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Market Snapshot

CAGR:7.03

2023

2032

Source: Market Expertz

Study Period	2019-2032
Base Year	2023
Forcast Year	2023-2032
CAGR	7.03

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Report Overview

The Speech Analytics Market is on a growth trajectory, with a projected Compound Annual Growth Rate (CAGR) of 21.45% between 2022 and 2032. The market size is expected to increase substantially by USD 6.92 billion during this period. Speech analytics technology enables organizations to analyze spoken language in audio recordings or real-time conversations, extracting valuable insights and enhancing customer service, compliance, and operational efficiency.

Speech Analytics Market Overview:

Drivers:

The growing demand for actionable insights from customer interactions is driving the expansion of the Speech Analytics market. Organizations across sectors are increasingly using speech analytics to gain a deeper understanding of customer sentiments, preferences, and pain points, ultimately improving customer experiences.

Moreover, the need for compliance and risk management solutions in industries such as finance and healthcare is fueling the adoption of speech analytics, contributing to market growth.

Trends:

A significant trend in the market is the integration of speech analytics with Artificial Intelligence (AI) and Natural Language Processing (NLP). This integration enhances the accuracy and context-awareness of speech analytics systems, enabling more nuanced insights from customer conversations.

Furthermore, the market is witnessing the development of industry-specific speech analytics solutions. These solutions cater to specialized needs in sectors such as healthcare, finance, and retail, addressing unique compliance and customer experience requirements.

Restraints:

Challenges such as data privacy concerns and regulatory compliance issues pose obstacles in the market. Analyzing voice recordings may involve sensitive information, raising privacy and compliance concerns, especially in regions with stringent data protection regulations.

Additionally, achieving high accuracy in speech recognition and sentiment analysis across different languages and accents remains a challenge, impacting the effectiveness of speech analytics solutions.

Speech Analytics Market Segmentation by Deployment Mode: The Cloud-based segment is expected to dominate the market. Cloud-based speech analytics solutions offer scalability, flexibility, and faster deployment, making them popular among organizations of all sizes.

Speech Analytics Market Segmentation by Application: The Customer Experience Management segment is anticipated to witness substantial growth during the forecast period. Speech analytics empowers organizations to enhance customer interactions, identify service gaps, and drive customer loyalty.

Regional Overview:

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North America is projected to significantly contribute to the global Speech Analytics market, accounting for 39% of the market share during the forecast period. The region's strong presence of contact centers, financial institutions, and healthcare providers drives market innovation and adoption.

Furthermore, North America's focus on improving customer experiences and complying with industry regulations aligns with the growing trend of leveraging speech analytics to gain insights from customer conversations.

In 2020, the Speech Analytics market experienced accelerated growth as the COVID-19 pandemic highlighted the importance of remote customer interactions and the need for actionable insights from these interactions.

Speech Analytics Market Customer Landscape: The market report assesses the adoption patterns of speech analytics solutions, categorizing customers based on their industry verticals and use cases. It analyzes factors influencing the adoption of speech analytics, including industry-specific requirements and compliance needs.

Major Speech Analytics Market Companies: Key players in the Speech Analytics market are focusing on improving accuracy, language support, and integration capabilities to maintain their market presence.

Some major players include:

Verint Systems Inc. (Verint Speech Analytics)
NICE Ltd. (NICE Interaction Analytics)
Genesys Telecommunications Laboratories, Inc. (Genesys Speech Analytics)
CallMiner, Inc. (CallMiner Eureka)
Clarabridge, Inc. (Clarabridge Speech Analytics)

The research report provides a comprehensive competitive landscape analysis of 20 market companies, evaluating their strengths, weaknesses, and strategic approaches. The analysis categorizes companies based on their market focus and dominance.

Segment Overview:

The Speech Analytics market report forecasts revenue growth globally, regionally, and at the country level. It analyzes trends and growth opportunities from 2019 to 2032.

