Market Research Report
BFSI Contact Center Analytics Market Size, Share & Trends Analysis Report By Solution, By Service, By Deployment, By Enterprise Size, By Application, By Vertical, By Region, And Segment Forecasts, 2021 - 2028
|BFSI Contact Center Analytics Market Size, Share & Trends Analysis Report By Solution, By Service, By Deployment, By Enterprise Size, By Application, By Vertical, By Region, And Segment Forecasts, 2021 - 2028|
Published: September 21, 2021
Grand View Research, Inc.
Content info: 150 Pages
Delivery time: 2-10 business days
The global BFSI contact center analytics market size is expected to reach USD 842.5 million by 2028, registering at a CAGR of 16.3% from 2021 to 2028, according to a new report by Grand View Research, Inc. The BFSI sector increasingly demands contact center analytic solutions to analyze customer data and improve customer experience. The increasing efforts of BFSI firms to improve their operational performance and address customer requirements is also one of the major factors driving the market growth.
Several banks are investing in artificial intelligence-powered analytics solutions for improving their customer experience. For instance, in February 2021, the Bank of Singapore announced its plan of deploying artificial intelligence-based analytical solutions to improve its customer services and the performance of its sales teams. This solution would also offer text analytics to the bank, offering the bank insights about customer sentiments and conversation topics.
The increasing adoption of digital banking solutions and the consecutive rise in the complexity of handling transactional interactions is expected to create the demand for contact center analytics. Banks are expected to adopt these solutions for handling complex situations, informational calls, and sales and purchase-related issues.
The COVID-19 pandemic and associated restrictions required that banks operated with limited staff. This adversely impacted the market in 2020. However, the increasing adoption of the remote working model by BFSI companies could drive the market positively post the pandemic. According to the statistics provided by the Site Selection Group, in 2021, 2.5 million call center workers at 8,154 call centers were shifted to the work-from-home model in the U.S. These contact center employees included 0.5 million workers working for financial services and 0.3 million workers working for insurance companies.