Contact Center as a Service (CCaaS) Market Size, Share & COVID-19 Impact Analysis, By Function (Interactive Voice Response (IVR), Multichannel, Automatic Call Distribution, Computer Telephony Integration (CTI), Reporting and Analytics, Workforce Optimization, Customer Collaboration, and Others), By Enterprise Size (Small & Medium Enterprises and Large Enterprises), By Industry (BFSI, IT & Telecommunications, Government, Healthcare, Consumer Goods & Retail, Travel & Hospitality, Media & Entertainment, and Others), and Regional Forecast, 2022-2029

The global Contact Center as a Service (CCaaS) market size was valued at USD 4.18 billion in 2021. The market is projected to grow from USD 4.87 billion in 2022 to USD 15.07 billion by 2029, exhibiting a CAGR of 17.5% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with contact center as a service experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. Based on our analysis, the global CCaaS market exhibited a decline of 16.1% in 2020 as compared to 2019.

The market has decreased significantly due to COVID-19, owing to a lack of demand across all areas throughout the pandemic. However, the global market witnessed increased demand in 2021 due to a rise in cloud-based service and software CCaaS adoption for the global remote working population.

In the market study, we have included contact center as a service products and services offered by market participants such as Content Guru, Enghouse Interactive., 8x8, Inc., Computer Talk Technology Inc., Anywhere 365, and Luware AG., Genesys, and others operating across the world and regions in the market study. These companies provide cloud contact center solutions, interactive voice response systems (IVR), voicebots,chatbots, contact center management services, and various additional services.

The market is likely to increase as major organizations develop AI-powered contact center platform solutions to enhance customer experience. For instance,

In June 2021, IQVIA launched Medical Information (MI) contact center service driven by Artificial Intelligence (AI). The medical contact center service responds to inquiries from patients, customers, and healthcare professionals (HCPs) worldwide through competent agents.

COVID-19 IMPACT

Slight Decline in Digital Technology Spending in End-User Industries amid COVID-19

Due to the shutdown of companies during the COVID-19 pandemic, the global economy saw a modest decrease in GDP. However, customer service and contact centers have seen significant growth in the overall amount of calls from customers worldwide in the healthcare industry.

The majority of the market's biggest contact center as a service providers offer AI-powered chat solutions andcloud-based contact centers. During the COVID-19 outbreak, banks and financial service providers, and government institutions increased their need for contact center services. To preserve client contacts and the workforce in remote areas, several corporate firms have embraced and implemented technology-based CCaaS solutions. Also, numerous significant players are spending on developing innovative technological tools.

In August 2021, Talkdesk, a cloud-based contact center software company, raised USD 230 million in Series-D investment from Whale Rock Capital Management. Talkdesk used new technology such as artificial intelligence and machine learning to improve the customer service of large enterprises. Trivago N.V., IBM Corporation, Fujitsu Ltd, Acxiom, LLC, and others are among the company's more than 1,800 clients.

LATEST TRENDS

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Growing Trend of Work from Home in Various Industries for Higher Client Retention

Omnichannel contact centers’ market players are implementing advanced analytics systems to provide dashboards with facts that affect their operations. The CCaaS trend of showing statistics dashboards on user interfaces to obtain real time updates on customer experiences is a significant market development. For instance,

• In November 2020, Atos SE developed CCaaS in collaboration with Colt Technology Services Group Limited. Colt provides CCaaS solutions through its cloud and voice solutions connected with Atos' cloud contact center solution. This collaboration has enabled seamless consumer interactions across various omnichannels such as phone, chat, social media, and other new AI-based solutions.


• In October 2020, SugarCRM Inc. announced SugarLive, an enhanced platform for omnichannel customer support. This platform is connected with the contact service Amazon Connect for chat, phone, and text messaging tasks. SugerLive provides seamless, enhanced, omnichannel contact center services to equip teams with strong tools and improve customer care engagement.

DRIVING FACTORS

Increasing Adoption of Application Programming Interface (API) based Contact Center to Aid Market Growth

The increased usage of cloud-based software as services and AI-powered chatbots has fueled the expansion of the Contact Center as a Service industry. The expanding number of prominent organizations launching application programming interface (API)-based contact center solutions is driving the market expansion throughout the forecast period.

The API-based contact center solution offers online customer care by managing messages, texts, live chat, emails, phone calls, SMS, and support requests for businesses. Several major firms are developing API-based customer experience contact centers, driving the market growth. For instance,

• In September 2020, Amazon Web Services developed the Amazon Connect platform, an API-based contact flow management tool. Users may utilize the platform to handle queues, phone numbers, contact flows, and various other tasks. With API, Amazon Connect could create, describe, publish, and update contact flows. Contact-center administrators configure and test contact flows programmatically, which might automate the advancement of contact flows during the development phases.


