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SAN FRANCISCO, July 8, 2021 / PRNewswire / – The World contact center as a service market size is expected reach $ 10.80 billion by 2028, registering a 15.7% CAGR from 2021 to 2028, according to a new report from Grand View Research, Inc. The promising future growth prospects of the market can be attributed to the growing need of companies to improve the customer experience. To set themselves apart from the competition, companies around the world place great importance on maintaining a quality customer experience by providing accurate and timely feedback to their consumers.
Insights and key results:
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Customer Collaboration Solutions segment is expected to experience the fastest CAGR during the forecast period due to the growing focus of businesses on improving customer satisfaction by resolving their issues and responding to their calls promptly. .
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Managed Services Segment Expected to Record Fastest CAGR from 2021-2028
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Growing need for IT operations monitoring, data backup and recovery, technical support and security is expected to drive demand for managed services
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The consumer goods and retail end-use segment is expected to offer promising growth opportunities to the market
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Growing use of online channels for purchasing consumer goods amid COVID-19 pandemic is expected to drive demand for CCaaS in the consumer goods and retail sector
Read the 150-page market research report, “Contact Center as a Service Market Size, Share and Trend Analysis Report by Business Size (Large, SME), End Use (BFSI, Consumer Goods & Retail, Care healthcare), by service, by solution, by region and segment forecast, 2021 – 2028 ‘‘, by Grand View Research.
Businesses have started to realize the value of a cloud-based customer contact center solution. The Contact Center as a Service (CCaaS) industry is expected to experience significant growth thanks to the opportunities created by the migration of the global workforce to the cloud. According to a Microsoft study, around 66% of businesses worldwide use at least three communication channels to effectively connect with brands.
Growing competition in the contact center industry for customer loyalty is expected to fuel the adoption of CCaaS. These cloud-based services offer solutions and tools that would help representatives while dealing with their customers. In addition, these services help representatives to provide real-time support and possibly strengthen their customer management skills.
The COVID-19 pandemic is expected to have a positive impact on the market. The use of CCaaS has enabled organizations to adopt remote working models and continue to do business despite the varying degrees of movement restrictions put in place by regional and national governing bodies.. However, the growing concerns for data security are expected to hamper the growth of the market during the forecast period. In addition, CCaaS solutions manage huge volumes of data and critical consumer financial data, which could be exposed to malicious attacks.
North America accounted for the highest revenue share in 2020 and is expected to maintain the leading position throughout the forecast period. On the other hand, Asia Pacific is expected to be the fastest growing regional market over the forecast years owing to rapid industrial expansion and development in emerging economies in the region, such as China and India.
Grand View Research has segmented the global contact center as a service market based on solution, service, company size, end use, and region:
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CCaaS Solution Outlook (Revenue, USD Million, 2016-2028)
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CCaaS Service Outlook (Revenue, USD Million, 2016 – 2028)
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CCaaS Company Size Outlook (Revenue, USD Million, 2016 – 2028)
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CCaaS End-Use Outlook (Revenue, USD Million, 2016 – 2028)
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CCaaS Regional Outlook (Revenue, USD Million, 2016 – 2028)
List of key players in Contact Center as a Service (CCaaS) Market
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Alcatel Lucent Enterprise
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Avaya, Inc.
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Cisco Systems, Inc.
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Enghouse Interactive, Inc.
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Five9, Inc.
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Genesys
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Microsoft Corp.
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NICE in contact
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SAP SE
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Unify, Inc.
Browse Grand View Research’s coverage on Global Next Generation Technology Industry:
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Cloud Managed Services Market – The global cloud managed services market size has been estimated to be $ 23.19 billion in 2016 and is expected to increase at an expected CAGR of 15.4% over the forecast period.
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Managed Services Marketplace – The size of the global managed services market has been estimated to be $ 215.14 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 12.7% from 2021 to 2028.
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Contact Center Intelligence Market – The size of the global contact center intelligence market has been estimated to be $ 1.07 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 23.5% from 2020 to 2027.
Go to Grand View Compass, our intuitive BI market research database of over 10,000 reports
About Grand View Search
Grand View Research, a United States-based market research and consulting company, provides syndicated and personalized research reports and consulting services. Checked in California and headquartered at San Francisco, the company has more than 425 analysts and consultants, adding more than 1,200 market research reports to its extensive database each year. These reports provide in-depth analysis of 46 industries in 25 major countries around the world. Using an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and assess opportunities as they arise.
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SOURCE Grand View Research, Inc.
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