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North America Speech Analytics Market Size, Share, Analysis: By Type: Solution, Services; By Deployment Mode: On-Premises, Cloud; By Enterprise Size: Large Enterprises, Small and Medium Enterprises; By End-User: BFSI, Healthcare, Government, Retail, Telecommunications, Others; Regional Analysis; Competitive Landscape; 2024-2032
North America Speech Analytics Market Outlook
The North America speech analytics market size reached approximately USD 2.76 billion in 2023. The market is further projected to grow at a CAGR of 16.8% between 2024 and 2032, reaching a value of USD 11.33 billion by 2032.
Key Trends in the Market
Speech analytics refers to the process of extracting information from audio recordings and analysing the data for meaningful and relevant business intelligence. The different types of speech analytics include real time speech analytics and post-call speech analytics. It aids in increasing customer satisfaction, improving agent performance and resolution rates, and driving operational efficiency.
- The rising adoption of digital technologies across different sectors to provide regular availability of business communication channels, seamless self-service options, and rapid response to queries, among others is boosting the North America speech analytics market growth.
- Increasing efforts by the key market players towards product innovation along with strategic collaborations and partnerships is providing lucrative growth opportunities to the market. These efforts are anticipated to provide real time suggestions to customer service representatives for enhancing their performance and evaluating the results.
- The rising requirement for speech analytics by the telecommunications sector owing to the generation of large volumes of data is bolstering the market expansion. The increased adoption of speech analytics by the telecommunications sector can also be attributed to their ability to provide improved services, decrease fraud, and reduce risks, among others.
North America Speech Analytics Market Analysis
On the basis of type, the market is bifurcated into solution and services. Based on deployment mode, the market is divided into on-premises and cloud. On the basis of enterprise size, the market is segregated into large enterprises ad small and medium enterprises.
Based on end-user, the market is classified into BFSI, healthcare, government, retail, and telecommunications, among others. On the basis of country, the North America speech analytics market segmentation includes United States of America and Canada.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- Open Text Corporation
- Nice Ltd.
- Verint System Inc.
- Avaya LLC
- Castel Communications
- Talkdesk, Inc.
- Qualtrics LLC
- LivePerson, Inc. (VoiceBase, Inc.)
- Genesys Cloud Services, Inc.
- CallMiner Inc.
- Others
Market Share by Deployment Mode
Cloud is anticipated to account for a significant North America speech analytics market share over the forecast period. This growth can be attributed to the ability of the cloud-based speech analytics to aid in efficient consumer management across the customer life cycle, boosting profits. Cloud also ensures the accessibility across locations and devices while providing centralised data security and rapid application deployment.
Market Share by End-User
Telecommunications sector accounts for a significant share of the market owing to the rising requirement for accurate assessment of large amounts of data. The North America speech analytics market demand is also increasing due to the ability of the technology to assist in identifying potential dangers along with providing real time insights. Additionally, speech analytics also allows telecommunications companies to enhance their campaigns and business development.
Competitive Landscape
Open Text Corporation, headquartered in Waterloo, Canada, is involved in the development and sale of speech analytics and enterprise information management software. The company also specialises in customer experience management, digital experience, and customer communication management, among others.
Nice Ltd., headquartered in Ra'anana, Israel, specialises in artificial intelligence, speech analytics, digital and workforce engagement management solutions, and customer relations management software, among others. The company was founded in 1986.
Verint System Inc. is a leading IT services and consulting company that was founded in 1994 and is headquartered in New York, United States. The company specialises in speech analytics, boundless customer engagement, engagement management, artificial intelligence, and chatbots, among others.
