Speech Analytics Market: Key Players, Share, And Forecast Report To 2028

-

Speech analytics refers to the process of evaluating recorded customer calls to collect information. This is done to improve communication and future interaction with the customers. Call recordings help an enterprise to gain rare insights about customer satisfaction, competitive intelligence, service issues, agent performance, and campaign effectiveness. Speech analytic solutions provide advanced functionalities and valuable intellects from customer calls. This information is used to discover information related to the strategy, operational issues, and contact centre agent performance of the company. Speech analytics software can give a company a significant competitive advantage. It helps to gain valuable information about the product and processes of a company. This helps companies to improve deliverables and gain customer satisfaction. It enables companies to reduce their operating expenses and save money. This has led to increased sales conversion rates as speech analytic tools help in the understanding response of different customer demographics toward the offers made. Speech analytics provides an unconditional analysis of recorded phone conversations of the company and its customers.

To know the scope of our report get a sample on https://www.axiommrc.com/request-for-sample/10540-speech-analytics-market-report

SPEECH ANALYTICS MARKET DYNAMICS

Growing demand to monitor and improve agent performance, high growth in the numbers of customer interaction centres, adherence to regulatory and compliance standards, increasing focuses on taking competitive edge through market intelligence and rising requirements for compliance and risk management are some of the factors that are driving the Speech Analytics market. Expensive solutions and low awareness of the potential benefits of this technology among enterprises are few of the reasons that may slow down the adoption of speech analytics solutions and services among various industry verticals and domains. Cloud-based real-time speech analytics solutions and services are expected to provide high opportunities for various market players that are operating in this market.

Some More....https://justpaste.it/2mj2r

COVID 19 IMPACTS ON SPEECH ANALYTICS MARKET

COVID-19 would have an impact on all the elements of the technology sector. The global ICT spending is estimated to decline by 4%–5% by the end of 2020. Moreover, the hardware business is predicted to have the most impact on the IT industry. Due to the slowdown of hardware supply and reduced manufacturing capacity, the IT infrastructure growth has slowed down. Businesses providing solutions and services are also expected to slow down for a short time. However, the adoption of collaborative applications, analytics, security solutions, and AI is set to increase in the remaining part of the year.

In a short time, the COVID-19 outbreak has affected markets and customers' behaviour and has a substantial impact on economies and societies. With offices, educational institutions, and manufacturing facilities shutting down for an indefinite period; major sports and events being postponed; and work-from-home and social distancing policies in effect, businesses are increasingly looking for technologies to assist them through these difficult times. Analytics professionals, business intelligence professionals, and professionals providing expertise in more advanced analytics such as AI and ML have been called for their expertise to help executives make business decisions on how to respond to the new business challenges caused by the COVID-19 outbreak.

SPEECH ANALYTICS MARKET BY TYPE

Speech analytic solutions are deployed by several contact centres across the world in a variety of applications including compliance management, agent performance management, customer experience management, and to gain market intelligence.

The solutions segment captured a significant share and is expected to dominate the market over the forecast period. However, the segment is expected to witness maturity ascribed to the higher adoption that will result in the services segment to gain traction in the next nine years. The market offers an extensive portfolio of solutions and, therefore, services are necessary to manage these solutions and help organizations enhance their business process for sustaining in this competitive landscape.

SPEECH ANALYTICS MARKET BY VERTICAL

In the telecom industry, using speech analytics to gain a hold over infrastructure, telecom industry easily resolves the issues, thereby increasing productivity, decreasing stress, and saving time & money. The speech analytics market is expected to witness significant growth in IT industry owing to the rising adoption of speech analytics tools across the Business Process Outsourcing industry (BPO). Further, the introduction of advanced technological tools to enhance customer experiences is anticipated to propel the speech analytics demand.

SPEECH ANALYTICS MARKET BY ENTERPRISE SIZE

The organization size is divided into small and medium enterprises and large enterprises. Large enterprises expected to grow at a higher CAGR in the forecast period. Cellular M2M service providers help large enterprises in optimizing the network infrastructure, deploy latest applications that help them lower the operational costs, improve operational efficiencies, troubleshooting the IoT device issues, and detecting and mitigating security attacks. They always focus on the adoption of industry solutions that can help them in increasing their operational efficiency.

SPEECH ANALYTICS MARKET BY APPLICATION

In the speech analytics market by application, the competitive intelligence segment is expected to record higher CAGR during the forecast period. The speech analytics market is segmented based on applications into customer experience management, call monitoring, competitive intelligence, agent performance monitoring, sales and marketing management, risk and compliance management, and others (business process management, and predictive analysis). These applications have made a huge difference in the way that contact centres connect and communicate, thus improving the performance of enterprises. Speech analytics solutions can transform an organization by providing many ways of ensuring that they are delivering a consistent quality of service and a secure experience at every customer touchpoint.

