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Global Speech Analytics Market: By Type: Solution, Service; By Deployment: On-Premise, Cloud; By Enterprise Size: Small and Medium Enterprises, Large Enterprises; By End User; Regional Analysis; Historical Market and Forecast (2017-2027); Market Dynamics; Competitive Landscape; Industry Events and Developments

Global Speech Analytics Market Outlook

The global speech analytics market attained a value of about USD 1.01 billion in 2020. The market is further expected to grow at a CAGR of 10.2% during the forecast period of 2022-2027 to reach USD 1.81 billion by 2026.

 

Rising Demand for Speech Analytics to Enhance Customer Experience Augmenting the Market Growth

The demand for speech analytics is being driven by the inability of human beings to record and decipher a multitude of customer concerns. Speech analytics tools help organisations automatically and intelligently evaluate unstructured data acquired from customer interactions to enhance customer experience, therefore adding to the market growth. Moreover, due to the growing requirement for risk and compliance management, organisations are increasingly adopting speech analytics for consumer management to retain their customers and attract new ones, thus, bolstering the market growth.

 

Global Speech Analytics Market

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Additionally, speech analytics saves costs and time, eliminating the requirement to conduct elaborate surveys, which is propelling the market growth of speech analytics. Cloud-based real-time speech analytics are being rapidly deployed by enterprises to aid in quick and effective decision-making, thereby further invigorating the growth of the speech analytics industry.  Moreover, speech analytics substantially contributes to decision and policy-making strategies as the software enables organisations to automatically monitor recent and historical conversations, hence, catalysing the market growth. With more companies providing affordable on-premise and cloud speech analytics services, the market is expected to rise in small and medium enterprises, which is anticipated to fuel the industry growth in the forecast period.

 

Speech Analytics: Industry Definition and Segmentation

Speech analytics is a software that evaluates voice calls and derives deep insights from the conversation, which helps business owners to create a customer-friendly environment. The software can spot keywords that aid in policy-shaping. It is being increasingly deployed by several small and large-scale industries.

On the basis of type, the market is fragmented into:

  • Solution
  • Service

Based on deployment, the market is segmented into:

  • On-Premise
  • Cloud

The market, on the basis of enterprises size, is broadly categorised into:

  • Small and Medium Enterprise
  • Large Enterprise

The major end users of speech analytics are:

  • BFSI
  • Telecommunication
  • IT
  • Retail
  • Healthcare
  • Government
  • Hospitality
  • Others

The EMR report looks into the regional markets of speech analytics like North America, Europe, Latin America, the Asia Pacific, and the Middle East and Africa.

 

Increasing Deployment of Speech Analytics in the Hospitality Sector to Boost the Market Growth

The increased implementation of speech analytics in the hospitality sector is anticipated to boost the market growth in the coming years. Speech analytics allows potential callers to convert into customers, thus, boosting the hospitality sector, owing to which it is increasingly deployed. The AI-powered speech analytic tools enable an evaluated study of customer interaction by highlighting crucial words or phrases, aiding in decision making and policy-shaping, thus, augmenting the industry growth. Moreover, the travel industry can use speech analytics to provide a personalised customer experience, which is further projected to propel the market growth. As the development of advanced interaction tools is leading to the growth of the global travel sector, the hospitality sector is robustly growing, which is estimated to bolster the growth of the speech analytics industry.

In addition, the deployment of speech analytics in the retail sector is anticipated to substantially add to growth of the market. The speech analytics software enables retailers to capture customer data in a speedy and effective manner, thereby aiding in improved customer experience, quality of services, and store operations, which is expected to surge its demand. Additionally, the rising deployment of speed analytics by multi-branded retailers enables them to forward the recorded customer interactions to the specific brand and is projected to support the market growth in the upcoming years.

 

Key Industry Players in the Global Speech Analytics Market

The report presents a detailed analysis of the following key players in the global speech analytics market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

  • ASC Technologies
  • Avaya
  • Calabrio
  • CallMiner
  • Clarabridge
  • Genesys 
  • Others

The comprehensive report looks at the micro and macro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of the Porter’s Five Forces Model.

