Voice and Speech Analytics Market is forecast to grow at 17.80% for 2020 to 2027 and is estimated to reach a market value of 4.17 billion by 2027 with factors such as high cost of voice analytics solutions is hindering the growth of the market.
The major growth drivers of voice and speech analytics market comprise an increasing focus on higher customer satisfaction and rising significance for real-time speech analytics solutions. Further, positive impact created by artificial intelligence will create new opportunities for the growth of voice and speech analytics market in the above mentioned forecast period.
Voice and Speech Analytics Market Scenario
According to Data Bridge Market Research the voice and speech analytics market is developing owing to factors like increasing demand of monitor along with growing improvement in agent performance, surging risk and fraud detection, rising need to extract insights through customer interaction, adoption of emotion analysis and expansion of e-commerce platforms and provision of customer satisfaction. The less number of skilled workforces will act as a restrain for voice and speech analytics market.
Now the question is which are the regions that solvent market players should target? Data Bridge Market Research has forecast North America will dominate the voice and speech analytics market due to surging demand for analytics solution for making customer-centric decisions.
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Voice and Speech Analytics Market Developments
- In February 2019, Micro Focus acquired Interset, the worldwide leader in security analytics software which provides highly intelligent and precise cyber-threat protection. Micro Focus addition of analytical technology has enhanced the Security, risk and Government portfolio and maintains company's strategy to help customers to quickly and accurately authorize and accuse risk as they digitally transform businesses.
Scope of Voice and Speech Analytics Market
Voice and speech analytics market is segmented on the basis of countries into U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
- All country based analysis of the voice and speech analytics market is further analysed based on maximum granularity into further segmentation. On the basis of component, has been segmented as solution and services. Based on industry vertical, voice and speech analytics market has been segmented into banking, financial services, and insurance, telecommunications and IT, retail and ecommerce, healthcare and life sciences, media and entertainment, government and defence, energy and utilities, travel and hospitality and others. On the basis of deployment model, voice and speech analytics market has been segmented into on-premise and cloud. Based on organisation size, voice and speech analytics market has been segmented into small and medium-sized enterprises and large enterprises. On the basis of application segment, for voice and speech analytics market includes sentiment analysis, customer experience management, call monitoring, agent performance monitoring, sales performance management, competitive intelligence, risk and com pliance management and others.
- Emotion analytics is widely preferred in customer management to examine the voice and speech of customers and for better understanding of their behavior to help in making strategies for the market. So, the adoption of emotion analytics is rising across the world for the improvement of business productivity and profitability. Thus, with the increasing demand for emotion analytics will enhance growth of the voice and speech analytics market.
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Key Pointers Covered in the Voice and Speech Analytics Market Industry Trends and Forecast to 2027
- Market Size
- Market New Sales Volumes
- Market Replacement Sales Volumes
- Installed Base
- Market By Brands
- Market Procedure Volumes
- Market Product Price Analysis
- Market Shares in Different Regions
- Recent Developments for Market Competitors
- Market Upcoming Applications
- Market Innovators Study
Key Market Competitors Covered in the report
- Verint, NICE Ltd
- CallMiner
- Avaya Inc
- Genesys
- Clarabridge
- Voci Technologies, Inc
- ZOOM International
- Calabrio
- Hewlett Packard Enterprise Development LP
- AlmavivA
- Marchex, INC
- Enghouse Interactive
- Castel Communications
- Aspect Software, Inc
- Sabio Ltd, Business Systems (UK) Ltd
- Talkdesk, Inc
- VoiceBase, Inc
Above are the key players covered in the report, to know about more and exhaustive list of voice and speech analytics companies, contact us https://www.databridgemarketresearch.com/toc/?dbmr=global-voice-and-speech-analytics-market
Research Methodology of Global Voice and Speech Analytics Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecast using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global Vs Regional Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
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