Coronavirus Business Impact – Speech Analytics Market In-depth Analysis of the Industry with Future Estimations


Posted August 31, 2020 by devanshu

The global speech analytics market share is predicted to garner $2,910.1 million by 2024, advancing at a 19.9% CAGR during the forecast period (2019–2024), growing from $1,010.4 million in 2018

 
The global speech analytics market share is predicted to garner $2,910.1 million by 2024, advancing at a 19.9% CAGR during the forecast period (2019–2024), growing from $1,010.4 million in 2018. Some of the key factors of the market growth are the rising number of contact centers, increasing significance of real-time speech, growing focus on customer satisfaction, and compliance to regulations.

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The speech analytics software reviews and analyzes live customer calls and voice recordings to present an analysis of overall customer experience, and assist organizations in constructing operational strategies aimed at enhancing customer experience. The players operating in the speech analytics market have huge potential for growth as the demand for speech analytics is increasing by the day from small and medium enterprises (SMEs) for expanding their product portfolios and shares.

In order to offer their customers an enhanced service and also retain them, SMEs are integrating speech analytics software in their workflow. In addition to this, the deployment of speech analytics software on the cloud has improved its accessibility for SMES, as it no more requires any hardware investment.

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Therefore, the market for speech analytics is predicted to flourish in the forecast period due to the rising need for businesses to retain customers in long run.

The research offers market size of the global speech analytics market for the period 2014-2024.

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)

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
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Issued By Devanshu
Country United States
Categories Business
Last Updated August 31, 2020