 

REPORT FEATURES DETAILS
Base Year 2020
Historical Period 2017-2021
Forecast Period 2022-2027
Scope of the Report Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Type, Deployment, Enterprise Size, End User, Region
Breakup by Type Solution, Service
Breakup by Deployment On-Premise, Cloud
Breakup by Enterprise Size  Small and Medium Enterprises, Large Enterprises
Breakup by End User BFSI, Telecommunication, IT, Retail, Healthcare, Government, Hospitality, Others
Breakup by Region North America, Europe, Asia Pacific, Latin America, Middle East and Africa
Market Dynamics SWOT, Porter's Five Forces, EMR’s Key Indicators for Price and Demand
Competitive Landscape Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications
Companies Covered ASC Technologies, Avaya, Calabrio, CallMiner, Clarabridge, Genesys, Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual 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    Snapshot
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    Global Speech Analytics Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Speech Analytics Historical Market (2017-2021) 
    8.3    Global Speech Analytics Market Forecast (2022-2027)
    8.4    Global Speech Analytics Market by Type
        8.4.1    Solution
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2017-2021)
            8.4.1.3    Forecast Trend (2022-2027)
        8.4.2    Service
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2017-2021)
            8.4.2.3    Forecast Trend (2022-2027)
    8.5    Global Speech Analytics Market by Deployment
        8.5.1    On-Premise
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2017-2021)
            8.5.1.3    Forecast Trend (2022-2027)
        8.5.2    Cloud
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2017-2021)
            8.5.2.3    Forecast Trend (2022-2027)
    8.6    Global Speech Analytics Market by Enterprise Size 
        8.6.1    Small and Medium Enterprises
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2017-2021)
            8.6.1.3    Forecast Trend (2022-2027)
        8.6.2    Large Enterprises 
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2017-2021)
            8.6.2.3    Forecast Trend (2022-2027)
    8.7    Global Speech Analytics Market by End User
        8.7.1    BFSI 
            8.7.1.1    Market Share
            8.7.1.2    Historical Trend (2017-2021)
            8.7.1.3    Forecast Trend (2022-2027)
        8.7.2    Telecommunication 
            8.7.2.1    Market Share
            8.7.2.2    Historical Trend (2017-2021)
            8.7.2.3    Forecast Trend (2022-2027)
        8.7.3    IT 
            8.7.3.1    Market Share
            8.7.3.2    Historical Trend (2017-2021)
            8.7.3.3    Forecast Trend (2022-2027)
        8.7.4    Retail 
            8.7.4.1    Market Share
            8.7.4.2    Historical Trend (2017-2021)
            8.7.4.3    Forecast Trend (2022-2027)
        8.7.5    Healthcare 
            8.7.5.1    Market Share
            8.7.5.2    Historical Trend (2017-2021)
            8.7.5.3    Forecast Trend (2022-2027)
        8.7.6    Government
            8.7.6.1    Market Share
            8.7.6.2    Historical Trend (2017-2021)
            8.7.6.3    Forecast Trend (2022-2027)
        8.7.7    Hospitality 
            8.7.7.1    Market Share
            8.7.7.2    Historical Trend (2017-2021)
            8.7.7.3    Forecast Trend (2022-2027)
        8.7.8    Others
    8.8    Global Speech Analytics Market by Region
        8.8.1    Market Share
            8.8.1.1    North America
            8.8.1.2    Europe
            8.8.1.3    Asia Pacific
            8.8.1.4    Latin America
            8.8.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2017-2021)
        9.1.2    Forecast Trend (2022-2027)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2017-2021)
        9.2.2    Forecast Trend (2022-2027)
        9.2.3    Breakup by Country 
            9.2.3.1    United Kingdom
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2017-2021)
        9.3.2    Forecast Trend (2022-2027)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2017-2021)
        9.4.2    Forecast Trend (2022-2027)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2017-2021)
        9.5.2    Forecast Trend (2022-2027)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    EMR’s Key Indicators for Demand
    10.4    EMR’s Key Indicators for Price
11    Value Chain Analysis
12    Competitive Landscape

    12.1    Market Structure
    12.2    Company Profiles
        12.2.1    ASC Technologies 
            12.2.1.1    Company Overview
            12.2.1.2    Product Portfolio
            12.2.1.3    Demographic Reach and Achievements
            12.2.1.4    Certifications
        12.2.2    Avaya
            12.2.2.1    Company Overview
            12.2.2.2    Product Portfolio
            12.2.2.3    Demographic Reach and Achievements
            12.2.2.4    Certifications
        12.2.3    Calabrio
            12.2.3.1    Company Overview
            12.2.3.2    Product Portfolio
            12.2.3.3    Demographic Reach and Achievements
            12.2.3.4    Certifications
        12.2.4    CallMiner 
            12.2.4.1    Company Overview
            12.2.4.2    Product Portfolio
            12.2.4.3    Demographic Reach and Achievements
            12.2.4.4    Certifications
        12.2.5    Clarabridge
            12.2.5.1    Company Overview
            12.2.5.2    Product Portfolio
            12.2.5.3    Demographic Reach and Achievements
            12.2.5.4    Certifications
        12.2.6    Genesys
            12.2.6.1    Company Overview
            12.2.6.2    Product Portfolio
            12.2.6.3    Demographic Reach and Achievements
            12.2.6.4    Certifications
        12.2.7    Others
13    Industry Events and Developments