• In October 2019,Vonage, a provider of cloud communications services, released Conversation API-based Meetings and an App Center platform. The Vonage API platform for talks may generate personalized, real time discussion context across many channels, including phone and texting.

RESTRAINING FACTORS

Rising Threat of Fraudulent Cases, Security Concerns, and Data Breaches Activity May Hinder Market Growth

日益增长的使用数字技术,例如rtificial intelligence andcloud computing, has raised the danger of data breaches and cyber-attacks in contact centers. There is a greater need for compliance, security, and data protection with growing internet connectivity and use. For instance, according to NICE solutions provider statistics, contact centers worldwide handle more than 100 billion calls every month, with one out of every 1,700 calls being identified as fraudulent. The contact center platform manages a massive volume of client data frequently vulnerable to data security threats.

SEGMENTATION

By Function Analysis

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Rising Demand for Effective Interactions with Healthcare Professionals Amid COVID-19 Pandemic Aids the Market Growth

基于功能、市场划分为μltichannel, Interactive Voice Response (IVR), Computer Telephony Integration (CTI), automatic call distribution, reporting and analytics, customer collaboration, workforce optimization, and others (recording, dialer).

交互式语音响应部分likely to dominate. The automated computer system connecting with consumers and company staff is IVR. Several organizations have used interactive voice response technology to get information about COVID-19 symptoms and the patient's health during the COVID-19 pandemic. For instance,

• InApril 2020, the Tamil Nadu e-Government in India created an Interactive Voice Response System (IVRS) in collaboration with the Department of Telecom and the State Health Department from IIT Madras. This platform provided individuals in the state with information about COVID-19, health status, and recognizing COVID-19 signs.

Workforce optimization, customer collaboration, Computer Telephony Integration (CTI), reporting and analytics, multichannel, automatic call distribution, and others (recording, dialer) are expanding the demand in digital services that are expected to surge the demand for CCaaS software and further help in driving the growth of the market.

By Enterprise Size Analysis

Growing Number of SMEs in the IT and Telecommunication Sector to Drive Market

The global market is bifurcated into SMEs and large enterprises based on enterprise size.

Small & medium-sized businesses are expected to dominate the market share. This is due to the rising number of start-ups and increased investment in cloud-based software solutions among the leading companies.

By Industry Analysis

Increasing Investment in the IT and Telecommunications Sector with Surge in Digitalization Globally to Aid Market Growth

Based on industry, the market is categorized into BFSI, IT andtelecommunications, government, healthcare, consumer goods and retail, travel and hospitality, media and entertainment, and others.

The IT and telecommunications segment is expected to have a large market share. The bulk of CCaaS is used in this industry due to the growing emphasis on customer demands with a digital technology approach to customer interaction. According to the IDC Report, worldwide IT revenue was valued at USD 4.8 trillion in 2020 and was predicted to reach USD 5 trillion in 2021. This sector's expansion resulted in prospective demand for CCaaS in the IT and telecommunications sectors.

The government, healthcare, travel, hospitality, consumer goods, retail, BFSI, and media & entertainment industries are expected to showcase steady growth owing to increased demand to monetize enhanced wireless networks via new services, products, and business models.

REGIONAL INSIGHTS

North America CCaaS Market Size, 2021 (USD Billion)

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The market has been analyzed across five major regions, North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America.

North America is anticipated to lead the global CCaaS market. The increased investment in cloud-based software and numerous key firms in the U.S. have fueled the market expansion during the projection period. For instance, according to the United States Federal Government, the government's yearly spending on cloud computing reached USD 6.8 billion in 2017 and is predicted to reach USD 7.8 billion by 2022. Also, several contact centers as services providers in the U.S., including Talkdesk, Inc., Genesys Inc., 8x8, Inc., and many others are driving the Contact Center as a Service market growth in the region. Further, this also helps in increasing the need for contact center services in this region.

Asia Pacific is anticipated to grow at the fastest CAGR. China and Japan are projected to dominate Asia Pacific and are among the market's fastest-growing regions. Growth in this region is also due to increased investment by important businesses in automating business operations. For instance,

• In April 2018, Avaya Inc. launched its contact center as a service operation in Asia Pacific. This launch would help accommodate the increased need to automate corporate operations and improve labor productivity.

Europe is predicted to have the second-largest market share due to a spike in cloud technology use, government assistance, and investments in the industrial and healthcare sectors to streamline corporate operations.

Key market players invest in and launch contact center as a service in emerging Latin America and the Middle East & African nations such as GCC, the Philippines, Columbia, Mexico, Chile, Brazil, South Africa, and others. For instance,

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• In July 2021 – GoContact, a contact center supplier as a service solution, expanded its sales and support activities to Angola and Colombia.


• In June 2021 – NICE Systems Ltd. launched the most recent AI voice of the customer solution, which combinesartificial intelligencewith NICE Satmetrix Voice of the Customer. This technology aids in the minimization of costly repeated calls and client turnover.

