Global Speech Analytics Market Report (2022 to 2027) - Industry Trends, Share, Size, Growth, Opportunity and Forecasts - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Speech Analytics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.

The global speech analytics market size reached US$ 1.8 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 5.9 Billion by 2027, exhibiting a CAGR of 21.88% during 2021-2027.

Companies Mentioned

• Almawave S.p.A.
• ASC Technologies AG
• Avaya
• Calabrio Inc.
• CallMiner
• Clarabridge
• GemaTech
• Genesys
• inContact (NICE Systems)
• OnviSource Inc.
• OPEX Hosting
• Verint System Inc.

Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.

Speech analytics refers to the automated process of extracting audio recordings or live calls and analyzing them to find relevant business insights. It is performed using specialized software that can understand the spoken word of many dialects and translate it into text.

It is widely utilized in healthcare and banking, financial services, and insurance (BFSI) sectors, which have compliance requirements regarding customer data storing and searching. Nowadays, it can be combined with customer relationship management (CRM) strategies to help businesses increase their bottom line and improve customer retention rates.

Contact centers have become a major source for gaining customer feedback. However, the volume of call recordings exceeds the contact center's ability to review and analyze them manually. This represents one of the significant factors influencing the demand for speech analytics for automatically providing insights about customer satisfaction, competitive intelligence, service issues, agent performance, and campaign effectiveness.

Additionally, due to the escalating need for risk and compliance management, organizations worldwide are adopting speech analytics to help retain existing customers, reduce the need for additional marketing, advertising, and on-boarding costs for acquiring new customers.

Moreover, speech analytics is gaining traction in the information technology (IT) and telecommunication sector to help organizations expand their consumer base and overall profits. Apart from this, several market players are providing economical, cloud-based solutions, which is anticipated to promote the adoption of speech analytics across small and medium-sized enterprises (SMEs) worldwide.

Key Questions Answered in This Report:

• How has the global speech analytics market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the global speech analytics market?
• What are the key regional markets?
• What is the breakup of the market based on the type?
• What is the breakup of the market based on the deployment?
• What is the breakup of the market based on the enterprise size?
• What is the breakup of the market based on the end use?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the global speech analytics market and who are the key players?
• What is the degree of competition in the industry?

Key Topics Covered:

1 Preface

2 Scope and Methodology

3 Executive Summary

4 Introduction

4.1 Overview

4.2 Key Industry Trends

5 Global Speech Analytics Market

5.1 Market Overview

5.2 Market Performance

5.3 Impact of COVID-19

5.4 Market Forecast

6 Market Breakup by Type

7 Market Breakup by Deployment

8 Market Breakup by Enterprise Size

9 Market Breakup by End Use

10 Market Breakup by Region

11 SWOT Analysis

12 Value Chain Analysis

13 Porters Five Forces Analysis

14 Price Analysis

15 Competitive Landscape

15.1 Market Structure

15.2 Key Players

15.3 Profiles of Key Players

For more information about this report visit https://www.researchandmarkets.com/r/5bkc9i