Report Description

The Europe Speech Analytics Market is anticipated to thrive in the forecast period 2024-2028. The use of speech analytics is becoming more significant due to growing globalization and distributed enterprise design. The usage of end-use devices like smartphones, laptops, and tablets is anticipated to increase in the market, broadening the reach of businesses and driving up the demand for speech analytics in Europe. The market is expanding as a result of rising client service investments, rising technology adoption, and rising IT budgets. Over the forecast period, it is anticipated that the growing usage of cloud-based and real-time speech analytics solutions in emerging economies will drive regional expansion.

The technique of deriving valuable information from audio recordings and using that information to gather useful business intelligence is known as speech analytics. Customer experience management, call monitoring and summarising, sales and marketing management, risk and compliance management, sentiment analysis, and fraud detection & security applications are some of the major uses of speech analytics. Due to expanding adoption across multiple industries, such as contact and call centers, healthcare and life sciences, and media and entertainment, speech analytics technologies are gaining traction.

Rising Contact Center is Anticipated to Propel the Market Growth

Due to the requirement to identify insights within the data of client interactions, speech analytics is in high demand in call centers. The expansion of contact centers is a key component in the market's expansion. For instance, Sestek, an enterprise that creates artificial intelligence-powered solutions using text-to-speech, speech recognition, natural language processing, and voice biometrics technologies. Sestek partnered with ING Bank with its speech analytics solution, which also led to a 10% increase in net promoter score, a 15% increase in sales quantity score, and a 3% decrease in overall over-silence rate. It is anticipated that the results attained by end-user business clients would increase demand for speech analytics in the European market.

Expanding Applications in the Financial and Commercial IT Industries

The use of speech biometrics for user authentication is expanding due to the growing need to combat fraud and improve security in the banking industry. Due to technological advancements and an increase in contact centers, which automate the analysis of recorded data and customer experience management, the telecom and IT sector is anticipated to grow. Additionally, suppliers are concentrating more and more on getting a competitive edge through mergers and acquisitions, partnerships, and collaboration. To improve its voice analytics, Nice Systems, a provider of sophisticated consumer analytics, acquired Nexidia. In addition to these inorganic tactics, businesses are spending enormous sums on R&D to improve the correctness of their products.

Increasing Voice's Significance in a Multichannel Environment

The majority of firms believe multi-channel interaction strategies to be standard. Many companies expand their capacity to connect with and communicate with clients by utilising social media platforms, desktop applications, mobile/text, and email communication channels. Speech analytics are becoming more widely known, outside of contact centers, as a result of all these factors. Speech analytics also enable businesses to automatically keep track of current and previous voice chats. The ensuing knowledge provides businesses with crucial data on a variety of topics, including market perceptions, process management, and product design, which in turn is sharply increasing the demand for speech analytics.


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Market Segmentation

The Speech Analytics market is segmented into Component, Deployment Mode, Organization Size, Application, and End-User. Based on Component, the market is segmented into Service, and Solution. Based on Deployment Mode, the market is segmented into Cloud, and On-Premises. Based on Organization Size, the market is divided into SMEs, and Large Enterprise. Based on Application, it is categorized into Call Monitoring, Customer Experience Management, Agent Performance Monitoring, Sales Performance Management, Competitive Intelligence, Risk and Compliance Management, and Others. Based on End-user, the market is segregated into BFSI, Government & Defense, Retail and eCommerce, Travel and Hospitality, Healthcare and Life Sciences, Energy and Utilities, Media and Entertainment, Travel and Hospitality, Telecommunications and IT, and Others.

Market Player

Major market players in the Europe Speech Analytics market are ASC Technologies, Avaya, Inc, Calabrio, Inc, Call Miner, Clarabridge, GemaTech Ltd, Genesys Telecommunications Laboratories, Inc., Telecommunications Laboratories, Inc.,, New Voice Media, Nice Systems, OnviSource, Inc

Recent Development

VoiceBase, an AI-powered voice analytics firm, announced a strategic alliance with ThoughtSpot, a search and AI-driven analytics platform, in October 2020. This partnership will revolutionize how businesses can quickly extract insights from their voice data using cutting-edge search capabilities. Through a partnership with ThoughtSpot, VoiceBase clients can give their business users the necessary tools to mine their speech, text, and other contact centre data for potent, contextual insights. Companies are no longer needed to invest times in training or rely on technical experts to extract useful, detailed insights from their speech data, thanks to the straightforward search interface. VoiceBase and ThoughtSpot have combined to make it simpler to search voice data, personalize and share these insights, and use them to affect the performance that has a positive impact in the performance.

