Polaris Eyes Robust Growth for Contact Center Analytics
Polaris Market Research has valued the worldwide market for contact center analytics at $1.28 billion this year and expects it to reach $5.81 billion by 2030, growing at a compound annual growth rate at 19.4 percent.
The report cites the rising penetration of e-commerce platforms and strengthening retail sectors further promoting the adoption of these solutions.
The industry is also being driven by factors such as increased incorporation of artificial intelligence, client fulfillment, and improved customer experience,
Nonetheless, factors such as implementation time as well as the cost of the system restrain the industry growth.
Polaris has seen an increase in the adoption of cloud-based solutions providing opportunities for the industry though on-premises accounted for the largest revenue share, owing to improved data quality and reduced data entry.
By end-use industry, IT & telecom is expected to account for a considerable market share in the industry. Small and mid-sized businesses are increasingly investing in contact center analytic solutions.
Companies highlighted in the report as leaders in this market include 3CLogic, 8X8, Avaya, CallMiner, Cisco Systems, Dixa, Five9, Genesys, Genpact, Mitel Networks, NICE, Oracle, SAP, Servion Global Solutions, and Talkdesk.