Deployment Mode Outlook (USD Billion, 2019 - 2032)

On-premises
Cloud-based

Application Outlook (USD Billion, 2019 - 2032)

Customer Experience Management
Contact Center Optimization
Sales and Marketing Management
Risk and Compliance Management
Others

Region Outlook (USD Billion, 2019 - 2032)

North America

U.S.
Canada

Europe

U.K.
Germany
France
Rest of Europe

APAC

China
Japan
India
Australia

South America

Brazil
Argentina
Rest of South America

Middle East & Africa

UAE
South Africa
Rest of Middle East & Africa

TABLE OF CONTENTS: GLOBAL Speech Analytics MARKET

Chapter 1. MARKET SYNOPSIS

1.1. Market Definition

1.2. Research Scope & Premise

1.3. Methodology

1.4. Market Estimation Technique

Chapter 2. EXECUTIVE SUMMARY

2.1. Summary Snapshot, 2016 – 2027

Chapter 3. INDICATIVE METRICS

3.1. Macro Indicators

Chapter 4. Speech Analytics MARKET SEGMENTATION & IMPACT ANALYSIS

4.1. Speech Analytics Segmentation Analysis

4.2. Industrial Outlook

4.3. Price Trend Analysis

4.4. Regulatory Framework

4.5. Porter’s Five Forces Analysis

4.5.1. Speech Analytics Of Suppliers

4.5.2. Speech Analytics Of Buyers

4.5.3. Threat Of Substitutes

4.5.4. Threat Of New Entrants

4.5.5. Competitive Rivalry

Chapter 5. Speech Analytics MARKET BY type landscape

SIGHTS & TRENDS

5.1. Segment 1 Dynamics & Market Share, 2019 & 2027

5.2 Type 1

5.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

5.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

5.3 Type 2

5.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

5.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

5.4 Type 3

5.4.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

5.4.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

Chapter 6. Speech Analytics MARKET BY End user INSIGHTS & TRENDS

6.1. Segment 2 Dynamics & Market Share, 2019 & 2027

6.2 End user 1

6.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

6.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

6.3 End user 2

6.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

6.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

6.4 End user 3

6.4.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

6.4.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

Chapter 7. Speech Analytics MARKET REGIONAL OUTLOOK

7.1. Speech Analytics Market Share By Region, 2019 & 2027

7.2. NORTH AMERICA

7.2.1. North America Speech Analytics Market Estimates And Forecast, 2016 – 2027 (USD Million)

7.2.2. North America Speech Analytics Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.2.3. North America Speech Analytics Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.2.4. North America Speech Analytics Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.5. U.S.

7.2.5.1. U.S. Speech Analytics Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.2.5.2. U.S. Speech Analytics Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.2.5.3. U.S. Speech Analytics Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.2.5.4. U.S. Speech Analytics Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.6. CANADA

7.2.6.1. Canada Speech Analytics Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.2.6.2. Canada Speech Analytics Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.2.6.3. Canada Speech Analytics Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.2.6.4. Canada Speech Analytics Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3. EUROPE

7.3.1. Europe Speech Analytics Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.2. Europe Speech Analytics Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.3. Europe Speech Analytics Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.4. Europe Speech Analytics Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.5. GERMANY

7.3.5.1. Germany Speech Analytics Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.5.2. Germany Speech Analytics Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.5.3. Germany Speech Analytics Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.5.4. Germany Speech Analytics Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.6. FRANCE

7.3.6.1. France Speech Analytics Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.6.2. France Speech Analytics Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.6.3. France Speech Analytics Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.6.4. France Speech Analytics Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.7. U.K.

7.3.7.1. U.K. Speech Analytics Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.7.2. U.K. Speech Analytics Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.7.3. U.K. Speech Analytics Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.7.4. U.K. Speech Analytics Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4. ASIA-PACIFIC

7.4.1. Asia Pacific Speech Analytics Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.2. Asia Pacific Speech Analytics Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.3. Asia Pacific Speech Analytics Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.4. Asia Pacific Speech Analytics Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.5. CHINA

7.4.5.1. China Speech Analytics Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.5.2. China Speech Analytics Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.5.3. China Speech Analytics Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.5.4. China Speech Analytics Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.6. INDIA

7.4.6.1. India Speech Analytics Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.6.2. India Speech Analytics Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.6.3. India Speech Analytics Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.6.4. India Speech Analytics Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.7. JAPAN

7.4.7.1. Japan Speech Analytics Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.7.2. Japan Speech Analytics Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.7.3. Japan Speech Analytics Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.7.4. Japan Speech Analytics Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.8. AUSTRALIA

7.4.8.1. Australia Speech Analytics Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.8.2. Australia Speech Analytics Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.8.3. Australia Speech Analytics Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.8.4. Australia Speech Analytics Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.5. MIDDLE EAST AND AFRICA (MEA)

7.5.1. Mea Speech Analytics Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.5.2. Mea Speech Analytics Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.5.3. Mea Speech Analytics Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.5.4. Mea Speech Analytics Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.6. LATIN AMERICA

