BFSI Contact Center Analytics Market to grow by USD 326.61 mn from 2021 to 2026| Evolving Opportunities with 8×8 Inc. & Cisco Systems Inc. |17000+ Technavio Reports

December 1, 2021 NEWS

NEW YORK, Dec. 1, 2021 /PRNewswire/ — 43% of the market growth for the BFSI Contact Center Analytics Market will originate from North America. 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 is the growing adoption of contact center analytics, including multichannel customer interaction analytics, speech analytics, and contact center performance analytics applications in the region. The BFSI contact center analytics market is set to grow by USD 326.61 million from 2021 to 2026, progressing at a CAGR of 15.26% as per the latest report by Technavio.

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The BFSI contact center analytics market covers the following areas:

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. The BFSI contact center analytics market report covers insights on major trends, key growth drivers, and challenges impacting the overall growth of the market. The holistic analysis of the drivers & challenges will help in deducing end goals and refining marketing strategies to gain a competitive edge.

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.

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.

BFSI Contact Center Analytics Market -Segmentation
Technavio analyzes the BFSI Contact Center Analytics Market by Deployment (cloud-based and on-premises) and Geography (North America, Europe, APAC, South America, and MEA). The BFSI contact center analytics market share growth by the cloud-based deployment model segment will be significant for revenue generation. 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.

Companies Mentioned

8×8 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.

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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
Companies profiled	8×8 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 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.

Key Topics Covered:

Executive Summary

Market Landscape

Market ecosystem
Value chain analysis

Market Sizing

Market definition
Market segment analysis
Market size 2021
Market outlook: Forecast for 2021 – 2026

Five Forces Analysis

Bargaining power of buyers
Bargaining power of suppliers
Threat of new entrants
Threat of substitutes
Threat of rivalry
Market condition

Market Segmentation by Deployment

Market segments
Comparison by Deployment
Cloud-based – Market size and forecast 2021-2026
On-premises – Market size and forecast 2021-2026
Market opportunity by Deployment

Customer landscape

Geographic Landscape

Geographic segmentation
Geographic comparison
North America – Market size and forecast 2021-2026
Europe – Market size and forecast 2021-2026
APAC – Market size and forecast 2021-2026
South America – Market size and forecast 2021-2026
MEA – Market size and forecast 2021-2026
Key leading countries
Market opportunity by geography
Market drivers
Market challenges
Market trends

Vendor Landscape

Vendor landscape
Landscape disruption

Vendor Analysis

Vendors covered
Market positioning of vendors
8×8 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.

Appendix

Scope of the report
Currency conversion rates for US$
Research methodology
List of abbreviations

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