Contact Center Analytics Global Market to Reflect Enormous Growth

Market Research Future published a half-cooked research report on “Contact Center Analytics Market- Forecast to 2030” Market Analysis, Scope, Stake, Progress, Trends, and Forecast to 2030

Contact Center Analytics Global Market - Overview

Contact center analytics industry helps organization to reduce cost of the operations without affecting customer satisfaction. The Contact Center Analytics market industry is projected to grow from USD 2.2 Billion in 2023 to USD 9.1 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 9.16% during the forecast period (2023 - 2032). The performance of customer service representative is measured individually using contact center analytics, this helps to improve overall customer relationship management. Contact center analytics is a combination of speech analytics and customer experience analytics, hence it is mainly used by call centres to evaluate interaction and recognize the communication gap with the customers, so that the proper improvements can be done in the process. The driving factors for the growth of the contact center analytics market is the increasing demand for contact center solutions for customer experience management which supports organization in analysing essential insights of customer data. Also, increasing adoption of cloud computing, growing demand for text and speech analytics solutions, growing government compliances, are fuelling the market growth of contact center analytics.

Oracle’s Contact Center Telephony Analytics support organizations in gaining market insights which helps organization to scrutinize all aspects of contact center such as average call handle time, transfer rates, cost per contact, and revenue per agent. This solution provides key performance indicators, best-practice metrics and alerts which assist companies to take corrective actions and improve employee productivity, increase customer satisfaction and reduce cost of operation. The customer experience management application of contact center analytics provides combination of customer interaction, feedback, transactions and agent data to gain useful insights about customer journey. Hence, it is expected to show the highest growth among the applications in contact center analytics market.

Contact centers have evolved from basic stand-alone operations over a single channel to multi-channel for enhancing customer relationship management. The recent trends in contact center analytics market is the use of social media, as customers mostly use social media platforms to interact with organizations rather than using help lines, e-mail support. Therefore, the use of social media in contact center analytics is increasing, which is expected to grow the market.

Industry News

Mar 17, Contact Now: A new cloud contact center for teams is launched by 8X8 Inc.

8X8 Inc launched easy-to-use, intelligent and scalable cloud contact center solution for teams, Contact Now. This new cloud contact center solution provides companies flexibility with monthly pricing and pay-as-you-go models. 8X8 Contact Now is easy to setup that can handle inbound and outbound customer interactions in which calls are intelligently diverted to correct teams which allows them to deliver high level of service and increase orders.     

Aug 18, Mitel Network Corporation introduces MiCloud Engage Contact Center: a CCaaS platform to deliver more intelligent customer experience.

Mitel Networks Corporation introduces MiCloud Engage Contact Center, a highly insightful contact center-as-a-service (CCaaS) platform. This solution integrates with various third-party CRM applications and can work with any call control platform. This solution powers omnichannel communication and integrates innovative technologies with real-time reporting and deep analytics.

Jul 18, Five9 expands its partnership with Fuze a unified cloud-based communication as a service provider.

Fuze a cloud-based communication as a service provider expands its partnership with Five 9 which provides cloud contact center software. This partnership includes integration of Five9 contact center as a service (CCaaS) with Fuze unified communication as a service (UCaaS), providing end-to-end communication experience for support and sales teams. s

Key Player:

The prominent players in the global contact center analytics market are Cisco Systems Inc (US), Verint Systems Inc.(US), Genpact Limited (Bermuda), Genesys (US), 8X8 Inc (US), Mitel Networks Corporation (Canada), Oracle Corporation (US), SAP SE (Germany), NICE Ltd (Israel), s (US), Enghouse Interactive (US), Servion Global Solution (India), CallMiner (US), and among others, are profiled in Market Research Future analysis and are at the forefront of competition in the robotic vision market.

Contact Center Analytics Global Market - Segmentation

Segmentation by Component: Software and Solutions.

Segmentation by Deployment: On-Premise and On-demand.

Segmentation by Organisation Size: Small, Medium and Large.

Segmentation by Application: Workforce Optimization, Risk Management, Customer Experience Management, Real-time Monitoring and Others.

Segmentation by End-Users: BFSI, Government, Retail, Healthcare, Manufacturing, IT & Telecommunications, Hospitality, Defence, Energy, and Others.

Segmentation by Region: North-America, Europe, Asia-Pacific, Rest of the World.

Contact Center Analytics Global Market -

Regional Analysis

The regional analysis of contact center analytics market is studied for North America, Europe, Asia Pacific and Rest of the World.

North America is expected to dominate the market of contact center analytics due to presence of large number of key players such as Oracle Corporation, Cisco Systems Inc, 8X8 Inc in the region. Moreover, North America has large number of industries who have operation base and contact centers in this region which is expected to support the dominance of this region.

Asia-Pacific is expected to show the highest growth in contact center analytics market as in this region the call center operations are increasing owing to adoption of speech analytics and contact center analytics solution to reduce the operation cost.