Speech Analytics Market to Grow at 10% CAGR until 2025
Growing significance of voice in
multi-channel world and increasing number of contact centers to drive global speech
analytics market
According to
TechSci Research report, “Global Speech
Analytics Market By Component, By Deployment, By Organization Component, By
Application, By End-user, By Region, Competition, Forecast & Opportunities,
2025”, the global speech analytics market is projected
to grow at more than 10% during 2020 - 2025 on account of increasing adoption
of analytical solutions by agencies and corporates across the globe. However, high investment cost and complex technology
integration tend to negatively impact the market growth. Moreover, integrating
speech analytic tools with predictive analytics is expensive and further
restricts the growth of market.
Browse 166 market data Tables and Figures spread through 125 Pages and an in-depth TOC on " Global Speech Analytics Market"
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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 segments. The
services segment is expected to dominate the market over the next few years. Based
on deployment, the market is segmented into cloud and on-premises segments. The
cloud segment accounted for the majority of the market share in 2019 and the
segment is expected to witness faster growth rate compare to the on-premises
segment during the forecast period.
ASC Technologies,
Avaya Inc, Calabrio, Inc., Call Miner, Clarabridge, GemaTech Ltd, Genesys, New
Voice Media, Nice Systems, OnviSource, Inc and Verint are among the leading
players operating in the global speech analytics market. Major companies are developing advanced
technologies and launching new services in order to stay competitive in the
market. Companies operating in the market are using organic strategies such as
product launches, etc., as well as looking into mergers and collaborations to
boost their market share.
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“In 2019, North
America dominated the
global speech analytics market. However, over the forecast period, Europe and
APAC are expected to witness higher growth. In APAC specifically, the speech
analytics market is anticipated to grow at a robust pace majorly in India,
China, Japan, Philippines and South Korea over the course of next five years.” said Mr. Karan
Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Global Speech Analytics Market By Component, By
Deployment, By Organization Component, By Application, By End-user, By Region,
Competition, Forecast & Opportunities, 2025”, has evaluated
the future growth potential of global speech analytics market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in global speech analytics market.
Contact
Mr. Ken Mathews
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Tel: +1-646-360-1656
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