Contact Center As A Service (CCaaS) Market Size, Share, Opportunities, And Trends By Solution (Call Recording, Dialer, Customer Collaboration, Interactive Voice Response, Workforce Optimization, Others), By Service (Integration and Deployment, Support and Maintenance, Training and Consulting, Managed Service), By Enterprise Size (Small & Medium Enterprise (SMEs), Large Enterprise), By Industry Vertical (BFSI, IT and Telecom, Hospitality, Government, Retail, Others), And By Geography - Forecasts From 2024 To 2029

Contact center as a service (CCaaS) market size

The contact center as a service (CCaaS) market is anticipated to grow from US$8.551 billion in 2024 to US$16.303 billion in 2029 at a CAGR of 13.78%.

Contact Center as a Service (CCaaS) is a platform that improves a company’s customer engagement through varied omnichannel communications channels. The software enhances overall efficiency by streamlining their operations at a low cost and providing them with preferred customer-engaging channels.

"The growing corporate culture in major economies, investment in new technological innovations to bolster customer interaction, and a booming cloud environment have accelerated the scale of new software usage. These factors are providing new growth prospects to the Contact Center as a Service market."

Moreover, the ongoing innovations by major market players and efforts to improve business scalability, followed by investments by modern enterprises in new strategies that would assist them in migrating towards cloud-assisted customer service channels, have further augmented the overall market expansion.

Though CCaaS assists in generating essential contact center insights in real-time, the cost associated with quality control management, streamlined integration, and inbound and outbound call optimization can be high, hindering market growth.

What are the contact center as a service (CCaaS) market drivers?

• A booming corporate culture is expected to drive market expansion.

Corporate culture streamlines a country's business objectives, which assists in identifying the goals to achieve positive economic growth. Major economies are witnessing positive growth in their corporate sector, with new business establishments taking place, and with the ongoing technological transition, the scale of business activities is set to accelerate.

According to the US Census, the number of formation applications for August 2024 reached 431,928 representing a 2.5% growth over the preceding month. The same source also specified that projected business formation experienced 2.6% growth in the same month. Likewise, cloud services are being adopted by the government and public sectors, further establishing a new framework for new customer relationship management channels.

The ongoing transition to Artificial Intelligence has created growth opportunities for generative and observational AI in customer engagement channels. This enhancement has allowed companies to streamline operations by capturing and analyzing agent interactions through contact center analytics.

• Favorable investment and strategic collaboration to bolster the CCaaS platform has propelled the market growth.

Contact Center as a Service offers omnichannel communications via texting apps, calls, bots, and social media. This is increasing the efficiency of a company’s customer interaction and improving its ability to harness instant related data. With rapid industrialization and establishing regional centers, the demand for platforms providing seamless customer experience is growing.

Hence, companies are investing in such technologies and implementing strategic maneuvers. For instance, in April 2022, Observe.AI raised US$125 million in series C round funding, which it will use in improving its “Intelligent Workforce Platform,” further boosting customer interaction. The investment would further the company’s image in the contact center sector by extending its geographical reach.

Likewise, in November 2023, Sprinklr, a unified customer experience management platform, partnered with infinite.cx to optimize the former’s CXM platform’s services, which would facilitate enterprises' adoption of cloud-based customer services across 30+ digital channels. The collaboration aimed to bolster digital customer experience.

Analysis of contact center as a service (CCaaS) market segments:

• Large enterprises are expected to show significant growth. 

Contact Center as a Service market, based on enterprise size, is divided into small & medium enterprises (SMEs) and large enterprises. The latter is expected to account for a considerable market share and is anticipated to show steady growth.

International conglomerates engage in customer interaction at a wider scale than small and medium enterprises. The latter have regional branches to manage their business overseas. As the business environment is dynamic, companies emphasize improving their competitive edge by leveraging innovative technologies that enable them to generate and analyze customer data in real-time.

Small and medium enterprises (SMEs) are expected to grow constantly during the given time frame. This growth is attributable to favorable investment and government initiatives to modernize the business infrastructure.

What are the key geographical trends shaping the contact center as a service (CCaaS) market?

• North America is estimated to account for a significant market share.

Geographically, the contact center as a service market is segmented into North America, South America, Europe, the Middle East and Africa, and Asia Pacific. The North American market is expected to account for a considerable share and is estimated to grow constantly. This growth is fueled by ongoing investments in advanced technologies to bolster business operations, booming cloud computing, and corporate establishments in major regional economies, namely the United States and Canada.

Major market players, namely Microsoft, Amazon Web Service, Cisco, and Accenture are well-established in North America, and the companies have shown constant investment to bolster cloud infrastructure. For instance, according to AWB’s “Economic Impact Study 2023”, Amazon invested nearly US$108 billion between 2011 and 2022 to strengthen cloud computing infrastructure in the US.

Likewise, the European and Asia Pacific markets are anticipated to show steady growth during the forecast period owing to the growing corporate environment and strategic ventures to bolster corporate-customer communication. Middle East and South America are expected to account for a minimal market share.

