Speech Analytics Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Speech Analytics Market
The Speech Analytics Market size was valued at USD 3.31 billion in 2022 and is projected to grow from USD 3.77 billion in 2023 to USD 10.37 billion in 2030 at a CAGR of 15.6% during the forecast period of 2024-2032.
The COVID-19 pandemic notably expanded the adoption of speech analytics throughout diverse sectors, particularly in customer support and faraway paintings environments. As businesses transitioned to virtual operations, the want for powerful communique tools have become paramount. Organizations sought to beautify purchaser interactions and worker engagement through superior analytics. This shift ended in expanded investment in technology to analyze consumer sentiment and comments, ultimately main to progressed service delivery. The pandemic underscored the significance of actual-time information analysis, making speech analytics a vital device for navigating the demanding situations of a unexpectedly changing marketplace panorama.
A outstanding fashion in the speech analytics market is the mixing of synthetic intelligence (AI) and device getting to know technology. These advancements allow for more state-of-the-art analysis of voice information, permitting corporations to gain deeper insights into consumer conduct and options. AI-powered speech analytics equipment can automatically transcribe conversations, come across emotional cues, and discover key topics, improving the capacity to tailor purchaser studies. This trend not only improves operational performance however also drives better choice-making, as agencies leverage the insights received from these technology to refine their strategies and foster stronger client relationships.
One of the number one driving elements in the back of the growth of the speech analytics market is the growing demand for superior patron enjoy. As competition intensifies across industries, corporations apprehend that understanding client sentiments and comments is vital for retaining and attracting customers. Speech analytics offers agencies with the capability to reveal purchaser interactions in actual-time, identify ache factors, and tailor services thus. This proactive approach to customer service no longer simplest boosts satisfaction but additionally results in higher purchaser loyalty and improved commercial enterprise results, making it a key driving force for funding in speech analytics solutions.
Comprehensive Analysis of Speech Analytics Market
The Speech Analytics Market growth is rising at an exponential rate due to its marketplace segmentation. This market expansion correctly affords a detailed local assessments thinking about the dominant supply and call for forces that effect the enterprise. These segmentations are methodically segregated by deployment, by application, by enterprise, by end user. By Deployment include Cloud, On-premise. By Application include Sentimental Analysis, Compliance Monitoring, Agent Performance Monitoring, Customer Experience Management, Others (Coaching and Social media analytics). By Enterprise Type include SMEs, Large Enterprise. By End-user include IT & Telecom, BFSI, Healthcare, Retail & E-commerce, Travel & Hospitality, Other (Government, Legal, and Automotive).
The North America location lead the Speech Analytics Market share percentage via benefitting a marketplace size of USD 10.37 billion It is expected to continue its dominance due to the growing adoption of Industry 4.0 and digital transformation, which has increased the demand for analytics solutions across the region.
The top players in the market play a crucial role in the industry assuring market growth and setting market standards. These players include, Google LLC (Alphabet, Inc.), Magic Leap, Inc., ReWalk Robotics, SAMSUNG, B-Temia, Panasonic Holdings Corporation, NVIDIA Corporation, Microsoft, Ekso Bionics, Vuzix,these market players provide a level-playing competitive landscape.
October 2023 - NICE obtained LiveVox, an AI-driven proactive issuer, to create a unified platform via combining all voice and virtual interactions, attended and unattended, inbound and outbound calling with clever conversational AI. The acquisition would integrate NICE’s platform CXone with LiveVox’s proactive outreach portfolio to enable the organizations to installation conversational AI throughout all kinds of engagements on a unified platform.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2017-2030
Base Year 2022
Estimated Year 2023
Forecast Period 2023-2030
Historical Period 2017-2021
Growth Rate CAGR of 15.6% from 2023 to 2030
Unit Value (USD billion)
Segmentation By Deployment
Cloud
On-premise
By Application
Sentimental Analysis
Compliance Monitoring
Agent Performance Monitoring
Customer Experience Management
Others (Coaching and Social media analytics)
By Enterprise Type
SMEs
Large Enterprise
By End-user
IT & Telecom
BFSI
Healthcare
Retail & E-commerce
Travel & Hospitality
Other (Government, Legal, and Automotive)
By Region
North America (By Deployment, Application, Enterprise Type, End-user, and Country)
U.S. (By End-user)
Canada (By End-user)
Mexico (By End-user)
South America (By Deployment, Application, Enterprise Type, End-user, and Country)
Brazil (By End-user)
Argentina (By End-user)
Rest of South America
Europe (By Deployment, Application, Enterprise Type, End-user, and Country)
U.K. (By End-user)
Germany (By End-user)
France (By End-user)
Italy (By End-user)
Spain (By End-user)
Russia (By End-user)
Benelux (By End-user)
Nordics (By End-user)
Rest of Europe
Middle East & Africa (By Deployment, Application, Enterprise Type, End-user, and Country)
Turkey (By End-user)
Israel (By End-user)
GCC (By End-user)
North Africa (By End-user)
South Africa (By End-user)
Rest of Middle East & Africa
Asia Pacific (By Deployment, Application, Enterprise Type, End-user, and Country)
China (By End-user)
India (By End-user)
Japan (By End-user)
South Korea (By End-user)
ASEAN (By End-user)
Oceania (By End-user)
Rest of Asia Pacific
Please Note: It will take 5-6 business days to complete the report upon order confirmation.
