The global contact center as a service market is estimated at US$ 4.5 Billion by 2022 and is probably going to reach US$ 16 Billion by 2032, displaying a CAGR of 13.52% during the forecast period. Expansion of the market can be attributed to the creating adoption of advanced contact center innovations for better working of the market and organizing client interactions to offer an unrivaled client experience.
Players in the market are introducing novel arrangements, which is probably going to augment the market advancement in the approaching time. For instance, in April 2020, Service As of now announced the launch of the Amazon Interface Integration with Cloud Call Center, a cloud contact center arrangement that outfits laborers with better IT support functionalities.
Cloud-based contact center software achieves no IT services and parts utilization. Also, they can be introduced in an enrollment model, allowing undertakings to pick the model according to their essentials, achieving cost savings.
Organizations with restricted assets adopt cloud-based contact centers, supporting the adoption of such frameworks in small and medium organizations. Attributed to such factors, the market is supposed to prosper significantly during the forecast time frame.
On the contrary, the increasing adoption of digital advances, like AI, ML, and distributed computing has brought about increased data breaches and cyberattacks in contact centers. The requirement for security, compliance, and data insurance has increased with the rising web networks. According to statistics given by Pleasant, contact centers handle more than 100 billion calls consistently, with one out of 1,700 calls being fraudulent.
Key Takeaways from the Market Study:
- Global contact center as a service market is supposed to thrive 3.5x until 2032
- By industry, IT and telecommunications are the primary end clients, accumulating 42% of income
- The SMEs section is supposed to dominate the global contact center as a service market during the forecast time frame
- In 2022, North America is supposed to accumulate 35% of the total contact center as a service market share
- Europe to be a significant supporter of market development, enrolling a CAGR of 12% until 2032
- Asia Pacific to be the fastest expanding locale, enlisting a 12.3% value CAGR from 2022-2032
“The deployment of cloud-based software as a service and AI-powered chatbots is expected to boost market size over the forecast period. Another factor that is expanding the market’s development scope is the growing launch of application programming interface (API)-based contact center arrangements “FMI analyst comments