Contact Center Analytics Market

Contact Center Analytics Market by Solutions (Predictive Analytics, Cross-channel Analytics, Speech Analytics, Performance Analytics, and Text Analytics), Services (Integration & Deployment, Training & Consulting, Support & Maintenance, and Managed Services), Deployments (On-premise and Hosted), Enterprise Sizes (Small & Medium Enterprises and Large Enterprises), Applications (Log Management, Automatic Call Distributor, Real-time Monitoring & Reporting, Customer Experience Management, Workforce Optimization, Risk & Compliance Management, and Others), End-users (Government, BFSI, Healthcare, Consumer Goods & Retail, Travel & Hospitality, IT & Telecom, and Others), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021-2028

  • Report ID: ICT-SE-2160
  • Author: Growth Market Reports
  • Rating: 4.9
  • Total Reviews: 2
  • No. Of Pages: 155
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The global contact center analytics market size was valued at USD 1.00 billion in 2020 and is estimated to expand at a substantial CAGR over the forecast period, 2021-2028. The growth of the market is due to the rising demand for improved and better solutions for customer experience management.


Contact Center Analytics Market By Key Takeaways

To get a forecast future outcome or pattern, contact center analytics solutions are used by numerous businesses to capture, analyze, and structure the customer data that improve the response management of customers by matching the thought processes of employees and the management. Contact center analytics can also be defined as an integrated pack of tools acquired by the contact center segment of various businesses to achieve productive operational performances. These solutions integrate customer data from various enterprise systems and customer channels. These collected data on customers helps the companies to obtain important insights that help them to improve the customer experience. Various operational performances and customer requirements are addressed and improved by the usage of text and speech analytics solutions. The service quality of the interaction between the customer and the employee can be monitored by using such solutions that eventually help in the reduction of operational issues occurring in the streamlined businesses. To enhance the streamlining processes, contact center analytics solutions are adopted by several businesses worldwide.

One of the major requirements of a business is the effective management of its workforce in order to achieve effective communication with customers. Key Performance Indicators (KPIs) and other metrics are the analytical tools that are used by contact centers to manage the workforce. One of the major goals of numerous companies is to improve the first call response and this can be achieved by training the employees to address the concerns of the customers in a minimal amount of time along with providing insights into new service offerings and new products. The customer information can be secured from identity theft by using the Payment Card Industry Data Security Standard.

Market Trends, Drivers, Restraints, and Opportunities

  • Rising demand for text and speech analytics along with increasing usage of cloud computing is anticipated to propel the market growth over the forecast period.
  • The obligation of businesses to improve first call response is estimated to drive the market expansion in the coming years.
  • Increasing adoption of contact centers by the small and medium enterprises for improving customer experience and their need for management of performance is expected to boost the market growth.
  • Contact center analytics needs high-cost investments and lacks privacy of consumers data which are key challenges that can restrain the market growth during the forecast period.
  • Contact centers lack a clear and comprehensive approach which is expected to restrain the market growth over the forecast period.
  • Increasing investments by major players in the research & development activities for the updating and innovating solutions and products is projected to create lucrative opportunities for the market.

Scope of the Report

The report on the global contact center analytics market includes an assessment of the market, trends, and segments. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Contact Center Analytics Market – Global Industry Analysis, Growth, Share, Size, Trends, And Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Solutions (Predictive Analytics, Cross-channel Analytics, Speech Analytics, Performance Analytics, and Text Analytics), Services (Integration & Deployment, Training & Consulting, Support & Maintenance, and Managed Services), Deployments (On-premise and Hosted), Enterprise Sizes (Small & Medium Enterprises and Large Enterprises), Applications (Log Management, Automatic Call Distributor, Real-time Monitoring & Reporting, Customer Experience Management, Workforce Optimization, Risk & Compliance Management, and Others), and End-users (Government, BFSI, Healthcare, Consumer Goods & Retail, Travel & Hospitality, IT & Telecom, and Others)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

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

Market Segment Insights

Performance analytics segment is anticipated to register a significant growth

On the basis of solutions, the contact center analytics market is segmented into predictive analytics, cross-channel analytics, speech analytics, performance analytics, and text analytics. The speech analytics segment dominated the market in 2019 and is expected to continue its dominance over the forecast period owing to increasing real-time speech analytics solutions and rising focus on the satisfaction of customers. Speech analytics solutions help in the analysis of recorded conversations to find the solution of customers’ issues and resolve them. On the other hand, the performance analytics segment is anticipated to register a significant growth attributed to its wide adoption among the contact centers. Performance analytics enables the handling of various communication channels simultaneously and keeps a consistent record of conversations amid the channel format.

