Unlocking Opportunities in the Voice And Speech Analytics Market: 2025-2034 Forecast Report

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What Will the Voice And Speech Analytics Industry Market Size Be by 2025?
The voice and speech analytics market has experienced a swift expansion in the past few years. The market size is predicted to rise from $2.54 billion in 2024 to $3.04 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 19.9%. The impressive growth recorded during this historic period can be credited to several factors including the quick adoption of conversational AI, development of solutions that cater to specific industries, combination with superior analytics platforms, personalization fueled by AI, and a focus on analyses of emotions and sentiments.

What's the Long-Term Growth Forecast for the Voice And Speech Analytics Market Size Through 2029?
The market size for voice and speech analytics is predicted to undergo swift expansion in the coming years, reaching a staggering $5.7 billion by 2029 with a compound annual growth rate (CAGR) of 17.0%. This projected growth through the forecast phase can be credited to the escalating adoption of cloud technology, the mounting demand for enhancing customer experience, the emergence of multichannel communication, an increased emphasis on fraud detection and security, and the rising presence of big data. Key trends forecasted for this period encompass multi-channel analytics, real-time sentiment analysis, the use of emotion recognition technology, a focus on adherence to compliance and ethical AI, and the utility of predictive analytics in understanding customer behavior.

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What Are the Key Growth Drivers Fueling the Voice And Speech Analytics Market Expansion?
As video content marketing sees a significant rise, the voice and speech analytics sector is also predicted to benefit from this growth. Video content marketing, which is the process of designing, utilizing, and strategically arranging videos to deliver, publicize, or convey messages for marketing goals to a specified audience, employs voice and speech analytics for tactics driven by data, understanding the audience, and boosting video content for improved interaction and effect. For example, a Wyzowl survey conducted in February 2023 with 528 participants signaled an increase in the adoption of video content marketing to 91%, up from 86% from the previous year. Thus, this growing popularity for video content marketing is set to fuel the expansion of the voice and speech analytics market.

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What Are the Key Trends Driving Voice And Speech Analytics Market Growth?
Leading businesses in the voice and speech analytics market are prioritizing strategic partnerships to create high-tech products. Strategic collaboration signifies a formal agreement among two or more entities, be it organizations, people, or institutions, to jointly accomplish a common set of goals that are mutually beneficial. For example, in February 2023, India-based telecommunications service firm Bharti Airtel Limited entered into a collaboration with Nvidia Corporation, a tech company based in the U.S. They launched a speech analytics solution based on artificial intelligence. Airtel utilized Nvidia's conversational AI toolkit NvidiaNeMo and the Triton Inference Server, a multi-framework inference-serving software, to create this tailored voice application. The future plan of Airtel involves integrating its deep learning powered automated speech recognition (ASR) models with Nvidia's advanced software to scrutinize language properly and make useful modifications to its operations. According to them, this method will deliver results at 30% of the usual computation cost. This speech analytics technology is more sustainable with a reduced carbon footprint and lower greenhouse gas (GHG) emissions.

How Is the Voice And Speech Analytics Market Segmented?
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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Which Companies Are Leading the Charge in Voice And Speech Analytics Market Innovation?
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

Which Regions Are Leading the Global Voice And Speech Analytics Market in Revenue?
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.

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