North America to Command Contact Center Analytics Market
The global contact center analytics market will grow at a healthy CAGR in the forecast period 2020- 2027, states the latest Market Research Future (MRFR) analysis. Contact center analytics, put simply, is a combination of customer experience analytics and speech analytics, thus it is mostly used by call centres for evaluating interaction and recognizing the communication gap with the customers to make proper improvements in the process.
Various factors are fuelling the global contact center analytics market growth. As per the recent MRFR market estimates, such factors include the increased compliance needs, proliferation of cloud computing, growing need for speech and text analytics, the need for better customer experience management solutions, contact centers improving the multichannel and cross channel customer experience, and various methods like voice chats, emails, and web chat gaining significance.
On the contrary, high investment cost in its products and services, impact of the COVID-19 pandemic, and data privacy rules and regulations may limit the global contact center analytics market growth over the forecast period.
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Market Segmentation
The MRFR report throws light on an inclusive segmental analysis of the contact center analytics market based on end users, application, organization size, deployment, and component.
By component, the global contact center analytics market is segmented into solutions and software. Of these, the solutions segment will lead the market over the forecast period.
By deployment, the global contact center analytics market is segmented into on-demand and on-premise. Of these, the on-premise segment will dominate the market over the forecast period.
By organization size, the global contact center analytics market is segmented into large, medium, and small. Of these, the large organization size will spearhead the market over the forecast period.
By application, the global contact center analytics market is segmented into real-time monitoring, customer experience management, risk management, workforce optimization, and others. Of these, the customer experience management segment will have the lions share in the market over the forecast period.
By end users, the global contact center analytics market is segmented into defense, IT and telecommunications, healthcare, BFSI, defense, retail, manufacturing, government, energy, hospitality, and others. Of these, the IT and telecommunications will command the market over the forecast period.
Regional Analysis
By region, the global contact center analytics market covers the recent trends and growth opportunity across Europe, North America, the Asia Pacific (APAC), and Rest of the World (RoW). Of these, North America will command the market over the forecast period. The presence of several key players, the presence of huge number of industries, growing adoption of contact center analytics solution and speech analytics to reduce operational costs, large operation base, the presence of large number of customer contact centers, increased adoption of new technological solutions, growing customer expectations, better customer experience management, and the growing adoption of cloud-based and on-premises based analytics solutions in most industries are adding to the global contact center analytics market growth over the forecast period.
In the APAC region, the global contact center analytics market is predicted to have admirable growth over the forecast period. Rising digitalization, growing disposable income, high adoption of smartphones and other mobile devices, demand for improved customer experience, and increasing number of small and medium enterprises are adding to the global contact center analytics market growth in the region.
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Key Players
Leading players profiled in the global contact center analytics market report include CallMiner (US), Servion Global Solution (India), Enghouse Interactive (US), NICE Ltd (Israel), SAP SE (Germany), Oracle Corporation (US), Mitel Networks Corporation (Canada), 8X8 Inc (US), Genesys (US), Genpact Limited (Bermuda), Verint Systems Inc.(US), and Cisco Systems Inc (US),among others.
The global contact center analytics market is fragmented along with being competitive owing to the presence of an array of international as well as domestic key players. These players have encompassed multiple strategies to remain at the forefront and also suffice to the burgeoning needs of the consumers, including partnerships, collaborations, geographic expansions, contracts, joint ventures, and new product launches, and more. Additionally, these players are also incurring heavy investments in RD activities for strengthening their portfolios and also creating a foothold in the market.
Industry Updates
June 2021- ENACOMM, FinTech enablement company has partnered with DialAmerica, a BPO contact center to offer comprehensive omnichannel support.
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