Managed service segment is expected to exhibit a high growth

Based on services, the market is divided into integration & deployment, training & consulting, support & maintenance, and managed services. The integration & deployment segment led the market in 2019 and is anticipated to continue its lead in the coming years due to the growing adoption of solutions provided by contact center analytics. Integration & deployment services provide unique access to the businesses to access the customer data along with providing data privacy by the incorporation of advanced technology in various operations of the business. However, the managed service segment is anticipated to exhibit a high growth as it enables a business to focus on the improvement of operational efficiency, growing effectiveness of the technology. These solutions also provide tools based on intellectual property that helps to secure customer data.


Contact Center Analytics Market By Services

Hosted segment is anticipated to register a high growth

On the basis of deployments, the contact center analytics market is bifurcated into on-premise and hosted. The on-premise segment held a high share of the market in 2019 owing to its wide adoption among the contact centers as it provides several benefits that include easy deployment and less capital investment. On the other hand, the hosted segment is anticipated to register a high growth due to its preference over the other deployment solution as it is totally hosted by the server of the vendor and can be only accessed when an individual has authorization. The operational and technical needs of the contact center of a business can be managed by using hosted deployment.

Small & medium enterprises segment is expected to grow at a rapid pace

Based on the enterprise sizes, the market is divided into small & medium enterprises and large enterprises. The large enterprise segment led the market in 2019 due to the increased acquisition of analytics solutions in such enterprises as they help in the management of data customer interactions that are available in high volume. However, the small & medium enterprises segment is expected to grow at a rapid pace attributed to the increasing adoption of contact center analytics solutions among such enterprises in order to provide enhanced and effective customer services.

Workforce optimization segment is anticipated to exhibit a robust growth

On the basis of applications, the contact center analytics market is segmented into log management, automatic call distributor, real-time monitoring & reporting, customer experience management, workforce optimization, risk & compliance management, and others. The customer experience management segment held a key revenue share of the market in 2019 as it provides various solutions that help in the analysis of agent performance and customer experience report. These solutions include customer interaction, transaction, feedback, and data of agent. These solutions also help the agents to detect and analyze the behavioral patterns that are cross-channel and reduce the efforts of the customers. On the other hand, the workforce optimization segment is anticipated to exhibit a robust growth as it helps businesses to optimize the operations of their workforce by providing numerous solutions including performance management, interaction analytics, and quality management.


Contact Center Analytics Market By Applications

Consumer goods & retail segment is expected to expand at a fast pace

Based on the end-users, the market is divided into government, BFSI, healthcare, consumer goods & retail, travel & hospitality, IT & telecom, and others. The IT and telecom segment held a major share of the market in 2019 owing to the increased adoption of contact center analytics solutions in the segment as it bestows business with process automation capabilities. However, the consumer goods & retail segment is expected to expand at a fast pace owing to its increasing acquisition in the segment as they quickly review the requirements or issues of the customers and provide relevant solutions to them.


Contact Center Analytics Market By End Users

Asia Pacific market is estimated to show a rapid growth

In terms of regions, the contact center analytics market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa.

North America led the market in 2019 owing to the presence of the majority of key players in the region along with the presence of a high number of customer contact centers. On the other hand, the market in Asia Pacific is estimated to show a rapid growth owing to various factors such as the rising adoption of smart phones, increasing disposable income, and growing digitalization. The further market growth is attributed to the rising number of small & medium enterprises in the region.

