Speech Analytics Market Size, Share & Trends Analysis Report By Component (Solution, Service), By Deployment (On-Premises, Cloud), By Enterprise Size (SMEs), By Vertical (BFSI), By Region, And Segment Forecasts, 2024

Description

Speech Analytics Market Growth & Trends:

The global speech analytics market is expected to reach USD 7.73 billion by 2030, according to a new report by Grand View Research, Inc. The market is estimated to witness a robust growth exceeding a CAGR of 15.7% from 2024 to 2030. This growth is ascribed to the increasing emphasis by organizations on improving the market intelligence capabilities along with the growing prominence of voice in the multi-channel world.

The number of contact centers is increasing, resulting in industry players to innovate speech analytics solutions, which help companies understand the changing customer requirements. The technology has been increasingly adopted in consumer electronics devices, including laptops, smartphones, and tablets, as it significantly increases the enterprise's scope as well as improves performance. This, in turn, has resulted in elevating adoption of speech analytics solutions worldwide. In addition, upcoming technologies, such as voice print authentication, are estimated to spur growth over the coming years.

Furthermore, the rising demand for risk management solutions and cloud analytics is also anticipated to favorably impact growth over the next nine years. These solutions offer several growth opportunities as this solution helps optimize performance and enhance customer experience. However, issues pertaining to lack of awareness and rise in cost may pose a challenge to the speech analytics market growth in the near future.

Speech Analytics Market Report Highlights:

The solutions components segment accounted for a revenue share of 62.8% in 2023. This dominance can be attributed to its advanced automation capabilities.
The on-premises deployment segment accounted for 60.6% of market revenue in 2023. This leading position is fueled by the long-term cost efficiency of on-premises solutions for organizations, especially those with substantial workloads or strict data privacy rules.
The large enterprises segment held a 59.8% market revenue share in 2023. This leadership is driven by the significant role speech analytics plays in enhancing customer satisfaction for large organizations.
Banking, Financial Services, and Insurance (BFSI) sector held a commanding position in the market in 2023.
The North American speech analytics market emerged as the global leader in 2023. This dominance can be attributed to the region's well-developed infrastructure, characterized by high-speed internet connectivity and robust telecommunications networks.

Product Code: GVR-1-68038-209-9

Chapter 1. Methodology and Scope

1.1. Market Segmentation and Scope
1.2. Market Definitions
1.3. Research Methodology
- 1.3.1. Information Procurement
- 1.3.2. Information or Data Analysis
- 1.3.3. Market Formulation & Data Visualization
- 1.3.4. Data Validation & Publishing
1.4. Research Scope and Assumptions
- 1.4.1. List of Data Sources

Chapter 2. Executive Summary

2.1. Market Outlook
2.2. Segment Outlook
2.3. Competitive Insights

Chapter 3. Global Speech Analytics Market Variables, Trends, & Scope

3.1. Market Introduction/Lineage Outlook
3.2. Market Size and Growth Prospects (USD Million)
3.3. Market Dynamics
- 3.3.1. Market Drivers Analysis
- 3.3.2. Market Restraints Analysis
3.4. Global Speech Analytics Market Analysis Tools
- 3.4.1. Porter's Analysis
  - 3.4.1.1. Bargaining power of the suppliers
  - 3.4.1.2. Bargaining power of the buyers
  - 3.4.1.3. Threats of substitution
  - 3.4.1.4. Threats from new entrants
  - 3.4.1.5. Competitive rivalry
- 3.4.2. PESTEL Analysis
  - 3.4.2.1. Political landscape
  - 3.4.2.2. Economic and Social landscape
  - 3.4.2.3. Technological landscape
  - 3.4.2.4. Environmental landscape
  - 3.4.2.5. Legal landscape

Chapter 4. Global Speech Analytics Market: Components Estimates & Trend Analysis

4.1. Segment Dashboard
4.2. Global Speech Analytics Market: Components Movement Analysis, 2023 & 2030 (USD Million)
4.3. Solutions
- 4.3.1. Solutions Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
4.4. Services
- 4.4.1. Services Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)

Chapter 5. Global Speech Analytics Market: Deployment Estimates & Trend Analysis

5.1. Segment Dashboard
5.2. Global Speech Analytics Market: Deployment Movement Analysis, 2023 & 2030 (USD Million)
5.3. On-Premises
- 5.3.1. On-premises Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
5.4. Cloud
- 5.4.1. Cloud Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)

Chapter 6. Global Speech Analytics Market: Enterprise Size Estimates & Trend Analysis

6.1. Segment Dashboard
6.2. Global Speech Analytics Market: Enterprise Size Movement Analysis, 2023 & 2030 (USD Million)
6.3. SMEs
- 6.3.1. SMEs Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
6.4. Large Enterprise
- 6.4.1. Large Enterprise Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)

Chapter 7. Global Speech Analytics Market: Vertical Estimates & Trend Analysis

7.1. Segment Dashboard
7.2. Global Speech Analytics Market: Vertical Movement Analysis, 2023 & 2030 (USD Million)
7.3. BFSI
- 7.3.1. BFSI Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
7.4. Telecommunications
- 7.4.1. Telecommunications Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
7.5. Healthcare
- 7.5.1. Healthcare Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
7.6. Retail
- 7.6.1. Retail Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
7.7. Government
- 7.7.1. Government Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
7.8. Travel and Hospitality
- 7.8.1. Travel and Hospitality Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
7.9. Others
- 7.9.1. Others Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)

Chapter 8. Global Speech Analytics Market: Regional Estimates & Trend Analysis

8.1. Global Speech Analytics Market Share, By Region, 2023 & 2030 (USD Million)
8.2. North America
- 8.2.1. North America Speech Analytics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.2.2. U.S.
  - 8.2.2.1. U.S. Speech Analytics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.2.3. Canada
  - 8.2.3.1. Canada Speech Analytics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.2.4. Mexico
  - 8.2.4.1. Mexico Speech Analytics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
8.3. Europe
- 8.3.1. Europe Speech Analytics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.3.2. UK
  - 8.3.2.1. UK Speech Analytics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.3.3. Germany
  - 8.3.3.1. Germany Speech Analytics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.3.4. France
  - 8.3.4.1. France Speech Analytics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
8.4. Asia Pacific
- 8.4.1. Asia Pacific Speech Analytics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.4.2. China
  - 8.4.2.1. China Speech Analytics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.4.3. Japan
  - 8.4.3.1. Japan Speech Analytics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.4.4. India
  - 8.4.4.1. India Speech Analytics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.4.5. South Korea
  - 8.4.5.1. South Korea Speech Analytics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.4.6. Australia
  - 8.4.6.1. Australia Speech Analytics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
8.5. Latin America
- 8.5.1. Latin America Speech Analytics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.5.2. Brazil
  - 8.5.2.1. Brazil Speech Analytics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
8.6. Middle East and Africa
- 8.6.1. Middle East and Africa Speech Analytics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.6.2. Saudi Arabia
  - 8.6.2.1. Saudi Arabia Speech Analytics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.6.3. UAE
  - 8.6.3.1. UAE Speech Analytics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.6.4. South Africa
  - 8.6.4.1. South Africa Speech Analytics Market Estimates and Forecasts, 2018 - 2030 (USD Million)

Chapter 9. Competitive Landscape

9.1. Recent Developments & Impact Analysis by Key Market Participants
9.2. Company Categorization
9.3. Company Heat Map Analysis
9.4. Company Profiles
- 9.4.1. Avaya LLC
  - 9.4.1.1. Participant's Overview
  - 9.4.1.2. Financial Performance
  - 9.4.1.3. Product Benchmarking
  - 9.4.1.4. Recent Developments/ Strategic Initiatives
- 9.4.2. Calabrio, Inc.
  - 9.4.2.1. Participant's Overview
  - 9.4.2.2. Financial Performance
  - 9.4.2.3. Product Benchmarking
  - 9.4.2.4. Recent Developments/ Strategic Initiatives
- 9.4.3. CallMiner
  - 9.4.3.1. Participant's Overview
  - 9.4.3.2. Financial Performance
  - 9.4.3.3. Product Benchmarking
  - 9.4.3.4. Recent Developments/ Strategic Initiatives
- 9.4.4. Qualtrics
  - 9.4.4.1. Participant's Overview
  - 9.4.4.2. Financial Performance
  - 9.4.4.3. Product Benchmarking
  - 9.4.4.4. Recent Developments/ Strategic Initiatives
- 9.4.5. Genesys
  - 9.4.5.1. Participant's Overview
  - 9.4.5.2. Financial Performance
  - 9.4.5.3. Product Benchmarking
  - 9.4.5.4. Recent Developments/ Strategic Initiatives
- 9.4.6. Hewlett Packard Enterprise Development LP
  - 9.4.6.1. Participant's Overview
  - 9.4.6.2. Financial Performance
  - 9.4.6.3. Product Benchmarking
  - 9.4.6.4. Recent Developments/ Strategic Initiatives
- 9.4.7. inContact, Inc.
  - 9.4.7.1. Participant's Overview
  - 9.4.7.2. Financial Performance
  - 9.4.7.3. Product Benchmarking
  - 9.4.7.4. Recent Developments/ Strategic Initiatives
- 9.4.8. NICE
  - 9.4.8.1. Participant's Overview
  - 9.4.8.2. Financial Performance
  - 9.4.8.3. Product Benchmarking
  - 9.4.8.4. Recent Developments/ Strategic Initiatives
- 9.4.9. Verint Systems Inc.'
  - 9.4.9.1. Participant's Overview
  - 9.4.9.2. Financial Performance
  - 9.4.9.3. Product Benchmarking
  - 9.4.9.4. Recent Developments/ Strategic Initiatives

Speech Analytics Market Size, Share & Trends Analysis Report By Component (Solution, Service), By Deployment (On-Premises, Cloud), By Enterprise Size (SMEs), By Vertical (BFSI), By Region, And Segment Forecasts, 2024 - 2030