- 1. Introduction
- 1.1. Definition, By Segment
- 1.2. Research Methodology/Approach
- 1.3. Data Sources
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Macro and Micro Economic Indicators
- 3.2. Drivers, Restraints, Opportunities and Trends
- 3.3. Impact of COVID-19
- 4. Competition Landscape
- 4.1. Business Strategies Adopted by Key Players
- 4.2. Consolidated SWOT Analysis of Key Players
- 4.3. Global Speech Analytics Key Players Market Share/Ranking, 2022
- 5. Global Speech Analytics Market Size Estimates and Forecasts, By Segments, 2017-2030
- 5.1. Key Findings
- 5.2. By Deployment (USD)
- 5.2.1. Cloud
- 5.2.2. On-premise
- 5.3. By Application (USD)
- 5.3.1. Sentimental Analysis
- 5.3.2. Compliance Monitoring
- 5.3.3. Agent Performance Monitoring
- 5.3.4. Customer Experience Management
- 5.3.5. Others (Coaching, Social media analytics.)
- 5.4. By Enterprise Type (USD)
- 5.4.1. SMEs
- 5.4.2. Large Enterprise
- 5.5. By End-user (USD)
- 5.5.1. IT & Telecom
- 5.5.2. BFSI
- 5.5.3. Healthcare
- 5.5.4. Retail
- 5.5.5. Travel & Hospitality
- 5.5.6. Other (Government, Legal, Automotive.)
- 5.6. By Region (USD)
- 5.6.1. North America
- 5.6.2. Europe
- 5.6.3. Asia Pacific
- 5.6.4. Middle East & Africa
- 5.6.5. South America
- 6. North America Speech Analytics Market Size Estimates and Forecasts, By Segments, 2017-2030
- 6.1. Key Findings
- 6.2. By Deployment (USD)
- 6.2.1. Cloud
- 6.2.2. On-premise
- 6.3. By Application (USD)
- 6.3.1. Sentimental Analysis
- 6.3.2. Compliance Monitoring
- 6.3.3. Agent Performance Monitoring
- 6.3.4. Customer Experience Management
- 6.3.5. Others (Coaching, Social media analytics.)
- 6.4. By Enterprise Type (USD)
- 6.4.1. SMEs
- 6.4.2. Large Enterprise
- 6.5. By End-user (USD)
- 6.5.1. IT & Telecom
- 6.5.2. BFSI
- 6.5.3. Healthcare
- 6.5.4. Retail
- 6.5.5. Travel & Hospitality
- 6.5.6. Other
- 6.6. By Country (USD)
- 6.6.1. United States
- 6.6.1.1. By End-user
- 6.6.2. Canada
- 6.6.2.1. By End-user
- 6.6.3. Mexico
- 6.6.3.1. By End-user
- 7. Europe Speech Analytics Market Size Estimates and Forecasts, By Segments, 2017-2030
- 7.1. Key Findings
- 7.2. By Deployment (USD)
- 7.2.1. Cloud
- 7.2.2. On-premise
- 7.3. By Application (USD)
- 7.3.1. Sentimental Analysis
- 7.3.2. Compliance Monitoring
- 7.3.3. Agent Performance Monitoring
- 7.3.4. Customer Experience Management
- 7.3.5. Others (Coaching, Social media analytics.)
