The Speech Analytics Market is expected to reach $14.1 billion by 2029, at a CAGR of 20.1% during the forecast period 2022–2029.
The growth of the global speech analytics market is driven by factors such as the surge in demand for speech analytics to improve contact center operations, the emergence of speech analytics to enhance fraud detection, and the rising demand for speech-based biometric systems during the COVID-19 pandemic. The increasing demand for speech analytics in the healthcare sector and the growing demand for cloud-based speech analytics solutions to bolster customer retention are expected to offer significant growth opportunities for the speech analytics market. Besides, limited use cases of real-time speech analytics pose a serious challenge to the growth of the speech analytics market.

Key Insights from the Speech Analytics Market Study
Dominance of Solutions Segment
In 2022, the solutions segment is poised to dominate the speech analytics market, driven by the rising adoption of speech analytics software across call centers and retail industries. The segment's growth is further propelled by the escalating demand for reporting tools, customer experience solutions, and compliance management tools.

Sales and Marketing Management Leading the Way
Within the realm of applications, sales and marketing management emerges as the dominant segment, fueled by the need for improved customer experience and effective sales strategies. The segment's growth is underpinned by the rising demand for call monitoring solutions, sentiment analysis, and the identification of cross-selling opportunities.

IT & Telecommunications Spearheading Market Growth
The IT & telecommunications sector is slated to lead the speech analytics market in 2022, driven by the increasing demand for actionable insights among telecom companies. Factors such as customer retention strategies, cross-selling initiatives, and data analytics contribute to the sector's dominance.

Asia-Pacific: A Hotbed of Growth
In 2022, the Asia-Pacific region is poised to witness the highest CAGR, fueled by escalating technology expenditures and the growing adoption of speech analytics solutions among SMEs. Countries like Australia, China, and India are at the forefront of this growth, driven by a surge in technology adoption and increased awareness of speech recognition technologies.

Key Players
The key players operating in the global speech analytics market are NICE Ltd. (Israel), Verint Systems Inc. (U.S.), CallMiner, Inc. (U.S.), Genesys Cloud Services, Inc. (U.S.), Avaya Holdings Corp. (U.S.), Audio Analytic Ltd. (U.K.), Calabrio, Inc. (U.S.), Batvoice Technologies (France), Qualtrics, LLC (U.S.), Dialpad, Inc. (U.S.), WinterLight Labs (Canada), The Plum Group, Inc. (U.S.), Aural Analytics, Inc (U.S.), Amazon.com, Inc. (U.S.), Uniphore Technologies Inc. (India), Intelligent Voice Ltd (U.K.), Kwantics (India), Gnani Innovations Private Limited (India), and SAS Institute Inc. (U.S.).

Download Free Research Sample @ https://www.meticulousresearch.com/download-sample-report/cp_id=5364

Key questions answered in the report-
• Which are the high-growth market segments in terms of the component, application, organization size, deployment mode, and end-use industries?
• What is the historical market for speech analytics market across the globe?
• What are the market forecasts and estimates for the period of 2022–2029?
• What are the major drivers, restraints, and opportunities in the global speech analytics market?
• Who are the major players in the global speech analytics market, and what share of the market do they hold?
• How is the competitive landscape?
• What are the recent developments in the global speech analytics market?
• What are the different strategies adopted by the major players in the market?
• What are the geographic trends and high-growth countries?
• Who are the local emerging players in the global speech analytics market, and how do they compete with the other players?

Contact Us:
Meticulous Research®
Email- [email protected]
Contact Sales- +1-646-781-8004
Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research