The Contact Center as a Service (CCaaS) market was worth $4.3 billion in 2021, and is estimated to reach $19.8 billion by 2031, growing at a CAGR of 16.8% between 2022 and 2031.
That’s according to a new report published by Allied Market Research, Contact Center as a Service (CCaaS) Market, which says the automatic call distribution segment was the highest revenue contributor to the market, worth $854.7 million in 2021, and is estimated to reach $3,321.7 million by 2031, with a CAGR of 14.7%.
In short, the COVID-19 pandemic is anticipated to have a favourable effect on the contact centre as a service (CCaaS) business worldwide.
The demand for CCaaS has increased owing to increased feedback management, and suppliers cost associated with the setup of offline contact centres. Moreover, the growing decency upon Internet and digitalization globally started to deploy CCaaS solutions, and thus is expected to drive the growth of the Contact Center as a Service Market analysis post-pandemic.
Region-wise, North America holds a significant share in the global CCaaS market, owing to the presence of prime players in this region. In North America authorities have expressed a strong enthusiasm in implementing contact center cloud solutions. Major corporations that are committed to delivering superior customer service are widespread in the area, which boosts the growth of the market.
The collaboration to provide cloud-based contact center solutions to the Canadian market was announced on April 21, 2022 by Five9, Inc., a global provider of intelligent cloud contact centers, and Deloitte Canada, an independent company operating under the Deloitte name. Collaboration is anticipated to significantly improve customer experience as Five9 continues to expand its worldwide footprint and link the success of Deloitte Canada and Five9 with Canadian businesses to fulfil the rise in need for digital age networking and CCaaS.
Other key findings:-
- The automatic call distribution segment was the highest Contact Center as a Service Market Share contributor, with $854.7 million in 2021, and is estimated to reach $3,321.7 million by 2031, with a CAGR of 14.7%.
- The integration and deployment segment was the highest revenue contributor to the market, with $100.4 million in 2021, and is estimated to reach $798.5 million by 2031, with a CAGR of 23.1%
- The large enterprise segment was the highest revenue contributor to the market, with $2,880.8 million in 2021, and is expected to continue its growth during Contact Center as a Service Market Forecast period.
- North America was the highest revenue contributor, accounting for $2,378.8 million in 2021, and is estimated to reach $9,353.9 million by 2031, with a CAGR of 14.9%.
- Asia-Pacific is estimated to reach $5,517.4 million by 2031, at a significant CAGR of 19.5%.
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.
