PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1484647
PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1484647
Speech Analytics Market Size and Share Analysis by Offering, Deployment Type, Enterprise Size, Application, Industry - Global Industry Demand Forecast to 2030
Market Insights
The speech analytics market generated a value of USD 2,679.6 million in 2023, which will rise to USD 8,185.9 million, growing at a 17.5% compound annual growth rate, by 2030.
This can be because many big companies mainly emphasize consumer satisfaction, the rising significance of real-time voice analytics, the increasing regulatory compliance necessities, and the mounting count of contact centers.
Voice analytics can change call records into actionable information, and then turn the information into effective and valuable insights across the business. The solution is mainly employed to manage an extensive range of consumer interactions.
Speech analytics offer actionable insight that enhances business value and encourages data-driven decision-making to enrich individual hand training means.
The requirement to evaluate contact center efficiency is essential to improve consumer satisfaction.
The increasing acceptance of speech analysis solutions that integrate advanced technologies like ML and AI is also aiding the industry's expansion.
Speech analysis software, by using these technologies, can precisely interpret human language, recognize emotional signals, and make predictions regarding customer behavior.
The constant development of ML and AI is leading to improved predictive abilities, which improves the business value obtained over speech analysis.
Key Insights
North America led the industry, as it stands out as the most auspicious continent in different sectors like retail & e-commerce, BFSI, IT, telecommunications, government, life sciences, and healthcare.
The region has attracted substantial attention, driving the government and public sector to seek advanced technological solutions to fulfill their huge consumer base.
North America has substantial influence over the speech analytics sector and this impact is likely to continue its growth trajectory.
The solutions category will advance at the fastest compound annual growth rate, of 20%, during this decade.
This is mainly because the incorporation of innovative technologies similar to NLP, AI, and analytics into speech analytics is enabling establishments, particularly larger ones, to attain better insight from voice communications.
The on-premises category was the largest contributor to the industry in 2023, with approximately 70% share.
This can be because on-premises deployment comprises setting up as well as running speech analytics software at an establishment's physical site.
This comprises getting software and hardware licenses, along with taking on security, data governance, and maintenance tasks.
The cloud-based category will advance at a higher compound annual growth rate during this decade.
This is because cloud-based application includes the utilization of speech analytics software that is hosted on remote servers as well as accessible through the Internet.
The SMEs category will propel at the fastest compound annual growth rate in the coming years.
Speech analytics, for small & medium enterprises, plays a key part in offering valuable insights into client interactions, preferences, and sentiment, enabling SMEs to understand their consumers better.
The BFSI category is the largest contributor to the industry.
The rising acceptance of speech analytics in this sector plays an important part in monitoring consumer interactions to guarantee compliance with various regulatory demands and regulations.
The BFSI industry emphasizes consumer centricity, prioritizing delivering excellent consumer experiences. Speech analytics assists businesses in enhancing their understanding of customer demands and service quality.
