Global Speech Analytics Market, By Component (Service, Solution), By Deployment (Cloud, On-premise), By Organization (SMEs, Large Enterprise), By Application (Call Monitoring, Customer Experience Management, Agent Performance Monitoring, Sales Performance Management, Competitive Intelligence, Risk and Compliance Management, Others), By End-user (BFSI, Government & Defense, Retail and eCommerce, Travel and Hospitality, Healthcare and Life Sciences, Energy and Utilities, Media and Entertainment, Travel and Hospitality, Telecommunications and IT, Others), By Region, Competition, Forecast & Opportunities, 2025
Global speech analytics market is projected to grow at a CAGR of over 10% during 2020 - 2025. Growth in the market is driven by rising adoption of analytical solutions by agencies and corporates. However, high investment cost and complex application system integration are negatively impacting the market growth. Moreover, integrating speech analytic tools with predictive analytics is expensive and further restricts the growth of market. The global speech analytics market is segmented based on component, deployment, organization, application, end-user, and region. Based on component, the market can be categorized into service and solution. The service segment is expected to dominate the market over the next few years.
Based on end-user, the market can be fragmented into BFSI, Government & Defense, Retail and eCommerce, Travel and Hospitality, Healthcare and Life Sciences, Energy and Utilities, Media and Entertainment, Travel and Hospitality, Telecommunications and IT, and Others. In 2019, Telecommunications and IT segment accounted for the largest market share, followed by BFSI and Healthcare & Life Sciences segments.
Regionally, the speech analytics market has been segmented into Asia-Pacific, North America, South America, Europe, and Middle East & Africa. Among these regions, North America is expected to dominate the global speech analytics market majorly due to increasing improvements in the region’s IT infrastructure.
The major players operating in the global speech analytics market include ASC Technologies, Avaya Inc, Calabrio Inc., Call Miner, Clarabridge, GemaTech Ltd, Genesys, New Voice Media, Nice Systems, OnviSource Inc, and Verint, among others. Major companies are developing advanced technologies in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions.
Years considered for this report:
Historical Years: 2015 - 2018
Base Year: 2019
Estimated Year: 2020
Forecast Period: 2021 - 2025
Objective of the Study:
- To analyze and estimate the market size of global speech analytics market from 2015 to 2018.
- To estimate and forecast the market size of global speech analytics market from 2019 to 2025.
- To classify and forecast global speech analytics market-based component, deployment, organization, application, end-users, company and regional distribution.
- To identify dominant region or segment in the global speech analytics market.
- To identify drivers and challenges for global speech analytics market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global speech analytics market.
- To identify and analyze the profile of leading players operating in global speech analytics market.
- To identify key sustainable strategies adopted by market players in global speech analytics market.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of service providers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the service providers which could not be identified due to the limitations of secondary research.
TechSci Research calculated the market size of global Speech Analytics market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of different segments for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
- Speech Analytics players and other stakeholders
- Government bodies such as regulating authorities and policy makers
- Organizations, forums, and alliances related to speech analytics
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as service providers, suppliers and partners, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, global speech analytics market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- Market, By Component:
- Market, By Deployment:
- Market, By Organization Component:
- Large Enterprises
- Market, By Application:
- Call monitoring
- Customer Experience Management
- Agent Performance Monitoring
- Sales Performance Management
- Competitive Intelligence
- Risk and Compliance Management
- Market, By End-user:
- Telecommunications and IT
- Government & Defense
- Retail and eCommerce
- Travel and Hospitality
- Healthcare and Life Sciences
- Energy and Utilities
- Media and Entertainment
- Travel and Hospitality
- Market, By Region:
- North America
- United States
- United Kingdom
- South Korea
- Middle East & Africa
- South Africa
- Saudi Arabia
- South America
Company Profiles: Detailed analysis of the major companies present in global Speech Analytics market.
With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:
- Detailed analysis and profiling of additional market players (up to five).
Report will be updated with the latest data and delivered to you within 3-5 working days of order.