As the well-known industries head in the future, emerging call center technologies are considered more crucial than before. Emerging technologies not only improve business operations but also enhance efficiency and productivity as well. These technologies include chatbots, NLP, cloud-based software, and much more.
According to market research, the global contact center software market is expected to grow at a compound annual growth rate (CAGR) of 17.9%. From $16.8 billion in 2019 to $38.1 billion by 2024. In this complete guide, we will explore 7 must-have emerging call center technologies.
1. Chatbots
Chabot is the foremost and widely used technology in the call center industry. The agents become capable of solving and handling numerous queries of customers with long waiting times. Whether clients contact agents via call or text messages they promptly answer their questions and address their issues.
Chatbot ensures 24/7 customer service and helps to improve the customer’s loyalty by on-time solutions to their problems or queries. According to a study, 80% of businesses use chatbots to solve their daily answering operations in 2020. What’s next? In 2024 the chatbot system developed more and worked more efficiently.
2. AI_ Artificial Intelligence
Artificial intelligence (AI) is another emerging technology, especially in call centers that are used across the world. AI-powered chatbots and other tools are just the beginning. AI is also being used to collect and examine customer data, identify patterns, and improve call center overall performance. Through AI, call center owners can train the agents with the latest ways to offer service to customers and improve business performance.
It is suggested that call centers that use emerging technologies or AI-powered such as chatbots, speech recognition, and analytical systems will become even more important in the years to come.
3. AR_ Augmented Reality
AR_ Augmented Reality is the latest and biggest developing technology that has the power to transform the call center industry. According to a report by MarketsandMarkets, the AR_, augmented reality market is predicted to reach $61.39 billion by 2023, at a CAGR of 37.1%. Augmented reality (AR) enables agents to observe consumer challenges and deliver prompt answers Through the use of both virtual and real-time solutions. It’s so simple, that an agent could use augmented reality (AR)technology to help a consumer product issue or address them through a troubleshooting process.
4. Cloud-Based Software
Cloud-based software is another emerging technology that is set to develop your call center. Through this technology, agents get access to customer data, call recordings, and other important information from anywhere in the world. Cloud-based software also removes the need for costly on-site set-up making it an economical solution for call centers of all sizes.
According to a report by ResearchAndMarkets, the cloud-based contact center market is estimated to grow at a CAGR of 39.6% from $6.8 billion in 2019 to $36.1 billion by 2024.
5. Predictive Analytics
Predictive Analytics is an emerging technology that is used to collect data from clients and guess their behavior in the future as well. What’s the best part? Well, the best part is that this technology helps call centers detect high-value customers, manage the largest call volume, and even predict the customer’s churn and diverse preferences. This growth is being driven by the increasing need for contact center solutions that are data-driven.
The predictive analytics market is anticipated to expand from $4.6 billion in 2019 to $10.9 billion by 2024 at a compound annual growth rate (CAGR) of 19.8% according to a report.
6. Speech Recognition Technology
Speech Recognition technology is the modern emerging technology that is used to transform call center answering services. This technology is implemented by natural language processing NLLP) to explore speech patterns and precisely record customer calls. This lets agents highlight the discussion and supports them to fast identify main matters or concerns and address them as soon as possible.
According to a survey and Grand View Research report, the speech and voice recognition market is predicted to touch $31.82 billion by 2025, at a CAGR of 17.2%.
7. Social Media Monitoring
Social media monitoring is a developing technology that is the latest technology used by a vast range of call centers in the digital era. it allows call centers to observe and examine customer conversations on social media platforms and make their services exceptional. These platforms include such as Twitter, Facebook, Instagram, etc.
Most importantly, this technology helps call centers gain clients’ loyalty and understanding of customer needs efficiently. Further, it is crucial to provide quick responses to customer queries and fix them. The social media analytics market is projected to develop from $1.4 billion in 2018 to $9.5 billion by 2025.
Final Remarks
Emerging call center technologies are key to setting your call center service apart from competitors and winning clients’ loyalty. Plus, with developing technologies call center agents are not only able to reduce the workload stress. But more than that, increases productivity, 100% clarity, and preciseness of information or data that is collected by using modern technologies. Hence, emerging technologies are essential to fuel your call center answering services.