KEY INDUSTRY PLAYERS:

Rising Launching of AI-powered Tools by Key Market Players Aid Market Growth

Companies offering contact center as a service, including NICE, Cisco Systems, Evolve IP, LLC, Luware AG., 8x8, Inc., Talkdesk Inc., and others are focusing on releasing advanced technology-based AI-powered unique cloud-based solutions. These companies are increasing their investments in cloud platforms to meet the increased demand for enhanced tools from clients. To improve their operations throughout the world, the participants use various methods such as acquisitions, partnerships, mergers, and collaboration. For instance,

• May 2021:Wavenet partnered with Content Guru Limited. The company's essential feature of this partnership is the company's continuous goal of integrating with high-value partners in the major market and developing the contact center as a service software globally.


• February 2021:Computer Talk Technology Inc. released the new version of the ice contact center as "ice contact center 11". This revised version includes multi-contact handling, improved survey performance, segmented recording, a redesigned ice monitor, and usability and accessibility upgrades.


• January 2021:Talkdesk, Inc. boosted itsmachine learningcapabilities by integrating Contact Center Intelligence and Amazon Web Services products. Customers may use this solution to combine AWS machine learning functionalities with their current contact center provider to increase efficiency and create customized customer experiences.

List of the Key Companies Profiled:

• Anywhere365 Enterprise Dialogue Management(Netherlands)


• Computer Talk Technology Inc. (Canada)


• 8x8, Inc. (U.S.)


• Content Guru Limited (U.K.)


• Enghouse Interactive(U.S.)


• Genesys Telecommunication Laboratories, Inc. (U.S.)


• NICE Systems Ltd. (Israel)


• Talkdesk Inc.(U.S.)


• Luware AG. (Switzerland)


• Evolve IP, LLC(U.S.)

KEY INDUSTRY DEVELOPMENTS:

• August 2021:GWA Group Limited integrated NICE CXone for technological innovation and digital transformation, according to NICE Systems Ltd. This solution allows the organization to transition to a digital contact center platform that manages remote operations and improves client experiences.


• July 2021:Genesys Telecommunication Laboratories, Inc. announced new capabilities that enable rapid innovation for AI-driven consumer experiences. These new capabilities make it easier for businesses to design and manage their own bot experiences, connect third-party messaging applications, and give technical training to their employees.


• April 2021:Westcon Group, Inc. and 8x8, Inc. have announced a distribution partnership. The agreement provides updated cloud communication and contact center solutions, retail contact center as a service public cloud services, and Unified Communications (UCaaS) to Westcon's partners.


• February 2021:Anywhere365 has formed a strategic alliance with ASC Technologies to incorporate compliance recording of calls into Microsoft Teams Contact Centers. Anywhere365 will include ASC Recording Insights software into its Azure-based Dialogue Cloud Platform with this partnership.

REPORT COVERAGE

An Infographic Representation of Contact Center as a Service (CCaaS) Market

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The Contact Center as a Service (CCaaS) market research report highlights leading regions worldwide to understand the user better. Furthermore, the report provides insights into the latest industry and market trends and analyses technologies deployed rapidly globally. It further highlights some of the growth-stimulating factors and restraints, helping the reader gain in-depth knowledge about the market.

REPORT SCOPE & SEGMENTATION

ATTRIBUTE	DETAILS
Study Period	2018-2029
Base Year	2021
Estimated Year	2022
Forecast Period	2022-2029
Historical Period	2018-2020
Unit	Value (USD billion)
Segmentation	By Function, Enterprise Size, Industry, and Region
By Function	Interactive Voice Response (IVR) Multichannel Automatic Call Distribution Computer Telephony Integration (CTI) Reporting and Analytics Workforce Optimization Customer Collaboration Others (Recording, Dialer)
By Enterprise Size	SMEs Large Enterprises
By Industry	BFSI IT and Telecommunications Government Healthcare Consumer Goods and Retail Travel and Hospitality Media and Entertainment Others
By Region	North America (By Function, By Enterprise Size, By Industry, and By Country) U.S. (By Function) Canada (By Function) Europe (By Function, By Enterprise Size, By Industry, and By Country) U.K. (By Function) Germany (By Function) 法国(函数) Italy (By Function) Spain (By Function) Rest of Europe Asia Pacific (By Function, By Enterprise Size, By Industry, and By Country) China (By Function) India (By Function) Japan (By Function) Southeast Asia (By Function) Rest of Asia Pacific Middle East & Africa (By Function, By Enterprise Size, By industry, and By Country) GCC (By Function) South Africa (By Function) Rest of the Middle East & Africa Latin America (By Function, By Enterprise Size, By Industry, and By Country) Brazil (By Function) Mexico (By Function) Rest of Latin America