Juniper Research noted in a recent report that contact center as a service (CCaaS) subscription services should generate more than $10 billion in revenue (2025), rising to $18 billion (2028) for a 76 percent growth rate.
The report predicts that while CCaaS revenue will rise 21 percent between 2024 and 2025, this expansion is expected to plateau in the ensuing three years, largely due to anticipated reduction in service innovation and over-saturation of service providers, as well as the consolidation of software as a service (SaaS) platforms.
CCaaS is a cloud-based contact center, provided by CSPs and leveraged by customer-facing enterprises, that centralizes inbound omnichannel communications onto a single contact center interface.
The research recognizes 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 AWS to include contact center services has created increased saturation in the CCaaS market.
To ensure organic growth in the space, the report recommends CCaaS vendors prioritize service innovation, including WFM and customer data platforms to reduce data siloes, in addition to introducing co-browsing and interactive calling initiatives to promote branded communications.
Check out Juniper’s Global CCaaS Market 2023-2028 report here.
