Market Highlights

As indicated by Market Research Future (MRFR), the global Voice Analytics Market size is projected to arrive at USD 1.75 billion at an expected CAGR of 23% from 2016 to 2022 (estimate period). The review on the global speech analytics market surveys COVID-19 on key elements deciding business development. The review examines industry rivalry and global market designs, offering a point by point outline of both development drivers and requirements that could essentially affect market viewpoint over the gauge time frame.

Voice Analytics Market is the most common way of investigating recorded requires the assortment of client data determined to upgrade correspondence and possible collaboration. The cycle is utilized by contact focuses to separate data from customers' associations with the association. Innovation can identify cost drivers, qualities, and constraints in cycles and items, examinations patterns, and assist with clarifying how the marketplace perceives the contributions.

Market Dynamics

The key elements prompting the development of the speech analytics market are the developing requirement for client relationship the executives, an expansion in the degree of rivalry of existing players, new item advancement, and thorough administration. Hazard the board, alongside expanding consistence prerequisites, additionally characteristics to the development rate. The interest for this area ascends with the skill and consciousness of outsider assets to execute such arrangements. The developing association of clients across different stages, like voice, social channels, and reviews, is an essential driver for the speech analytics market. The major obliging element in this area is the related significant expenses, particularly the expense of authorizing software.

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Segmentation:

The global market for speech analytics has been segmented on the basis of type, deployment, organization size, and end-user.

On the basis of types, the global speech analytics market has been segmented into solutions and services. Solutions are further divided into analysis and query tools, dashboards and reporting tools, indexing, and speech engines.

On the basis of deployment, the global speech analytics market has been segmented into the cloud and on-premise.

On the basis of organization size, the global speech analytics market has been segmented into large enterprises and small & medium enterprises.

On the basis of end-user, the global speech analytics market has been segmented into BFSI, entertainment, retail, IT& Telecom, government, and healthcare, among others.

Regional Analysis

Regionally, the global Voice Analytics Market has been segmented into North America, Europe, Asia Pacific, and the Rest of the world.

North America will be the largest growing market in terms of revenue generation due to a large number of analytics vendors in the region.

Europe is expected to see a substantial growth rate due to the rising number of contact centers, increased voice importance in the multi-channel world, and rising demand for cloud analytics.

The Asia Pacific region has an immense growth opportunity due to the growing use of technology and massive investments in contact centers.

Key Players

The industry giants in the global speech analytics market are Verint Systems, Inc. (U.S.), NICE Systems Ltd. (Israel), Genesys Telecommunication Laboratories, Inc. (U.S.), Calabrio, Inc. (US), Callminer, Inc. (U.S.), Avaya, Inc. (U.S.), Aspect Software Inc.(U.S.), HP Enterprise (U.S.), Calabridge, Inc. (U.S.), and Castel communications LLC (U.S.) among others.

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Global Voice Analytics Market, by Type (Services, Solutions), by Deployment Type (Cloud, On-premise), by End-User (BFSI, Government, Healthcare, Retail, IT), by Organization Size (Large Enterprises, Small & Medium Enterprises) - Forecast 2027

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