CCaaS platform subscriptions to generate $18bn revenue by 2028

Contact-centre-as-a-service (CCaaS) subscriptions will leap from $7.5bn at the end of 2023 to generate over $18bn in revenue by 2028, driven by growing support for inbound communication channels, such as rich communications services (RCS) and over-the-top (OTT) messaging apps, according to a study by Juniper Research.

The Global CCaaS market 2023-2028 report defines CCaaS as a cloud-based contact centre provided by communications service providers and utilised by customer-facing enterprises. It centralises inbound omnichannel communications onto a single contact centre interface. 2023 has been a year of steady growth for CCaaS as companies upgraded and enhanced platforms to improve customer service levels.

Specifically, as modernising end-user computing and experience management is necessary to bring about greater IT and business alignment, firms are aiming to increase their productivity and customer engagement with reliability, agility and scale. CCaaS is at the heart of this drive, says the research.

Advocates of RCS have regarded the technology – the next generation of mobile messaging, included in the latest GSMA 5G standard – as promising to enable operators and brands to increase subscriber engagement and create new revenue. It not only incorporates advanced multimedia capabilities into text messages, but also across multiple apps from a single messaging platform and with a single contact list.

Yet the Juniper report warns that to capitalise on forecast market growth of more than 110% over the next five years, CCaaS players must differentiate themselves by implementing additional services over their platforms and mitigate data silos.

In particular, the study identified the introduction of customer data platforms (CDPs) and workplace engagement management platforms as key technologies enabling CCaaS to reduce data silos between different communication platforms, improving business performance and attracting high-spending CCaaS enterprise users.

“CCaaS platforms are anticipated to handle 470 trillion interactions across technologies including SMS, RCS, chatbots, email and OTT messaging apps in 2024,” said report author Elisha Sudlow-Poole. “CCaaS vendors must ensure frictionless communication, which can only be achieved by introducing solutions to reduce the friction of data sharing between services.”

Going forward, the report recommended CCaaS vendors take a strategic approach to development, distinguishing between which value-added services are built in-house and which can be delivered through APIs and/or third-party partners. This will ensure CCaaS capabilities remain competitive and can grow along with other established software-as-a-service markets, such as communications platform as a service (CPaaS).

CPaaS typically includes SMS, voice, chat apps, video and performance monitoring, allowing businesses to better communicate with customers with real-time video communication in particular, generating a better understanding of customer issues.