Contact Center Analytics Global Market Report 2023

“Contact Center Analytics Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on contact center analytics market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

• Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
• Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
• Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
• Measure the impact of high global inflation on market growth.
• Create regional and country strategies on the basis of local data and analysis.
• Identify growth segments for investment.
• Outperform competitors using forecast data and the drivers and trends shaping the market.
• Understand customers based on the latest market shares.
• Benchmark performance against key competitors.
• Suitable for supporting your internal and external presentations with reliable high quality data and analysis
• Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
• All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for contact center analytics ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The contact center analytics market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of COVID-19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 1) By Component: Software; Services

• 2) By Enterprise Size: Large Enterprises; Small and Medium Enterprises

• 3) By Deployment Mode: Cloud; On Premise

• 4) By Applications: Automatic Call Distributor; Log Management; Risk and Compliance Management; Real-time Monitoring and Reporting; Workforce Optimization; Customer Experience Management; Other Applications

• 5) By Verticals: BFSI; Healthcare and Life Sciences; Manufacturing; Retail and Consumer Goods; Energy and Utilities; Telecom and IT; Travel and Hospitality; Government and Defense; Other Verticals

• Companies Mentioned: Cisco Systems Inc; Genpact; Oracle Corporation; Avaya Holdings Corp; NICE Ltd

• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA

• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

• Time series: Five years historic and ten years forecast.

• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,

• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.

• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.

• Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Major players in the contact center analytics market are Cisco Systems Inc., Genpact, Oracle Corporation, Avaya Holdings Corp, NICE Ltd., SAP SE, 8x8 Inc., Talkdesk, Genesys Telecommunications Laboratories Inc., CallMiner, Enghouse Interactive Inc., Five9 Inc., Verint Systems Inc., Mitel Networks Corporation, and Servion Global Solutions.

The global contact center analytics market is expected to grow from $1.65 billion in 2022 to $1.93 billion in 2023 at a compound annual growth rate (CAGR) of 16.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The contact center analytic market is expected to grow to $3.53 billion in 2027 at a CAGR of 16.3%.

The contact center analytics market includes revenues earned by entities by providing customer satisfaction (CSAT), customer retention, customer effort score, and service-level agreement (SLA) performance. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

Contact center analytics refers to the process and tools that firms like contact centers use to gain business performance insights by tracking, collecting, and managing various service metrics such as call times, employee performance, efficiency, and customer satisfaction. The data is used by organizations operating in call center analytics to formulate customer-centric strategies for business efficiency.

North America was the largest region in the contact center analytics market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the contact center analytics report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The main components in contact center analytics are software and services. Software refers to the collection of instructions, data, or computer programs that are used to run machines and carry out particular activities. The uses includes by large enterprises and small and medium enterprises, by deployment modes involving cloud and on-premise. The various applications are automatic call distributor, log management, risk and compliance management, real-time monitoring and reporting, workforce optimization, customer experience management, and others, used in various verticals such as BFSI, healthcare and life sciences, manufacturing, retail, and consumer goods, energy and utilities, telecom and IT, travel and hospitality, government and defense and others.

The increase in demand for predictive analytics and real-time monitoring is expected to propel the growth of the contact center analytics market going forward. Predictive analytics and real-time monitoring is the process of extracting useful information from various external and internal data sources in real-time to predict future outcomes and carry out efficient business operations. Predictive analytics and real-time monitoring help contact center analytics identify opportunities and enhance their business operations, such as better customer experience, improving customer retention rates, developing strategies, and others. For instance, in July 2021, an article published by Al Reyami Technologies LLC, a UAE-based IT Solutions company, approximately 52% of businesses use advanced and predictive analytics to offer better operational insights and contextual intelligence. Therefore, the increase in demand for predictive analytics and real-time monitoring is driving the growth of the contact center analytics market.

New product innovation is the key trend gaining popularity in the contact center analytics market. Major companies operating in the contact center analytics market are focused on innovating new products that could provide better solutions for contact center analytics used in call centers or businesses involving high volume calls and strengthen their position. For instance, in December 2020, Avaya Holdings Corp, a US-based multinational company operating in the contact center and unified communication solutions organization, introduced its unique contact analytics integrated with Oracle Cloud Stack known as Avaya Analytics 4.1. The unique features of Avaya Analytics 4.1 enable enterprises to derive current business measures from real-time event collection and processing, allowing supervisors in contact centers to analyze trends to improve agent performance. It displays the contact center site's performance overview on dashboards in Avaya IX Workspaces for Oceana's current contact center performance information in real-time, which helps in monitoring the statistics.

In October 2021, Qualtrics, a US-based company operating in the contact center analytics market, acquired Clarabridge for $1.2 billion. Through this acquisition, Qualtrics aims to strengthen its product portfolio in contact center analytics by enhancing omnichannel conversational analytics and gaining market advantage. Clarabridge is a US-based company operating in the contact center analytics market.

The countries covered in the contact center analytics market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The contact center analytics market research report is one of a series of new reports from The Business Research Company that provides contact center analytics market statistics, including contact center analytics industry global market size, regional shares, competitors with a contact center analytics market share, detailed contact center analytics market segments, market trends and opportunities, and any further data you may need to thrive in the contact center analytics industry. This contact center analytics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.