Global Contact Center Analytics Market 2020 (Includes Business Impact of COVID-19)

                                          
“Global Contact Center Analytics Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by Trusted Business Insights. The global contact center analytics market report has been segmented on the basis of component, organization size, deployment mode, industry vertical, and region.

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Global Contact Center Analytics Market: Overview

Contact center analytics provide automated services and tools that are supported by multiple channels of data analysis, thus offering meaningful insights in real-time scenarios. The outcome of this analytics helps to manage queuing, staffing, and contact distribution, depending upon customer patterns or preferences. A service-oriented organization that implements contact center analytics gains benefits such as multichannel integration, customer journey insights, empowered agents, reduced manual contact center reporting, and gain operational efficiency.

Global Contact Center Analytics Market: Dynamics

Growing need for enhanced customer experience management solutions is a key factor that will drive global market growth owing to stiff competitions among players in this market.

Proliferation of cloud computing technology is increasing demand for real-time solutions that will keep an organization stable in a competitive market with high-cost cutting pressures, and soaring customer needs. This is among some of the major factors to fuel growth of the target market in the coming years.

Increasing adoption of speech and text analytics is further boosting growth of the target market owing to its ability to identify on-going trends, help in reducing churn, gain cross-channel intelligence reports or outcomes, and provide entities with precise insights that will drive business growth while ensuring operational efficiency. Aforementioned is among some of the other major factor expected to support growth of the target market.

However, high initial investment and rising concerns associated with customer data and its privacy rules and regulations are factors that could hamper growth of the global market to a certain extent.

Increasing adoption of social media analytics, real-time monitoring and analytics, and predictive and prescriptive analytics will create significant growth opportunities in terms of revenue for players in the potential market.

Global Contact Center Analytics Market: Segment Analysis

Working class individuals prefer to resolve issues that are related to accounting and banking services over telephonic conversations. Thus, contact centers are inclining towards offering exquisite customer support by adopting analytics. Contact center analytics provides analysis depending upon historic customer data such as past transaction, queries, purchases, and others. Therefore, making contact centers smart in responding to repetitive queries and gaining satisfactory feedback from customers. This is a factor to support growth of the banking, financial services, and insurance segment among the industry vertical segments.

Small and medium scale organizations adopt emerging technologies to offer unique and special features to attract customers instantly and to stay competitive in the market. This is a factor to support growth of the small and medium-sized enterprises (SME’s) segment among the organization size segments.

Global Contact Center Analytics Market: Region Analysis

The market in Asia Pacific dominates in terms of revenue share and is expected to hold its dominance over the forecast period. Whereas the market in North America is expected to register highest CAGR and the revenue share is expected to increase at a significant rate of the target market during the forecast period. The market in Europe is expected to register moderate revenue growth in the global market followed by the market in Latin America.

Global Contact Center Analytics Market Segmentation:

Segmentation by Component:

Software
Text Analytics
Speech Analytics
Predictive Analytics
Performance Analytics
Cross-Channel Analytics
Services

Segmentation by Organization Size:

Large Enterprises
Small and Medium-Sized Enterprises (SME’s)

Segmentation by Deployment Mode:

Cloud-Based
On-Premises

Segmentation by Industry Vertical:

Energy and Utilities
Media and Entertainment
Transportation and Logistics
Retail and Consumer Goods
Banking, Financial Services, and Insurance
Information Technology and Telecommunications
Others (Manufacturing, Healthcare and Life Sciences, Government, Travel and Hospitality, Food & Beverage, Commercial, etc.)