Global Contact Center Intelligence Market By Component (Solution and Services), By Technology (Computer Vision, Automatic Speech Recognition, Machine Learning, Natural Language Processing and Others), By Deployment Type (On-premise and Hosted), By End User (Telecom & IT, Government, Healthcare, Consumer Goods & Retail, Travel & Hospitality, BFSI and Others), By Region, Industry Analysis and Forecast, 2020 - 2026
The Global Contact Center Intelligence Market size is expected to reach $3.7 billion by 2026, rising at a market growth of 23.4% CAGR during the forecast period. Artificial intelligence (AI) is a part of rising innovations, and its application in contact centers is still new and developing. Notwithstanding, there are some encouraging instances of how it can lessen operational expenses, customize the client experience, increment agent productivity, and give more noteworthy analysis. Chatbots might be the most obvious utilization of Artificial intelligence (AI) in the customer service process. At the point when clients decide to chat online with business, chatbots welcome them, gather some background data, and attempt to solve the client's issue. AI chatbots are acceptable at tackling basic issues; however, the more complex issues need an operator's touch. The AI chatbot will pass along data that is gathered to make the change as consistent as could be possible and to fuel agent proficiency.
The demand for AI in the contact centers is probably going to increase because of growth in demand for enhanced customer support service in call centers, exponentially developing volume of information, expanding customer commitment through numerous platforms, for example, website, social media, email, and developing utilization of AI-empowered chatbots to oversee work activities productively and viably. Additionally, AI frameworks prefill the data in the ticketing instrument during recording a ticket based on the previous memory. Hence, the function of AI is incredibly demanding in the contact center field.
Enterprises are vigorously choosing omnichannel solutions and speech innovation as a feature of the efforts to retain their clients. AI-enabled solutions are especially assisting enterprises in lessening the time needed for understanding and resolving queries of the customer. The developing need to search for different approaches to improve retention of customers looks good for the development of the market over the forecast period.
Based on Component, the market is segmented into Solution and Services. Solutions segment is further bifurcated across Intelligent Interactive Voice Response (IVR) System, Chatbot and Intelligent Virtual Assistant (IVA). Based on Technology, the market is segmented into Computer Vision, Automatic Speech Recognition, Machine Learning, Natural Language Processing and Others. Based on Deployment Type, the market is segmented into On-premise and Hosted. Based on End User, the market is segmented into Telecom & IT, Government, Healthcare, Consumer Goods & Retail, Travel & Hospitality, BFSI and Others. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
The major strategies followed by the market participants are Partnerships and Product Launches. Based on the Analysis presented in the Cardinal matrix; Google, Inc., Cisco Systems, Inc., IBM Corporation, Oracle Corporation, and Microsoft Corporation are the forerunners in the Contact Center Intelligence Market. Companies such as Five9, Inc., NICE Ltd., Zendesk, Inc., 3CLogic Software, Inc., and SAP SE are some of the key innovators in the market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Cisco Systems, Inc., Oracle Corporation, Google, Inc., SAP SE, Microsoft Corporation, IBM Corporation, NICE Ltd., Five9, Inc., Zendesk, Inc., and 3CLogic Software, Inc.
Recent strategies deployed in Contact Center Intelligence Market
Partnerships, Collaborations, and Agreements:
Aug-2020: 3CLogic came into partnership with AVANT Communications, a platform for IT decision-making and the nation’s premier distributor for next-generation technologies. 3CLogic’s solution seamlessly enabled enterprise organizations to natively integrate voice and contact center features with leading enterprise platforms, such as ServiceNow and Microsoft Dynamics.
Jul-2020: Google signed an agreement with Verizon, a telecommunications company. Under this agreement, Verizon becomes the newest customer of Google Cloud Contact Center AI service, which aims to bring natural language recognition to the often inscrutable phone menus.
May-2020: Zendesk announced its partnership with NICE inContact, a NICE business, and the leader in the cloud contact center. Under the partnership, the companies were focused on supporting contact centers responding to changing customer demands. Now, the companies can use NICE inContact CXone@home with the Zendesk Support Suite and the complimentary Zendesk Remote Support Bundle to help remote contact center and help desk teams keep up with increased interactions due to COVID-19.
Jan-2020: Microsoft extended its partnership with Genesys, a company that sells customer experience and call center technology to mid-sized and large businesses. The expansion was focused on providing the enterprises with a new cloud service for contact centers that enabled them to deliver superior interactions for customers. With the omnichannel customer experience solution, Genesys Engage running on Microsoft Azure, enterprises have the security and scalability they need to manage the complexities involved with connecting every touchpoint throughout the customer journey.
