The Contact Center Analytics Global Market Report 2023 by The Business Research Company, provides contact center analytics market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Contact Center Analytics Global Market Report 2023, the global contact center analytics market is expected to grow from $1.65 billion in 2022 to $1.93 billion in 2023 at a compound annual growth rate (CAGR) of 16.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the contact center analytic market is expected to grow to $3.53 billion in 2027 at a CAGR of 16.3%.
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 is 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.
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The contact center analytics market is segmented:
1) By Component: Software, Services
2) By Enterprise Size: Large Enterprises, Small and Medium Enterprises
3) By Deployment Mode: Cloud, On Premise
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
New product innovation is the key trend gaining popularity in the contact center analytics market. Major companies operating in the contact center analytics market are focused on innovating new products that could provide better solutions for contact center analytics used in call centers or businesses involving high volume calls and strengthen their position. For instance, in December 2020, Avaya Holdings Corp, a US-based multinational company operating in the contact center and unified communication solutions organization, introduced its unique contact analytics integrated with Oracle Cloud Stack known as Avaya Analytics 4.1. The unique features of Avaya Analytics 4.1 enable enterprises to derive current business measures from real-time event collection and processing, allowing supervisors in contact centers to analyze trends to improve agent performance. It displays the contact center site’s performance overview on dashboards in Avaya IX Workspaces for Oceana’s current contact center performance information in real-time, which helps in monitoring the statistics.
The global contact center analytics market is expected to grow from
1) By Component: Software, Services
2) By Enterprise Size: Large Enterprises, Small and Medium Enterprises
3) By Deployment Mode: Cloud, On Premise
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
The contact center analytics market report table of contents includes:
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