Contact center analytics are tools that help in reducing the workload of organizations without affecting the customer satisfaction much. The system introduces a proper measurement tactics of the performance of customer service representative to analyze the lack and improve the customer relationship methodologies. The global contact center analytics market is gaining from these features and is expected to score 16% CAGR during the forecast period (2017-2023) and exceed a valuation of USD 1.52 billion. Market research Future (MRFR), in a detailed report on the same market claimed the US can lead the market by fetching in substantial revenues.
Factors like better customer relationship management, ability to provide better insights regarding customer handling, increasing integration of cloud computing and others are expected to impact the global Contact Center Analytics Market in the foreseeable future. Growing compliance requirement is also expected top play crucial role in taking the market forward.
The key players in the global contact center analytics market include Cisco Systems, Inc. (US), Verint Systems Inc. (US), Genpact Limited (Bermuda), Genesys (US), 8X8 Inc. (US), Mitel Networks Corporation (Canada), Oracle Corporation (US), SAP SE (Germany), NICE Ltd. (Israel), Five9, Inc. (US), Enghouse Interactive (US), Servion Global Solutions (India) and CallMiner (US) among others.
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MRFR, for a dynamic study of the global contact center analytics market, segmented it by component, deployment, organization size, application, and end-users. This attempt is to gauge the market from close quarters and get a hint of what is on the cards for the coming years.
- Based on the component, the global contact center analytics market can be segmented into software and solutions.
- Based on the deployment, the contact center analytics market includes on-premise and on-demand. The on-premise segment has notable market influence.
- Based on the organization size, the contact center analytics market can be segmented into small, medium, and large. The small and medium enterprises are yet to experience the full potential of the segment. However, the large segment is having a great go in the market.
- Based on the application, the contact center analytics market consists workforce optimization, risk management, customer experience management, real-time monitoring and others. The customer experience management segment is gaining remarkable growth.
- Based on the end-users, the contact center analytics market encompasses BFSI, government, retail, healthcare, manufacturing, IT & telecommunications, hospitality, defense, energy, and others. Its ability to provide better customer service has made the BFSI segment quite popular. The IT & telecommunication segment is also expecting strong growth.
The regional analysis of contact center analytics market is studied for North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW). This analysis has its roots in value-wise and volume-wise segmentations and verifiable facts have been inserted to offer better predictive analysis.
North America has the upper-hand in dealing the market as its technological superiority has better claims than the others in the region. Several companies are based out of this region like Oracle Corporation, Cisco Systems Inc, 8X8 Inc., which is helping the market in acquiring better profitable stand. At the same time, the regional market is blessed by the presence of economies like the US and Canada. These countries are also gaining more due to the high expenditure capacity of the market players.
The APAC market is expected to benefit the most as several countries can be termed emerging economies from the region. These countries are India, China, Thailand, and others. The industrial revamping of these regions is helping in the installation of contact center analytics. This sets the regional market on a track where they can acquire the highest market growth during the forecast period.
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