Speech Analytics Market by Component (Hardware, Solutions), Type (Post-Call Speech Analytics, Real-Time Speech Analytics), Organization Size, Deployment, End-Use - Global Forecast 2024-2030

Speech Analytics Market by Component (Hardware, Solutions), Type (Post-Call Speech Analytics, Real-Time Speech Analytics), Organization Size, Deployment, End-Use - Global Forecast 2024-2030

The Speech Analytics Market size was estimated at USD 2.84 billion in 2023 and expected to reach USD 3.30 billion in 2024, at a CAGR 16.60% to reach USD 8.34 billion by 2030.

Global Speech Analytics MarketSpeech analytics extracts meaning from audio recordings and analyzes that data for relevant and meaningful business intelligence. Speech analytics enables businesses to extract all hidden visions from customer conversations, allowing them to understand better customer wants and successfully anticipate changing customer needs. As organizations manage an ever-increasing number of customer interactions across industries, speech analytics is rapidly accelerating. Business Process Outsourcing (BPO) services increasingly utilize these solutions for improved performance and client retention in healthcare, banking & finance. However, the high cost and limited availability of skilled professionals remain significant barriers to adopting speech analytics. Moreover, integrating advanced algorithms to enhance the capabilities and achieve real-time actionable insights creates immense opportunities for deploying speech analytics systems and solutions worldwide.Regional InsightsThe speech analytics market is highly evolving in the Americas owing to its high adoption rate of new advanced technologies, such as IoT, wearable technology, smart self-service interactive machines, and enhancing customer satisfaction. The growing focus of the companies to retain customers and improve customer service is expanding the use of speech analytics in the various countries in the APAC and EMEA region. Additionally, the rising demand for risk and compliance management across different verticals and the increasing number of contact centers worldwide have resulted in innovative solutions that help companies understand the changing customer requirements. The increasing pressure on businesses to protect their intellectual assets is expected to accelerate the adoption of speech analytics solutions for improving agility and efficiency in their operations through extensive insights.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Speech Analytics Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Speech Analytics Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Speech Analytics Market, highlighting leading vendors and their innovative profiles. These include 3CLogic Inc., Almawave S.p.A. by AlmavivA S.p.A., Alvaria, Inc., Amazon.com, Inc., Audio Analytic Ltd., Aural Analytics, Inc., Avaya Inc., BATVOICE TECHNOLOGIES, Business Systems (UK) Ltd, Calabrio, Inc., CallMiner, Inc., CallTrackingMetrics LLC, Castel Communications LLC, CloudTalk, Contact Cubed, LLC, Daisee Pty Ltd., Deepgram, Inc., Delacon Pty Ltd., Dialpad, Inc., Enghouse Systems Limited, Enthu.AI, Five9, Inc. by Zoom Video Communications, Inc., Genesys Cloud Services, Inc., Gnani Innovations Private Limited, Google LLC by Alphabet Inc., Intelligent Voice Ltd., Invoca, Inc., Kwantics, Marchex, Inc., Medallia, Inc., NeoSound Intelligence B.V., NICE Ltd., Observe.AI, Open Text Corporation, Ozonetel Communications Pvt Ltd., Picovoice Inc., Qualtrics LLC by SAP SE, Salesken Pvt. Ltd., Speech-i Limited by CEDAT85 SRL, Talkdesk, Inc., TATWA Technologies Ltd., Tethr, TTEC Holdings, Inc., Uniphore Technologies Inc., Verint Systems, Inc., VoiceBase, Inc., VoiceBase, Inc. by LivePerson, Inc., Vonage Holdings Corp., WinterLight Labs by Cambridge Cognition Limited, and Xdroid.

Market Segmentation & Coverage



This research report categorizes the Speech Analytics Market to forecast the revenues and analyze trends in each of the following sub-markets:

Component
Hardware
Solutions
Indexing & Query Tools
Quality Management
Reporting & Visualization Tools
Root Cause Analysis
Speech Engine
Type
Post-Call Speech Analytics
Real-Time Speech Analytics
Organization Size
Large Enterprises
Small & Medium Enterprises
Deployment
On-Cloud
On-Premise
End-Use
Banking, Financial Services, & Insurance
Education
Government & Public Sector
Healthcare & Life Sciences
IT & Telecommunications
Manufacturing
Retail & Consumer Goods
Transportation & Logistics
Travel & Hospitality
Region
Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas
Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam
Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.
2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Speech Analytics Market?
2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Speech Analytics Market?
3. What are the technology trends and regulatory frameworks in the Speech Analytics Market?
4. What is the market share of the leading vendors in the Speech Analytics Market?
5. Which modes and strategic moves are suitable for entering the Speech Analytics Market?

Note: PDF & Excel + Online Access - 1 Year