Contact Center-as-a-Service (C-CaaS) Market Segmentation by Solution (Automatic Call Distribution, Interactive Voice Response, Call Recording, Computer Telephony Integration, Workforce Optimization, Reporting & Analytics, and Others); by Service (Managed, and Professional Services); by Organization Size (Small & Medium, and Large Enterprises); by End-Use Industry (IT & Telecommunication, Healthcare, Government, BFSI, Consumer Goods & Retail, Media & Entertainment, and Others)-Global Demand Analysis & Opportunity Outlook 2020-2030

Global Contact Center-as-a-Service (C-CaaS) Market Highlights Over 2020 - 2030

The global contact center-as-a-service (C-CaaS) market is estimated to garner a revenue of USD 21560.1 Million by the end of 2030, by growing at a CAGR of 18.53% over the forecast period, i.e., 2021 – 2030. Moreover, the market generated a revenue of USD 3962.4 Million in the year 2020. The growth of the market can be primarily attributed to the rise in the number of business organizations worldwide, and therefore the need of these businesses to provide an exemplary service support to their customers. It has been estimated that the total number of business organizations globally increased from around 160 Million in the year 2010 to close to 220 Million in the year 2020. Businesses worldwide are always into finding solutions that can help them lower their cost of operations. The adoption of virtual and cloud-based contact center solutions helps companies to lower their operational costs as the software allows organizations the flexibility to pay only for the technology which is needed, while better serving their customers. The software also allows live-call and post-call analytics, including other functions, such as IVR for routing calls, call queueing, and call recording features.

CLICK TO DOWNLOAD SAMPLE REPORT

Besides this, the covid-19 pandemic has significantly raised the need amongst businesses to adopt virtual solutions due to the increasing number of restrictions set by the governing bodies for in-office operations. Growing trends for remote working have further led the need amongst the companies to opt for advanced solutions that can help them serve their customers amidst these challenging times. On the other hand, the growing shift of businesses from on-premises to cloud, backed by the recent trends of Industry 4.0 and surge in the adoption of internet, is also projected to create numerous opportunities for the growth of the market in the years to come.

Global Contact Center-as-a-Service (C-CaaS) Market Regional Synopsis

Regionally, the global contact center-as-a-service (C-CaaS) market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in North America is anticipated to garner the largest revenue of USD 13606.5 Million by the end of 2030, up from a revenue of USD 2314.4 Million in the year 2020. The growth of the market in the region can primarily be attributed to the rapid pace of digital transformation amongst industries and the rise in demand for omnichannel service delivery. Besides this, the presence of several C-CaaS organizations, especially in the United States, is also projected to drive the growth of the market in the coming years.

On the other hand, the market in Europe is anticipated to garner the second-largest revenue of USD 3683.2 Million by the end of 2030, up from a revenue of USD 779.8 Million in the year 2020. The growth of the market in the region can primarily be attributed to the presence of numerous organizations, especially in countries, such as Italy, Germany, and France, and for the presence of large players in the IT and telecommunications industry. According to the statistics by the Organization for Economic Co-operation and Development (OECD), the total number of businesses in Italy, France, and Germany in the year 2019 recorded 365968 numbers, 209401 numbers, and 212550 numbers respectively. The market in the region is further segmented by country into the United Kingdom, Germany, Italy, France, Spain, Russia, Netherlands, and the Rest of Europe. Out of these, the market in the United Kingdom is anticipated to generate the second-largest revenue of USD 809.4 Million by the end of 2030, up from a revenue of USD 168.7 Million in the year 2020.

Growth Drivers and Challenges Impacting the Growth of the Global Contact Center-as-a-Service (C-CaaS) Market

Growth Drivers

• Growing Number of Business Organizations

• Rising Adoption of Virtual and Cloud-Based Contact Center Solutions by Organizations

• Increasing Focus of Businesses to Develop Customer Service Experience

Challenges

• Surge in Concerns for Data Security and Privacy

Global Contact Center-as-a-Service (C-CaaS) Market Segmentation Synopsis

The global contact center-as-a-service (C-CaaS) market is segmented by solution into automatic call distribution, interactive voice response, call recording, computer telephony integration, workforce optimization, reporting & analytics, and others. Out of these, the interactive voice response segment is anticipated to garner the largest revenue of USD 5865.3 Million by the end of 2030, up from a revenue of USD 933.3 Million in the year 2020. By service, the market is segmented into professional services, and managed services, out of which, the managed services segment is anticipated to garner the largest revenue by the end of 2030 and also grow with a CAGR of 18.4% during the forecast period. By organization size, the market is segmented into large enterprises, and small & medium enterprises. Out of these, the small & medium enterprises segment is anticipated to garner the largest revenue by the end of 2030. By end-use industry, the market is segmented into IT & telecommunication, healthcare, government, BFSI, consumer goods & retail, media & entertainment, and others. Out of these, the BFSI segment is projected to garner the largest revenue of USD 5596.3 Million by the end of 2030, up from a revenue of USD 866.5 Million in the year 2020.

Key Companies Dominating the Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global contact center-as-a-service (C-CaaS) market that are included in our report are Cisco Systems, Inc., Microsoft Corporation, SAP SE, Oracle Corporation, NEC Enterprise Solutions, Genesys Cloud Services, Inc., Unify (Atos Group), NICE Ltd., Avaya Inc., Five9, Inc., Talkdesk, Inc., Liveops, Inc., Evolve IP, LLC, and others.

Latest Developments in the Global Contact Center-as-a-Service (C-CaaS) Market:

• January 28^th, 2020: Cisco Systems, Inc. announced that it has launched a new cloud contact center product, known as Cisco Webex Contact Center Enterprise, designed specifically for large contact centers. This platform would have new integrations with Voicea and Google Cloud’s Contact Center AI (CCAI) and an enhanced Webex Experience Management for real-time visibility of customer data.

• October 8^th, 2019: SAP SE announced that its contact center solution, SAP Contact Center 365 has been added to the comprehensive portfolio of interconnect services of the SAP Digital Interconnect group.

Key Reasons to Buy Our Report

• The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.

• It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.

• The report includes detailed company profiles of the major players dominating the market.

• We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.

• We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

.