PUBLISHER: The Business Research Company | PRODUCT CODE: 1658915
PUBLISHER: The Business Research Company | PRODUCT CODE: 1658915
Contact center analytics involves the processes and tools employed by organizations, particularly contact centers, to gather insights into business performance. This is achieved by tracking, collecting, and managing various service metrics, including call times, employee performance, efficiency, and customer satisfaction. The data collected through contact center analytics is utilized to develop customer-centric strategies for enhancing business efficiency.
The key components of contact center analytics include software and services. Software encompasses a collection of instructions, data, or computer programs used to operate machines and perform specific activities. It is employed by both large enterprises and small and medium enterprises, and can be deployed through cloud-based or on-premise models. The applications of contact center analytics span automatic call distribution, log management, risk and compliance management, real-time monitoring and reporting, workforce optimization, customer experience management, and others. Various industry 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, leverage contact center analytics for improved operational insights.
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.
The contact center analytics market size has grown rapidly in recent years. It will grow from $2.23 billion in 2024 to $2.57 billion in 2025 at a compound annual growth rate (CAGR) of 15.6%. The growth in the historic period can be attributed to shift towards cloud-based solutions, customer-centric focus, multichannel communication analysis, operational efficiency optimization, speech and sentiment analysis adoption.
The contact center analytics market size is expected to see rapid growth in the next few years. It will grow to $5.08 billion in 2029 at a compound annual growth rate (CAGR) of 18.5%. The growth in the forecast period can be attributed to increasing emphasis on customer experience, rise in omnichannel communication analysis, demand for real-time insights, continued focus on operational efficiency. Major trends in the forecast period include scalability and cloud adoption, personalization and customer segmentation, employee performance enhancement, speech and sentiment analysis, compliance and security monitoring, advancements in AI and machine learning integration.
The growing demand for predictive analytics and real-time monitoring is anticipated to drive the growth of the contact center analytics market in the future. Predictive analytics and real-time monitoring involve extracting valuable insights from various external and internal data sources in real-time to forecast future outcomes and optimize business operations. These tools assist contact center analytics in identifying opportunities and improving operations, including enhancing customer experience, boosting customer retention rates, and developing effective strategies. For example, in October 2022, VentureBeat, a US-based online technology news platform, reported that around 95% of companies incorporate artificial intelligence (AI)-powered predictive analytics into their marketing strategies. Thus, the rising demand for predictive analytics and real-time monitoring is propelling the growth of the contact center analytics market.
The contact center analytics market is set to expand further due to the rising adoption of artificial intelligence (AI). AI, a branch of computer science focused on developing intelligent machines, plays a pivotal role in automating data analysis, providing real-time insights, and optimizing customer interactions within contact center analytics. This results in improved operational efficiency and an enhanced overall customer experience. Notably, according to The International Business Machines Corporation (IBM) in May 2022, 35% of businesses globally utilized artificial intelligence (AI) - a 4% increase from the previous year. This surge in AI adoption is a key driver for the growth of the contact center analytics market.
A prominent trend in the contact center analytics market is the emphasis on new product innovation. Major players in the market are channeling efforts into developing innovative products that offer superior solutions for contact center analytics, particularly in high-volume call environments such as call centers. For instance, Qualtrics, a US-based software company, introduced Real-Time Agent Assist and Automated Call Summaries solutions in October 2022. These AI-driven solutions provide personalized coaching to contact center agents during customer calls, enhancing customer support skills and generating automated call summaries that aid in agent performance evaluation and overall contact center performance tracking.
In the quest for a competitive advantage, leading companies in the contact center analytics market are increasingly emphasizing innovative technologies, especially AI-driven call center platforms. These platforms utilize AI technologies, such as natural language processing and machine learning, to automate and improve various elements of call center operations. A notable instance is Observe.AI, a US-based startup that introduced a comprehensive analytics tool for contact centers in September 2022. This tool employs a large language model (LLM) with 30 billion parameters and a generative AI engine to provide precise AI-based insights. These insights empower frontline teams, boost sales, ensure compliance, and enhance customer satisfaction.
In January 2024, Calabrio Inc., a US-based software company, acquired Wysdom for an undisclosed amount. This acquisition is intended to strengthen Calabrio Inc.'s capabilities in workforce engagement management (WEM) by incorporating advanced conversational AI and machine learning technologies. Wysdom, a Canada-based firm, specializes in providing contact center virtual agents through chatbot analytics.
Major companies operating 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, Servion Global Solutions, Aspect Software Inc., Clarabridge Inc., Calabrio Inc., ZOOM International, Clarify360, Sabio Ltd., Voci Technologies, Xdroid, Pindrop Security, Cognitivescale, Uniphore, Observe.AI, Gridspace, VoiceBase, Deepgram, Cresta AI, DIALPAD INC., Adastra Corporation
North America was the largest region in the contact center analytics market share in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the contact center analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the contact center analytics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
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.
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.
Contact Center Analytics Global Market Report 2025 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.
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 forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.