Segments

Segments Covered in the Report
The global contact center analytics market has been segmented on the basis of

Solutions
  • Predictive Analytics
  • Cross-channel Analytics
  • Speech Analytics
  • Performance Analytics
  • Text Analytics
Services
  • Integration & Deployment
  • Training & Consulting
  • Support & Maintenance
  • Managed Services
Deployments
  • On-premise
  • Hosted
Enterprise Sizes
  • Small & Medium Enterprises
  • Large Enterprises
Applications
  • Log Management
  • Automatic Call Distributor
  • Real-time Monitoring & Reporting
  • Customer Experience Management
  • Workforce Optimization
  • Risk & Compliance Management
  • Others
End-users
  • Government
  • BFSI
  • Healthcare
  • Consumer Goods & Retail
  • Travel & Hospitality
  • IT & Telecom
  • Others
Regions
  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa
Key Players
  • Verint Systems Inc.
  • Cisco Systems, Inc.
  • Five9, Inc.
  • Enghouse Interactive
  • Genesys
  • Mitel Networks Corp.
  • Genpact Ltd.
  • Oracle Corp.
  • 8X8 Inc.
  • SAP SE

Competitive Landscape

Key players competing in the global contact center analytics market are Verint Systems Inc.; Cisco Systems, Inc.; Five9, Inc.; Enghouse Interactive; Genesys; Mitel Networks Corp.; Genpact Ltd.; Oracle Corp.; 8X8 Inc.; and SAP SE. Many of these players have adopted business strategies such as integration of advanced technologies such as machine learning (ML), artificial intelligence (AI), and natural language processing (NLP) acquisitions, mergers partnerships, and alliances in order to increase their operation expansion, consumer base, and market position globally.