Table of Contents
Chapter 1. Research Scope
- 1.1. Research Objectives
- 1.2. Market Definition
- 1.3. Analysis Period
- 1.4. Market Size Breakdown by Segments
- 1.4.1. Market size breakdown, by offering
- 1.4.2. Market size breakdown, by deployment type
- 1.4.3. Market size breakdown, by enterprise size
- 1.4.4. Market size breakdown, by application
- 1.4.5. Market size breakdown, by industry
- 1.4.6. Market size breakdown, by region
- 1.4.7. Market size breakdown, by country
- 1.5. Market Data Reporting Unit
- 1.5.1. Value
- 1.6. Key Stakeholders
Chapter 2. Research Methodology
- 2.1. Secondary Research
- 2.1.1. Paid
- 2.1.2. Unpaid
- 2.1.3. P&S Intelligence database
- 2.2. Primary Research
- 2.3. Market Size Estimation
- 2.4. Data Triangulation
- 2.5. Currency Conversion Rates
- 2.6. Assumptions for the Study
- 2.7. Notes and Caveats
Chapter 3. Executive Summary
Chapter 4. Market Indicators
Chapter 5. Industry Outlook
- 5.1. Market Dynamics
- 5.1.1. Trends
- 5.1.2. Drivers
- 5.1.3. Restraints/challenges
- 5.1.4. Impact analysis of drivers/restraints
- 5.2. Impact of COVID-19
- 5.3. Porter's Five Forces Analysis
- 5.3.1. Bargaining power of buyers
- 5.3.2. Bargaining power of suppliers
- 5.3.3. Threat of new entrants
- 5.3.4. Intensity of rivalry
- 5.3.5. Threat of substitutes
Chapter 6. Global Market
- 6.1. Overview
- 6.2. Market Revenue, by Offering (2017-2030)
- 6.2.1. Service market revenue, by type (2017-2030)
- 6.3. Market Revenue, by Deployment Type (2017-2030)
- 6.4. Market Revenue, by Enterprise Size (2017-2030)
- 6.5. Market Revenue, by Application (2017-2030)
- 6.6. Market Revenue, by Industry (2017-2030)
- 6.7. Market Revenue, by Region (2017-2030)
Chapter 7. North America Market
- 7.1. Overview
- 7.2. Market Revenue, by Offering (2017-2030)
- 7.2.1. Service market revenue, by type (2017-2030)
- 7.3. Market Revenue, by Deployment Type (2017-2030)
- 7.4. Market Revenue, by Enterprise Size (2017-2030)
- 7.5. Market Revenue, by Application (2017-2030)
- 7.6. Market Revenue, by Industry (2017-2030)
- 7.7. Market Revenue, by Country (2017-2030)
Chapter 8. Europe Market
- 8.1. Overview
- 8.2. Market Revenue, by Offering (2017-2030)
- 8.2.1. Service market revenue, by type (2017-2030)
- 8.3. Market Revenue, by Deployment Type (2017-2030)
- 8.4. Market Revenue, by Enterprise Size (2017-2030)
- 8.5. Market Revenue, by Application (2017-2030)
- 8.6. Market Revenue, by Industry (2017-2030)
- 8.7. Market Revenue, by Country (2017-2030)
Chapter 9. APAC Market
- 9.1. Overview
- 9.2. Market Revenue, by Offering (2017-2030)
- 9.2.1. Service market revenue, by type (2017-2030)
- 9.3. Market Revenue, by Deployment Type (2017-2030)
- 9.4. Market Revenue, by Enterprise Size (2017-2030)
- 9.5. Market Revenue, by Application (2017-2030)
- 9.6. Market Revenue, by Industry (2017-2030)
- 9.7. Market Revenue, by Country (2017-2030)
Chapter 10. LATAM Market
- 10.1. Overview
- 10.2. Market Revenue, by Offering (2017-2030)
- 10.2.1. Service market revenue, by type (2017-2030)
- 10.3. Market Revenue, by Deployment Type (2017-2030)
- 10.4. Market Revenue, by Enterprise Size (2017-2030)
- 10.5. Market Revenue, by Application (2017-2030)
- 10.6. Market Revenue, by Industry (2017-2030)
- 10.7. Market Revenue, by Country (2017-2030)
Chapter 11. MEA Market
- 11.1. Overview
- 11.2. Market Revenue, by Offering (2017-2030)
- 11.2.1. Service market revenue, by type (2017-2030)
- 11.3. Market Revenue, by Deployment Type (2017-2030)
- 11.4. Market Revenue, by Enterprise Size (2017-2030)
- 11.5. Market Revenue, by Application (2017-2030)
- 11.6. Market Revenue, by Industry (2017-2030)
- 11.7. Market Revenue, by Country (2017-2030)
Chapter 12. U.S. Market
- 12.1. Overview
- 12.2. Market Revenue, by Offering (2017-2030)
- 12.2.1. Service market revenue, by type (2017-2030)
- 12.3. Market Revenue, by Deployment Type (2017-2030)
- 12.4. Market Revenue, by Enterprise Size (2017-2030)