SPEECH ANALYTICS MARKET BY PLATFORM

On-premised employment was the largest segment, accounting for over 50% of the total revenue in 2015. On-premise solutions provide better control over the system and data. However, this deployment method is costly and requires a dedicated IT staff for the maintenance & support and high-end IT infrastructure, owing to which the segment is anticipated to witness sluggish growth in comparison to the cloud deployment.

The cloud-based deployment segment accounted for a considerable share in 2015 and is expected to witness high demand over the forecast period. The availability of cloud deployment options for speech analytics solutions has propelled the demand further across different verticals, including telecom, IT, BFSI, and media & entertainment, among others. New firms are providing cloud-based solutions to offer SMEs cost-effective solutions.

SPEECH ANALYTICS MARKET BY GEOGRAPHY

Geographically, the Speech Analytics Market is studied across the countries of key regions such as, North America, Europe, Asia Pacific and Rest of the world regions which includes Latin America, and Middle East & Africa. North America is expected to hold the largest market size in the global speech analytics market during the forecast period. The key factor favouring the growth of the market in North America is the increasing demand for enhanced customer support services to strengthen customer retention initiatives. Europe is expected to be in the second position in terms of market size and market share during the forecast period. The growing demand to reduce enterprise workloads related to internal and external communication monitoring is boosting the adoption of speech analytics solutions in Europe. APAC is expected to record the fastest growth rate during the forecast period. The speech analytics market is expected to witness considerable developments and adoption of solutions across APAC during the forecast period. The increasing number of players across different regions is further expected to drive the market.

SPEECH ANALYTICS MARKET KEY PLAYERS

Some of the vital players operating in this market include NICE, Verint, Micro Focus, Avaya, Genesys, Google, AWS, Vonage, OpenText, Calabrio, CallMiner, Clarabridge, Eleveo, Voci Technologies, Almawave, Marchex, Enghouse Interactive, Castel, Aspect, Sabio, Business Systems, Talkdesk, VoiceBase, Tech Mahindra, Invoca, Tethr, Cognito, Intelligent Voice, Kwantics, Batvoice AI, Speech Village, Speech-i Ltd, SpeechTech, Gnani.ai, Observe.AI, and Deepgram.

Buy now Speech Analytics Market Report https://www.axiommrc.com/buy_now/10540-speech-analytics-market-report

Comments

Post a Comment

Popular posts from this blog

Dental Prosthetics Market Comprehensive Research Study, Trends, Share, Emerging Factors and Future Demands

-
Dental Prosthetics Market research report provides comprehensive information on the market. It also includes in-depth information about Market Drivers, Opportunities, Market Restraints, Market Growth Challenges and Cumulative Growth Analysis. Moreover, the report also provides an in-depth analysis of the Dental Prosthetics Market by identifying key players. The report also examines the competitive landscape of the Dental Prosthetics Market industry and analyses its impact on the growth of this market over the next few years. The segmental analysis focuses on revenue and forecast for the period 2019-2029. Request PDF Sample Copy of Report @ https://www.axiommrc.com/request-for-sample/hc1875-dental-prosthetics-market-report The dental prosthetics market has been growing rapidly over the past few years, thanks to the increasing demand for dental prosthetics due to the rising prevalence of dental disorders and the growing geriatric population. Dental prosthetics are artificial de...
Read more

Electric Vehicles Battery Market Is Expected To Grow At A CAGR From 2019 To 2028

-
Image
An electric vehicle functions on electricity unlike its counterpart, which runs on fuel. Rather than internal combustion engine, these vehicles run on an electric motor which involves constant supply of energy from batteries. There are a variety of batteries used in these vehicles. Electric vehicles were principally intended to replace conventional ways of travel as they result in environmental pollution. Today, electric vehicles have gained attraction due to several technological advancements. The electric car market is growing quickly, with more than 128,500 pure-electric cars on UK roads at the end of May 2020 - and over 315,000 plug-in models including plug-in hybrids (PHEVs). The most recent set of figures from the Society of Motor Manufacturers and Traders (SMMT) show that pure-electric models accounted for 6% of total new car registrations, whilst adding in PHEVs takes that figure up to 10%. Electric vehicles utilize one or more than one electric motors or traction motors fo...
Read more

Seaweed Market: Amazon is funding the world’s first commercial-scale seaweed farm located between offshore wind turbines

-
Image
Seaweed are well-defined as macroscopic and multicellular marine algae which are utilized to extract many vital gums and are present globally. Seaweed are mostly used in cosmetics, paints and also for the production of adhesives. Seaweed are also used in dyes, gels and in textile and paper industries. Seaweed are accessible in numerous forms and their extracts are used extensively across the food industries. They are rich source of calcium, vitamin K and Iron which makes its consumption more advantageous as it provides many health benefits. To know the scope of our report get a sample  on https://www.axiommrc.com/request-for-sample/800-seaweed-market-research-report MARKET DYNAMICS- GLOBAL SEAWEED MARKET Surge in demand for natural food extracts conveying health benefits is expected to drive the market for seaweed. Growing demand for nutritious foods and alginates in food products is inducing the growth of seaweed market as a key ingredient. It is not only used in food industri...
Read more