Contact Center Intelligence Market Size, Share & Trends Report

Contact Center Intelligence Market Size, Share & Trends Analysis Report By Solution, By Service, By Technology, By Deployment, By Enterprise Size, By End Use, By Region, And Segment Forecasts, 2020 - 2027

  • Published Date: Sep, 2020
  • Base Year for Estimate: 2019
  • Report ID: GVR-4-68039-030-4
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2018
  • Number of Pages: 160

Report Overview

The global contact center intelligence market size was valued at USD 1.07 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 23.5% from 2020 to 2027. The rising preference for Artificial Intelligence (AI)-based solutions to offer enhanced customer support services is expected to drive the market growth. AI assistance allows businesses to offer personalized customer support and real-time customer services. AI assistance also helps in improving call deflection rates, reducing agent training costs, and achieving shorter handling times. Enterprises are trying aggressively to automate customer service interactions. Social media is emerging as the most preferred platform for customer interaction. Numerous contact centers have rolled out automated processes for digital channels, such as social media, to interact with customers and identify new sales opportunities.

U.S. contact center intelligence market size

AI-integrated social media monitoring solutions are helping agents in better understanding the customers’ feedback. The rising level of customer engagement through social media platforms is anticipated to drive the growth of the market over the forecast period. The rising volumes of data being generated by organizations and the growing adoption of AI-powered chatbots to manage work operations efficiently and effectively are some of the leading factors that bode well for the growth of the market. Conversational AI is widely adopted by businesses to enhance customer experience while reducing the operational costs of contact centers. AI-powered chatbots are particularly helping agents with the relevant data to transform customer calls into intelligent decision-driven actions. The subsequent improvement in self-service and agent utilization is further reducing contact center costs.

Initiatives aimed at adding value to contact center AI assistances through the integration of gesture recognition capabilities are anticipated to create growth opportunities for the market over the forecast period. Voice AI agents and chatbots can potentially capture the data from customer interactions and feed it into analytics software. This data can be further analyzed using AI technology to gain insights into the behavioral trends of customers. These trends can play a crucial role in drafting business strategies and addressing customers’ concerns.

AI-powered techniques, such as predictive behavioral routing, are helping organizations in engaging effectively with their customers. However, rising concerns over data security and privacy protection are making customers wary of allowing companies to collect their data. In 2018, research by Accenture revealed that 88% of customers agree to the fact that companies that offer personalized services without compromising with their trust are more appealing than others. Given such trends, businesses are putting a strong emphasis on maintaining transparency and educating customers about data collection.

Solution Insights

The intelligent Interactive Voice Response (IVR) system segment led the market and accounted for more than 45.0% 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 IVA segment is expected to register the highest CAGR over the forecast period. With businesses going digital, customers are preferring online interaction tools over telephonic conversations with the agents, thereby creating growth opportunities for the IVA segment over the forecast period. IVA leverages data integration, machine learning, and speech recognition technologies to offer an efficient customer engagement platform. The effective personalized responses and real-time conversational capability of IVA can be critical in offering satisfying and seamless customer experiences.

Service Insights

The integration and deployment segment dominated the market and accounted for more than a 40.0% 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 managed services segment is anticipated to register the fastest growth over the forecast period. Managed services for AI-based contact centers help businesses in managing complex multi-vendor infrastructure so that in-house agents can focus on revenue-generating projects, such as customer services. These services help organizations in delivering continuous operational improvement by supporting, monitoring, and optimizing contact center solutions. Numerous companies are adopting managed services to stay connected with customers and drive productivity while reducing operational costs.

Technology Insights

The computer vision segment led the market and accounted for more than 30.0% 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 machine learning segment is anticipated to register the fastest growth over the forecast period. Machine learning algorithms help customers in effectively reaching out to the appropriate representative. This, in turn, curbs call abandonment and reduces repeat call duration periods. Moreover, on-screen prompts based on machine learning analysis allow agents to effectively deal with customer problems or queries.

Deployment Insights

The on-premise segment dominated the market and accounted for more than a 55.0% 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 hosted deployment segment is anticipated to register the fastest growth over the forecast period. The major benefit of hosted deployment is that enterprises using hosted services do not have to upgrade the services constantly. Contact centers have always been challenging environments involving large volumes of data and extensive workloads. However, the flexibility of cloud technology helps agents in being more responsive to customers’ needs.

Enterprise Size Insights

The large enterprise segment led the market and accounted for more than a 53.0% 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 small and medium enterprises segment is anticipated to register the fastest growth over the forecast period. Numerous Small and Medium Enterprises (SMEs) across the globe are looking forward to AI-powered solutions for providing more adaptive, interactive, and flexible solutions to cater to changing customer requirements. Automated chat platforms can particularly allow SMEs to scale their customer engagement platforms and free up agents for handling more critical customer interactions. These platforms can also aid in determining purchasing patterns, understanding customer needs, and expanding the range of services to offer relevant offers and rewards.

