Friday, April 19, 2024
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    CCaaS subscriptions by global businesses to generate $10bn in 2025, despite deceleration

    CCaaS (Contact Centre-as-a-Service) subscription services will generate more than $10bn in subscription revenue by as early as 2025, rising to $18bn by 2028; a growth of 76%, according to data from Juniper Research.

    The latest CCaaS report from the analysts predicts that, while CCaaS revenue will rise 21% between 2024 and 2025, this growth rate is expected to plateau in the three years following. This will be caused by an anticipated reduction in service innovation and over-saturation of service providers, due to the consolidation of SaaS (Software-as-a-Service) platforms.

    CCaaS is a cloud-based contact centre provided by CSPs (Communication Service Providers) and leveraged by customer-facing enterprises. It centralises inbound omnichannel communications onto a single contact centre interface.

    Find out more about the new report, Global CCaaS Market 2023-2028, or download a free sample.

    Acquisitions and mergers are slowing CCaaS product innovation

    The research recognises that much of the recent movement in the CCaaS market has focused on company mergers and acquisitions, as service providers look to develop an all-in-one SaaS platform accommodating and automating both inbound and outbound communications, as well as employee collaboration. Additionally, the shift of many SaaS conglomerates including Microsoft and AWS (Amazon Web Services) to include contact centre services has created increased saturation in the CCaaS market.

    To ensure organic growth in the space, the report recommends CCaaS vendors prioritise service innovation, including workforce engagement management and customer data platforms to reduce data siloes, and co-browsing and interactive calling initiatives to promote branded communications.

    Research author, Elisha Sudlow-Poole says: “By promoting these product innovations, CCaaS will cater to marketing, sales and service intelligence business teams to provide a differentiated end-to-end service platform.”

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