The contact centre-as -a-service (CCaaS) market will experience phenomenal growth in the next five years with revenue reaching US$15.6 billion by 2027, a 216% increase over the US$4.9 billion revenues expected this year.
Based on a new study by Juniper Research, the growth of the market will be driven by the breadth of services offered within comprehensive subscription-based models, including advanced analytics capabilities, AI-enabled chatbots and personalised video solutions.
CCaaS platforms are cloud-based solutions that provide services required to run a contact centre over multiple inbound and outbound communication channels.
The new study found that based on criteria such as depth and breadth of offerings, service innovation and future prospects, Twilio occupies the top spot in the market, followed by CM.com and Infobip.
Twilio has built a flexible CCaaS product offering by supporting multiple OTT messaging applications and voice services. Juniper Research commended Twilio on its intelligent routing and performance-tracking capabilities, which are key in supporting enterprise adoption of omnichannel communications strategies.
“Offering unique innovative services is not enough to stand out in the market. Enterprises will choose their preferred solution based on the comprehensiveness of the value-added services available. As a result, vendors must look to expand the solutions offered via their CCaaS platform to provide crucial differentiation in a highly competitive market,” said research author Elisha Sudlow-Poole.
Meanwhile, the research predicts that social media platforms, such as Instagram and Facebook, will become an important medium for enterprises to interact with their customers in the future.
Juniper Research urges CCaaS vendors to integrate inbound communications from these channels into their solutions immediately to provide the maximum reach to end users for CCaaS clients. Offering omnichannel functionality will enable CCaaS vendors to strengthen product portfolios, mirroring the success of the CPaaS (Communications Platform-as-a-Service) ecosystem.