7.6.1. Latin America Speech Analytics Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.6.2. Latin America Speech Analytics Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.6.3. Latin America Speech Analytics Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.6.4. Latin America Speech Analytics Market Estimates And Forecast By Production Process, 2016 –2027, (USD Million)

7.6.5. Latin America Speech Analytics Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

Chapter 8. COMPETITIVE LANDSCAPE

8.1. Market Share By Manufacturers

8.2. Strategic Benchmarking

8.2.1. New Product Launches

8.2.2. Investment & Expansion

8.2.3. Acquisitions

8.2.4. Partnerships, Agreement, Mergers, Joint-Ventures

8.3. Vendor Landscape

8.3.1. North American Suppliers

8.3.2. European Suppliers

8.3.3. Asia-Pacific Suppliers

8.3.4. Rest Of The World Suppliers

Chapter 9. COMPANY PROFILES

9.1 NICE Ltd

9.1.1. Company Overview

9.1.2. Financial Performance

9.1.3. Product Insights

9.1.4. Strategic Initiatives

9.2 Verint Systems

9.2.1. Company Overview

9.2.2. Financial Performance

9.2.3. Product Insights

9.2.4. Strategic Initiatives

9.3 CallMiner

9.3.1. Company Overview

9.3.2. Financial Performance

9.3.3. Product Insights

9.3.4. Strategic Initiatives

9.4 Genesys Telecommunications

9.4.1. Company Overview

9.4.2. Financial Performance

9.4.3. Product Insights

9.4.4. Strategic Initiatives

9.5 laboratories

9.5.1. Company Overview

9.5.2. Financial Performance

9.5.3. Product Insights

9.5.4. Strategic Initiatives

9.6 Avaya Holdings Corporation

9.6.1. Company Overview

9.6.2. Financial Performance

9.6.3. Product Insights

9.6.4. Strategic Initiatives

9.7 Aspect Software

9.7.1. Company Overview

9.7.2. Financial Performance

9.7.3. Product Insights

9.7.4. Strategic Initiatives

9.8 Zoom International

9.8.1. Company Overview

9.8.2. Financial Performance

9.8.3. Product Insights

9.8.4. Strategic Initiatives

9.9 Castel Communications

9.9.1. Company Overview

9.9.2. Financial Performance

9.9.3. Product Insights

9.9.4. Strategic Initiatives

9.10 Clarabridge

9.10.1. Company Overview

9.10.2. Financial Performance

9.10.3. Product Insights

9.10.4. Strategic Initiatives

RESEARCH METHODOLOGY

A research methodology is a systematic approach for assessing or conducting a market study. Researchers tend to draw on a variety of both qualitative and quantitative study methods, inclusive of investigations, survey, secondary data and market observation.

Such plans can focus on classifying the products offered by leading market players or simply use statistical models to interpret observations or test hypotheses. While some methods aim for a detailed description of the factors behind an observation, others present the context of the current market scenario.

Now let’s take a closer look at the research methods here.

Secondary Research Model

Extensive data is obtained and cumulated on a substantial basis during the inception phase of the research process. The data accumulated is consistently filtered through validation from the in-house database, paid sources as well reputable industry magazines. A robust research study requires an understanding of the overall value chain. Annual reports and financials of industry players are studied thoroughly to have a comprehensive idea of the market taxonomy.

Primary Insights

Post conglomeration of the data obtained through secondary research; a validation process is initiated to verify the numbers or figures. This process is usually performed by having a detailed discussion with the industry experts.

However, we do not restrict our primary interviews only to the industry leaders. Our team covers the entire value chain while verifying the data. A significant number of raw material suppliers, local manufacturers, distributors, and stakeholders are interviewed to make our findings authentic. The current trends which include the drivers, restraints, and opportunities are also derived through the primary research process.

Market Estimation

The market estimation is conducted by analyzing the data collected through both secondary and primary research. This process involves market breakdown, bottom-up and top- down approach.

Moreover, while forecasting the market a comprehensive statistical time series model is designed for each market. Macroeconomic indicators are considered to understand the current trends of the market. Each data point is verified by the process of data triangulation method to arrive at the final market estimates.

Final Presentation

The penultimate process results in a holistic research report. The study equips key industry players to undertake significant strategic decisions through the findings. The report encompasses detailed market information. Graphical representations of the current market trends are also made available in order to make the study highly comprehensible for the reader.

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Speech Analytics Market Size, Type Analysis, Application Analysis, End-Use, Industry Analysis, Regional Outlook, Competitive Strategies And Forecasts, 2023-2032