The North American speech analytics market is estimated to witness a CAGR of 21.4% during the forecast period, 2014 to 2019. Even though the U.S. held the largest share in the North American speech analytics market in 2014, the speech analytics market in Canada is also expected to grow considerably during the forecast period. The growth of the North American speech analytics market is driven by high penetration rate of the speech analytics in media & entertainment, healthcare, government, defense, and aerospace verticals so as to get useful information from the raw data available in the customer call centers. However, the process of the speech analytics can be time consuming sometimes, when there is a need to search for some particular information specific to a particular call. The U.S. and Canada are creating growth opportunities for the speech analytics solutions in the North American region.
The North American speech analytics market is segmented and forecast on the basis of application as business process management, agent performance management, market intelligence management, customer experience management, risk and compliance management, and others. On the basis of geography, the North American speech analytics market is segmented into the U.S., Canada, and Mexico. Factors such as, increased usage of the speech analytics software supporting applications by the organizations to analyze consumer behavior and then design strategies accordingly, and the rapid growth in the tech savvy population are driving the growth of the North American speech analytics market.
In 2014, North America accounted for a market share of 51.1% in the global speech analytics market. The U.S dominated the North American speech analytics market in 2014 and accounted for a market share of 71.2%. Technological advancements along with increased number of the call centers are the factors contributing to the growth of the North American speech analytics market.
As of 2014, the North American speech analytics market was dominated by NICE Systems (Israel), Verint Systems (U.S.), and Nexidia Inc. (U.S). New product launches, partnerships, acquisitions, and collaborations are the key strategies adopted by the leading market players to achieve growth in the North American speech analytics market.
Reasons to buy the report:
From an insight perspective, this research report has focused on various levels of analysis—industry analysis (industry trends, and PEST analysis), market share analysis of the top players, supply chain analysis, and company profiles. These insights together comprise and discuss the basic views on the competitive landscape, emerging and high growth segments, initiatives and the regulatory policies of the respective governments, drivers, restraints, and opportunities.
The report will enrich both, established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help them in garnering a greater market share. Firms purchasing the report could use any one or combination of the below mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) to strengthen their market shares.
The report provides insights on the following pointers:
Market Penetration: Comprehensive information on the speech analytics solutions offered by the top five players in the North American speech analytics market .
Product Development/Innovation: Detailed insights on the new and developing technologies, research and development activities, and new product launches in the North American speech analytics market.
Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for various speech analytics solutions across geographies.
Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the North American speech analytics market.
Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the North American speech analytics market.
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