Contact Center As A Service Market Top Players are Cisco Systems, Inc. and Five9, Inc.

Contact Center As A Service Industry Overview

The global contact center as a service market size was valued at USD 4.43 billion in 2022 and is expected to register a compound annual growth rate (CAGR) of 19.1% from 2023 to 2030. The market growth can be attributed to the rising adoption of advanced contact center technologies to maintain better business continuity and streamline customer interactions to provide higher customer satisfaction. Moreover, the incorporation of Artificial Intelligence (AI) and Machine Learning (ML) technologies in contact center solutions is expected to create more demand for the contact center as a service (CCaaS) market over the forecast period.

Numerous players are developing cloud contact centers to enhance operational functionality and flexibility for users. For instance, in April 2020, ServiceNow announced the launch of the Amazon Connect Integration with Cloud Call Center, a cloud contact center solution that offers employees better IT support functionalities. Amazon Connect Integration with Cloud Call Center provides native integration with AWS’s natural language AI technology, Comprehend and Transcribe, Lex with ServiceNow.’s IT workflow, and the service capabilities.

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Various companies are also focusing on providing artificial intelligence-based cloud contact center solutions to increase accuracy and meet the changing customer needs. For instance, in October 2021, Automation Anywhere, Inc., an automation technology provider, announced the launch of the Automation Anywhere for Contact Centers, an AI-driven, cloud-native solution that facilitates businesses to provide faster customer services. Automation Anywhere for Contact Centers enables agents to be more efficient in finding, and updating the information as well as executing the client transactions quickly to deliver faster services.

Organizations that do not provide timely responses to customer emails experience potential loss of customers. Hence, it has become essential for organizations to deliver a better customer experience across all channels. Improved customer experience provides better support to the entire customer journey, from the first point of contact to becoming a loyal customer. Customer experience is an integral part of Customer Relationship Management (CRM) and is important because the customer who has a positive experience with the business is more likely to become a loyal customer.

Organizations can save maintenance service charges and hardware installation expenses by implementing the contact center as a service solution. Additionally, cloud-based contact center software does not incur any IT services and components expenditure. Cloud-based services also help decrease downtime and reduce power consumption. Furthermore, they can be offered in a subscription model, allowing companies to select the model according to their requirements, leading to cost savings. Companies with limited funds adopt cloud-based contact centers, thus boosting the adoption of these systems in small and medium enterprises. However, as contact centers store critical customer information such as payment card numbers and health information, increasing data security concerns are expected to hinder the market growth.

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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:

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

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

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

• Large Enterprises
• Small & Medium Enterprises

Contact Center As A Service End Use Outlook (Revenue, USD Million, 2017 - 2030)

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

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

• North America
• Europe
• Asia Pacific
• Latin America
• MEA

Market Share Insights:

July 2020: NICE LTD announced the launch of Real-Time Interaction Guidance, a solution powered by the company’s ENLIGHTEN AI platform. Based on predictive behavioral models, the solution helps in determining and scoring agent behavior to increase customer satisfaction and improve sales opportunity identification. This solution forms an integral part of NICE's CXone platform.

Key Companies profiled:

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.

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