Voice and Speech Analytics Market by End-users and Geography - Forecast and Analysis 2019-2023

  • Published: Sep 2019
  • Pages: 127
  • SKU: IRTNTR32095
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The global voice and speech analytics market has the potential to grow by USD 2.17 billion during 2019-2023, and the market’s growth momentum will accelerate throughout the forecast period.

This report provides a detailed analysis of the market by geography (APAC, Europe, MEA, North America, and South America) and end-users (large enterprise and small and medium-sized enterprise). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors including audEERING GmbH, Avaya Holdings Corp., Beyond Verbal, Invoca Inc., NICE Ltd., ThoughtSpot Inc., Uniphore Software Systems Pvt. Ltd., Verint Systems Inc., VoiceBase Inc., and VoiceSense Ltd.

Market Overview

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Market Competitive Analysis

The speech and voice analytics market is fragmented, and the degree of fragmentation will increase during the forecast period. Market vendors are adopting advanced technologies such as AI and predictive analytics to gain a competitive edge over other players. audEERING GmbH, Avaya Holdings Corp., and Beyond Verbal are some of the major market participants. Though the accelerating growth momentum will offer immense growth opportunities, the cost involved in setting up voice and speech analytics solutions will challenge the growth of the market participants. To increase their voice and speech analytics market share, companies should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this voice and speech analytics market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this voice and speech analytics market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of the increasing voice and speech analytics market size.

This speech and voice analytics market report provides information on the production, sustainability, and prospects of several leading voice and speech analytics companies, including:

  • audEERING GmbH
  • Avaya Holdings Corp.
  • Beyond Verbal
  • Invoca Inc.
  • NICE Ltd.
  • ThoughtSpot Inc.
  • Uniphore Software Systems Pvt. Ltd.
  • Verint Systems Inc.
  • VoiceBase Inc.
  • VoiceSense Ltd.

Voice and Speech Analytics Market: Segmentation by Region

Voice-and-Speech-Analytics-Market-Share-by-Region

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North America is one of the largest markets for voice and speech analytics, and the region will continue to offer the maximum growth opportunities to market vendors during the forecast period. The increasing demand for analytics solutions across end-user industries for making customer-centric decisions will be a significant factor contributing to the voice and speech analytics market growth in this region.

Over 36% of the market’s growth will originate from North America during the forecast period. The US is a key market for voice and speech analytics in North America. Speech and voice analytics market growth in this region will be slower than the growth of the market in other geographies.

Voice and Speech Analytics Market: Segmentation by End-users

Voice-and-Speech-Analytics-Market-Share-by-End-users

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Voice and speech analytics will allow large enterprises to identify and categorize customers through transcript data analysis. It can also help in automating and enhancing the existing processes of large organizations. The rising demand for quality assurance, increased compliance with regulations, and call quality assurance to identify training opportunities for customer service agents will drive the growth of the speech and voice analytics market in this segment.

Market growth in this segment will be faster than the growth of the market in the small and medium-sized enterprise segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the speech and voice analytics market size.

Voice and Speech Analytics Market: Key Drivers and Trends

The growth in emotion analytics will be a significant factor in driving the growth of the speech and voice analytics market. Enterprises across the world are increasingly adopting emotion analytics to enhance their productivity and profitability. Emotion analytics uses voice and speech analytics to understand the behavior of customers, based on which enterprises can make strategic business decisions. Voice and speech analytics analyze various factors to gauze the actual feelings and emotions of clients and customers towards a brand. As a result, businesses and enterprises can easily analyze if there is a disconnect between emotions that brands want to create and the experience of their customers. Emotion analytics comprising of vocal biomarkers and voice and speech analytics is widely used in the healthcare industry to provide personalized healthcare services and for remote monitoring of health and emotions of patients. With the increasing need for deeper knowledge about the consumer perception of brands, especially in competitive markets, the demand for emotion analytics and consequently voice and speech analytics will also grow during the forecast period.

  • The increasing integration of AI in voice and speech analytics will be one of the critical voice and speech analytics market trends contributing to market growth.
  • The real-time nature of data analysis makes the analysis of minute details of a conversation through conventional solutions difficult.
  • The integration of AI will enhance the efficiency of categorization of voice and speech data with machine learning.
  • AI-based voice and speech analytics automatically analyzes data, words, acoustics, and sentiments, and identifies hidden opinions and emotions.
  • AI integrated voice and speech analytics also provides comprehensive data categorization that will help in deriving critical insights in real-time, especially in the customer management domain.
  • The rising integration of AI will boost the popularity of voice and speech analytics and fuel the growth of the market during the next five years.
  • During 2019-2023, the voice and speech analytics market will grow at a CAGR of almost 18%.

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Voice and Speech Analytics Market: Key Highlights of the Report for the Forecast Period 2019-2023

  • CAGR of the market during the forecast period 2019-2023
  • Detailed information on factors that will accelerate the growth of the voice and speech analytics market during the next five years
  • Precise estimation of the global speech and voice analytics market worth and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the voice and speech analytics industry across the APAC, Europe, MEA, North America, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of voice and speech analytics companies 

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PART 01: EXECUTIVE SUMMARY

PART 02: SCOPE OF THE REPORT

  • 2.1 Preface
  • 2.2 Preface
  • 2.3 Currency conversion rates for US$

PART 03: MARKET LANDSCAPE

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

PART 04: MARKET SIZING

  • Market definition
  • Market sizing 2018
  • Market size and forecast 2018-2023

PART 05: FIVE FORCES ANALYSIS

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

PART 06: MARKET SEGMENTATION BY END-USER

  • Market segmentation by end-user
  • Comparison by end-user
  • Large enterprise - Market size and forecast 2018-2023
  • Small and medium-sized enterprise - Market size and forecast 2018-2023
  • Market opportunity by end-user

PART 07: CUSTOMER LANDSCAPE

PART 08: GEOGRAPHIC LANDSCAPE

  • Geographic segmentation
  • Geographic comparison
  • North America - Market size and forecast 2018-2023
  • Europe - Market size and forecast 2018-2023
  • APAC - Market size and forecast 2018-2023
  • South America - Market size and forecast 2018-2023
  • MEA - Market size and forecast 2018-2023
  • Key leading countries
  • Market opportunity

PART 09: DECISION FRAMEWORK

PART 10: DRIVERS AND CHALLENGES

  • Market drivers
  • Market challenges

PART 11: MARKET TRENDS

  • Growing use of AI integrated with voice and speech analytics
  • Proliferation of predictive analytics in voice and speech analytics
  • Increasing demand for monitoring employee emotions

PART 12: VENDOR LANDSCAPE

  • Overview
  • Landscape disruption
  • Competitive scenario

PART 13: VENDOR ANALYSIS

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • audEERING GmbH
  • Avaya Holdings Corp.
  • Beyond Verbal
  • Invoca Inc.
  • NICE Ltd.
  • ThoughtSpot Inc.
  • Uniphore Software Systems Pvt. Ltd.
  • Verint Systems Inc.
  • VoiceBase Inc.
  • VoiceSense Ltd.

PART 14: APPENDIX

  • Research methodology
  • List of abbreviations
  • Definition of market positioning of vendors

PART 15: EXPLORE TECHNAVIO

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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