According to forecasts, the market for contact centers as a service would be worth US$ 4.5 billion in 2022 and US$ 16 billion by 2032, a CAGR of 13.52% over that time. The increased usage of cutting-edge contact center technologies, which organize client connections to improve customer experiences and the market’s functionality, may be the cause of the market’s growth.
Market participants are creating cloud contact centers to enhance operational performance for users, and it is projected that this will propel market expansion throughout the anticipated time frame. The market for contact centers as a service has expanded as a result of the rising popularity of cloud-based software as a service and AI-powered chatbots. An organization is introducing application programming interfaces.
Businesses may manage their customer interactions using the cloud thanks to the expanding Contact Centre as a Service (CCaaS) sector. Call routing, automatic call distribution, interactive voice response, and CRM interfaces are just a few of the features that CCaaS platforms provide.
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Businesses that require a high degree of customer service or those with significant call volumes, such as e-commerce corporations, financial institutions, and healthcare organizations, frequently employ CCaaS platforms. Several advantages are provided by CCaaS platforms, such as the capacity to scale up or down rapidly and simply, save expenses, and enhance customer support.
The most well-known CCaaS platforms are Genesys Cloud, Five9, and Amazon Connect. These platforms provide a variety of features and fee structures to accommodate the requirements of companies of different sizes.
The need for organizations to enhance their customer service offerings, the rising need for flexible and remote work solutions, and other reasons all contribute to the growth of the CCaaS market. Businesses may manage customer contacts across a variety of channels, such as voice, chat, email, and social media, using CCaaS platforms, resulting in a seamless and consistent customer experience.
Competition Analysis
Key players in the global contact center as a service market include NICE, Evolve IP, Luware AG, 8×8, Talkdesk, Cisco Systems, and others. Recent developments in the industry include:
- In 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 offers in determining and scoring agent behavior to boost customer satisfaction and enhance sales opportunity identification. The solution forms an integral part of NICE’s CXone platform
Key Segments Profiled in the Global Contact Center as a Service Market
Contact Center as a Service Market by Function:
- Interactive Voice Response (IVR) Contact Center as a Service
- Multichannel Contact Center as a Service
- Automatic Call Distribution Contact Center as a Service
- Computer Telephony Integration (CTI) Contact Center as a Service
- Reporting and Analytics Contact Center as a Service
- Workforce Optimization Contact Center as a Service
- Customer Collaboration Contact Center as a Service
- Other Contact Center as a Service Functions
Contact Center as a Service Market by Enterprise Size:
- Contact Center as a Service for SMEs
- Contact Center as a Service for Large Enterprises
Contact Center as a Service Market by Industry:
- Contact Center as a Service in BFSI
- Contact Center as a Service in IT and Telecommunications
- Contact Center as a Service in Government
- Contact Center as a Service in Healthcare
- Contact Center as a Service in Consumer Goods and Retail
- Contact Center as a Service in Travel and Hospitality
- Contact Center as a Service in Media and Entertainment
- Contact Center as a Service in Other Industries
Table of Content
Executive Summary
1.1. Global Market Overview
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. FMI Analysis and Recommendations
Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Introduction and Definition
Market Background and Foundation Data Points
3.1. Need of the Hour for Industries
3.2. – Strategic Priorities
3.3. Life Cycle Stage
3.4. Importance of Technology
3.5. Use Cases of Contact Center as a Service
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