Press release
Speech Analytics Market Future Growth Outlook 2021-2026 | Verint System Inc., Nice Ltd., Avaya Inc., Micro Focus International PLC, Genesys Telecommunications Laboratories Inc.
The Speech Analytics Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.The speech analytics market was valued at USD 1.34 billion in 2019 and is expected to reach a value of USD 4.38 billion by 2025 at a CAGR of 21.6%, over the forecast period (2020 - 2025).Â
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Top Leading Companies of Speech Analytics Market are Verint System Inc., Nice Ltd., Avaya Inc., Micro Focus International PLC, Genesys Telecommunications Laboratories Inc., Callminer Inc., Mattersight Corporation, Raytheon BBN Technologies, Calabrio Inc., VoiceBase Inc., OpenText Corp and others.
Key Market Trends:
Telecommunications Sector is Expected to Occupy Significant Market Share
- Speech Analytics has become increasingly popular in the telecom industry due to the huge amount of data being generated through the advent of the connected world concept. Initially the recorded calls were evaluated manually, but the rise of call volume is demanding the need for adequate and accurate evaluation, thereby leading to the adoption of speech analytics.
- Telecom service provider organizations are major end-users of speech analytics solutions worldwide. Various benefits such as increased margins, fraud reduction, risk minimization, service improvement, and customer satisfaction are leading to the acquisition of more customers and retention of customers, which are aiding the growth of the market in the industry.
Europe is Expected to Witness Significant Growth Rate
-Growing number of contact centers, increased voice importance in the multi-channel world, and rising demand for cloud analytics are some of the primary factors impacting the growth of Speech Analytics market.
-There are around 6000 contact centers in the UK, with new centers being established, with each passing year. Contact companies are increasingly using speech analytics to improve the customer service experience.
Competitive Landscape:
- February 2019 - Micro Focus announced the acquisition of Interset, a worldwide leader in security analytics software that provides highly intelligent and accurate cyber-threat protection. The addition of this predictive analytics technology adds depth to Micro Focus' Security, Risk and Government Portfolio and aligns with the company's strategy to help customers quickly and accurately validate and assess risk as they digitally transform businesses.
Investigator Observers Strong Growth in Specific Regions:
– Europe Market (Germany, UK, France, Russia, Italy)
– Center East and Africa Market (Saudi Arabia, UAE, Egypt, Nigeria, South Africa)
– South America Market (Brazil, Argentina, Colombia)
– North America Market (United States, Canada, Mexico)
– Asia Pacific Market (China, Japan, Korea, India, Southeast Asia).
The Latest Industry Data Included in this Report:
- Speech Analytics Market Size & Analysis (2016 - 2026)
- Market Share Analysis of Speech Analytics Market (%),2016 - 2026
- Speech Analytics Market Share, By Brand
- Speech Analytics Market Share, By Company
- Speech Analytics Market Assessment & Opportunity (Value),2016 - 2026
- Major Companies Speech Analytics Market Value Analysis & Forecast
- Promising Speech Analytics Development by Major Companies
- Detailed Speech Analytics Portfolio of the Major Companies
- Major Deals in the Speech Analytics Market
- Major Companies Analysis
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Customization of the Report: This report can be customized as per your needs for additional data up to 3 companies or countries or 40 analyst hours.
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MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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