According to a report by Juniper Research, CCaaS (contact centre-as-a-service) subscription services will generate over $10 billion in subscription revenue in 2025, rising to $18 billion by 2028, representing a growth of 76 per cent.
The report predicts that while CCaaS revenue will rise 21 per cent between 2024 and 2025, this growth rate is expected to plateau in the following three years. 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 communication service providers (CSPs) and leveraged by customer-facing enterprises. It centralises inbound omnichannel communications onto a single contact centre interface.
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 Amazon web services (AWS) 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.
Commenting on the report, Elisha Sudlow-Poole, report author, said, “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.”
