Agent Performance Optimization Market

Agent Performance Optimization Market Size & Growth (2023 - 2028)

In the forecast period of 2023-2028, the agent performance optimization (APO) market is projected to expand at a rate of 15.6 percent. Increasing demand for agent performance optimization tools is expected to be fueled by applications that perform enhanced recording and scheduling. In addition, new applications that collect data from traditional systems in order to create new efficient ways of data processing are allowed to accelerate market demand. Performance monitoring, dashboards, scorecards, coaching, and tailored training delivery are all made possible by enhanced tools. Speech analytics, desktop screen analytics, performance management systems, and simulation building tools for planning are all popular tools that help agents improve their performance. In the United States, the Agent Performance Optimization (APO) market is expected to be worth $668.8 million by 2020. China, the world's second-largest economy, is forecast to hit a market size of US$1.4 billion by 2026, an increase of 18.6% annually between 2021 and 2026. Japan and Canada are two other notable geographic markets, with forecasted growth rates of 10% and 12.6 percent, respectively, from 2023-2028. Germany is expected to rise at a CAGR of about 11.2 percent in Europe.

Recent Market Developments

• Observe.AI Unveils New AI-Powered Agent Performance & Coaching Suite to Fuel the Future of Remote Work

Market Drivers:

The agent performance optimization market is expected to be driven by significant shifts in technology, value enhancement, and how organizations view agent performance optimization. Another key factor for this market is expected to be the evolution of workforce management from simple hardware systems to a range of sophisticated applications for quality assurance, resulting in advanced solutions for agent performance optimization and customer experience.

Agent performance optimization is expected to widen the spectrum of possibilities and application scenarios, making it easier for management to convey the importance of the contact center to executives. This, in turn, leads to better planning, teamwork, versatility, and reaction to evolving business circumstances, all of which are expected to drive the agent performance optimization market forward in the coming years.

The market for agent performance enhancement is projected to be powered by an increase in demand for outsourcing contact center operations. Outsourcers can distinguish themselves from rivals by demonstrating full savings and value adds with agent performance optimization software, which is expected to drive the agent performance optimization segment in the outsourcing landscape. Demand analytics involving data, web, and speech processing, as well as event notification, may further skyrocket market demand in contact centers, where performance and cost control are paramount.

Market Restraints:

However, in the forecast period, the high cost of agent performance optimization (APO) software is expected to restrict market development.

AGENT PERFORMANCE OPTIMIZATION MARKET REPORT COVERAGE:

Market Segmentation

The market for agent performance optimization (APO) is segmented and sub-segmented into the following categories

Agent Performance Optimization Market – By Type:

• Cloud- based
• On-Premises

Cloud-Based segment is expected to rise at a 15.2 percent compound annual growth rate (CAGR) and hit US$4.7 billion by the end of the study period. Following an early evaluation of the pandemic's market consequences and the resulting economic downturn, the On-Premises segment's growth is updated to a revised 11.7 percent CAGR for the next seven years.

Agent Performance Optimization Market – By Application:

• Quality Monitoring
• Workforce Management Software

Quality Monitoring (QM) software allows users to log, retrieve, evaluate, and optimize agent/customer interactions, resulting in a large increase in the demand for agent performance optimization in the near future. Workforce Management (WFM), which is used as a forecasting tool to predict call volume based on historical trends, also plays an important role in the market for agent performance optimization.

Agent Performance Optimization Market – By End-User:

• Small and Mid-sized Businesses
• Large Enterprises

Regional Analysis:

Based on region, Agent Performance Optimization Market is divided into

1. North America
2. Latin America
3. Middle East & Africa
4. Asia-Pacific
5. Europe

In the forecast period of 2023-2028, North America will dominate the agent performance optimization (APO) market, while Asia-Pacific is expected to grow at the fastest rate due to the growing number of global outsourcing hubs for contact centers in the region.

Key Players:

Autonomy Corporation PLC, Aspect Software Inc., Calabrio Inc., NICE Systems Ltd., Verint Systems Inc., Voice Print International Inc., Nexidia, Inc., GMT Corporation, CallMiner Inc., ClickFox Inc., Genesys Telecommunications Laboratories Inc., Enkata, InVision Software AG, Merced Systems, HigherGround are some of the key players in the global agent performance optimization market.

Impact of Covid-19 on Agent Performance Optimization Market

COVID-19's pandemic has caused many contact centers to accept remote working in response to stay-at-home directives and employee health and safety concerns. Indeed, the pandemic is, among other items, a large-scale experiment in telecommuting, as the epidemic accelerates a long-term shift toward a remote workforce. As a result of social distancing mandates, about 90% of global contact center agents were forced to operate virtually from home during the pandemic. Transitioning to a work-from-home model has been relatively simple for contact centers in developing countries. The need for more technologists to step up as Agents of Transformation has not changed in the face of the COVID-19 pandemic. Following the COVID-19 crisis, the global market for Agent Performance Optimization (APO), which was projected to be worth US$2.5 billion in 2020, is expected to rise to US$6.3 billion by 2027. However, it has slow growth due to this pandemic, but it has a positive growth during the forecast period.