- 7.4. By Enterprise Type (USD)
- 7.4.1. SMEs
- 7.4.2. Large Enterprise
- 7.5. By End-user (USD)
- 7.5.1. IT & Telecom
- 7.5.2. BFSI
- 7.5.3. Healthcare
- 7.5.4. Retail
- 7.5.5. Travel & Hospitality
- 7.5.6. Other
- 7.6. By Country (USD)
- 7.6.1. United Kingdom
- 7.6.1.1. By End-user
- 7.6.2. Germany
- 7.6.2.1. By End-user
- 7.6.3. France
- 7.6.3.1. By End-user
- 7.6.4. Italy
- 7.6.4.1. By End-user
- 7.6.5. Spain
- 7.6.5.1. By End-user
- 7.6.6. Russia
- 7.6.6.1. By End-user
- 7.6.7. Benelux
- 7.6.7.1. By End-user
- 7.6.8. Nordics
- 7.6.8.1. By End-user
- 7.6.9. Rest of Europe
- 8. Asia Pacific Speech Analytics Market Size Estimates and Forecasts, By Segments, 2017-2030
- 8.1. Key Findings
- 8.2. By Deployment (USD)
- 8.2.1. Cloud
- 8.2.2. On-premise
- 8.3. By Application (USD)
- 8.3.1. Sentimental Analysis
- 8.3.2. Compliance Monitoring
- 8.3.3. Agent Performance Monitoring
- 8.3.4. Customer Experience Management
- 8.3.5. Others (Coaching, Social media analytics.)
- 8.4. By Enterprise Type (USD)
- 8.4.1. SMEs
- 8.4.2. Large Enterprise
- 8.5. By End-user (USD)
- 8.5.1. IT & Telecom
- 8.5.2. BFSI
- 8.5.3. Healthcare
- 8.5.4. Retail
- 8.5.5. Travel & Hospitality
- 8.5.6. Other
- 8.6. By Country (USD)
- 8.6.1. China
- 8.6.1.1. By End-user
- 8.6.2. India
- 8.6.2.1. By End-user
- 8.6.3. Japan
- 8.6.3.1. By End-user
- 8.6.4. South Korea
- 8.6.4.1. By End-user
- 8.6.5. ASEAN
- 8.6.5.1. By End-user
- 8.6.6. Oceania
- 8.6.6.1. By End-user
- 8.6.7. Rest of Asia Pacific
- 9. Middle East & Africa Speech Analytics Market Size Estimates and Forecasts, By Segments, 2017-2030
- 9.1. Key Findings
- 9.2. By Deployment (USD)
- 9.2.1. Cloud
- 9.2.2. On-premise
- 9.3. By Application (USD)
- 9.3.1. Sentimental Analysis
- 9.3.2. Compliance Monitoring
- 9.3.3. Agent Performance Monitoring
- 9.3.4. Customer Experience Management
- 9.3.5. Others (Coaching, Social media analytics.)
- 9.4. By Enterprise Type (USD)
- 9.4.1. SMEs
- 9.4.2. Large Enterprise
- 9.5. By End-user (USD)
- 9.5.1. IT & Telecom
- 9.5.2. BFSI
- 9.5.3. Healthcare
- 9.5.4. Retail
- 9.5.5. Travel & Hospitality
- 9.5.6. Other
- 9.6. By Country (USD)
- 9.6.1. Turkey
- 9.6.1.1. By End-user
- 9.6.2. Israel
- 9.6.2.1. By End-user
- 9.6.3. GCC
- 9.6.3.1. By End-user
- 9.6.4. North Africa
- 9.6.4.1. By End-user
- 9.6.5. South Africa
- 9.6.5.1. By End-user
- 9.6.6. Rest of MEA
- 10. South America Speech Analytics Market Size Estimates and Forecasts, By Segments, 2017-2030
- 10.1. Key Findings
- 10.2. By Deployment (USD)
- 10.2.1. Cloud
- 10.2.2. On-premise
- 10.3. By Application (USD)
- 10.3.1. Sentimental Analysis
- 10.3.2. Compliance Monitoring
- 10.3.3. Agent Performance Monitoring
- 10.3.4. Customer Experience Management
- 10.3.5. Others (Coaching, Social media analytics.)
- 10.4. By Enterprise Type (USD)
- 10.4.1. SMEs
- 10.4.2. Large Enterprise
- 10.5. By End-user (USD)
- 10.5.1. IT & Telecom
- 10.5.2. BFSI
- 10.5.3. Healthcare
- 10.5.4. Retail
- 10.5.5. Travel & Hospitality
- 10.5.6. Other
- 10.6. By Country (USD)
- 10.6.1. Brazil
- 10.6.1.1. By End-user
- 10.6.2. Argentina
- 10.6.2.1. By End-user
- 10.6.3. Rest of South America
- 11. Company Profiles for Top 10 Players (Based on data availability in public domain and/or on paid databases)
- 11.1. Verint Systems Inc.