- 12.5. Market Revenue, by Application (2017-2030)
- 12.6. Market Revenue, by Industry (2017-2030)
Chapter 13. Canada Market
- 13.1. Overview
- 13.2. Market Revenue, by Offering (2017-2030)
- 13.2.1. Service market revenue, by type (2017-2030)
- 13.3. Market Revenue, by Deployment Type (2017-2030)
- 13.4. Market Revenue, by Enterprise Size (2017-2030)
- 13.5. Market Revenue, by Application (2017-2030)
- 13.6. Market Revenue, by Industry (2017-2030)
Chapter 14. Germany Market
- 14.1. Overview
- 14.2. Market Revenue, by Offering (2017-2030)
- 14.2.1. Service market revenue, by type (2017-2030)
- 14.3. Market Revenue, by Deployment Type (2017-2030)
- 14.4. Market Revenue, by Enterprise Size (2017-2030)
- 14.5. Market Revenue, by Application (2017-2030)
- 14.6. Market Revenue, by Industry (2017-2030)
Chapter 15. France Market
- 15.1. Overview
- 15.2. Market Revenue, by Offering (2017-2030)
- 15.2.1. Service market revenue, by type (2017-2030)
- 15.3. Market Revenue, by Deployment Type (2017-2030)
- 15.4. Market Revenue, by Enterprise Size (2017-2030)
- 15.5. Market Revenue, by Application (2017-2030)
- 15.6. Market Revenue, by Industry (2017-2030)
Chapter 16. U.K. Market
- 16.1. Overview
- 16.2. Market Revenue, by Offering (2017-2030)
- 16.2.1. Service market revenue, by type (2017-2030)
- 16.3. Market Revenue, by Deployment Type (2017-2030)
- 16.4. Market Revenue, by Enterprise Size (2017-2030)
- 16.5. Market Revenue, by Application (2017-2030)
- 16.6. Market Revenue, by Industry (2017-2030)
Chapter 17. Italy Market
- 17.1. Overview
- 17.2. Market Revenue, by Offering (2017-2030)
- 17.2.1. Service market revenue, by type (2017-2030)
- 17.3. Market Revenue, by Deployment Type (2017-2030)
- 17.4. Market Revenue, by Enterprise Size (2017-2030)
- 17.5. Market Revenue, by Application (2017-2030)
- 17.6. Market Revenue, by Industry (2017-2030)
Chapter 18. Spain Market
- 18.1. Overview
- 18.2. Market Revenue, by Offering (2017-2030)
- 18.2.1. Service market revenue, by type (2017-2030)
- 18.3. Market Revenue, by Deployment Type (2017-2030)
- 18.4. Market Revenue, by Enterprise Size (2017-2030)
- 18.5. Market Revenue, by Application (2017-2030)
- 18.6. Market Revenue, by Industry (2017-2030)
Chapter 19. Japan Market
- 19.1. Overview
- 19.2. Market Revenue, by Offering (2017-2030)
- 19.2.1. Service market revenue, by type (2017-2030)
- 19.3. Market Revenue, by Deployment Type (2017-2030)
- 19.4. Market Revenue, by Enterprise Size (2017-2030)
- 19.5. Market Revenue, by Application (2017-2030)
- 19.6. Market Revenue, by Industry (2017-2030)
Chapter 20. China Market
- 20.1. Overview
- 20.2. Market Revenue, by Offering (2017-2030)
- 20.2.1. Service market revenue, by type (2017-2030)
- 20.3. Market Revenue, by Deployment Type (2017-2030)
- 20.4. Market Revenue, by Enterprise Size (2017-2030)
- 20.5. Market Revenue, by Application (2017-2030)
- 20.6. Market Revenue, by Industry (2017-2030)
Chapter 21. India Market
- 21.1. Overview
- 21.2. Market Revenue, by Offering (2017-2030)
- 21.2.1. Service market revenue, by type (2017-2030)
- 21.3. Market Revenue, by Deployment Type (2017-2030)
- 21.4. Market Revenue, by Enterprise Size (2017-2030)
- 21.5. Market Revenue, by Application (2017-2030)
- 21.6. Market Revenue, by Industry (2017-2030)
Chapter 22. Australia Market
- 22.1. Overview
- 22.2. Market Revenue, by Offering (2017-2030)
- 22.2.1. Service market revenue, by type (2017-2030)
- 22.3. Market Revenue, by Deployment Type (2017-2030)
- 22.4. Market Revenue, by Enterprise Size (2017-2030)
- 22.5. Market Revenue, by Application (2017-2030)
- 22.6. Market Revenue, by Industry (2017-2030)
Chapter 23. South Korea Market
- 23.1. Overview
- 23.2. Market Revenue, by Offering (2017-2030)
- 23.2.1. Service market revenue, by type (2017-2030)
- 23.3. Market Revenue, by Deployment Type (2017-2030)
- 23.4. Market Revenue, by Enterprise Size (2017-2030)
