Avaya, Nice inContact and Microsoft are some of the companies impacted by a pending spike in the CCaaS market. Contact-center-as-a-service sales revenue should top $17.1 billion by 2030; that’s a compound annual growth rate (CAGR) of more than 18%. These are the findings from a new report by Grand View Research.

Businesses continue to adopt cloud-based contact centers because of benefits such as reduced integration, support and IT-related costs. Numerous companies are developing cloud contact centers to enhance functionality and flexibility for users.

Additionally, several CCaaS providers are entering into partnerships with communication companies to deploy contact center software and expand their reach. One example includes Talkdesk. In April 2021, the company announced a partnership with Welltel, a communication and IT company based in Ireland. Under the partnership, Welltel offers Talkdesk cloud contact center solutions to companies on the Emerald Isle.

As the pandemic continues, cloud-hosted contact centers continue to gain more traction. They provide better levels of reliability, availability and disaster recovery, Grand View notes. Also, agents can access the tools they need to perform the job from any place. Moreover, cloud-hosted contact centers provide better workforce elasticity for easily scalable solutions and faster deployment of new capabilities and technology solutions. However, increasing concerns about data security will likely hamper the market growth through 2030. CCaaS solutions handle huge data volumes and critical financial data of consumers, which could be at risk of malicious attacks.

“Key players” in CCaaS, as identified by Grand View Research, are Alcatel Lucent Enterprise, Avaya, Cisco, Enghouse Interactive, Five9, Genesys, Microsoft, Nice inContact, SAP and Unify.

More Study Findings