Audio Communication Monitoring Market Outlook 2024: Exclusive Report By The Business Research Company

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2108

The Business Research Company offers in-depth market insights through Audio Communication Monitoring Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.

Market Size And Growth Forecast:
The audio communication monitoring market size has grown exponentially in recent years. It will grow from $9.57 billion in 2023 to $11.71 billion in 2024 at a compound annual growth rate (CAGR) of 22.3%. The growth in the historic period can be attributed to rise in contact centers, expansion of e-commerce and online businesses, increase in focus on employee training and development, growth in focus on security and compliance, rise in remote work.

The audio communication monitoring market size is expected to see exponential growth in the next few years. It will grow to $27.06 billion in 2028 at a compound annual growth rate (CAGR) of 23.3%. The growth in the forecast period can be attributed to rising customer-centric organization, growing concern for stored data security, increasing regulatory compliance, increased data analytics, demand from emerging markets. Major trends in the forecast period include ai-powered sentiment analysis, convergence with speech analytics, multichannel monitoring, blockchain for security, hybrid cloud solutions.

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Market Segmentation:
The main types of audio communication monitoring are wired communication and wireless communication. The wired audio communication monitoring is used to transfer the data at high speed. Wired communications are used to provide higher protection from attacks and transfer the data by using wired-based technology. The different organization sizes include large enterprises, and small and medium-sized enterprises and involve various components such as solutions, and services. It is deployed in the cloud, and on-premises and used by several sectors such as BFSI, media and entertainment, retail and e-commerce, telecom and it, government, healthcare, and life sciences, others (travel and hospitality, education, and transportation and logistics).

Major Driver - Growing Risks Of Telemarketing Fraud, Cybercrimes, And Hacking Propel Audio Communication Monitoring Market
An increase in risk for telemarketing fraud, cybercrimes, and system hacking is expected to propel the growth of the audio communication monitoring market going forward. Telemarketing fraud involves spam emails, spam calls, and spam messages, and similarly, cybercrimes and system hacking are occurred because of data breaches. Cybercrime operations include employing network-connected equipment, such as webcams or closed-circuit television (CCTV) cameras as well as audio monitoring communications, such as calls, emails, text messages, and instant chats, to spy on a targeted individual or group. For instance, in November 2022, according to reports, immuniweb SA, a Switzerland-based application security company, reported that in 2022, 80% of organizations had encountered a security incident related to their cloud infrastructure. Additionally, for instance, in March 2021, Department for Digital, Culture, Media & Sport, Cyber Security Breaches Survey 2021, a UK-based official agency for Digital, Culture, Media, and Sports, four in ten businesses (39%) organizations have reported cyber security breaches or attacks in the last 12 months. Therefore, an increase in risk for telemarketing fraud, cybercrimes, and system hacking is driving the growth of the audio communications market.

Competitive Landscape:
Major companies operating in the audio communication monitoring market include Neptune Intelligence Computer Engineering, Cisco Systems Inc., International Business Machines Corporation, Enghouse Interactive, Google LLC, AudioCodes Ltd., Integrated Research Limited, Martello Technologies Group Inc., Nuance Communications Inc., Tata Communications Limited, Intelligent Voice Ltd., Fonetic Solutions Ltd., Nexidia Inc., Behavox Ltd., Nectar Services Corporation, Nugen Audio, Ameyo Pvt. Ltd., Avaya Inc., Veritone Inc., Relativity, PathSolutions, Empirix Inc., Genesys Telecom Labs, Vyopta Inc., Elastix, Dashbase Inc., Ribbon Communications Operating Company Inc., Deepgram Inc., Haloocom Technologies Private Limited, Toku Inc., Servetel, CloudTalk Inc., Verint Systems Inc., Zoom Video Communications Inc., CallMiner Inc., Clarabridge Inc., Speechmatics Ltd., Voci Technologies Inc., VoiceBase Inc., CallRail Inc., Marchex Inc., RingCentral Inc., Aircall Inc., Talkdesk Inc., Five9 Inc., Vonage Holdings Corp., 8x8 Inc., Dialpad Inc., Twilio Inc., Natterbox Ltd.

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Top Trend - Rising Adoption Of Ai And Nlp Technologies In Audio Communication Monitoring Market
The growing use of artificial intelligence (AI) and NLP (NLP) technologies is a key trend gaining popularity in the audio communication monitoring market. NLP is one of the branches of AI that make the machine understand the language of humans. Many companies operating in the audio communication monitoring sector are launching innovative technologies related to AI to meet consumer demand. For example, in July 2021, Tata Communications, an India-based telecommunications company launched the 'IZO Financial Cloud' platform. This platform enables open banking, provides digital services and strengthens customer trust by providing security through a cloud model involving artificial intelligence, blockchain, and machine learning.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Audio Communication Monitoring Market Characteristics
3. Audio Communication Monitoring Market Trends And Strategies
4. Audio Communication Monitoring Market - Macro Economic Scenario
5. Audio Communication Monitoring Market Size And Growth
…..
27. Audio Communication Monitoring Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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