The global audio communication monitoring market is estimated at US$ 1.8 Bn in 2022, and is expected surge at a CAGR of 16.2% to close in on a valuation of US$ 4.5 Bn by 2028. Audio communication monitoring accounts for around 10% share of the global voice communication market. Demand for call recording solutions is likely to increase at a CAGR of 15% over the assessment period of 2022 to 2028.
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Audio communication monitoring solutions generally revolve around the call recording feature. The recording, processing and then analyzing are the parts of the audio communication monitoring market.
Audio Communication Monitoring Market: Segmental Insights
To understand and assess the demand and opportunities in this market, the report is categorically split into five major sections, namely, market analysis – by component, by industry, by enterprise type, by application and by region.
On the basis of component, the market is segmented into solutions and services. The solutions segment is further divided into quality analysis, audio loudness, metering and monitoring call recording, and others. Services segment is further segmented into maintenance and support services, and professional services. The call recording solution segment is expected to dominate the market throughout the forecast period, and is expected to have a market share of 62.0% and 63.2% in 2022 and 2028, respectively.
On the basis of industry, the market is segmented into banking, financial services, and insurance; government; telecommunication & IT; media & entertainment; healthcare, and others.
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Telecommunication & IT segment is expected to dominate the market in the majority duration of the forecast period. The government segment is expected to come close to telecommunication & IT segment in the latter half of the forecast period in terms of market share, owing to the high CAGR associated with it. The government segment is expected to grow from US$ 352.4 Mn in 2022 to US$ 1,577.4 in 2028.
On the basis of enterprise type, the market is segmented into small & medium enterprises, and large enterprises. The small and medium enterprises segment is expected to dominate the market in the major part of the forecast period, and enjoy a market share of 50.4% and 51.2% in 2022 and 2028, respectively.
On the basis of application, the market is segmented into law enforcement agencies, enterprise employee monitoring, broadcast monitoring, sales and internal communication monitoring, and others. The enterprise employee monitoring application segment is expected to dominate the market in the forecast period, and is expected to have a market share of 37.6% and 37.9% in 2022 and 2028, respectively.
The section – market analysis by region, includes an in-depth country level analysis of all global regions, namely, North America, Latin America, Western Europe, Eastern Europe, SEA and Others in Asia Pacific, Japan, China, and MEA, by component, by industry, by industry, by enterprise type, by application and by country; and provides market data in terms of value for 2022-2028. In 2021, the market in North America dominated the overall global audio communication monitoring market (given Asia Pacific is considered separately as three regions, i.e. China, Japan, and SEA and Others of APAC), while the fastest growing region in the market is Latin America. North America is further expected to hold a majority of the market share in 2028 as well.
Audio Communication Monitoring Market: Vendor Insights
The key players reported in this study on the global audio communication monitoring market are Cisco Systems, Inc., International Business Machines (IBM) Corporation., NICE Systems Ltd., Nexidia Inc., Nuance Communication, Inc., Tata Communications Ltd., Intelligent Voice, Nectar Services Corporation, Fonetic, and Ameyo.
In 2015, Intelligent Voice partnered with Castel to deliver speech analytic capabilities to contact centers by using Intelligent Voice’s GPU-powered software that takes over 240000 monitored calls each day on premise.
In 2022, Nectar Services partnered with Plantronics to build an Ear-to-Ear (e2e) solution that allows enterprises and carriers to track call quality across core networks, the internet/intranet and to agents answering phones.
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Key Questions Answered in the Report
- How big is the audio communication monitoring market?
- What is the audio communication monitoring market growth projected to be?
- What are the top industries in the audio communication monitoring market?
- Which region is predicted to hold the highest share in the audio communication monitoring market?
- What are various challenges in the auto communication monitoring market?
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