Shared todayAI seriesIn-depth Research Report:AI Track: How AI will bring innovation to the contact center-as-a-service CCaaS market in 2024***
Report produced by Juniper).
Report total: 10 pages.
Featured Report**: The School of Artificial Intelligence
Because CCaaS offers flexibility, this allows brands and businesses to keep investment costs low while expanding customer support capabilities. Previously, deploying an on-premise contact center solution meant that deploying new avenues of communication was often complex and time-consuming. However, with the use of CCAaaS, and the rise of as-a-service solutions, brands and businesses are able to immediately change their business models, providing new opportunities.
In addition, migrating your contact center infrastructure to the cloud will make it easy to adopt new features and technologies. These technologies will include artificial intelligence and automation, which will allow the voice cloud to provide recommended solutions and provide the next best action for agents who are currently working on customer queries. In addition, the ability to leverage voice AI in CCaaS will allow users to view all calls and digital conversations in real-time, while also monitoring call routing and purging.
In addition, the CCaaS platform will provide interoperability between networks, as users will be able to choose the carrier of their choice while maintaining their existing provider or using other features, providing interoperability between operator networks.
Prior to the pandemic, the main focus of the call center market was**. However, during and after the pandemic, there has been a shift in the environment in which brands and businesses work together. With the transformation of the contact center landscape, the mobility and responsiveness of Shiqianyun's contact center solutions have also received great attention. With this, Juniper Research expects that CCAaaS vendors will continue to build on core products, as well as rich messaging channels to provide a solid CCaaS solution.
The rising expectation of excellent customer service has led to an increase in cloud-center contact center services and the application of advanced technologies, including artificial intelligence, to increase the seamlessness of interaction and self-service options, including chatbots and voicebots.
While the CCaas platform must employ multiple channels to support brands and businesses' omnichannel communication strategies, including SMS, RCS, OTT messaging apps, and chatbots, JuniperResearch notes that the success of the CCaaS platform does not depend on traffic to these messaging channels. Instead, success will depend on the number of channels offered and the complexity of additional managed services, including security, co-browsing, artificial intelligence, and workforce management.
Since the CCaaS platform is unable to generate revenue from traffic, they have to rely on subscriptions to generate revenue. Therefore, if CCaaS providers want to succeed in the market, they must continue to innovate and diversify their service offerings, or risk being robbed of traffic by competing CCaaS platforms that can offer emerging technologies. This will ensure that their subscriptions offer an attractive value proposition for brands and businesses.
While customers are increasingly using mobile channels and chatbots to connect with businesses, there is a growing demand for delivering and managing these contact center services through third-party service providers. This has led to a significant rise in the CCaaS market.
The small-to-medium enterprise market is key to the growth of telcos due to the saturation of the telecom market with service providers. In fact, the digital transformation needs of these businesses present them with a huge revenue opportunity, especially for inbound call management in contact centers. However, as these companies continue their digitalization and growth strategies, it is imperative for contact centers to integrate inbound messaging systems into their product portfolios. With many call centers neglecting to upgrade advanced communication management solutions to their systems, this creates a significant opportunity for CCaaS providers in the market.
As a result, Juniper Research recognizes that the SME market cannot be overlooked as a focus area, as managing the mobility of inbound communications is key to the digitalization of the communications market. As a result, there is an urgent need for CCaaS platforms to have a dynamic portfolio that can handle the traffic and complexity of large enterprises, while also ensuring they have the infrastructure to scale their SME contact center infrastructure.
While it's valuable to consider how CCaaS services are being used in different industries, Juniper Research believes that it's not necessary for CCAaaS vendors to develop different product stacks for different industries. These vendors ensure that their services are flexible to suit the key use cases of each industry.
In addition, in interviews with leading CCAAs, Juniper Research recognized that while CCAAG companies must target some core industries, including retail, hospitality, and hospitality, a number of other industries are also highlighted as key growth areas.
While CCaaS must avoid pigeoning itself into a particular market, it can be a differentiator for competitors if CCAAS can provide industry specificity. In the banking and financial services sector, for example, there is a great need for thorough regulatory and verification services. Therefore, if CCAAS vendors want to target this space, they must demonstrate strong security measures and compliance when presenting their products to new customers.
The CCAAS subscription service will generate more than $18 billion in revenue by 2028 and $7.5 billion this year.
Increasing support for inbound communication channels such as RCS and OTT messaging applications will drive the adoption of CCaaS subscription services, thereby increasing subscription revenue.
CCaaS is a cloud-based contact center provided by CSPs and used by customer-facing enterprises. It centralizes inbound omnichannel communications onto a single contact center interface.
Report total: 10 pages.
Featured Report**: The School of Artificial Intelligence