% CAGR from 2021 to 2028.

Drivers

The potential development projections of businesses mainly rely on client fulfillment. When the businesses become conscious regarding this and concentrate on the necessity to improve client experience, the need for superior contact center services is anticipated to go up, inspiring the market throughout the forecast period.

The contact center as a service is a cloud-sourced operation form, which permits the business to make use of a contact center supplier’s client experience resolution, to offer appropriate services to its consumers. It permits businesses, to efficiently make use of a contact center supplier’s software and merely pay for the expertise they frequently require, thus dropping the necessity for the backing of in-house IT.

The contact center as a service (CCaaS) stage presents scalability like functional business requirements. The exercise of the contact center as a service form permits for the speedy employment of the new-fangled functions, features, as well as channels, based on altering necessities of the business.

The appearance of Artificial Intelligence (AI) and Machine Learning (ML), in addition to the following infiltration of these tools in contact center businesses, are anticipated to generate development openings for the market.

The businesses having the right of entry to AI are likely to obtain a greater rise in per year revenue. Besides, contact centers as a service offer businesses, by way of simple admittance to AI technology. These features are estimated to generate expansion prospects for the contact center as a service market.

Restraints

On the other hand, rising concerns about the safety of the information are estimated to hamper the expansion of the market, during the forecast period. Contact centers accumulate important information of the client, like health information, the numbers of the payment card, and take an excessive threat of internal plus external violation and hacking of the information. Furthermore, cloud computing countenances challenges of outside safety due to the incorporation of virtualization, operating systems, databases, transaction management, plus networks, among others. These issues are expected to hinder the expansion of the market.

Effect of Covid-19

The eruption of the Covid-19 pandemic is likely to contain an optimistic influence on the contact center as a service (CCaaS) market. Its model offers the ability for working from distant locations. The business houses are, gradually more, taking on the cloud-sourced resolutions and are promoting work-from-home strategy, to efficiently uphold the client experience. Besides, rising online dealings plus the growth in online buying, for the period of the Covid-19 disaster, have augmented the necessity for the execution of cloud-sourced resolutions.

Enterprise Size Insight

The large enterprise's sector held, above 56.0% share of the global revenue and led the CCaaS market, in 2020. Technical progressions are inspiring the demand for contact centers as a service, through large enterprises.

The Small & Medium Enterprises (SMEs) sector is likely to record the highest CAGR, during the forecast period. The profits, like low down investment expenditure plus suitable deliverance of the services, is increasing the acceptance of contact center as service resolutions, through Small & Medium Enterprises (SMEs).

The need for customer service spokespersons and committed IT staff in small & medium enterprises (SMEs) is, furthermore, powering the expansion of the market. These resolutions assist small & medium enterprises, to improve the general consumer experience as well as increase the efficiency of the representative.

Service Insight

In 2020, the integration & deployment subdivision held, above 42.0% share of the global revenue and led the contact center as a service market. The fast speed of digitalization through the industries is forcing businesses to concentrate on upgrading and continuous makeover of their IT infrastructure. This movement is generating hopeful expansion openings, for the integration & deployment subdivision, within the contact center business.

The managed services division is likely to record the highest speed of enlargement, during the forecast period. The necessity to make simpler the administration of composite systems as well as incessantly provide process excellence, between contact centers, is anticipated to push the acceptance of administered services, all through the forecast period.

Solution Insight

The automatic call distribution section held the biggest, above 22.0% revenue share of the market for contact center as a service, in 2020. The automatic call distribution resolution is extensively accepted in contact centers, since; it assists them to deal with a big amount of inbound calls. This resolution efficiently direct arriving calls to contact center staff otherwise agents, having exact proficiency. This assists businesses in offering a superior client experience.

The customer collaboration section is expected to record the highest CAGR, during the forecast period. Customer collaboration solutions convert plain communication of the client phone call into well-organized communications, which utilizes voice, email, web, and video to offer exclusive and custom-made services.

The rising necessity to collect and utilize client response to make better service otherwise product offerings is anticipated to power the enlargement of the segment throughout the forecast period.

End-Use Insight

The BFSI division held the biggest, above 25.0% revenue share, and led the contact center as a service market, in 2020. The enlargement of the sector can be credited to the rising quantity of client communication, due to the digitization in the BFSI industry.

The consumer goods & retail section is expected to record the highest CAGR, for the duration of the forecast. The rising utilization of online means for purchasing end-user merchandise is powering the demand for contact centers as a service resolution, within the consumer goods & retail business.

Regional Insight

In 2020, North America held more than 36.0% revenue share of the market, and it was the biggest regional market. The fast speed of the digital revolution along with rising demand for Omnichannel service delivery, in addition to the acceptance of new-fangled technologies, like AI, are supporting the acquirement of future-oriented technology as well as funds, within the region. Several businesses, within the region, are changing to cloud-sourced services. This is anticipated to generate, development opportunities for the local market, during the forecast period.

The Asia Pacific is projected to be the highest emergent local market, during the forecast period. Within the region, the e-commerce business is creating a considerable contribution to the increasing demand for contact centers as service resolutions in contact centers. The hopeful speed of industrialized growth, in addition to enlargement in the region, is, moreover, expected to generate expansion openings for the local market.

Besides, several small & medium enterprises (SMEs), within the region, are implementing contact centers as a service solution, due to the diverse benefits presented, together with better client experience, lessening the cost of function and enhancement in return on investment (ROI).

Companies

The nature of the market is disjointed via the existence of a greater number of companies and is having aggressive background. The companies are funding for the enlargement of Omnichannel resolutions designed for a variety of end-user businesses, like IT & telecom, government, healthcare, and BFSI.

Furthermore, the companies are giving financial support for the development of the innovative product and its presentation in the market to enlarge their client base as well as make stronger their business position.

Some of the companies for contact center as a service market are:

    • Unify, Inc.
    • NICE in Contact
    • Genesys
    • Enghouse Interactive, Inc.
    • Avaya, Inc.
    • SAP SE
    • Microsoft Corp.
    • Five9, Inc.
    • Cisco Systems, Inc.
    • Alcatel Lucent Enterprise

Report Scope

Segments Covered in the Report

The report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2028. For this study, Million Insights has segmented the global contact center as a service market report based on solution, service, enterprise size, end-use, and region:

• Solution Outlook (Revenue, USD Million, 2016 - 2028)
    • Automatic Call Distribution
    • Call Recording
    • Computer Telephony Integration
    • Customer Collaboration
    • Dialer
    • Interactive Voice Response
    • Reporting & Analytics
    • Workforce Optimization
    • Others

• Service Outlook (Revenue, USD Million, 2016 - 2028)
    • Integration & Deployment
    • Support & Maintenance
    • Training & Consulting
    • Managed Services

• Enterprise Size Outlook (Revenue, USD Million, 2016 - 2028)
    • Large Enterprises
    • Small & Medium Enterprises (SMEs)

• End-use Outlook (Revenue, USD Million, 2016 - 2028)
    • BFSI
    • Consumer Goods & Retail
    • Government
    • Healthcare
    • IT & Telecom
    • Travel & Hospitality
    • Others

• Regional Outlook (Revenue, USD Million, 2016 - 2028)
    • North America
        • U.S.
        • Canada
    • Europe
        • Germany
        • U.K.
    • The Asia Pacific
        • China
        • India
        • Japan
    • Latin America
        • Brazil
    • Middle East & Africa