Contact Center as a Service Market Overview:
According to MRFR analysis, the global Contact Center as a Service market is expected to register a CAGR of 17.9%from 2021 to 2030 and hold a value of over USD 2.23 Billion by 2020.
Cloud-based software applications, known as Contact Centers as a Service (CCaaS), are used by businesses to manage customer interactions while keeping everything online instead of using the on-premises infrastructure.
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Key Players:
Key Companies in the Contact Center as a Service market includes,
- Alcatel Lucent Enterprise
- Avaya, Inc
- Cisco Systems, Inc.
- Enghouse Interactive, Inc.
- Five9, Inc
- Genesys
- Microsoft Corp.
- Nice inContact
The main priorities of CCaaS are contact routing, sales force assistance, and engagement tracking. The Contact Center as a Service Market is predicted to have a positive impact because of the COVID-19 pandemic. The CCaaS model enables anyone to work remotely from any location. Businesses are adopting cloud-based solutions more frequently to maintain the customer experience and have been encouraging work-from-home policies as a result. Furthermore, there was a surge in online transactions and purchases during the COVID-19 crisis which has necessitated the use of cloud-based solutions.
Regional Analysis:
North America currently has the largest Contact Center as a Service Market share due to the rapid digital transformation that is taking place. With the increasing demand for omnichannel service delivery and the adoption of emerging technologies such as AI, there is a boost in future-oriented technology acquisitions and investments. Asia Pacific is predicted to be the fastest-growing regional market. The e-commerce sector in this region is making a significant contribution to the demand for CCaaS solutions in contact centers. Additionally, the promising rate of industrial expansion and development is creating opportunities for regional Contact Center as a Service Market growth.
Market Segmentation:
The global Contact Center as a Service market has been segmented into function, enterprise size, and industry.
Based on function, the Contact Center as a Service Market has been segmented into automatic call distribution, call recording, computer telephony integration, interactive voice response, customer collaboration, dialer, reporting analytics, workforce optimization, and others. The interactive voice response (IVR) segment is expected to dominate the market. IVR is an automated computer system that connects consumers and company staff. Several organizations have used IVR technology to get information about COVID-19 symptoms and patients' health during the pandemic.
Based on enterprise size, the Contact Center as a Service Market has been segmented into large enterprises, and small medium enterprises (SMEs). Small medium-sized businesses are expected to dominate due to the rising number of start-ups and increased investment in cloud-based software solutions among leading companies.
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Based on industry, the Contact Center as a Service Market has been segmented into BFSI, government, healthcare, IT telecom, consumer goods retail, travel hospitality, and others. The IT and telecommunications segment is expected to hold a large market share owing to the growing emphasis on customer demand with a digital technology approach to customer interaction.
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