Speech Analytics Market Trends, Developments, Challenges and Opportunities

1
2022
Speech Analytics Market Opportunities, Companies
and Trends in Coming Years
2
The ballooning focus of businesses on customer
satisfaction is boosting the demand for speech
analytics solutions across the world. Due to the
establishment of numerous companies and
businesses in the last few years, people have
become spoilt for choice and as a result, are no
longer loyal to only one particular brand.
Moreover, people are nowadays more likely than
ever to change their brand preferences if they
face too many service-related issues, instead of
product- or price-related ones. Apart from the
above-mentioned factor, the rising requirement
for adherence to compliance regulations is also
pushing up the adoption of speech analytics
solutions by organizations across the world. At
present, the compliance regulations are
consistently being updated for protecting
consumer rights. As a result, organizations and
businesses are required to stay updated all the
time on various regulations such as the Fair
Credit Reporting Act (FCRA) and the Telephone
Consumer Protection Act (TCPA). Request to Get
the Sample Report https//www.psmarketresearch.co
m/market-analysis/speech-analytics-market/report-s
ample
3
The speech analytics solutions have the ability
to automatically analyze and monitor calls as per
the mandatory regulations and eliminate the risk
of lawsuits and fines associated with the
non-compliance of these regulations. Because of
these factors, the popularity of speech analytics
solutions is growing rapidly all over the world.
This is, in turn, propelling the growth of the
global speech analytics market, with the market
value predicted to surge from 1,010.4 million to
2,910.1 million from 2018 to 2024. Between the
speech analytics solutions and services, the
demand for the former was found to be higher in
the past years. This was because of the
large-scale usage of speech analytics solutions
in various industries for monitoring the
performance of agents and enhancing the customer
service. In the future years, the demand for
speech analytics services would rise rapidly,
mainly on account of the growing requirement for
the integration, implementation, and consultation
services associated with these solutions across
the world. Geographically, the North American
speech analytics market was observed to be the
most lucrative one in the years gone by. This was
because of the presence of an expanding service
industry and numerous contact centers in this
region, that are outsourced and managed by speech
analytics solutions. The existence of several big
industries, huge IT spending, and rapid
technological advancements are the other factors
that pushed up the adoption of these solutions in
this region in the past.
4

• In the forthcoming years, the demand for speech
  analytics software would rise rapidly in the
  Asia-Pacific (APAC) region, as per the forecast
  of PS Intelligence, a market research firm based
  in India. This would be a result of the soaring
  investments being made in the IT sector in the
  developing nations of APAC such as India and
  China and the rapid establishment of numerous
  contact centers in many regional countries.
• Hence, it can be said without any hesitation that
  the demand for speech analytics solutions would
  skyrocket all over the world in the upcoming
  years, primarily because of the growing
  requirement for advanced technologies that can
  help businesses improve their customer service
  and customer satisfaction in many countries
  around the world.
• More Related Reports By PS Intelligence
• Product Analytics Market Segments, Share,
  Application, Development, Growing Demand, and Top
  Key Players
• Performance Analytics Market Share, Size, Future
  Demand, Top Leading player, and Emerging Trends

5

• Market Segmentation by Offering
• Solution
• Service
• Professional
• Managed
• Market Segmentation by Deployment Type
• On-Premises
• Cloud
• Market Segmentation by Enterprise Size
• Large Enterprise
• Small Medium Enterprise (SME)

6

• Market Segmentation by Application
• Customer Experience Management
• Call Monitoring
• Agent Performance Monitoring
• Risk Compliance Management
• Others (including Quality Management and
  Competitive Intelligence)
•  
• Market Segmentation by Industry
•  
• Banking, Financial Services, and Insurance (BFSI)
• Hospitality
• Information Technology (IT) Telecom
• Healthcare
• Media Entertainment
• Manufacturing
• Government
• Retail
• Others (including Automotive, Oil Gas, Energy
  Utilities, and Logistics)

7

• Market Segmentation by Geography
• North America Speech Analytics Market
• By offering
• By deployment type
• By enterprise size
• By application
• By industry
• By country U.S. and Canada
• Europe Speech Analytics Market
• By offering
• By deployment type
• By enterprise size
• By application
• By industry
• By country Germany, U.K., France, Italy, Spain,
  and Rest of Europe

8

• Asia-Pacific (APAC) Speech Analytics Market
• By offering
• By deployment type
• By enterprise size
• By application
• By industry
• By country China, Japan, India, South Korea,
  and Rest of APAC
• Latin America (LATAM) Speech Analytics Market
• Brazil, Mexico, and Rest of LATAM
• Middle East Africa (MEA) Speech Analytics
  Market
• By offering
• By deployment type
• By enterprise size
• By application
• By industry
• By country Turkey, U.A.E., South Africa, Saudi
  Arabia, and Rest of MEA

9
This study covers 1. Historical and the present
size of the Speech Analytics Market 2. Historical
and the present size of the market segments and
understand their comparative future
potential 3. Potential of on-demand logistics
services, so the market players make informed
decisions on the sales of their
offerings 4. Competitive scenario of various
market segments across key countries in several
regions for uncovering market opportunities for
the stakeholders 5. Major players operating in
the market and their service offerings
10
Disclaimer PS Intelligence always keeps its
customers interests at the core while carrying
out research activities. PS Intelligence ensures
the reliability and accuracy of information and
data provided in its market research
publications. However, the information in
publications is subject to fluctuations, as it is
based on primary interviews of officials from
various companies or organizations. PS
Intelligence is not responsible for any incorrect
data provided by the key industry players of the
concerned domain. the information or analysis in
PS Intelligence publications represents opinions
based on research and should not be interpreted
as statements of fact. Information in this report
was believed to be correct at the time of
publication, but cannot be guaranteed. PS
Intelligence does not endorse any product,
service, or vendor depicted in its research
publications. All intellectual properties,
including trademarks and copyrights, belong to
their respective owners and may be protected by
copyright. Under no circumstance can these be
reproduced in any form without prior written
agreement of their owners. An order for market
research report is intended for internal use of
the company only and not for disclosure to third
parties or any other publication in general. No
service, report, or part thereof provided by PS
Intelligence can be reproduced, republished,
resold, revealed, distributed, circulated, or
sublicensed in any medium or form now realized or
hereafter become realized, including but not
limited to, all forms of optical-based media,
magnetic, electronic, or digital, without a
written permission from Prescient Strategic
Intelligence Pvt. Ltd.