Attribute

Details

Base Year

2022

Historic Data

2018 – 2021

Estimated Year

2023

Forecast Period

2024 – 2028

Quantitative Units

Revenue in USD Million and CAGR for 2018-2022 and 2024-2028

Report coverage

Revenue forecast, company share, growth factors, and trends

Segments covered

By Component

By Deployment Mode

By Organization Size

By Application

By End-User

Country scope

Germany, United Kingdom, Italy, France, Spain, Netherlands, Poland, Russia

Key companies profiled

ASC Technologies, Avaya, Inc, Calabrio, Inc, Call Miner, Clarabridge, GemaTech Ltd, Genesys Telecommunications Laboratories, Inc.,, New Voice Media, Nice Systems, OnviSource, Inc.

Customization scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

 

Report Scope:

In this report, the Europe Speech Analytics market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

·         Europe Speech Analytics Market, By Component

o   Service

o   Solution

·         Europe Speech Analytics Market, By Deployment Mode

o   Cloud

o   On-Premises

·         Europe Speech Analytics Market, By Organization Size

o   SMEs

o   Large Enterprise

·         Europe Speech Analytics Market, By Application

o   Call Monitoring

o   Customer Experience Management

o   Agent Performance Monitoring

o   Sales Performance Management

o   Competitive Intelligence

o   Risk and Compliance Management

o   Others

·         Europe Speech Analytics Market, By End-User

o   BFSI

o   Government & Defense

o   Retail and eCommerce

o   Travel and Hospitality

o   Healthcare and Life Sciences

o   Energy and Utilities

o   Media and Entertainment

o   Travel and Hospitality

o   Telecommunications and IT

o   Others

·         Europe Speech Analytics Market, By Country:

o   Germany

o   United Kingdom

o   Italy

o   France

o   Spain

o   Netherlands

o   Poland

o   Russia

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Europe Speech Analytics market.

Available Customizations:

Speech Analytics market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).
Europe Speech Analytics market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.     Service Overview

2.    Research Methodology

3.    Impact of COVID-19 on Europe Speech Analytics Market

4.    Executive Summary

5.    Voice of Customers

5.1.  Brand Awareness

5.2.  Factors Considered while Selecting Vendor

5.3.  Key Satisfaction Level

5.4.  Major Challenges Faced

5.5.  Technological Awareness

6.    Europe Speech Analytics Market Outlook

6.1.  Market Size & Forecast

6.1.1.     By Value

6.2.  Market Share & Forecast

6.2.1.     By Component (Service, Solution)

6.2.2.     By Deployment Mode (Cloud, On-Premises)

6.2.3.     By Organization Size (SMEs, Large Enterprise)

6.2.4.     By Application (Call Monitoring, Customer Experience Management, Agent Performance Monitoring, Sales Performance Management, Competitive Intelligence, Risk and Compliance Management, Others)

6.2.5.     By End-user (BFSI, Government & Defense, Retail and eCommerce, Travel and Hospitality, Healthcare and Life Sciences, Energy and Utilities, Media and Entertainment, Travel and Hospitality, Telecommunications and IT, Others)

