North American Contact Center Intelligence Market to Grow 21.7 Percent Per Year Through 2026

Research firm Marqual IT Solutions expects the North American contact center intelligence market to grow at a compounded annual rate of 21.7 percent through 2026.

Globally, Marqual expects the contact center intelligence market  to reach $3.7 billion by 2026, rising at a 23.4 percent CAGR.

Grand View Research, meanwhile, expects the global contact center intelligence market size to reach $5.78 billion by 2027, registering a CAGR of 23.5 percent.

Among the solutions included in the analyses are intelligent interactive voice response systems, chatbots, and intelligent virtual assistants, enhanced with computer vision, automatic speech recognition, machine learning, and natural language processing.

Artificial intelligence (AI) takes the automated call distributor's routing and makes it considerably more intelligent, Marqual's report said, noting that contact centers can route requests based on factors like the customer persona and data gathered from past contacts.

Coordinating a customer with the perfect agent at the perfect time can do a ton to improve the experience of the customer, upgrade the analysis, and provide actionable insights, it adds.

Using AI, companies can analyze customer behavior to identify those in danger of churning and connect with them with customized offers, Marqual concluded.

Though used primarily by larger companies now, Marqual sees a growing number of smaller firms also looking to AI to improve contact center operations.

Enterprises have understood that incorporating the enormous volumes of information created on a single channel can improve representative efficiency, upgrade client experience, and lessen average call time per customer, while omnichannel arrangements can permit agents to switch across channels to get to similar contextual information, the firm said.

Smaller firms, meanwhile, are looking toward AI-enabled answers for more versatile, interactive, and adaptable answers to cater to changing client needs. Automated chat platforms can especially permit SMEs to scale their client engagement platforms and free up operators for more critical customer interaction. These platforms can likewise help in deciding buying trends, understanding client needs, and extending the scope of services to offer pertinent offers and rewards.

The Marqual report identifies Cisco Systems, Oracle, Google, SAP, Microsoft, IBM, NICE, Five9, Zendesk, and 3CLogic as leading providers in this segment. Grand View also includes Amazon Web Services, Artificial Solutions International, Avaya, and Nuance Communications in its list.