Recent developments in the contact center as a service (CCaaS) market:

• In July 2024, SS&C Technologies Holdings Inc. launched a new “Contact Center” platform that will enable the retirement, life and pension, and asset management sectors to improve their customer communication. The platform further allows firms to leverage intelligent automation technologies for instant customer information access.
• In June 2024, Microsoft launched its co-pilot contact center as a service solution, “Dynamic 365 Contact Center,” which delivers generative AI for customer engagement channels. The solution enables users to connect to their preferred customer relationship management system, providing a modern service experience.
• In October 2023, Bharti Airtel launched its omnichannel cloud platform, Airtel CCaaS, which fulfills a company's contact center requirements, including handling inbound and outbound calls, conference calls, call queuing, and cloud monitoring. The platform is ideal for dealing with multi-vendor set-up and eliminates a company’s wait time during troubleshooting.
• In June 2023, Verint showcased its “Open Contact Center As A Service” platform at the “Engage 2023” customer conference. The platform assists companies in choosing the medium for establishing their contact centers, delivering next-level customer experience automation while lowering the overall operational cost.

Contact center as a service (CCaaS) market scope:

Report Metric	Details
Contact Center As A Service (CCaaS) Market Size in 2024	US$8.551 billion
Contact Center As A Service (CCaaS) Market Size in 2029	US$16.303 billion
Growth Rate	CAGR of 13.78%
Study Period	2019 to 2029
Historical Data	2019 to 2022
Base Year	2024
Forecast Period	2024 – 2029
Forecast Unit (Value)	USD Billion
Segmentation	Solution Service Enterprise Size Industry Vertical Geography
Geographical Segmentation	North America, South America, Europe, Middle East and Africa, Asia Pacific
List of Major Companies in Contact Center As A Service (CCaaS) Market	Microsoft Amazon Web Services, Inc. Accenture ALE International Avaya LLC
Customization Scope	Free report customization with purchase

 

The contact center as a service (CCaaS) market is analyzed into the following segments:

• By Solution
  • Call Recording
  • Dialer
  • Customer Collaboration
  • Interactive Voice Response
  • Workforce Optimization
  • Others
• By Service
  • Integration and Deployment
  • Support and Maintenance
  • Training and Consulting
  • Managed Service
• By Enterprise Size
  • Small & Medium Enterprise (SMEs)
  • Large Enterprise
• By Industry Vertical
  • BFSI
  • IT and Telecom
  • Hospitality
  • Government
  • Retail
  • Others
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • Israel
    • Others
  • Asia Pacific
    • Japan
    • China
    • India
    • South Korea
    • Indonesia
    • Thailand
    • Others

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1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base and Forecast Years Timeline

1.8. Key Benefits for the Stakeholders

2. RESEARCH METHODOLOGY  

2.1. Research Design

2.2. Research Process

3. EXECUTIVE SUMMARY

3.1. Key Findings

3.2. Analyst View

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Porter’s Five Forces Analysis

4.3.1. Bargaining Power of Supplier

4.3.2. Bargaining Power of Buyers

4.3.3. The Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

5. CONTACT CENTER AS A SERVICE (CCAAS) MARKET BY SOLUTION  

5.1. Introduction

5.2. Call Recording

5.3. Dialer

5.4. Customer Collaboration

5.5. Interactive Voice Response

5.6. Workforce Optimization

5.7. Others

6. CONTACT CENTER AS A SERVICE (CCAAS) MARKET BY SERVICE

6.1. Introduction

6.2. Integration and Deployment

6.3. Support and Maintenance

6.4. Training and Consulting 

6.5. Managed Services

7. CONTACT CENTER AS A SERVICE (CCAAS) MARKET BY ENTERPRISE SIZE

7.1. Introduction

7.2. Small and Medium Enterprise (SMEs)

7.3. Large Enterprise 

8. CONTACT CENTER AS A SERVICE (CCAAS) MARKET BY INDUSTRY VERTICAL

8.1. Introduction

8.2. BFSI

8.3. IT and Telecom

8.4. Hospitality

8.5. Government

8.6. Retail 

8.7. Others

9. CONTACT CENTER AS A SERVICE (CCAAS) MARKET BY GEOGRAPHY

9.1. Introduction

9.2. North America

9.2.1. USA

9.2.2. Canada

9.2.3. Mexico

9.3. South America

9.3.1. Brazil

9.3.2. Argentina

9.3.3. Others

9.4. Europe

9.4.1. UK

9.4.2. Germany

9.4.3. France

9.4.4. Italy

9.4.5. Others

9.5. Middle East and Africa

9.5.1. Saudi Arabia

9.5.2. Israel

9.5.3. Others 

9.6. Asia Pacific

9.6.1. Japan

9.6.2. China

9.6.3. India

9.6.4. South Korea

9.6.5. Indonesia

9.6.6. Thailand

9.6.7. Others

10. COMPETITIVE ENVIRONMENT AND ANALYSIS

10.1. Major Players and Strategy Analysis

10.2. Market Share Analysis

10.3. Mergers, Acquisitions, Agreements, and Collaborations

10.4. Competitive Dashboard

11. COMPANY PROFILES

11.1. Microsoft

11.2. Amazon Web Services, Inc.

11.3. Accenture 

11.4. ALE International

11.5. Avaya LLC

11.6. Tata Communication Services Limited 

11.7. Cisco

11.8. Genesys

11.9. 8x8, Inc. 

11.10. Evolve IP, LLC.

11.11. Five9, Inc.

11.12. Enghouse Interactive

Microsoft

Amazon Web Services, Inc.

Accenture 

ALE International

Avaya LLC

Tata Communication Services Limited 

Cisco

Genesys

8x8, Inc. 

Evolve IP, LLC.

Five9, Inc.

Enghouse Interactive