End-use Insights

The IT & telecom segment dominated the market and accounted for more than a 25.0% 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.

Europe contact center intelligence market share

Consumer goods and retail is expected to emerge as the fastest-growing end-use segment over the forecast period. The consumer goods and retail industry is witnessing an increased adoption of AI-based contact center solutions as companies operating in this industry are looking forward to gaining useful insights from integrated data sources. With intelligent automation, retailers are envisaging new approaches to customer interaction and engagement. Various retailers are leveraging real-time messaging, and automated and tailored offers to engage customers and incentivize them to make a purchase.

Regional Insights

North American region dominated the market and accounted for over 30.0% share of global revenue in 2019. Organizations, particularly in the U.S., have leveraged deep learning, AI, 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.

Asia Pacific is expected to emerge as the fastest-growing regional market over the forecast period. The growth of the regional market can be attributed to the increasing number of startup companies being established in the region. Various factors, such as evolving customer expectations, increasing rate of innovation, and improvement in employee productivity, are expected to create growth opportunities for the regional market growth. Aggressive investment in technologies, such as speech analytics and voice recognition, would also play a crucial role in driving the growth of the regional market over the forecast period.

Key Companies & Market Share Insights

The market is consolidated in nature. The key vendors are pursuing different strategies, including strategic agreements and partnerships, acquisitions, and product launches, to cater to the growing demand for AI solutions for contact centers. For instance, in October 2018, Lenovo Group Limited signed an agreement with IBM Corporation to deploy contact center AI solutions based on Augmented Reality (AR) and virtual assistant. Under the agreement, IBM Corporation would offer technical support in MEA, Latin America, and North America, among other markets.

Major players in the market are focusing on leveraging strategic collaborative initiatives to expand their customer base across the globe and increase their market share. For instance, in April 2019, Google, Inc. launched a beta version of its AI-based contact center, which uses various tools, including Google's text-to-speech and Dialogflow capabilities. The service is anticipated to allow users to build a virtual agent system. Vendors are constantly focusing on innovation to differentiate their solutions and service offerings from those of their rivals. Some of the prominent players in the contact center intelligence market include:

  • Amazon Web Services Inc.

  • Artificial Solutions International AB

  • Avaya Inc.

  • Google Inc.

  • IBM Corporation

  • Microsoft Corporation

  • Nuance Communications, Inc.

  • Oracle Corporation

  • SAP SE

  • Zendesk, Inc.

Contact Center Intelligence Market Report Scope

Report Attribute

Details

Market size in 2020

USD 1.32 billion

Revenue forecast in 2027

USD 5.78 billion

Growth rate

CAGR of 23.5% from 2020 to 2027

Base year of estimation

2019

Historical data

2016 - 2018

Forecast period

2020 - 2027

Quantitative units

Revenue in USD million and CAGR from 2020 to 2027

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Solution, service, technology, deployment, enterprise size, end-use, region

Regional scope

North America; Europe; Asia Pacific; South America; MEA

Country scope

The U.S.; Canada; Germany; The U.K.; China; India; Japan; Brazil

Key companies profiled

Amazon Web Services Inc.; Artificial Solutions International AB; Avaya Inc.; Google Inc.; IBM Corporation; Microsoft Corporation; Nuance Communications, Inc.; Oracle Corporation; SAP SE; Zendesk, Inc.

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Free report customization (equivalent to up to 8 analysts’ working days) with purchase. Addition or alteration to country, regional & segment scope

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Segments Covered in the Report

The report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For the purpose of this study, Grand View Research has segmented the global contact center intelligence market report based on solution, service, technology, deployment, enterprise size, end-use, and region:

  • Solution Outlook (Revenue, USD Million, 2016 - 2027)

    • Chatbot

    • Intelligent Virtual Assistant (IVA)

    • Intelligent Interactive Voice Response (IVR) System

  • Service Outlook (Revenue, USD Million, 2016 - 2027)

    • Integration & Deployment

    • Support & Maintenance

    • Training & Consulting

    • Managed Services

  • Technology Outlook (Revenue, USD Million, 2016 - 2027)

    • Natural Language Processing

    • Machine Learning

    • Automatic Speech Recognition

    • Computer Vision

    • Video Recognition

  • Deployment Outlook (Revenue, USD Million, 2016 - 2027)

    • Hosted

    • On-premise

  • Enterprise Size Outlook (Revenue, USD Million, 2016 - 2027)

    • Large Enterprises

    • Small & Medium Enterprises

  • End-use Outlook (Revenue, USD Million, 2016 - 2027)

    • BFSI

    • Consumer Goods & Retail

    • Government

    • Healthcare

    • IT & Telecom

    • Travel & Hospitality

    • Others

  • Regional Outlook (Revenue, USD Million, 2016 - 2027)

    • North America

      • The U.S.

      • Canada

    • Europe

      • Germany

      • The U.K.

    • Asia Pacific

      • China

      • India

      • Japan

    • Latin America

      • Brazil

    • The Middle East & Africa

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