Speech Analytics Market, By Component (Services and Solutions), By Deployment Model (On-premise and

Published Date: | Report Code : IT1950668

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High growth of real estate, IT & Telecommunication, healthcare and other such industry in the emerging regions are expected to drive the demand of Speech Analytics Market during the forecast period.  Some of the major end-use industries in the speech analytics market have been witnessing strong growth in emerging regions such as the Asia Pacific and the Middle East.

It is the process of evaluating recorded customer calls to collect information. These recordings help the organization to provide rare insights about customer satisfaction, service issues, competitive intelligence, campaign effectiveness, and performance of the agent. It also improves communication and future interaction with customers. This helps to gain information related to the strategy and operational issues of the company.

The speech analytics software helps to obtain valuable information about the products and processes of the company. The speech analytics software reduces the operating expenses and helps businesses to improve their operational processes. This key factor is driving the demand for speech analytics.

The global speech analytics market is expected to witness high growth in the future due to its wide application in the BFSI, and IT & telecom industries.

Moreover, speech analytics tools help companies in quick decision making and increase the importance of voice in the multichannel world. The adoption of the analytic solution by corporates has increased the demand for speech analytics in the market. However, high initial investment costs and complex technology systems can pose challenges to the growth of the global speech analytics market.

Key Factors Impacting Market Growth:

  • Increase in the number of call centers
  • Importance of voice in the multichannel world
  • Focus on customer satisfaction

Regional Outlook: 

By region, the speech analytics market is estimated to be dominated by North America, Western Europe, and the Asia Pacific during the forecast period. With technological advancements and a cluster of global companies operating in these regions, these regions hold key to the growth and development of the speech analytics market during the forecast period. Most of the leading companies have operations in these regions to cater to the potential end-users in the respective region. The North America speech analytics market is further segmented by the US, Canada, and Mexico, whereas Germany, UK, France, Italy are estimated to be some of the major markets in Western Europe. Asia Pacific region is segmented by China, Japan, South Korea, India, and Australia. The Middle East and Eastern Europe are estimated to be potential markets with growing demand during the forecast period. Major countries in these regions include Russia, UAE, Saudi Arabia, Israel, and others.

Companies Covered: Verint Systems, Avaya, Calabrio, CallMiner, Clarabridge, Almawave, Voci Technologies, Zoom International, NICE Systems, Genesys, and HPE. 

Market Segmentation:

By Component:

  • Services
  • Solutions

By Deployment Mode:

  • On-premise
  • Cloud-based   

By Organization Size:

  • SMEs (Small & Medium-sized Enterprises)
  • Large Enterprises 

By Application:

  • Call Monitoring
  • Competitive Intelligence
  • Customer Experience Management
  • Agent Performance Monitoring
  • Sales Performance Management
  • Risk & Compliance Management
  • Others

By End-Use Industry:

  • IT & Telecommunications
  • Media & Entertainment
  • Travel & Hospitality
  • Real Estate
  • Education
  • Healthcare & Life Sciences
  • Energy & Utilities
  • Banking, Financial Services, and Insurance (BFSI)
  • Retail & E-Commerce
  • Travel & Hospitality
  • Government & Defense
  • Others

By Region:

  • North America
    • By Country (US, Canada, Mexico)
    • By Component
    • By Deployment Model
    • By Organization Size
    • By End-Use Industry
    • By Application
  • Western Europe
    • By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
    • By components
    • By Deployment Model
    • By Organization Size
    • By End-Use Industry
    • By Application
  • Eastern Europe
    • By Country (Russia, Turkey, Rest of Eastern Europe)
    • By components
    • By Deployment Model
    • By Organization Size
    • By End-Use Industry
    • By Application
  • Asia Pacific
    • By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
    • By components
    • By Deployment Model
    • By Organization Size
    • By End-Use Industry
    • By Application
  • Middle East
    • By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)
    • By components
    • By Deployment Model
    • By Organization Size
    • By End-Use Industry
    • By Application
  • Rest of the World
    • By Region (South America, Africa)
    • By components
    • By Deployment Model
    • By Organization Size
    • By End-Use Industry
    • By Application

Reasons to Buy This Report:

  • Market size estimation of the global speech analytics market on a regional and global basis
  • The unique research design for market size estimation and forecast
  • Profiling of major companies operating in the market with key developments
  • Broad scope to cover all the possible segments helping every stakeholder in the market

Customization:

We provide customization of the study to meet specific requirements:

  • By Segment
  • By Sub-segment
  • By Region/Country

For more information, contact: [email protected]

 

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