 

List of Figures and Tables

1.    Global Speech Analytics Market: Key Industry Highlights, 2016 and 2026
2.    Global Speech Analytics Historical Market: Breakup by Type (USD Billion), 2017-2021
3.    Global Speech Analytics Market Forecast: Breakup by Type (USD Billion), 2022-2027
4.    Global Speech Analytics Historical Market: Breakup by Deployment (USD Billion), 2017-2021
5.    Global Speech Analytics Market Forecast: Breakup by Deployment (USD Billion), 2022-2027
6.    Global Speech Analytics Historical Market: Breakup by Enterprise Size (USD Billion), 2017-2021
7.    Global Speech Analytics Market Forecast: Breakup by Enterprise Size (USD Billion), 2022-2027
8.    Global Speech Analytics Historical Market: Breakup by End Use (USD Billion), 2017-2021
9.    Global Speech Analytics Market Forecast: Breakup by End Use (USD Billion), 2022-2027
10.    Global Speech Analytics Historical Market: Breakup by Region (USD Billion), 2017-2021
11.    Global Speech Analytics Market Forecast: Breakup by Region (USD Billion), 2022-2027
12.    North America Speech Analytics Historical Market: Breakup by Country (USD Billion), 2017-2021
13.    North America Speech Analytics Market Forecast: Breakup by Country (USD Billion), 2022-2027
14.    Europe Speech Analytics Historical Market: Breakup by Country (USD Billion), 2017-2021
15.    Europe Speech Analytics Market Forecast: Breakup by Country (USD Billion), 2022-2027
16.    Asia Pacific Speech Analytics Historical Market: Breakup by Country (USD Billion), 2017-2021
17.    Asia Pacific Speech Analytics Market Forecast: Breakup by Country (USD Billion), 2022-2027
18.    Latin America Speech Analytics Historical Market: Breakup by Country (USD Billion), 2017-2021
19.    Latin America Speech Analytics Market Forecast: Breakup by Country (USD Billion), 2022-2027
20.    Middle East and Africa Speech Analytics Historical Market: Breakup by Country (USD Billion), 2017-2021
21.    Middle East and Africa Speech Analytics Market Forecast: Breakup by Country (USD Billion), 2022-2027
22.    Global Speech Analytics Market Structure

Key Questions Answered in the Report

The speech analytics market attained a value of nearly USD 1.01 billion in 2020.

The market is projected to grow at a CAGR of 10.2% in the forecast period of 2022-2027.

The market is estimated to witness a healthy growth in the forecast period of 2022-2027 to reach about USD 1.81 billion by 2026.

The industry is being driven by the rising adoption of speech analytics to enhance customer experience based on feedbacks and interactions in various industries.

The implementation of speech analytics integrated with artificial intelligence (AI) in the hospitality and travel industries to provide personalised travel experience is expected to boost the market growth.

The major regional markets for speech analytics are North America, Latin America, the Asia Pacific, Europe, and the Middle East and Africa.

The leading types of speech analytics in the industry are solution and service.

The various deployments of speech analytics are on-premise and cloud.

Small and medium enterprises and large enterprises are the major enterprise sizes of speech analytics.

BFSI, telecommunication, IT, retail, healthcare, government, and hospitality, among others, are significant end-users of speech analytics.

The major players in the industry are ASC Technologies, Avaya, Calabrio, CallMiner, Clarabridge, and Genesys, among others. 

Analyst Review

The global speech analytics market attained a value of about USD 1.01 billion, driven by the increasing use of speech analytics to enhance consumer experience in various industries.  Aided by the deployment of speech analytics in retail management, the market is expected to grow at a CAGR of 10.2% in the forecast period of 2022-2027 to reach USD 1.81 billion by 2026.

EMR’s meticulous research methodology delves deep into the market covering the macro and micro aspects of the industry. On the basis of type, the market is segmented into solution and service. Based on deployment, the market is fragmented into on-premise and cloud. By enterprise size, the market is divided into small and medium enterprises and large enterprises. On the basis of end user, the market is categorised into BFSI, telecommunication, IT, retail, healthcare, government and, hospitality, among others. The major regional markets for speech analytics are North America, Latin America, the Asia Pacific, Europe, and the Middle East and Africa. The key players in the industry are ASC Technologies, Avaya, Calabrio, CallMiner, Clarabridge, and Genesys, among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus providing their customers with market insights that are accurate, actionable and help them remain ahead of their competition.

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