Contact Center Analytics Market to Expand at 19.3% CAGR from 2023-2030

Posted on 2023-03-15 by researchinsights in Technology // 0 Comments

San Francisco, California , USA, Mar 15, 2023 — /EPR Network/ —

Contact Center Analytics Industry Overview

The global contact center analytics market size was valued at USD 1.22 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 19.3% from 2022 to 2030.

The high demand for analytics among contact centers can be attributed to the benefits it offers, such as improved service quality and the ability to monitor service metrics from employee performance, call times, customer satisfaction, and efficiency. The growing use of social media platforms is also one of the major factors creating the demand for contact center analytics. Customer feedback posted on social media platforms through blogs, posts, and forums is analyzed using contact center analytics solutions, allowing companies to analyze social media content on a real-time basis.

This helps improve business processes and generate a competitive edge. At the same time, it helps companies understand the opinions expressed by the users, including the jargon, abbreviations, slang, and acronyms on social media. These factors are expected to drive the demand for contact center analytics among organizations. The growing demand for Artificial Intelligence (AI)-enabled contact center solutions is expected to create new opportunities for market growth. The ability of these solutions to reduce operational costs, provide actionable analytics, personalize the customer experience, and increase customer agent efficiency is expected to drive their importance and adoption in contact centers.

Gather more insights about the market drivers, restraints and growth of the Global Contact Center Analytics Market

AI is used in various contact center solutions, such as predictive call routing, interactive voice response, conversational AI, and emotional intelligence. AI is used in predictive call routing for matching contact center customers to specific customer service agents capable of handling an issue. Contact centers are expected to comply with the requirements framed by the agencies, such as the Payment Card Industry Data Security Standard (PCI-DSS). According to the PCI-DSS, contact centers are prohibited from recording the CVV2 numbers of cards along with other sensitive data of customers during a call. At the same time, contact centers are expected to provide the right training to their employees regarding the regulations issued by organizations, such as Telephone Consumer Protection Act (TCPA), Health Insurance Portability and Accountability Act (HIPAA), and PCI-DSS.

The rising focus of telecommunication companies worldwide on improving their first call resolution rates and increasing call deflection is also driving the demand for contact center analytics. The use of contact center analytics solutions to analyze customer backgrounds helps reduce the total interaction volume. At the same time, predictive analytics solutions are used to understand customer queries, which help companies improve first call resolution rates. In addition, it is also used for understanding the customer behavior and preferences to better serve their requirements.

Browse through Grand View Research’s Next Generation Technologies Industry Related Reports

Metaverse Market – The global metaverse market size was estimated at USD 65.51 billion in 2022. It is expected to expand at a compound annual growth rate (CAGR) of 41.6% from 2023 to 2030.
Deep Learning Market – The global deep learning market was valued at USD 49.6 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) exceeding 33.5% from 2023 to 2030.

Contact Center Analytics Market Segmentation

Grand View Research has segmented the global contact center analytics market on the basis of solution, service, deployment, enterprise size, application, end-use, and region:

Contact Center Analytics Solution Outlook (Revenue, USD Million, 2017 – 2030)

Cross-channel Analytics
Performance Analytics
Predictive Analytics
Speech Analytics
Text Analytics

Contact Center Analytics Service Outlook (Revenue, USD Million, 2017 – 2030)

Integration & Deployment
Support & Maintenance
Training & Consulting
Managed Services

Contact Center Analytics Deployment Outlook (Revenue, USD Million, 2017 – 2030)

Hosted
On-premise

Contact Center Analytics Enterprise Size Outlook (Revenue, USD Million, 2017 – 2030)

Large
SME

Contact Center Analytics Application Outlook (Revenue, USD Million, 2017 – 2030)

Automatic Call Distributor
Customer Experience Management
Log Management
Real-time Monitoring & Reporting
Risk & Compliance Management
Workforce Optimization
Others

Contact Center Analytics End-use Outlook (Revenue, USD Million, 2017 – 2030)

BFSI
Consumer Goods & Retail
Government
Healthcare
IT & Telecom
Travel & Hospitality
Others

Contact Center Analytics Regional Outlook (Revenue, USD Million, 2017 – 2030)

North America
Europe
Asia Pacific
Latin America
MEA

Key Companies profiled:

Some prominent players in the global Contact Center Analytics market include

8X8 Inc.
CallMiner
Cisco Systems, Inc.
Enghouse Interactive
Five9, Inc.
Genesys
Genpact Ltd.
Mitel Networks Corp.
Nice Ltd.
Oracle Corp.
SAP SE
Verint Systems Inc.

Order a free sample PDF of the Contact Center Analytics Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Matched content

Editor’s pick