Global Speech Analytics Market, by Type, by Deployment Type, by End-User, by Organization Size - Forecast 2022

A new market study, titled “Global Speech Analytics Market Size, Status and Forecast 2020-2022” has been featured on Market Research Future.

Global Speech Analytics Market Research Report offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.

Market Scenario:

Speech analytics is the process of examining the recorded calls for gathering customer information with an objective of improving communication and future interaction. The process is used by contact centers to extract information from interaction of clients with the organization. The technology can identify cost drivers, strengths and weaknesses with processes and products, trend analysis and help to understand how marketplace recognizes the offerings.

The major factors contributing to growth of speech analytics market are the increasing need for customer relationship management, rise in level of competitiveness amongst the existing players, new product development, and rigorous management. Risk management along with rising requirements for compliance is also attributing to the growth rate. The demand for this market increases with experience and knowledge of third party resources for implementation of such solutions. A major driving force for the speech analytics market is the growing customer interaction by various channels such as voice, social channels, and surveys. The major restraining factor of this sector is the associated high costs especially the cost of software licensing.

The global speech analytics market is expected to reach US $ ~1.75 Billion by 2022, at an estimated CAGR of ~23% during forecast period 2016-2022.

Regional Analysis

The regional analysis of speech analytics market is being studied for areas such as Asia pacific, North America, Europe and rest of the world. North America would be the largest growing market in terms of revenue generation because of large number of analytics vendors present in the region. Asia pacific region has a huge potential of growth owing to increasing use of technology and huge investments in contact centers.

Segments:

The Global Speech Analytics Market has been segmented on the basis of type, deployment and organization size. Types include – Solutions such as analysis and query tools, dash boards and reporting tool, indexing and speech engine and Services among others. The deployment includes- cloud and on-premise. The organization size includes- large enterprises and small & medium enterprises. The technology is used in several end-users sectors such as BFSI, entertainment, government, retail, IT& Telecom and healthcare among others.

Key Players

The prominent players in the Speech Analytics market are- Verint Systems, Inc. (U.S.), Genesys Telecommunication Laboratories, Inc. (U.S.), Callminer, Inc. (U.S.), NICE Systems Ltd.( Israel), Avaya, Inc.(U.S.), HP Enterprise (U.S.), Calabrio, Inc.(US), Calabridge, Inc.(U.S.), Aspect Software Inc.(U.S.), and Castel communications LLC (U.S.) among others.

More Information :https://www.marketresearchfuture.com/reports/speech-analytics-market-2057

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