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A new study from Juniper Research has revealed that the global CCaaS (Contact Center as a Service) market revenue will reach $15.6 billion by 2027; growing from $4.9 billion in 2022. This phenomenal growth of 216% will be driven by the breadth of services offered under comprehensive subscription models, including advanced analytics capabilities, web-enabled chatbots AI and custom video solutions.

CCaaS platforms are cloud-based solutions that provide the services needed to operate a contact center across multiple inbound and outbound communication channels.

According to the report, Twilio, and Infobip were ranked among the top providers.

Twilio has built a flexible CCaaS product offering by supporting multiple OTT messaging apps and voice services. Juniper Research praised Twilio for its intelligent routing and performance monitoring capabilities, which are critical to supporting enterprises’ adoption of omnichannel communication strategies.

Research author Elisha Sudlow-Poole remarked “Offering unique innovative services is not enough to stand out in the market. Businesses will choose their preferred solution based on the comprehensiveness of value-added services available. As a result, vendors should seek to extend the solutions offered through their CCaaS platform to provide critical differentiation in a highly competitive market..

Research predicted that social media platforms, such as Instagram and Facebook, will become an important way for businesses to interact with their customers in the future. In turn, he urged CCaaS providers to immediately integrate inbound communications from these channels into their solutions to provide the maximum reach to end users for CCaaS customers. Offering omnichannel capabilities will enable CCaaS providers to strengthen product portfolios; reflecting the success of the CPaaS (Communications Platform-as-a-Service) ecosystem.