According to a new market research report, “Speech Analytics Market by Type (Solutions (Speech Engine, Indexing, Analysis and Query Tools, and Dash Boards and Reporting Tool) and Services), by Deployment Type (On- Remise, Cloud), by Organization Size, by Vertical, & by Region – Global Forecast to 2020”, published by MarketsandMarkets, the market size is estimated to grow from USD 589.2 Million in 2015 to USD 1.60 Billion by 2020, at an estimated Compound Annual Growth Rate (CAGR) of 22.0% from 2015 to 2020.
Browse 66 market data Tables and 25 Figures spread through 145 Pages and in-depth TOC on“Speech Analytics Market“
Early buyers will receive 10% customization on this report.
The speech analytics technology is witnessing the rising demand due to the need to decipher hidden insights from the customer interaction data. Rising number of contact centers, importance of customer feedback, need for Customer Relationship Management (CRM), product development, increasing competition among organizations, and stringent compliance management are some of the factors deriving the demand of speech analytics solutions and services.
Speech analytics solutions are expected to show positive trends during the forecast period
The speech analytics solutions are expected to dominate the market from 2015 to 2020, with larger market share than the service segment, due to growing trends of analytical insights from customer interaction data. Furthermore, due to future saturation in the solution segment in the developed economies and variation in global governmental customer protection norms and regulations, demand for professional services is expected to gain traction in the next five years.
Telecom, IT, and outsourcing segment to contribute maximum market share
The telecom, IT and outsourcing segment is expected to contribute the largest market share in the Speech Analytics Market in 2015. The travel and hospitality segment is expected to grow at a rapid rate from 2015 to 2020 in the Speech Analytics Market. The market is also projected to witness growth in the BFSI and retail & consumer goods segment during the forecast period.
Request a sample copy: http://www.marketsandmarkets.com/requestsample.asp?id=17297779
North America expected to contribute the largest market share
North America is expected to have the largest market share and dominate the Speech Analytics Market from 2015 to 2020, due to the presence of a large number of analytics vendors headquartered in the U.S. Asia-Pacific (APAC) offers potential growth opportunities, as the region is witnessing rise in technology penetration and larger investments in contact centers that are turning towards speech analytics solutions to efficiently gain insights from customer interaction data.
The major vendors in The Speech Analytics Market include Interactive Intelligence Group, NICE Systems, Verint Systems, Avaya, Genesys, Hewlett-Packard Enterprise, inContact, Calabrio, CallMiner, and ClaraBridge, along with others. The report also includes Key Innovators in the market, such as Almawave, Nexidia, Voci Technologies, and ZOOM International, among others.
The report covers detailed information regarding the major factors influencing the growth of the Speech Analytics Market, such as drivers, restraints, challenges, and opportunities. A detailed analysis of the key industry players has been done to provide insights into their business overview, products and services, key strategies, new product launches, mergers and acquisitions, partnerships, agreements, collaborations, and recent developments associated with the Speech Analytics Market.
Browse Related Reports
Cognitive Computing Market by Technology (Natural Language Processing, Machine Learning, Automated Reasoning), by Deployment Model (On-Premises, Cloud) & by Regions – Global Forecast to 2019
Natural Language Processing Market by Type (Rule-Based, Statistical, and Hybrid), Technologies (Recognition, IVR, OCR, Pattern & Image Recognition) – Worldwide Forecast to 2020
MarketsandMarkets is the world’s No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors.
M&M’s flagship competitive intelligence and market research platform, “RT” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India
Visit MarketsandMarkets Blog @ http://www.marketsandmarketsblog.com/market-reports/telecom-it
Connect with us on LinkedIn @ http://www.linkedin.com/company/marketsandmarkets