The Contact Center as a Service (CCaaS) market on a global scale is anticipated to experience substantial growth, increasing from $5.15 billion in 2023 to reach $16.43 billion by the year 2030, reflecting a noteworthy compound annual growth rate of 18% throughout the forecast period, according to a report by Fortune Business Insights.
During the COVID-19 pandemic, the expansion of this market was notably hindered due to a widespread lack of demand for CCaaS solutions in various sectors. However, in 2021, the global market exhibited a steady resurgence, primarily driven by the heightened adoption of cloud-based services and software, alongside the growing utilization of CCaaS among the global remote workforce.
As influential companies such as Content Guru and 8x8 continue to offer cloud-based contact center solutions, interactive voice response systems, voicebots, chatbots and comprehensive contact center management services, the market is poised for further growth. Realizing this potential, however, hinges on the commitment of major organizations to advance AI-powered contact center platform solutions that aim to enhance the overall customer experience.
CCaaS now enables companies to achieve these goals at low cost and with minimal risk because of tools that go beyond voice and text – tools such as AI, ML, automation and chatbots, according to the recent 2023 ISG Provider Lens global Contact Center as a Service report.
AI, for example, serves as the cornerstone for the development of increasingly sophisticated virtual assistants within contact centers. These AI-driven virtual assistants are elevating the standard for automated query resolution by not only providing quick and accurate responses but also by understanding context and engaging in natural, human-like conversations with customers.
This shift redefines customer interactions, offering an efficient experience that gives a boost to customer satisfaction while reducing the burden on human operators.
AI-powered analytical tools, as another example, give companies access to vast reservoirs of customer data more intelligently and strategically. By employing AI algorithms to analyze customer interactions, sentiment and preferences, businesses gain insights that inform decision-making processes. This, in turn, augments the capabilities of human operators, allowing them to provide more personalized and context-aware support.
The synergy between AI-driven analytics and human expertise creates a formidable tandem that not only improves the efficiency of contact center operations but also unlocks untapped potential for enhancing customer relationships, driving business growth and staying competitive in the marketplace.
“Enterprises have gained a great deal of confidence in the use of AI alongside human operators,” said Jan Erik Aase, partner and global leader, ISG Provider Lens Research. “We expect AI to be integrated into all CCaaS offerings.”
With AI integrated into CCaaS offerings, there is no doubt that CCaaS platforms will continue to be a mainstream enterprise strategy as consumer demands change and CX gains importance in corporate decision-making.
“Contact centers are still under-valued by most organizations, but this is changing. CCaaS is just one of the technology advancements setting the stage for more widespread use of AI across the contact center environment,” said Wayne Butterfield, ISG partner, digital solutions. “Adopting CCaaS is a critical and foundational step within the digital transformation of the contact center.”
Edited by
Alex Passett