Contact Center Analytics Market By Key Players

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Contact Center Analytics Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Contact Center Analytics Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Contact Center Analytics Market - Supply Chain
  4.5. Global Contact Center Analytics Market Forecast
     4.5.1. Contact Center Analytics Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Contact Center Analytics Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Contact Center Analytics Market Absolute $ Opportunity
5. Global Contact Center Analytics Market Analysis and Forecast by Applications
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Applications
     5.2.2. Y-o-Y Growth Projections by Applications
  5.3. Contact Center Analytics Market Size and Volume Forecast by Applications
     5.3.1. Log Management Automatic Call Distributor Real-time Monitoring & Reporting Customer Experience Management Workforce Optimization Risk & Compliance Management
  5.4. Absolute $ Opportunity Assessment by Applications
  5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Contact Center Analytics Market Analysis and Forecast by End Users
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by End Users
     6.2.2. Y-o-Y Growth Projections by End Users
  6.3. Contact Center Analytics Market Size and Volume Forecast by End Users
     6.3.1. Government BFSI Healthcare Consumer Goods & Retail Travel & Hospitality IT & Telecom  
  6.4. Absolute $ Opportunity Assessment by End Users
  6.5. Market Attractiveness/Growth Potential Analysis by End Users
7. Global Contact Center Analytics Market Analysis and Forecast by Region
  7.1. Market Trends
  7.2. Introduction
     7.2.1. Basis Point Share (BPS) Analysis by Region
     7.2.2. Y-o-Y Growth Projections by Region
  7.3. Contact Center Analytics Market Size and Volume Forecast by Region
     7.3.1. North America
     7.3.2. Latin America
     7.3.3. Europe
     7.3.4. Asia Pacific
     7.3.5. Middle East and Africa (MEA)
  7.4. Absolute $ Opportunity Assessment by Region
  7.5. Market Attractiveness/Growth Potential Analysis by Region
  7.6. Global Contact Center Analytics Demand Share Forecast, 2019-2026
8. North America Contact Center Analytics Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
  8.2. North America Contact Center Analytics Market Size and Volume Forecast by Country
     8.2.1. U.S.
     8.2.2. Canada
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. North America Contact Center Analytics Market Size and Volume Forecast by Applications
     8.4.1. Log Management Automatic Call Distributor Real-time Monitoring & Reporting Customer Experience Management Workforce Optimization Risk & Compliance Management
  8.5. Basis Point Share (BPS) Analysis by Applications
  8.6. Y-o-Y Growth Projections by Applications
  8.7. North America Contact Center Analytics Market Size and Volume Forecast by End Users
     8.7.1. Government BFSI Healthcare Consumer Goods & Retail Travel & Hospitality IT & Telecom  
  8.8. Basis Point Share (BPS) Analysis by End Users
  8.9. Y-o-Y Growth Projections by End Users
  8.10. Market Attractiveness/Growth Potential Analysis
     8.10.1. By Country
     8.10.2. By Product Type
     8.10.3. By Application
  8.11. North America Contact Center Analytics Demand Share Forecast, 2019-2026
9. Latin America Contact Center Analytics Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Latin America Average Pricing Analysis
  9.2. Latin America Contact Center Analytics Market Size and Volume Forecast by Country
      9.2.1. Brazil
      9.2.2. Mexico
      9.2.3. Rest of Latin America
   9.3. Absolute $ Opportunity Assessment by Country
  9.4. Latin America Contact Center Analytics Market Size and Volume Forecast by Applications
     9.4.1. Log Management Automatic Call Distributor Real-time Monitoring & Reporting Customer Experience Management Workforce Optimization Risk & Compliance Management
  9.5. Basis Point Share (BPS) Analysis by Applications
  9.6. Y-o-Y Growth Projections by Applications
  9.7. Latin America Contact Center Analytics Market Size and Volume Forecast by End Users
     9.7.1. Government BFSI Healthcare Consumer Goods & Retail Travel & Hospitality IT & Telecom  
  9.8. Basis Point Share (BPS) Analysis by End Users
  9.9. Y-o-Y Growth Projections by End Users
  9.10. Market Attractiveness/Growth Potential Analysis
     9.10.1. By Country
     9.10.2. By Product Type
     9.10.3. By Application
  9.11. Latin America Contact Center Analytics Demand Share Forecast, 2019-2026
10. Europe Contact Center Analytics Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Europe Average Pricing Analysis
  10.2. Europe Contact Center Analytics Market Size and Volume Forecast by Country
     10.2.1. Germany
     10.2.2. France
     10.2.3. Italy
     10.2.4. U.K.
     10.2.5. Spain
     10.2.6. Russia
     10.2.7. Rest of Europe
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Europe Contact Center Analytics Market Size and Volume Forecast by Applications
     10.4.1. Log Management Automatic Call Distributor Real-time Monitoring & Reporting Customer Experience Management Workforce Optimization Risk & Compliance Management
  10.5. Basis Point Share (BPS) Analysis by Applications
  10.6. Y-o-Y Growth Projections by Applications
  10.7. Europe Contact Center Analytics Market Size and Volume Forecast by End Users
     10.7.1. Government BFSI Healthcare Consumer Goods & Retail Travel & Hospitality IT & Telecom  
  10.8. Basis Point Share (BPS) Analysis by End Users
  10.9. Y-o-Y Growth Projections by End Users
  10.10. Market Attractiveness/Growth Potential Analysis
     10.10.1. By Country
     10.10.2. By Product Type
     10.10.3. By Application
  10.11. Europe Contact Center Analytics Demand Share Forecast, 2019-2026
11. Asia Pacific Contact Center Analytics Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Asia Pacific Average Pricing Analysis
  11.2. Asia Pacific Contact Center Analytics Market Size and Volume Forecast by Country
     11.2.1. China
     11.2.2. Japan
     11.2.3. South Korea
     11.2.4. India
     11.2.5. Australia
     11.2.6. Rest of Asia Pacific (APAC)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Asia Pacific Contact Center Analytics Market Size and Volume Forecast by Applications
     11.4.1. Log Management Automatic Call Distributor Real-time Monitoring & Reporting Customer Experience Management Workforce Optimization Risk & Compliance Management
  11.5. Basis Point Share (BPS) Analysis by Applications
  11.6. Y-o-Y Growth Projections by Applications
  11.7. Asia Pacific Contact Center Analytics Market Size and Volume Forecast by End Users
     11.7.1. Government BFSI Healthcare Consumer Goods & Retail Travel & Hospitality IT & Telecom  
  11.8. Basis Point Share (BPS) Analysis by End Users
  11.9. Y-o-Y Growth Projections by End Users
  11.10. Market Attractiveness/Growth Potential Analysis
     11.10.1. By Country
     11.10.2. By Product Type
     11.10.3. By Application
  11.11. Asia Pacific Contact Center Analytics Demand Share Forecast, 2019-2026
12. Middle East & Africa Contact Center Analytics Market Analysis and Forecast
  12.1. Introduction
     12.1.1. Basis Point Share (BPS) Analysis by Country
     12.1.2. Y-o-Y Growth Projections by Country
     12.1.3. Middle East & Africa Average Pricing Analysis
  12.2. Middle East & Africa Contact Center Analytics Market Size and Volume Forecast by Country
     12.2.1. Saudi Arabia
     12.2.2. South Africa
     12.2.3. UAE
     12.2.4. Rest of Middle East & Africa (MEA)
  12.3. Absolute $ Opportunity Assessment by Country
  12.4. Middle East & Africa Contact Center Analytics Market Size and Volume Forecast by Applications
     12.4.1. Log Management Automatic Call Distributor Real-time Monitoring & Reporting Customer Experience Management Workforce Optimization Risk & Compliance Management
  12.5. Basis Point Share (BPS) Analysis by Applications
  12.6. Y-o-Y Growth Projections by Applications
  12.7. Middle East & Africa Contact Center Analytics Market Size and Volume Forecast by End Users
     12.7.1. Government BFSI Healthcare Consumer Goods & Retail Travel & Hospitality IT & Telecom  
  12.8. Basis Point Share (BPS) Analysis by End Users
  12.9. Y-o-Y Growth Projections by End Users
  12.10. Market Attractiveness/Growth Potential Analysis
     12.10.1. By Country
     12.10.2. By Product Type
     12.10.3. By Application
  12.11. Middle East & Africa Contact Center Analytics Demand Share Forecast, 2019-2026
13. Competition Landscape
  13.1. Global Contact Center Analytics Market: Market Share Analysis
  13.2. Contact Center Analytics Distributors and Customers
  13.3. Contact Center Analytics Market: Competitive Dashboard
  13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     13.4.1. Verint Systems Inc. Cisco Systems, Inc. Five9, Inc. Enghouse Interactive Genesys Mitel Networks Corp.  
Segments Covered in the Report
The global contact center analytics market has been segmented on the basis of