- 11.1.1. Overview
- 11.1.1.1. Key Management
- 11.1.1.2. Headquarters
- 11.1.1.3. Offerings/Business Segments
- 11.1.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.1.2.1. Employee Size
- 11.1.2.2. Past and Current Revenue
- 11.1.2.3. Geographical Share
- 11.1.2.4. Business Segment Share
- 11.1.2.5. Recent Developments
- 11.2. NICE
- 11.2.1. Overview
- 11.2.1.1. Key Management
- 11.2.1.2. Headquarters
- 11.2.1.3. Offerings/Business Segments
- 11.2.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.2.2.1. Employee Size
- 11.2.2.2. Past and Current Revenue
- 11.2.2.3. Geographical Share
- 11.2.2.4. Business Segment Share
- 11.2.2.5. Recent Developments
- 11.3. Avaya
- 11.3.1. Overview
- 11.3.1.1. Key Management
- 11.3.1.2. Headquarters
- 11.3.1.3. Offerings/Business Segments
- 11.3.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.3.2.1. Employee Size
- 11.3.2.2. Past and Current Revenue
- 11.3.2.3. Geographical Share
- 11.3.2.4. Business Segment Share
- 11.3.2.5. Recent Developments
- 11.4. Genesys
- 11.4.1. Overview
- 11.4.1.1. Key Management
- 11.4.1.2. Headquarters
- 11.4.1.3. Offerings/Business Segments
- 11.4.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.4.2.1. Employee Size
- 11.4.2.2. Past and Current Revenue
- 11.4.2.3. Geographical Share
- 11.4.2.4. Business Segment Share
- 11.4.2.5. Recent Developments
- 11.5. Open Text Corporation
- 11.5.1. Overview
- 11.5.1.1. Key Management
- 11.5.1.2. Headquarters
- 11.5.1.3. Offerings/Business Segments
- 11.5.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.5.2.1. Employee Size
- 11.5.2.2. Past and Current Revenue
- 11.5.2.3. Geographical Share
- 11.5.2.4. Business Segment Share
- 11.5.2.5. Recent Developments
- 11.6. Uniphore
- 11.6.1. Overview
- 11.6.1.1. Key Management
- 11.6.1.2. Headquarters
- 11.6.1.3. Offerings/Business Segments
- 11.6.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.6.2.1. Employee Size
- 11.6.2.2. Past and Current Revenue
- 11.6.2.3. Geographical Share
- 11.6.2.4. Business Segment Share
- 11.6.2.5. Recent Developments
- 11.7. CallMiner
- 11.7.1. Overview
- 11.7.1.1. Key Management
- 11.7.1.2. Headquarters
- 11.7.1.3. Offerings/Business Segments
- 11.7.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.7.2.1. Employee Size
- 11.7.2.2. Past and Current Revenue
- 11.7.2.3. Geographical Share
- 11.7.2.4. Business Segment Share
- 11.7.2.5. Recent Developments
- 11.8. Talkdesk
- 11.8.1. Overview
- 11.8.1.1. Key Management
- 11.8.1.2. Headquarters
- 11.8.1.3. Offerings/Business Segments
- 11.8.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.8.2.1. Employee Size
- 11.8.2.2. Past and Current Revenue
- 11.8.2.3. Geographical Share
- 11.8.2.4. Business Segment Share
- 11.8.2.5. Recent Developments
- 11.9. Amazon Web Services, Inc.
- 11.9.1. Overview
- 11.9.1.1. Key Management
- 11.9.1.2. Headquarters
- 11.9.1.3. Offerings/Business Segments
- 11.9.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.9.2.1. Employee Size
- 11.9.2.2. Past and Current Revenue
- 11.9.2.3. Geographical Share
- 11.9.2.4. Business Segment Share
- 11.9.2.5. Recent Developments
- 11.10. LiveVox, Inc.
- 11.10.1. Overview
- 11.10.1.1. Key Management
- 11.10.1.2. Headquarters
- 11.10.1.3. Offerings/Business Segments
- 11.10.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.10.2.1. Employee Size
- 11.10.2.2. Past and Current Revenue
- 11.10.2.3. Geographical Share
- 11.10.2.4. Business Segment Share
- 11.10.2.5. Recent Developments
- 12. Key Takeaways
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