Speech Analytics Market Overview
Maximize Market Research is a Business Consultancy Firm that has published a detailed analysis of the “Speech Analytics Market”. The report includes key business insights, demand analysis, pricing analysis, and competitive landscape. The analysis in the report provides an in-depth aspect at the current status of the Speech Analytics market, with forecasts outspreading to the year 2030.
Speech Analytics Market Scope and Methodology:
The research includes both qualitative and quantitative methods using SWOT, PESTLE and Porter’s Five Forces analysis tools. Its in-depth study of market growth drivers, restraints, and other important factors influencing the Market. Investors, stakeholders and market observers use this report as a valuable guide.
Market covering global, regional, national and local aspects. Through primary and secondary data sources, it provides forecasts of market size, growth rate and identifies current and future trends. Top players are highlighted by regions including their revenue, financial status, portfolio and technological advancements.
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Speech Analytics Market Regional Insights
Geographically, the report is divided into several important countries. Food Market Size, Growth Rate, Import and Export of Market. In these Countries Covering North America, USA, Canada, Mexico, Europe, UK, Germany, France, Spain, Italy, Rest of Europe, Asia Pacific, China, India , Japan , Australia, South Korea, ASEAN countries, Rest of APAC, South America, Brazil and Middle East and Africa.
Speech Analytics Market Segmentation
by Component
1. Solutions
1.1 Speech Engine
1.2 Indexing and Query Tools
1.3 Reporting and Visualization Tools
1.4 Quality Management
1.5 Root Cause Analysis
1.6 Other Solutions (Emotion Detection and Workforce Optimization)
2. Services
2.1 Professional Services
2.1.1 Training and Consulting
2.1.2 System integration and implementation
2.1.3 Support and Maintenance
2.2 Managed Services
Based on Component, the solutions segment is estimated to grow with the largest market share in 2022. The customer experience management application segment is expected to hold a larger market share during the forecast period. It allows organizations to use real-time customer data to identify patterns and trends and devise retention strategies and reduce customer churn. The factors such as the high market share of the indexing and query tools segment is attributed to the need to analyze the recorded calls of customers in order to recognize customer intent and perform behavior analysis. Speech analytics solutions comprise speech engines; indexing and query tools; reporting and visualization tools; workforce optimization; and others (emotion detection, root cause analysis, and quality management tools). These solutions help businesses maintain audit and compliance needs, and obtain the right insights on the right people at the right time. These all factors lead to the growth of the Speech Analytics Market during the forecast period in this segment.
by Application
1. Customer Experience Management
2. Call monitoring and summarization
3. Agent performance monitoring
4. Sales and marketing management
5. Risk and compliance management
6. Sentiment analysis
7. Other Applications
Based on Applications, The Customer Experience Management segment is expected to record the higher CAGR during the forecast period. These applications have made a huge difference to the way that contact centers connect and communicate, thus improving the performance of enterprises. Speech analytics solutions can transform an organization by providing many ways of ensuring that they are delivering a consistent quality of service and a secure experience at every customer touchpoint. The speech engine helps recognize and understand conversations, based on which it derives outputs.
by Deployment Mode
1. Cloud
2. On-premises
by Organization Size
1. Large enterprises
2. Small and medium-sized enterprises (SMEs)
by End-User
1. Banking Finance Services and Insurance (BFSI)
2. IT and Telecom
3. Media and Entertainment
4. Healthcare and Life Sciences
5. Retail and eCommerce
6. Travel and Hospitality
7. Government and Defense
8. Healthcare and life sciences
9. Other Verticals
Based on End-Users, the retail and e-commerce industry vertical are expected to grow at the highest CAGR of xx% during the forecast period. The BFSI vertical is likely to hold a larger market share during the forecast period, as the importance of speech analytics is growing to enhance customer satisfaction, increase the retention rate, and reduce the customer churn rate. Most of enterprises leverage the speech analytics solutions to understand the conversational data generated and leverage the same to achieve operational efficiencies. Due to the rising adoption of speech analytics tools across the Business Process Outsourcing industry (BPO)., leads to the growth of the retail and e-commerce segment in Speech Analytics Market. Further, the introduction of advanced technological tools to enhance customer experiences is anticipated to propel the speech analytics demand.
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Speech Analytics Market Key Players
1. Verint Systems
2. Avaya
3. Calabrio
4. CallMiner
5. Clarabridge
6. Almawave
7. Voci Technologies
8. Zoom International
9. NICE Systems
10. Genesys
11. HPE
12. Tatwa Technologies
13. Uniphore Software Systems
14. Micro Focus
15. Avaya
16. Google
17. AWS
18. Vonage
19. OpenText
20. Calabrio
21. Eleveo
22. Almawave
Key questions answered in the Speech Analytics Market are:
- What is Speech Analytics ?
- What was the Speech Analytics market size in 2023?
- What is the growth rate of the Speech Analytics Market?
- Which are the factors expected to drive the Speech Analytics market growth?
- What is the CAGR at which the Speech Analytics market will grow during the forecast period?
- What are the different segments of the Speech Analytics Market?
- Which is the fastest-growing region in the Speech Analytics market?
- What growth strategies are the players considering to increase their presence in Speech Analytics ?
- What are the upcoming opportunities and trends for the Speech Analytics Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Speech Analytics Market?
- Who are the leading companies and what are their portfolios in Speech Analytics Market?
- What segments are covered in the Speech Analytics Market?
- Who are the key players in the Speech Analytics market?
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Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2022)
- Past Pricing and price curve by region (2018 to 2022)
- Market Size, Share, Size & Forecast by Different Segment | 2024−2030
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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