The global contact center analytics market is expected to grow at a significant CAGR during the forecast period (2021-2027). The features of contact center analytics systems include arranging, analysing, and recording client data in order to find a pattern or predict future results. Customer data analysis allows businesses to get critical insights that support them to improve the customer experience. Furthermore, market expansion is likely to be fueled by rising need for better customer experience management solutions. During the forecast period, various factors such as rising demand for text and speech analytics solutions and the expansion of cloud computing are expected to fuel market growth. Text and speech analytics tools assist firms in efficiently responding to client needs while also enhancing operational efficiency.
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These systems also assist organisations in tracking the quality of every customer-employee interaction, allowing them to optimise operations and decrease costs. To improve client experience, many small and medium businesses are implementing these solutions. Contact centre analytics solutions are being used by a growing number of companies around the world to streamline processes. Businesses must properly manage their workforces in order to effectively engage with customers. To manage their workforces, contact centres employ analytical tools such as Key Performance Indicators (KPIs) and other data. The increasing demand for contact centre workforce performance management software is further likely to drive market growth during the forecast period.
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To customize and differentiate the solution offerings for potential clients, market participants are focused on innovation. Further, the companies are also including technologies such as Natural Language Processing (NLP), Artificial Intelligence (AI), and machine learning into their products so that they can provide efficient solutions to their consumers. To maintain the customers, the market players are also concentrating on providing excellent training, consulting, and support and maintenance services. Some of the main strategies used by the competitors to obtain a competitive advantage in the market include new product launches, mergers and acquisitions, and others. For instance, in October 2020, Hinduja Global Solutions (HGS) declared the launch of HGS PULSE, a new contact center analytics platform that provides business performance and customer insights using near-real-time data. HGS PULSE brings together disparate data sources into one single, accurate view of operations and customer insights. This leads to a 40% rise in customer reporting efficiency.
Market Coverage
- The market number available for – 2020-2027
- Base year- 2020
- Forecast period- 2021-2027
- Segment Covered
- Regions Covered- Globally
- Competitive Landscape: Genpact Ltd., Cisco Systems, Inc., Oracle Corp., Verint Systems, Inc., among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Contact Center Analytics Market Report Segmentation
By Application
- Automatic Call Distributor
- Customer Experience Management
- Log Management
- Real-time Monitoring & Reporting
- Risk & Compliance Management
- Others
By End-User
- BFSI
- Consumer Goods & Retail
- Government and Defense
- Healthcare
- IT & Telecom
- Manufacturing
- Travel & Hospitality
- Other
This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.
