Speech analytics is the process of analyzing on-going or recorded calls for collecting useful data for quality assurance. The calls are being analysed for understanding the mood of the customer, the reason for the call, satisfaction level, and other relevant information that helps in improving the business. These analytics primarily uses the unstructured data from the customer phone calls and matches it with structured metadata. This data then further undergoes a speech recognition process and is being converted into text and parameters such as voice, loudness, and tempo are analyzed. These parameters are then used in the business decision-making process.

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The global speech analytics market was valued at US$ 950.2 Million in 2017 and is expected to grow with the highest CAGR during the forecast period. Speech solutions provide the ability to convert the recorded call into unstructured data and then translate the data into useful information effectively across the enterprise. These solutions can handle a broad range of customer interactions. Speech analytics solutions are gaining popularity across various enterprises due to the ineffectiveness of the conventional text-based analytics that is unable to handle the complex business issues in real time. In addition to this, speech analytics identifies the areas where contact center managers may require additional training or tutoring, and automatically monitors the customer service provided on calls. Speech analytics provides an unconditional analysis of recorded phone conversations of the company and provides various solutions such as speech engine, indexing, analysis, query tools, dashboards, and reporting tools.
This speech analytics market report covers an in-depth analysis of the market including statistical and subjective data points, along with the key market drivers and opportunities & restraints that have positive or negative effects on the overall global market. An exclusive coverage is provided for market drivers and challenges & opportunities for a country-level market in the respective regional segments. The report comprises a competitive analysis of the key players functioning in the market and covers in-depth data related to the competitive landscape of the market and the recent strategies & products that will assist or affect the market in the near future.

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Telecommunication Industry has one of the Highest Market Shares in Speech Analytics Market
Speech Analytics has gained momentum in the telecom industry, owing to the huge amount of data being generated through the introduction of the connected world concept. Initially, the recorded calls were being evaluated manually, but the increasing number of call volume is demanding the need for adequate and accurate evaluation, thereby leading to the adoption of speech analytics. Telecom service provider organizations are the major end-users of speech analytics solutions across the globe. Various benefits such as fraud reduction, risk minimization, service improvement, increased margins, and customer satisfaction are leading to the acquisition and retention of more customers, which are further supporting the market growth.
On the basis of deployment type, the cloud-based communication analytics is dominating the market with the highest CAGR, owing to its high adoption rate in various organizations. As it helps in identifying the potential risks with real-time insights into customers, identifying high-value customers and in managing them accordingly, and across the customer life cycles to improve revenues.
North America
US
Canada
Mexico
Europe
UK
Germany
France
Italy
Spain
Rest of Europe
Asia Pacific
China
Japan
India
Indonesia
Thailand
Rest of APAC
Latin America
Brazil
Argentina
Rest of Latin America
Middle East & Africa
Southern Africa
Northern Africa
GCC
Rest of Middle East & Africa
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