Global Contact Center as a Service (CCaaS) Market to Hit Sales of 11.74 billion by 2028 | Over 80% of Providers to Integrate AI and Machine Learning By 2028
Global contact center as a service (CCaaS) market was valued at USD 3.89 billion in 2021 and is expected to reach USD 11.74 billion by 2028, growing at a CAGR of 17.10% during the forecast period (2022–2028).
Westford, USA, Aug. 31, 2022 (GLOBE NEWSWIRE) — The demand for contact center as a service (CCaaS) is on the rise, specifically in the SMB and enterprise sectors. According to a study by SkyQuest, SMBs will spent $1.3 billion on CCaaS in 2021, up from $0.93 billion in 2020. Additionally, companies with more than 5,000 employees are expected to make the largest investments in contact center as a service (CCaaS) market over the next 6 years.
One of the key factors driving increased growth of the global CCaaS market is the proliferation of artificial intelligence (AI). AI automates routine tasks and reduces the need for human interaction, which can lead to improved customer service levels and shorter response times. Additionally, sophisticated algorithms have made it possible to provide Predictive Contact Centered Management (PCM) ethyst technology that can automate interactions with customers who have contacted your company multiple times or who have raised red flags.
Apart from this, we have observed that, many companies in the Europe contact center as a service (CCaaS) market after the Brexit are moving their customer service operations outside of the UK in order to maintain access to EU customers. Additionally, many large enterprises are looking to outsource certain customer service tasks due to increasing financial pressures and reduced staffing levels.
SkyQuest has published report on global contact center as a service (CCaaS) market. The report provides a detailed insights about market dynamics, Opportunities, trends, challenges, competitive landscape, market share analysis, pricing analysis, company profile and their SWOT analysis, and PESTLE, among others.
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Work From Home has Changed the Market Outlook, Robotic Process Automation on the Rise
The demand for contact center as a service (CCaas) market is on the rise, due to the proliferation of mobile devices and the need for companies to keep their customer interactions as close to their desktops as possible. In a recent study, SkyQuest has found that end-users are requesting contact center automation tools more than ever before. This is likely thanks to the increasing popularity of remote work and the use of mobile devices to conduct customer interactions.
To meet the growing demand, many contact centers are implementing robotic process automation (RPA) solutions. These tools help automate repetitive tasks and make it easier for call center agents to focus on interacting with customers in a quality manner. RPA can also help reduce customer turnover and improve customer experience.
According to the study, the average customer’s budget is now higher than ever before. In fact, we observed at least 23% growth in their overall spending across global contact center as a service (CCaaS) market because they no longer have to spend money on travel expenses or other costs associated with working from home. In addition, it was found that many customers are also interested in receiving support from live agents rather than talking with automated systems. This shift is likely due to the fact that automated systems can often provide inaccurate information or slow down when users need help urgently.
SkyQuest has published a report on global contact center as a service (CCaaS) market. The report provides insights into current change in the market dynamics, impact of change in work from office to WFH, market forecast, market revenue, technology development, and company profile.
SkyQuest Study Says Adoption of CCaaS to Surpass 60% by 2028 from 41% in 2021
Contact center as a service (CCaaS) market has become a pervasive and necessary part of global businesses. As more companies are turning to contact center as a service provider to help manage customer interactions. It can offer organizations a variety of benefits, including decreased operational costs, increased agility and scalability, and faster response times to customer queries.
According to a 2021 study by SkyQuest, 63% of companies surveyed across contact center as a service (CCaaS) market said they plan to expand their use of CCaaS in the next 12 months. This increase in adoption is likely due to the many benefits CCaaS offer organizations. Estimates suggest that CCaaS can save an organization between $2,000 and $1,5000 per month on average depending on the size of company. The most common cost savings realized through CCaaS include reduced call center expenses (61%), administrative overhead costs (50%), and staff time spent on customer interactions (38%).
Browse summary of the report and Complete Table of Contents (ToC):
https://skyquestt.com/report/contact-center-as-a-service-market
The most important drivers of this transformation in the global contact center as a service (CCaaS) market across mature region, consolidation in the contact center as service market, and increasing customer demand for self-service capabilities. The adoption of CCaaS by enterprise customers is expected to increase across regions, industries and sizes, reaching 60% by 2025. The report highlighted several leading providers of CCaaS, including Amazon Web Services (AWS), Microsoft Azure and Google Cloud Platform (GCP). These providers are offering their services in a variety of ways, such as as a fully managed service or through collaboration tools such as chatbots. In addition, these providers are continuing to invest in artificial intelligence (AI) and machine learning (ML) technologies to gain a competitive edge.
SkyQuest has studied the global contact center as a service (CCaaS) market and prepared a detailed report on market analysis, market forecast, key players and their growth strategies, current and future market potential, pricing analysis, and customer data analysis, among others.
Integration of AI and Machine Learning is On the Rise in Contact Center as a Service Market
AI has already helped improve customer experiences by automating processes such as routing contacts to the most appropriate representative or providing recommendations for best practices. And because machine learning algorithms continue to develop, AI is likely to play an even greater role in contact center as a service (CCaaS) market in the future. For example, it may be able to automate more complex tasks such as analyzing call data to identify signs that a customer may be upset or recommend solutions prior to a call being placed.
Machine learning can help contact centers better recognize patterns in customer interactions, which can help them optimize services and reduce the number of customer support calls. For instance, ML could be used to identify repeat customers or those who are most likely to need help with specific problems. By recognizing these patterns, contact centers could provide targeted support instead.
According to a study by SkyQuest, by 2028, 80% of customer service organizations in the global contact center as a service (CCaaS) market will use machine learning and AI to improve their customer experience. The main reasons for deploying these technologies include automating process flows and accelerating resolution of issues. In addition, machine learning and AI can also provide predictive insights that help managers better anticipate customer needs and respond accordingly.
However, we have identified some challenges that organizations in the global contact center as a service (CCaaS) market are likely to face while implementing machine learning and AI in contact centers. For example, data requirements can be enormous, especially if training datasets are required for model tuning. Additionally, data preparation and pre-processing must be carried out correctly in order to avoid introducing bias into the models. And finally, managing large amounts of data demands constant vigilance from operators to avoid unauthorized access or inadvertent corruption.
For detailed understanding about contact center as a service (CCaaS) market, which primarily includes latest market trends, innovation, impact of advanced technology on market, changing attitude of providers,
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Key Players in Global Contact Center as a Service (CCaaS) Market
- NICE (Israel)
- Genesys (US)
- Cisco (US)
- Avaya (US)
- Five9 (US)
- Talkdesk (US)
- Vonage (US)
- 8×8 (US)
- AWS (US)
- Atos (France)
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