Latest Banking
- Business confidence dips in September-Lloyds
- Market Report-Hargreaves Lansdown
- Global Financial Centres Index 34-confidence in International Financial Centres’ future is strong-Z/Yen Group
- Timings of Basel 3.1 implementation in the UK-PRA
- Demand for fixed savings rates soars-NatWest
- Global Crypto Adoption Index declined by almost 60% Since Q2 2021-Bankless Times
- Cost to borrow rises across credit cards and loans-Moneyfacts expired
- Starfish Digital and Standard Chartered partner to support demand for real-time cash management data expired
- Gen X and Millennials now outspend Gen Z on Buy Now, Pay Later(BNPL) services-TransUnion expired
- Embracing the world of checkout finance beyond BNPL-Deko expired
- FCA and PRA aim to boost diversity and inclusion in financial services expired
- Cybersecurity breaches triple for financial services firms expired
16th August 2022
CCaaS market value to near $16bn in global revenue by 2027 as top 3 CCaaS vendors revealed
Trend
A new study by Juniper Research has found that global CCaaS (Contact Centre-as-a-Service) market revenue will reach $15.6bn by 2027; rising from $4.bn in 2022. This phenomenal growth of 216% will be driven by the breadth of services offered within comprehensive subscription-based models, including advanced analytics capabilities, AI-enabled chatbots and personalised video solutions.
CCaaS platforms are cloud-based solutions that provide services required to run a contact centre over multiple inbound and outbound communication channels.
The research assessed leading CCaaS platforms and evaluated them on criteria such as depth and breadth of offerings, service innovation and future prospects. It ranked the top 3 vendors as follows:
1. Twilio
2. CM.com
3. Infobip
Twilio has built a flexible CCaaS product offering by supporting multiple OTT messaging applications and voice services. Juniper Research commended Twilio on its intelligent routing and performance-tracking capabilities, which are key in supporting enterprise adoption of omnichannel communications strategies.
Research author Elisha Sudlow-Poole comments “Offering unique innovative services is not enough to stand out in the market. Enterprises will choose their preferred solution based on the comprehensiveness of the value-added services available. As a result, vendors must look to expand the solutions offered via their CCaaS platform to provide crucial differentiation in a highly competitive market.”
The research predicted that social media platforms, such as Instagram and Facebook, will become an important medium for enterprises to interact with their customers in the future. In turn, it urged CCaaS vendors to integrate inbound communications from these channels into their solutions immediately to provide the maximum reach to end users for CCaaS clients. Offering omnichannel functionality will enable CCaaS vendors to strengthen product portfolios; mirroring the success of the CPaaS (Communications Platform-as-a-Service) ecosystem.
Juniper Trends)137 articles)
