According to the report published by Allied Market Research, the global contact center analytics market was estimated at $1.3 billion in 2021 and is expected to hit $8.1 billion by 2031, registering a CAGR of 20.6% from 2022 to 2031. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and varying market trends.
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A rise in demand for advanced customer experience management drives the growth of the contact center analytics market. On the other hand, factors such as implementation time and the high cost of the system impede the growth to some extent. However, the growing application of predictive analytics and real-time monitoring and the increase in requirements for better customer experience management solutions are anticipated to create lucrative opportunities in the industry.
The global contact center analytics market is analyzed across component, deployment model, industry vertical, and region. Based on component, the solution segment contributed to more than two-thirds of the total market revenue in 2021, and is projected to lead the trail by 2031. The services segment, moreover, would exhibit the highest CAGR of 22.0% during the forecast period.
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Based on deployment model, the on-premise segment contributed to nearly three-fifths of the total market revenue each in 2021, and is projected to lead the trail by 2031. The cloud segment, on the other hand, would exhibit the fastest CAGR of 22.8% during the forecast period.
Based on region, the market across North America held the major share in 2021, garnering nearly two-fifths of the global contact center analytics market. The Asia-Pacific region would manifest the fastest CAGR of 22.3% throughout the forecast period. The other provinces studied in the report include Europe and LAMEA.
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The key market players analyzed in the global contact center analytics industry report include Cisco, Oracle, Genpact, SAP SE, Five 9, Talkdesk, Inc., Nice Ltd., 8*8 Inc., and Avaya Inc. These market players have adhered to several strategies including partnership, expansion, collaboration, joint ventures, and others to prove their flair in the industry.
Covid-19 scenario-
- Surge in demand for contact centers from people seeking help to protect their assets by deferring their loan payments and preferring lower interest rates heightened the volume of calls registered by call centers, which impacted the global contact center analytics market positively.
- Rise in call volume accentuated the need for contact center analytics solutions to analyze customer data effectively. This trend is most likely to continue post-pandemic as well.
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