Press Release

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"

 

https://www.techsciresearch.com/report/global-speech-analytics-market/2161.html

 

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.

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