- 23.5. Market Revenue, by Application (2017-2030)
- 23.6. Market Revenue, by Industry (2017-2030)
Chapter 24. Brazil Market
- 24.1. Overview
- 24.2. Market Revenue, by Offering (2017-2030)
- 24.2.1. Service market revenue, by type (2017-2030)
- 24.3. Market Revenue, by Deployment Type (2017-2030)
- 24.4. Market Revenue, by Enterprise Size (2017-2030)
- 24.5. Market Revenue, by Application (2017-2030)
- 24.6. Market Revenue, by Industry (2017-2030)
Chapter 25. Mexico Market
- 25.1. Overview
- 25.2. Market Revenue, by Offering (2017-2030)
- 25.2.1. Service market revenue, by type (2017-2030)
- 25.3. Market Revenue, by Deployment Type (2017-2030)
- 25.4. Market Revenue, by Enterprise Size (2017-2030)
- 25.5. Market Revenue, by Application (2017-2030)
- 25.6. Market Revenue, by Industry (2017-2030)
Chapter 26. Saudi Arabia Market
- 26.1. Overview
- 26.2. Market Revenue, by Offering (2017-2030)
- 26.2.1. Service market revenue, by type (2017-2030)
- 26.3. Market Revenue, by Deployment Type (2017-2030)
- 26.4. Market Revenue, by Enterprise Size (2017-2030)
- 26.5. Market Revenue, by Application (2017-2030)
- 26.6. Market Revenue, by Industry (2017-2030)
Chapter 27. South Africa Market
- 27.1. Overview
- 27.2. Market Revenue, by Offering (2017-2030)
- 27.2.1. Service market revenue, by type (2017-2030)
- 27.3. Market Revenue, by Deployment Type (2017-2030)
- 27.4. Market Revenue, by Enterprise Size (2017-2030)
- 27.5. Market Revenue, by Application (2017-2030)
- 27.6. Market Revenue, by Industry (2017-2030)
Chapter 28. U.A.E. Market
- 28.1. Overview
- 28.2. Market Revenue, by Offering (2017-2030)
- 28.2.1. Service market revenue, by type (2017-2030)
- 28.3. Market Revenue, by Deployment Type (2017-2030)
- 28.4. Market Revenue, by Enterprise Size (2017-2030)
- 28.5. Market Revenue, by Application (2017-2030)
- 28.6. Market Revenue, by Industry (2017-2030)
Chapter 29. Competitive Landscape
- 29.1. List of Market Players and their Offerings
- 29.2. Competitive Benchmarking of Key Players
- 29.3. Product Benchmarking of Key Players
- 29.4. Recent Strategic Developments
Chapter 30. Company Profiles
- 30.1. NICE Systems Ltd.
- 30.1.1. Business overview
- 30.1.2. Product and service offerings
- 30.1.3. Key financial summary
- 30.2. Verint Systems Inc.
- 30.2.1. Business overview
- 30.2.2. Product and service offerings
- 30.2.3. Key financial summary
- 30.3. Hewlett Packard Enterprise Company
- 30.3.1. Business overview
- 30.3.2. Product and service offerings
- 30.3.3. Key financial summary
- 30.4. Genesys Cloud Services Inc.
- 30.4.1. Business overview
- 30.4.2. Product and service offerings
- 30.4.3. Key financial summary
- 30.5. Avaya Holdings Corporation
- 30.5.1. Business overview
- 30.5.2. Product and service offerings
- 30.5.3. Key financial summary
- 30.6. Alvaria Inc.
- 30.6.1. Business overview
- 30.6.2. Product and service offerings
- 30.6.3. Key financial summary
- 30.7. Castel Communications LLC
- 30.7.1. Business overview
- 30.7.2. Product and service offerings
- 30.7.3. Key financial summary
- 30.8. Clarabridge Inc.
- 30.8.1. Business overview
- 30.8.2. Product and service offerings
- 30.8.3. Key financial summary
- 30.9. Calabrio Inc.
- 30.9.1. Business overview
- 30.9.2. Product and service offerings
- 30.9.3. Key financial summary
- 30.10. Google LLC
- 30.10.1. Business overview
- 30.10.2. Product and service offerings
- 30.10.3. Key financial summary
- 30.11. Deepgram Inc.
- 30.11.1. Business overview
- 30.11.2. Product and service offerings
- 30.11.3. Key financial summary
- 30.12. Amazon Web Services Inc.
- 30.12.1. Business overview
- 30.12.2. Product and service offerings
- 30.12.3. Key financial summary
- 30.13. Intelligent Voice Ltd.
- 30.13.1. Business overview
- 30.13.2. Product and service offerings
- 30.13.3. Key financial summary
Chapter 31. Appendix
- 31.1. Abbreviations
- 31.2. Sources and References
- 31.3. Related Reports
