Voice Analytics Market Size and Share Outlook - Forecast Trends and Growth Analysis Report (2025-2034)

The global voice analytics market value reached USD 1.13 billion in 2024. The voice analytics market is further expected to grow at a CAGR of around 15.80% in the forecast period of 2025-2034 to reach a value of nearly USD 4.90 billion by 2034.

Global Voice Analytics Market Growth

Voice analytics enables users to analyse the emotions and intentions of speakers by analysing recordings or conversations. The audio patterns are analysed for certain features such as tonality, stress, speed, pitch, and rhythm. This helps to improve client satisfaction as competitive intelligence decreases customer dissatisfaction through the identification of problematic clients and detects threats and fraud.

Key Trends and Developments

Growing applications of voice analytics in call centres; rising demand for cloud-based voice analytics; integration of voice analytics with IoT devices; and technological advancements are favouring the voice analytics market expansion.

February 2025

Smarsh® acquired CallCabinet, a pioneer in cloud-native compliance call recording and analytics technology. Through the acquisition, the company aims to provide customers with AI-powered voice analytics, robust compliant audio recording, and an end-to-end digital communications and intelligence platform.

December 2024

Forward Auto Group LLC announced the launch of its voice analytics software to optimise sales and customer service for its clients. Key features of the software include participation identification, employee speech analysis, conversion evaluation, standards compliance monitoring, and sales stage compliance, among others, to drive sales and enhance employee professionalism.

November 2023

Google, along with Symphony, launched a voice analytics offering to help banks retain and flag suspicious discussions. The messaging compliance tool combines Vertex AI, with Symphony’s AI and domain expertise to provide sophisticated speech-to-text and natural language processing capabilities.

May 2021

TCN, Inc. announced the launch of its Voice Analytics, its set of advanced tools for search and discovery, combined with automated call transcription and reduction. The tools include a highly flexible search engine for rapidly finding and retrieving calls through free-form combinations of call metadata, phrases, keywords, and acoustic measures.

Increasing applications of voice analytics in call centres

In call centres, voice analytics tools and solutions are extensively used to automate transcription process, detect compliance breaches, measure immediate customer response, facilitate targeted problem-solving, and provide data-driven insights into potential product enhancements. The growing focus of call centres to improve customer experience and optimise workforce is driving the voice analytics market growth.

Rising popularity of cloud-based voice analytics

There is a rising popularity of cloud-based voice analytics solutions due to their flexibility, scalability, remote access and collaboration, and low operational costs. Cloud-based voice analytics solutions also boast frequent improvements and updates, enable real-time data processing, and are equipped with robust security measures, boosting their preference among businesses operating in major end-use sectors, ranging from healthcare to finance.

Integration of voice analytics with IoT devices

With the increasing prevalence of the Internet of things, voice analytics is increasingly integrated into IoT devices such as wearables, smart speakers, and smart homes to provide more targeted recommendations and personalised services to customers.

Technological advancements

Advancements in speech and emotion recognition technology aimed at improving the interpretation and transcription of spoken language and enabling more accurate speech-to-text conversion are revolutionising the voice analytics market landscape. Moreover, the development of AI-powered sentiment analysis tools to detect emotional cues in speech and personalise customer interactions is anticipated to fuel the market in the coming years.

Global Voice Analytics Market Analysis

The demand for the voice analytics market is boosted by its ability to offer several advantages, such as deeper customer insights from detailed sentiment and behaviour analysis, increased operational efficiency through automated interaction analysis, and enhanced compliance and risk management by identifying regulatory issues.

The voice analytics market dynamics and trends are being driven by its ability to enhance sales and marketing effectiveness through the identification of customer trends and to improve employee performance via targeted training and development informed by interaction metrics. These advantages help businesses tailor their services, streamline operations, and optimise both customer and employee experiences.

Voice Analytics Industry Outlook

According to the ITU, India's mobile wireless telecom customer base expanded to 1.14 billion in 2022, up from 886.3 million in 2013, with a compound annual growth rate (CAGR) of 2.9%. This growth is noteworthy in the context of the global telecom markets. China led the market with 1.78 billion wireless telecom customers in 2022, showing a CAGR of 4.2% from 1.22 billion in 2013. The United States experienced a growth from 310.7 million to 372.7 million wireless telecom customers during the same period, with a CAGR of 2.0%. Thailand's telecom customer base increased from 93.8 million in 2013 to 126.4 million in 2022, achieving a CAGR of 3.4%.

