Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Contact Center as a Service (CCaaS) Market size was valued at USD 6.28 billion in 2024 and is set to exceed USD 61.6 billion by 2037, expanding at over 19.2% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of contact center as a service is evaluated at USD 7.3 billion.
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.
Contact Center as a Service (CCaaS) Sector: Growth Drivers and Challenges
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
Contact Center as a Service (CCaaS) Market: Key Insights
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
19.2% |
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Base Year Market Size (2024) |
USD 6.28 billion |
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Forecast Year Market Size (2037) |
USD 61.6 billion |
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Regional Scope |
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Contact Center as a Service (CCaaS) Segmentation
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 2037 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.
On the basis of end-user, the BFSI segment in the 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.
Our in-depth analysis of the global market includes the following segments:
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By Enterprise Size |
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By End-User |
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Customize this ReportContact Center as a Service (CCaaS) Industry - Regional Synopsis
Asia Pacific industry is expected to hold largest revenue share by 2037. 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 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.
Companies Dominating the Contact Center as a Service (CCaaS) Landscape
- 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, Inc.
- 3CLogic
In the News
Author Credits: Abhishek Verma
- Report ID: 3007
- Published Date: Dec 24, 2024
- Report Format: PDF, PPT
