Five9, NICE Among Top 5 CCaaS Leaders ID'd in New Report

Metrigy, the research and analysis firm, in a new report has named what it calls the industry's top contact-center-as-a-service (CCaaS) providers: NICE, Five9, Cisco, Genesys and AWS.

Rounding out the top 10 in the Metrigy report are Talkdesk, Vonage, 8x8, Content Guru and Twilio.

The analysts also named "providers to watch," calling out Dialpad, Sprinklr, Avaya, Microsoft, Zoom, UJET, Salesforce and Zendesk as CCaaS providers to keep an eye on.

The Metrigy report found that almost 36% of contact center operations leverage (CCaaS) as their primary platform, leaving the remaining 64% to use "either a single-server hosted platform that is managed by a third-party partner, or an on-premises contact center platform that they own and manage from their own or a hosting provider’s location."

To no one's surprise, the research found that CCaaS market share is increasing year-over-year. In 2023 the market reached $6 billion — up 23% from the previous year.

Forecasters at Metrigy say the market will grow at a 13% compound annual growth rate (CAGR) from 2023-2028, to $10.8 billion.

Metrigy's report ranks CCaaS leaders based on market share, financial strength, market momentum, product mix, customer sentiment and customer business success.

Metrigy Names Top 5 CCaaS Providers

In its CCaaS analysis, Metrigy called NICE "again the undisputed leader in the CCaaS MetriRank report."

It's the second year in a row for NICE in the top spot, thanks to the company owning the largest market share, having the most robust financials and other factors.

"The company also received the highest possible score for customer business success," the report's authors said.

Five9 came in a close second, also for the second year in a row, for its pure-play nature and being what the report called "highly focused on delivering the right mix of capabilities."

While Five9 is third in market share, the authors note that "Five9 gets an important jump due to the highest customer sentiment score and highest possible customer business success."

Cisco is only the ninth-largest CCaaS provider, yet it resides among the top 5 CCaaS providers, thanks in part to its financial might. Market momentum and customer sentiment are other contributing factors, according to the Metrigy report.

"With a history in on-premises contact center solutions, Cisco has an installed base of businesses to migrate to the cloud, which gives the company an advantage," the report said.

Genesys is ranked No. 4 and has the second-largest CCaaS market share while earning the highest possible marks for product mix, customer business success and above-average market momentum.

Since it is privately held, the Metrigy report notes that Genesys' financial strength is low.

"Without full exposure to its financials, it falls short in this area. Genesys has gone all-in with CCaaS, starting to phase out its on-prem products in 2023," the report stated.

And then there's AWS, which rounds out the list of top five CCaaS providers with its market share being the fourth-largest. It does boast solid financials and has leveraged the energy of its cloud infrastructure services and artificial intelligence (AI) to "successfully sell the Amazon Connect CCaaS service — initially to smaller companies but increasingly to larger ones."

Metrigy also noted that AWS has built a differentiated strategy via its Amazon Connect pay-as-you-go model, which consists of no long-term commitments, agent seats or minimums.