Contact Center as a Service (CCaaS) Market
Rising adoption of contact center technologies to maintain better business continuity & streamline customer interactions to provide higher customer satisfaction
PORTLAND, PORTLAND, OR, UNITED STATE, October 10, 2022 /EINPresswire.com/ — Allied Market Research published a new report, titled, “Contact Center as a Service (CCaaS) Market Drivers Shaping Future Growth, Revenue USD 19.8 Billion by 2031 | CAGR 16.8% .” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
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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 (CcaaS) market. However, concerns regarding security, possibility of fraud cases, and activity with the contact center as service hinder the market growth. On the contrary, surge in need for application programming interface-based contact centers would open new opportunities in the future.
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By organization size, the large enterprise segment held the largest share in 2021, contributing to more than two-thirds of the global contact center as a service (CcaaS) market, as large corporations may profit greatly from CcaaS technology. CcaaS frees large businesses from worries about the technological issues of processing their enormous amounts of data and allows the workforce of large businesses to work with more flexible schedules. However, the SME’s segment is projected to manifest the highest CAGR of 18.4% during the forecast period.
By offerings, the services segment is estimated to portray the highest CAGR of 21.9% during the forecast period. However, the solutions segment held the largest share in 2021, accounting for more than 90% of the global contact center as a service (CcaaS) market. Users may transfer expensive IT resources to the cloud due to commercial solutions for cloud computing like Amazon Web Services and Microsoft Azure, which require better performing customer feedback management solutions. This drives the growth of the segment.
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By region, the global contact center as a service (CcaaS) market across North America held the largest share in 2021, accounting for more than half of the market, and is projected to maintain its leadership position during the forecast period. This is due to growth of IT sector and adoption of latest technologies in the region. However, the market across Asia-Pacific is expected to register the highest CAGR of 19.5% during the forecast period.
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, Oracle 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.
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Covid-19 Scenario:
• 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 fulfill their need for digitization.
• Several organizations established cloud-based services such as video conferencing, project management, and variety of communications tools that are delivered as a service.
• CcaaS model options helped companies in improving business efficiency and customer experience during the pandemic.
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