Basingstoke, UK – 20th March 2024: A new study from Juniper Research, the foremost experts in telecommunications markets, found CCaaS (Contact Centre-as-a-Service) subscription services will generate over $10 billion in subscription revenue in 2025, rising to $18 billion by 2028; a growth of 76%.
The report 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 remarked: ‘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.’
About the Research
The research suite offers the most comprehensive assessment of the CCaaS market to date, including insightful market analysis and in-depth forecasts for 60 countries. The dataset contains 38,700 market statistics over a five-year period. It includes a ‘Competitor Leaderboard’ and a Country Readiness Index to examine future market opportunities.
Juniper Research has, for two decades, provided market intelligence and advisory services to the global telecommunications sector, and is retained by many of the world’s leading network operators and communications platforms.
For further details please contact Sam Smith, Press Relations
E: sam.smith@juniperresearch.com
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