The global contact centre as a service market size is expected to reach $17,12-billion by 2030, registering a CAGR of 19,1% from 2023 to 2030, according to a new report by Grand View Research.
The market growth can be attributed to the rising adoption of cloud-based contact centre services by enterprises to offer better flexibility and customer convenience. Many organisations are adopting business intelligence (BI) technology, as it provides them with a holistic view of agent performance and helps measure how they are achieving organisational goals.
Businesses are widely adopting cloud-based contact centres owing to benefits such as reduced integration, support, and IT-related costs, which could help drive the growth of the Contact Centre as a Service (CCaaS) market. Moreover, numerous players are developing cloud contact centres to enhance operational functionality and flexibility for users.
Numerous CCaaS providers are entering into partnerships with communication companies to deploy contact centre software and expand their reach.
The Covid-19 pandemic is expected to have a positive impact on the market. As the pandemic situation continues, cloud-hosted contact centres 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 centres provide better workforce elasticity for easily scalable solutions and faster deployment of new capabilities and technology solutions.
However, the increasing concerns of 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.
Highlights of the Contact Centre As A Service Market Report include:
* In terms of solution, the customer collaboration segment is expected to witness the highest Compound Annual Growth Rate (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 and 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 and retail segment is expected to provide promising growth opportunities to the market due to the increasing focus on enhancing customer experience, improving sales and marketing effectiveness, and enabling seamless omnichannel customer interactions in the highly competitive retail industry.
* The North American regional market dominated in 2022 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 emerging economies of the region.