Speech Analytics Market Report 2024: Size, Share, Growth, Trends, Analysis, Forecast 2033

"The new report published by The Business Research Company, titled ""Speech Analytics Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033"", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the speech analytics market size has grown exponentially in recent years. It will grow from $2.57 billion in 2023 to $3.17 billion in 2024 at a compound annual growth rate (CAGR) of 23.5%. The speech analytics market size is expected to see exponential growth in the next few years. It will grow to $7.62 billion in 2028 at a compound annual growth rate (CAGR) of 24.5%.

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Rapid Adoption Of Speech Analytics Transforms Industries And Drives Market Growth
The high adoption of speech analytics by companies is significantly driving the growth of the speech analytics market. Since speech analytics help in problem identification, customer experience enhancement as well as sentiment analysis, companies across various industrial segments are adopting speech analytics rapidly. This creates a huge scope for future development of speech analytics technology by key companies through partnerships and strategic alliances. For instance, in September 2021, Scotiabank partnered with Google Cloud to strengthen the bank's cloud-first commitment and speed up its global speech, text, and data analytics strategy. Google Cloud, as a Scotiabank trusted partner for analytics, will assist Scotiabank customers in the Americas and around the world in creating a more personalized and predictive banking experience. This partnership helps Scotiabank to offer more customized banking services by adopting speech and data analytics using Google Cloud. Hence, the increasing adoption of speech analytics by companies is expected to propel the growth of the speech analytics market over the coming years.

The Growing Influence Of Advanced Technology In The Speech Analytics Market
Using advanced technology is a key trend gaining popularity in the speech analytics market. Major companies operating in the speech analytics sector are focused on developing new technological solutions to strengthen their position. For instance, in April 2021, Verint released the Verint Intelligent Virtual Assistant Professional (IVA Pro) Package, a low-code conversational artificial intelligence (AI) offering that can transform existing conversation data into automated self-service experiences quickly. The package, which is included in Verint's market-leading Intelligent Virtual Assistant (IVA) offering, enables business professionals to quickly deploy a production-ready chatbot to deflect calls and provide customer support. With boundless intelligence for both voice and digital, Verint IVA enables businesses to expand capabilities across the enterprise.

The speech analytics market covered in this report is segmented -
1) By Components: Solutions, Services
2) By Deployment Mode: Cloud, On-premises
3) By Organization Size: Large enterprises, Small and Medium-Sized Enterprises (SMEs)
4) By Applications: Customer Experience Management, Call Monitoring and Summarization, Agent Performance Monitoring, Sales and Marketing Management, Risk and Compliance Management, Sentiment Analysis
5) By Vertical: Banking Finance Services and Insurance (BFSI), IT and Telecom, Media and Entertainment, Retail and eCommerce, Travel and Hospitality, Government and Defence, Healthcare and life sciences, Other Verticals

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Major companies operating in the speech analytics market report are NICE Systems Ltd., Verint Systems Inc., Avaya Holdings Corp., OpenText Corporation, Genesys Telecommunications Laboratories Inc., Calabrio Inc., Clarabridge Inc., Castel Communications LLC, VoiceBase Inc., Google LLC, Vonage Holdings Corp., Micro Focus International plc, Zoom International S. A., Almawave S. p. A., Talkdesk Inc., Alvaria Inc., Hewlett Packard Enterprise Company, Interactive Intelligence Group Inc., InContact Inc., Clarifai Inc., Uniphore Software Systems Pvt. Ltd., Deepgram Inc., Eleos Health Inc., Sonde Health Inc., Aural Analytics Inc., Intelligent Voice Ltd., Phonexia s. r. o., Daisee Pty Ltd, CloudTalk s. r. o., CallTrackingMetrics LLC, SpeechTech Ltd., Batvoice Technologies

Contents of the report:
1. Executive Summary
2. Speech Analytics Market Report Structure
3. Speech Analytics Market Trends And Strategies
4. Speech Analytics Market - Macro Economic Scenario
5. Speech Analytics Market Size And Growth
…..
27. Speech Analytics Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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