Contact Center Analytics Market Poised to Garner Maximum Revenues During 2022– 2030: Grand View Research Inc.

Contact Center Analytics Market Growth & Trends

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.:

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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

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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
    • US.
    • Canada
  • Europe
    • Germany
    • UK.
  • Asia Pacific
    • China
    • India
    • Japan
  • Latin America
    • Brazil
  • Middle East & Africa

List of Key Players in the Contact Center Analytics Market

  • 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.

About Grand View Research

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, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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