In a world where customer satisfaction reigns supreme, the Global Agent Performance Optimization Market has emerged as a game-changer. This dynamic sector is poised to grow significantly, with an expected rate of around 12% during the forecast period. Agent performance optimization, primarily utilized in agent-centric technology contact centers, is rewriting the rules of the customer service game. In this article, we'll explore the facets of this burgeoning industry, its key players, and the insights that are steering its growth.
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Agent Performance Optimization: Redefining Contact Centers
Agent performance optimization is the linchpin in agent-centric technology contact centers. These centers leverage cutting-edge software to achieve a trio of goals: reducing labor costs, boosting agent productivity, and elevating service standards. The outcomes are quantifiable, resulting in rapid payback periods and a compelling return on investment. This market's growth is propelled by the tangible advantages it offers.
Driving Forces: A Revolution in Customer-Agent Interaction
The relentless pursuit of a superior customer experience is the driving force behind the expansion of the agent performance optimization market. This emphasis on quality customer-agent interaction, especially in emerging industries, is fostering the need for advanced solutions. The ubiquitous use of smartphones and high-speed internet is amplifying this need. Additionally, the adoption of new and advanced technologies, particularly in developing nations, is further propelling market growth.
Rising Investment and IT Sector Expansion
The escalating investments in labor management and quality control are paving the way for market expansion. Emerging IT markets in countries like China and India are contributing to this growth, as businesses seek to optimize their operations. Furthermore, the IT sector's global expansion is bringing agent performance optimization to the forefront, as companies recognize its value in achieving excellence in customer service.
Outsourcing activities in developed nations are also expected to propel the market's growth during the forecast period. To put this into perspective, a staggering 66% of businesses in the United States outsource at least one department, as reported by Zippia.com. This trend underlines the global relevance of agent performance optimization.
Key Players: Leading the Charge
The agent performance optimization market is guided by industry leaders who are constantly innovating to stay ahead. Notable key players include Micro Focus, Alvaria, Calabrio Inc, NICE, CallMiner, ClickFox Inc, Genesys, Enkata Technologies Inc, InVisionApp Inc, and Five9, Inc. These organizations have embraced mergers, acquisitions, and strategic partnerships to offer customers hi-tech and innovative products and technologies.
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Insights: Shaping the Future of Agent Performance Optimization
Quality Monitoring Software Dominates
In terms of components, the market is segmented into quality monitoring and workflow management software. Quality monitoring software is set to exhibit a significant compound annual growth rate (CAGR) during the forecast period. This software empowers users to record, capture, analyze, and enhance interactions between agents and customers, thereby driving its growth. Quality monitoring software also enables organizations to provide exceptional customer service, setting them apart from the competition. Additionally, workforce management (WFM) is used as a predictive tool to optimize agent performance based on historical data.
Large Enterprises Lead the Way
The market, segmented by application into small and medium enterprises and large enterprises, sees large organizations taking a significant market share. The sheer number of employees in large enterprises necessitates their adoption of agent performance optimization. Furthermore, these organizations heavily invest in their workforce, making agent performance optimization an essential tool for achieving efficiency and excellence in customer service.
North America's Prominence
In 2020, North America held a substantial share of the global agent performance optimization market. The region's growth can be attributed to its advanced IT infrastructure and the proliferation of global outsourcing hubs. For instance, the U.S. outsources approximately 300,000 jobs, as reported by Capital Counselor. The presence of key market players, combined with the increasing outsourcing activities, is expected to continue driving the market in North America during the forecast period.
In conclusion, the Global Agent Performance Optimization Market is poised for remarkable growth, driven by the need for superior customer service, technological advancements, and the increasing adoption of advanced solutions. The industry leaders, insights, and market dynamics are steering this transformation, heralding a new era of customer-agent interaction excellence.
Agent performance optimization is widely used in contact centers for agent-facing technologies.
These contact center applications essentially seek to reduce workforce costs, increase agent effectiveness, and improve service levels.
These tools ease manager’s task in planning schedules, forecasting agent requirements, measuring agent performance, analyzing results and improving outcomes.According to this study, over the next five years the Agent Performance Optimization (APO) market will register a 15.4% CAGR in terms of revenue, the global market size will reach US$ 4530 million by 2024, from US$ 1920 million in 2019.
In particular, this report presents the global revenue market share of key companies in Agent Performance Optimization (APO) business, shared in Chapter 3.This report presents a comprehensive overview, market shares and growth opportunities of Agent Performance Optimization (APO) market by product type, application, key companies and key regions.Ask for PDF Sample Copy: https://www.orbisresearch.com/contacts/request-sample/2785334The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market.
The Key Manufacturers covered in this report:NICE LtdGenesysVerint Systems IncAspectCalabrioFive9Teleopti ABZOOM InternationalInVision AGUpstream Works SoftwareEnvision TelephonyCallMinerCallFinderHigherGround, Inc.This study considers the Agent Performance Optimization (APO) value generated from the sales of the following segments:Segmentation by Product Type: Breakdown data from 2014 to 2019, and Forecast to 2024.Cloud BasedOn PremisesSegmentation by application: breakdown data from 2014 to 2019, in Section 2.4; and forecast to 2024 in section 10.8.Small & Mid-sized BusinessesLarge EnterprisesGet Reasonable Discount: https://www.orbisresearch.com/contacts/discount/2785334In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key players and the market as a whole.
