Contact Center as a Service (CCaaS)

Contact Center as a Service (CCaaS) is a software deployment model that enables companies to only purchase the technology they need and is commonly operated by a vendor to reduce IT, integration, and support costs. CCaaS solutions are most commonly deployed as a cloud-based CX solution in contact centers, but in some instances, an on-premise CCaaS software solution is more ideal.

The global contact center as a service (CCaaS) market share is expected to witness considerable growth, owing to increase in demand for elevated customer feedback management, especially in North America Asia-Pacific and Europe, due to rise in demand for sophisticated cloud computing solutions such as contact center as a service (CCaaS) in these regions

Increase in demand for enhanced and seamless end-to-end customer experience and decline in operating cost due to adoption of CcaaS have boosted the growth of the global contact center as a service market.

As per a report, the global contact center as a service industry was pegged at $4.3 billion in 2021, and is expected to reach $19.8 billion by 2031, growing at a CAGR of 16.8% from 2022 to 2031.

Major determinants of the market growth are, increase in demand for enhanced and seamless end-to-end customer experience and decline in operating cost due to adoption of CcaaS have boosted the growth of the global contact center as a service market.

However, concerns regarding security, possibility of fraud cases, and activity with the contact centre as service hinder the market growth. On the contrary, surge in need for application programming interface-based contact centres would open new opportunities in the future.

The Covid-19 pandemic boosted the demand for cutting-edge technologies such as cloud computing, customer relation management solutions, and artificial intelligence. Businesses across the globe had to embrace such innovations to fulfil their needs for digitalization.

The healthcare segment is expected to showcase the highest CAGR through 2031. The report says, the healthcare segment is projected to manifest the highest CAGR of 20.4% during the forecast period, due to use of automated machine technologies and adoption of telemedicine and e-prescriptions, computer telephony integration, customer collaboration, reporting, and analytics.

The major market players include Accenture LLP, Alphabet Inc., AWS, Cisco Systems, IBM Corporation, Microsoft Corporation and Oracle Corporation offering global contact center as a service (CcaaS) market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.

Dr. Deepak Kumar Sahu, President & CEO, VARINDIA