Contact center analytics market to reach $2.9Bn by 2027
The contact center analytics industry is projected to grow from US$1.7 billion in 2022 to US$2.9 billion, at a Compound Annual Growth Rate (CAGR) of 11.7%.
According to a report by market research firm MarketsandMarkets, this accelerated growth will be driven by various factors including the rising adoption of advanced technologies, demand for better customer experience management solutions, and the increasing adoption of cloud-based contact center solutions during and after the pandemic.
In terms of industries, MarketsandMarkets stated that the BFSI (banking, financial services, and insurance) sector would account for the largest market size during the forecast period
Meanwhile, the healthcare and life sciences; manufacturing; retail and consumer goods; energy and utilities; telecom and IT; government and defense; travel and hospitality; research; media and entertainment; transportation; and logistics verticals will also show significant growth over the next years.
Moreover, among the major segments, the Asia-Pacific (APAC) region is expected to have the highest CAGR between 2022 and 2027.
The report said that this will be driven by the expansion of major multinational players and the adoption of advanced analytics technologies of contact center start-ups to compete with established companies.
