CF20: 2023's 20 Top CCaaS Providers You Should Know
NICE, RingCentral and Five9 all made our list. See who else did and why.
Contact-center-as-a-service (CCaaS) providers saw a surge in demand during the COVID-19 lockdown and they continue to benefit from that momentum with an ongoing transition to cloud-based solutions.
This is the result of the flexibility and resiliency that cloud solutions afford, in addition to advanced capabilities such as generative AI, which are typically cloud-based.
This is our fourth annual list focusing on CCaaS providers. Analysts share their views on what it takes to succeed with the technology. It includes an updated list and fresh views on changes in the competitive landscape.
According to Fortune Business Insights, the global CCaaS market should grow from less than $4.9 billion in 2022 to more than $15 billion by 2029 — a compound annual growth rate of 17.5%. The increase in cloud-based CCaaS adoption for global remote working is driving market growth.
Impact of Generative AI on CCaaS Providers
Raul Castanon, senior research analyst at 451 Research, part of S&P Global Market Intelligence, said while unquestionably disruptive, the impact of generative AI for CCaaS is likely more evolutionary than revolutionary, building on previous AI milestones and large language models (LLMs) that businesses have been using for several years.
451 Research’s Raul Castanon
“This gives companies and products like Dialpad, Twilio Flex, Salesforce’s Contact Center, Google Cloud’s Contact Center AI Platform, Microsoft’s Digital Contact Center Platform, Genesys Cloud CX and Zendesk a leg up,” he said. “These companies have a long trajectory with AI and numerous assets they can build upon. For instance, Dialpad acquired TalkIQ back in 2018 and Twilio acquired Segment in 2020.”
Generative AI levels the playing field, enabling players of all types to leverage AI and LLM, Castanon said.