Solutions
  • Predictive Analytics
  • Cross-channel Analytics
  • Speech Analytics
  • Performance Analytics
  • Text Analytics
Services
  • Integration & Deployment
  • Training & Consulting
  • Support & Maintenance
  • Managed Services
Deployments
  • On-premise
  • Hosted
Enterprise Sizes
  • Small & Medium Enterprises
  • Large Enterprises
Applications
  • Log Management
  • Automatic Call Distributor
  • Real-time Monitoring & Reporting
  • Customer Experience Management
  • Workforce Optimization
  • Risk & Compliance Management
  • Others
End-users
  • Government
  • BFSI
  • Healthcare
  • Consumer Goods & Retail
  • Travel & Hospitality
  • IT & Telecom
  • Others
Regions
  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa
Key Players
  • Verint Systems Inc.
  • Cisco Systems, Inc.
  • Five9, Inc.
  • Enghouse Interactive
  • Genesys
  • Mitel Networks Corp.
  • Genpact Ltd.
  • Oracle Corp.
  • 8X8 Inc.
  • SAP SE

Key players competing in the global contact center analytics market are Verint Systems Inc.; Cisco Systems, Inc.; Five9, Inc.; Enghouse Interactive; Genesys; Mitel Networks Corp.; Genpact Ltd.; Oracle Corp.; 8X8 Inc.; and SAP SE. Many of these players have adopted business strategies such as integration of advanced technologies such as machine learning (ML), artificial intelligence (AI), and natural language processing (NLP) acquisitions, mergers partnerships, and alliances in order to increase their operation expansion, consumer base, and market position globally.

Contact Center Analytics Market By Key Players

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