Speech Analytics Trends and Forecast
The future of the global speech analytics market looks promising with opportunities in the BFSI, IT and telecommunication, retail, healthcare, government, and hospitality markets. The global speech analytics market is expected to reach an estimated $6.5 billion by 2030 with a CAGR of 16.8% from 2024 to 2030. The major drivers for this market are rising interest in customer insights, developments in natural language processing and artificial intelligence, and growing demand for improved customer experience and risk mitigation.Speech Analytics by Segment
The study includes a forecast for the global speech analytics by type, deployment, enterprise size, end use industry, and region.Speech Analytics Market by Type [Shipment Analysis by Value from 2018 to 2030]
- Solution
- Service
Speech Analytics Market by Deployment [Shipment Analysis by Value from 2018 to 2030]
- On-Premises
- Cloud-Based
Speech Analytics Market by Enterprise Size [Shipment Analysis by Value from 2018 to 2030]
- Small and Medium Enterprises
- Large Enterprises
Speech Analytics Market by End Use Industry [Shipment Analysis by Value from 2018 to 2030]
- BFSI
- IT and Telecommunication
- Retail
- Healthcare
- Government
- Hospitality
- Others
Speech Analytics Market by Region [Shipment Analysis by Value from 2018 to 2030]
- North America
- Europe
- Asia Pacific
- The Rest of the World
List of Speech Analytics Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies speech analytics companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the speech analytics companies profiled in this report include-- Almawave
- ASC Technologies
- Avaya
- Calabrio
- CallMiner
- Clarabridge
- GemaTech
- Genesys
- OnviSource
- Verint System
Speech Analytics Market Insights
The publisher forecasts that solution will remain the larger segment over the forecast period because it helps to manage the growing abundance of data and turn it into insights that can be put to use, and the solutions give businesses the ability to better serve customers by assisting them in seeing trends, understanding customer behavior, and identifying problems.North America will remain the largest region over the forecast period because of construction of a sophisticated telecommunications and information technology (IT) infrastructure, presence of several top international suppliers of speech analytics solutions in the area, together with their ongoing efforts to improve and innovate their products.
Features of the Global Speech Analytics Market
- Market Size Estimates: Speech analytics market size estimation in terms of value ($B).
- Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
- Segmentation Analysis: Speech analytics market size by various segments, such as by type, deployment, enterprise size, end use industry, and region in terms of value ($B).
- Regional Analysis: Speech analytics market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
- Growth Opportunities: Analysis of growth opportunities in different type, deployment, enterprise size, end use industry, and regions for the speech analytics market.
- Strategic Analysis: This includes M&A, new product development, and competitive landscape of the speech analytics market.
- Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the speech analytics market size?Answer: The global speech analytics market is expected to reach an estimated $6.5 billion by 2030.
Q2. What is the growth forecast for speech analytics market?
Answer: The global speech analytics market is expected to grow with a CAGR of 16.8% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the speech analytics market?
Answer: The major drivers for this market are rising interest in customer insights, developments in natural language processing and artificial intelligence, and growing demand for improved customer experience and risk mitigation.
Q4. What are the major segments for speech analytics market?
Answer: The future of the global speech analytics market looks promising with opportunities in the BFSI, IT and telecommunication, retail, healthcare, government, and hospitality markets.
Q5. Who are the key speech analytics market companies?
Answer: Some of the key speech analytics companies are as follows:
- Almawave
- ASC Technologies
- Avaya
- Calabrio
- CallMiner
- Clarabridge
- GemaTech
- Genesys
- OnviSource
- Verint System
Answer: The publisher forecasts that solution will remain the larger segment over the forecast period because it helps to manage the growing abundance of data and turn it into insights that can be put to use, and the solutions give businesses the ability to better serve customers by assisting them in seeing trends, understanding customer behavior, and identifying problems.
Q7. In speech analytics market, which region is expected to be the largest in next 5 years?
Answer: North America will remain the largest region over the forecast period because of construction of a sophisticated telecommunications and information technology (IT) infrastructure, presence of several top international suppliers of speech analytics solutions in the area, together with their ongoing efforts to improve and innovate their products.
Q.8 Do we receive customization in this report?
Answer: Yes,the publisher provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the speech analytics market by type (solution and service), deployment (on-premises and cloud-based), enterprise size (small and medium enterprises and large enterprises), end use industry (BFSI, IT and telecommunication, retail, healthcare, government, hospitality, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
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Table of Contents
1. Executive Summary
2. Global Speech Analytics Market: Market Dynamics
3. Market Trends and Forecast Analysis from 2018 to 2030
4. Market Trends and Forecast Analysis by Region from 2018 to 2030
5. Competitor Analysis
6. Growth Opportunities and Strategic Analysis
7. Company Profiles of Leading Players
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Almawave
- ASC Technologies
- Avaya
- Calabrio
- CallMiner
- Clarabridge
- GemaTech
Methodology
The analyst has been in the business of market research and management consulting since 2000 and has published over 600 market intelligence reports in various markets/applications and served over 1,000 clients worldwide. Each study is a culmination of four months of full-time effort performed by the analyst team. The analysts used the following sources for the creation and completion of this valuable report:
- In-depth interviews of the major players in the market
- Detailed secondary research from competitors’ financial statements and published data
- Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
- A compilation of the experiences, judgments, and insights of professionals, who have analyzed and tracked the market over the years.
Extensive research and interviews are conducted in the supply chain of the market to estimate market share, market size, trends, drivers, challenges and forecasts.
Thus, the analyst compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. The analyst then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process.
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