Market Overview:

According to Market Research Future (MRFR), the global contact center analytics market Size of USD 7.8 Billion is estimated that CAGR share of 19.10% by the end of the Forecast year 2022-2030. The report discusses the present situation and the growth opportunities of the global contact center analytics market. The study offers insights into COVID-19, considering shifts in customer behavior and demand, buying trends, complexities of emerging market forces, and significant government interventions. The latest report offers information, projections, and forecast, taking into account the effect of COVID-19 on the market.

Contact center analytics are often used to measure customer service representatives' performance, both individually and as a whole. Analytics is used better to understand the overall approach of customer experience management. In general, call centers are used to analyze interactions and define gaps so that adequate corrections can be made. The call center analytics helps organizations solve everyday obstacles.

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Competitive Analysis of the Global Market

In the Global Contact Center Analytics Market, some top key players are:

  • Oracle Corporation (US)
  • SAP SE (Germany)
  • NICE Ltd. (Israel)
  • Genpact Limited (Bermuda) 
  • Genesys (US), 8X8 Inc. (US) 
  • Cisco Systems, Inc. (US)
  • Enghouse Interactive (US)
  • Servion Global Solutions (India)
  • Verint Systems Inc. (US)
  • Mitel Networks Corporation (Canada)
  • Five9, Inc. (US)
  • CallMiner (US)

Market Dynamics:

Factors promoting the growth of the market for contact center analytics are growing demand for better customer experience management solutions, allowing businesses to gain valuable insights to enhance customer experience and the expansion of cloud computing. In addition, factors such as increasing demand for various analytical solutions and rising compliance requirements are anticipated to propel the growth of the market for contact center analytics over the 2017-2023 forecast period.

In turn, in the next few years, contact centers will enhance the multi-channel and cross-channel customer experience. Customers use a variety of methods, such as email, voice chat, and webchat.

Market Segmentation:

The global market for contact center analytics has been segmented into component, deployment, organization size, application, and end-users.

Based on components, the global market for contact center analytics has been segmented into software and solutions.

Based on deployment, the global market for contact center analytics has been segmented into on-premises and on-demand.

Based on organization size, the global market for contact center analytics has been segmented into small, medium, and large

Based on application, the global market for contact center analytics has been segmented into workforce optimization, risk management, customer experience management, real-time monitoring, and others. 

Based on end-users, the global market for contact center analytics has been segmented into BFSI, government, retail, healthcare, manufacturing, IT & telecommunications, hospitality, defense, energy, and others.

Regional Analysis:

Region-wise, the global market for contact center analytics has been segmented intoNorth America, Europe, Asia Pacific, and the rest of the world.

North America captured the largest market share in the global market for contact center analytics due to increased acceptance of innovative technology solutions, regional growth in customer experience management and growing consumer expectations, a hub for large-scale operations and customer contact centers and increasing adoption of cloud-based analytics solutions across various industries.

The Asia Pacific is projected to rise at a rapid pace over the 2022-2030 forecast period.

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Contact Center Analytics Industry Developments:

The rise of artificial intelligence (AI). AI is already being used in contact centers to automate tasks, improve customer service, and identify potential problems. In 2023, we can expect to see even more AI-powered analytics solutions, which will help contact centers to make better decisions and deliver a more personalized customer experience.

The growth of cloud-based analytics. Cloud-based analytics is becoming increasingly popular in the contact center industry, as it offers a number of advantages over traditional on-premises solutions. Cloud-based analytics is more scalable, more secure, and easier to manage. It also allows contact centers to access real-time data from anywhere, which can help them to make better decisions faster.

The increasing focus on customer experience (CX). CX is becoming increasingly important for businesses of all sizes. In 2023, we can expect to see contact centers place even more emphasis on CX, using analytics to identify and address customer pain points. This will help them to improve customer satisfaction and loyalty.

The adoption of new data sources. Contact centers are increasingly using new data sources, such as social media, to gain insights into customer behavior. This data can be used to improve customer service, target marketing campaigns, and identify new opportunities.

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