BFSI Contact Center Analytics Market by Deployment and Geography - Forecast and Analysis 2022-2026

The BFSI contact center analytics market share is expected to increase by USD 326.61 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 15.26%.

This BFSI contact center analytics market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentations by deployment (cloud-based and on-premises) and geography (North America, Europe, APAC, South America, and MEA). The BFSI contact center analytics market report also offers information on several market vendors, including 8x8 Inc., Cisco Systems Inc., Enghouse Systems Ltd., Genesys Telecommunications Laboratories Inc., Genpact Ltd., Mitel Networks Corp., NICE Ltd., Oracle Corp., SAP SE, and Verint Systems Inc. among others.

What will the BFSI Contact Center Analytics Market Size be During the Forecast Period?

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BFSI Contact Center Analytics Market: Key Drivers and Trends

The need to improve customer relationship management for effective revenue generation is notably driving the BFSI contact center analytics market growth, although factors such as rising data privacy and security concerns may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the BFSI contact center analytics industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key BFSI Contact Center Analytics Market Driver

There is an increased need to improve customer relationship management for effective revenue generation. It is important for organizations to maintain a relationship with customers for effective revenue generation. Improving the relationship with customers also helps enterprises in gaining a larger market share and expand their customer base. Enterprises can deploy a contact center to market their products, sell their products, and solve customer queries about a BFSI product, which, in turn, will help them improve their customer relationship management. Hence, this will help in driving demand in the global BFSI contact center analytics market during the forecast period.

Key BFSI Contact Center Analytics Market Challenge

There have been rising data privacy and security concerns in the market in focus. Data security and privacy issues pose a serious challenge to any kind of IT deployment that consumes enterprise data as a part of its value chain. One of the top concerns for the global BFSI contact center analytics market is data security and privacy. Any mismanagement may lead to the creation of security loopholes that hackers can exploit to compromise the entire organization. This poses a significant challenge in the market in focus.

This BFSI contact center analytics market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Who are the Major BFSI Contact Center Analytics Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

• 8x8 Inc.
• Cisco Systems Inc.
• Enghouse Systems Ltd.
• Genesys Telecommunications Laboratories Inc.
• Genpact Ltd.
• Mitel Networks Corp.
• NICE Ltd.
• Oracle Corp.
• SAP SE
• Verint Systems Inc.

 

This statistical study of the BFSI contact center analytics market encompasses successful business strategies deployed by the key vendors. The BFSI contact center analytics market is fragmented, and the vendors are deploying growth various organic and inorganic growth strategies to compete in the market.

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.

The BFSI contact center analytics market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for BFSI Contact Center Analytics Market?

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43% of the market's growth will originate from North America during the forecast period. The US is a key market for BFSI contact center analytics in North America. Market growth in this region will be faster than the growth of the market in APAC, Europe, South America, and MEA.

The major factor that fuels the growth of the BFSI contact center analytics market in North America is the growing adoption of contact center analytics, including multichannel customer interaction analytics, speech analytics, and contact center performance analytics applications in the region. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Deployment Segments in the BFSI Contact Center Analytics Market?

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The BFSI contact center analytics market share growth by the cloud-based deployment model segment will be significant during the forecast period. The cloud-based deployment model has been growing in the BFSI sector over the last five years because it provides scalability and flexibility to the contact center by creating an integrated, automated, secure, and well-managed computing environment in a cost-effective manner. The adoption of cloud-based contact center analytics helps BFSI companies in goal-based planning, provides proactive insights about customers, and facilitates personalized outreach to customers.

This report provides an accurate prediction of the contribution of all the segments to the growth of the BFSI contact center analytics market size and actionable market insights on the post-COVID-19 impact on each segment.

 

BFSI Contact Center Analytics Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 15.26%
Market growth 2022-2026	$ 326.61 million
Market structure	Fragmented
YoY growth (%)	12.22
Regional analysis	North America, Europe, APAC, South America, and MEA
Performing market contribution	North America at 43%
Key consumer countries	US, China, UK, India, and Germany
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	8x8 Inc., Cisco Systems Inc., Enghouse Systems Ltd., Genesys Telecommunications Laboratories Inc., Genpact Ltd., Mitel Networks Corp., NICE Ltd., Oracle Corp., SAP SE, and Verint Systems Inc.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this BFSI Contact Center Analytics Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive BFSI contact center analytics market growth during the next five years
• Precise estimation of the BFSI contact center analytics market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the BFSI contact center analytics industry across North America, Europe, APAC, South America, and MEA
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of BFSI contact center analytics market vendors

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