The global Contact Center Intelligence market size is expected to be worth around US$ 5.75 billion by 2028, according to a new report by Vision Research Reports.
The global Contact Center Intelligence market size was valued at US$ 1.08 billion in 2020 and is anticipated to grow at a CAGR of 23.6% during forecast period 2021 to 2028.
The growth can be attributed to the growing use of AI-powered chatbots to manage business operations efficiently and effectively. The rising level of customer engagement through various channels, such as websites, emails, and social media, is also expected to create growth opportunities for the market over the forecast period.
Enterprises are aggressively opting for omnichannel solutions and speech technology as part of the efforts to retain their customers. AI-powered solutions are particularly helping enterprises in reducing the time required for solving customer queries. The growing need to look for various ways to improve customer retention bodes well for the growth of the market over the forecast period.
Enterprises have realized that integrating the large volumes of data being generated on a single channel efficiently can improve employee productivity, enhance customer experience, and reduce average call time per customer. Omnichannel solutions can particularly allow agents to switch across multiple channels to access the same contextual information. The strong emphasis enterprises are putting on implementing omnichannel solutions to enhance customer experience is anticipated to drive the growth of the market over the forecast period.
Enterprises are trying hard to effectively reach out to customers residing in different parts of the world in line with the continued globalization. However, this has subsequently increased the burden on the customer care executives to manage the entire database and address all the issues efficiently. As a result, enterprises are widely adopting AI-powered contact center solutions that can potentially facilitate the centralization of the customer database and allow the agents to perform all the tasks effectively.
The intelligent Interactive Voice Response (IVR) system segment led the market and accounted for more than 45.01% share of the global revenue in 2019. The high segment demand can be attributed to the increasing need for segmenting, identifying, and routing calls to the most appropriate agent. Conversational IVR can offer valuable opportunities to improve interactions with customers. These systems can also help businesses in increasing operational efficiency.
The integration and deployment segment dominated the market and accounted for more than a 40.01% share of the global revenue in 2019. The integration and deployment segment is expected to continue its dominance over the forecast period as enterprises are putting a strong emphasis on improving the productivity of contact centers and enhancing customer service experience. Numerous businesses are focusing on integrating AI assistance into their contact centers to help in better understanding the customer trends. Such integration can also allow businesses to enable customer interaction channels with training, operational, and decision-making analytics.
The computer vision segment led the market and accounted for more than 30.01% share of the global revenue in 2019. The segment is expected to continue dominating the contact center intelligence market over the forecast period as computer vision technology allows contact centers to automatically extract and analyze data from both stills and videos. The efficient object recognition capabilities of computer vision technology help in classifying the nature of the customer call and assess its urgency. A computer vision-enabled platform can potentially identify the appropriate agent and department depending on the customer’s requirement for efficient service handling.
The on-premise segment dominated the market and accounted for more than a 55.01% share of the global revenue in 2019. The segment is anticipated to continue dominating the market over the forecast period as it provides complete ownership of the data to businesses. On-premise deployment permits large-scale customization of services while ensuring infrastructure flexibility. It also helps businesses in improving cost-efficiency in terms of setting up a control center for managing and coordinating different business operations and project management tasks.
The large enterprise segment led the market and accounted for more than a 53.01% share of the global revenue in 2019. The large enterprises continued to scout for innovative ways to effectively handle large volumes of data. Large enterprises have realized that enhancing customer experience can offer competitive advantages in terms of customer loyalty and business revenue. Hence, many enterprises are automating customer interactions to offer more personalized conversations
The IT & telecom segment dominated the market and accounted for more than a 25.01% share of the global revenue in 2019. The IT and telecom segment growth can be attributed to the continued rollout of broadband and mobile services. Communications service providers are under pressure to offer high-quality services and ensure a better customer experience. Hence, telecom companies are particularly considering leveraging the large volumes of data they are generating to enhance customer experience and retain the customer base, thereby creating growth opportunities for the IT and telecom segment over the forecast period.
North American region dominated the market and accounted for over 30.01% share of global revenue in 2019. Organizations, particularly in the U.S., have leveraged, and ML technologies to stay ahead in the market as a part of their ongoing business strategies. The U.S. and Canada are well-established economies and are hence vendors in these economies are investing aggressively in new technologies. Rapid advances in technology coupled with the presence of global vendors, such as Microsoft Corporation; IBM Corporation; and Amazon Web Services Inc.; in the region bode well for the growth of the regional market over the forecast period.
Amazon Web Services Inc.
Artificial Solutions International AB
Nuance Communications, Inc.
Intelligent Virtual Assistant (IVA)
Intelligent Interactive Voice Response (IVR) System
Integration & Deployment
Support & Maintenance
Training & Consulting
Natural Language Processing
Automatic Speech Recognition
Enterprise Size Outlook
Small & Medium Enterprises
Consumer Goods & Retail
IT & Telecom
Travel & Hospitality
The Middle East & Africa
The Contact Center Intelligence market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Contact Center Intelligence market for the base year 2020 and the forecast between 2021 and 2028. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Contact Center Intelligence market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Contact Center Intelligence market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Contact Center Intelligence market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Contact Center Intelligence capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Contact Center Intelligence by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Contact Center Intelligence market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2028. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Contact Center Intelligence market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Contact Center Intelligence market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Contact Center Intelligence industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Contact Center Intelligence market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Contact Center Intelligence market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Contact Center Intelligence market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Contact Center Intelligence market. These factors have benefited the growth of the global market for Contact Center Intelligence. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Contact Center Intelligence. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Contact Center Intelligence are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are: