Speech Analytics Market - By Component (Solution, Service), By Deployment Model (On-premises, Cloud), By Organization Size (SMEs, Large Enterprises), By End Use, Forecast 2024

Description

List of Tables

Global Speech Analytics Market will witness over 17% CAGR between 2024 and 2032, driven by partnerships and innovations from industry leaders. As companies recognize the value of speech analytics in understanding customer behavior and improving business operations, collaborations between key players are becoming increasingly common.

For instance, in May 2023, Canary Speech, a provider of speech analysis software, teamed up with Microsoft to leverage the tech company's AI technology in expanding its machine-learning speech models for healthcare. Canary specializes in vocal biomarker technology, which captures and analyzes speech data to identify irregularities. The company emphasized its capability to detect mood, stress, and energy levels before clinical screenings and symptom manifestation. Additionally, it suggested potential benefits for telemedicine and remote medical services, aiming to enhance healthcare delivery through advanced speech analysis.

These partnerships facilitate the integration of advanced technologies and analytical capabilities, enhancing the efficiency and effectiveness of speech analytics solutions. With a focus on improving customer experience and operational performance, the demand for speech analytics is surging, driving market growth and fostering innovation within the industry.

The overall Speech Analytics Industry is classified based on the component, deployment mode, and region.

Service segment will establish a significant market foothold by 2032. As businesses prioritize customer satisfaction and operational efficiency, the utilization of speech analytics services becomes paramount. These services offer valuable insights into customer interactions, sentiments, and trends, enabling companies to optimize their services and enhance customer experience. By leveraging speech analytics services, organizations can identify areas for improvement, personalize interactions, and drive business growth. As a result, the demand for service components within the speech analytics market continues to grow, driving innovation and market expansion.

Speech analytics market size from the cloud segment will register a noteworthy CAGR from 2024 to 2032. As businesses seek scalable and flexible solutions, cloud-based speech analytics platforms offer numerous advantages. These include reduced infrastructure costs, simplified management, and seamless scalability. With the ability to analyze vast amounts of speech data in real time, cloud-based solutions empower organizations to gain valuable insights into customer interactions and sentiments. As businesses increasingly embrace cloud technology for enhanced efficiency and agility, the demand for cloud deployment within the speech analytics market continues to rise, driving market growth and innovation.

Asia Pacific speech analytics industy will record a commendable CAGR over 2024-2032. As businesses in Asia Pacific seek to enhance customer experience and operational efficiency, the adoption of speech analytics solutions is on the rise. These solutions offer valuable insights into customer interactions and sentiments, empowering organizations to make data-driven decisions.

With a growing emphasis on leveraging technology for competitive advantage, the demand for speech analytics in the Asia Pacific continues to escalate, driving market growth and innovation. For instance, in February 2023, Bharti Airtel, a telecom giant, unveiled an artificial intelligence-driven solution aimed at enhancing customer experience during inbound calls to its contact center. Developed in collaboration with Nvidia, this speech analytics solution was anticipated to optimize support for call center agents and customers while reducing computing costs.

Product Code: 7902

Chapter 1 Methodology & Scope

1.1 Market scope & definition
1.2 Base estimates & calculations
1.3 Forecast calculation
1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
  - 1.4.2.1 Paid sources
  - 1.4.2.2 Public sources

Chapter 2 Executive Summary

2.1 Speech analytics market 360 degree synopsis, 2018 - 2032
2.2 Business trends
- 2.2.1 Total Addressable Market (TAM), 2024 - 2032
2.3 Regional trends
2.4 Component trends
2.5 Deployment model trends
2.6 Organization size trends
2.7 End use trends

Chapter 3 Speech Analytics Industry Insights

3.1 Industry ecosystem analysis
3.2 Suppliers landscape
- 3.2.1 Software provider
- 3.2.2 Service providers
- 3.2.3 Distribution channel
- 3.2.4 End users
3.3 Technology & innovation landscape
3.4 Profit margin
3.5 Integration with CRM systems
3.6 Patent analysis
3.7 Key news and initiatives
- 3.7.1 Partnership/collaboration
- 3.7.2 Merger/acquisition
- 3.7.3 Investment
- 3.7.4 Product launch & innovation
3.8 Regulatory landscape
3.9 Impact forces
- 3.9.1 Growth drivers
  - 3.9.1.1 Growing demand for customer insights
  - 3.9.1.2 Rising focus on compliance and risk management
  - 3.9.1.3 Advancements in AI and Natural Language Processing (NLP)
  - 3.9.1.4 Increasing adoption of cloud-based solutions
- 3.9.2 Industry pitfalls & challenges
  - 3.9.2.1 Accuracy and reliability issues
  - 3.9.2.2 Data privacy and compliance concerns
3.10 Growth potential analysis
3.11 Porter's analysis
3.12 PESTEL analysis

Chapter 4 Competitive Landscape, 2023

4.1 Introduction
4.2 Company market share, 2023
4.3 Competitive analysis of major market players, 2023
- 4.3.1 Avaya
- 4.3.2 Calabrio
- 4.3.3 CallMiner
- 4.3.4 Genesys
- 4.3.5 NICE
- 4.3.6 OpenText
- 4.3.7 Verint
4.4 Competitive positioning matrix, 2023
4.5 Strategic outlook matrix, 2023

Chapter 5 Speech Analytics Market Estimates & Forecast, By Component (Revenue)

5.1 Key trends, by component
5.2 Solution
5.3 Service

Chapter 6 Speech Analytics Market Estimates & Forecast, By Deployment Model (Revenue)

6.1 Key trends, by deployment model
6.2 On premises
6.3 Cloud

Chapter 7 Speech Analytics Market Estimates & Forecast, By Organization Size (Revenue)

7.1 Key trends, by organization size
7.2 SMEs
7.3 Large enterprises

Chapter 8 Speech Analytics Market Estimates & Forecast, By End Use (Revenue)

8.1 Key trends, by end use
8.2 Retail & e-commerce
8.3 Healthcare
8.4 BFSI
8.5 Telecommunication
8.6 IT
8.7 Automotive & transportation
8.8 Hospitality
8.9 Others

Chapter 9 Speech Analytics Market Estimates & Forecast, By Region (Revenue)

9.1 Key trends, by region
9.2 North America
- 9.2.1 U.S.
- 9.2.2 Canada
9.3 Europe
- 9.3.1 UK
- 9.3.2 Germany
- 9.3.3 France
- 9.3.4 Spain
- 9.3.5 Italy
- 9.3.6 Russia
- 9.3.7 Nordics
9.4 Asia Pacific
- 9.4.1 China
- 9.4.2 India
- 9.4.3 Japan
- 9.4.4 South Korea
- 9.4.5 Australia
- 9.4.6 Southeast Asia
9.5 Latin America
- 9.5.1 Brazil
- 9.5.2 Mexico
9.6 MEA
- 9.6.1 South Africa
- 9.6.2 Saudi Arabia
- 9.6.3 UAE

Chapter 10 Company Profiles (Business Overview, Financial Data, Product Landscape, Strategic Outlook, SWOT Analysis)

10.1 Almawave
10.2 Avaya
10.3 Calabrio
10.4 CallMiner
10.5 Chorus.ai
10.6 Clarabridge (Qualtrics)
10.7 Cogito
10.8 Dialpad
10.9 Genesys
10.10 Invoca
10.11 NICE
10.12 OpenText
10.13 Prodigal
10.14 Salesken
10.15 Talkdesk
10.16 Tethr
10.17 Uniphore
10.18 Verint
10.19 Veritone
10.20 VoiceBase