Speech Analytics Market 2024-2030: Strategic Investments and Business Opportunities
Speech Analytics Market was valued at USD 2.78 Bn in 2023 and is expected to reached at USD 10.71 Bn in 2030. Speech Analytics Market size is expected to grow at a CAGR of 21.2% through the forecast period.
Speech Analytics Market Overview:
Maximize Market Research is a Business Consultancy Firm that has published a detailed analysis of the Speech Analytics Market. The report includes key business insights, demand analysis, pricing analysis, and competitive landscape. The report provides the current state of the Speech Analytics market by thorough analysis, and projections are made up to 2030.
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Speech Analytics Market Scope and Methodology:
The approach that gives investors relevant information by combining descriptive analysis and SWOT analysis is covered in the study. Giving a complete picture of the Speech Analytics market is the study's main objective. The process of gathering data involves a variety of methods, such as questionnaires and surveys. After then, mathematical, statistical, and numerical techniques are used to evaluate the data. Gathering and categorizing data is crucial since a combination of qualitative and quantitative research methodologies are needed to identify Speech Analytics market trends.
The buyer-direct scenario, RD projects, innovative forms of development, cutting-edge industry practices, and market consolidations and acquisitions are all carefully examined in order to evaluate the potential futures of the market. Included in the research are charts, organizational portfolios, methods, and a critical evaluation of well-known corporate leaders. A thorough SWOT and PESTLE analysis was conducted on the Speech Analytics Market in order to pinpoint market trends and provide microeconomic factors.
Speech Analytics Market Regional Insights:
The Regional Analysis section displays the present state of the Speech Analytics market in each of the study's participating nations. Due to the complexity of the Speech Analytics business, local perspectives must be considered. North America, Europe, Asia-Pacific, Latin America, the Middle East, and Africa are the regions that comprise the Speech Analytics market. We extensively examine each research region's market size, growth rate, imports and exports, as well as other particular characteristics.
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Speech Analytics Market Segmentation:
by Component
Solutions
Services
According to estimates, the solutions category will have the biggest market share growth in 2023. Over the course of the projection period, the customer experience management application category is anticipated to have a greater market share. It enables businesses to leverage current customer data to spot patterns and trends, create retention plans, and lower customer attrition. The requirement to examine customer call recordings in order to determine customer intent and conduct behavior analysis is responsible for various factors, including the indexing and query tools segment's large market share.
by Application
Customer Experience Management
Call monitoring and summarization
Agent performance monitoring
Sales and marketing management
Risk and compliance management
Sentiment analysis
Other Applications
Over the course of the projected period, the Customer Experience Management segment is anticipated to post the higher CAGR. Contact centers now connect and communicate much more effectively thanks to these apps, which has improved business performance. Speech analytics solutions have the power to completely change a business by giving them several techniques to guarantee that every client interaction is secure and of consistently high quality. The speech engine provides inputs by identifying and comprehending conversations.
by Deployment Mode
Cloud
On-premises
by Organization Size
Large enterprises
Small and medium-sized enterprises (SMEs)
by End-User
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
Over the course of the forecast period, the retail and e-commerce industry vertical is anticipated to increase at the greatest CAGR. With speech analytics becoming more and more important in improving customer happiness, retention rates, and churn rates, the BFSI vertical is expected to hold a greater market share during the projection period. The majority of businesses use speech analytics tools to interpret the conversational data they collect and use that data to improve operational efficiency. The retail and e-commerce segments of the speech analytics market are expanding as a result of the growing use of speech analytics tools in the business process outsourcing (BPO) sector.
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Speech Analytics Market Key Players:
- Verint Systems
- Avaya
- Calabrio
- CallMiner
- Clarabridge
- Almawave
- Voci Technologies
- Zoom International
- NICE Systems
- Genesys
- HPE
- Tatwa Technologies
- Uniphore Software Systems
- Micro Focus
- Avaya
- AWS
- Vonage
- OpenText
- Calabrio
- Eleveo
- Almawave
For deeper market insights, peruse the summary of the research report:https://www.maximizemarketresearch.com/market-report/speech-analytics-market/12971/
Key questions answered in the Speech Analytics Market are:
What growth strategies are the players considering to increase their presence in Speech Analytics?
What are the upcoming industry applications and trends for the Speech Analytics Market?
What are the recent industry trends that can be implemented to generate additional revenue streams for the Speech Analytics Market?
Who are the leading companies and what are their portfolios in Speech Analytics Market?
What segments are covered in the Speech Analytics Market?
Who are the key players in the Speech Analytics market?
Which application holds the highest potential in the Speech Analytics market?
What are the key challenges and opportunities in the Speech Analytics market?
What is Speech Analytics?
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Key Offerings:
Past Market Size and Competitive Landscape (2018 to 2023)
Past Pricing and price curve by region (2018 to 2023)
Market Size, Share, Size Forecast by different segment | 2024−2030
Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
Market Segmentation – A detailed analysis by segment with their sub-segments and Region
Competitive Landscape – Profiles of selected key players by region from a strategic perspective
Competitive landscape – Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER’s analysis
Recommendations
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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