Similarly, South Africa saw growth from 76.9 million to 100.3 million wireless telecom customers, with a CAGR of 3.0%. This growth in the telecom industry indicates that telecom companies are increasingly using voice analytics to monitor and improve customer service, thereby boosting the growth of the voice analytics market revenue.

Provides deep analysis of customer sentiments and behaviours, leading to improved service personalisation and customer satisfaction.

• Automates data analysis, reducing manual effort and identifying improvement areas swiftly.
• Helps businesses monitor and ensure compliance with regulations by detecting potential violations in conversations.

Initial setup and integration of voice analytics systems can be expensive for businesses.

• Handling sensitive voice data raises privacy and security issues.
• Requires specialised skills and training to effectively interpret and utilise analytics.

Increasing adoption of AI and data analytics across sectors expands opportunities in the voice analytics market.

• Continuous improvements in AI and machine learning enhance voice analytics capabilities.
• New use cases in customer service, security, and compliance offer growth avenues.

Evolving data protection regulations could impact how voice data is collected and used.

• A rising number of competitors may drive down prices and affect profit margins.
• Compatibility issues with existing systems can hinder adoption and effectiveness.

Key Players in the Global Voice Analytics Market and Their Key Initiatives

Calabrio, Inc.

• Launched Insights, an advanced AI-powered business intelligence tool.
• Introduced an AI-powered Interaction Summary feature to meet the growing demand of the voice analytics market.

Thoughtspot Inc.

• Expanded partnerships with Google Cloud.
• Introduced ThoughtSpot Sage.

VoiceSense Ltd.

• Launched advanced acoustic analysis tools for remote customer interaction monitoring.
• Introduced real-time predictive analytics for HR.

Uniphore Technologies Inc.

• Secured $400 million Series E funding.
• Launched U-Self Serve to capture the voice analytics market opportunities.

Global Voice Analytics Industry Segmentation

“Global Voice Analytics Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:

Market Breakup by Component

• Software
• Services

Market Breakup by Type

• Cloud
• On-Premises

Market Breakup by Organisation Size

• Small and Medium Sized - Enterprises
• Large Enterprises

Market Breakup by End Use

• Banking, Financial Services, and Insurance
• Retail and E-Commerce
• Telecommunication
• Healthcare
• Government and Defence
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Voice Analytics Market Share

The growth of the voice analytics industry is being driven by several factors. Cloud-based voice analytics offers scalability for managing large data volumes, remote accessibility from anywhere, and cost efficiency through subscription-based pricing. It also includes automatic updates and strong disaster recovery features, improving data protection and business continuity.

On-premises voice analytics provides enhanced control over data security and privacy, customizable solutions for specific needs, and potentially faster data processing. It also facilitates compliance with regulatory requirements and integrates smoothly with existing IT infrastructure and legacy systems, further fuelling voice analytics market demand.

Leading Companies in the Voice Analytics Market

Key voice analytics market players are focusing on technological advancements to improve the depth and accuracy of voice recognition, emotion detection, and sentiment analysis. Voice analytics companies are also attempting to integrate voice analytics with other business systems such as workforce optimisation tools, customer relationship management (CRM), and customer experience (CX) platforms to improve agent performance, enhance customer engagement, and streamline operations.

Calabrio, Inc.

Calabrio, Inc., headquartered in Minnesota, United States, and founded in 2007, is a company that provides services to support companies enhance and streamline workforce management and customer service operations. Its Calabrio ONE software enables organisations to unite agent engagement, workforce optimisation, and business intelligence solutions into a fully integrated suite.

Thoughtspot Inc.

Thoughtspot Inc., headquartered in California, United States, and founded in 2012, is an AI-powered analytics company that supports organisations to create personalised insights to drive decision-making. The company’s intuitive natural language search enables users to generate answers from their business data from every point of decision. Its solutions and services are used by companies like Hilton Worldwide, Huel, Capital One, and NVIDIA, among others.

Vocalis Health, Inc.

Vocalis Health, Inc., founded in 2019 and headquartered in Massachusetts, United States, is a developer of AI-based platform that employs voice analysis to evaluate the health status of an individual. The company was formed by the merger of Healthymize and Beyond Verbal, two early-stage Israeli AI health technology companies and its products are cleared by the FDA and CE.

VoiceSense Ltd.

VoiceSense Ltd., headquartered in Tel Aviv, Israel, is a company that specialises in predictive and behavioural speech analytics. It also provides personalised prediction about a person’s behaviour for use in fields such as human capital recruiting and retention, risk management, sales conversion, and healthcare, among others.

Other key players in the voice analytics market include Uniphore Technologies Inc, VoiceBase, Inc., Talkdesk, Inc., Verint Systems Inc, and NICE Ltd., among others.