CCaaS market revenue to reach $15.6Bn by 2027
The global contact center-as-a-service (CCaaS) market revenue is projected to reach $15.6 billion by 2027, from $4.9 billion in 2022, at a compound annual growth rate (CAGR) of 126%.
According to multinational IT firm Juniper Networks, this growth will be driven by the wide range of services offered within comprehensive subscription-based models, comprising advanced analytics capabilities, AI-enabled chatbots, and personalized video solutions.
Juniper also suggested that social media platforms will become an essential tool for customer communication for companies in the future. Therefore, CCaaS vendors need to add support for social media platforms into their solutions so that CCaaS clients can communicate with their end customers on the same platform.
Moreover, by offering omnichannel functionality, CCaaS vendors will be able to strengthen their product portfolios, thereby achieving the success of the Communications Platforms-as-a-Service (CPaaS) ecosystem.
Meanwhile, evaluating the different vendors on criteria like depth and breadth of offerings, service innovation, and prospects, Juniper ranked Twilio, CM.com and Infobip as the top three vendors in the CCaaS market.
