Contact Center as a Service (CCaaS) Market - Introduction
- Contact center as a service is a cloud based solution that allows enterprises to use the software of the contact center providers’.
- This service model offers various deployment options to customers: public, private, hybrid, and multi-cloud.
- Various delivery model such as software as a service (SaaS), platform as a service (PaaS) and infrastructure as a service (IaaS) can be implemented.
- Contact center as a service is a flexible option for many enterprises as it offers scalability as per operational needs, and flexibility to pay for only the technology needed.
- Investments on contact center as a service is low, as organizations do not have to take care of the model along with the operations and maintenance.
- Usage of the solution significantly reduces capital expenditure and operational expenditure and it has the capability to serve more customers
Technological advancements for better customer experience expected to drive the contact center as a service (CCaaS) market
- Customers are increasingly becoming digitally conscious. Digitization of the customer experience helps provide better services. This in turn is augmenting the market. Digitization initiatives taken by various countries across the globe are also driving the contact center as a service (CCaaS) market.
- Technological developments have a strong impact on the global contact center as a service (CCaaS) market. Advantages such as faster service, better compliance management, flexibility, and analytics service offered by contact center as a service are expected to propel the large-scale adoption of contact center as a service solutions across the globe.
Security concerns expected to restrain the contact center as a service (CCaaS) market
- Security concerns associated with the vulnerabilities of the public cloud might have a negative impact on the contact center as a service market.
- Moreover, high initial investment associated with the contact center as a service market results in lower adoption of the service especially by small and medium enterprises; this is expected to cause hindrance in the growth of the contact center as a service market.
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North America Expected to Hold Major Share of the Global Contact Center as a Service (CCaaS) Market
- On the basis of region, the global contact center as a service market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
- North America is expected to account for major share of the global contact center as a service market during the forecast period, due to advancements in technology and enhanced customer experiences in the region.
- The major shareholder in this region is the U.S. resulting in rising share of North America in the contact center as a service market.
Global Contact Center as a Service (CCaaS) Market - Competitive Landscape
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Key Players Operating in the Global Contact Center as a Service (CCaaS) Market
- Liveops, Inc.
- CenturyLink, Inc.
- Evolve IP, LLC.
- Talkdesk, Inc,
- Cisco Systems, Inc.
- Avaya Inc.
- Aspect Software, Inc.
- NICE Ltd.
- Five9 Inc.
Global Contact Center as a Service (CCaaS) Market: Research Scope
Global Contact Center as a Service (CCaaS) Market, by Type
Global Contact Center as a Service (CCaaS) Market, by Enterprise Size
- Small and Medium Enterprises
- Large Enterprises
Global Contact Center as a Service (CCaaS) Market, by Industry
- Telecom & IT
- Healthcare & Life Sciences
- Public Sector
- ‘Retail & Consumer Goods
Global Contact Center as a Service (CCaaS) Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.