Europe Contact Center as a Service (CCaaS) Market Value is Expected to Reach 2,249.0 Million Dollars by 2027

CIO Review Europe | Monday, December 07, 2020

Across Europe, many contact and call centers are replacing the traditional hosted infrastructure, this growing preference for cloud-based contact center solutions is the major driver for the market's growth

FREMONT, CA: Across Europe, many contact and call centers are replacing the traditional hosted infrastructure, which favors the CCaaS deployment model, this growing preference for cloud-based contact center solutions is the major driver for the market's growth. Moreover, small and medium businesses adopting cloud-based technologies serve towards market growth during the forecast period. Factors such as faster implementation, quicker deployment, higher flexibility, enhanced security and scalability, easy management of remote agents, data visibility, and real-time customization are key drivers for the adoption of cloud-based contact center solutions among large-scale organizations.  A comprehensive, intelligent, and unified cloud contact center solution that provides a seamless customer experience is the future vision for several European organizations. This growing demand for a service-driven data-center business model is another contributing factor for market growth.

In recent years, contact centers have been modernized by rapid technological development, yet it is crucial to combine contact center software solutions with the existing legacy systems. European organizations continue to spend a huge amount on maintaining their legacy system, as per the financial news, banks employ around 80 percent of their IT budget to maintain legacy technology and about USD 300 million for managing and maintaining these systems. On the other hand, traditional systems are not always suitable with third-party software, causing additional errors. Many end-users with the fear of losing data are hesitant at moving their traditional legacy systems to advanced solutions. To avoid all these system discrepancies and financial overheads, many end-users prefer traditional systems to switch to new technologies. Such factors related to integrating new technologies act as a hindrance to the widespread adoption of CCaaS.

The market is divided into many features based on function such as automatic call distribution, interactive voice response (IVR), computer telephony integration (CTI), customer collaboration, and more. Among them, the segment that is holding a majority market share for automated telephony systems across Europe is the interactive voice response (IVR) feature. This segment is trending in the CCaaS market owing to the factor that it helps organizations reduce operational costs and improve efficiency. Improvement in voice portals that offer speech-enabled self-service applications is contributing to the popularity of the IVR segment.

As contact center services enabled the delivery of international support, there is a rising demand for its multichannel functionality, additionally; it helps to drive customer satisfaction and to effectively contact the company with ultimate optimization. Another vital feature of any contact center as a service solution that offers uninterrupted voice telephony services by routing calls to the right agent is the Automatic Call Distribution. Furthermore, the Computer Telephony Integration (CTI) segment allows integration of a phone system with computer programs such as a Customer Relationship Management (CRM) platform. The above integration allows businesses to boost agent performance and efficiency, cutting down call-handling time and maximizing customer experience.

 

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