Dec-2019: Zendesk extended its collaboration with Amazon Connect following which it unveiled a strategic, go-to-market solution package. The enhanced integration enabled both Amazon Connect customers and Zendesk Support customers to use multiple sophisticated artificial intelligence (AI) and machine learning (ML) services from Amazon Web Services (AWS) to improve contact center agent efficiency while reducing the time end-customers spend interacting with customer service. This solution was designed for helping businesses to deploy the latest generation of proactive, anticipatory customer service.
Dec-2019: Five9 announced its partnership with Zoom Video Communications. The partnership was focused on developing a cloud-to-cloud telephony integration between Zoom Phone and the Five9 Intelligent Cloud Contact Center. This integration enabled calls to be seamlessly routed between the Zoom Phone unified communications application and Five9. Seamlessly connecting callers between the Zoom cloud and Five9 allowed organizations to optimize the interaction between their contact center and UC platforms.
Nov-2019: Google entered into a collaboration with Avaya Holdings, a global leader in solutions to enhance and simplify communications and collaboration. Following the collaboration, Google Cloud Contact Center (CC) AI capabilities have been integrated with Avaya IX Contact Center solutions and are available for global customers. The combination of Avaya AI conversation services and Google Cloud CC AI are providing a better experience for clients by seamlessly blending automated and assisted experiences throughout a customer’s interaction with the contact center.
Acquisition and Mergers:
Jul-2020: Microsoft took over Metaswitch Network, a provider of virtualized network software and voice, data, and communications solutions for operators. The acquisition complemented Microsoft's Communication portfolio and would help them to deliver innovative solutions that drive the evolution of modern communications markets.
Nov-2019: Five9 took over Whendu, owner of a leading Integration Platform-as-a-Service (iPaaS) platform. The acquisition accelerated the former company's contact center migration to the cloud by making it easier for enterprises to integrate with their existing environment and carry forward customized business processes.
ct-2019: Cisco acquired CloudCherry, the customer experience management (CEM) company. After the completion of the acquisition, CloudCherry works with global enterprise clients offering SaaS tools to enhance customer interaction and experience on websites. Its software solution includes customer journey mapping, out-of-the-box integrations, and predictive analytics.
Sep-2019: Cisco completed the acquisition of Voicea, a privately held voice-focused Artificial Intelligence (AI) technology company. With this acquisition, Cisco enhanced its Webex meetings, calling, contact center, and other voice assets with a powerful transcription service that blends AI and Automated Speech Recognition (ASR) to unlock the power of any collaboration, like meetings and calls.
Product Launches and Product Expansions:
Sep-2020: Five9 introduced the Five9 Agent Assist, which extended Five9 Intelligent Cloud Contact Center capabilities with assistance focused on helping the agent during and after calls. Using AI-based, real-time call transcriptions, Five9 Agent Assist provides the first use case, a powerful new capability called Assisted Summarization. With this technology, Five9 Agent Assist can summarize calls and with optional confirmation from the agent, save it into the CRM or other system of record, with a single click.
Jun-2020: Five9 unveiled the Five9 Virtual Assistant, a best-in-class Intelligent Virtual Assistant (IVA), powered by Inference. This Assistant uses conversational-AI to automate manual tasks and answer common questions in the contact center. Five9 Virtual Assistant delivers engaging conversational experiences for organizations, which need both greater efficiency and a more personal, human element in their approach to customer care.
May-2020: Five9 launched four new applications to speed up the Contact Center workflow automation deployment and management. These applications would address the challenges faced in delivering omnichannel customer experience to targeted use cases. The applications aimed to provide real-time dashboards and customer outreach optimization, empowering agents with completely customizable Contact Center as a Service (CCaaS).
Mar-2020: Zendesk released expanded versions of its Support Suite and Sunshine CRM Platform with new ways for companies to connect with customers and have natural conversations across all touchpoints. The company also launched its new Sales Suite. The expanded Zendesk Support Suite features new channels through social messaging services and improved omnichannel agent experience. The new Support Suite enables businesses to see one comprehensive view of all of the latest conversations. The new agent workspace adapted to provide agents with the relevant context and tools whether the customer calls, emails, or messages the company.
Sep-2019: Cisco Systems announced updates to its contact center portfolio. Some of the updates to the Cisco Webex Contact Center solution include increasing capacity up to 3,000 agents per tenant, integrating Webex Calling into the contact center solution to improve call quality and adding data centers for Webex Contact Center in the United Kingdom and Australia. Other upgrades include a more conversational Interactive Voice Response (IVR) feature and a redesigned agent desktop.
Sep-2019: Oracle launched the AI-trained voice with Oracle Digital Assistant. Now, enterprise customers can use voice commands to communicate with their enterprise applications to drive desired actions and outcomes, enriching the user experience with conversational AI, simplifying interactions, and improving productivity.
Scope of the Study