Other North America speech analytics market key players include Avaya LLC, Castel Communications, Talkdesk, Inc., Qualtrics LLC, LivePerson, Inc. (VoiceBase, Inc.), Genesys Cloud Services, Inc., and CallMiner Inc., among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Deployment Mode |
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| Breakup by Enterprise Size |
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| Breakup by End-User |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Global Speech Analytics Market Overview
8.1 Key Industry Highlights
8.2 Global Speech Analytics Historical Market (2018-2023)
8.3 Global Speech Analytics Market Forecast (2024-2032)
8.4 Global Speech Analytics Market Share by Region
8.4.1 North America
8.4.2 Europe
8.4.3 Asia Pacific
8.4.4 Latin America
8.4.5 Middle East and Africa
9 North America Speech Analytics Market Overview
9.1 Key Industry Highlights
9.2 North America Speech Analytics Historical Market (2018-2023)
9.3 North America Speech Analytics Market Forecast (2024-2032)
10 North America Speech Analytics Market by Type
10.1 Solution
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Services
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
11 North America Speech Analytics Market by Deployment Mode
11.1 On-Premises
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Cloud
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
12 North America Speech Analytics Market by Enterprise Size
12.1 Large Enterprises
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Small and Medium Enterprises
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
13 North America Speech Analytics Market by End-User
13.1 BFSI
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Healthcare
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Government
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 Retail
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Telecommunications
13.5.1 Historical Trend (2018-2023)
13.5.2 Forecast Trend (2024-2032)
13.6 Others
14 North America Speech Analytics Market by Country
14.1 United States of America
14.1.1 Historical Trend (2018-2023)
14.1.2 Forecast Trend (2024-2032)
14.2 Canada
14.2.1 Historical Trend (2018-2023)
14.2.2 Forecast Trend (2024-2032)
15 Market Dynamics
15.1 SWOT Analysis
15.1.1 Strengths
15.1.2 Weaknesses
15.1.3 Opportunities
15.1.4 Threats
15.2 Porter’s Five Forces Analysis
15.2.1 Supplier’s Power
15.2.2 Buyer’s Power
15.2.3 Threat of New Entrants
15.2.4 Degree of Rivalry
15.2.5 Threat of Substitutes
15.3 Key Indicators of Demand
15.4 Key Indicators of Price
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Open Text Corporation
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Nice Ltd.
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Verint System Inc.
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Avaya LLC
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Castel Communications
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Talkdesk, Inc.
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Qualtrics LLC
16.2.7.1 Company Overview
16.2.7.2 Product Portfolio
16.2.7.3 Demographic Reach and Achievements
16.2.7.4 Certifications
16.2.8 LivePerson, Inc. (VoiceBase, Inc.)
16.2.8.1 Company Overview
16.2.8.2 Product Portfolio
16.2.8.3 Demographic Reach and Achievements
16.2.8.4 Certifications
16.2.9 Genesys Cloud Services, Inc.
16.2.9.1 Company Overview
16.2.9.2 Product Portfolio
16.2.9.3 Demographic Reach and Achievements
16.2.9.4 Certifications
16.2.10 CallMiner Inc.
16.2.10.1 Company Overview
16.2.10.2 Product Portfolio
16.2.10.3 Demographic Reach and Achievements
16.2.10.4 Certifications
16.2.11 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Speech Analytics Market: Key Industry Highlights, 2018 and 2032
2. North America Speech Analytics Market: Key Industry Highlights, 2018 and 2032
3. North America Speech Analytics Historical Market: Breakup by Solution (USD Billion), 2018-2023
4. North America Speech Analytics Market Forecast: Breakup by Solution (USD Billion), 2024-2032
5. North America Speech Analytics Historical Market: Breakup by Deployment Mode (USD Billion), 2018-2023
6. North America Speech Analytics Market Forecast: Breakup by Deployment Mode (USD Billion), 2024-2032
7. North America Speech Analytics Historical Market: Breakup by Enterprise Size (USD Billion), 2018-2023
8. North America Speech Analytics Market Forecast: Breakup by Enterprise Size (USD Billion), 2024-2032
9. North America Speech Analytics Historical Market: Breakup by End-User (USD Billion), 2018-2023
10. North America Speech Analytics Market Forecast: Breakup by End-User (USD Billion), 2024-2032
11. North America Speech Analytics Historical Market: Breakup by Country (USD Billion), 2018-2023
12. North America Speech Analytics Market Forecast: Breakup by Country (USD Billion), 2024-2032
13. North America Speech Analytics Market Structure
Key Questions Answered in the Report
The market reached a value of approximately USD 2.76 billion in 2023.
The market is projected to grow at a CAGR of 16.8% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 11.33 billion by 2032.
The major market drivers include rising adoption of digital technologies across different sectors and growing efforts by various companies to enhance resolution rates and drive operational efficiency.
The key trends fuelling the growth of the market include increasing efforts by the key market players towards product innovation and rising requirement for speech analytics by the telecommunications sector.
The major countries in the market are United States of America and Canada.
The end users of speech analytics include BFSI, healthcare, government, retail, and telecommunications, among others.
The key players in the market are Open Text Corporation, Nice Ltd., Verint System Inc., Avaya LLC, Castel Communications, Talkdesk, Inc., Qualtrics LLC, LivePerson, Inc. (VoiceBase, Inc.), Genesys Cloud Services, Inc., and CallMiner Inc., among others.
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