Speech Analytics Market Data Dimensions: Size, Share, Revenue, and Worth Statistics Overview | 2024-2030
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 analysis in the report provides an in-depth aspect at the current status of the Speech Analytics market, with forecasts outspreading to the year 2030.
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Speech Analytics Market Scope and Methodology:
Maximize market research covers competitive landscape, key competitors and their market shares for better understanding of the industry. The report also discusses new product developments and technology trends. The report provides a detailed overview of the Speech Analytics market through both quantitative and qualitative analysis. The report aims to help readers develop business strategies and assess their position in the market by providing a comprehensive analysis of the competitive landscape. The purpose of the report is to provide the necessary information to make an informed decision regarding the Speech Analytics market. In addition, the report delivers information on revenue, sales volume, and average price of the entire market and sub-segments in various segments and regions to assist portable notebook manufacturers, new entrants, and companies involved in the industry chain market.
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Speech Analytics Market Regional Insights:
In a regional analysis, the Speech Analytics market is segmented into North America, South America, Europe, the Middle East and Africa, and Asia Pacific. These regions are classified as corresponding countries such as the United States, Canada, Mexico, United Kingdom, Germany, France, Spain, Italy, Rest of Europe, China, India, Japan, Australia, and South Korea.
Speech Analytics Market Segmentation:
by Component
Solutions
Services
The solutions segment is predicted to have the biggest market share growth in 2023, according to Component. Over the course of the forecast period, the market share of the customer experience management application category is anticipated to increase. It enables businesses to use real-time customer data to see trends and patterns, create retention plans, and lower customer attrition. The requirement to examine customer call recordings in order to identify consumer intent and conduct behavior analysis is one of the factors contributing to the indexing and query tools segment's high 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. These apps have significantly changed how contact centers connect and communicate, which has improved business performance. Speech analytics solutions have the power to completely change a corporation by offering several methods for guaranteeing that every consumer interaction is safe and of consistent quality. The speech engine generates outputs by assisting in the recognition and comprehension of talks.
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. Throughout the projected period, the BFSI vertical is anticipated to hold a greater market share due to the growing significance of speech analytics in improving customer satisfaction, increasing retention rates, and decreasing customer attrition rates. The majority of businesses use speech analytics software to comprehend the conversational data that is produced and use it to increase operational efficiency. The retail and e-commerce sectors 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
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Key questions answered in the Speech Analytics Market are:
What is Speech Analytics?
What was the Speech Analytics market size in 2023?
What is the growth rate of the Speech Analytics Market?
What is the CAGR at which the Speech Analytics market will grow during the forecast period?
What are the different segments of the Speech Analytics Market?
Which is the fastest-growing region in the Speech Analytics market?
Which are the factors expected to drive the Speech Analytics market growth?
What growth strategies are the players considering to increase their presence in Speech Analytics?
What are the upcoming opportunities 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?
What segments are covered in the Speech Analytics Market?
Who are the key players in the Speech Analytics market?
Who are the leading companies and what are their portfolios in Speech Analytics Market?
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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
Value chain and supply chain analysis
Legal Aspects of Business by Region
Lucrative business opportunities with SWOT 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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