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 report provides the current state of the Speech Analytics market by thorough analysis, and projections are made up to 2030.
Projected Growth Trajectory for Speech Analytics Market:
Speech Analytics Market was valued at US$ 2.30 Bn in 2022 and is expected to reached at US$ 8.84 Bn in 2029. Speech Analytics Market size is expected to grow at a CAGR of 21.2% through the forecast period.
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Speech Analytics Market Scope and Methodology:
The approach that gives investors relevant information by combining descriptive analysis and SWOT analysis is covered in the study. Giving a complete picture of the Speech Analytics market is the study's main objective. The process of gathering data involves a variety of methods, such as questionnaires and surveys. After then, mathematical, statistical, and numerical techniques are used to evaluate the data. Gathering and categorizing data is crucial since a combination of qualitative and quantitative research methodologies are needed to identify Speech Analytics market trends.
The buyer-direct scenario, RD projects, innovative forms of development, cutting-edge industry practices, and market consolidations and acquisitions are all carefully examined in order to evaluate the potential futures of the market. Included in the research are charts, organizational portfolios, methods, and a critical evaluation of well-known corporate leaders. A thorough SWOT and PESTLE analysis was conducted on the Speech Analytics Market in order to pinpoint market trends and provide microeconomic factors.
Speech Analytics Market Regional Insights:
The Regional Analysis section displays the present state of the Speech Analytics market in each of the study's participating nations. Due to the complexity of the Speech Analytics business, local perspectives must be considered. North America, Europe, Asia-Pacific, Latin America, the Middle East, and Africa are the regions that comprise the Speech Analytics market. We extensively examine each research region's market size, growth rate, imports and exports, as well as other particular characteristics.
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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
The solutions segment is predicted to grow with the biggest market share in 2022 based on component. Over the course of the projection period, the customer experience management application category is anticipated to have a greater market share. It enables businesses to leverage current customer data to spot patterns and trends, create retention plans, and lower customer attrition. The requirement to examine customer call recordings in order to determine customer intent and conduct behavior analysis is responsible for various factors, including the indexing and query tools segment's large market share.
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
The Customer Experience Management segment is anticipated to have the highest compound annual growth rate (CAGR) over the projected period, based on applications. Contact centers now connect and communicate much more effectively thanks to these apps, which has improved business performance. Speech analytics solutions have the power to completely change a business by giving them several techniques to guarantee that every client interaction is secure and of consistently high quality. The speech engine provides inputs by identifying and comprehending conversations.
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
Over the course of the forecast period, the retail and e-commerce sector vertical is anticipated to grow at the greatest CAGR . With speech analytics becoming more and more important in improving customer happiness, retention rates, and churn rates, the BFSI vertical is expected to hold a greater market share during the projection period. The majority of businesses use speech analytics tools to interpret the conversational data they collect and use that data to improve operational efficiency. The retail and e-commerce segments of the speech analytics market are expanding as a result of the growing use of speech analytics tools in the business process outsourcing (BPO) sector.
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Table of Content: Speech Analytics Market
Part 01: Executive Summary
Part 02: Scope of the Speech Analytics Market Report
Part 03: Global Speech Analytics Market Landscape
Part 04: Global Speech Analytics Market Sizing
Part 05: Global Speech Analytics Market Segmentation by Type
Part 06: Five Forces Analysis
Part 07: Customer Landscape
Part 08: Geographic Landscape
Part 09: Decision Framework
Part 10: Drivers and Challenges
Part 11: Market Trends
Part 12: Vendor Landscape
Part 13: Vendor Analysis
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
For deeper market insights, peruse the summary of the research report:https://www.maximizemarketresearch.com/market-report/speech-analytics-market/12971/
Key questions answered in the Speech Analytics Market are:
- What growth strategies are the players considering to increase their presence in Speech Analytics?
- What are the upcoming industry applications 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?
- Which application holds the highest potential in the Speech Analytics market?
- What are the key challenges and opportunities in the Speech Analytics market?
- What is Speech Analytics?
- What was the Speech Analytics market size in 2023?
- What will be the CAGR at which the Speech Analytics market will grow?
- What is the growth rate of the Speech Analytics Market?
- Which are the factors expected to drive the Speech Analytics market growth?
- What are the different segments of the Speech Analytics Market?
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Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2023)
- Past Pricing and price curve by region (2018 to 2023)
- 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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