Voice And Speech Analytics Market Size Projected To Reach $5.7 Billion By 2034 With A Cagr Of 17%

The Voice And Speech Analytics Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Projected Growth of the Voice And Speech Analytics Market?
The market size for voice and speech analytics has seen a swift expansion in the past years. It is projected to rise from $2.54 billion in 2024 to $3.04 billion in 2025, with a Compound Annual Growth Rate (CAGR) of 19.9%. Factors contributing to this growth during the historical phase include the swift adoption of conversational AI, propagation of field-specific solutions, amalgamation with sophisticated analytics platforms, AI-powered personalization, and a focus on emotional and sentiment analysis.

The market size for voice and speech analytics is anticipated to experience accelerated expansion in the upcoming years, reaching a value of $5.7 billion by 2029, with a compound annual growth rate (CAGR) of 17.0%. The surge in growth during the forecast period can be attributed to factors such as an uptick in cloud computing adoption, a heightened emphasis on improving customer experiences, the emergence of multichannel communication, focus on preventing fraud and enhancing security, and greater access to big data. Key trends for the forecast phase encompass the use of multi-channel analytics, real-time emotion analysis, emotion recognition technology, concentration on compliance and ethical artificial intelligence, along with predictive analytics to understand customer behavior.

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What Are the Different Voice And Speech Analytics Market Segments?
The voice and speech analytics market covered in this report is segmented -

1) By Component: Solutions, Services
2) By Deployment Mode: On-Premises, Cloud
3) By Organization Size: Large Enterprises, Small And Medium-Sized Enterprises (SMEs)
4) By Application: Customer Experience Management, Call Monitoring And Summarization, Agent Performance Monitoring, Sales And marketing Management, Risk And Compliance Management, Sentiment Analysis, Other Applications

Subsegments:
1) By Solutions: Cloud-Based Solutions, On-premises Solutions, Speech Recognition Software, Natural Language Processing (NLP) Tools
2) By Services: Consulting Services, Implementation Services, Support And Maintenance Services, Training And Education Services

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What Are the Primary Drivers Shaping the Voice And Speech Analytics Market?
The voice and speech analytics market's expansion is anticipated to be fuelled by the rise in video content marketing. Video content marketing pertains to the production and strategic deployment of videos for conveying messages, advertising, or promoting to a specific audience for marketing reasons. Voice and speech analytics play a crucial role in video content marketing, aiding in data-centric decision-making, comprehensive understanding of audiences, and fine-tuning of video content to amplify engagement and influence. For instance, a survey conducted by Wyzowl, a UK-based video marketing agency and software company, with 528 participants in February 2023, demonstrated a surge in the adoption of video content marketing by businesses, leaping to 91% from the previous 86% usage noted in 2022. Hence, the escalating demand for video content marketing is poised to spur the voice and speech analytics market's growth.

Which Companies Are Leading in the Voice And Speech Analytics Market?
Major companies operating in the voice and speech analytics market report are Google LLC, Amazon Web Services Inc., Hewlett Packard Enterprise Development LP, Micro Focus International PLC, Avaya Inc., NICE Systems Ltd., Genesys Telecommunications Laboratories Inc., Qualtrics, Vonage, AlmavivA S.p.A., Verint System Inc., Five9 Inc., Enghouse Interactive Inc., Talkdesk Inc., ThoughtSpot Inc., Uniphore, Calabrio Inc., CallMiner, Marchex Inc., Sabio Group, Clarabridge, Nexidia Inc., CallTrackingMetrics, Castel Communications LLC, VoiceBase Inc., 3CLogic Inc., Beyond Verbal, Voci Technologies Inc., RankMiner, Zoom Speech Analytics

What Are the Major Trends Shaping the Voice And Speech Analytics Market?
Leading companies in the voice and speech analytics market are placing their focus on strategic partnerships to create products that are at the forefront of technology. A strategic partnership is a formal agreement between two or more parties (such as organizations, individuals, or institutions), aimed at working in unison to achieve mutual goals. For example, in February 2023, Bharti Airtel Limited, a telecommunications services company based in India, formed a collaboration with Nvidia Corporation, a technology company based in the US. The partnership's goal was to launch a speech analytics solution powered by artificial intelligence. Airtel utilized Nvidia's NvidiaNeMo conversational AI toolkit and the Triton Inference Server, a multi-framework inference-serving software, to develop this specialized voice application. By merging its automated speech recognition (ASR) models, which are based on deep learning, with Nvidia's software, Airtel plans to effectively analyze language and apply realistic modifications to its operations. This strategy is estimated to yield outcomes at only 30% of the typical computation cost. Moreover, this speech analytics technology is eco-friendlier, with a reduced carbon footprint and lower greenhouse gas (GHG) emissions.

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What Are the Top Revenue-Generating Geographies in the Voice And Speech Analytics Market?
North America was the largest region in the voice and speech analytics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the voice and speech analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Voice And Speech Analytics Market?
2. What is the CAGR expected in the Voice And Speech Analytics Market?
3. What Are the Key Innovations Transforming the Voice And Speech Analytics Industry?
4. Which Region Is Leading the Voice And Speech Analytics Market?

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