Contact Center Analytics Market to Generate $8.1 billion by 2031, States the Report by Allied Market Research
A lead analyst at AMR highlights that the contact center analytics market in Asia-Pacific is anticipated to grow at the fastest CAGR during the forecast period.
PORTLAND , PORTLAND, OR, UNITED STATE, August 26, 2022 /EINPresswire.com/ — Allied Market Research published a research report on the contact center analytics market. The findings of the report states that the global market for contact center analytics generated $1.3 billion in 2021, and is projected to reach $8.1 billion by 2031, growing at a CAGR of 20.6% from 2022 to 2031. The report offers valuable information on changing market dynamics, major segments, top investment pockets, and competitive scenario for market players, investors, shareholders, and new entrants.
The report provides detailed insights on drivers, restrains, and opportunities to help the market players in devising several growth strategies. Increase in demand for advanced customer experience management, surge in need for real-time monitoring, and rise in popularity of predictive analytics are expected to drive the growth of the global contact center analytics market. On the other hand, extortionate cost of the system is expected to hinder the growth to some extent. However, availability of improved IT methods to meet customer’s dynamic requirements are expected to create ample opportunities for the industry.
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“The market in the Asia-Pacific region is expected to register rapid growth during the forecasted period. This is due to increase in economic transformation, globalization, digitization, and rise of cloud-based contact center analytics solutions. In addition, increasing digitization, coupled with rise in levels of disposable income in the region, has resulted in high adoption of smartphones and other mobile devices.
The high volumes of data generated from these devices increase the demand for advanced analytics solutions as organizations in various industries seek ways to improve the customer experience in their contact centers. Increase in demand for contact center analytics solutions to improve customer experiences in many SMEs in Asia-Pacific is expected to drive the regional market growth.
Furthermore, due to presence of large number of large and small & medium scale industries in the region, the market players operating in the region are expected to offer huge growth opportunities,” says Vineet Kumar – Manager, ICT and Media at Allied Market Research.
The report provides a detailed scenario of the impact of the Covid-19 pandemic on the contact center analytics market globally. The outbreak of COVID-19 has had a positive impact on the growth of the global contact center analytics market, owing to the prevalence of lockdowns in various countries across the globe.
Lockdowns resulted in the increased call volume registered by call centres as more and more people at home were increasingly concerned about loan payments, mortgage refinancing, extension of credit card limits, and others. Thus, the market is expected t surge exponentially.
The report offers a detailed segmentation on the global contact center analytics based on component, deployment model, industry vertical, and region.
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Based on component, the solution segment held the largest market share in 2021, garnering more than two-thirds of the global market. The services segment, on the other hand, is predicted to cite the fastest CAGR of 22.0% during the forecast period.
Based on deployment model, the on-premise segment held the majority market share in 2021, holding nearly three-fifths of the global market. The cloud segment, on the other hand, is expected to reach 22.8% during the forecast period.
Based on region, the market across North America held the lion’s share in 2020, garnering nearly two-fifths of the global market. The Asia-Pacific region, on the other hand, is predicted to cite the fastest CAGR of 22.3% during the forecast period.
The key players analzyed in the global contact center analytics market report include Cisco, Oracle, Genpact, SAP SE, Five 9, Talkdesk, Inc., Nice Ltd., 8*8 Inc., and Avaya Inc.
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.
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