COVID-19 has resulted in providing boost in terms of demand for contact center as a service (CCaaS) market.
PORTLAND, PORTLAND, OR, UNITED STATES, November 20, 2023 /EINPresswire.com/ — In a recent report by Allied Market Research titled “Contact Center as a Service (CCaaS) Market,” it was revealed that the CCaaS market size reached $4.3 billion in 2021 and is projected to grow to $19.8 billion by 2031, at a compound annual growth rate (CAGR) of 16.8% from 2022 to 2031.
CCaaS allows businesses to subscribe to cloud-based contact center platforms or software on a monthly or yearly basis. While commonly associated with customer support, contact centers also cater to various audiences, including employees and students. The market is being driven by the increasing demand for seamless customer service and the widespread adoption of cloud-based contact centers, facilitated by the integration of application programming interfaces (APIs) for centralized data access.
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Factors contributing to market growth include omni-channel communication, the use of digital technologies like artificial intelligence, and automation of repetitive tasks. The automatic call distribution segment was the leading revenue contributor in 2021, reaching $854.7 million and expected to reach $3,321.7 million by 2031 with a CAGR of 14.7%. The “others” segment is forecasted to reach $2,653.2 million by 2031, with a significant CAGR of 15.6%.
The COVID-19 pandemic has had a positive impact on the CCaaS market, as remote work became more prevalent, increasing the demand for CCaaS solutions. The pandemic has accelerated digitalization and internet dependency globally, further driving the adoption of CCaaS solutions.
North America holds a substantial share in the global CCaaS market, attributed to the presence of key players and the enthusiasm of authorities in adopting cloud solutions for contact centers. Notably, Five9, Inc. and Deloitte Canada announced a collaboration on April 21, 2022, to provide cloud-based contact center solutions to the Canadian market. This collaboration aims to enhance customer experience, aligning with the increasing demand for digital networking and CCaaS in the Canadian business landscape.
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The key players profiled in the Contact Center as a Service Industry report include Accenture LLP, Alphabet Inc. (Google Corporation), Amazon.com Inc. (AWS), AT&T Inc., Cisco Systems, IBM Corporation, Microsoft Corporation, Orcale Corporation and SAP SE. Market players have adopted various strategies, such as product launch, collaboration & partnership, joint venture, and acquisition, to expand their foothold in the Contact Center as a Service (CCaaS) market.
Contact Center as a Service (CCaaS) is a model that provides businesses with access to a comprehensive suite of customer service and engagement tools through a cloud-based platform. In this service model, companies can subscribe to the necessary contact center software and features on a monthly or yearly basis, rather than investing in and maintaining their own on-premises infrastructure.
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.
SIGNIFICANT ADVANTAGES FOR STAKEHOLDERS:
• This investigation provides a detailed portrayal of the Contact Center as a Service market size, highlighting prevailing trends and anticipating future growth in the Contact Center as a Service Market.
• The comprehensive Contact Center as a Service Market Analysis aims to comprehend lucrative trends, contributing to a more robust market position.
• The report offers insights into key drivers, constraints, and opportunities.
• Quantitative analysis of the current CCaaS Industry forecast from 2021 to 2031 is conducted to assess financial competency, accompanied by a thorough analysis of Contact Center as a Service Market Share among key players.
• Porter’s five forces analysis demonstrates the influence of buyers and suppliers during the Contact Center as a Service Market Forecast period.
• Market share data for key vendors and trends within the Contact Center as a Service Industry are incorporated in the report
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