Contact Center As A Service Market to be Worth $17.12 Billion by 2030: Grand View Research, Inc.

SAN FRANCISCO, May 3, 2022 /PRNewswire/ -- 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.

Key Insights & Findings from the report:

• In terms of solution, the customer collaboration segment is expected to witness the highest CAGR over the forecast period. This can be attributed to the rising focus of businesses on offering enhanced customer satisfaction by solving their issues and promptly attending their calls.
• In terms of service, the managed services segment is likely to register the highest CAGR over the forecast period. The increasing need for monitoring IT operations, data backup and recovery, help desk support, and security is expected to drive the demand for managed services over the forecast period.
• In terms of enterprise size, the small & medium enterprises segment is likely to register the highest CAGR. Convenient service delivery and the low cost of investment related to CCaaS is boosting its adoption across small & medium enterprises.
• In terms of end use, the consumer goods & retail segment is expected to provide promising growth opportunities to the market. The increasing usage of online channels for purchasing consumer goods amidst the COVID-19 pandemic is expected to drive the demand for contact center as a service in the consumer goods & retail industry.
• The North American regional market dominated in 2021 and is likely to present promising growth opportunities for the market over the forecast period as well. The Asia Pacific regional market is expected to witness the highest growth owing to the increasing industrial expansion and development in the emerging economies of the region.

Read 150-page market research report, "Contact Center As A Service Market Size, Share & Trends Analysis Report By Solution, By Service, By Enterprise Size, By End Use, By Region And Segment Forecasts, 2022 - 2030", published by Grand View Research.

Contact Center As A Service Market Growth & Trends

Businesses are widely adopting cloud-based contact centers owing to benefits such as reduced integration, support, and IT-related costs, which could help drive the growth of the market. Moreover, numerous players are developing cloud contact centers to enhance operational functionality and flexibility for users. For instance, in January 2021, Infosys announced the launch of the Infosys Cortex, a customer engagement platform that leverages the technology from Genesys, a cloud contact center solutions provider, along with Contact Center AI and analytics services from Google Cloud.

Numerous CCaaS providers are entering into partnerships with communication companies to deploy contact center software and expand their reach. For instance, in April 2021, Talkdesk announced a partnership with Welltel, a communication and IT company based in Ireland. Under the partnership, Welltel would offer Talkdesk cloud contact center solutions to Irish companies.

The COVID-19 pandemic is expected to have a positive impact on the market. As the pandemic situation continues, cloud-hosted contact centers are gaining more traction as it provides better levels of reliability, availability, and disaster recovery because agents can access the tools they need to perform the job from any place. Moreover, cloud-hosted contact centers provide better workforce elasticity for easily scalable solutions and faster deployment of new capabilities and technology solutions. However, the increasing concerns about data security are expected to hamper the market growth over the forecast period. CCaaS solutions handle huge data volumes and critical financial data of consumers, which could be at risk of malicious attacks.

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 Market Outlook (Revenue, USD Million, 2017 - 2030)

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

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

• Large Enterprises
• Small & Medium Enterprises

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

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

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

• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• Asia Pacific
• China
• India
• Japan
• Latin America
• Brazil
• Middle East and Africa

List of Key Players of Contact Center As A Service Market

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

Check out more related studies published by Grand View Research:

• Contact Center Analytics Market - The global contact center analytics market size is expected to reach USD 5.75 billion by 2030, expanding at a CAGR of 19.3% over the forecast period, according to a new report by Grand View Research, Inc. The growing need among contact center companies to track and measure business performance at each level is expected to drive market growth. Contact center analytics also enables companies to reduce overhead and operational expenses. The funding raised by contact center service providers is also expected to drive market growth. For instance, in May 2021, ASAPP, Inc., an Artificial Intelligence (AI) research-driven customer experience company, announced that it raised USD 120 million. The company would use this funding to expand its portfolio and market reach.
• Contact Center Software Market - The global contact center software market size is expected to reach USD 149.58 billion by 2030, growing at a CAGR of 23.2% over the forecast period, according to a new report by Grand View Research, Inc. Contact center solutions help agents in handling customer interactions more effectively, augmenting sales, and delivering a better service experience. Hence, several organizations are adopting contact center solutions to support business growth, thereby driving the market. The strong emphasis businesses are putting on leveraging the advances in the latest technologies and integrating Artificial Intelligence (AI) and machine learning into their business processes to enhance customer relationship management is also driving the adoption of contact center solutions.
• BFSI Contact Center Analytics Market - The global BFSI contact center analytics market size is expected to reach USD 842.5 million by 2028, registering at a CAGR of 16.3% from 2021 to 2028, according to a new report by Grand View Research, Inc. The BFSI sector increasingly demands contact center analytic solutions to analyze customer data and improve customer experience. The increasing efforts of BFSI firms to improve their operational performance and address customer requirements is also one of the major factors driving the market growth.

Browse through Grand View Research's Next Generation Technologies Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
Web: https://www.grandviewresearch.com
Grand View Compass | Grand View Pipeline
Follow Us: LinkedIn | Twitter

Logo: https://mma.prnewswire.com/media/661327/Grand_View_Research_Logo.jpg