Speech Analytics Market grow with a CAGR of 20.4% | Top Key Players SWOT Analysis PESTLE Analysis | Calabrio, CallMiner, Clarabridge

Report Ocean releases its latest report on the global Speech Analytics Market. A combination of information gathered from first-hand sources, qualitative and quantitative assessments of industry analysts, and insights from experts and participants across the value chain is used to calculate the global Speech, Analytics Market.

The global speech analytics market was valued at US$ 1.6 billion in 2020 and is forecast to reach US$ 9 billion by 2030. The market is expected to grow at a compound annual growth rate (CAGR) of more than 20.4% during the forecast period from 2021-2030.

To Remain ‘In front of’ Your Competitors, Request for Sample Report Here (Use Corporate email ID to Get Higher Priority): (up to 20% OFF) https://reportocean.com/industry-verticals/sample-request?report_id=Pol169&utm_medium=G.Saini&utm_campaign=Open%20pr&utm_content=RO

Factors Influencing 

The global speech analytics market is forecast to grow due to the beneficial applications of speech analytics systems in several business sectors. Businesses use speech analytics to improve customer experience and recognize their needs.  Speech analytics is also helpful in assessing customer aims by examining the tone, pauses, and volume of speech. 

According to an Oracle study, 9 out of 10 customers change their preferences because of a poor experience. Thus, speech analytics help them figure out the method to amendments by understanding the root of the issue. Such advantages are forecast to boost the growth of the global speech analytics market during the forecast period. 

Lack of advancements anticipates slowing down the growth of the global speech analytics market. Contact centers utilize a variety of prominent technology systems such as agent desktop, CRM, Interactive Voice Response (IVR), and social media monitoring tools. The disconnected systems and the necessity to log in to multiple speech analytics applications would cause delays. Thus, it would slow down the demand for speech analytics solutions. 

Apart from that, the growing demand for understanding consumer behaviors would boost the growth of the global speech analytics market during the forecast period. Speech analytics replaces the traditional methods of relying on phrases, keywords, and phonetics. It maintains better accuracy by acquiring insights from calls. Thus, it would boost the adoption of speech analytics, especially in the  BPO industry. 

The reports include an in-depth analysis of macroeconomic indicators, market trends, and underlying factors, as well as market attractiveness by segment. The reports include a qualitative impact map of different market factors. COVID-19 (Corona Virus) had an impact on the product industry chain based on upstream and downstream markets, on regions and countries, and the future development of the industry.

The reports on the Global Speech Analytics Market provide readers with a better understanding of the market and competitive landscape to support better decision-making. Report contents include an overview of participants, revenue results, sales volume, gross margin, capital investment, and global Speech Analytics Market growth rates.

Researchers gather and validate the market size and demand information with market experts. They also examine the geographical distribution of the Speech Analytics Market. Top manufacturers, distributors, traders, and dealers use these market studies to gain insights into the industry. It will provide an overview of the product, the market, the driving forces, the risks and opportunities, and the research findings.

Impact Analysis of COVID-19

A detailed study of Covid-19 impacts the Speech Analytics Market is provided in the report.

The World Health Organization has declared Covid-19 a global health emergency due to its impact on thousands of people worldwide. The Coronavirus disease, which already affects these groups, had affected Speech Analytics Market segments.

While the death toll continues to climb, the economic damage is already evident, making this the world's worst economic shock in decades.

Chaos can lead to several undesirable outcomes, including restaurant closings, flight cancellations, travel restrictions, indoor event venues losing permits, customer confidence eroding, stock markets fluctuating, and citizens becoming anxious.

The report extensively examines the fundamental aspects of the Global Speech Analytics Market, including its future prospects and competitive landscape. The Porter's Five Forces analysis of the Speech Analytics Market provides insight into the factors influencing its growth. This market study breaks down the Speech Analytics Market into segments, regions, and players in order to present an accurate picture of the current market environment. The study also includes macroeconomic and microeconomic analyses. Several graphs and charts appear in the report effectively.

Regional Overview

An analysis of the Speech Analytics Market at the country level looks at segments classified as potentially high-growth, countries with the largest market share, and countries with the best growth prospects. Among the regional breakdowns in the Speech Analytics Market study are North America (USA, Canada), South America, Asia Pacific (China, Japan, India, Korea), Europe (Germany, UK, France, Italy), Other countries.

Leading Competitors

The leading prominent competitors in the global Speech Analytics Market are:

NICE (Asia)
Verint (Unites States)
Micro Focus (United Kingdom)
Avaya (Unites States)
Genesys (Unites States)
Google (Unites States)
AWS (Unites States)
Vonage (Unites States)
OpenText (Canada)
Calabrio (Unites States)
CallMiner (Unites States)
Clarabridge (Unites States)
Eleveo (Unites States)
Voci Technologies (Unites States)
Almawave (Italy), 
Marchex (Unites States)
Enghouse Interactive (Unites States)
Castel (Unites States)
Aspect (Unites States)
VoiceBase (Unites States)
Invoca (Unites States) 
Other prominent players

Scope of the Report

The global Speech Analytics Market segmentation focuses on:

By Component
Solutions
Speech Engine
Indexing and Query Tools
Reporting and Visualization Tools
Workforce Optimization
Others (Emotion Detection, Root Cause Analysis, and Quality Management)
Services
Professional Services
Consulting
System Integration and Implementation
Support and Maintenance
Managed Services

By Application
Customer Experience Management
Call Monitoring
Agent Performance Monitoring
Sales and Marketing Management
Competitive Intelligence
Risk and Compliance Management
Others (Business Process Management and Predictive Analysis)

By Deployment Mode
Cloud
On-premises
By Organization Size
SMEs
Large Enterprises

By Vertical
BFSI
Retail and eCommerce
IT and Telecom
Energy and Utilities
Travel and Hospitality
Government
Healthcare and Life Sciences
Media and Entertainment
Others (Education, Transportation and Logistics, and Manufacturing)

Purchase this Report now by availing a good Discount and free consultation: https://reportocean.com/industry-verticals/sample-request?report_id=Pol169&utm_medium=G.Saini&utm_campaign=Open%20pr&utm_content=RO

Get in Touch with Us:
Report Ocean:
Email: sales@reportocean.com
Address: 500 N Michigan Ave, Suite 600, Chicago, Illinois 60611 - UNITED STATES
Tel: +1 888 212 3539 (US - TOLL FREE)
Website: https://www.reportocean.com/

About Report Ocean:
We are the best market research reports provider in the industry. Report Ocean believes in providing quality reports to clients to meet the top line and bottom line goals which will boost your market share in today's competitive environment. Report Ocean is a 'one-stop solution' for individuals, organizations, and industries that are looking for innovative market research reports.

This release was published on openPR.