MarkNtel Advisors recently published a detailed industry analysis of the Contact Centre as a Service Market. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.

Contact Centre as a Service Market Size, Share, and Trends Analysis Report – Industry Overview and Forecast to 2028

The Contact Centre as a Service Market size was valued USD 4.57 Billion in 2022 and is estimated to grow at a CAGR of about 15.6% during the forecast period, i.e., 2023-28.

What are the major Driver the Contact Centre as a Service industry?

Growing Use of Interactive Voice Response (IVR) Calling Solutions Among Companies – Over the past years, technological advancement & the shift toward digitalization have enabled several companies & service-providing agencies like banks, government authorities, delivery providers, etc., to expand their operations via online platforms. This has allowed these entities to improve their overall service offering & customer retention capacity.

The market has witnessed a boom since the advent of the COVID-19 pandemic, as travel, trade, and business restrictions led many businesses, specifically food delivery providers & banks to adopt IVR software to interact with their customers & resolve their issues timely. For instance, during 2020-21, many businesses, such as Twilio, iFood, Spotify, Uber, etc., adopted IVR systems to resolve customer issues & cater to their demands. In addition, the adoption of the IVR system has allowed the companies to achieve cost minimization as no additional IT team is required to look after customer grievances.

Further, as new startups & businesses related to FMCG & the BFSI sector are expanding into the global markets, the demand for IVR solutions for enhanced customer services is anticipated to increase. Thus, it would further lead to the growth of the market in the upcoming years.

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What segments define the Contact Centre as a Service market from 2023 to 2028? How do these segments contribute to market dynamics and growth?

• By Component
• Solution Type
• Automated Call Distribution- Market Size & Forecast 2018-2028F, USD Million
• Computer Telephony Integration (CTI)- Market Size & Forecast 2018-2028F, USD Million
• Reporting & Analytics- Market Size & Forecast 2018-2028F, USD Million
• Interactive Voice Response (IVR)- Market Size & Forecast 2018-2028F, USD Million
• Customer Collaborations- Market Size & Forecast 2018-2028F, USD Million
• Workforce Optimization- Market Size & Forecast 2018-2028F, USD Million
• Others (Recording, Dialer, etc.)- Market Size & Forecast 2018-2028F, USD Million
• Services Type
• Integration & Deployment- Market Size & Forecast 2018-2028F, USD Million
• Support & Maintenance- Market Size & Forecast 2018-2028F, USD Million
• Training & Consulting - Market Size & Forecast 2018-2028F, USD Million
• By Organization Size
• Small & Medium- Market Size & Forecast 2018-2028F, USD Million
• Large- Market Size & Forecast 2018-2028F, USD Million

According to report, Large Enterprises hold a significant share in the market as industries like Walmart, Amazon, Uber, Spotify, etc., have a well-expanded business, due to which the customer traffic at these websites is high.

• By Deployment Mode
• Public Cloud- Market Size & Forecast 2018-2028F, USD Million
• Private Cloud- Market Size & Forecast 2018-2028F, USD Million
• Hybrid Cloud- Market Size & Forecast 2018-2028F, USD Million
• By End Users
• Banking & Financial Services & Insurance- Market Size & Forecast 2018-2028F, USD Million
• Government Agencies- Market Size & Forecast 2018-2028F, USD Million
• Healthcare- Market Size & Forecast 2018-2028F, USD Million
• Retail & Ecommerce- Market Size & Forecast 2018-2028F, USD Million
• IT & Telecommunication- Market Size & Forecast 2018-2028F, USD Million
• Manufacturing- Market Size & Forecast 2018-2028F, USD Million
• Media & Entertainment-Market Size & Forecast 2018-2028F, USD Million
• Tourism & Hospitality-Market Size & Forecast 2018-2028F, USD Million
• Others (Education Institutions, Energy & Utility, etc.)

According to report, The adoption of CCaaS services within the retail & e-commerce segment globally has been increasing considerably in the past years.

Explore the Complete Contact Centre as a Service Market Analysis Report – https://www.marknteladvisors.com/research-library/ccaas-market.html

Geographical Analysis: Contact Centre as a Service Market

• North America
• South America
• Europe
• The Middle East & Africa
• Asia-Pacific

Contact Centre as a Service Market Share & Competitive Landscape:

The Contact Centre as a Service Market is characterized by intense competition, with several key players driving growth through innovation, market expansion, and strategic investments. The competitive landscape provides valuable insights into the industry's leading companies, highlighting their strengths, financial performance, and market influence.

Leading Companies in the Contact Centre as a Service Market are:

• Genesys Telecommunication Laboratories
• Nice System Ltd.
• Talk Desk Inc.
• 8X8 Inc.
• Enghouse Interactive
• Luware AG
• Evolve IP LLC.
• Cisco Systems
• Alcatel Lucent Enterprises
• Microsoft Corporation
• Five9 Inc.
• Avaya Inc.
• Anywhere365
• Zen Desk
• Mitel Network Corporation

Contact Centre as a Service Industry Recent Development:

• 2023: 8X8 Inc. announced the launch of voice conversation AI in its intelligent customer assistant solution. This would allow the business to create simple to complex customer experience across digital & voice channels.           
• 2023: Cisco Systems announced its new platform Webex that provides fully integrated UCaaS, CCaaS, and CPaaS, portfolio.

 Questions Addressed in this Study

1.What factors are driving the Contact Centre as a Service Market growth?

2.How is the Contact Centre as a Service Market expected to grow over the next five years?

3.What are the key insights into the current trends in the Contact Centre as a Service Market?

4.What is the current size of the Contact Centre as a Service Market, and how is it projected to change in the future?

6.What is the future outlook for the Contact Centre as a Service Market in terms of technological advancements and market expansion?

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Why MarkNtel Advisors?

MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.

Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.

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