Global Contact Center-as-a-Service (CCaaS) Market Segmentation by Enterprise Size (Small & Medium Enterprises, and Large Enterprises); and by End-User (BFSI, Telecom & IT, Healthcare, Government, Retail & Consumer Goods, and Others) – Global Demand Analysis and Opportunity Outlook 2021-2029
Buy Now Report ID: 3007 | Published Date: Feb 13, 2023
Our in-depth analysis of the global contact center-as-a-service (CCaaS) market includes the following segments:
By Enterprise Size
By End-User
Growth Drivers
Challenges
Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific and the Middle East & Africa region. The market in the Asia Pacific is predicted to grow at the highest CAGR over the forecast period owing to the rise in number of start-ups in the region. Furthermore, in 2021, the market in North America is evaluated to occupy the largest share in terms of revenue, owing to the lead in technological advancement, accompanied by the enhanced customer experiences. Along with this, North America also leads in the growth of small & medium enterprises, which is also expected to contribute to the market growth in the region. Alternatively, the market in Europe is also anticipated to occupy a significant share in the global contact center-as-a-service (CCaaS) market on account of focus of enterprises to widen their customer base in the region. The European Commission, in 2020, had released a European Data Strategy whose aim is to support the European Union to become the most attractive, most safe, and most dynamic data-agile economy globally.
The global contact center-as-a-service (CCaaS) market is further classified on the basis of region as follows:
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Author Credits: Abhishek Verma, Hetal Singh
Ans: Technological advancements for improving customer experience, and the reduction in operational costs post-CCaaS adoption are the key factors driving market growth.
Ans: The market is anticipated to attain a high CAGR over the forecast period, i.e., 2021-2029.
Ans: With respect to end-user, the BFSI segment is anticipated to hold the largest market share owing to the significant rise in customer interaction due to digitization in this segment.
Ans: The market in Asia Pacific region will provide ample growth opportunities owing to the rise in number of start-ups in the region.
Ans: The market is anticipated to attain a high CAGR over the forecast period, i.e., 2021-2029.
Ans: The company profiles are selected on the basis of revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by enterprise size, end-user and region.
Ans: With respect to end-user, the BFSI segment is anticipated to hold the largest market share owing to the significant rise in customer interaction due to digitization in this segment.
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