It also analyzes key emerging trends and their impact on present and future development.The global Agent Performance Optimization (APO) market has been segmented by region which includes the Americas, United States, Canada, Mexico, Brazil, APAC, China, Japan, Korea, Southeast Asia, India, Australia, Europe, Germany, France, UK, Italy, Russia, Spain, Middle East & Africa, Egypt, South Africa, Israel, Turkey, GCC Countries.
11 October 2018 This report focuses on the global Agent Performance Optimization (APO) status, future forecast, growth opportunity, key market and key players.
These tools ease manager's task in planning schedules, forecasting agent requirements, measuring agent performance, analyzing results and improving outcomes.With today's complex and omnichannel customer journeys, executives and organizations should strive to get everything they can out of their workforce management system.
The bottom line is that optimizing contact center and call center performance will help to develop a competitive advantage as agent productivity is improved, customers' needs are proactively met, and, ultimately, revenues are increased.
Request a Free Sample Copy of this Report @ https://www.radiantinsights.com/research/global-agent-performance-optimization-apo-market-size-status-and-forecast-2018-2025/request-sample A Workforce Management solution can have a profound impact on all areas of the customer service - from long-term planning and intraday management, to follow-up and performance management.The market is growing at a very rapid pace and with rise in technological innovation, competition and M activities in the industry many local and regional vendors are offering specific application products for varied end-users.
The new manufacturer entrants in the market are finding it hard to compete with the international vendors based on quality, reliability, and innovations in technology.The industry is expected to remain innovation-led, with frequent acquisitions and strategic alliances adopted as the key strategies by the players to increase their industry presence.
These barriers include, but are not limited to: (i) product development costs; (ii) capital requirements; (iii) intellectual property rights; (iv) regulatory requirement; and (v) Transitions' unfair methods of competition.Despite the presence of competition problems, due to the global recovery trend is clear, investors are still optimistic about this area, the future will still have more new investment enter the field.
Market InsightDuring an indecisive time of COVID-19, Market Research Future has come with the newest study on the global web performance optimization market 2020.
The survey roofed the impact of COVID-19 on everything, including the economy.
On this, MRFR reveals that the global web performance market would be scaling up to high valuation.
The appraisal of the growth would take place during the years (2020 to 2027)—the forecasted period.Get a Free Sample @ https://www.marketresearchfuture.com/reports/web-performance-market-5609Top Trending FactorsThe growth of the e-commerce industry and the proliferation of images, videos, and rich media on the web are some of the towering factors that are expected to drive the growth of the global web performance market.
The high cost allied with web performance solutions is one of the significant challenges for solution providers which can be overcome with the aid of the cloud deployment model.
Thus, various businesses operating online are investing heavily in web performance to achieve online success.In the current time, most businesses are moving online to expand profit margins where web performance or site performance plays an essential tool for online success.
Web design is only part of it, of course.
To get a better understanding of what this entails, it is helpful to first have a basic idea of the topic.There are three major components of website performance optimization and they include the total number of visitors, page loads, and pageviews.
WPM is often considered more important than total web traffic because WPM reflects user behavior in the form of browsing actions, which can be recorded and analyzed.
However, most tools for tracking WPM are meant for measuring overall performance, so the correlation between user behavior and overall performance is less significant.
However, there are a few tools that focus specifically on user behavior, and these can be a valuable tool when used in conjunction with overall WPM measurements.It is often easier for website developers to optimize for a particular industry, geography, or market if the target audience is known.
Web analytics tools can be used to identify these target audiences and learn how to optimize websites to help them find what they are looking for.Web page load time is another important component of search engine optimization.
Legal Tech Media Group (LTMG), a full-service marketing agency dedicated to providing strategic, tactical , and business development services to companies delivering products and services to legal professionals, announced today the launch of Legal Tech Publishing (LTP).
The new publishing division PR of LTMG will spotlight innovative legal technology products.Legal Tech Publishing continues the tradition established by its predecessor, LexTech Review, of publishing the highly recognized annual Buyers Guide series, educational webinars, case studies, and whitepapers.
Recently appointed Editor-in-Chief Brett Burney will helm these projects with a team of experienced legal professionals.
Burney and the entire publishing division will contribute invaluable industry knowledge, deep relationships, and expertise to LTMG’s growing service offerings martech news.“LTP represents the natural next step for our client services and industry engagement,” said Chelsey Lambert and Cathy Kenton, Co-CEOs of Legal Tech Media Group.
“Legal Tech Publishing is more than a new service for our clients; the division represents the validation of technology, services, and personal expertise found within our community.
Our vision is for LTP to magnify legal technology to a larger audience, and we are excited to have created a dedicated team that exemplifies that dedication and passion martech.”With the launch of LTP, the 2020 buyers guide series will expand to increase the number of subject matter editions, readership, and market distribution.
