CCaaS platform subscriptions to generate $18 billion in revenue by 2028

A new study from Juniper Research, the foremost experts in telecommunications market, has found CCaaS (Contact Centre-as-a-Service) subscription services will generate over $18 billion in revenue by 2028; from $7.5 billion this year.

The report predicts growing support for inbound communication channels, such as RCS and OTT messaging apps, will drive adoption of CCaaS subscription services, and thus subscription revenue.

CCaaS is a cloud-based contact centre provided by CSPs and leveraged by customer-facing enterprises. It centralises inbound omnichannel communications onto a single contact centre interface.

CCaaS Must Mitigate Data Siloes
To capitalise on this market growth of over 110% over the next five years, CCaaS players must differentiate themselves by implementing additional services over their platforms.

In particular, the report identified the introduction of CDPs (Customer Data Platforms) and WEMs (Workplace Engagement Management platforms) as key technologies enabling CCaaS platforms to reduce data siloes between different communication platforms; improving business performance and attracting high‑spending CCaaS enterprise users.

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

The report recommends 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 SaaS markets, such as CPaaS (Communication Platforms-as-a-Service). Juniper Research