Speech Analytics Market is Anticipated to Increase at a Stable CAGR over the Forecast Period (2023 to 2029)

Speech analytics market is anticipated to grow significantly at a CAGR of 19.0 % during the forecast period. Speech analytics is the process of extracting useful information from recorded calls between consumers and businesses. It is used to assess trend analysis, cost drivers, and identify process and product strengths and weaknesses. One of the primary factors fueling the growth of the market is increased competition among industry players and the rising trend of big data analytics. Additionally, the market is expected to be driven by rising demand for risk management and compliance, as well as the growing importance of voice in the multichannel world.

The increasing need for customer intelligence services, as well as increased demand in the BPO sector or contact centers across the globe, are expected to propel the market growth during the forecast period. For instance, speech analytics, with its capacity to swiftly evaluate client intent and generate actionable information from calls, has proven to be a beneficial option, particularly for BPO organizations. Speech analytics is being used by marketing teams to anticipate which customers are likely to diverting from a product. They are then able to devise retention strategies and propose incentives to such customers, such as discount coupons or product upgrades. Furthermore, the requirement for interaction with existing systems and the inability to quantify Return on Investment (RoI) are two major factors that are restraining the growth of the global speech analytics market. 

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 Market Coverage

The market number available for - 2021-2029
Base year- 2021
Forecast period- 2021-2029

Segment Covered- 

By Deployment Type
By Organization Size
By Type
By End-User

Regions Covered-      

North America
Europe
Asia-Pacific
Rest of the World
Competitive Landscape- Calabrio Inc., Calabridge Inc., Avaya Inc., AlmavivA S.p. A., IBM Corp.,  Microsoft Corp., NICE Ltd., ThoughtSpot Inc., among others.

Global Speech Analytics Market Report Segment

By Deployment Type

On-Premise Deployment
Cloud-Based Deployment
By Organization Size
Large Enterprise
Small and Medium-Sized Enterprises (SMEs)

By Solution

Speech Engine
Indexing, Analysis, and Query Tools
Dashboard and Reporting Tools

By End-User

BFSI
IT and Telecommunication
Government and Defense
Retail
Healthcare 
Media and Entertainment
Travel and Hospitality
Others 

A full Report of Speech Analytics Market is Available at:   https://www.omrglobal.com/industry-reports/speech-analytics-market

Speech Analytics Market Report Segment by Region

 North America

United States
Canada

Europe

UK
Germany
Spain
France
Italy
Rest of Europe

Asia-Pacific

India
China
Japan
South Korea
Rest of APAC

Rest of the World

Latin America 
Middle East & Africa

Company Profiles 

AlmavivAS.p. A.
Amazon Web Services, Inc.
Avaya Inc.
Calabrio Inc.
Callminer, Inc.
Clarabridge, Inc.
Genesys Telecommunication Laboratories, Inc.
Google, LLC
IBM Corp.
Micro Focus International PLC.
Microsoft Corp.
NewVoiceMedia Group (Salesforce.com Inc.)
NICE Ltd. 
OnviSource, Inc.
OPEX Hosting Ltd.
SESTEK (Sestek Sound and Communication Computer Technologies Co.)
ThoughtSpot Inc.

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Over 100+ paid data sources mined for investigation.
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https://www.asiatimeskorea.com/news/2023-2029%eb%85%84%ea%b9%8c%ec%a7%80-%ea%b0%95%eb%a0%a5%ed%95%9c-%ec%84%b1%ec%9e%a5%ec%9d%84-%ec%9d%98%eb%af%b8%ed%95%98%eb%8a%94-%ec%a7%84%eb%8b%a8-%ec%98%81%ec%83%81-%ec%8b%9c%ec%9e%a5/413017/
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