The global Contact Center Analytics Market size is expected to reach USD 5.75 billion by 2030, expanding at a CAGR of 19.3% over the forecast period, according to a new report by Grand View Research, Inc. The growing need among contact center companies to track and measure business performance at each level is expected to drive market growth. Contact center analytics also enables companies to reduce overhead and operational expenses. The funding raised by contact center service providers is also expected to drive market growth. For instance, in May 2021, ASAPP, Inc., an Artificial Intelligence (AI) research-driven customer experience company, announced that it raised USD 120 million. The company would use this funding to expand its portfolio and market reach.
Companies are entering into partnerships with
technology solution providers to enhance their offerings. For instance, in July
2021, Clarabridge, Inc., a speech analytics provider, announced that it had
joined Five9’s ISV Partner Program, a provider of intelligent cloud contact
centers. This partnership provided Five9’s clients the ability to connect
contact center analytics and management. The COVID-19 pandemic has positively
impacted the market growth in 2021. The pandemic has driven automation and
digitalization initiatives across contact centers due to changing customer
needs and employee working structures. Contact center agents have shifted to a
remote working model due to the pandemic to stem the spread of the virus, which
creates the need for contact center analytics among contact centers of various
companies.:
Related Press Release@ Contact Center Analytics Market Report
Contact Center Analytics Market
Report Highlights
- The speech analytics solutions segment dominated the market in 2021
due to the wide usage of these solutions in improving service quality,
customer experience, and reducing operating expenses
- The integration & deployment services segment dominated the
market in 2021 and is expected to retain its dominance over the forecast
period due to the high demand for these services among organizations to
reduce data loss or theft
- The hosted deployment segment is expected to witness the fastest
CAGR over the forecast period. Hosted deployment helps eliminate the need
to regularly upgrade systems
- The SME segment is expected to witness the fastest CAGR during the
forecast period. Analytics solutions are widely adopted by many SMEs as
these solutions help track customer data and improve agent productivity
- The workforce optimization application segment is expected to register
the fastest CAGR over the forecast period. Workforce optimization
solutions offer several analytics capabilities, such as quality management
and interaction analytics, which enable contact centers to improve their
workforce operations
- The consumer goods & retail end-use segment is projected to
have the highest CAGR from 2022 to 2030 due to the wide adoption of
contact center analytics in this segment to provide a personalized
experience to customers
- The North American Customer Service Management Association (NACSMA)
is focusing on promoting the use of advanced technologies in the contact
center industry and helping enterprises in delivering enhanced customer
experience. This is expected to drive the growth of the regional market
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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