Contact Center Analytics Market

Cisco Systems Inc., Genpact Ltd., Genesys, Oracle Corporation, and NICE Ltd. are Some of the Major Global Players in the Contact Center Analytics Market

Customers are always the key parameter for any organization to sustain in the competitive environment. To analyze the customers’ needs appropriately, it is very essential to have their feedbacks and interaction tracked on a real-time basis. Every company has its own contact centers to record such incidents, but just keeping the data untouched has never been useful. Hence, contact center analytics has started gaining traction in analyzing customer data. By utilizing various technologies, such as machine learning, Artificial Intelligence (AI), and Natural Language Processing (NLP), contact center analytics solutions are providing better analyzed results to various organizations for a better decision-making process and for framing proven business strategies. Moreover, the high attention toward applications, such as customer experience management and workforce optimization, has increased the adoption rate of contact center analytics solutions across various industries.

The major drivers of the contact center analytics market include demand for better customer experience management solutions, proliferation of cloud computing, growing demand for speech and text analytics solutions, and increased compliance requirements. The global market size for contact center analytics is projected to reach USD 1,483.6 Million by 2022, at a Compound Annual Growth Rate (CAGR) of 15.9% during the forecast period from 2017 to 2022.

Major vendors in this market include Cisco Systems, Inc. (US), Genpact Limited (Bermuda), Verint Systems Inc. (US), 8X8 Inc. (US), Genesys (US), Oracle Corporation (US), Mitel Networks Corporation (Canada), SAP SE (Germany), NICE Ltd. (Israel), Enghouse Interactive (US), Five9, Inc. (US), CallMiner (US), and Servion Global Solutions (India). Players in this market have adopted various strategies, such as new product launches, product developments, partnerships and collaborations, and acquisitions, to expand their market presence share. Acquisitions and partnerships are the major growth strategies adopted by the vendors in this market. Cisco Systems Inc., Genpact Ltd., Genesys, Oracle Corporation, and NICE Ltd. are some of the major global players in this market.

Cisco Systems is a global provider of a wide range of products for switching; next-generation network routing; collaboration; data centers; wireless products; service provider videos; security; and services. The company caters to large enterprises and SMEs in various industry verticals, such as BFSI, automotive, manufacturing, transportation, materials and mining, energy & utilities, healthcare, life sciences, retail, consumer goods, hospitality, sports, entertainment, government, and education. In December 2014, Cisco introduced its analytics offering – Cisco CACC for customers with varied requirements. Cisco’s significant investment (about USD 6.30 Billion in 2016) in its R&D activities,  has helped it launch new products and boost its existing product portfolio, including in the analytics segment.

Genpact Ltd., one of the leading providers of business process management and services, offers a contact center analytics service suite – Genpact Contact Center Analytics. The company focuses on strengthening its expertise in specific domains for targeted industries by acquisitions, strategic partnerships, and collaborations with significant industry players as well as academic institutions. Recently, in February 2017, the company extended its partnership with its largest client GE to provide professional services across all GE businesses. This partnership is expected to strengthen Genpact’s analytics portfolio by enabling it to leverage from GE’s advanced analytics portfolio and domain expertise. Genpact also focuses on expanding its analytics portfolio with new product launches. The latest initiative in this series is the launch of Neural Chat Assistant solution, an AI virtual advisor, designed to improve the customer experience, in February 2017. This product launch has helped the company to build on its analytics portfolio, powered by AI.

Related Reports:

Contact Center Analytics Market by Component (Software and Services), Application (Log Management, Risk and Compliance Management, Real-Time Monitoring and Reporting, Workforce Management, Customer Experience Management) - Global Forecast to 2022

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