Number crunchers at Juniper Research have added up some numbers, divided them by their shoe size, and realised that Contact Centre-as-a-Service is about to rake in a whopping $10 billion subscription revenue by 2025.
It will balloon to an eye-watering $18 billion by 2028. That’s a stonking 76 per cent growth!
Juniper said that while the moolah from CCaaS is predicted to shoot up by 21 per cent between 2024 and 2025, this rocketing rate will hit the brakes 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 this nifty cloud-based gizmo provided by CSPs (Communication Service Providers) that’s a godsend for businesses dealing with customers. It’s like having a digital switchboard that handles all the natter from emails, calls, you name it, all in one place.
The report added that there is too much wheeling and dealing in the CCaaS market, with mergers and takeovers left, right, and centre. Everyone’s scrambling to create a one-stop-shop SaaS platform that does the lot, from chinwags to team huddles. With Microsoft and Amazon Web Services also sticking their oars in, the market’s getting as crowded as a rush-hour Tube.
Juniper said that CCaaS vendors must up their game with fresh tricks, like better managing the troops and sorting out customer data to avoid the right mess. They’re also banging on about jazzing up how businesses chat with punters.
Research author Elisha Sudlow-Poole 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.”
