Contact Center Analytics Industry Overview

The global contact center analytics market size was valued at USD 1.40 billion in 2022 and is anticipated to expand at a compound annual growth rate (CAGR) of 19.7% from 2023 to 2030.

The high demand for analytics among contact centers can be attributed to the benefits it offers, such as improved service quality and the ability to monitor service metrics from employee performance, call times, customer satisfaction, and efficiency. The growing use of social media platforms is also one of the major factors creating the demand for contact center analytics. Customer feedback posted on social media platforms through blogs, posts, and forums is analyzed using contact center analytics solutions, allowing companies to analyze social media content on a real-time basis.

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This helps improve business processes and generate a competitive edge. At the same time, it helps companies understand the opinions expressed by the users, including the jargon, abbreviations, slang, and acronyms on social media. These factors are expected to drive the demand for contact center analytics among organizations. The growing demand for Artificial Intelligence (AI)-enabled contact center solutions is expected to create new opportunities for market growth. The ability of these solutions to reduce operational costs, provide actionable analytics, personalize the customer experience, and increase customer agent efficiency is expected to drive their importance and adoption in contact centers.

AI is used in various contact center solutions, such as predictive call routing, interactive voice response, conversational AI, and emotional intelligence. AI is used in predictive call routing for matching contact center customers to specific customer service agents capable of handling an issue. Contact centers are expected to comply with the requirements framed by the agencies, such as the Payment Card Industry Data Security Standard (PCI-DSS). According to the PCI-DSS, contact centers are prohibited from recording the CVV2 numbers of cards along with other sensitive data of customers during a call. At the same time, contact centers are expected to provide the right training to their employees regarding the regulations issued by organizations, such as Telephone Consumer Protection Act (TCPA), Health Insurance Portability and Accountability Act (HIPAA), and PCI-DSS.

The rising focus of telecommunication companies worldwide on improving their first call resolution rates and increasing call deflection is also driving the demand for contact center analytics. The use of contact center analytics solutions to analyze customer backgrounds helps reduce the total interaction volume. At the same time, predictive analytics solutions are used to understand customer queries, which helps companies improve first call resolution rates. In addition, it is also used for understanding customer behavior and preferences to better serve their requirements.

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• The global speech analytics market was valued at USD 2.82 billion in 2023 and is projected to grow at a CAGR of 15.7% from 2024 to 2030.
• The global artificial intelligence market size was estimated at USD 196.63 billion in 2023 and is projected to grow at a CAGR of 36.6% from 2024 to 2030.

Contact Center Analytics Market Segmentation

Grand View Research has segmented the global contact center analytics market based on solution, service, deployment, enterprise size, application, end-use, and region:

Contact Center Analytics Solution Outlook (Revenue, USD Million, 2017 - 2030)

• Cross-channel Analytics
• Performance Analytics
• Predictive Analytics
• Speech Analytics
• Text Analytics

Contact Center Analytics Service Outlook (Revenue, USD Million, 2017 - 2030)

• Integration & Deployment
• Support & Maintenance
• Training & Consulting
• Managed Services

Contact Center Analytics Deployment Outlook (Revenue, USD Million, 2017 - 2030)

• Hosted
• On-premise

Contact Center Analytics Enterprise Size Outlook (Revenue, USD Million, 2017 - 2030)

• Large
• SME

Contact Center Analytics Application Outlook (Revenue, USD Million, 2017 - 2030)

• Automatic Call Distributor
• Customer Experience Management
• Log Management
• Real-time Monitoring & Reporting
• Risk & Compliance Management
• Workforce Optimization
• Others

Contact Center Analytics End-use Outlook (Revenue, USD Million, 2017 - 2030)

• BFSI
• Consumer Goods & Retail
• Government
• Healthcare
• IT & Telecom
• Travel & Hospitality
• Others

Contact Center Analytics Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America
  • US
  • Canada
• Europe
  • UK
  • Germany
  • France
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
• Latin America
  • Brazil
  • Mexico
• Middle East and Africa
  • Saudi Arabia
  • South Africa
  • UAE

Key Companies profiled:

• 8X8 Inc.
• CallMiner
• Cisco Systems, Inc.
• Enghouse Interactive
• Five9, Inc.
• Genesys
• Genpact Ltd.
• Mitel Networks Corp.
• Nice Ltd.
• Oracle Corp.
• SAP SE
• Verint Systems Inc.

Key Contact Center Analytics Company Insights

Market players are regularly focusing on innovations to personalize and differentiate their solution offerings for potential customers. Vendors are also aiming at integrating various technologies, such as Natural Language Processing (NLP), AI, and machine learning, into their solutions to offer effective solutions to their customers. Furthermore, numerous market players are focusing on effectively delivering training & consulting and support & maintenance services to retain their customer base. New product development and partnerships are some of the key strategies adopted by companies to gain a competitive edge in the market.

For instance, in September 2021, Service Management Group, a global patient, customer, and employee experience management company, announced the expansion of its partnership with CallMiner, a conversational analytics provider. Through this collaboration, the former company is delivering new insights to customer experience programs by pairing customer interaction and speech analytics with real-time customer feedback in the smg360 platform.

Recent Developments

• In March 2022, Avaya partnered with Alcatel-Lucent Enterprise (ALE), to expand the reach of Avaya's OneCloud CCaas (Contact Center as a Service) composable solutions to ALE's worldwide customer base. Additionally, as part of the collaboration, ALE's digital networking solutions were made accessible to Avaya customers on a global scale.
• In February 2022, NICE partnered with Etisalat Digital to enhance the availability of the CXone platform within the United Arab Emirates (UAE). This collaboration aimed to offer Etisalat customers a smooth transition to the cloud through CXone, enabling effortless digital self-service and agent-assisted customer experiences.
• In February 2022, NICE unveiled the extension of its collaboration with Google, focusing on the enhancement of CXone, the first-ever cloud-native customer experience platform, for Chrome OS. By meeting Google's stringent technical standards, NICE's secure and scalable platform, CXone, is now recognized as an optimized solution for devices within the Chrome OS ecosystem, specifically designed for contact centers. It ensures rapid deployment and provides a seamless experience for customers utilizing Chrome OS devices.

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