Speech Analytics Market Industry Outlook, Analysis, Future Plans And Growth Factors

Speech Analytics Market size was valued at USD 2.30 Bn in 2022 and is expected to reach USD 8.84 Bn by 2029 at a CAGR of 21.2 percent.

Speech Analytics Market Report Scope and Research Methodology

The report provides an in-depth analysis of the strategies of the leading players in the Speech Analytics Market industry, as well as a thorough analysis of the various market segments and geographies. SWOT analysis was employed to provide the strengths and weaknesses of the Speech Analytics Market's key players. The research was conducted by dividing the market into five main segments: By component, by application, by deployment mode, by organization size, and by end-user which were further divided into various sub-segments. A detailed analysis of Speech Analytics Market dynamics including drivers, restraints, opportunities, and challenges is provided region-wise and segment-wise.

The data collected by using primary and secondary research and analyzed by MMR analysts on the Speech Analytics Market was combined for accurate inferences. To collect information for the Speech Analytics Market report on important factors such as market trends, market size, growth trends, competitive landscape, outlook, etc., primary interviews were conducted while the secondary information was collected from sources such as paid databases, free databases, annual or financial reports, government documents, company websites, and industry white papers. The bottom-up approach was used to estimate the global and regional Speech Analytics Market size.

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What are Speech Analytics Market Dynamics?

The market is driven by factors such as increasing demand for customer experience (CX) improvement where speech analytics can help businesses understand customer needs and preferences, growing adoption of cloud-based speech analytics, and the adoption of artificial intelligence (AI) and machine learning (ML).In addition to shaping the future of the Speech Analytics Market rise of Omni channel, and the adoption of Speech Analytics in new industries. The global Speech Analytics Market is dominated by a few large players, such as NICE, Verint, and Genesys. There are some challenges that impact the Speech Analytics Market such as privacy and security, the complexity of the Speech Analytics Market, and the cost of the Speech Analytics Market despite these challenges the Speech Analytics Market is expected to grow.

Speech Analytics Market Segmentation?

By Component
• Solutions
o Speech Engine
o Indexing and Query Tools
o Reporting and Visualization Tools
o Quality Management
o Root Cause Analysis
o Other Solutions (Emotion Detection and Workforce Optimization)
• Services
o Professional Services
 Training and Consulting
 System integration and implementation
 Support and Maintenance
o Managed Services

By Application
• Customer Experience Management
• Call monitoring and summarization
• Agent performance monitoring
• Sales and marketing management
• Risk and compliance management
• Sentiment analysis
• Other Applications

By Deployment Mode
• Cloud
• On-premises

By Organization Size
• Large enterprises
• Small and medium-sized enterprises (SMEs)

By Organization Size
• Banking Finance Services and Insurance (BFSI)
• IT and Telecom
• Media and Entertainment
• Healthcare and Life Sciences
• Retail and eCommerce
• Travel and Hospitality
• Government and Defense
• Healthcare and life sciences
• Other Verticals

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Who are 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

Table of content for the Speech Analytics Market includes:

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

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Regional Insights:

The North America Speech Analytics Market is dominated by larger players, such as NICE, Verint, and Genesys. However, there are also a number of smaller players in the market. North America has accounted for over 35% of the global market share in 2022. Europe is the second-largest Speech Analytics Market in the world, still, there is a growing trend of consolidation in the market. Asia Pacific is expected to grow at the highest CAGR as it provides lucrative opportunities for various solutions and services.

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