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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

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Extensive insights into the Growth of Contact Center-as-a-Service (CCaaS) Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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Global Contact Center-as-a-Service (CCaaS) Market Highlights 2020-2029

The global contact center-as-a-service (CCaaS) market is estimated to grow with a high CAGR during the forecast period, i.e., 2021-2029. Technological advancements for improving customer experience, along with the reduction in operational costs post-CCaaS adoption are expected to fuel the progress of this market. The growth of the market can also be attributed to factors such as the offering of remote location working capabilities by CCaaS, which is being adopted by enterprises globally due to the Covid-19 pandemic. According to the 2019 AI Index Report published by the Stanford Institute of Human-Centered Artificial Intelligence, the total private investment in artificial intelligence in 2019 was more than US$70 billion globally.

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The market is segmented on the basis of enterprise size into small & medium enterprises and large enterprises, out of which, the large enterprises’ segment is anticipated to grab the largest share by the end of 2021 on account of the adoption of advanced technologies at a faster pace. Moreover, large enterprises can improve their customer interaction owing to a vast customer base, which is also projected to contribute to the growth of the segment during the forecast period. CLICK TO DOWNLOAD SAMPLE REPORT 

On the basis of end-user, the BFSI segment in the global contact center-as-a-service (CCaaS) market is projected to grow with a significant CAGR over the forecast period. The growth of the segment can be attributed to the fact that there has been a significant rise in customer interaction due to digitization in this segment.

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

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.

-Contact-Center-as-a-Service-Market-Share

The global contact center-as-a-service (CCaaS) market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
  • 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 & Opportunity Analysis

Market Segmentation

Our in-depth analysis of the global contact center-as-a-service (CCaaS) market includes the following segments:

By Enterprise Size

  • Small & Medium Enterprises and
  • Large Enterprises

By End-User

  • BFSI
  • Telecom & IT
  • Healthcare
  • Government
  • Retail & Consumer Goods
  • Others

Growth Drivers

  • Technological Advancements for Improving Customer Experience
  • Reduction in Operational Costs Post-CCaaS Adoption

Challenges

  • Concerns Relating to Data Safety and Security
  • High Initial Investment Resulting in Lower Adoption Rate by Small & Medium Enterprises

Top Featured Companies Dominating the Market

  • Evolve IP, LLC.
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Avaya, Inc.
  • NICE Systems, Ltd.
  • Liveops
  • Cisco Systems, Inc.
  • Genesys
  • Five9, Inc.
  • 8x8
  • 3CLogic

 

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