6.2.6.     By Country

6.2.7.     By Company (2022)

6.3.  Market Map

7.    Germany Speech Analytics Market Outlook

7.1.  Market Size & Forecast

7.1.1.     By Value

7.2.  Market Share & Forecast

7.2.1.     By Component

7.2.2.     By Deployment Mode

7.2.3.     By Organization Size

7.2.4.     By Application

7.2.5.     By End-User

8.    United Kingdom Speech Analytics Market Outlook

8.1.  Market Size & Forecast

8.1.1.     By Value

8.2.  Market Share & Forecast

8.2.1.     By Component

8.2.2.     By Deployment Mode

8.2.3.     By Organization Size

8.2.4.     By Application

8.2.5.     By End-User

9.    Italy Speech Analytics Market Outlook

9.1.  Market Size & Forecast

9.1.1.     By Value

9.2.  Market Share & Forecast

9.2.1.     By Component

9.2.2.     By Deployment Mode

9.2.3.     By Organization Size

9.2.4.     By Application

9.2.5.     By End-User

10.  France Speech Analytics Market Outlook

10.1.              Market Size & Forecast

10.1.1.  By Value

10.2.              Market Share & Forecast

10.2.1.  By Component

10.2.2.  By Deployment Mode

10.2.3.  By Organization Size

10.2.4.  By Application

10.2.5.  By End-User

11.  Spain Speech Analytics Market Outlook

11.1.              Market Size & Forecast

11.1.1.  By Value

11.2.              Market Share & Forecast

11.2.1.  By Component

11.2.2.  By Deployment Mode

11.2.3.  By Organization Size

11.2.4.  By Application

11.2.5.  By End-User

12.  Netherlands Speech Analytics Market Outlook

12.1.              Market Size & Forecast

12.1.1.  By Value

12.2.              Market Share & Forecast

12.2.1.  By Component

12.2.2.  By Deployment Mode

12.2.3.  By Organization Size

12.2.4.  By Application

12.2.5.  By End-User

13.  Poland Speech Analytics Market Outlook

13.1.              Market Size & Forecast

13.1.1.  By Value

13.2.              Market Share & Forecast

13.2.1.  By Component

13.2.2.  By Deployment Mode

13.2.3.  By Organization Size

13.2.4.  By Application

13.2.5.  By End-User

14.  Russia Speech Analytics Market Outlook

14.1.              Market Size & Forecast

14.1.1.  By Value

14.2.              Market Share & Forecast

14.2.1.  By Component

14.2.2.  By Deployment Mode

14.2.3.  By Organization Size

14.2.4.  By Application

14.2.5.  By End-User

15.  Market Dynamics

15.1.  Drivers

15.1.1.  Rising Contact center is anticipated to propel the market growth

15.1.2.  Expanding applications in the financial and commercial IT industries

15.1.3.  Increasing Voice's Significance in a Multichannel Environment

15.2.  Challenges

15.2.1.  Huge Initial investment cost

15.2.2.  Complex technology system integration

16.  Market Trends & Developments

16.1.    Voice control over Internet of Things (IoT) devices

16.2.    Rise In Technological Development

16.3.    Government Initiatives

16.4.    Improving the customer experience

16.5.    Rising Investment

17.  Company Profiles

17.1.              ASC Technologies

17.1.1.  Business Overview

17.1.2.  Key Revenue and Financials

17.1.3.  Recent Developments

17.1.4.  Key Personnel

17.1.5.  Key Product/Services

17.1.6.  SWOT Analysis

17.2.  Avaya Inc

17.2.1.  Business Overview

17.2.2.  Key Revenue and Financials

17.2.3.  Recent Developments

17.2.4.  Key Personnel

17.2.5.  Key Product/Services

17.2.6.  SWOT Analysis

17.3.  Calabrio, Inc.

17.3.1.  Business Overview

17.3.2.  Key Revenue and Financials

17.3.3.  Recent Developments

17.3.4.  Key Personnel

17.3.5.  Key Product/Services

17.3.6.  SWOT Analysis

17.4.  Call Miner

17.4.1.  Business Overview

17.4.2.  Key Revenue and Financials

17.4.3.  Recent Developments

17.4.4.  Key Personnel

17.4.5.  Key Product/Services

17.4.6.  SWOT Analysis

17.5.  Clarabridge

17.5.1.  Business Overview

17.5.2.  Key Revenue and Financials

17.5.3.  Recent Developments

17.5.4.  Key Personnel

17.5.5.  Key Product/Services

17.5.6.  SWOT Analysis

17.6.  GemaTech Ltd

17.6.1.  Business Overview

17.6.2.  Key Revenue and Financials

17.6.3.  Recent Developments

17.6.4.  Key Personnel

17.6.5.  Key Product/Services

17.6.6.  SWOT Analysis

17.7.  Genesys Telecommunications Laboratories, Inc.,

17.7.1.  Business Overview

17.7.2.  Key Revenue and Financials

17.7.3.  Recent Developments

17.7.4.  Key Personnel

17.7.5.  Key Product/Services

17.7.6.  SWOT Analysis

17.8.  New Voice Media

17.8.1.  Business Overview

17.8.2.  Key Revenue and Financials

17.8.3.  Recent Developments

17.8.4.  Key Personnel

17.8.5.  Key Product/Services

17.8.6.  SWOT Analysis

17.9.  OnviSource, Inc.

17.9.1.  Business Overview

17.9.2.  Key Revenue and Financials

17.9.3.  Recent Developments

17.9.4.  Key Personnel

17.9.5.  Key Product/Services

17.9.6.  SWOT Analysis

17.10.            Nice Systems

17.10.1.                Business Overview

17.10.2.                Key Revenue and Financials

17.10.3.                Recent Developments

17.10.4.                Key Personnel

17.10.5.                Key Product/Services

17.10.6.                SWOT Analysis

18.  Strategic Recommendations

18.1.    Key focus on UK

18.2.    Key focus towards BFSI sector

19.  About Us & Disclaimer

Figures and Tables

Frequently asked questions

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ASC Technologies, Anaya, Inc., Calabrio, Inc, Call Miner, Clarabridge, GamaTech Ltd, Genesys Telecommunications Laboratories, Inc.,, New Voice Media, OnviSource, Inc, Nice Systems.

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The major market segments in the Speech Analytics are Component, Deployment Mode, Organization Size, Application, End-User.

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UK is the fastest-growing region in the Speech Analytics market due to developing IT industry and government initiative.

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Speech Analytics help to gain insights into customer-agent conversations through sentiment analysis, and topic trends.

profile

Sakshi Bajaal

Business Consultant
Press Release

Europe Speech Analytics Market to Grow at Impressive Rate through 2028

Jan, 2023

Increased development and upgrading of Speech Analytics software is expected to drive the market of the Europe Speech Analytics Market in the forecast period of 2024-2028.