Overview and Scope
Contact center analytics refers to the process and tools that firms like contact centers use to gain business performance insights by tracking, collecting, and managing various service metrics such as call times, employee performance, efficiency, and customer satisfaction. The data is used by organizations operating in call center analytics to formulate customer-centric strategies for business efficiency
Sizing and Forecast
The contact center analytics market size has grown rapidly in recent years. It will grow from $1.95 billion in 2023 to $2.27 billion in 2024 at a compound annual growth rate (CAGR) of 16.8%. The growth in the historic period can be attributed to shift towards cloud-based solutions, customer-centric focus, multichannel communication analysis, operational efficiency optimization, speech and sentiment analysis adoption.
The contact center analytics market size is expected to see rapid growth in the next few years. It will grow to $4.26 billion in 2028 at a compound annual growth rate (CAGR) of 17.0%. The growth in the forecast period can be attributed to increasing emphasis on customer experience, rise in omnichannel communication analysis, demand for real-time insights, continued focus on operational efficiency.. Major trends in the forecast period include scalability and cloud adoption, personalization and customer segmentation, employee performance enhancement, speech and sentiment analysis, compliance and security monitoring, advancements in ai and machine learning integration.
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Segmentation & Regional Insights
The contact center analytics market covered in this report is segmented –
1) By Component: Software, Services
2) By Deployment Mode: Cloud, On Premise
3) By Enterprise Size: Large Enterprises, Small and Medium Enterprises
4) By Applications: Automatic Call Distributor, Log Management, Risk and Compliance Management, Real-time Monitoring and Reporting, Workforce Optimization, Customer Experience Management, Other Applications
5) By Verticals: BFSI, Healthcare and Life Sciences, Manufacturing, Retail and Consumer Goods, Energy and Utilities, Telecom and IT, Travel and Hospitality, Government and Defense, Other Verticals
North America was the largest region in the contact center analytics market share in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the contact center analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increase in demand for predictive analytics and real-time monitoring is expected to propel the growth of the contact center analytics market going forward. Predictive analytics and real-time monitoring are the process of extracting useful information from various external and internal data sources in real-time to predict future outcomes and carry out efficient business operations. Predictive analytics and real-time monitoring help contact center analytics identify opportunities and enhance their business operations, such as better customer experience, improving customer retention rates, developing strategies, and others. For instance, in July 2021, an article published by Al Reyami Technologies LLC, a UAE-based IT Solutions company, approximately 52% of businesses use advanced and predictive analytics to offer better operational insights and contextual intelligence. Therefore, the increase in demand for predictive analytics and real-time monitoring is driving the growth of the contact center analytics market.
Key Industry Players
Major companies operating in the contact center analytics market report are Cisco Systems Inc., Genpact, Oracle Corporation, Avaya Holdings Corp., NICE Ltd., SAP SE, 8×8 Inc., Talkdesk, Genesys Telecommunications Laboratories Inc., CallMiner, Enghouse Interactive Inc., Five9 Inc., Verint Systems Inc., Mitel Networks Corporation, Servion Global Solutions, Aspect Software Inc., Clarabridge Inc., Calabrio Inc., ZOOM International, Clarify360, Sabio Ltd., Voci Technologies, Xdroid, Pindrop Security, Cognitivescale, Uniphore, Observe.AI, Gridspace, VoiceBase, Deepgram, Cresta AI, DIALPAD INC., Adastra Corporation
The contact center analytics market report table of contents includes:
1. Executive Summary
2. Contact Center Analytics Market Characteristics
3. Contact Center Analytics Market Trends And Strategies
4. Contact Center Analytics Market – Macro Economic Scenario
5. Global Contact Center Analytics Market Size and Growth
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26. South America Contact Center Analytics Market
27. Brazil Contact Center Analytics Market
28. Middle East Contact Center Analytics Market
29. Africa Contact Center Analytics Market
30. Contact Center Analytics Market Competitive Landscape And Company Profiles
Top Major Players:
- Cisco Systems Inc
- Genpact
- Oracle Corporation
- Avaya Holdings Corp
- NICE Ltd
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