Contact Center As A Service (CCaaS) Market to grow by USD 5.23 billion between 2023 - 2028| Driven by Increasing adoption of cloud-based offerings- Technavio

NEW YORK, Oct. 31, 2023 /PRNewswire/ -- The Contact Center As A Service (CCaaS) Market is expected to grow by USD 5.23 billion, accelerating at a CAGR of 16.36% during the forecast period. A significant driver of growth in the CCaaS (Contact Center as a Service) market is the expanding adoption of CCaaS solutions within the media industry. The ongoing digital transformation of the media sector, encompassing print, radio, and television media, is compelling media enterprises to place greater emphasis on engaging with their audience through social media platforms. Consequently, there's a rising trend of customers favoring digital content consumption via devices like smartphones, tablets, and computers. Furthermore, numerous media companies are leveraging customer data to formulate their marketing strategies. Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and much more. Buy full report here

• One of the primary obstacles impeding the growth of the CCaaS (Contact Center as a Service) market is the intricate nature of integrating CCaaS solutions. The deployment of contact center software is a complex process, involving various components such as automated call distribution, computer telephony integration, workforce management, and IVR. Moreover, effectively handling and implementing CCaaS solutions demands proficient IT resources and technical expertise due to their inherent complexity.
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The Contact Center As A Service (CCaaS) Market has segmented by Component (Solutions and Services), End-user (BFSI, IT and telecom, Healthcare, Consumer goods and retail, and Others), and Geography (North America, Europe, APAC, South America, and Middle East and Africa). 

• The solutions segment is expected for substantial growth during the forecast period. This growth is primarily driven by the increasing adoption of Contact Center as a Service (CCaaS) by businesses in various sectors, including BFSI (Banking, Financial Services, and Insurance) and retail. They utilize CCaaS to efficiently manage and monitor customer inquiries with automated responses, which is a significant contributor to the segment's expansion. Furthermore, CCaaS solutions offer features like call distribution, customer collaboration, and interactive responses to effectively handle a large volume of inbound calls.
• North America is expected to make a 35% contribution to the global market's growth during the forecast period. In North America, the Contact Center as a Service (CCaaS) market's growth is driven by key factors, including the widespread adoption of public cloud services by businesses and the growing demand for customer information analysis.
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Key Companies in the Contact Center As A Service (CCaaS) Market:

• 3CLogic Inc.
• 8x8 Inc.
• Alvaria Inc.
• Atos SE
• Avaya LLC
• Capgemini Service SAS
• China Huaxin Post and Telecom Technologies Co. Ltd.
• Cisco Systems Inc.
• Enghouse Systems Ltd.
• Evolve IP LLC
• Five9 Inc.
• Genesys Telecommunications Laboratories Inc.
• Serenova LLC
• Lumen Technologies Inc.
• Microsoft Corp.
• Mitel Networks Corp.
• NICE Ltd.
• Oracle Corp.
• RingCentral Inc.
• SAP SE

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TOC:

1. Executive Summary
2. Market Landscape
3. Market Sizing
4. Historic Market Sizes
5. Five Forces Analysis
6. Market Segmentation by Component
7. Market Segmentation by End-User
8. Market Segmentation by Geography
9. Customer Landscape
10. Geographic Landscape
11. Drivers, Challenges, & Trends
12. Company Landscape
13. Company Analysis
14. Appendix

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SOURCE Technavio